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Category: Asia Pacific

  • MIL-OSI Asia-Pac: Monthly review of accounts of the Government of India upto January, 2025 (FY2024-25)

    Source: Government of India

    Posted On: 28 FEB 2025 4:47PM by PIB Delhi

    The monthly account of the Government of India upto January, 2025, has been consolidated and reports published. The highlights are given below:-

    The Government of India has received ₹24,00,412 crore (76.3% of corresponding RE 2024-25 of Total Receipts upto January, 2025 comprising ₹19,03,558 crore Tax Revenue (Net to Centre), ₹4,67,630 crore of Non-Tax Revenue and ₹29,224 crore of Non-Debt Capital Receipts. ₹10,74,179 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is ₹2,53,929 crore higher than the previous year.

    Total Expenditure incurred by the Government of India is ₹35,69,954 crore (75.7% of corresponding RE 2024-25), out of which ₹28,12,595 crore is on Revenue Account and ₹7,57,359 crore is on Capital Account. Out of the Total Revenue Expenditure, ₹8,75,461 crore is on account of Interest Payments and ₹3,37,733 crore is on account of Major Subsidies.

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    NB/KMN

    (Release ID: 2106950) Visitor Counter : 32

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Our Hon’ble Prime Minister Shri Narendra Modi is absolutely right in his vision to combat the problem of Obesity: Mr. Luke Coutinho

    Source: Government of India

    Our Hon’ble Prime Minister Shri Narendra Modi is absolutely right in his vision to combat the problem of Obesity: Mr. Luke Coutinho

    We need to have regulation and awareness about junk food for children and adults, which is contributing towards the obesity epidemic: Mr. Luke

    Posted On: 28 FEB 2025 4:19PM by PIB Delhi

    Our Hon’ble Prime Minister, Shri Narendra Modi, is absolutely right in his vision of combating this problem of obesity, said Mr. Luke Coutinho while visiting an Anganwadi Center in New Delhi today. Mr. Luke Coutinho is a renowned holistic health coach and co-founder of Luke Coutinho Holistic Healing Systems. He is on a visit to Delhi to attend a media conclave.

    Talking about nutrition, Mr. Luke said that three issues need to be focused on. First, early start at child level to get their nutrition right, second, the right education about nutrition in different languages across our diverse country and, third, access to local superfoods like millet. He added that we need to have regulation and awareness about junk food for children and adults, which is contributing towards the obesity epidemic.

     

    Praising the Prime Minister Shri Narendra Modi, Mr. Luke said that “Shri Modi has encouraged us to use local superfoods. We can maintain a natural balanced diet with these foods and support the macros of proteins, carbohydrates and fat “.

    Supporting the mission against obesity, he said that “Everyone should take personal responsibility as an Indian citizen to do our part and choose the right food, exercise every day and focus on our mental & emotional health “.

    Mr. Luke said that to overcome obesity, our Prime Minister has spoken about a reduction in edible oil in our foods by 10 percent. He added that “we need awareness and mindfulness and Ghar-ka-khana (home cooked food) has to be promoted and it will require the unity of the country, honoring the Prime Minister’s vision and all of our personal responsibility to make India healthy “.

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    MV/AKS

    (Release ID: 2106933) Visitor Counter : 90

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Siu Lam Integrated Rehabilitation Services Complex officially opens (with photos)

    Source: Hong Kong Government special administrative region

    Siu Lam Integrated Rehabilitation Services Complex officially opens (with photos)
    Siu Lam Integrated Rehabilitation Services Complex officially opens (with photos)
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         The Chief Secretary for Administration, Mr Chan Kwok-ki, officiated at the Opening Ceremony of the Siu Lam Integrated Rehabilitation Services Complex (the Services Complex) today (February 28), and joined participating guests in witnessing the launch of the largest integrated rehabilitation services complex in Hong Kong to showcase the Government’s support and commitment to persons with disabilities and their carers.     Addressing the ceremony, Mr Chan expressed gratitude to the organisations and groups that had contributed to the project. He commended the design of the Services Complex for making full use of its spatial advantages as well as incorporating smart technology and rehabilitation equipment to create a safe and comfortable living environment for the service users. He was also pleased to learn that the Services Complex smoothly implements a medical-social collaboration model, where close communication and flexible arrangements enable quality medical services for the residents with fewer hospital visits. He called on different sectors to continue to foster cross-sectoral collaboration and make joint efforts in taking forward innovation and improvement in rehabilitation services, as well as serving persons with disabilities and their families with compassion, thereby building a caring and inclusive community.     Mr Chan said that the Government has long been attentive to the needs of persons with disabilities and the development of rehabilitation services. The estimated recurrent expenditure of the Social Welfare Department (SWD) on rehabilitation and medical social services has reached $12.6 billion in 2025-26, a 35 per cent increase in comparison with that of five years ago, which demonstrates the Government’s commitments in supporting persons with disabilities. The Government will continue to strive for service enhancements, including the provision of additional places for rehabilitation services, so that the total number of such service places will reach around 39 900 by 2028-29 for meeting the keen demand for support services for persons with disabilities.     At the ceremony, Mr Chan, accompanied by the Secretary for Labour and Welfare, Mr Chris Sun; the Permanent Secretary for Labour and Welfare, Ms Alice Lau; and the Director of Social Welfare, Mr Edward To, presided at the unveiling ceremony of the Services Complex. A tour of the residential care and day training facilities of the Services Complex was also arranged for the guests prior to the ceremony to showcase to them the relevant service operations.     Located at 12 and 20 Hong Fai Road, Siu Lam, Tuen Mun, the Services Complex, which has commenced operation in phases starting from December 2023, was designed and constructed by consultants and contractors commissioned by the SWD. The Services Complex is operated by the Tung Wah Group of Hospitals, SAHK and the New Life Psychiatric Rehabilitation Association, providing a total of 1 150 residential care places and 560 day training places for mentally handicapped persons, physically handicapped persons as well as persons in mental recovery. Incorporating ample communal space and large glass windows to improve ventilation and provide sufficient natural light, the Services Complex integrates with the surrounding environment to allow service users to enjoy the beautiful scenery.

     
    Ends/Friday, February 28, 2025Issued at HKT 19:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Yuen Long Swimming Pool temporarily closed

    Source: Hong Kong Government special administrative region

    Yuen Long Swimming Pool temporarily closed
    Yuen Long Swimming Pool temporarily closed
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    Attention TV/radio announcers:Please broadcast the following as soon as possible and repeat it at regular intervals:     Here is an item of interest to swimmers.     The Leisure and Cultural Services Department announced today (February 28) that Yuen Long Swimming Pool in Yuen Long District has been temporarily closed for cleaning and superchlorination following the discovery of a small amount of vomit in the pool.     It will be reopened at 6.30am tomorrow (March 1).     The department appeals to swimmers to be considerate and to keep the swimming pools clean. They are advised not to swim after a full meal and should use the toilet facilities if necessary before swimming. 

     
    Ends/Friday, February 28, 2025Issued at HKT 18:53

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CAD follows up on air traffic control incident

    Source: Hong Kong Government special administrative region

         The Civil Aviation Department (CAD) is following up on an air traffic control (ATC) incident that occurred yesterday morning (February 27). At around 7am yesterday, an MNG Airlines’ A330 cargo flight (flight number MNB380) from Hong Kong International Airport (HKIA) to Turkmenistan and another Silk Road Western Airlines’ B777 cargo flight (flight number AZG625) to Baku were granted clearance by ATC officers to depart from the Centre Runway (Runway 07C) and the South Runway (Runway 07R) of HKIA, respectively, following standard flight procedures. After taking off, both cargo flights were subsequently instructed by ATC officers to climb to 5 000 feet and 3 000 feet, respectively, to maintain vertical separation. However, as the climbing rates of the two cargo flights varied from what the ATC officers had anticipated, the desired vertical separation was not achieved. During this time, both cargo flights followed standard departure procedures and maintained visual contact with each other. When the aircraft were approximately 7 nautical miles northeast of HKIA, the traffic collision avoidance system of the Silk Road Western Airlines’ B777 cargo flight issued an alert to its crew, and the aircraft then descended to 2 500 feet. After the incident, both aircraft continued to their destinations according to their flight plans.

         The CAD is highly concerned about the incident and has immediately initiated an investigation and follow-up actions according to procedures. Preliminary information indicates that the incident may involve non-compliance by ATC personnel with established procedures for arranging aircraft for take-off. The relevant ATC personnel have been temporarily removed from frontline ATC duties.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Task Group on New Medical School discusses next steps for evaluating proposals on establishment of third medical school (with photo)

    Source: Hong Kong Government special administrative region

         The Task Group on New Medical School, co-chaired by the Secretary for Health, Professor Lo Chung-mau, and the Secretary for Education, Dr Choi Yuk-lin, convened its third meeting today (February 28) to discuss the next steps for evaluating proposals on the establishment of the third medical school.

         At the meeting, the Task Group agreed to adopt a holistic and comprehensive approach, in accordance with the 10 key parameters as set out earlier (including the financial sustainability of the new medical school), for evaluating the proposals submitted by universities from various perspectives. The expert advisors and other members of the Task Group will conduct an in-depth evaluation of the proposals in their respective areas of expertise. Apart from evaluating the content of the proposals, the Task Group also plans to conduct interviews within the second quarter of this year with the universities which have submitted proposals to get a better grasp of the proposals for making a consolidated consideration. The Task Group expects to complete the evaluation and recommend to the Government within this year a proposal that is in line with developing Hong Kong into an international medical training, research and innovation hub.

         Professor Lo said, “I hope that the final recommendation put forward by the Task Group later this year on the establishment of the new medical school will bring the standards of medical education and research in Hong Kong to new heights. In addition, the Financial Secretary has announced in the 2025-26 Budget that the Government will set aside resources to support universities in the development of the new medical school on a matching basis. In this connection, the financial sustainability of the proposed new medical school is of great importance. The funding arrangement of the new medical school is in fact also one of the 10 key parameters for consideration as set out by the Task Group earlier. The Task Group will examine in detail whether the proposals provide for a diversified funding plan, combined with viable financial management, to ensure the long-term and sustainable development of the new medical school.”

         Dr Choi said, “The 2024-2035 master plan on building China into a leading country in education newly released by our nation strives to accelerate the development of world-class universities and advanced disciplines. The assessment framework for the new medical school as endorsed by the Task Group lays down clear assessment requirements and criteria, including teaching and learning quality, and research excellence. As an important part of the Northern Metropolis University Town (NMUT), the new medical school not only can contribute to the overall development of the relevant university, but also enhance the academic and research excellence of the medical sector, which is conducive to developing Hong Kong into an international post-secondary education hub. We expect that the proposals to be submitted by the relevant institutions will set out collaborative development strategies with the higher education clusters and the medical sector in the vicinity of the NMUT to enhance the international competitiveness of Hong Kong’s post-secondary education.”

         The Task Group was established in October last year and has formulated the directions and parameters for establishing the new medical school. The 10 key parameters for consideration consist of Innovative strategic positioning, Staffing, Campus and teaching facilities, Clinical exposure and learning resources, Curriculum structure and assessment methodologies, Student admission arrangements, Funding arrangements, Implementation plan, Teaching and learning quality, as well as Research excellence. The Task Group issued a letter of invitation in December last year to local universities interested in establishing the new medical school for submission of proposals by March 17 this year, and held a briefing session to introduce to universities the relevant arrangements.    

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25, QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF 2024-25 AND FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

    Source: Government of India (2)

    SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25, QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF 2024-25 AND FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

    Real GDP Growth Rate of 9.2% for 2023-24 is the highest in the previous 12 years except for 2021-22

    Growth Rate of Real GDP for 2024-25 is estimated as 6.5%

    Real GDP has observed a Growth Rate of 6.2% in Q3 of FY 2024-25

    Posted On: 28 FEB 2025 4:00PM by PIB Delhi

          The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing in this Press Note the Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) for Financial Year (FY) 2024-25; Quarterly Estimates of GDP for October-December Quarter (Q3) of FY 2024-25 along with its expenditure components and following Revised Estimates of GDP, National Income, Consumption Expenditure, Saving and Capital Formation:

    a.  First Revised Estimates (FRE) for the Financial year 2023-24;

    b.  Second Revised Estimates or Final Estimates (FE) for the Financial year 2022-23.

         These estimates are released both at Constant (2011-12) and Current Prices, in accordance with the release calendar of National Accounts. Detailed Notes on: (i) Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) of FY 2024-25, Quarterly Estimates of GDP for October-December Quarter (Q3) of FY 2024-25 and (ii) Abovementioned Revised Estimates for financial years 2023-24 and 2022-23 are given respectively in Part A and Part B of the Press Note.

    Key Highlights:

    1.    Real GDP has been estimated to grow by 6.5% in FY 2024-25. Nominal GDP is expected to witness a growth rate of 9.9% in FY 2024-25. Both the growth rates are revised upward from their respective First Advance Estimates.

    2.    As per the First Revised Estimates, Real GDP has grown by 9.2% in the financial year 2023-24, which is highest in the previous 12 years except for the financial year 2021-22 (the post-covid year). This growth has been contributed by double-digit growth rates in ‘Manufacturing’ sector (12.3%), ‘Construction’ sector (10.4%) and ‘Financial, Real Estate & Professional Services’ sector (10.3%).

    3.    As per the Final Estimates, Real GDP has observed a growth rate of 7.6% in the financial year 2022-23, mainly contributed by double-digit growth rates in ‘Trade, Hotels, Transport, Communication & Services related to Broadcasting’ sector (12.3%), ‘Financial, Real Estate & Professional Services’ sector (10.8%) and ‘Electricity, Gas, Water Supply & Other Utility Services’ sector (10.8%).

    4.    Real GDP is estimated to grow by 6.2% in Q3 of FY 2024-25. Growth rate in Nominal GDP for Q3 of FY 2024-25 has been estimated at 9.9%.

    5.    The growth rate of Real GDP for Q2 of financial year 2024-25 has been revised upward to 5.6%.

    6.    ‘Construction’ sector is estimated to observe a growth rate of 8.6%, followed by ‘Financial, Real Estate & Professional Services’ sector (7.2%) and ‘Trade, Hotels, Transport, Communication & Services related to Broadcasting’ sector (6.4%) during 2024-25.

    7.    Private Final Consumption Expenditure (PFCE) is expected to register a good growth of 7.6% during 2024-25 as compared to 5.6% growth observed during 2023-24.

     

      PART A

    NOTE ON SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25 

    QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCT-DEC) OF 2024-25  

             The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing in this Press Note, the Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) for the Financial Year (FY) 2024-25 and Quarterly Estimates of GDP for the Third quarter (October-December) of 2024-25 along with its expenditure components both at Constant (2011-12) and Current Prices. Annual, Quarterly as well as April-December estimates of Gross Value Added (GVA) at Basic Prices by kind of economic activity along with year on year percent changes, expenditure components of GDP and annual estimates of Gross/Net National Income and Per Capita Income for the Financial years 2022-23, 2023-24 and 2024-25 at Constant and Current Prices are given in Statements 1A to 12A of Annexure A.

    I.  Annual Estimates and Growth Rates

              Real GDP or GDP at Constant Prices is estimated to attain a level of ₹187.95 lakh crore in the financial year 2024-25, against the First Revised Estimate of GDP for the year 2023-24 of ₹176.51 lakh crore. The growth rate in Real GDP during 2024-25 is estimated at 6.5% as compared to 9.2% in 2023-24. Nominal GDP or GDP at Current Prices is estimated to attain a level of ₹331.03 lakh crore in the year 2024-25, against ₹301.23 lakh crore in 2023-24, showing a growth rate of 9.9%.

               Real GVA is estimated at ₹171.80 lakh crore in the year 2024-25, against the FRE for the year 2023-24 of ₹161.51 lakh crore, registering a growth rate of 6.4% as compared to 8.6% growth rate in 2023-24. Nominal GVA is estimated to attain a level of ₹300.15 lakh crore during FY 2024-25, against ₹274.13 lakh crore in 2023-24, showing a growth rate of 9.5%

     

    Fig. 1: Annual GDP and GVA Estimates along with Y-o-Y Growth Rates at Constant Prices

     

    Fig. 2: Sectoral Composition and Growth Rates of Annual GVA

    Sectoral Composition of Nominal GVA in FY 2024-25

     

    Fig. 3: Composition and Growth Rates of Annual GVA in Broad Sectors

     

    II. Quarterly Estimates and Growth Rates

               Real GDP or GDP at Constant Prices in Q3 of FY 2024-25 is estimated at ₹47.17 lakh crore, against ₹44.44 lakh crore in Q3 of FY 2023-24, showing a growth rate of 6.2%. Nominal GDP or GDP at Current Prices in Q3 of FY 2024-25 is estimated at ₹84.74 lakh crore, against ₹77.10 lakh crore in Q3 of FY 2023-24, showing a growth rate of 9.9%.

                Real GVA in Q3 of FY 2024-25 is estimated at ₹43.13 lakh crore, against ₹40.60 lakh crore in Q3 of FY 2023-24, showing a growth rate of 6.2%. Nominal GVA in Q3 of FY 2024-25 is estimated at ₹77.06 lakh crore, against ₹69.90 lakh crore in Q3 of FY 2023-24, showing a growth rate of 10.2%.

    Fig. 4: Quarterly GDP and GVA Estimates along with Y-o-Y Growth Rates from Q1 FY 2021-22 to Q3 FY 2024-25 at Constant Prices

     

    Fig. 5: Sectoral Composition and Growth Rates of Quarterly GVA

    Sectoral Composition of Nominal GVA in Q3 of FY 2024-25

     

    Fig. 6: Composition and Growth Rates of Quarterly GVA in Broad Sectors

     

    [Primary Sector: Agriculture, Livestock, Forestry & Fishing and Mining & Quarrying 

    Secondary Sector: Manufacturing, Electricity, Gas, Water supply & Other Utility Services and    Construction

    Tertiary Sector: Trade, Hotels, Transport, Communication and Services related to Broadcasting, Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services]

     

    III. Methodology and Major Data Sources:            

               Second Advance Estimates of Annual GDP and Quarterly Estimates GDP are compiled using the Benchmark-indicator method i.e. the estimates available for the previous financial year (2023-24) are extrapolated using the relevant indicators reflecting the performance of sectors. The First Advance Estimates (FAE) of Annual GDP for the financial year 2024-25 were released on 7th January, 2025, which were based on very limited data and used Provisional Estimates of 2023-24 as Benchmark Estimates. For Compilation of SAE, 2024-25, the Provisional Estimates of 2023-24 used at the time of FAE have been replaced by FRE, 2023-24 which have been compiled using industry-wise/institution-wise detailed information. Thus, overall as well as sectoral variations in SAE from FAE is attributed to revision of benchmark estimates and additional or updated data available on various indicators. The quarterly estimates of previous years along with the First and Second quarter estimates of 2024-25 released earlier have also undergone revision in accordance with the revision policy of National Accounts.

                The sector-wise estimates have been compiled using indicators/data sources like (i) Index of Industrial Production (IIP), (ii) Financial performance of Listed Companies based on available quarterly financial results of these companies upto Q3 FY 2024-25, (iii) Estimates of Major Agricultural Crops and Horticultural crops for 2024-25, as provided by Ministry of Agriculture and Farmers’ Welfare (iv) Production Targets and Summer as well as Rainy season production estimates of Major Livestock Products for FY 2024-25; (v) Fish Production, (vi) Production of Coal, Crude Petroleum, Natural Gas, Cement and Consumption of Steel, (vii) Net Tonne Kilometres and Passenger Kilometres for Railways, (viii) Passenger and Cargo traffic handled by Civil Aviation, (ix) Cargo traffic handled at Major and Minor Sea Ports, (x) Sales of Commercial Vehicles, (xi) Bank Deposits and Credits, (xii) Premium related information of Life and Non-Life Insurance companies, (xiii) Data on outward Supplies of Goods and Services available from GSTN upto January, 2025 (xiv) Accounts of Central and State Governments, (xv) Goods and Services Tax collections etc., available for first 9-10 months of the FY 2024-25. Year-on-Year growth rates (%) in the main indicators used in the estimation are given in the Annexure B.

                Total tax revenue used for GDP compilation includes non-GST revenue as well as GST revenue. The Revised Estimates of Tax revenue for 2024-25 as available in the Annual Financial Statement of the Central Government, along with latest available information from the websites of Controller General of Accounts (CGA) and Comptroller and Auditor General of India (CAG) have been used for estimating taxes on products at Current Prices. For compiling taxes on products at Constant Prices, volume extrapolation is done using volume growth of taxed goods and services. The total product subsidies at Current prices were compiled using the latest information on major subsidies viz. Food, Urea, Petroleum and Nutrient based subsidy for Centre as available on CGA website and the expenditure incurred on subsidies by most States up to December 2024 as available on CAG website along with the Centre/State-wise RE and BE provision for FY 2024-25. Information available on Revenue expenditure, Interest payments, Subsidies etc. from Centre and States for FY 2024-25 were used for estimating Government Final Consumption Expenditure (GFCE).

                Improved data coverage and revision in input data made by source agencies would have a bearing on subsequent revisions of these estimates. Estimates are, therefore, likely to undergo revisions for the aforesaid causes in due course, as per the release calendar. Users should take these into consideration while interpreting the figures. The Provisional Estimates of Annual GDP for FY 2024-25 along with Quarterly GDP estimates for the quarter January-March of FY 2024-25 (Q4 2024-25) will be released on 30.05.2025.

     

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    Annexure A

     

    Annexure B

     

    PART B

    NOTE ON FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

                In this part of the press note, First Revised Estimates of GDP, National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2023-24 and Second Revised/ Final Estimates for the financial year 2022-23 are given.

    2.         The First Revised Estimates for the year 2023-24 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31st May, 2024. The estimates of Gross Domestic Product (GDP) and other aggregates for the year 2022-23 have also undergone revisions on account of use of latest available datasets on agricultural production; industrial production (final results of Annual Survey of Industries: 2022-23); government data as available in budget documents (replacing Revised Estimates with actuals for the year 2022-23); comprehensive data available from various source agencies like Ministry of Corporate Affairs (MCA), Reserve Bank of India (RBI), National Bank for Agriculture and Rural Development (NABARD) etc. and additional data from State/UT Directorates of Economics and Statistics (DES).

    3.         The salient features of the revised estimates at aggregate level are given in the paras as follows.

    Gross Domestic Product

    4.         Real GDP or GDP at constant (2011-12) prices for the years 2023-24 and 2022-23 stands at ₹176.51 lakh crore and ₹161.65 lakh crore, respectively, showing a growth of 9.2 per cent during 2023-24 as compared to growth of 7.6 per cent during 2022-23.

    5.         Nominal GDP or GDP at current prices for the year 2023-24 is estimated at ₹301.23 lakh crore, against ₹268.90 lakh crore for the year 2022-23, showing a growth of 12.0 per cent during 2023-24 as compared to growth of 14.0 per cent during 2022-23.

    GVA and its Industry-wise Analysis

    6.         At the aggregate level, nominal Gross Value Added (GVA) at basic prices has increased by 11.2 per cent during 2023-24 compared to growth of 13.9 per cent during 2022-23. Real GVA, i.e., GVA at constant (2011-12) prices, has increased by 8.6 per cent in 2023-24, compared to 7.2 per cent growth in 2022-23.

    7.         The shares of broad sectors of the economy in overall GVA during 2011-12 to 2023-24 and the annual growth rates during these periods are mentioned below:

    #: Final Estimates; @: First Revised Estimates

    8.         The growth rates of Primary sector (comprising Agriculture, Livestock, Forestry, Fishing and Mining & Quarrying), Secondary sector (comprising Manufacturing, Electricity, Gas, Water Supply & Other Utility Services, and Construction) and Tertiary sector (Services) have been estimated as 2.7 per cent, 11.4 per cent and 9.0 per cent respectively in 2023-24 as against growth rates of 5.9 per cent, 2.4 per cent and 10.3 per cent respectively in the previous years. The growth in real GVA during 2023-24 is on account of growth in ‘Manufacturing’, ‘Electricity, Gas, Water Supply & Other Utility Services’, ‘Construction’, ‘Trade, repair, Hotels and Restaurants’, ‘Financial Services’, ‘Real Estate, Ownership of Dwelling & Professional Services’ and ‘Other services’ as may be seen from Statement 4.2B. However, ‘Agriculture, Livestock, Forestry and Fishing’, ‘Mining and Quarrying’ and ‘Public Administration and Defense’ have witnessed modest growth.

    Net National Income

    9.         Net National Income (NNI) at current prices for the year 2023-24 stands at ₹263.50 lakh crore as against ₹233.91 lakh crore in 2022-23, showing a growth of 12.7 per cent during 2023-24 as compared to growth of 13.3 per cent in the previous year.

    Gross National Disposable Income

    10.       Gross National Disposable Income (GNDI) at current prices is estimated at ₹305.94 lakh crore for the year 2023-24, while the estimate for the year 2022-23 stands at ₹273.39 lakh crore, showing a growth of 11.9 per cent for year 2023-24 as compared to growth of 14.3 per cent in the year 2022-23.

    Saving

    11.       Gross Saving during 2023-24 is estimated at ₹92.59 lakh crore against ₹82.44 lakh crore during 2022-23. Share of Non-financial corporations, Financial corporations, General Government and Household sectors in Gross Savings during 2023-24 stands at 36.0%, 8.2%, (-) 3.1% and 59.0% respectively. Rate of Gross Saving to GNDI for 2023-24 is estimated at 30.3 per cent as against 30.2 per cent for 2022-23.

    Capital Formation

    12.       Gross Capital Formation (GCF) at current prices is estimated at ₹94.68 lakh crore for the year 2023-24 as compared to ₹87.72 lakh crore during 2022-23. The rate of GCF to GDP is 31.4 per cent during 2023-24 as against 32.6 per cent in the 2022-23. The rates of capital formation in the years 2011-12 to 2019-20 and 2021-22 to 2023-24 have been higher than the rate of saving because of positive net capital flow from Rest of the World (RoW).

    13.       In terms of the share to the total GFCF (at current prices), the highest contributor is Non-Financial Corporations followed by Household sector, share of which stood at 44.2% and 41.7% respectively in 2023-24.

    14.       The rate of GCF to GDP at constant (2011-12) prices was 35.2 per cent in 2022-23 and 34.6 per cent in 2023-24.

    Consumption Expenditure

    15.       Private Final Consumption Expenditure (PFCE) at current prices is estimated at ₹181.30 lakh crore for the year 2023-24 as against ₹165.28 lakh crore in 2022-23. In relation to GDP, the PFCE to GDP ratio at current prices during 2022-23 and 2023-24 are 61.5 per cent and 60.2 per cent respectively. At constant (2011-12) prices, the PFCE is estimated at ₹93.85 lakh crore and ₹99.07 lakh crore, respectively for the years 2022-23 and 2023-24. The corresponding PFCE to GDP ratio for the years 2022-23 and 2023-24 are 58.1 per cent and 56.1 per cent respectively.

    16.       Government Final Consumption Expenditure (GFCE) at current prices is estimated at ₹31.04 lakh crore for the year 2023-24 as against ₹27.58 lakh crore during 2022-23. At constant (2011-12) prices the estimates of GFCE for the years 2022-23 and 2023-24 stand at ₹15.44 lakh crore and ₹16.70 lakh crore respectively.

    Per Capita Estimates

    17.       Per Capita Income i.e. Per Capita Net National Income at current prices is estimated at ₹1,69,145 and ₹1,88,892 respectively for the years 2022-23 and 2023-24. Per Capita PFCE at current prices, for the years 2022-23 and 2023-24 is estimated at ₹1,19,516 and ₹1,29,967 respectively.

    Summary of Revisions in the GDP Estimates

    Revision in the estimates of the year 2023-24

    18.       The following statement gives the major reasons of variation between the Provisional Estimates (released on 31st May, 2024) and the First Revised Estimates of GVA for 2023-24.

     

    Sector

    GVA growth in 2023-24

    (at 2011-12 Prices)

    Major reasons for variation

    Provisional Estimate (PE),

    May 2024

    First Revised Estimate (FRE),

    Feb 2025

    Primary

    2.1

    2.7

    GVA estimates of Agriculture, Livestock, Forestry and Fishing sectors have undergone revision due to revision in production estimates of crop sector as per Final Estimate of Ministry of Agriculture and Farmers welfare. The revision in other industries in Primary Sector is due to the incorporation of latest revised data.

    Secondary

    9.7

    11.4

    Estimates of secondary sector have undergone revision due to use of data from source agencies along with detailed analysis of Non-departmental Enterprises (NDE) & Private Corporate sectors and budget documents of Government whereas provisional estimates were indicator based.

    Tertiary

    7.6

    9.0

    Data from source agencies along with detailed analysis of Departmental Enterprises (DE), NDE and Private Corporate sectors have been used for compilation of estimates for FRE 2023-24 whereas provisional estimates were indicator based. Furthermore, the revision in Public Administration and Defence sector is due to the use of detailed analysis of Budget documents (Centre and State Governments) and latest information of Local Bodies and Autonomous Bodies. In case of Financial services, FRE is based on analysis of annual reports of Financial Corporations and data released by RBI, NABARD and other financial regulators.

    Total GVA at Basic Prices

    7.2

    8.6

     

    GDP

    8.2

    9.2

     

    [Primary Sector: Agriculture, Livestock, Forestry & Fishing and Mining & Quarrying 

    Secondary Sector: Manufacturing, Electricity, Gas, Water supply & Other Utility Services and    Construction

    Tertiary Sector: Trade, Hotels, Transport, Communication and Services related to Broadcasting, Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services]

     

    Revisions in the estimates of the year 2022-23

    19.       The use of latest available data from various agencies has resulted in changes in both the levels of GVA and growth estimates for the years 2022-23.

    Revisions in Major Aggregates

    20.       The level of revisions in the major aggregates at current and constant (2011-12) prices are given in the following table:

     

    Major National Income Aggregates and their % Changes

                                                                                       (₹ in Lakh Crore)

    Sl. No.

    Item

    2022-23

    1st RE

    Final Estimates

    % change

    At Current Prices

    1

    GVA at basic prices

    246.59  

    246.47

    -0.1

    2

    GDP

    269.50

    268.90

    -0.2

    3

    GNI

    265.79

    265.20

    -0.2

    4

    NNI

    234.39

    233.91

    -0.2

    5

    GNDI

    273.99

    273.39

    -0.2

    At Constant Prices

    1

    GVA at basic prices

    148.05

    148.78

    0.5

    2

    GDP

    160.71

    161.65

    0.6

    3

    GNI

    158.31

    159.39

    0.7

    4

    NNI

    137.47

    138.51

    0.8

     

    Major reasons for revisions in GVA/GDP estimates for FY 2022-23 are as given below:

    • Use of updated production estimates (Final Estimates) of horticulture crops from Ministry of Agriculture and Farmers’ Welfare, increase in area under fodder crop and increase in production of sugarcane.
    • Increase in input value due to use of Cost of Cultivation Survey (CCS) 2022-23 and Electricity tariff for agriculture sector for the year 2022-23.
    • Use of updated information from NDE and updated information on minor minerals from States in case of Mining & Quarrying sector.
    • Use of final results of Annual Survey of Industries (ASI): 2022-23 and augmented data for non-financial private corporate sector.
    • Use of ‘Actuals’ in place of ‘Revised Estimates’ of different items of expenditure and receipts in the Central & State government budgets.
    • Use of updated information on Local Bodies & Autonomous Institutions.
    • Use of latest annual reports of Public Sector Enterprises.
    • Use of latest data received for Cooperative Banks, Post Office Saving Bank (POSB), Non-Banking Financial Institutions (NBFIs), and Financial Auxiliaries.

    Detailed statements

    21.       List of Statements released in part ‘B’ of the press note is given below. More details of the revised estimates, i.e., FRE 2023-24 and FE 2022-23 are available in Statements 1.1B to 9B of Annexure C, which are given in the PDF format of the press note.

    1. Statement 1.1B:          Key Aggregates of National Accounts at Current Prices
    2. Statement 1.2B:          Key Aggregates of National Accounts at Constant (2011-12) Prices
    3. Statement 2B:             Per Capita Income, Product and Final Consumption
    4. Statement 3.1B:          Output by Economic Activity and Capital Formation by Industry of Use at Current Prices
    5. Statement 3.2B:          Output by Economic Activity and Capital Formation by Industry of Use at Constant (2011-12) Prices
    6. Statement 4.1B:          Gross Value Added by Economic Activity at Current Basic Prices
    7. Statement 4.2B:          Gross Value Added by Economic Activity at Constant (2011-12) Basic Prices
    8. Statement 5B:             Finances for Gross Capital Formation
    9. Statement 6.1B:          Gross Capital Formation by Industry of Use at Current Prices
    10. Statement 6.2B:          Gross Capital Formation by Industry of Use at Constant (2011-12) Prices
    11. Statement 7.1B:          Gross Fixed Capital Formation by Asset & Institutional Sector at Current Prices
    12. Statement 7.2B:          Gross Fixed Capital Formation by Asset & Institutional Sector at Constant (2011-12) Prices                   
    13. Statement 8.1B:          Private Final Consumption Expenditure at Current Prices
    14. Statement 8.2B:          Private Final Consumption Expenditure at Constant (2011-12) Prices
    15. Statement 9B:             Institutional Sectors – Key Economic Indicators at Current Prices

    **************

    Annexure C

    FORMULAE

    1. GVA at basic prices (Production Approach) = Output at basic prices – Intermediate Consumption
    2. GVA at basic prices (Income Approach) = CE + OS/MI + CFC + Production taxes less Production subsidies(i)
    3. GDP = ∑ GVA at basic prices + Product taxes less Product subsidies(ii)
    4. NDP/NNI = GDP/GNI – CFC
    5. GNI = GDP + Net primary income from ROW (Receipts less payments)
    6. Primary Incomes = CE + Property and Entrepreneurial Income
    7. NNDI =NNI + other current transfers(iii) from ROW, net (Receipts less payments)
    8. GNDI = NNDI + CFC = GNI + other current transfers(iii) from ROW, net (Receipts less payments)
    9. Gross Capital Formation(iv) (Financing Side) = Gross Savings + Net Capital Inflow from ROW
    10. GCF (Expenditure Side) = GFCF + CIS + Valuables
    11. Gross Disposable Income of Govt. = GFCE + Gross Saving of General Government
    12. Gross Disposable Income (GDI) of Households = GNDI – GDI of Govt. – Gross Savings of All Corporations

     

    REMARKS ON THE FORMULAE

    1. Production taxes or subsidies are paid or received with relation to production and are independent of the volume of actual production. Some examples are:

    Production Taxes – Land Revenues, Stamps & Registration fees and Tax on profession

    Production Subsidies – Subsidies to Railways, Subsidies to village and small industries.

    1. Product taxes or subsidies are paid or received on per unit of product. Some examples are:

    Product Taxes- Goods & Service Tax, Excise duties, Sales tax, Service Tax and Import, Export duties

    Product Subsidies- Food, Petroleum and fertilizer subsidies.

    1. Other Current Transfers refers to current transfers other than the primary incomes.

    Gross Capital Formation (GCF) at the current as well as the constant prices is estimated by two approaches: – (i) through flow of funds, derived as Gross Saving plus net capital flow from Rest of the World (RoW); and (ii) by the commodity flow approach, derived by the type of assets.

    Click here to see Press Note in PDF format

    ********

    Samrat/ Dheeraj/Allen

    (Release ID: 2106921) Visitor Counter : 310

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Mr. Reuven Azar, Ambassador of Israel, calls on Dr. Devesh Chaturvedi, Secretary, Ministry of Agriculture and Farmers’ Welfare

    Source: Government of India

    Posted On: 28 FEB 2025 3:43PM by PIB Delhi

    Ambassador of Israel, Mr. Reuven Azar called on Secretary, Ministry of Agriculture and Farmers’ Welfare Dr. Devesh Chaturvedi at Krishi Bhawan, New Delhi. The meeting served as a platform to explore opportunities for strengthening cooperation in agriculture and allied sectors, with a focus on food security, sustainable supply chains, and innovative agricultural technologies.

    Dr. Chaturvedi emphasized the longstanding partnership between India and Israel in agriculture and allied sectors. He also highlighted the Prime Minister’s vision for recycling sewage water for agricultural use, as well as key trade and grain storage issues.

    The meeting focused on the upcoming visit of the Minister of Agriculture and Food Security of Israel, the impact of Centers of Excellence (CoEs) across 20 states on productivity, precision irrigation, post-harvest management, and market access issues.

    The discussions concluded with a shared commitment to strengthening Indo-Israel cooperation in agricultural innovation, technologies, and the horticulture sector, emphasizing mutually beneficial outcomes for both nations.

    The Israeli delegation included Mr. Fares Saeb, Deputy Chief of Mission. The Indian side was represented by senior officials from the Department of Agriculture & Farmers’ Welfare (DA&FW), including Joint Secretary (International Cooperation), Joint Secretary (MIDH) and Additional Commissioner (Plant Protection).

    *****

    MG/RN/KSR

    (Release ID: 2106918) Visitor Counter : 47

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Rail Sea Rail (RSR) Mode Coal Movement Almost Doubles in Two years to 54 MT in FY 24

    Source: Government of India

    Rail Sea Rail (RSR) Mode Coal Movement Almost Doubles in Two years to 54 MT in FY 24

    Push to Coal Ministries Efforts to Make Coal Transportation Competitive: Indian Railways Notifies Telescopic Benefit in Freight Rate to Coal Movement RSR Mode

    Posted On: 28 FEB 2025 3:26PM by PIB Delhi

    The Ministry of Coal has taken initiatives to promote Rail-Sea-Rail (RSR) which aims to integrate the RSR transportation for efficient movement of coal. This multi-modal system allows for seamless transportation of coal from mines to port and to their end users, while improving logistical efficiencies.

    The RSR mode reduces congestion on the all-rail route (ARR) by providing additional alternative mode of coal evacuation and ensures lower carbon-footprint compared to ARR mode of coal movement. The coastal shipping mode of transportation has potential to revolutionize India’s logistics industry.

    Over the last few years Ministry of Coal has made significant strides in use of the coal Rail-Sea-Rail (RSR) networks for evacuation of coal in coordination with Railways. As a result, the coal movement which was 28 MT in FY22 has almost doubled to 54 MT in FY 24 and is on the increasing trend.

    To achieve further increase in RSR mode for coal movement, Indian Railways has notified in February 2025 their decision to permit telescopic benefit in freight rate to coal movement to power houses transported from coal mines of CIL and its Subsidiaries. This would further aid in increasing the coal movement in RSR mode.

    At present movement of domestic coal from mines has been taking place through Rail-Sea-Rail (RSR) route in order to meet demand of various power plants. This involves movement of coal by rail in two legs i.e. from mines to Unloading Port as first leg and from subsequent Loading Port to power plants as second leg.  As a matter of policy, the charging of both the legs of rail transportation was done separately and independently by Railways.

    The telescopic benefit reduces rail freight for coal movement as compared to charging coal freight in both legs separately, resulting in reduced cost of transportation in RSR mode.

    This decision of Railways will aid in increasing the volume of coal movement further in RSR mode and promote coastal shipping.

    The Ministry of Coal remains committed to enhancing the Rail-Sea-Rail Coal Evacuation strategy to consistently meet the nation’s growing energy demands, ensuring a resilient and efficient energy supply system.

    ****

    Shuhaib T

    (Release ID: 2106915) Visitor Counter : 72

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Dr. Mansukh Mandaviya Chairs 237th meeting of Central Board of Trustees (CBT), EPF

    Source: Government of India

    Dr. Mansukh Mandaviya Chairs 237th meeting of Central Board of Trustees (CBT), EPF

    Central Board Recommends 8.25% Rate of Interest on EPF to its Subscribers for FY 2024-25

    Key Modifications Approved in EDLI Scheme; To Provide Greater Financial Security and Support to Family of Members

    Posted On: 28 FEB 2025 3:23PM by PIB Delhi

    Union Minister for Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya chaired the 237th meeting of Central Board of Trustees (CBT), EPF in New Delhi today. The Vice-Chairman Sushri Shobha Karandlaje, Union Minister of State for Labour & Employment and Micro, Small & Medium Enterprises, Co-Vice-Chairperson Ms. Sumita Dawra, Secretary, Labour & Employment and Member Secretary Mr. Ramesh Krishnamurthi, Central PF Commissioner were also present during the meeting.

    CBT recommended 8.25% annual rate of interest to be credited on EPF accumulations in members’ accounts for the financial year 2024-25. The interest rate would be officially notified by the Government of India, following which EPFO would credit the rate of interest into the subscribers’ accounts.

    Compared to many other fixed-income instruments, the Employees’ Provident Fund (EPF) offers relatively high and stable returns, ensuring steady growth of savings. The interest earned on EPF deposits is tax-free (up to a specified limit), making it a highly attractive investment option for salaried individuals. This reflects strong confidence in the credit profile of EPFO’s investments and its ability to deliver competitive returns to its members.

    Further continuing with the reform agenda, the CBT, under the chairmanship of Dr. Mansukh Mandaviya, took a series of path breaking decisions during the CBT meeting. The major decisions taken by the Board in the meeting include:

    • Enhancement of insurance benefits under EDLI Scheme: Following the actuarial valuation of the Employees’ Deposit Linked Insurance (EDLI) scheme, the Board approved key modifications in scheme to provide greater financial security and support to the family of members. This will address major grievances under this category and ensure a more inclusive approach to benefit claimants.

    Key enhancements under the revised scheme would be:

    1. Minimum Benefit Introduced for death within one year of service: A minimum life insurance benefit of Rs. 50,000 will be provided in cases where an EPF member dies without completing one year of continuous service. This amendment is expected to result in higher benefits for more than 5,000 cases of deaths in service, every year.

    2. Benefit for Members who die while in service after a non-contributory period: Previously, EDLI benefits were getting denied in such cases considering these as death away from service. Now, if a member passes away within six months of their last contribution received, the EDLI benefit will be admissible, provided the member’s name is not stuck off from rolls. The modification is estimated to result in benefits for more than 14,000 cases of such death cases every year.

    3. Consideration of Service Continuity: Earlier, a gap of even one or two days (such as weekends or holidays) between employment in two establishments led to the denial of minimum EDLI benefits of Rs 2.5 lakh and maximum of Rs 7 lakh, as the condition continuous service of one year was not met. Under the new modifications, a gap of up to two months between two spells of employment will now be considered as continuous service, ensuring eligibility for higher quantum EDLI benefits. This change is expected to benefit more than 1,000 cases of deaths in service, every year.

    The modifications are estimated to result in higher benefits under EDLI in more than 20,000 cases of death in service every year. These improvements aim to enhance the social security benefits for families of EPF members, ensuring better financial protection and reducing hardships faced by families in distress.

    • Status Note on Hon’ble Supreme Court Judgment on PoHW: For implementation of Hon’ble Supreme Court judgment dated 04.11.2022 relating to Pension on Higher Wages (PoHW), various steps have been taken by EPFO to facilitate members/pensioners/employers. CBT was apprised that EPFO is working on a mission mode and 72% of the applications have been processed.

    • Performance in Centralised Pension Payments System (CPPS): The Employees’ Provident Fund Organization (EPFO) has successfully implemented the Centralized Pension Payment System (CPPS) across all Regional Offices (ROs) from January 2025. Under this system, pension payments for all ROs are disbursed through a Centralized Pension Disbursement Account (CPDA) maintained at the New Delhi Branch of SBI. This will significantly reduce the grievances of pensioners who earlier had to wait for a long time for transfer of their case details from one RO to another. During the month of January, 2025, pension to 69.35 lakh pensioners amounting to Rs. 1710 crore was disbursed through CPPS.

    • Rationalizing Damages and Reducing Litigation: One of the major reasons for litigation has been the cases of imposition of damages for belated remittances of PF dues. The rate of imposition of damages had been rationalized to 1% per month of delay vide a Gazette Notification dated 14.06.2024. This is effective for defaults after the date of notification i.e. June 2024. In respect of defaults that had occurred prior to this period the rate of damages applicable ranged from 5% for delays for two months and up to 25% for delays beyond 6 months. In order to mitigate this situation and with a view of reduce and control the litigation, it was discussed to introduce a statutory mechanism wherein there would be an automatic abatement of cases on deposit of damages at the rate of 1% per month of delay.

    • Approval of Annual Budget of EPFO: The Board also approved the Revised Estimates for the year 2024-25 and Budget Estimates for the year 2025-26 for EPFO and the schemes administered by it.

    In the above meeting of CBT, representatives from the employers, employees and other senior officers of the Central Government and EPFO were also present.

    ***

    Himanshu Pathak

    (Release ID: 2106914) Visitor Counter : 130

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 10,000 FPOs Achieved under Government’s Flagship Scheme

    Source: Government of India

    10,000 FPOs Achieved under Government’s Flagship Scheme

    A Step Towards Atmnirbhar Krishi

    Posted On: 28 FEB 2025 3:21PM by PIB Delhi

    Introduction

    The Central Sector Scheme for “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs) was launched by Prime Minister Shri Narendra Modi on 29th February, 2020. The scheme was launched with a budget outlay of ₹6,865 Crore till 2027-28. Since the launch of the scheme, ₹254.4 Crore in equity grants has been released to 4,761 FPOs and credit guarantee cover worth ₹453 Cr. has been issued to 1,900 FPOs.[1]

    [2]

    Recently, on the occasion of the release of the 19th instalment of PM-KISAN in Bhagalpur, Bihar, Prime Minister Shri Narendra Modi launched the 10,000th FPO. The 10,000th FPO has been registered in Khagaria district and focuses on maize, banana, and paddy. FPOs are not just organizations but an unprecedented force to increase farmers’ income and provide small farmers with direct access to significant market benefits, bargaining power and improving market access. Approximately 30 lakh farmers in the country are connected to FPOs, with around 40 percent of them being women. These FPOs are now conducting business worth thousands of crores in the agricultural sector.[3]

    Under this scheme, there is a provision for handholding support for a period of five years to each new FPO formed, and financial assistance to the tune of Rs.18 lakhs to each FPO under the scheme towards management cost for 3 years. Additionally, matching equity grant upto Rs. 2,000 per farmer member of FPO with a limit of Rs. 15.00 lakh per FPO and a credit guarantee facility upto Rs. 2 crore of project loan per FPO from eligible lending institutions to ensure institutional credit accessibility to FPOs[4]

    What are FPOs?

    Farmer Producer Organisation (FPO) is a generic name, which refers to farmer- producers’ organization incorporated/ registered either under Part IXA of Companies Act or under Co-operative Societies Act of the concerned States and formed for the purpose of leveraging collectives through economies of scale in production and marketing of agricultural and allied sector.

    The concept behind Farmer Producer Organizations is that farmers, who are the producers of agricultural products, can form groups. To facilitate this process, the Small Farmers’ Agribusiness Consortium (SFAC) was mandated by Department of Agriculture and Cooperation, Ministry of Agriculture, Govt. of India, to support the State Governments in the formation of Farmer Producer Organizations (FPOs).[5]

    The “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs)” scheme was launched with the main focus on leveraging economies of scale in production and marketing with a view to enhance productivity through efficient, cost effective and sustainable resource use for ensuring sustainable income-oriented farming, thus helping in reduction of cost of farm production and increase in farmers’ income.[6]

    Need for FPOs

    • Small, marginal and landless farmers face tremendous challenges during agriculture production phase such as for access to technology, quality seed, fertilizers and pesticides including requisite finances.
    • They also face tremendous challenges in marketing their produce due to lack of economic strength.
    • FPOs help in collectivization of such small, marginal and landless farmers in order to give them the collective strength to deal with such issues. Members of the FPO will manage their activities together in the organization to get better access to technology, input, finance and market for faster enhancement of their income.[7]

    OBJECTIVES

    1. To provide holistic and broad-based supportive ecosystem to form 10000 new FPOs to facilitate development of vibrant and sustainable income-oriented farming and for overall socio-economic development and wellbeing of agrarian communities.
    2. To enhance productivity through efficient, cost-effective and sustainable resource use and realize higher returns through better liquidity and market linkages for their produce and become sustainable through collective action.
    3. To provide handholding and support to new FPOs up to five years from the year of its creation in all aspects of management of FPO, inputs, production, processing and value addition, market linkages, credit linkages and use of technology etc.
    4. To provide effective capacity building to FPOs to develop agriculture entrepreneurship skills to become economically viable and self-sustaining beyond the period of support from the government.[8]

    Convergence of Ministries for FPOs in India-

    1. Ministry of Agriculture & Farmers Welfare: Supports FPOs in getting seed, pesticides and fertilizer licenses, and helps in providing dealership through Agri Input companies. With this assistance, FPOs are able to work as dealers/distributors and generate income. The Ministry also supports FPOs by linking them to Institutional buyers and through ecommerce platforms like ONDC, e-NAM etc.[11]
    2. Ministry of Food Processing: Support for FPOs through financial outlays, such as providing credit-linked capital subsidy @ 35% of the eligible project cost, 50% financial grant for branding and marketing.[12]
    3. Ministry of Micro & Small Enterprises: Special provisions for FPOs such as access to funds in the form of FPO management cost, equity grant and credit guarantee facility apart from capacity building trainings, marked and credit linkages.  [13]
    4. Ministry of Fisheries, Animal Husbandry, and Dairying: Benefits and schemes tailored to FPOs, such as “Supporting Dairy Cooperatives and Farmer Producer organizations engaged in dairy activities” with a total allocation of Rs. 500 Cr during 2021-22 to 2025-26.[14] Additionally, forming and promoting 100 Fodder Plus FPOs through NDDB (National Dairy Development Board).[15]
    5. APEDA (Agricultural & Processed Food Products Export Development Authority): APEDA provides assistance to APEDA registered FPOs for export and MSME under its scheme of Fund for Regeneration of Traditional Industries (SFURTI), which provides assistance for setting up enterprises.[16]
    6. Spices Board: The Sustainability in Spice Sector through Progressive, Innovative and Collaborative Interventions for Export Development (SPICED) scheme is designed to expand area and improve productivity of Cardamom (small & large). It also aimed at generating an exportable surplus of quality spices through post-harvest improvement, export promotion of spices, increasing the share of value-added spices in the export basket, evaluating compliance of export consignments with applicable standards of quality and safety, capacity building & skill development of stakeholders etc. [17]

    [18]

    Services and Activities undertaken by FPOs

    The FPOs provide and undertake following relevant major services and activities for their development:

    1. Supply quality production inputs like seed, fertilizer, pesticides and such other inputs at reasonably lower wholesale rates
    2. Make available need-based production and post-production machinery and equipment like cultivator, tiller, sprinkler set, combine harvester and such other machinery and equipment on custom hiring basis for members to reduce the per 2 unit production cost
    3. Make available value addition like cleaning, assaying, sorting, grading, packing and also farm level processing facilities at user charge basis on reasonably cheaper rate. Storage and transportation facilities may also be made available
    4. Undertake higher income generating activities like seed production, bee keeping, mushroom cultivation etc
    5. Undertake aggregation of smaller lots of farmer-members’ produce; add value to make them more marketable
    6. Facilitate market information about the produce for judicious decision in production and marketing
    7. Facilitate logistics services such as storage, transportation, loading/un-loading etc. on shared cost basis.
    8. Market the aggregated produce with better negotiation strength to the buyers and in the marketing channels offering better and remunerative prices[19]

     

    Initiatives under the scheme

    Credit Guarantee Fund: FPOs need finance, both grants and loans, to quickly establish input collectivisation, working capital, marketing and improved services to member farmers. Considering FPOs’ need for credit from formal financial institutions, a dedicated Credit Guarantee Fund (CGF) has been created under the Central Sector Scheme for Formation and Promotion of 10,000 FPOs. CGF provides credit guarantee cover to financial institutions for extending loans to FPOs.[20]

    ONDC platform: Almost 5 thousand out of 8,000 registered Farmer Producer Organizations (FPOs) have been registered on Open Network for Digital Commerce (ONDC) portal for selling the produce online to consumers across the country. The onboarding of FPOs on ONDC to reach out to their buyers in any part of the country is in line with the Central government objective of providing growers with better market access. The move aims to empower FPOs with direct access to digital marketing, online payment, business-to-business and business-to-consumer transactions.[21]

    MoU to convert 10,000 FPOs into CSCs: An MoU between CSC SPV (Common Services Centres Special Purpose Vehicle) and Ministry of Agriculture & Farmer’s Welfare was signed to convert FPOs registered under ‘Formation & Promotion of 10,000 FPOs scheme’ into CSCs and help them to deliver citizen-centric services. As per the MoU, 10,000 FPOs will be converted into CSCs. CSC SPV will enable them to provide the services that are available on the Digital Seva Portal. The delivery of CSC services through FPOs is aimed at increasing employment opportunities in rural areas.[22]

    [23]

    FPOs provide special focus to include small, marginal and women farmers/women SHGs, SC/ST farmers and other economically weaker categories etc. as members to make FPOs more effective and inclusive.
     

    How to Apply

    FPOs/FPCs can register on e-NAM Portal via website (www.enam.gov.in) or mobile app or providing following details at nearest e-NAM mandi:

    • Name of FPOs/ FPCs
    • Name, address, email Id and contact no. of authorized person (MD/CEO /Manager)
    • Bank account Details (Name of Bank, Branch, Account no. IFSC Code)[24]

    Conclusion

    Formation & promotion of FPOs is the first step for converting Krishi into Atmanirbhar Krishi. The successful formation of 10,000 Farmer Producer Organizations (FPOs) under the Central Sector Scheme marks a transformative milestone for the agriculture sector. By fostering collectivization, enhancing market access, and providing financial and institutional support, this initiative has empowered millions of small and marginal farmers, including women and economically weaker sections. This achievement not only boosts agricultural productivity and income but also contributes to rural job creation and economic resilience. As India moves forward, the continued support and expansion of FPOs will be instrumental in shaping a self-reliant, efficient, and prosperous agricultural ecosystem.

    References:

    Click here to see PDF.

    *****

    Santosh Kumar/ Ritu Kataria/ Kritika Rane

    (Release ID: 2106913) Visitor Counter : 88

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government receives 27 expression of interest submissions for Smart and Green Mass Transit System in Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas project

    Source: Hong Kong Government special administrative region

    Government receives 27 expression of interest submissions for Smart and Green Mass Transit System in Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas project
    Government receives 27 expression of interest submissions for Smart and Green Mass Transit System in Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas project
    ******************************************************************************************

         ​The Transport and Logistics Bureau, jointly with the Transport Department (TD), invited relevant system suppliers and operators to submit expressions of interest (EOI) for the Smart and Green Mass Transit System (SGMTS) project in Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas (HSK/HT and YLS NDAs) on December 20, 2024. The invitation for the EOI closed today (February 28), and a total of 27 submissions from local, Mainland and overseas companies have been received.     A spokesperson for the TD said, “The feedback gathered from the EOI will enhance our understanding of various technical aspects of the project, including system characteristics, operational capabilities, and maintenance and repair requirements. We will immediately commence analysing the information from the EOI, which will serve as a reference for firming up the specific requirements and designs of the SGMTS and the relevant infrastructure, as well as ascertaining the delivery mode and financial arrangements of the project.”     “The Government will continue to take forward the SGMTS in the HSK/HT and YLS NDAs project with full momentum, endeavouring to invite tenders for the project in 2026 and award the contract in 2027. In addition, we will make reference to the views gathered from the EOI to explore various procurement options, and to review the feasibility of shortening the overall programme of the project,” the spokesperson added.

     
    Ends/Friday, February 28, 2025Issued at HKT 18:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Import of poultry meat and products from areas in Poland and Sweden suspended

    Source: Hong Kong Government special administrative region

    Import of poultry meat and products from areas in Poland and Sweden suspended
    Import of poultry meat and products from areas in Poland and Sweden suspended
    *****************************************************************************

         ​The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (February 28) that in view of notifications from the World Organisation for Animal Health (WOAH) about outbreaks of highly pathogenic H5N1 avian influenza in Kościan District of Wielkopolskie Region in Poland, and in Municipality of Kristianstad of Skåne County in Sweden, the CFS has instructed the trade to suspend the import of poultry meat and products (including poultry eggs) from the above-mentioned areas with immediate effect to protect public health in Hong Kong.     A CFS spokesman said that according to the Census and Statistics Department, Hong Kong imported about 6 600 tonnes of frozen poultry meat from Poland, and about 110 tonnes of frozen poultry meat from Sweden last year.     “The CFS has contacted the Polish and Swedish authorities over the issues and will closely monitor information issued by the WOAH and the relevant authorities on the avian influenza outbreaks. Appropriate action will be taken in response to the development of the situation,” the spokesman said.

     
    Ends/Friday, February 28, 2025Issued at HKT 17:45

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: English translation of Press Statement by Prime Minister Shri Narendra Modi during the Joint Press Conference with President of European Commission (February 28, 2025)

    Source: Government of India (2)

    Posted On: 28 FEB 2025 3:04PM by PIB Delhi

    Your Excellency, President of the European Commission,

    European College of Commissioners,

    Delegates,

    Friends from the media,

    Namaskar!

    This visit of the President of the European Commission and the College of Commissioners to India is unprecedented.

    This isn’t just the European Commission’s first visit to India, but also the first such comprehensive engagement of the European Commission in any single country. Also, this is one of the first visits of the new Commission in its latest term. On this historic occasion, I warmly welcome the President of the European Commission and the College of Commissioners to India.

    Friends,

    This two-decade long strategic partnership between India and EU is natural and organic. Its core is built on trust, a shared belief in democratic values, and a mutual commitment to prosperity and shared progress.

    In this spirit, we have held almost 20 ministerial level meetings of different sectors between yesterday and today. Sincere and meaningful discussions were held on various regional and global matters. Many important decisions have been taken to elevate and accelerate our partnership.

    We have prepared a blueprint for collaboration in the areas of Trade, Technology, Investment, Innovation, Green Growth, Security, Skilling and Mobility. We have directed our teams to conclude a mutually beneficial Bilateral Free Trade Agreement by the end of this year.

    Friends,

    To strengthen the investment framework, there has also been talk of moving forward on Investment Protection and GI Agreement. In the field of Technology and Innovation, a trusted and secure value chain is our common priority.

    We have also agreed on increasing cooperation in semiconductors, AI, high performance computing and 6G. We have also decided to initiate a Space Dialogue.

    Friends,

    A balance between Ecology and Economy has been our shared commitment, and our cooperation in this direction has been strong. We have decided to conduct a Green Hydrogen Forum and Offshore Wind Energy Business Summit. Joint research shall be undertaken on EV Batteries, Marine plastics and Green hydrogen. We shall also take forward our Joint Plan on Sustainable Urban Development.

    In the field of connectivity, concrete steps will be taken, to take forward the India – Middle East – Europe Economic Corridor or “IMEEC”. I firmly believe that “IMEEC” shall serve as an engine that drives global commerce, sustainable growth and prosperity in the days to come.

    Friends,

    Our growing cooperation on issues related to Defence and Security, is a symbol of our mutual trust. We will take forward our cooperation on Cyber Security, Maritime Security and Counter Terrorism.

    Both sides agree on the importance of peace, security, stability and prosperity in the Indo-Pacific region. We welcome the decision of the EU to join the “Indo Pacific Oceans Initiative”. We will work together on Triangular Development projects for sustainable and inclusive development in the Indo-Pacific region and Africa.

    Friends,

    People-to-people connect is the strongest asset of our relationship. Today, we have reached a new agreement to increase academia, research and industry partnerships between us. I believe that India’s young talent and Europe’s innovation can together create limitless possibilities.

    We welcome the new visa cascade regime of the EU. This will provide better mobility to the abilities of India’s talented youth.

    Today, we have decided to create a bold and ambitious roadmap for the India-EU partnership for the period beyond 2025. It will be launched during the next India-EU Summit.

    Excellency,

    Your visit to India has given new momentum, energy and enthusiasm to our partnership. This journey is the biggest catalyst that will translate our ambition into action.

    I eagerly look forward to the opportunity of welcoming you back to India for the next India-EU Summit.

    Thank you very much.

    ******

    MJPS/ST/SKS

    (Release ID: 2106908) Visitor Counter : 106

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: National Training Course for Talents Handling Foreign-related Arbitration (Hong Kong) organised by Hong Kong International Legal Talents Training Academy and Ministry of Justice concludes

    Source: Hong Kong Government special administrative region

         The two-week National Training Course for Talents Handling Foreign-related Arbitration (Hong Kong), organised by the Hong Kong International Legal Talents Training Academy and the Ministry of Justice, concluded today (February 28).

         The Deputy Secretary for Justice, Dr Cheung Kwok-kwan, attended the closing ceremony this afternoon and expressed gratitude to the Ministry of Justice, the China University of Political Science and Law, and the China Legal Service (H.K.) Limited for their support and assistance that was crucial to the success of the training course. He also extended his gratitude to the participants for their active participation. He further mentioned that the Academy will continuously organise more tailor-made training programmes to give full play to Hong Kong’s unique strength in nurturing more foreign-related legal talent for the country.

         The two-week training course for more than 80 participants, comprising Mainland in-house counsel, experienced arbitrators, lawyers and arbitration practitioners, commenced last Monday (February 17). Speakers of the training course included members of the Hong Kong International Legal Talents Training Expert Committee and experienced local legal professionals.

         The Academy will capitalise on Hong Kong’s bilingual common law system and international status and continue to leverage the unique advantages of enjoying the strong support of the motherland and being closely connected to the world under the “one country, two systems” principle. Also, it will promote exchange of international legal talent and reinforce Hong Kong’s status as a centre for international legal and dispute resolution services in the Asia‑Pacific region, in order to develop Hong Kong as a capacity-building centre and play a better role in the construction of foreign-related rule of law of the country.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Coal Ministry Successfully Hosts Roadshow on Investment Opportunities and Commercial Coal Mine Auctions in Mumbai

    Source: Government of India (2)

    Coal Ministry Successfully Hosts Roadshow on Investment Opportunities and Commercial Coal Mine Auctions in Mumbai

    Coal Minister Reaffirms Government’s Commitment to Mine Safety and Community Welfare

    12th Round of Commercial Coal Mines Auctions to Include Underground Mines

    Posted On: 28 FEB 2025 2:49PM by PIB Delhi

    The Ministry of Coal, in its continued efforts to promote investment opportunities in the coal sector and commercial coal mine auctions, successfully conducted a high-impact roadshow today in Mumbai. The event was graced by Union Minister of Coal and Mines, Shri G. Kishan Reddy, as the Chief Guest. Also present were, Shri Vikram Dev Dutt, Secretary, Ministry of Coal, Ms. Rupinder Brar, Additional Secretary & Nominated Authority, Ministry of Coal, and senior officials from the Ministry of Coal. The event also witnessed the participation of key stakeholders, industry leaders, investors, and policy experts, who engaged in insightful discussions on the future of coal mining in India.

    The roadshow served as a strategic platform to accelerate private sector participation, enhance domestic coal production, and promote sustainable mining practices. It focused on policy reforms, ease of doing business, and technological advancements, reaffirming the Government’s commitment to unlocking the full potential of India’s coal sector while ensuring environmental sustainability and long-term energy security.

    In his keynote address, Union Minister of Coal and Mines, Shri G. Kishan Reddy highlighted the crucial role of coal in India’s economic progress, particularly in ensuring energy security and meeting growing industrial and power sector demands. He reiterated the Government’s commitment, under the leadership of Prime Minister Shri Narendra Modi, to accelerate domestic coal production, reducing import dependence, and ensuring sustainable mining practices.

     

    The Minister emphasized the remarkable growth in India’s coal production, which has enabled industries and power plants to meet their energy needs efficiently. He underscored the Government’s efforts to bridge the demand-supply gap and ensure uninterrupted coal availability for both captive and commercial consumers. Shri Reddy reaffirmed that coal remains the backbone of India’s energy landscape, contributing over 70% to electricity generation. He also outlined key reforms to attract private investment in commercial coal mining, enhance ease of doing business, and deploy advanced technologies such as automation and digital monitoring to optimize mining operations while minimizing environmental impact. Additionally, the minister highlighted the Government’s large-scale afforestation initiatives on reclaimed land, leading to the development of eco-parks, green belts, and biodiversity zones. Further, he assured that as per Mine closure plan, post-mining landscapes are being restored for sustainable use, including agriculture, forestry, and mine tourism, benefiting local communities.

    As India moves towards becoming the world’s third-largest economy and strives for Viksit Bharat 2047, minister reaffirmed the Government’s commitment to community welfare, prioritizing mine safety, rehabilitation, and skill development initiatives. Impressing upon sustainability, minister highlighted the importance of socio-economic upliftment of coal dependent communities and said that worker safety remains a priority urging coal companies to adopt best safety practices, and eco-friendly mining practices to ensure environmental conservation and long-term sectoral stability.

    In his address, Shri Vikram Dev Dutt, Secretary, Ministry of Coal, assured investors of the Ministry’s proactive approach in facilitating seamless investment in the coal sector. He emphasized that the Ministry is committed to assisting investors at every stage from obtaining clearances to project execution by coordinating with regulatory bodies and stakeholder ministries to expedite approvals for early operationalization.

     

     He further emphasized that the Ministry is ensuring a fast-tracked approval process, reducing bottlenecks, and improving transparency in the allocation of coal blocks. The Secretary reaffirmed the Ministry’s focus on afforestation on Mined-out land biodiversity conservation, and responsible mine closure practices, ensuring mining activities align with India’s sustainability goals. He also announced that the upcoming 12th round of auctions which is going to start very soon will include underground mines, offering additional financial incentives. Encouraging industry leaders and investors to actively participate in upcoming coal mine auctions, he assured them of full government support, including regulatory assistance, financial incentives, and streamlined processes to enhance business confidence. He reiterated that India’s coal sector offers immense opportunities for investment, innovation, paving the way for a self-reliant and resilient energy future.

    In her welcome address, Ms. Rupinder Brar, Additional Secretary & Nominated Authority, Ministry of Coal, underlined the strategic importance of private sector’s participation in coal mining. She reaffirmed the Ministry’s commitment to creating a transparent, competitive, and investor-friendly coal sector. She also highlighted key incentives available to investors and urged stakeholders to leverage policy reforms for long-term growth. She noted that since the commencement of commercial coal mining, coal demand has surged, and the Government has allowed its use beyond captive purposes, enabling mining companies to operate with greater flexibility and market coal as a commodity.

     

    The roadshow featured detailed discussions on investment potential, regulatory reforms, sustainability measures, and coal gasification prospects. It provided a platform for direct engagement between policymakers and industry leaders, facilitating insightful deliberations on upcoming rounds of commercial coal mine auctions, Technological advancements, best practices in sustainable coal mining, policy support for ease of doing business and fast-tracking project approvals.

    The roadshow included an engaging and interactive Q&A session, where investors actively engaged with officials, seeking clarity on policies, auction processes, and growth prospects in the coal sector. The queries of potential investors were addressed comprehensively, reinforcing confidence in the industry’s transparent and investor-friendly approach.

    The Mumbai roadshow was another significant milestone in the Ministry of Coal’s mission to promote investment, enhance domestic production, and ensure a sustainable future for coal mining in India. The event reinforced the Government’s commitment to strengthening investor confidence, fostering innovation, and advancing India’s energy security goals in line with the vision of Atmanirbhar Bharat.

    ****

    Shuhaib T

    (Release ID: 2106901) Visitor Counter : 102

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Special traffic and transport arrangements in Chai Wan during Ching Ming Festival

    Source: Hong Kong Government special administrative region

    Special traffic and transport arrangements in Chai Wan during Ching Ming Festival
    Special traffic and transport arrangements in Chai Wan during Ching Ming Festival
    *********************************************************************************

         The Transport Department (TD) today (February 28) reminded members of the public that in anticipation of a large number of grave-sweepers heading to the cemeteries along Cape Collinson Road in Chai Wan during the Ching Ming Festival period, the following special traffic and transport arrangements will be implemented there to facilitate their visits to the cemeteries.A. Special traffic arrangements (i) Temporary prohibited zone The section of Cape Collinson Road to the east of Lin Shing Road (i.e. the left-turning movement from Lin Shing Road to Cape Collinson Road leading to the Chinese Permanent Cemetery) will be temporarily designated as private car and light goods vehicle prohibited zone from 7am to 3pm daily from March 8 to April 27. All private cars and light goods vehicles, expect those with permits, will be prohibited from entering the prohibited zone. (ii) Road closures In connection with the implementation of road closures at Cape Collinson Road and its vicinity by the Police, except for the exempted vehicles, Lin Shing Road and Cape Collinson Road will be closed to all vehicular traffic from 7am to 5pm on the specified dates. 

    Road closures arrangements
    Date
    Exempted vehicles

    Phase 1 road closures
    March 22, 23, 29 and 30 and April 5, 6, 12 and 13
    Franchised buses; green minibuses (GMBs) routes 16A, 16M, 16X and 18M; taxis; hearses; funeral vehicles; and vehicles with permits

    Phase 2 road closures
    April 4(Ching Ming Festival)
    Franchised buses; GMBs routes 16A, 16M, 16X; hearses; funeral vehicles; and vehicles with permits

     B. Public transport services (i) The following special bus services will be operated on the specified dates and the bus services will be strengthened depending on the passenger demand and traffic conditions. 

    Routes
    Date
    Operating period

    Citybus (CTB) Route 388 (Circular) – between Chai Wan Station Bus Terminus and Chai Wan Cemeteries
    March 16
    10am to 2pm

    March 22, 23, 29 and 30
    9am to 4pm

    April 4(Ching Ming Festival)
    8am to 6pm

    April 5 and 6
    9am to 4pm

    April 12 and 13
    9am to 2pm

    April 19 and 20
    10am to 2pm

    CTB Route 389 (Circular) – between Shau Kei Wan Bus Terminus and Chai Wan Cemeteries
    March 23, 29 and 30
    9am to 4pm

    April 4(Ching Ming Festival)
    8am to 6pm

    April 5 and 6
    9am to 4pm

    April 12 and 13
    9am to 2pm

     (ii) CTB route X9 will operate additional departures from Shek O to Central (Central Ferry Piers) from noon to 4pm on April 4 (Ching Ming Festival). (iii) CTB routes 8X, 9 and 780 and cross harbour routes 106, 118 and 606, and GMB route 18M will be strengthened subject to passenger demand.      During the Ching Ming Festival period, adjustments to the extent of road closures, traffic control measures and public transport diversions will be made by the Police depending on the actual traffic conditions in the areas.      Grave-sweepers are advised to plan their journey early and allow more travelling time. If they would like to go to the cemeteries along Cape Collinson Road in Chai Wan outside the above-mentioned road closure periods, they should use public transport services as far as possible. They can take GMB routes 16A, 16M, 16X or 18M at Chai Wan MTR Station to Cape Collinson Road, or take CTB Route 9 at Shau Kei Wan Bus Terminus to Shek O Road near Cape Collinson Road. Grave-sweepers heading to the Cape Collinson-San Ha Columbarium may also make use of the escalators and pedestrian access route connecting San Ha Street at Chai Wan (near Chai Wan MTR Station Exit A) and the said columbarium.      The TD anticipates that the traffic in the vicinity of Cape Collinson Road, Lin Shing Road and Wan Tsui Road in Chai Wan will be busy. Motorists are advised not to drive to the congested and affected areas, and should exercise tolerance and patience in case of traffic congestion and observe the instruction given by the Police.      Members of the public are advised to be alert to the latest traffic news on radio and television. They may also visit the TD’s website (www.td.gov.hk) or use the mobile application “HKeMobility” for the latest traffic and public transport information.

     
    Ends/Friday, February 28, 2025Issued at HKT 17:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LegCo Members meet with members of Yuen Long and Islands District Councils (with photos)

    Source: Hong Kong Government special administrative region

    LegCo Members meet with members of Yuen Long and Islands District Councils (with photos)
    LegCo Members meet with members of Yuen Long and Islands District Councils (with photos)
    ****************************************************************************************

    The following is issued on behalf of the Legislative Council Secretariat:     Legislative Council (LegCo) Members met with Yuen Long District Council (DC) and Islands DC members at the LegCo Complex today (February 28). They held in-depth discussions and exchanged views on issues related to community development and people’s concern.     During the meeting with Yuen Long DC, LegCo Members discussed and exchanged views with DC members on various issues, including expediting the recreational and sports facility projects in the district; studying the expansion plan of Tin Shui Wai Hospital to address the increasing demand for public healthcare services arising from the anticipated population surge and the development of the Northern Metropolis; as well as seizing development opportunities in the Northern Metropolis to replan the public sewerage system and rural drainage projects in the new development areas to improve environmental hygiene.     The meeting was convened by Mr Michael Tien. A total of 23 Members attended the meeting including Professor Priscilla Leung, Mr Steven Ho, Mr Ma Fung-kwok, Dr Lo Wai-kwok, Dr Junius Ho, Mr Holden Chow, Mr Luk Chung-hung, Mr Lau Kwok-fan, Mr Kenneth Lau, Ms Doreen Kong, Ms Nixie Lam, Mr Lam San-keung, Mr Kenneth Leung, Ms Chan Yuet-ming, Mr Chan Pui-leung, Mr Gary Zhang, Mr Benson Luk, Mr Lai Tung-kwok, Professor Lau Chi-pang, Dr Ngan Man-yu, Mr Yim Kong and Professor Chan Wing-kwong.     As for the meeting with Islands DC, LegCo Members discussed and exchanged views with DC members on various issues, including the public facilities, public services, and ancillary transport facilities of the Tung Chung New Town Extension; the traffic congestion in the vicinity of Tung Chung Town centre and suggestions for improvements; as well as implementing initiatives from the Policy Address to develop tourist hotspots in the Islands districts to fully utilise its tourism potential.     The meeting was convened by Mrs Regina Ip. A total of 19 Members attended the meeting including Professor Priscilla Leung, Dr Chan Han-pan, Mr Kwok Wai-keung, Dr Lo Wai-kwok, Mr Chan Chun-ying, Mr Kenneth Lau, Mr Tony Tse, Ms Doreen Kong, Mr Kenneth Leung, Ms Chan Yuet-ming, Ms Judy Chan, Mr Chan Siu-hung, Ms Joephy Chan, Mr Chan Hok-fung, Mr Benson Luk, Mr Edmund Wong, Mr Kenneth Fok and Dr So Cheung-wing.

     
    Ends/Friday, February 28, 2025Issued at HKT 17:27

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Guangdong-Hong Kong-Macao Greater Bay Area Development Office holds GoGBA Development Day to help enterprises seize opportunities in country’s accelerated development of new quality productive forces (with photos)

    Source: Hong Kong Government special administrative region

         The Guangdong-Hong Kong-Macao Greater Bay Area Development Office of the Constitutional and Mainland Affairs Bureau organised the GoGBA Development Day today (February 28), attracting more than 300 participants to learn about the country’s latest strategic development direction of new quality productive forces. The seminar aimed to assist Hong Kong enterprises in understanding the latest trends of innovation and technology (I&T) development in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and, from the perspective of small and medium-sized enterprises (SMEs), to explore how to adjust corporate strategies to leverage the GBA’s strengths and technological advancements to cultivate and stimulate their own momentum for new quality growth and forge ahead with their business development.
     
         In her opening address at the event, the Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Ms Maisie Chan, said, “As one of the core cities and regional development engines of the GBA, Hong Kong plays a pivotal role in driving the development of new quality productive forces in the GBA. The Hong Kong Special Administrative Region (HKSAR) Government is vigorously nurturing new quality productive forces to achieve high-quality economic development through technological empowerment. The HKSAR Government will continue to explore the formulation of more facilitative policies conducive to the development of I&T, with the aim of attracting and encouraging more Mainland and overseas enterprises to establish a presence in Hong Kong or invest in Hong Kong, thereby converging international innovation resources. By adopting a multipronged approach, the aim is to realise the vision of developing Hong Kong into an international I&T centre.”
     
         Today’s seminar featured multidimensional insights and experiences from industry leaders, professionals and academic experts, ranging from policy interpretations and corporate practices to technology applications. Discussions included how enterprises can achieve sustainable development through technological innovation, how I&T firms can support SMEs in embracing new quality productive forces, and interpreting the policy direction of new quality productive forces and its impacts on enterprises from a macro perspective. During the panel discussion, experts and business representatives shared their invaluable insights on the developments and trends of I&T in the GBA from the perspective of SMEs, and how to capitalise on the opportunities arising from the development of new quality productive forces. On-site one-on-one consultation services were also provided by supporting partners from Hong Kong and other GBA cities.
     
         For more information about the GBA, please visit the dedicated website (www.bayarea.gov.hk/en), which also covers the content of the Greater Bay Area Information Station (www.bayarea.gov.hk/gbais/en) for easy browsing by members of the public.      

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Tongan advocates condemn Treaty Principles Bill, slam colonisation

    By Khalia Strong of Pacific Media Network

    Tongan community leaders and artists in New Zealand have criticised the Treaty Principles Bill while highlighting the ongoing impact of colonisation in Aotearoa and the Pacific.

    Oral submissions continued this week for the public to voice their view on the controversial proposed bill, which aims to redefine the legal framework of the nation’s founding document, the 1840 Treaty of Waitangi.

    Aotearoa Tongan Response Group member Pakilau Manase Lua echoed words from the Waitangi Day commemorations earlier this month.

    “The Treaty of Waitangi Principles Bill and its champions and enablers represent the spirit of the coloniser,” he said.

    Pakilau said New Zealand’s history included forcible takeovers of Sāmoa, Cook Islands, Niue and Tokelau.

    “The New Zealand government, or the Crown, has shown time and again that it has a pattern of trampling on the mana and sovereignty of indigenous peoples, not just here in Aotearoa, but also in the Pacific region.”

    Poet Karlo Mila spoke as part of a submission by a collective of artists, Mana Moana,

    “Have you ever paused to wonder why we speak English here, half a world away from England? It’s a global history of Christian white supremacy, who, with apostolic authority, ordained the doctrine of discovery to create a new world order,” she said.

    “Yes, this is where the ‘new’ in New Zealand comes from, invasion for advantage and profit, presenting itself as progress, as civilising, as salvation, as enlightenment itself — the greatest gaslighting feat of history.”

    Bill used as political weapon
    She argued that the bill was being used as a political weapon, and government rhetoric was causing division.

    “We watch political parties sow seeds of disunity using disingenuous history, harnessing hate speech and the haka of destiny, scapegoating ‘vulnerable enemies’ . . . Yes, for us, it’s a forest fire out there, and brown bodies are moving political targets, every inflammatory word finding kindling in kindred racists.”

    Pakilau said that because Tonga had never been formally colonised, Tongans had a unique view of the unfolding situation.

    “We know what sovereignty tastes like, we know what it smells like and feels like, especially when it’s trampled on.

    “Ask the American Samoans, who provide more soldiers per capita than any state of America to join the US Army, but are not allowed to vote for the country they are prepared to die for.

    “Ask the mighty 28th Maori Battalion, who field Marshal Erwin Rommel famously said, ‘Give me the Māori Battalion and I will rule the world’, they bled and died for a country that denied them the very rights promised under the Treaty.

    “The Treaty of Waitangi Bill is essentially threatening to do the same thing again, it is re-traumatising Māori and opening old wounds.”

    A vision for the future
     Mila, who also has European and Sāmoan ancestry, said the answer to how to proceed was in the Treaty’s Indigenous text.

    “The answer is Te Tiriti, not separatist exclusion. It’s the fair terms of inclusion, an ancestral strategy for harmony, a covenant of cooperation. It’s how we live ethically on a land that was never ceded.”

    Flags displayed at Waitangi treaty grounds 2024. Image: PMN News/Atutahi Potaka-Dewes

    Aotearoa Tongan Response Group chair Anahila Kanongata’a said Tongans were Tangata Tiriti (people of the Treaty), and the bill denigrated the rights of Māori as Tangata Whenua (people of the land).

    “How many times has the Crown breached the Treaty? Too, too many times.

    “What this bill is attempting to do is retrospectively annul those breaches by extinguishing Māori sovereignty or tino rangatiritanga over their own affairs, as promised to them in their Tiriti, the Te Reo Māori text.”

    Kanongata’a called on the Crown to rescind the Principles of the Treaty of Waitangi Bill, honour Te Tiriti, and issue a formal apology to Māori, similar to what had been done for the Dawn Raids.

    Hundreds gather at Treaty Grounds for the annual Waitangi Day dawn service. Image: PMN Digital/Joseph Safiti

    “As a former member of Parliament, I am proud of the fact that an apology was made for the way our people were treated during the Dawn Raids.

    “We were directly affected, yes, it was painful and most of our loved ones never got to see or hear the apology, but imagine the pain Māori must feel to be essentially dispossessed, disempowered and effectively disowned of their sovereignty on their own lands.”

    The bill’s architect, Act Party leader David Seymour, sayid the nationwide discussion on Treaty principles was crucial for future generations.

    “In a democracy, the citizens are always ready to decide the future. That’s how it works.”

    Republished from PMN News with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Europe: OSCE helps Kyrgyz law enforcement develop strategic approaches to training on cybercrime and electronic evidence

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: OSCE helps Kyrgyz law enforcement develop strategic approaches to training on cybercrime and electronic evidence

    Workshop participants discuss in groups a competencies matrix on investigating cybercrimes and handling electronic evidence for different criminal justice roles in Kyrgyzstan, Bishkek, 27 February 2025. (OSCE/Juraj Nosal) Photo details

    The OSCE Transnational Threats Department held a national workshop for 15 senior representatives of Kyrgyz law enforcement agencies in Bishkek on 27 and 28 February. The event aimed at building the agencies’ capacities to provide systematic and sustainable professional training and development on investigating cybercrimes and other crimes involving electronic evidence.
    “The complex nature of digital technologies and electronic evidence makes it impossible for all law enforcement practitioners to be experts in this field. For professional training and development to be effective, it is thus essential to first define what types of competencies are necessary for each law enforcement role. Training and educational programmes then need to be adjusted to these requirements,” said Konstantin Bedarev, Head of the Politico-Military Department of the OSCE Programme Office in Bishkek, during his opening remarks. 
    The participants from the Ministry of Internal Affairs, Office of the Prosecutor General, State Committee for National Security and their respective educational institutions discussed the development of two strategic documents in this regard: a competency framework and a training strategy. The competency framework defines skill sets and skill levels for different law enforcement roles involved in the investigation and prosecution of cybercrimes and other crimes involving electronic evidence. The training strategy then outlines a plan for the development and provision of professional training to build the necessary competencies amongst law enforcement practitioners.
    “Today, nearly all crimes include some sort of electronic evidence. Developing adequate skills and competencies in this area among law enforcement and judiciary actors is necessary for effective and efficient criminal investigations and prosecutions in every country,” emphasized Ion Gaina, a digital forensic expert from Moldova and keynote speaker at the event.
    The workshop followed the regional event on this topic held in Tashkent, Uzbekistan on 5-6 December 2024 and was implemented under the second phase of the OSCE’s regional capacity-building project on combating cybercrime in Central Asia, launched in September 2024 and funded by Germany and the United States of America.

    MIL OSI Europe News –

  • MIL-OSI Economics: Sectoral Deployment of Bank Credit – January 2025

    Source: Reserve Bank of India

    Data on sectoral deployment of bank credit for the month of January 20251 collected from 41 select scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks, are set out in Statements I and II.

    On a year-on-year (y-o-y) basis, non-food bank credit2 as on the fortnight ended January 24, 20253 grew at 12.5 per cent (a three-month high) as compared to 16.2 per cent for the corresponding fortnight of the previous year (January 26, 2024).

    Highlights of the sectoral deployment of bank credit3 are given below:

    • Credit to agriculture and allied activities registered a growth of 12.2 per cent (y-o-y) as on the fortnight ended January 24, 2025 (20.0 per cent for the corresponding fortnight of the previous year).

    • Credit to industry recorded a growth of 8.2 per cent (y-o-y) as on the fortnight ended January 24, 2025, compared with 7.5 per cent for the corresponding fortnight of the previous year. Among major industries, outstanding credit to ‘petroleum, coal products and nuclear fuels’, ‘basic metal and metal product’, ‘chemicals and chemical products’ and ‘all engineering’ recorded an accelerated growth.

    • Credit growth to services sector moderated to 13.8 per cent (y-o-y) as on the fortnight ended January 24, 2025 (21.0 per cent for the corresponding fortnight of the previous year), with a decelerated growth in credit to ‘non-banking financial companies’ (NBFCs) and trade segments. However, credit growth (y-o-y) to ‘computer software’ accelerated.

    • Credit to personal loans segment registered a growth of 14.2 per cent (y-o-y) as on the fortnight ended January 24, 2025, as compared with 18.2 per cent a year ago, largely due to decline in growth rate in ‘other personal loans’, ‘vehicle loans’ and ‘credit card outstanding’ segments.

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2276

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Mortgage loans down 2.1%

    Source: Hong Kong Information Services

    The value of residential mortgage loans approved in January was $25 billion, a 2.1% decrease compared with December 2024, the Monetary Authority announced today.

    Mortgage loans financing primary market transactions increased 15.5% to $10 billion, while those financing secondary market transactions decreased 11.7% to $12.2 billion.

    Loans for refinancing decreased 8.8% to $2.9 billion.

    Mortgage loans drawn down during January amounted to $15.6 billion, a 17.6% rise from December 2024.

    The number of mortgage applications in January rose 3.3% month-on-month to 6,516.

    The outstanding value of mortgage loans increased 0.1% to $1.872 trillion at end-January.

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: African Development Bank, Pandemic Fund sign agreement to leverage resources for pandemic preparedness

    Source: Africa Press Organisation – English (2) – Report:

    ABIDJAN, Ivory Coast, February 28, 2025/APO Group/ —

    The African Development Bank (www.AfDB.org) Group has signed an agreement to become an implementing entity of the Pandemic Fund (https://apo-opa.co/4h0TQu3). This enables the Bank to coordinate financing of the Fund’s approved projects in Africa, as well as to participate in a call for proposals for financing investments scheduled to launch next month.

    The financial procedures agreement, signed in January with the World Bank Group (the International Bank for Reconstruction and Development acted as a trustee for the Pandemic Fund), qualifies the African Development Bank to participate in a share of $500 million in Fund Secretariat financing for proposals for pandemic-related programs, projects and policies, with a focus on low and middle-income countries.

    The Pandemic Fund is a partnership among donor countries, co-investors, foundations and civil society organizations hosted by the World Bank. The World Health Organization acts as the technical lead. The Fund assists countries and regions to strengthen their health systems and increase their investments, enabling them to boost pandemic prevention, preparedness and response capacities. 

    “There is growing demand from African countries for support to overcome gaps in national health infrastructure exposed by the Covid-19 pandemic and other health crises. As a Pandemic Fund implementing entity, the African Development Bank is capitalizing on our experience combining infrastructure financing with complementary support to improve the quality of life for the people of Africa,” said Dr. Beth Dunford, Bank Vice President for Agriculture, Human and Social Development.

    The Fund’s call for proposals will be in phases: the first phase will be open to single and multi-country proposals in March 2025; the second phase launches in June 2025 for regional proposals. 

    To date, the Pandemic Fund has financed two calls for proposals and approved 47 projects impacting 75 countries in six regions across the globe. On average, 43 percent of its resources have been allocated for countries in sub-Saharan Africa, the region with the highest demand for Pandemic Fund grants. Under the second call for proposals, more than half of the funds awarded went to sub-Saharan Africa.

    As an implementing entity, the African Development Bank will also play an oversight role, providing implementation support to beneficiary implementing organisations, as well as providing financial and progress reports to the Fund’s Governing Board.

    The Bank’s collaboration with the Pandemic Fund aligns with its Strategy for Quality Health Infrastructure in Africa that seeks to enhance healthcare infrastructure and improve health outcomes in Africa.

    In June 2023, the Bank approved approximately $124 million in financing for healthcare access expansion in Morocco. The country’s “Program to Support Inclusive Access to Healthcare Infrastructure” inboosts the country’s specialized healthcare services in women and children’s centers, supports building and equipping hospitals, and equips remote sites with telemedicine and teleconsultation facilities.

    Dunford says continued collaborating with the Pandemic Fund can help more Africans experience the benefits of strengthened healthcare systems.

    “As Africa’s premier financial institution, we are ready to provide relevant support to beneficiary implementing organisations, the Bank’s regional member countries, and regional economic communities in the Pandemic Fund’s third call for proposals. The Bank will leverage resources from the Fund, alongside our funding instruments, for bigger and better results,” she added.

    The Pandemic Fund was established in September 2022 with the Bank participating as an observer and formally announced two months later at the Group of 20 (G20) meetings in Bali, Indonesia.

    MIL OSI Africa –

  • MIL-OSI New Zealand: Advocacy – Defending Cultural Expression and Palestinian Identity

    Source: Palestine Forum of New Zealand

    The keffiyeh, a widely recognized symbol of Palestinian heritage, has once again been misrepresented as controversial. As an integral part of Palestinian cultural identity, recently recognized by UNESCO, the keffiyeh represents resilience, history, and a deep connection to the land. Attempts to frame it as divisive are part of a broader effort to silence and erase Palestinian identity from public life.

    New Zealand prides itself on diversity and inclusivity, values that must extend to all communities. Palestinian cultural expression should be treated with the same respect as any other, without fear or scrutiny. The keffiyeh is not a political threat – it is a symbol of history, survival, and belonging.

    We call on media outlets, public institutions, and community leaders to reject narratives that delegitimize Palestinian identity and instead foster an environment where all cultures are celebrated and respected.

    Maher Nazzal
    Palestine Forum of New Zealand

    MIL OSI New Zealand News –

  • MIL-OSI: MWC 2025: Innovations to increase engagement and efficiency in telecom business

    Source: GlobeNewswire (MIL-OSI)

    MWC 2025: Innovations to increase engagement and efficiency in telecom business

    In the highly competitive telecom and service provider markets worldwide, companies face equally complex challenges: attracting new customers, retaining existing ones, and increasing their engagement. Innovative solutions such as gamification and reward systems, are becoming powerful tools to achieve these goals, allowing companies not only to maintain customer interest but also to significantly improve their loyalty. In this context, at MWC 2025 in Barcelona, QazCode will present its solutions designed to help overcome these challenges across different markets.

    Gamification as an easy way to increase loyalty

    The global gamification market is growing rapidly, from $9.1 billion in 2020 to a projected $30.7 billion in 2025. Already, 70% of global Global 2000 companies are using game elements to engage customers. In addition, data shows that products with thoughtful interaction design retain customers three times better than those using basic gamification.

    Gamification can increase user engagement by 25% or more and build the habit of using services regularly, which also helps to reduce customer churn and increase customer loyalty. As a result, companies can increase profitability and improve their position in competitive markets.

    Real case study: how gamification helps businesses grow

    On the image: Gamification and reward systems for users

    QazCode, one of the leaders in developing solutions for the telecom and IT sectors, has demonstrated successful examples of gamification implementation in CIS countries. For example, in Kazakhstan, the introduction of gamification in the “Janymda” superapp (formerly “My Beeline”) made games the second most popular domain after telecom services, and every fifth user became an active gamer. Gamification not only helps attract and retain users but also positively influences their perception of the brand, driving both direct and indirect revenue growth. It is important to note that user retention among those who actively engage with games and rewards is 25% higher than among those who do not use these features.

    To make the games engaging and profitable, QazCode established its own game development team, which created its own gaming platform, portfolio, and services. However, in other markets such as Ukraine and Kyrgyzstan, companies had to tailor their offerings, including games, to better suit local cultural differences, user behaviour, and market trends.

    Another opportunity that gamification offers businesses is the rewards system. The decline in conversion rates of traditional communication channels, alongside the growing product portfolio of service providers, necessitates the search for new, effective methods to raise awareness among the audience about products and services, as well as attract and retain customers.

    By completing various tasks, users can strengthen their emotional connection with the brand, earning bonuses or achievements. For example, in the case of the “Janymda” superapp in Kazakhstan, the rewards system helped organically boost user engagement and increased revenue per user by 7%, directly impacting the company’s financial performance and customer satisfaction.

    “Our experience working with various regions of the CIS has given us a clear understanding of how important it is to consider the cultural and economic characteristics of users when implementing gamification and reward systems. We are confident that our solutions can be adapted to meet the needs and requirements of other markets. For example, more complex user interaction systems may be in demand in Western markets, while in the Middle East, the focus may be on specific values and habits. We are ready to offer flexible solutions that can meet the needs of clients in any market,” commented Alexey Sharavar, CEO of QazCode”, –  commented Oleksii Sharavar, CEO at QazCode.

    The company has successful experience working in Central Asia, Europe, and the Middle East, and continues to actively expand its presence in international markets. Participation in MWC 2025 in Barcelona (stand 6F12) will provide a unique opportunity for knowledge exchange and discussions on advanced technologies in the field of gamification and reward systems.

    About QazCode
    QazCode is an IT company and exclusive digital partner of Beeline Kazakhstan. The company is part of the VEON group listed on the NASDAQ and Euronext stock exchanges.
    The company has over 750 employees with 8 years of experience in software development for the telecom and IT markets with a deep understanding of business and technology. The solution portfolio includes the development of private Large Language Models (LLM) with a focus on data security, game development, and reward systems, process optimization through Agile methodologies, full-cycle implementation of Business Support Systems (BSS), and IT outsourcing for effective product development, team expansion, and project management to help accelerate time to market. 

    About VEON 
    VEON is a digital operator providing converged communications and digital services to nearly 160 million customers. Operating in six countries with over 7% of the world’s population – Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan – VEON transforms people’s lives through technology services that empower people and drive economic growth. VEON is headquartered in Dubai.

    The MIL Network –

  • MIL-OSI: BTCC Exchange Unveils $1 Million “Trade to Win” Campaign Featuring Tesla Cybertruck for TOKEN2049 Dubai

    Source: GlobeNewswire (MIL-OSI)

    VILNIUS, Lithuania, Feb. 28, 2025 (GLOBE NEWSWIRE) — BTCC, a global leader in crypto trading, is proud to announce its participation as a gold sponsor at TOKEN2049 Dubai, the premier crypto industry event from April 30 to May 1, 2025. To celebrate, BTCC is launching a Trade to Win campaign with a $1 million prize pool, including the flagship prize of a Tesla Cybertruck. Users are invited to participate for exciting rewards and a chance to meet the team at the TOKEN2049 venue.

    TOKEN2049 is set to attract over 15,000 attendees from 4,000 companies worldwide in 2025. This two-day event at Madinat Jumeirah will feature insightful conferences led by industry leaders and influential voices, while also offering a unique experience with activities such as massages, shisha lounges, and live music.

    Participants can visit BTCC at booth no. P51, where its team and influencers will engage with attendees, share insights, and showcase their latest product offerings. Attendees will also have the opportunity to meet their official mascot, Nakamon, inspired by the legendary Satoshi Nakamoto, presented in a vibrant Arabian theme.

    BTCC will host two exclusive events for crypto influencers. The Dubai Safari Day Tour on April 29 will feature dune bashing, sandboarding, and camel rides. Following that, the KOL Yacht Party on May 2 will offer live DJ music and gourmet Japanese cuisine by chef Nishimura Yukou aboard a luxurious yacht with stunning views of the Dubai skyline.

    Regular users are encouraged to participate in the Trade to Win campaign, where they can trade over 300 future pairs to win incredible prizes from the $1 million prize pool, including a Tesla Cybertruck, a Ducati motorcycle, and a luxurious seven-star hotel stay in Dubai. Top performers will also have the opportunity to attend TOKEN2049 and meet the BTCC team in person.

    BTCC has actively participated in global events, including Paris Blockchain Week in 2024, to strengthen connections within the crypto community. “TOKEN2049 is more than just an event; it’s a platform for meaningful dialogue and collaboration,” said Aaryn Ling, Head of Branding at BTCC. “Our goal is to engage with the community and KOLs, fostering insightful discussions that drive our exchange forward,” Aaryn added.

    For more information about the Trade to Win campaign, please visit BTCC’s website.

    About BTCC Exchange

    BTCC is a leading cryptocurrency exchange offering a secure and user-friendly platform for traders globally. Since its launch in 2011, the exchange has maintained a flawless security record with zero incidents. A standout feature of the platform is copy trading which enables users to easily follow the strategies of top traders and replicate their success.

    Official website: https://www.btcc.com/en-US

    X: https://x.com/BTCCexchange

    Contact: press@btcc.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/567092fe-dbec-4e7c-8da5-f6d045e6becb

    The MIL Network –

  • MIL-OSI China: Over 300 firms sign up for China’s supply chain expo

    Source: People’s Republic of China – State Council News

    BEIJING, Feb. 28 — More than 300 domestic and foreign companies have signed up for the third China International Supply Chain Expo, China’s trade promotion body announced on Friday.

    The expo kicked off its global roadshows in January and has so far hosted promotional events and roadshows in 12 countries and regions, including Vietnam, Switzerland, South Africa and the United Arab Emirates, Yang Fan, spokesperson with the China Council for the Promotion of International Trade (CCPIT), told a press conference.

    Foreign enterprises and institutions have demonstrated great enthusiasm for participating in and visiting the expo, Yang said, anticipating an increase in attendance this year, particularly from overseas groups and businesses, for on-site visits and exchanges.

    The expo recorded more than 200,000 visits last year, CCPIT data showed.

    This year’s expo, slated to be held in Beijing from July 16 to 20, will cover a total exhibition area of 120,000 square meters.

    As the world’s first national-level exhibition focusing on supply chains, the China International Supply Chain Expo is an internationally shared public product. First held in 2023, the expo has contributed to building more secure, stable, open and inclusive global industrial and supply chains, according to the CCPIT.

    MIL OSI China News –

  • MIL-OSI Economics: Swap Auction, February 28, 2025: Results

    Source: Reserve Bank of India

    Today, the Reserve Bank conducted a USD/INR Buy Sell swap auction for a notified amount of USD 10 billion as announced vide press release dated February 21, 2025.

    I. SUMMARY RESULTS

    Aggregate amount notified (USD Billion) 10.00
    Total amount bid by participants (USD Billion) 16.23
    Total amount accepted (USD Billion) 10.06
    Cut-off premium (in paisa) 655.10

    II. OTHER DETAILS

    USD/INR Buy Sell Swap auction
    No. of bids received 244
    Bid to cover ratio 1.62
    No. of bids accepted 161
    Partial allotment as % of competitive bids at cut-off premium NA
    Weighted Average Premium of accepted bids (in paisa) 673.29
    First leg settlement date March 04, 2025
    Second leg settlement date March 06, 2028

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2274

    MIL OSI Economics –

  • MIL-OSI Economics: Asian Development Blog: Hold the Salt: Harnessing Desalination for Water Security

    Source: Asia Development Bank

    Desalination offers a viable solution to water scarcity in the Pacific, but its success depends on careful planning, energy efficiency, and environmental considerations. Integrating renewable energy, engaging communities, and ensuring sustainable brine disposal are key to long-term viability.

    The Pacific region is grappling with increasing water scarcity, driven largely by the impacts of climate change. Rising sea levels, prolonged droughts, and changing rainfall patterns have strained freshwater resources, leaving many coastal communities vulnerable.

    As traditional water supplies become less reliable and populations continue to grow, the need for innovative and climate-resilient solutions has never been more urgent. However, implementing alternative technologies like desalination requires careful consideration to ensure its effectiveness, sustainability, and community acceptance.

    Desalination involves the removal of salts and impurities from brackish water and seawater sources to produce potable water. However, removing salt from water is an energy intensive treatment process. The most widely used desalination method is reverse osmosis, as it has the lowest energy usage of the available and mature desalination technologies.

    Reverse osmosis uses semi-permeable membranes and hydraulic pressure to filter out contaminants including salt. While this technology offers significant advantages in providing a reliable water source, it also presents challenges, especially in remote areas and emergency contexts where resources and infrastructure may be limited.

    Before deploying desalination technology, it is crucial to assess the specific site conditions, including the quality of the salty water available for treatment. The salinity level, temperature, and presence of contaminants such as sediments or organic materials can significantly impact the performance of the desalination system.

    In emergency contexts, the water intake may be compromised due to increased sediment loads or bacterial contamination from natural disasters. A robust pre-treatment process is essential to protect reverse osmosis membranes and maintain operational efficiency.

    Pre-treatment systems should be designed to remove larger particles, suspended solids, and biological contaminants, ensuring that only water suitable for the membrane elements enters the desalination unit.

    Energy consumption is also a critical factor when considering desalination technologies. Reverse osmosis systems can be energy-intensive, requiring between three and five kilowatt-hours per 1,000 litres of water produced.

    In remote settings, reliable energy sources may be challenging to secure. It is essential to evaluate available energy options before implementation. Integrating renewable energy sources, such as solar panels or wind turbines, can help mitigate energy costs and reduce the carbon footprint of desalination systems, particularly in remote settings.

    Portable desalination units are largely powered by generators during emergencies, but careful planning for fuel supply and maintenance is necessary to ensure continuous operation.

    Desalination technology has the potential to play a pivotal role in addressing water scarcity challenges faced by remote and coastal communities, especially during emergencies.

    Effective operation and maintenance are vital for the long-term success of desalination projects. In remote and emergency settings, local capacity may be limited, making it crucial to establish training programs for technicians. Investing in local training not only builds community skills but also fosters ownership and sustainability in water management.  

    A comprehensive maintenance plan should include routine checks of the desalination unit, regular cleaning of pre-treatment filters, and periodic replacement of reverse osmosis membranes.

    Ensuring that local operators are equipped with the knowledge and tools needed for maintenance will enhance the reliability and efficiency of desalination systems. This is especially important for emergency units that may be intermittently used and stored for long periods between use.  

    The environmental implications of desalination must be carefully considered, particularly concerning brine disposal. The concentrated saline byproduct generated during the desalination process can have negative effects on marine ecosystems if not managed properly.

    To mitigate these impacts, brine should be dispersed across a wide area rather than discharged in a single location. Additionally, a lower salinity, higher volume brine can be produced by operating the reverse osmosis unit at a low recovery rate.

    This practice helps prevent localized salinity increases that can harm marine life. Engaging with environmental experts and local authorities to develop responsible brine management strategies is essential for sustainable desalination practices.

    Community involvement is paramount when implementing desalination technology. Engaging local populations in discussions about the technology, its benefits, and potential challenges fosters a sense of ownership and acceptance.

    Providing education on water management and desalination processes will help demystify the technology and encourage responsible use of water resources. Building trust within the community is crucial for the success of desalination projects.

    Collaboration with local stakeholders, including government agencies and non-governmental organizations, can help address concerns and ensure that the technology aligns with community needs.

    The initial investment for desalination technology can be significant, and ongoing operational costs must be evaluated to ensure long-term sustainability. It is essential to conduct a cost-benefit analysis that considers factors such as energy consumption, maintenance requirements, and the expected lifespan of the equipment.

    Exploring funding opportunities from government programs, international organizations, and public-private partnerships can help offset the financial burden. Engaging with development partners can also provide technical assistance and capacity-building support to ensure the successful implementation of desalination systems.

    Desalination technology has the potential to play a pivotal role in addressing water scarcity challenges faced by remote and coastal communities, especially during emergencies.

    However, careful consideration of site conditions, energy requirements, operational needs, environmental impacts, community engagement, and funding opportunities are essential for effective implementation.

    As we move toward a future that is increasingly affected by climate change, harnessing the power of desalination with thoughtful planning and community involvement will be critical in building water resilience across the Pacific. By investing in these technologies and empowering local communities, we can create sustainable solutions that secure safe drinking water for generations to come.
     

    MIL OSI Economics –