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Category: Economy

  • MIL-OSI Asia-Pac: CURTAIN RAISER : CELEBRATION OF ‘YEAR OF NAVAL CIVILIANS – 2024’

    Source: Government of India (2)

    Posted On: 22 DEC 2024 4:05PM by PIB Delhi

    To honour and recognise the invaluable contributions of Naval Civilians in the operational preparedness of the Indian Navy, a grand Commemoration Ceremony is scheduled to be held on 30 December 2024 at Dr. DS Kothari Auditorium, DRDO Bhawan, New Delhi. Hon’ble Raksha Mantri will grace the occasion as the Chief Guest.

    Indian Navy declared 2024 as the ‘Year of Naval Civilians’ (https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2001395) to enhance the efficiency in administration and well-being of its Civilian Personnel. This dedicated year witnessed a series of focused measures aimed at improving Civilian HR Management and addressing various facets of professional and personal growth of Civilian personnel in a time-bound manner. Throughout the year, several initiatives were implemented to maximise administrative efficiency, embrace digital transformation, introduce innovative training programs and promote welfare activities.

    The major milestones achieved in the ‘Year of Naval Civilians’ include promulgation of key policies and documents such as Citizen’s Charter for the Directorate of Civilian Personnel, revised HR Handbook on Civilian Personnel Management and Vision Document for Naval Civilian HR Management. Various measures were undertaken for enhancing welfare and safety including provision of insurance cover for Civilian Personnel working onboard ships at anchorage/ sea and extension of CGHS facilities to 21 industrial units in Mumbai.

    Digital and Administrative Modernisation was also a priority area and major initiatives in this include revamping of the Naval Civilian Management Information System (NCMIS) website including a Chatbot and online modules for NOCs and DV clearances. e-HRMS Version 2.0 has also been rolled out for Gazetted Officers of the Navy.

    Training and Development was emphasised for Civilian Personnel by conducting specialised workshops and training programs. Training modules for Naval Civilians on the iGOT platform have been introduced. Towards strengthening financial benefits; MoU with Bajaj Life Insurance has been signed for life insurance of Civilian Personnel and Defence Salary Package has been extended for all Naval Civilians.

    The ‘Year of Naval Civilians’ underscores the Indian Navy’s commitment to recognising the vital role of its Civilian Personnel in ensuring the Nation’s maritime security and operational excellence. This initiative serves as a testament to fostering a robust and inclusive environment for all stakeholders.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Chaudhary Charan Singh Exemplified Transparency, Accountability, Integrity, And Fearless Statesmanship, Says Vice-President.

    Source: Government of India

    The Vice-President of India, Shri Jagdeep Dhankhar today conferred the Chaudhary Charan Singh Awards 2024, honouring outstanding achievements in agriculture, rural development, and journalism. Speaking at the event, Shri Dhankhar lauded the extraordinary legacy of Chaudhary Charan Singh, emphasizing his relentless dedication to rural development, farmers’ welfare, and inclusive growth.

    “Chaudhary Charan Singh was one of the finest persons in the country. A person who encapsulates transparency, accountability, integrity, commitment to rural development, commitment to farmer, and was all throughout fearless in expression of his views,” stated the Vice-President.

    Reflecting on his leadership, Shri Dhankhar said, “Chaudhary Charan Singh is defined by sublimity, statesmanship, farsightedness, and growth that is inclusive. No wonder he became the first Chief Minister of the largest state of the Republic of India, and then Prime Minister.”

    Expressing concern over the lack of recognition of his contributions, he remarked, “It pains the heart when people are short-sighted in assessing the great contributions of this man. His astounding qualities, his deep dedication, and his knowledge of rural India are subjects of reflection for enlightened individuals worldwide. A son of the soil, he was mindful not just of rural India but urban India as well, with a vision aligned with our civilisational ethos.”

    Addressing the awardees of the Chaudhary Charan Singh Awards 2024 in New Delhi today, the Vice-President said, “Agriculture is the spine of rural development. Unless agriculture develops, the rural landscape cannot be changed. And unless the rural landscape changes, we cannot aspire to have a developed nation.”

    Discussing India’s economic trajectory, he added, “Undoubtedly, at the moment, India is on the rise as never before. Indisputably, our economy is blossoming. We are the fifth largest globally and on track to becoming the third largest, ahead of Japan and Germany. But to be a developed nation by 2047, our income must increase eightfold—a daunting challenge.”

    Addressing this challenge, Shri Dhankhar stressed the need for strengthening the village economy: “Village economy can look up only when the farmer and their family are involved in marketing, value addition, and generating clusters all around, leading to self-sufficiency. The greatest market we have is agricultural produce, yet farming communities are hardly involved with it. The farming sector must be prioritized by governments for it to become an engine of economic development.”

    The Vice-President also underscored the essence of democracy: “Expression and dialogue define democracy. How democratic a nation is defined by the state of expression of its individuals and organizations. For any democracy to succeed, expression and dialogue must go hand in hand with great responsibility on both sides.”

    Calling for accountability among parliamentarians, he said, “It is time for every thinking Indian to scratch his brains and to generate a deep sense of accountability with all those who are enjoined with obligations. Make no mistake, I am referring to parliamentarians. People have learned to take disorder as order. There is no sense of revulsion. मैंउम्मीदकरताहूंलोगोंकीकलमचलेगी, लोगोंकेविचारचलेंगे, लोगमजबूरकरेंगेकिआपसोचिएआपक्योंगएथेवहां? I leave it with this thought.”

    Reflecting on the Chaudhary Charan Singh Awards, the Vice-President emphasized their sustainability: “These awards, over a period of time, must be structured for posterity to be self-sustaining. Fiscal strength is fundamental for flexibility of functioning. Anyone who has at heart the welfare of rural India, the welfare of the farmer—be it from the corporate sector, intelligentsia, or other walks of life—must come forward to nurture a trust like this, as we will not have for a long time to come another Chaudhary Charan Singh.”

    The Chaudhary Charan Singh Awards 2024 celebrated remarkable contributions to agriculture, rural development, and journalism. The Kalam Ratna Award was presented to Ms. Neerja Chowdhury for her dedication to insightful journalism. The Sewa Ratna Award was conferred upon Dr. Rajendra Singh, the “Waterman of India,” for his pioneering efforts in water conservation. The Krishak Utthan Award went to Dr. Firoz Hossain for advancing agricultural research and innovation. Lastly, the Kisan Award was bestowed upon Mr. Pritam Singh for his contributions to agricultural excellence.

    Shri Jayant Chaudhary, Union Minister of State (Independent Charge) for Skill Development and Entrepreneurship and other dignitaries were also present on the occasion.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: English rendering of PM’s address at the Indian Community Event ‘Hala Modi’ in Kuwait

    Source: Government of India (2)

    Posted On: 21 DEC 2024 9:22PM by PIB Delhi

    Bharat Mata ki—Jai!

    Bharat Mata ki—Jai!

    Bharat Mata ki—Jai!

    Namaskar!

    I arrived in Kuwait just two or two and a half hours ago. And ever since I set foot here, I have felt a unique sense of belonging and warmth all around. You all have come from different states of Bharat, but looking at all of you, it feels as if a mini Hindustan has come alive before me. Here, I see people from North, South, East, and West, speaking different languages and dialects. Yet, there is one common echo in everyone’s hearts, one resounding chant in everyone’s hearts – Bharat Mata ki Jai, Bharat Mata ki—Jai.

    Here, there is a festive atmosphere of culture. Right now, you are preparing for Christmas and New Year. Soon, Pongal will arrive. Whether it’s Makar Sankranti, Lohri, Bihu, or many such festivals, they are not far away. I extend my heartfelt wishes to all of you for Christmas, New Year, and all the festivals celebrated in every corner of the country.

    Friends,

    Today, this moment is very special for me personally. After 43 years—more than four decades—a Prime Minister of Bharat has come to Kuwait. It takes just four hours for you to travel from Bharat to Kuwait, but it took a Prime Minister four decades to make this journey. Many of you have been living in Kuwait for generations. Some of you were even born here. And every year, hundreds of Indians join your community.  You have added a touch of Indian flavour to Kuwaiti society, painted the canvas of Kuwait with the colours of Indian skills, and blended Bharat’s talent, technology, and tradition into the fabric of Kuwait.  That is why I am here today—not just to meet you, but to celebrate your achievements.

    Friends,

    A little while ago, I met Indian workers and professionals working here. These friends are involved in construction work and are contributing their hard work in many other sectors as well. Members of the Indian community, as doctors, nurses, and paramedics, are a significant strength of Kuwait’s medical infrastructure.  Those among you who are teachers are contributing to strengthening Kuwait’s next generation. Those of you who are engineers and architects are building the next generation of infrastructure in Kuwait.

    And friends,

    Whenever I speak with the leadership of Kuwait, they always praise you all immensely. The citizens of Kuwait also hold great respect for you because of your hard work, honesty, and skills.  Today, Bharat is the world leader in remittances, and a significant share of the credit for this achievement goes to all of you hardworking friends. Your contribution is deeply respected by your fellow countrymen back home.

    Friends,

    The relationship between Bharat and Kuwait is one of civilizations, of the sea, of affection, and of trade. Bharat and Kuwait are situated on opposite shores of the Arabian Sea. It is not just diplomacy that binds us, but also the connection of hearts. Our present ties are as strong as our shared history.  There was a time when pearls, dates, and magnificent breeds of horses from Kuwait were sent to Bharat, while many goods from Bharat made their way here. Indian rice, tea, spices, fabrics, and wood were regularly brought to Kuwait. The teakwood from Bharat was used to build ships on which Kuwaiti sailors undertook long voyages.  The pearls of Kuwait have been as precious as diamonds to Bharat. Today, Indian jewellery is renowned worldwide, and Kuwaiti pearls have contributed to that legacy.  In Gujarat, we often hear stories from our elders about how, in past centuries, there was constant travel and trade between Kuwait and Bharat. Particularly in the 19th century, Kuwaiti traders started coming to Surat. At that time, Surat was an international market for Kuwaiti pearls. Ports like Surat, Porbandar, and Veraval in Gujarat stand as witnesses to these historic connections.

    Kuwaiti traders have even published numerous books in the Gujarati language. After Gujarat, Kuwaiti traders established a distinct presence in Mumbai and other markets as well. One notable example is the renowned Kuwaiti merchant Abdul Latif Al Abdul Razzak, whose book ‘How to Calculate Pearl Weight’ was published in Mumbai. Many Kuwaiti traders opened offices in Mumbai, Kolkata, Porbandar, Veraval, and Goa for their export and import businesses. Even today, many Kuwaiti families reside in Mumbai’s Mohammad Ali Street.  It might surprise many to learn that 60-65 years ago, the Indian rupee was used in Kuwait just as it was in Bharat. Back then, if someone purchased something from a shop in Kuwait, Indian rupees were accepted as currency. Terms like “Rupiya,” “Paisa,” and “Aana,” which were part of Indian currency vocabulary, were very familiar to the people of Kuwait.

    Friends,

    Bharat was one of the first countries in the world to recognize Kuwait after its independence. That is why visiting a country and society with which we share so many memories and such deep connections in both our past and present is truly memorable for me.  I am deeply grateful to the people of Kuwait and its government. I would like to especially thank His Highness The Amir for his kind invitation.

    Friends,

    The bond forged through culture and commerce in the past is now reaching new heights in this new century. Today, Kuwait is a very significant energy and trade partner for Bharat, and Bharat is also a major investment destination for Kuwaiti companies. I vividly recall a saying mentioned by His Highness, The Crown Prince of Kuwait, during our meeting in New York. He said, “When you are in need, India is your destination.” The citizens of Bharat and Kuwait have always stood by each other during difficult times and crises. During the Corona pandemic, both countries supported each other at every level. When Bharat needed help the most, Kuwait supplied liquid oxygen to us. His Highness, The Crown Prince, personally stepped forward to inspire everyone to work swiftly.  I am satisfied that Bharat, too, extended its support by sending vaccines and medical teams to help Kuwait fight the crisis. Bharat kept its ports open to ensure there were no shortages of essential food supplies for Kuwait and its surrounding regions.  In June of this year, a heart-breaking incident occurred here in Kuwait—the fire tragedy in Mangaf—which claimed the lives of many Indians. When I heard this news, I was deeply concerned. However, the way the Kuwaiti government extended its support during that time was like that of a true brother. I salute Kuwait’s spirit and compassion.

    Friends,

    This tradition of standing by each other in both happiness and sorrow forms the foundation of our mutual relationship and trust. In the coming decades, we will become even greater partners in prosperity. Our goals are not very different. The people of Kuwait are working towards building New Kuwait, and the people of Bharat are also dedicated to making the country a developed nation by 2047.  Kuwait aims to become a dynamic economy through trade and innovation, and Bharat, too, is focusing on innovation and continuously strengthening its economy. These two goals complement each other.  The innovation, skills, technology, and manpower required for the creation of New Kuwait are all available in Bharat. Bharat’s start-ups, ranging from fintech to healthcare, smart cities to green technologies, can provide cutting-edge solutions for every need of Kuwait. Bharat’s skilled youth can also add new strength to Kuwait’s future journey.

    Friends,

    Bharat has the potential to become the world’s skill capital. Bharat will remain the youngest country in the world for many decades to come. In this context, Bharat has the capacity to meet the global demand for skills. To achieve this, Bharat is focusing on skill development and skill upgrading for its youth, in line with global needs.  In recent years, Bharat has signed migration and employment agreements with nearly two dozen countries, including Gulf nations, Japan, Australia, France, Germany, Mauritius, the UK, and Italy. Countries around the world are also opening their doors to Bharat’s skilled manpower.

    Friends,

    Many agreements are being made with different countries to ensure the welfare and facilities of Indians working abroad. You may be familiar with the e-Migrate portal. Foreign companies and registered agents have been brought onto a single platform through this portal. This makes it easy to identify where there is a demand for manpower, what type of manpower is needed, and which company requires it.  Thanks to this portal, millions of workers have come to Gulf countries in the past 4-5 years. Every such initiative has a single goal—to ensure that the talent from Bharat contributes to the world’s progress and that those who go abroad for work always have the necessary support.  You all in Kuwait will also benefit greatly from Bharat’s efforts in this regard.

    Friends,

    Wherever we live in the world, we respect the country we are in, and we feel immense joy in seeing Bharat reach new heights. You all came from Bharat, lived here, yet you have preserved your Indian identity in your hearts. Now, tell me, which Indian wouldn’t feel proud of the success of Mangalyaan? Which Indian wouldn’t have been overjoyed by the landing of Chandrayaan on the moon? Am I not right? Today, Bharat is advancing with a new spirit. Bharat is now the world’s fifth-largest economy. It is home to the world’s number one fintech ecosystem. Bharat also boasts the world’s third-largest start-up ecosystem and is the second-largest mobile phone manufacturer in the world.

    Let me share a statistic with you, and I’m sure you will be pleased to hear it. In the past 10 years, the length of optical fiber laid across Bharat is eight times greater than the distance between the Earth and the Moon. Today, Bharat is one of the most digitally connected countries in the world. Every Indian is using digital tools from small towns to villages. Smart digital systems in Bharat are no longer a luxury; they are now a part of the everyday life of the common man. Whether it’s enjoying a cup of tea, buying fruits on the street, or making digital payments, Bharat has embraced digital convenience. Ordering groceries, food, fruits, vegetables, or everyday household items is now done in a matter of moments, and payments are made via mobile phones.  People have DigiLocker for storing documents, DigiYatra for seamless travel at airports, and FASTag to save time at toll booths. Bharat is becoming increasingly digitally smart, and this is just the beginning. The future of Bharat lies in innovations that will set the direction for the entire world. The future Bharat will be the hub of global development, the growth engine of the world. The time is not far when Bharat will become the hub of Green Energy, Pharma, Electronics, Automobiles, Semiconductors, Legal, Insurance, Contracting, and Commercial sectors. You will see the major economic centres of the world establishing themselves in Bharat. Bharat will emerge as a massive hub for Global Capability Centres, Global Technology Centres and Global Engineering Centres.

    Friends,

    We consider the entire world to be one family. Bharat is moving forward as a ‘Vishwa Bandhu’ (global friend), thinking of the world’s welfare. The world, too, is acknowledging this spirit of Bharat. Today, on December 21, 2024, the world is celebrating its first World Meditation Day, dedicated to Bharat’s thousands of years of meditation tradition. Since 2015, the world has been celebrating International Yoga Day on June 21, also dedicated to Bharat’s yoga tradition. In 2023, the world celebrated the International Year of Millets, which was made possible through Bharat’s efforts and proposal. Today, Bharat’s yoga is uniting every region of the world. Bharat’s traditional medicine, our Ayurveda, and our Ayush products are enriching global wellness. Our superfoods, millets, and Shri Anna are becoming a major foundation for nutrition and a healthy lifestyle. From Nalanda to the IITs, Bharat’s knowledge system is strengthening the global knowledge ecosystem. Today, Bharat is also becoming a key link in global connectivity. During the G-20 summit held in Bharat last year, the announcement of the India-Middle East-Europe Corridor was made. This corridor is set to provide a new direction for the future of the world.

    Friends,

    The journey of a ‘Viksit Bharat’ (Developed India) is incomplete without your support and the participation of the Indian diaspora. I invite you all to join the resolve for a ‘Viksit Bharat’. The first month of the new year, January 2025, will be a month of many national celebrations. From January 8 to 10 this year, the Pravasi Bharatiya Divas will be held in Bhubaneswar, with people from all over the world coming together. I invite you all to be a part of this event.  On this journey, you can take blessings from Lord Jagannath in Puri. After that, do visit Prayagraj to take part in the Maha Kumbh Mela, which will be held from January 13 to February 26, lasting for about a month and a half. Make sure to return after watching the Republic Day celebrations on January 26. And yes, bring your Kuwaiti friends to Bharat, show them around, and let them experience Bharat. There was a time when Dilip Kumar Saheb inaugurated the first Indian restaurant here. The real taste of Bharat can only be experienced there. So, make sure to prepare your Kuwaiti friends for this experience.

    Friends,

    I know that all of you are very excited about the Arabian Gulf Cup that is starting today. You are eager to cheer for the Kuwait team. I am grateful to His Highness, The Amir, for inviting me as the Guest of Honour for the opening ceremony. This reflects the immense respect that the royal family, the government of Kuwait, have for all of you and Bharat. I hope that you continue to strengthen the Bharat-Kuwait relationship in this way. With this wish, once again, a heartfelt thank you to all of you!

    Bharat Mata ki—Jai!

    Bharat Mata ki—Jai!

    Bharat Mata ki—Jai!

    Thank you very much. 

    DISCLAIMER: This is the approximate translation of the PM’s speech. Original speech was delivered

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah addresses the North East Bankers Conclave 2024, organized by the North East Development Finance Corporation (NEDFI) in Agartala, Tripura

    Source: Government of India (2)

    Union Home Minister and Minister of Cooperation Shri Amit Shah addresses the North East Bankers Conclave 2024, organized by the North East Development Finance Corporation (NEDFI) in Agartala, Tripura

    Under the leadership of Prime Minister Shri Narendra Modi Ji, Northeast will become the gateway to India’s development & trust and will break all records in infrastructure development in next 25 years

    Modi Ji has empowered the Northeast from the perspectives of emotion, economy, and ecology

    In the next 10 years, the Northeast is expected to experience an average growth rate of 20%

    In 2023-24, our public sector banks earned a profit of 1.5 lakh crore, and their NPA remained below 2.8%

    The Northeast is the best destination for investing in future business

    The greatest potential lies within the Northeast, which is why the region needs to be viewed not through statistics, but through sensitivity

    All bankers should explore 100% potential in every state of the Northeast region and move forward in the direction of building a developed Northeast and a developed India

    Today, our waterways are connected to Chittagong port, opening the way for products from the northeast to be shipped across the world

    India’s banks have successfully provided MUDRA loans, SVANidhi loans, and completed the recovery of 10 lakh crore rupees in bad debts over the past 10 years

    Posted On: 21 DEC 2024 9:08PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Shri Amit Shah addressed the North East Bankers Conclave 2024, organized by the North East Development Finance Corporation (NEDFI) in Agartala, the capital of Tripura. On this occasion, Union Minister of Communications and Development of the North East Region Shri Jyotiraditya M. Scindia, Chief Minister of Tripura Professor (Dr.) Manik Saha, Chief Minister of Arunachal Pradesh Shri Pema Khandu, Union Minister of State for Northeast Development Dr. Sukanta Majumdar, the Union Home Secretary, Shri Govind Mohan and several other dignitaries were present.

    In his address Union Home Minister and Minister of Cooperation said that for India, with a population of 1.4 billion and diverse geographical conditions, it is essential to promote the economy while ensuring the economic development of every region, state, village, and individual. He said until we complete economic development of 140 crore people of the country we cannot become a developed nation. Shri Shah added that the concept of a developed nation isthat every person is capable of looking after his family, every person has basic facilities and every person contribute in the development of the country. He said that such nation can become a developed nation.

    Shri Amit Shah said that equal development is necessary for any country to move forward and our bankers should adopt this basic principle. He said that development of the Northeast is a national responsibility of all of us. Shri Shah requested bankers that they should not see Northeast only from the perspective of business,potential and profit but as a responsibility. He highlighted that under the leadership of Prime Minister Shri Narendra Modi Ji, the Northeast will become the gateway to India’s development and trust in the next 25 years, serving as the gateway to the entire nation’s trust. He expressed confidence that the Northeast will break all records in infrastructure development as well.

    Union Home Minister and Minister of Cooperation appealed to the participants of the Northeast Bankers Conclave to assist in financial inclusion, economic development, and infrastructure development, urging that their approach should be sensitive to these areas. He called for the creation of separate parameters for finance, infrastructure, agriculture, MSMEs, and personal loans in the Northeast. Shri Shah said that the State Bank of India should develop specific guidelines for Northeast finance, considering the current capacity of the region with a positive outlook. He emphasized that there is immense potential in the region, and the Northeast has become the gateway for India’s exports.

    Shri Amit Shah said that a few years ago, the enclaves between Bangladesh and India were exchanged. After independence, some parts of India were inside Bangladesh, and some parts of Bangladesh were within India, which caused significant difficulties in building and maintaining infrastructure. Prime Minister Modi Ji took the initiative, and after 75 years of independence, constitutional amendments were made and talks were held with Bangladesh to exchange the enclaves between the two countries. As a result, today our waterways are connected to Chittagong, and through the Chittagong port, the entire Northeast now has open routes to send products to the world.He said that earlier the transportation cost used to be 12 to 15 percent, making it impossible to export products from the North East to outside the country, but today, whatever is produced in the Northeast, the global market is open through the Chittagong port.

    Union Home Minister said that in the past 10 years, a revolution in connectivity for the economic development of the Northeast has almost been completed. Through ISRO, excellent programs have been developed for the proper and efficient use of local resources, and peace and stability have also been achieved in the Northeast.Prime Minister Shri Narendra Modi ji has empowered the Northeast from the perspectives of emotion, economy, and ecology. In the past 10 years, Narendra Modi ji himself has visited the Northeast 65 times, and central ministers have spent over 700 nights in the Northeast. This reflects that the Northeast is a major focus of the Government of India.

    Shri Amit Shah said that in the past 10 years, many successful insolvency laws have been created in India’s banking sector. The banks in India have managed to complete the recovery of bad debts worth 10 lakh crores through schemes like MUDRA loans, SVANidhi loans, and others. Home Minister mentioned that 10 public sector banks have been merged into larger banks. Previously, public sector banks were operating at a loss, but in 2023-24, these banks made a profit of 1.5 lakh crores, and their NPA has reduced below 2.8%. He added that for future business investments, there is no better destination than the Northeast, as it is expected to experience an average growth rate of 20% over the next 10 years. Shri Shah emphasized that the financial policy should be made more flexible, and a good package should be provided to every sector and industry in the Northeast to move forward.

    Shri Amit Shah said that the biggest benefit of UPI will be for the Northeast. 95% of India’s villages are now equipped with 3G and 4G connectivity, and 80% connectivity has been completed in the Northeast as well. Additionally, numerous infrastructure projects have been carried out in the Northeast, over 20 water-based projects have been completed, and peace has been established. He mentioned that in the coming days, many industries are likely to come to the region. Tata Group’s Rs. 27,000 crore semiconductor project indicates that large industrial groups are looking to explore the potential of the Northeast. Home Minister further stated that the 50,000 MW hydropower potential in the region has not yet been fully explored, and the Brahmaputra River could provide the country with an endless supply of affordable electricity.

    Union Home Minister and Minister of Cooperation said that the greatest potential lies within the Northeast, and the region should be viewed not through statistics, but through sensitivity. Its development should not be seen as a business task, but as a national responsibility.Shri Shah said that all bankers should explore 100% potential in every state of the Northeast region and move forward in the direction of building a developed Northeast and a developed India.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah chaired the 12th meeting of the North Eastern Space Applications Centre (NESAC) Society in Agartala, Tripura today

    Source: Government of India

    Union Home Minister and Minister of Cooperation Shri Amit Shah chaired the 12th meeting of the North Eastern Space Applications Centre (NESAC) Society in Agartala, Tripura today

    Under the leadership of Prime Minister Shri Narendra Modi, India’s space sector has taken a giant leap forward in last 10 years

    NESAC Society should further expand the scope of its work in Northeastern states

    NESAC Society should take 100 students each with science background from all the states of the Northeast on a visit to the ISRO HQ

    20 waterways have been built with the help of NESAC and the Society should explore the possibility of building more waterways

    There is a need for extensive mapping for mineral, oil, and coal reserves in the Northeastern states, which will financially benefit from the royalty received for these minerals

    Demographic data of people along India-Myanmar border, especially in Nagaland, Mizoram and Manipur, should be mapped to help in fencing of the border and stopping infiltration

    Forest area development should be the focus of NESAC Society using space science

    Northeastern states should start new courses related to space technology in engineering colleges

    Posted On: 21 DEC 2024 8:32PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Shri Amit Shah chaired the 12th meeting of the North Eastern Space Applications Centre (NESAC) Society in Agartala, Tripura today. Union Minister for Development of North Eastern Region (DoNER) Shri Jyotiraditya M. Scindia, Chief Minister of Tripura Dr. Manik Saha, Chief Minister of Assam Shri Himanta Biswa Sarma, Chief Minister of Manipur Shri N. Biren Singh, Chief Minister of Arunachal Pradesh Shri Pema Khandu, Chief Minister of Sikkim Shri Prem Singh Tamang, Union Minister of State for Development of North Eastern Region (DoNER) Shri Sukanta Majumdar, Union Home Secretary Shri Govind Mohan, Secretary, D/o Space Dr. S. Somnath and Director, Intelligence Bureau Shri Tapan Deka, senior officials of the Central Government and State Governments of North Eastern Region were present on the occasion.

     

    In his address, Shri Amit Shah said that under the leadership of Prime Minister Shri Narendra Modi, India’s space sector has taken a giant leap forward in last 10 years. He said thatafter 25 years of establishment of NESAC Society, the positive aspects of the work being done by the Society are now visible. He said that the NESAC Society should further expand the scope of its work in these states, and, for this, initiatives should also be taken by the state governments.

    Union Home Minister urged the NESAC Society to take 100 students each with science background from all the states of the Northeast on a visit to the HQ of Indian Space Research Organization (ISRO) so that they can develop interest in space and related technology. He urged the Ministry of Development of North Eastern Region to contribute 60 percent for this project. Shri Shah also urged the state governments of the Northeast to start new courses related to space technology in engineering colleges.

     

    Shri Amit Shah said that so far 20 waterways have been built with the help of NESAC and the Society should explore the possibility of building more waterways. He said that there is a need for extensive mapping for mineral, oil, and coal reserves in the Northeastern states. The Northeastern states will be financially benefitted from the royalty received for these minerals.

    Union Home Minister and Minister of Cooperation said that the demographic data of people along the India-Myanmar border, especially in Nagaland, Mizoram and Manipur, should be mapped so that it can help in fencing of the border and infiltration can be stopped. He said that for this, there is a need to conduct a comprehensive survey in the border areas.

    Shri Amit Shah said that the NESAC Society should focus on forest area development using space science. He said that for this, necessary steps should be taken by comparing old maps with the latest maps and where there are possibilities, efforts should be made to plant trees in collaboration with the state governments. Similarly, the Home Minister also asked the Society to map floods in the North-Eastern states.

    Union Home Minister lauded the efforts of NESAC Society for proper and positive use of space technology in administration and emphasized its extensive use in the development of a difficult geographical area like the North-East in the coming times. Shri Shah also said that the NESAC Society should also focus on developing its revenue model.

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    RK / VV / RR / PS

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    Read this release in: Hindi

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  • MIL-OSI Asia-Pac: Recommendations of the 55th Meeting of the GST Council

    Source: Government of India

    Recommendations of the 55th Meeting of the GST Council

    GST Council recommends reduction in GST rate on Fortified Rice Kernel (FRK), classifiable under 1904, to 5%

    GST council also recommends to fully exempt GST on gene therapy

    GST Council recommends exemption of GST on contributions by general insurance companies from third-party motor vehicle premiums for Motor Vehicle Accident Fund

    GST Council recommends no GST on transaction of vouchers as they are neither supply of goods nor supply of services. The provisions related to vouchers is also being simplified.

    GST Council clarifies that no GST is payable on ‘penal charges’ levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms

    GST Council recommends reduction of payment of pre-deposit for filing an appeal before the Appellate Authority in respect of an order passed which involves only penalty amount

    Posted On: 21 DEC 2024 8:23PM by PIB Delhi

    Jaisalmer, Rajasthan, 21 st December 2024

    The 55th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in Jaisalmer, Rajasthan, today.

    The meeting was also attended by Union Minister of State for Finance Shri Pankaj Chaudhary, Chief Ministers of Goa, Haryana, Jammu and Kashmir, Meghalaya and Odisha; Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, and Telangana; besides Finance Ministers of States & UTs (with legislature) and senior officers of the Ministry of Finance & States/ UTs.

     

    The GST Council inter-alia made the following recommendations relating to changes in GST tax rates, provide relief to individuals,measures for facilitation of trade and measures for streamlining compliances in GST.

    A. Changes in GST rates of goods

    GOODS

    1.   To reduce the GST rate on Fortified Rice Kernel (FRK), classifiable under 1904, to 5%.

    2.   To exempt GST on gene therapy.

    3.  To extend IGST exemption to systems, sub-systems, equipment, parts, sub-parts, tools, test equipment, software meant assembly/manufacture of LRSAM system under Notification 19/2019-Customs.

    4.         To reduce the rate of Compensation Cess to 0.1% on supplies to merchant exporters at par with GST rate on such supplies.

    5. To exempt from IGST imports of all equipment and consumable samples by Inspection Team of the International Atomic Energy Agency (IAEA) subject to specified conditions.

    6.To extend the concessional 5% GST rate on food inputs of food preparations under HSN 19 or 21 that are supplied for food preparations intended for free distribution to economically weaker sections under a government program subject to the existing conditions.

    SERVICES

    1. To bring supply of the sponsorship services provided by the body corporates under Forward Charge Mechanism.

     

    1. To exempt GST on the contributions made by general insurance companies from the third-party motor vehicle premiums collected by them to the Motor Vehicle Accident Fund, constituted under section 164B of the Motor Vehicles Act, 1988. This fund is constituted for providing compensation/ cashless treatment to the victims of road accidents including hit and run cases.

     

    1. To omit the definition of declared tariff and suitably amend the definition of specified premises (from the services rate and exemption notifications) to link it with actual value of supply of any unit of accommodation provided by the hotel and to make the rate of GST applicable on restaurant services in such hotels, for a given financial year, dependent upon the ‘value of supply’ of units of accommodation made in the preceding financial year, i.e. 18% with ITC if the ‘value of supply’ exceeded Rs. 7,500 for any unit of accommodation in the preceding financial year, and 5% without ITC otherwise. Further, to give an option to pay tax on restaurant service in hotels at the rate of 18% with ITC, if the hotel so chooses, by giving a declaration to that effect on or before the beginning of the financial year or on obtaining registration.The above changes to be made effective from 01.04.2025 to avoid any transition difficulties.

     

    1. To exclude taxpayers registered under composition levy scheme from the entry at Sr. No. 5AB introduced vide Notification No. 09/2024-CTR dated 08.10.2024 vide which renting of any commercial/ immovable property (other than residential dwelling) by unregistered person to registered person was brought under reverse charge mechanism. Further, to regularize the period from the date when the notification No. 09/2024-CTR dated 08.10.2024, became effective i.e. from 10.10.2024 till the date of issuance of the proposed notification on “as is where is” basis.

     

    Other changes relating to goods and services

    1.         To increase the GST rate from 12% to 18 % on sale of all old and used vehicles, including EVs other than those specified at 18% –Sale of old and used petrol vehicles of engine capacity of 1200 cc or more & of length of 4000 mm or more; diesel vehicles of engine capacity of 1500 cc or more & of length of 4000 mm and SUVs.[Note: GST is applicable only on the Value that represents Margin of the Supplier, that is, the difference between the Purchase price and Selling price (depreciated value if depreciation is claimed) and not on the value of the vehicle. Also, it is not applicable in case of unregistered persons.]

     

    2. To clarify that Autoclaved Aerated Concrete (ACC) blocks containing more than 50% fly ash content will fall under HS 6815 and attract 12% GST.

     

    3. To clarify that pepper whether fresh green or dried pepper and raisins when supplied by an agriculturist is not liable to GST.

     

    4.  To amend the definition of ‘pre-packaged and labelled’ to cover all commodities that are intended for retail sale and containing not more than 25 kg or 25 litre, which are ‘pre-packed’ as defined under the Legal Metrology Act, or a label affixed thereto is required to bear the declarations under the provisions of the Act and rules.

     

    5. To clarify that ready to eat popcorn which is mixed with salt and spices are classifiable under HS 2106 90 99 and attracts 5% GST if supplied as other than pre-packaged and labelled and 12% GST if supplied as pre-packaged and labelled. However, when popcorn is mixed with sugar thereby changing its character to sugar confectionary (eg caramel popcorn), it would be classifiable under HS 1704 90 90 and attract 18% GST. It has been decided to regularise the issues for the past on “as is where is” basis.(Note: There is no new imposition of any tax in this regard and is merely a clarification as certain field units were demanding different tax rates on the same. Therefore, it is a clarification being recommended by the GST Council to settle the disputes arising out of interpretation.)

    6. To clarify that the Explanation in Sl. No. 52B in notification No. 1/2017- Compensation Cess (Rate) dated 28.6.2017 regarding ground clearance is applicable with effect from 26.07.2023.

    7.         To clarify that RBI regulated Payment Aggregators are eligible for the exemption under entry at Sl. No. 34 of notification No. 12/2017-CT(R) dated 28.06.2017 since they fall within the ambit of ‘acquiring bank’ as defined in the said entry.  To also clarify that this exemption does not cover payment gateway (PG) and other fintech services which do not involve settlement of funds.

    8.  To clarify that no GST is payable on the ‘penal charges’ levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms.

     

    B.        MEASURES FOR FACILITATION OF TRADE

    1.         Amendment in Schedule III of CGST Act, 2017

    • To insertclause (aa) in paragraph 8 of Schedule III of the CGST Act, 2017w.e.f.01.07.2017, to explicitly provide that supply of goods warehoused in a Special Economic Zone (SEZ) or Free Trade Warehousing Zone (FTWZ) to any person before clearance of such goods for exports or to the Domestic Tariff Area, shall be treated neither as supply of goods nor as supply of services.
    • This brings transactions relating to supply of goods warehoused in SEZ/FTWZ at par with the existing provision in GST for transactions in Customs bonded warehouse.

    2.         Issues pertaining to taxability of Vouchers

    In a significant move to address long-standing concerns regarding the taxability of vouchers under GST, the GST Council made the following recommendations:

    1. To omit sections 12(4) and 13(4) from CGST Act, 2017 and rule 32(6) from CGST Rules, 2017 to resolve ambiguities in the treatment of vouchers.
    2. To issue clarification on the following issues:
    1. Transactions in vouchers shall be treated neither as a supply of goods nor as a supply of services.
    2. Distribution of vouchers on principal-to-principal basis shall not be subject to GST. However, where vouchers are distributed on principal-to-agent basis, the commission/fee or any other amount charged by the agent for such distribution is taxable under GST.
    3. Additional services such as advertisement, co-branding, marketing and promotion, customization and technology support, customer support etc. related to vouchers would be leviable to GST on the amount paid for these services.
    4. Unredeemed vouchers (breakage) would not be considered as supply under GST and no GST is payable on income booked in the accounts in respect of breakage.

    3. Issuance of clarifications through the circulars to remove ambiguity and legal disputes in certain issues.

    • To issue circulars to provide clarity in the following issues due to varied interpretations by the field formations:
    1. Clarification regarding requirement of reversal of Input Tax Credit by electronic commerce operators in respect of supplies made under section 9(5) of CGST Act, 2017: The GST Council recommended that no proportional reversal of ITC under section 17 (1) or section 17 (2) of CGST Act, 2017 is required to be made by the ECO in respect of supplies for which they are required to pay tax under section 9(5) of CGST Act, 2017.
    2. Clarification on availability of Input Tax Credit as per section 16(2)(b) of CGST Act, 2017 in respect of goods which have been delivered by the supplier at his (supplier’s) place of business : The GST Council recommended to clarify that in an Ex-Works contract, where goods are delivered by the supplier to the recipient or a transporter at the supplier’s place of business, and the property in goods transfers to the recipient at that point, the goods are considered to be “received” by the recipient under section 16(2)(b) of CGST Act, 2017 and the recipient may claim Input Tax Credit (ITC) on such goods, subject to the conditions outlined in Sections 16 and 17 of the CGST Act, 2017.
    3. Clarification regarding applicability of late fee for delay in furnishing of FORM GSTR-9C and providing waiver of late fee on delayed furnishing of FORM GSTR-9C for the period from 2017-18 to 2022-23:
    1. The GST Council recommended to clarify through a circular that the late fee under Section 47(2) of the CGST Act, 2017 is leviable for the delay in filing the complete annual return under Section 44 of the CGST Act, 2017, which includes both FORM GSTR-9 (Annual Return) and FORM GSTR-9C (Reconciliation Statement), where applicable.
    2. For the annual returns pertaining to the period 2017-18 to 2022-23, the GST Council also recommended to issue notification under section 128 of CGST Act, 2017 for waiver of the amount of late fee for delayed filing of FORM GSTR-9C, which is in excess of the amount of late fee payable till the date of filing of FORM GSTR-9 for the said financial years, provided the said FORM GSTR-9C is filed on or before 31st March 2025.

     

    C.        MEASURES FOR STREAMLINING COMPLIANCES IN GST

    1.         Insertion of new provision for Track and Trace Mechanism

    • To insert an enabling provision in CGST Act, 2017 through Section 148A so as to empower the Government to enforce the Track and Trace Mechanism for specifiedevasion prone commodities.
    • The system shall be based on a Unique Identification Marking which shall be affixed on the said goods or the packages thereof. This will provide a legal framework for developing such a system and will help in implementation of mechanism for tracing specified commodities throughout the supply chain.

    2.         Clarification regarding recording of correct details of name of the State of the un-registered recipient as well as correct declaration of place of supply in respect of supply of ‘Online Services’

    • To clarify that in respect of supply of ‘Online Services’ such as supply of online money gaming, OIDAR services, etc. to unregistered recipients, the supplier is required to mandatorily record the name of the State of the unregistered recipient on the tax invoice and such name of State of recipient shall bedeemed to be the address on record of the recipient for the purpose of section 12(2)(b) of IGST Act, 2017 read with proviso to rule 46(f) of CGST Rules, 2017

     

    D.     OTHER MEASURES PERTAINING TO LAW & PROCEDURE

    1.         Amendment in section 17(5)(d) of CGSTAct, 2017

    • To align the provisions of section 17(5)(d) of CGST Act, 2017 with the intent of the said section, the Council has recommended amending section 17(5)(d) of CGST Act, 2017, to replace the phrase “plant or machinery” with “plant and machinery”, retrospectively, with effect from 01.07.2017, so that the said phrase may be interpreted as per the Explanation at the end of section 17 of CGST Act, 2017.

    2.         Amendment in section 107 and section 112 of CGST Act, 2017 to provide for payment of pre-deposit for filing an appeal in respect of an order passed which involves only penalty amount.

    • To amend the proviso to section 107(6) of CGST Act, 2017 providing for payment of pre-deposit at 10% instead of 25 %for filing appeals before Appellate Authority in cases involving only demand of penalty without involving the demand of tax.
    • To insert a new proviso to section 112(8) of CGST Act, 2017 providing for payment of pre-deposit at10%for filing appeals before Appellate Tribunalin cases involving only demand of penalty without involving the demand of tax.

    3. Amendment in section 2(69) of CGST Act, 2017 to insert an Explanation regarding definitions of Local Fund and Municipal Fund: To amend clause (c) of section 2(69) of CGST Act, 2017 and to insert an Explanation under the same to provide for definitions of the terms ‘Local Fund’ and ‘Municipal Fund’ used in the said clause.            

    4. Amendment in provisions pertaining to Input Services Distributor (ISD) mechanism under CGST Act, 2017 and CGST Rules, 2017

    • Toamend Section 2(61) and Section 20(1) of the CGST Act, 2017 to explicitly include inter-state RCM transactions under the ISD mechanism by including reference to supplies subject to tax under section 5(3) and 5(4) of IGST Act, 2017 in the said provisions.
    • Consequentially, to amend section 20(2) of CGST Act, 2017 and rule 39(1A) of the CGST Rules, 2017.
    • These, amendments in CGST Act, 2017 are to be made effective from 01.04.2025.

    5.         Provision for grant of Temporary Identification Number by Tax Officers to persons, not liable to be registered otherwise

    • To insert new rule 16A in CGST Rules, 2017 to provide for a separate provision for generation of temporary identification number for persons, who are not liable to be registered under CGST Act, 2017 but are required to make any payment as per rule 87(4) of CGST Rules, 2017.
    • To amend Rule 87 (4) of CGST Rules, 2017 incorporating a reference to the new Rule and consequential modification of FORM GST REG-12.

    6.Amendment in the field ‘category of registered person’ for taxpayers who opted for composition levy through FORM CMP-02

    • Toamend sub-rule (1) of rule 19 of CGST Rules, 2017 to include reference to FORM GST CMP-02 in the said rule toallow thetaxpayers to modify their “category of registered person” in Table 5 of FORM GST CMP-02throughFORM GST REG-14.

     

    1. Amendment in CGST Act, 2017 and CGST Rules, 2017 in respect of functionality of Invoice Management System (IMS)
    • The GST Council recommended inter-alia-
    1. To amend section 38 of CGST Act, 2017 and rule 60 of CGST Rules, 2017 to provide a legal framework in respect of generation of FORM GSTR-2B based on the action taken by the taxpayers on the Invoice Management System (IMS).
    2. To amend section 34(2) of CGST Act, 2017, to specifically provide for requirement of reversal of input tax credit as is attributable to a credit note, by the recipient, to enable the reduction of output tax liability of the supplier.
    3. To insert a new rule 67B in CGST Rules, 2017, to prescribe the manner in which the output tax liability of the supplier shall be adjusted against the credit note issued by him.
    4. To amend section 39 (1) of CGST Act, 2017 and rule 61 of CGST Rules, 2017 to provide that FORM GSTR-3B of a tax period shall be allowed to be filed only after FORM GSTR-2B of the said tax period is made available on the portal.

    E. OTHER MEASURES:

    • The GST Council approved the recommendation of the committee of officers suggesting measures for the various issues raised by the States in respect of issues pertaining to IGST settlement and asked the committee to conclude the desired changes by March, 2025.
    • The GST Council took note of the procedural rules proposed for the internal functioning of the GSTAT, which would be notified after examination by the Law Committee. This would help in operationalization of the GSTAT.
    • The Council also decided to extend the time frame for the Group of Ministers on the restructuring of the GST Compensation till 30th June, 2025.
    • On the request of State of Andhra Pradesh the Council recommended that a Group of Ministers be constituted to examine the legal and structural issues, and recommend a uniform policy on imposition of levy in case of a natural disaster/calamity in the State.

    The issue of whether charges collected by municipalities for granting FSI including additional FSI, chargeable to GST on reverse charge basis was brought up in the Council. The matter was deferred for further examination on the behest of the Central Government on the ground that this amount relates to Municipalities or local authority.

    Note: The recommendations of the GST Council have been presented in this release containing major item of decisions in simple language for information of the stakeholders. The same would be given effect through the relevant circulars/ notifications/ law amendments which alone shall have the force of law.

    ****

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  • MIL-OSI Asia-Pac: Ashwini Vaishnaw confers 69th Ati Vishisht Rail Seva Puraskar 2024 to 101 Railway officials, 22 Shields to best performing Zones in different categories today at Bharat Mandapam, New Delhi

    Source: Government of India

    Ashwini Vaishnaw confers 69th Ati Vishisht Rail Seva Puraskar 2024 to 101 Railway officials, 22 Shields to best performing Zones in different categories today at Bharat Mandapam, New Delhi

    The Union Minister calls for 3 times more focus in safety, maintenance, quality and training to give world class experience to Rail commuters in India

    Financial rewards along with shields for bringing excellence in work culture of Railways through excellent SMQT (Safest, Maintenance, Quality and Training) practices from next year : Shri Vaishnaw

    Indian Railways is not only meeting current demands but is also setting benchmarks for future: Chairman & CEO, Railway Board

    Posted On: 21 DEC 2024 8:20PM by PIB Delhi

    Union Minister of Railways, Information and Broadcasting, Electronics and IT, Shri Ashwini Vaishnaw conferred 69thAti Vishisht Rail Seva Puraskar to 101 Railway officials and 22 Shields to best performing Zones in different categories today at Bharat Mandapam, New Delhi.  The ceremony has been graced by the presence of Chairman & CEO of Railway Board, Shri Satish Kumar, Members of the Railway Board, and General Managers of various Railway Zones and Production Units.

     

    Addressing the august gathering after conferring the awards and shields, the Union Minister for Railways, Shri Ashwini Vaishnaw congratulated all the awardees for their exceptional work and effort. He highlighted the transformative progress achieved in Indian Railways over the past decade. He emphasized the rapid construction pace, completing projects like the Kashmir to Kanyakumari rail link and pending North-East connectivity initiatives. Electrification efforts have surged, with a goal of 100% electrification by 2025, while projects such as Vande Bharat, Namo Bharat, and the freight corridors have gained momentum. The Kavach safety system has been implemented on a massive scale. Shri Vaishnaw underlined the remarkable progress in station redevelopment, substantial reduction in consequential accidents (from 345 to 90), and an efficient recruitment process, free of complaints, filling 1.5 lakh positions. Cleanliness initiatives have drawn praises, including commendation from opposition leaders, and a new Super App is set to revolutionize passenger experience soon.

    Shri Vaishnaw exhorted the need for tripling efforts in safety, maintenance, quality, and training, to modernize infrastructure and provide a world-class experience to commuters. He announced a significant focus on maintenance innovation, including industry collaborations, enhanced inspection systems, and improved training for officers and technicians, incorporating feedback from grassroots levels. Safety remains a top priority, with initiatives such as zero derailment zones being incentivized with shields and financial rewards. He emphasized the integration of modern technology, policy reforms, and structural changes to ensure sustainable progress. Reflecting on the ethos of “Rashtra Pratham, Sadaiv Pratham,” the Minister called for unparalleled teamwork and relentless efforts to uphold the Railways as a symbol of excellence, serving every citizen, especially the underprivileged, with efficiency and care.He also announced financial rewards along with shields for bringing excellence in work culture of Railways through excellent SMQT (Safest, Maintenance, Quality and Training) practices from next year.

    In his welcome address, the Chairperson & CEO Railway Board, Shri Satish Kumar, emphasized the commitment of Indian Railways to provide affordable rail services  along with world-class travel experience to Rail commuters in India. Addressing the gathering

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi addresses Indian Community at ‘Hala Modi’ event in Kuwait

    Source: Government of India (2)

    Prime Minister Shri Narendra Modi addresses Indian Community at ‘Hala Modi’ event in Kuwait

    The warmth and affection of the Indian diaspora in Kuwait is extraordinary: PM

    After 43 years, an Indian Prime Minister is visiting Kuwait: PM

    The relationship between India and Kuwait is one of civilizations, seas and commerce: PM

    India and Kuwait have consistently stood by each other:PM

    India is well-equipped to meet the world’s demand for skilled talent: PM

    In India, smart digital systems are no longer a luxury, but have become an integral part of the everyday life of the common man: PM

    The India of the future will be the hub of global development, the growth engine of the world: PM

    India, as a Vishwa Mitra, is moving forward with a vision for the greater good of the world: PM

    Posted On: 21 DEC 2024 8:09PM by PIB Delhi

    The Prime Minister Shri Narendra Modi today addressed a large gathering of the Indian community in Kuwait in a special event ‘Hala Modi’ at the Sheikh Saad Al-Abdullah Indoor Sports Complex in the city. Indian nationals representing a cross-section of the community in Kuwait attended the event.

    ​The Prime Minister was welcomed by the community with exceptional warmth and enthusiasm. Addressing the gathering, the Prime Minister noted that the India-Kuwait relationship has been profoundly enriched by the Indian community, which plays a pivotal role in fostering the ties between the two nations. Thanking His Highness the Amir of Kuwait for his gracious invitation, he stated that it was after 43 years that an Indian Prime Minister was visiting Kuwait to strengthen and solidify the age-old friendship.

    The Prime Minister appreciated the hard work, achievement and contribution of the community to the development of Kuwait, which he said was widely recognized by the local government and society. He thanked the leadership of Kuwait for the welfare of the Indian community. Reflecting on India’s strong commitment to support Indian workers in Kuwait and elsewhere in the Gulf, he talked about technology-based initiatives undertaken by the Government such as the E-Migrate portal among others.

    ​The Prime Minister outlined India’s approach as a “Vishwabandhu”, a friend to the world. He elaborated upon India’s rapid progress and transformation, especially in the fields of technology, infrastructure and sustainability. He noted that apart from being the 5th largest economy in the world, India was the global leader in fintech, the third largest global player in the start-up space and among the most digitally connected societies worldwide. He highlighted achievements such as financial inclusion, women-led development and inclusive growth. Reflecting on the shared aspirations of the two countries, of Viksit Bharat and New Kuwait, he underlined that there were huge opportunities for India and Kuwait to work together. India’s skill capacities and innovation could foster new partnerships between the two countries.

    The Prime Minister extended an invitation to diaspora members to participate in Pravasi Bharatiya Divas and Maha Kumbh to be held in India in January 2025.

     

     

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    MJPS/SR

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  • MIL-OSI Asia-Pac: Dr P P VAVA, Member, National Commission for Safai Karmachari (NCSK) visits RINL

    Source: Government of India

    Posted On: 21 DEC 2024 7:49PM by PIB Delhi

    In a meeting held at Board room, Administration building of RINL, the corporate entity of Visakhapatnam steel plant, today, Dr P P VAVA, Hon’ble Member, National Commission for Safai Karmachari (NCSK), interacted with Sri A K Saxena , CMD(additional charge), RINL, Directors and senior officials of RINL.

     

    Sri A K Saxena, CMD (additional charge), RINL extended a cordial welcome and felicitated Dr P P VAVA, Hon’ble Member, National Commission for Safai Karmachari. Representatives of Safai Karmacharis also felicitated the Hon’ble Member, National Commission for Safai Karmachari (NCSK).

     

    A power point presentation was made about RINL and various facilities being extended for the welfare of Safai Karmacharis at Visakhapatnam steel plant.

    Dr.P P VAVA, Member National Commission for Safai Karmachari appreciated the sustained efforts taken by the RINL management in working towards the welfare of Safai Karmacharis of RINL. Dr. PP VAVA appreciated the RINL management for its efforts in improving the quality of life of those residing in tribal areas and others through various CSR initiatives.

    Dr.P P VAVA also interacted with the representatives of Safai Karmachari and discussed the issues of Safai Karmacharis.

    Later, the process of steelmaking was explained by Sri AK Saxena, CMD(additional charge) to Dr.P P VAVA, Member, National Commission for Safai Karmacharie at the Visitor’s gallery located in Executive director(Works) building. Accompanied by Sri AK Saxena, CMD (additional charge) and directors, Dr. P P VAVA has visited Blast Furnace-1 and Wire Rod Mill-1 of Visakhapatnam steel plant.

    Dr.P P VAVA appreciated the neatness, greenery and the technological capabilities of Visakhapatnam steel plant.

    Earlier, upon his arrival at Visakhapatnam steel plant, Dr. PP VAVA planted a sapling and offered floral tributes to the statue of Mahatma Gandhi in the presence of CMD and directors in the administration building of RINL.

    Sri AK Bagchi, Director ( Projects) and additional charge Director( Operations), Dr SC Pandey, Director (Personnel), Sri Ch SRVGK Ganesh, Director (finance), Sri GVN Prasad, Director(Commercial), CGMs, senior officials also participated in the interaction with the Hon’ble Member, National Commission for Safai Karmachari (NCSK).

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  • MIL-OSI Asia-Pac: Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav Inaugurates Advanced Facility for Pashmina Certification and Next Generation DNA Sequencing Facility at Wildlife Institute of India, Dehradun

    Source: Government of India (2)

    Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav Inaugurates Advanced Facility for Pashmina Certification and Next Generation DNA Sequencing Facility at Wildlife Institute of India, Dehradun

    New Wildlife Research Facility a ‘Game-Changer’ for Biodiversity Conservation, says Union Minister Shri Bhupender Yadav

    Posted On: 21 DEC 2024 7:09PM by PIB Delhi

    Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav, today inaugurated the Advanced Facility for Pashmina Certification and Next Generation DNA Sequencing Facility at the Wildlife Institute of India (WII), Dehradun, in the presence of Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh. These new facilities are built on the foundation laid last year, when the Minister inaugurated the Pashmina Certification Centre (PCC) and issued its first unique ID barcode and certificate.

    Next Generation Sequencing Facility (NGS):

    Next-Generation Sequencing (NGS) is a revolutionary technology that enables the rapid and high-throughput decoding of entire genomes, analyzing millions of DNA sequences simultaneously. This allows researchers to gain deeper insights into genetic diversity, evolutionary relationships, and population health. In wildlife conservation, NGS plays a pivotal role in identifying population genetic health with respect to genetic diversity, information on genetic barriers and their effect on populations, unique adaptations and species with unique evolutionary histories, understanding disease outbreaks, detecting illegal wildlife trade, and studying the effects of climate change on biodiversity. This cutting-edge NGS facility positions the Wildlife Institute of India as a leading centre for molecular and genetic research in wildlife conservation, enabling advanced studies in areas such as biodiversity genomics, population genetics, and disease surveillance.

    Speaking on the occasion, Union Minister Shri Bhupender Yadav said, “This facility is a game-changer for wildlife research in India. It empowers scientists with the latest tools to decode the genetic mysteries of our biodiversity and create science-based solutions to protect it. India, as a megadiverse country, needs such advanced capabilities to ensure the survival of our precious wildlife for generations to come.”

    A Self-Sustaining Model

    The PCC represents a unique, self-sustaining initiative within a government organization, generating revenue while creating employment opportunities for budding professionals under the PPP model.

    Shri Bhupender Yadav lauded the Wildlife Institute of India and the EPCH for their collaborative efforts in establishing this world-class facility. He reiterated the government’s commitment to preserving India’s rich cultural heritage while promoting sustainable development and biodiversity conservation.

    Advanced Facility for Pashmina Certification

    In the year since its establishment, the PCC has certified over 15,000 shawls, ensuring their authenticity and the absence of mixing of other fibers, thus enabling seamless trade of genuine Pashmina products in both national and international markets. The upgraded Advanced Facility for Pashmina Certification now includes a dedicated Scanning Electron Microscope (SEM) with Energy Dispersive Spectroscopy (EDS), which enhances the precision and reliability of wool testing and certification.

    A Milestone in Atmanirbhar Bharat

    The PCC, established under a Public-Private Partnership (PPP) model through a Memorandum of Understanding (MoU) between WII and the Export Promotion Council for Handicrafts (EPCH), exemplifies the government’s commitment to supporting artisans, weavers, and traders while fostering self-reliance in traditional handicrafts.

    The upgraded facility offers:

    • Advanced Fiber Analysis: SEM-EDS technology to accurately identify and authenticate Pashmina fibers.
    • Streamlined Certification: Unique ID tagging and e-certificates for traceability and quality assurance.
    • Global Trade Facilitation: Hassle-free movement of certified products, eliminating delays and financial losses due to fibre scrutiny at exit points.

    Supporting Artisans and Conservation Efforts

    Pashmina is a cornerstone of livelihood for the artisan and weaver communities of Jammu & Kashmir. The PCC plays a vital role in promoting their industry by certifying genuine products, enhancing their credibility in global markets, and ensuring fair trade practices. Additionally, the facility discourages the use of prohibited fibers, indirectly contributing to the conservation of the Tibetan antelope (Chiru), whose habitat was previously threatened by illegal trade in Shahtoosh wool.

    Minister of State for Environment, Forests, and Climate Change, Shri Kirti Vardhan Singh highlighted the facility’s potential, stating:
    “With the Next-Generation Sequencing facility, we are equipping ourselves to address modern conservation challenges with precision and innovation. Developing indigenous capacity to handle such modern technologies, and to build capacity in advancements is critical to take our country forward. “

    The NGS facility is expected to bolster ongoing projects and enable new research avenues, including the study of genetic adaptation to climate change, pathogen-host interactions, and the development of conservation strategies for endangered species such as tigers, elephants, riverine dolphins, and other endangered species.

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  • MIL-OSI Asia-Pac: Text of Vice-President’s Address at 5th Global Alumni Meet of Panjab University in Chandigarh (Excerpts)

    Source: Government of India (2)

    Posted On: 21 DEC 2024 6:50PM by PIB Delhi

    Hon’ble Governor of Gujarat, Acharya Devvrat Ji. Acharyaji is a doyen of Governors also, which means the senior most Governor, leading all the Governors. I have had the good fortune to be Governor with him, and therefore know his deep commitment and passion for natural and organic agriculture.He is extremely concerned with the rural sector, the farm sector, and these two taken together are fundamental to the growth of this nation. These are the two vital sectors that will pave the passage for Viksit Bharat at 2047.

    Acharya Devvrat doesn’t believe in preaching. He practices. And those of you who can get the opportunity to go to his farm will see what he talks, he performs first. I still recall before governors of all the states in the presence of the Prime Minister of the country and the Hon’ble President. He addressed us on farming. And trust me, he took much beyond his time, and no one objected. I’m extremely happy to note that he is an alumnus of Panjab University.

    Shri K. K. Paul has had the distinction of being Governor Uttarakhand, Meghalaya, Manipur, Nagaland, Member UPSC and Commissioner of Police Delhi. The presence of Shri Shekhar Gupta, An alumnus of this university is very different for me. In the world of journalism, he has shown his fearless commitment to truth and facts, and presently, as editor-in-chief of the print, he is widely read, and when it comes to critical issues facing the nation, he economizes on words, 50 words. I am a regular reader of his contributions. He has headed country’s most prestigious and independent media. He being the alumnus on the dais is a matter of pride for me.

    Shri Atul Karwal ji, and mind you, he has earned for us global reputation. National disaster doesn’t give any respect to principles of natural justice. It comes, number one, uninvited. It comes with full fury and a DG of National Disaster Response Team, his performance has been exemplary. So exemplary that the nation has earned laurels and we have been accoladed globally that in similar situations on the planet, Bharat has earned the name being one of the first responders.

    He is the initiator of a new culture and I had the good fortune to get the benefit of it as Governor of the state of West Bengal. On account of geographical conditions and being a country close to the sea, our entire line, thousands of kilometers, is always a challenge. States of West Bengal, Odisha in particular suffer cyclones. It is in that capacity I came to know gradation of cyclones. But I can share with you. So remarkable was the performance that human lives were saved, hardly any mortality.

    And therefore I can say that the alumnus on the dais, Acharya Devvrat, Shri K. K. Paul, Shri Shekhar Gupta and Shri Atul Karwal, are amongst many who are legends, who are respected for their contributions, their convictions and their deep commitment, and I would be reflecting a little later if we have such a rich reservoir of human resource, such a talent that is nationally and globally acknowledged, time for us to engage into optimum output.Professor Renu Vig, the first woman Vice-Chancellor of this University, and if I may engage into some kind of self-praise, appointed by a Chancellor, who comes from rural stock. Her two years have defined this university with transparency, accountability and dedication.

    I will also not commit a mistake of not naming my dear friend, Shri Satpal Jain, a distinguished senior advocate, one of the senior constitutional functionaries in the legal field of government of India, and associated also for a number of years with the management of this university in capacity as a member of the Senate or Syndicate. Ladies and gentlemen, there is the presence of another gentleman I must take note of. He is an alumnus of IIT Kanpur.He is Shri Sunil Kumar Gupta, 1987 batch, IAS officer. And he is helping the Vice-President of the country as secretary to the Vice President.

    Countries are known by the institutions they nurture. Because it is institutions that are crucibles of innovation, change, research. They catalyse big change, they create concepts. It is their innovation that is translated by industry, by process of execution. And therefore countries that are ahead in research and develop research are the countries that emerge as world leaders. Let me give you some figures to begin with. Harvard endowment fund in 2024, ladies and gentlemen, jumps to 53 billion US dollars endowment fund. And this is larger than the GDP of 120 countries, and at the base of it is the alumni of Harvard.

    The alumni of Panjab University. They have occupied positions of the President of the country, the Vice President of the country, the Prime Minister of the country, Cabinet Ministers, Secretaries and Cabinet Secretaries, distinct positions in armed forces, in journalism, in art, in culture, in sports, Nobel laureate and what not. But then, I am here to see their commitment only as alumni of this institution. Just imagine the power of the alumni if they act in a structured manner. If they nurture their alma mater, the results will not be geometrical, they will be incremental.

    सुना था बहुत दिनों से अपना चेहरा नहीं देखा, कोई आईना तो दिखा दे। With utmost restraint at my command but out of great compulsive need मैं alumni को आज आईना दिखाना चाहता हूं। Society progresses. Why? Because we need an ecosystem that enables every citizen to fully exploit his/her potential to realize ambitions and aspirations. We accolade the prime minister of the country. Why? He created such an ecosystem. It generated an atmosphere of hope and possibility.

    He gave new dimension to development. It became people-centric. His achievements are phenomenal, reflected in our exponential economic rise, infrastructure we never dreamt of, and our outreach of inclusion in banking sector to the rural woman by way of gas connection, by way of toilets, by way of नल and नल with जल. There is a question before all of us. Has the rich resource of alumni of this prestigious university exploited its resources, its talent or potential to nurture this institution.

    I leave this soul searching to all of you. But I will make one appeal. Those who look back carry bad baggage. Let us shake off that baggage. Time to make a new beginning. Why a new beginning? We are at a turning point in our history. We are already in the last quarter of independence of our country.

    The centennial independence of our country, last quarter. We have entered the last quarter of the century of adoption of the Indian Constitution. And therefore, right time for the alumni of this prestigious university to take a call. संकल्प लेकर जाएँगे, संकल्पित होकर जाएँगे कठोर निर्णय करेंगे हर वर्ष पंजाब यूनिवर्सिटी के लिए योगदान दूँगा। It doesn’t matter, ladies and gentlemen, what your fiscal contribution is. What matters is that there is contribution.

    Ladies and gentlemen, these endowment funds are not to be analyzed in the context only of it being, let’s say, for Harvard or 50 billion US dollars. No. This generates a great integral bond with the university, with its students. And that bond reflects positively, affirmatively, in several areas. I would seek to invite a focus

    Alumni engagement is vital for curriculum development. Can you imagine of a greater human resource that can make available to you ideas as to what should go into your curriculum. Industry alignment, research in partnerships, evolution of policies, governance mechanisms, financial support is only one part of it. The other part will change the careers of many for the better. It is through your efforts that universities will be enabled to embrace critical thinking innovation. Prepare, motivate, energize and inspire our youth for entrepreneurship. Your input can shape them into future leaders.

    And it is a time when we must have mindset and culture in the country that when it comes to country’s interest, let us not have partisan approach. Let our instinct be fired only by nationalism. Let nationalism alone guide us. Let the principle of nation being always first guide us. I am pained and disturbed on two counts. One, some states have not adopted it. I am sure this is inconceivable on any rational ground. How can this happen? And this happens because the academia, the intelligentsia and the journalism, those in journalism, they don’t generate that pressure.

    We cannot afford in this country to engage into politics at the cost of nationalism or development. That is something which has to be focused. The role of alumni is much beyond. I don’t want this to be limited only to educational institutions. I have advocated from this platform. Number one, wherever I go, I find Panjab University Alumni Associations good, remarkable. It keeps people in connect but please have one confederation of alumni associations for Panjab University. Second, there must be national confederation of alumni associations, of IITs, of IIMs, of universities like Panjab University, institutes of eminence, and that will be a think tank unrivaled and matched in the world. Such kind of remarkable human resource can contribute.

    In evolution of national policies. They will bring on the table their global experience. I’m reminded of a young student who told me just a month back that there was a time when an Indian mind was not seen in global corporates. And now there is no global corporate that doesn’t see Indian genius at the apex level. That’s a big change.

    भारत ने कभी नहीं सोचा था कि भारत दुनिया में आज इतने प्रखर पर होगा। कल्पना से परे था कि जिन्होंने हम पर राज किया और उस स्थान पर मैं राज्यपाल भी रहा।पश्चिम-बंगाल का राजभवन। उनको हमने पीछे छोड़ दिया। हमें कहा जाता था कि दुनिया के अंदर पाँच हिलती डुलती अर्थव्यवस्थाएं हैं। Fragile five economies of the world, We suffered being part of it and now our economy is spinally so strong that we are among the top 5 और दो साल में जापान और जर्मनी, हम किसी को पीछे नहीं छोड़ते हम सिर्फ आगे निकलना जानते हैं।

    मैंने आँखों से देखा है। I was elected to Parliament in 1989, I was a Minister. मेरी आँखों के सामने निर्णय लिया गया कि भारत का सोना भौतिक रूप से स्विट्ज़रलैंड के बेंक में गिर्वी रखा जाएगा, और रखा गया क्योंकि Foreign Exchange डगमगा रहा था। आज उस समय के मुकाबले Foreign Exchange 700 गुना है– 700 times, मैंने वो आँखों से देखा जब 1990 में मंत्री परिषद के सदस्य के रूप में श्रीनगर गया था। डल लेक के कोने पर वो होटल है। जहां हम रुके थे, हमें 2-3 दर्जन से ज्यादा लोग दिखाई नहीं दे रहे थे और मैंने वो सीन भी देखा, जब राज्यसभा में बताया गया हर साल 2 करोड़ से ज्यादा पर्यटक जा रहे हैं। More than 2 Crores, मैंने देखा है, उस समय वातावरण क्या था। कानून के समक समानता नहीं थी, नहीं थी समानता ! Power corridors were extralegally leveraged by nefarious elements, Shekhar Gupta ji का write up है, you can go to that.

    ऐसे हालात में Alumni Association का role बहुत बड़ा हो जाता है। आपके मजबूत कंधों पर बहुत बड़ी जिम्मेवारी है।आज यदि अगर आप ठान लेते हैं, आज अपनी Alma mater को आप गले लगा लेते हैं, आज आप संकल्प लेते हैं कि हम इस University को भी बदलेंगे, इस University के हर छात्र जीवन को हम दिशा देंगे-क्रांतिकारी नतीजे आएंगे, क्यूंकि अपना देश बड़ा विचित्र है। Here iconic status is determined on parameters that are baffling. Look around and you’ll find iconic figures and देखें वो कैसे अपना कलर बदलते हैं। I would not name, I would leave it to your genius. The Indian Banking sector is doing good now because is handling NPAs created by earlier regime. छपा है, उनका बयान देखिए। जब जोड़ने की लंबी यात्रा हो रही थी, एक उद्घोषणा की गई की इस देश के अंदर 5% से ज्यादा की ग्रोथ तो हो ही नहीं सकती। शेखर गुप्ता जी आपने तो जरूर प्रश्न पूछा होगा उनसे की ग्रोथ तो 5 के बजाय 2.5 गुना हो गई थी।

    Ladies and gentlemen, as citizens of this country, it is our prime obligation to ensure that we do not allow in this country disorder to be order of the day. It is indigestible for us. We cannot allow people who have inimical instincts, intentions, evil design towards our progress, and trust me, these forces are powerful. These forces are powerful only on two planks — One, they are fueled by fiscal power which is very tempting. So people fall prey to it. When they fall prey to it, they for a moment forget nationalism and commitment to the nation or the nation first principle, पर जब आम नागरिक, आम भारतीय आज शासन कि सकारात्मक नीतियों को अपने पक्ष में मान रहा है। सकारात्मक नीतियों का लाभ उस तक पहुँच रहा है तो यह जरूर सामने आता है कि जो हो रहा है वो और ज्यादा होना चाहिए, but fundamental premise is we must acknowledge what is happening.

     

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    JK/RC/SM

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  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah addresses the 72ndPlenary meeting of the North Eastern Council (NEC) in Agartala, Tripura

    Source: Government of India

    Union Home Minister and Minister of Cooperation Shri Amit Shah addresses the 72ndPlenary meeting of the North Eastern Council (NEC) in Agartala, Tripura

    Prime Minister Shri Narendra Modi ji has brought the Northeast into the focus of development with his vision and sensitivity

    Modi government stands with the northeastern states for resolving their all problems

    NEC is working to identify the needs and challenges of various sectors and provide effective solutions, playing a crucial role in determining the direction of development

    The goal of the Modi government is to accelerate the pace of development in the Northeast and bring this region at par with the rest of India

    Modi government is implementing the mantra of ‘Act East, Act Fast, and Act First’

    Efforts should be made to change the approach, training and focus of the police in every state of the Northeast, transforming the culture and direction of the police force

    In last 10 years, 71% reduction in violent incidents and 86% decrease in civilian deaths in the Northeast has been registered and 10,574 insurgents have surrendered

    Modi government has achieved success in establishing peace in the Northeast through various peace agreements

    Time has come for every citizen of the Northeast to be given their constitutional rights of protection of property, dignity and their family, which are imbibed in the three new criminal laws

    Modi government has attracted investors and worked towards opening global markets for the region,to accelerate the development of the Northeast

    Posted On: 21 DEC 2024 6:47PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Shri Amit Shah addressed the 72nd Plenary Session of North Eastern Council (NEC) in Agartala, Tripura today. Union Minister Shri Jyotiraditya M. Scindia, Governor, Tripura, Shri Indrasena Reddy Nallu, Chief Minister, Tripura, Professor (Dr.) Manik Saha and Union Home Secretary, Shri Govind Mohan were present on the occasion. The meeting was also attended by the Governors of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Sikkim, as well as the Chief Ministers of Arunachal Pradesh, Assam, Manipur, Mizoram, Nagaland, and Sikkim, along with the Minister of Community and Rural Development of Meghalaya, and several other dignitaries.

    In his address, Union Home Minister said under the leadership of Prime Minister Shri Narendra Modi past 10 years have been very important for the North East Region. He said that the way Prime Minister Modi has brought this region into the focus of the world is transformative for the entire Northeast. Shri Shah said that for a long time this region was mere an issue of speeches for Delhi, but Prime Minister Modi has brought this area into the focus of development with his vision and sensitivity. He said that in the last 10 years, due to the unprecedented development of infrastructure in the Northeast, not only has the physical distance been reduced, but Prime Minister Modi has also worked to bridge the distance of hearts between the people of this region and Delhi.

    Union Home Minister said that when Prime Minister Modi gave priority to the Northeast himself, it naturally became the priority of the entire central government.He said that today our Northeast region is on the path of development despite much diversity. He said that 10 years ago, more than 200 tribal groups and more than 195 dialects and languages of the region had become our weakness in a way, causing different kinds of conflicts. Shri Shah said that today, when we look back, it is Prime Minister Shri Modi ji who has done the work of converting that weakness into strength and power.He said that today, more than 200 tribal groups, due to their cultural diversity, have become the center of attraction for the entire world, and over 195 dialects and languages have contributed to making the Northeast one of the 36 biodiversity hotspots in the world.

    Union Home Minister said that there are more than 7,500 species of flowers in the Northeast alone, along with various types of wildlife and water resources. The Modi government has made significant efforts over the past 10 years to preserve these natural diversities and transform the region into a preferred tourist destination.

    Union Home Minister and Minister of Cooperation said that the Modi government has accomplished the most important task of establishing peace in the Northeast. In the past 10 years, several peace agreements have been signed and about10574 armed youths have surrendered and joined the mainstream, bringing peace to the Northeast and laying the foundation for development. He also mentioned the entire country and the world are now accepting Modi ji’s concept of ‘Ashtalakshmi’

    Union Home Minister said that today the entire country wants the prosperity for every individual and states of the Northeast so that the Northeast continues to contribute to the development of the country. He said that in the 10 years of the Modi government, efforts have been made to build all kinds of foundational structures to move forward on the path of development with such diversity. Union Home Minister added that now, it is time to build a strong, tall, and inclusive structure of development on this foundation. He said that the government has always given priority to the Northeast, and the goal of the Modi government is to bring this region on par with the rest of India by accelerating the pace of its development. Shri Shah mentioned that during former Prime Minister Shri Atal Bihari Vajpayee’s government, the Ministry of DONER (Development of North Eastern Region) was established.Modi Ji urged the entire Cabinet to visit the Northeast and stay overnight there, resulting in central ministers’ spending over 700 nights in the region. He added that Prime Minister Modi himself has visited the Northeast 65 times, and during each visit, he has brought developmental gifts for the region.

    Shri Amit Shah said that the Modi government has left no stone unturned in preserving the culture of the Northeast. He mentioned that it was the Modi government that worked to include the most languages from the Northeast in the Eighth Schedule of the Constitution.Shri Shah said that in various peace agreements, the central government has not only empowered and preserved the different dialects of the Northeast but has also advocated for primary education to be provided in the local languages of the region. This has greatly benefited the preservation of our cultural heritage. He noted that now, it is time to give a big push to the country’s efforts to become a 5 trillion dollar economy through the development of the Northeast. He mentioned that for this, the ministries of DONER and the North Eastern Council (NEC) are working to implement the mantra of “Act East, Act Fast, and Act First.”

    Union Home Minister said that over the past 50 years, the NEC has served as an important platform for discussing the aspirations, needs, and potential solutions to challenges, and has worked to become the blueprint for the development of the Northeast.He said that the NEC has played a crucial role in harmonizing the policies of the Government of India and the states of the Northeast, ensuring that development reaches the grassroots level. He added that the NEC has been responsible for formulating development plans, connecting various tribal groups with development, and outlining the development of the Northeast by viewing the entire region from a unique perspective.

    Shri Amit Shah said that Prime Minister Modi has created a positive ecosystem and on the basis of this, the states and the Ministry of DoNERmust improve the investment ecosystem. He said that connectivity from the region is no longer a problem and in some time connectivity with the world will also no longer be a problem.ShriShah said that Prime Minister Modi has created a positive ecosystem, and based on this, the states and the DONER Ministry must improve the investment ecosystem. He stated that connectivity is no longer a problem, and connectivity with the world will also no longer be an issue.He said that after the Bangladesh Enclaves Exchange, our goal of connecting the Northeast with the world will be achieved very soon. He mentioned that this will strengthen the industrial ecosystem in the Northeast, and will also open up global market for those investing here. Shri Shah emphasized that for this, each state must strengthen its efforts. He also stated that the Government of India encourages all investors to invest in the Northeast.

    Union Home Minister and Minister of Cooperation said that recently, the Union Cabinet has decided to establish three semiconductor units in the Northeast for the development of the semiconductor and display manufacturing ecosystem. He mentioned that one of these units, Tata Semiconductor Assembly and Test Private Limited, will be set up in Assam with an investment of approximately ₹27,000 crore, which will be the largest investment so far. He added that this will create 20,000 direct jobs and 60,000 indirect job opportunities. Shri Shah further added that keeping this future potential in mind, the Ministry of Education, Government of India, is preparing courses in collaboration with universities in the Northeast to equip the youth with relevant education and knowledge. He emphasized that this will generate a large number of jobs for the youth in all eight states of the Northeast.

    Shri Amit Shah said that it is crucial for the Northeast region to attract industrial investment, and efforts to accelerate this need to be intensified. He mentioned that the Northeast cannot remain peaceful solely through the development of the region and states; there needs to be a balance in the development of individuals, villages, and states. He emphasized that for the development of individuals, the development of villages must be ensured, and to achieve this, along with industrial development, the region must become self-reliant in the production of milk, vegetables, eggs, fish, and meat. He said that organic products, milk, vegetables, eggs, and such items are what can drive individual development in the region, and until every individual is prosperous, the vision of a prosperous Northeast cannot be realized.

    Union Home Minister said that organic farming naturally takes place throughout the Northeast. He urged all the governors, chief ministers, and chief secretaries present at the meeting to join the National Cooperative OrganicsLimited (NCOL) established by the Government of India. The objective of NCOL is to connect all farmers engaged in cooperative organic farming and build infrastructure for packaging, marketing, and export. He emphasized that all states should enter into agreements with NCOL and link their farmers to it, so that their organic products can reach the global market. Shri Shah further stated that the Modi government has decided to establish an organic certification lab in every state of the Northeast, and in larger states like Assam, one in each district. This will ensure reliable organic certification for both soil and agricultural products. He added that through brands like Amul and Bharat, our products will be able to reach global markets.

    Shri Amit Shah said that every type of connectivity in the Northeast is a priority for the Modi government. He mentioned that the Mission Palm Oil has the potential to become a significant pathway for the development of all the states in the Northeast. He highlighted that the production of oilseeds in the country is low, and we are still not self-reliant in the edible oil sector, but Mission Palm Oil can make us self-reliant in this area. Shri Shah added that so far, there is a proposal to develop 10 new oil mills in the Northeast.

    Union Home Minister and Minister of Cooperation said that the Modi government has adopted a multi-dimensional approach in the field of security, and by creating a specific strategy for each state, we have made progress over the last 10 years. He mentioned that as a result of this strategy, the police, army, Assam Rifles, and Central Armed Police Forces (CAPFs) have successfully established a very good system in the Northeast. Shri Shah stated that in the last 10 years, violent incidents in the Northeast have reduced by 71%, and civilian deaths have reduced by 86%. He added that nearly 10,574 insurgents have surrendered, and due to several peace agreements, the Government of India has succeeded in establishing peace throughout the Northeast.

    Shri Amit Shah said that Prime Minister Modi has launched a campaign for a drug-free India, in which the Northeast has a special responsibility, as a major route for narcotics entering India passes through the states of the Northeast. He mentioned that significant work has been done in the last 6 years in this direction, but our pace is still not sufficient. Home Minister urged all the governors and chief ministers present at the meeting to emphasize organizing district-level meetings of the District Monitoring Committees and to ensure their effective monitoring. He stated that drug addiction destroys future generations, and our goal is to make India completely drug-free, with the Northeast playing a significant role in this campaign.

    Union Home Minister said that preparations are underway to fully implement three new criminal laws across all the states in the Northeast. He mentioned that after the complete implementation of these laws, justice will be delivered within three years, even in the most complex cases, including those reaching the Supreme Court. He pointed out that for years, the focus of the police in all states was solely on combating insurgency and violence. However, now that violence has almost ceased in the Northeast, it is time to ensure that every citizen in the region is granted their constitutional rights to property, honor, and family protection, which are included in these three laws.

    Home Minister emphasized that it is time to change the culture and direction of the Northeast police. He said that with peace prevailing in the region, the focus should now be on ensuring citizens receive their rightful entitlements. For this, a change is needed in the approach, training, and focus of the police in every state of the Northeast. He mentioned that the prerequisite for achieving this change is the complete implementation of these three new laws across all states in the region.

    Shri Amit Shah urged all the governors present at the meeting to personally monitor this process, as it is crucial to establish the belief in the Northeast that citizens can obtain justice through filing an FIR. He said that for four decades, the police forces in all the states of the Northeast were entirely focused on combating insurgency, and now that insurgency is no longer a major issue, the focus must shift to providing citizens with their rights. He said that if this is achieved, the constitutional rights granted to citizens across the country will also be granted to the citizens of the Northeast.

    Shri Amit Shah said that the allocation for the PM-DevINE scheme was approximately ₹6600 crore, but it will soon be increased to ₹9000 crore. He mentioned that for the development of the Northeast, there are more than 111 projects, including roads, power, education, healthcare services, sports infrastructure, and tourism projects. He added that from 2014-15, the budget for the Northeast has increased by 153%, and through the Bamboo Mission, the government has set an ambitious goal to make the entire Northeast prosperous. Shri Shah emphasized that the Modi government will provide all possible support for every type of connectivity in the Northeast, and there will be no shortage of budget for this purpose.

    Union Home Minister and Minister of Cooperation said that plans worth ₹81,000 crore have been made for rail connectivity and ₹41,000 crore for road connectivity. He mentioned that 64 new air routes have been launched, and the remaining work will be completed in the next three years. Shri Shah emphasized that the states of the Northeast should make the most use of NESAC (North Eastern Space Applications Centre). He stated that until technology is utilized for the development of the eight northeastern states with challenging geographical conditions, the focus on development cannot be properly defined.

    Regarding the flood problem in the Northeast states, the Home Minister said that by using technology to create pathways in the natural course, the budget for constructing roads could be reduced by at least 30%. He added that by diverting floodwaters and creating large ponds, all three objectives—flood prevention, agriculture, and tourism—could be achieved. He mentioned that Assam has created 15 large ponds on an experimental basis, and all states should use this method for flood relief and water storage. Shri Shah also stated that the use of technology reduces corruption and helps in advancing Direct Benefit Transfers (DBT).

    Shri Amit Shah said that a peaceful and prosperous Northeast alone is not enough. He emphasized that preserving the cultural diversity, arts, literature, and languages of the Northeast, and ensuring their existence, is important not only for the Northeast but for the entire country. He mentioned that under the leadership of Prime Minister Shri Narendra Modi, the Government of India stands with the states of the Northeast to solve every issue they face. He expressed confidence that by 2047, when India becomes fully developed, the Northeast will be the country’s most prosperous region.

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  • MIL-OSI Asia-Pac: Key stakeholders from NPS ecosystem to come together with the launch of Association of NPS Intermediaries (ANI) today

    Source: Government of India (2)

    Key stakeholders from NPS ecosystem to come together with the launch of Association of NPS Intermediaries (ANI) today

    Necessary to plan early for pension, ANI may create awareness about it: Secretary, Department of Financial Services, Government of India

    ANI to strengthen & redouble efforts to expand pension coverage in India through collective efforts and feedback mechanism: PFRDA Chairperson Dr. Deepak Mohanty

    Posted On: 21 DEC 2024 3:34PM by PIB Mumbai

     

    : Mumbai, December 21, 2024

    The Association of NPS Intermediaries (ANI) was officially launched today at a conference titled “Securing Tomorrow, With Pension” held at the Insurance Institute of India, Mumbai today. On the occasion, the association’s logo was also unveiled by the Chairperson of PFRDA, Dr. Deepak Mohanty.  This landmark initiative brings together key stakeholders from the National Pension System (NPS) ecosystem to foster collaboration, strengthen subscriber welfare, and promote the continued growth of NPS as a critical retirement planning tool for the citizens of India.

    The Secretary, Department of Financial Services (DFS), Ministry of Finance, virtually delivered the keynote address on the occasion. DFS Secretary congratulated the newly formed Association of NPS Intermediaries. It was emphasised that, with the changing demographics, rapid urbanisation and changes in family structure, early planning for the pension product by an individual is a necessity. In this regard, he urged advocacy by the newly formed association. The association was assured that any feedback from them will be examined with utmost care and urgency.

    Speaking at the conference, PFRDA Chairperson Dr. Deepak Mohanty, emphasized,
    “The launch of the Association of NPS Intermediaries is a significant milestone for the pension sector. I am confident it will further strengthen & redouble our efforts in creating awareness to expand pension coverage in India through collective efforts and feedback mechanism. The Association will lead the charge, with guidance from its members and regulators, to become a global benchmark for financial security.”

    Dr. Mohanty stated, National Pension System (NPS) has seen tremendous growth in recent years, establishing itself as a cornerstone for long-term retirement planning in India. With assets under management (AUM) exceeding ₹13.8 lakh crore, both Atal Pension Yojana (APY) and NPS, having a total subscriber base of 8 crores, has emerged as one of the most efficient, tax-advantageous, and low-cost retirement solutions available today. This remarkable growth underscores the increasing acceptance of pension schemes and the vital role it plays in securing the future of India’s working population, he added.

    Dr. Mohanty also said that the NPS industry is expanding rapidly, driven by growing awareness, government initiatives through PFRDA and NPS Trust and support from a robust network of intermediaries. The system’s flexibility, transparency, and ability to cater to a wide range of investors—from salaried employees to self-employed individuals—have made it a preferred choice for retirement planning across the country. The steady rise in subscribers and growing assets reflect the confidence Indian citizens place in NPS as a trusted retirement product, said the PFRDA Chairperson.

    Speaking about the important role to be played by ANI, Dr. Mohanty said, as the NPS ecosystem evolves, the formation of the Association of NPS Intermediaries marks a significant milestone. This association unites various stakeholders, including Pension Fund Managers.

    The conference titled “Securing Tomorrow, With Pension” featured an insightful address by Shri Siddhartha Mohanty, Chairperson of LIC of India, who focused on the pivotal role of increased pension assets in the development of the financial sector in India. Shri Rama Mohan Rao Amara, MD of State Bank of India, and Shri Amitabh Chaudhry, MD & CEO of Axis Bank Ltd., shared their perspectives on the critical role financial institutions play in driving the adoption and growth of the NPS. Shri Animesh Mishra, Additional Central Provident Fund Commissioner, EPFO, also addressed the gathering, emphasizing the lack of advocacy about the need for sustainable pension and EPF alone will not be sufficient to reach the desired replacement rate.

    A panel discussion on “Pension Society in Viksit Bharat@2047”, moderated by Prof. (Dr.) Manoj Anand, Whole-Time Member (Finance), PFRDA, with participation of experts from the Government, Industry and Academia.  During moderation, Prof. (Dr.) Manoj Anand, Whole-Time Member (Finance), PFRDA in its opening remark highlighted on the increased longevity, need for financial literacy and long-term sustainable investment options focussed on ESG. Shri Pankaj Sharma, Joint Secretary, DFS emphasized that Government is taking adequate steps to increase the penetration and the young generation should be sensitised the saving for pension. Dr Ritu Anand, Thought Leader, Human Resources stated that lot of work has to be done by the HR Community to introduce NPS starting from the top management of the corporates. Sh. Dhirendra Kumar, CEO, Value Research mentioned that Pension Funds should aim to make investment provisions for the longer term considering the longer investment horizon of the product. Smt Bahroze Kamdin, Partner, Deloitte Haskins & Sells informed that NPS is a tax efficient product and at the same time ensures that the investments are safe and secure with decent returns. Prof S.V.D. Nageswara Rao, Prof and Head, SJM School of Management, IIT Bombay mentioned that Financial Literacy is most important step to ensure better penetration of pension across the society.

    About Association of NPS Intermediaries (ANI)

    The Association of NPS Intermediaries is a collective platform representing all stakeholders in the NPS ecosystem. It is committed to enhancing the effectiveness of the system, strengthening subscriber welfare, and collaborating with policymakers to shape the future of retirement planning in India. The ANI stakeholders are Points of Presence (Bank and Non-Bank), Central Record Keeping Agencies, Trustee Banks, Custodians, Aggregators, Annuity Service Providers, Pension Agents, Retirement Advisors, and other industry participants.

    The primary objectives of the association are to:

    • Promote NPS as a reliable, flexible, and tax-efficient retirement product.
    • Focus on subscriber welfare by ensuring smooth and transparent processes within the system.
    • Collaborate with regulators and policymakers to improve the NPS framework and contribute to developing the pension market in India.

     *****

    Sriyanka Chatterjee/ Edgar Coelho/P.Kor

     

     

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  • MIL-OSI Asia-Pac: BharatNet: Bridging the Digital Divide

    Source: Government of India

    BharatNet: Bridging the Digital Divide

    From Remote Villages to Smart Communities

    Posted On: 21 DEC 2024 9:55AM by PIB Delhi

    Introduction to BharatNet

     

    In a world increasingly driven by digital innovation, internet connectivity has become a cornerstone for economic growth, education, healthcare, and governance. Digital divide was significant challenge, especially in rural India, and to address this, the government of India launched BharatNet in October 2011, an ambitious project aimed at providing affordable high-speed internet access to every Gram Panchayat in the country. This initiative, under the Ministry of Communications, seeks to empower rural India, fostering inclusive growth and bridging the gap between urban and rural communities. BharatNet is not merely an infrastructure project; it is the backbone of India’s journey towards a truly digital nation.

    Amended BharatNet 2023

     

    In August 2023, the government approved the Amended BharatNet Program (ABP). The program provides for internet access by Optical Fibre (OF) connectivity to 2.64 lakh GPs in ring topology and also to provide OF connectivity to the remaining non-GP villages (approx. 3.8 lakhs) on demand basis. The design improvement, at a cost of Rs. 1,39,579 crores, in ABP is aiming at:

    • Optical fiber connectivity from Block to GP in Ring topology
    • IP- MPLS network with Routers at Blocks and GPs
    • Provision of optical fiber connectivity to non-GP villages on demand basis
    • Provision for Operation and maintenance for 10 years, including monitoring of network uptime through Centralized Network Operating Centre (CNOC) and payment to Project Implementation Agency (PIA) as per Service Level Agreement (SLA)
    • Provision of Power backup of adequate level at GPs and Blocks
    • Provision of Remote Fibre Monitoring System (RFMS) at Block for fibre monitoring

     

    Digital Bharat Nidhi: Funding BharatNet

     

    Digital Bharat Nidhi (DBN) is a fund that aims to improve the quality and accessibility of telecommunications services in India. It was established by the government of India as a replacement for the Universal Service Obligation Fund (USOF). The DBN’s goals are to:

    • Provide affordable and high-quality mobile and digital services in rural and remote areas
    • Ensure equitable access to knowledge and information
    • Promote economic growth by increasing digital connectivity and services
    • Narrow the digital divide and remove barriers to access

    Working of BharatNet

     

    BharatNet operates as the world’s largest rural broadband connectivity program. The project is being executed by a Special Purpose Vehicle (SPV) namely Bharat Broadband Network Limited (BBNL), which has been incorporated on 25.02.2012. On 30.04.2016, the Telecom Commission approved to implement the project in three phases:

    1. Phase I: Focused on laying optical fiber cables to connect 1 lakh Gram Panchayats by utilizing existing infrastructure. Completed in December 2017, this phase established the foundational network.
    2. Phase II: Expanded the coverage to an additional 1.5 lakh Gram Panchayats using optical fiber, radio, and satellite technologies. This phase incorporated collaborative efforts with state governments and private entities.
    3. Phase III: Aims at future-proofing the network by integrating 5G technologies, increasing bandwidth capacity, and ensuring robust last-mile connectivity. This phase is ongoing, with a focus on improving accessibility and reliability.

    The network’s core relies on optical fiber cables, satellite links for remote regions, and wireless technologies for last-mile connectivity. Implemented under the Universal Service Obligation Fund (USOF), BharatNet adopts a Public-Private Partnership (PPP) model to ensure efficient execution and maintenance.

     

    Impact of BharatNet

     

    BharatNet has had a transformative impact on rural India, contributing to socioeconomic development in multiple ways:

    1. Digital Inclusion: The project has connected remote villages to high-speed internet, enabling access to e-governance services, online education, and telemedicine. Initiatives like the Digital India program thrive on BharatNet’s infrastructure.
    2. Economic Opportunities: With internet access, rural communities can participate in digital commerce, access financial services, and explore entrepreneurial opportunities. This has significantly boosted income generation in underserved areas.
    3. Education and Healthcare: BharatNet has enabled digital classrooms and telehealth services, bridging the resource gap in rural areas. Students and patients now have access to quality education and medical expertise from urban centers.
    4. Empowering Local Governance: Gram Panchayats use BharatNet to implement e-governance projects, improving transparency, efficiency, and citizen engagement in public services.

     

    Key Achievements and Milestones

    Internet Inclusivity in India

    Internet access is available in the country including rural areas through the Telecom Service Providers (TSPs) through wireless mobile and fixed wireline broadband. Government has taken numerous initiatives to enhance internet connectivity in India through mobile connectivity and optical fiber rollout. As a result, as of October, 2024:

    • Number of 4G Base Transceiver Station (BTS) have reached 24,96,644, spread across 783 districts.
    • India has seen the fastest rollout of 5G services in the world with 4,62,084 BTS deployed across 779 districts.
    • The cost of data has reduced drastically from Rs 269 per GB (in March 2014) to Rs. 9.08 per GB.
    • The Median mobile broadband speed has increased from 1.30 Mbps in March 2014 to 95.67 Mbps.
    • The average wireless usage of data per subscriber has increased to 22.24 GB per subscriber per month.
    • Out of 6,44,131 villages, 6,15,836 number of villages are having 4G mobile connectivity in the country.

     

    Conclusion

     

    BharatNet holds the promise of transforming rural India into a digitally empowered society. By addressing these challenges and maintaining its momentum, the initiative can pave the way for a more inclusive and connected future. BharatNet is more than an infrastructure project; it is a lifeline for millions of rural Indians aspiring to connect with opportunities beyond their immediate surroundings. With robust execution and sustained efforts, BharatNet will continue to bridge the digital divide and empower every corner of India with the transformative power of the internet.

     

    References

    https://sansad.in/getFile/loksabhaquestions/annex/183/AS329_R1XIRX.pdf?source=pqals

    https://usof.gov.in/en/usof-dashboard

    https://usof.gov.in/en/home

    https://pib.gov.in/PressNoteDetails.aspx?NoteId=151993&ModuleId=3&reg=3&lang=1

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2077908

    https://usof.gov.in/en/bharatnet-project

    https://bbnl.nic.in/

    BharatNet: Bridging the Digital Divide

    *******

    Santosh Kumar/ Sarla Meena/ Rishita Aggarwal

    (Release ID: 2086701) Visitor Counter : 129

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: 2024 Year in Review: First visit by a U.S. Secretary of State to the African Development Bank, waves of investment in the African Development Fund…

    Source: African Development Bank Group
    As the curtain falls on 2024, the African Development Bank marks the final celebrations of its 60th anniversary – six decades of promoting sustainable economic growth and reducing poverty in Africa. In 60 years, the Bank has mobilized more than USD 184 billion to support Africa’s development and growth. In total, it has financed 6,…

    MIL OSI Economics –

  • MIL-OSI Economics: Africa Investment Forum 2024 Market Days highlights Japan’s Role in Africa’s agricultural and energy revolution

    Source: African Development Bank Group

    African Development Bank President Dr. Akinwumi Adesina painted a compelling picture of the potential of Africa’s agricultural and energy transition during a plenary session at the Africa Investment Forum 2024 Market Days, highlighting the deepening Japan-Africa partnership, emphasizing how Japanese technology and innovation could help unlock them.

    He spoke on 9 December as part of two panel discussions on Africa’s agriculture and energy transition, that brought together 100 Japanese investors, showcased how digital solutions , innovative technologies and business models are transforming Africa’s business  landscape.

    “Agriculture is the place to be,” declared Dr. Adesina, highlighting Africa’s possession of 65% of the world’s remaining arable land. “You may like oil and gas, that’s fine. But nobody drinks oil, and nobody smokes gas. But everybody eats food three times a day.” With the global food and agricultural market in Africa projected to reach $1 trillion by 2030, the continent presents unprecedented opportunities for investment and innovation.

    Digital Revolution in Agriculture

    Space Shift Inc. demonstrated their groundbreaking use of satellite technology for crop monitoring in Nigeria. Chief Business Officer Tamao Tada presented how their AI-powered system combines optical and radar satellite data to provide continuous monitoring of crop growth, harvest timing predictions, and historical farming activity records – even through cloud cover. This technology is enhancing credit scoring for farmers and improving agricultural decision-making.

    AAIC Partners Africa Limited, through Director Hiroki Ishida, shared their success story in Rwanda and Tanzania, where they’ve implemented smart agriculture projects covering 1,700 hectares. Their work demonstrates how Japanese technology can transform large-scale agricultural operations in Africa through IoT solutions and satellite technology optimization.

    VunaPay’s COO, Koya Matsuno, addressed one of agriculture’s most pressing challenges through their digital platform that enables instant payments to farmers upon produce delivery. “Imagine working hard for a month and your boss tells you that you’re not going to get paid for another six months,” Matsuno illustrated, highlighting how their solution is transforming agricultural finance.

    Green Carbon Inc.’s Manager, Ryo Harada, introduced innovative approaches to generating carbon credits in agriculture. Their projects, including biochar and alternate wetting and drying (AWD) in rice fields, can reduce methane emissions by 30-50% while generating valuable carbon credits for farmers.

    Strategic Partnership Framework

    The Japan International Cooperation Agency (JICA), represented by Jin Wakabayashi, Deputy Director General for Private Sector Investment Finance, outlined their comprehensive support for agricultural development, emphasizing three key pillars for private finance window: Climate-resilient agriculture; Food security enhancement and financial inclusion facilitation.

    The African Development Bank’s Director of Private Sector Operations, Richard Ofori-Mante, highlighted successful collaborations with Japanese institutions, including a $600 million of the Enhanced Private Sector Assistance for Africa (EPSA) facility with JICA and ongoing partnerships with major Japanese corporations like Mitsubishi.

    “What I see here is what Executive Director Nomoto and I envisioned,” reflected Dr. Adesina, describing the creation of a comprehensive ecosystem supporting Japanese investment in African agriculture. This ecosystem spans agricultural technology and innovation; infrastructure development; financial services; private equity and venture capital and government support mechanisms.

    The Bank’s collaboration with MasterCard on the Community Pass program, aiming to provide 100 million African farmers with digital access to financial services and agricultural information, exemplifies this ecosystem approach.

    Green Transition and Digital Solutions

    Uncovered Fund specializes in supporting start-ups in Africa, including climate technology company and electric vehicle (EV) battery service provider, through their funds to support net zero in the continent. “Not just financing, the Uncovered Fund also provides Japanese technology to the start-ups”, explained Mr. Takuma Terakubo, CEO & General Partner.

    Hitachi Energy is also working towards clean energy transition and carbon neutral. Through its technologies and partnerships, Hitachi is implementing infrastructure projects which deliver reliable renewable energy to cities and rural areas, contributing to electrification of Africa. Mr. Bekim Tahiri, Executive & Global Sales Manager, emphasizes the importance of digitalization to make all the information visible to identify any issues to maintain their power supply and critically of investing into the Electrical Grid to successfully integrate clean energy whilst supporting access to power for the African continent.

    Mizuho, one of the global systemically important banks, has been a bridge between Africa and Asia through strong partnerships with African financial institutions. In his presentation, Mr. Junaid Belo-Osagie, Executive Director, focused on two sectors: hydrogen and clean cooking. “In terms of clean cooking, four in five Africans are exposed to harmful gases, and only 4 billion USD are required to move towards clean cooking scenario”, he added.

    The mission of the Japan Organization for Metals and Energy Security (JOGMEC) is to ensure a stable and affordable supply of energy and mineral resources. Ms. Yuri Uchida, Deputy General Manager of JOGMEC, underscored that in terms of hydrogen and ammonia sector, JOGMEC has a support system that focuses on the price gap, where they try to promote low-carbon hydrogen society.

    Nippon Export and Investment Insurance’s (NEXI) business in Africa has been growing in the past 20 years at an annual growth rate of 18%. Mr. Yuichiro Akita, General Manager, illustrated several cases including two wind power projects in Egypt and one solar power project in Kenya, where they underwrote insurances to facilitate green energy transition. “We have projects pipeline worth 5 billion USD in the coming years”, Mr. Akita emphasized.

    Catalyzing Action

    Ken Shibusawa, Vice-chairperson of Africa Project Team, Keizai Doyukai (Japan Association of Corporate Executives), brought urgency to the discussions. Moderator of the second session, he challenged his Japanese peers to move from interest to action, emphasizing that beyond the commonly discussed “cost of inaction” in sustainability, there was another critical cost: Japan’s missed opportunities in Africa. “In Japan, we have the technology, we have the people, we have the money, but what we lack is the Action,” Shibusawa noted, urging Japanese businesses to realize the cost they’re paying for future generations by not acting in Africa.

    Japan’s Long-term Commitment to Africa

    In closing remarks, Deputy Vice Minister of Finance of Japan, Daiho Fujii, underscored Japan’s long-standing commitment to African development, dating back to the country’s first participation in the African Development Fund in 1973. He highlighted Japan’s pioneering role in private sector mobilization, notably through the establishment of the EPSA at the Bank in 2006, which has provided around $9 billion to date.

    “Africa undoubtedly has huge potential to attain high growth, create jobs and build a solid economic structure for future generations,” Fujii emphasized. He particularly noted how the day’s focus on agricultural innovation and green growth addresses critical development challenges while respecting African ownership of its development path.

    The Deputy Vice Minister stressed that “it is time for us to co-create innovative solutions together with Africa,” highlighting how Japanese solutions and innovative business models presented during the session could be “real game-changers” in addressing the continent’s challenges and unleashing its potential.

    Looking ahead to TICAD 9

    With Japan’s upcoming Tokyo International Conference on African Development (TICAD 9), set to take place in Yokohama in August 2025, and the African Development Fund’s 17th replenishment negotiations on the horizon, the partnership between Japan and Africa in agricultural innovation and green growth is poised for further expansion. This momentum is evidenced by Executive Director Takaaki Nomoto’s successful mobilization of 100 Japanese participants for the Forum, up from 80 investors last year.

    Looking toward TICAD 9, Deputy Vice Minister Fujii reaffirmed Japan’s commitment: “Japan respects African ownership and will continue to encourage sustainable development driven by Africa… I believe if we work together, we can see an Africa where all people enjoy healthy and productive lives.”

    The convergence of Japanese technology, investment, and Africa’s agricultural and energy transition potentials is creating unprecedented opportunities for sustainable development and food and energy security, marking a new chapter in Japan-Africa relations.

    MIL OSI Economics –

  • MIL-OSI Australia: Boorloo Bridge now open for pedestrians and cyclists

    Source: Australian Ministers 1

    One of the most iconic structures ever delivered in Perth is now open, with thousands of walkers, runners and cyclists heading across the new Boorloo Bridge today.

    The bridge has been constructed 90 metres downstream of the existing heritage-listed Causeway Bridge, and measures six metres wide and one kilometre long.

    Stretching from Victoria Park to Point Fraser in Perth’s CBD via Heirisson Island, the new bridge will significantly enhance connectivity, safety, and amenity for approximately 3,000 pedestrians and cyclists that currently use the significantly constrained path on the Causeway Bridge.

    Despite only opening today, the iconic design of the bridge has already positioned the structure as one of the most defining landmarks on the Swan River and Perth skyline.

    The bridge features a 52-metre-high boomerang pylon on the city side and two 46-metre-high digging stick pylons on the Victoria Park side. A total of 64 steel cables help to suspend the bridge from the three pylons.

    Around 17,000 LED lights have been installed around the 64 steel cables, turning the bridge into a stunning lighting feature over the Swan River.

    The lighting will turn the bridge into a digital canvas using colour, movement, and imagery, and promote Perth and Western Australia to local, national, and global audiences.

    The area around the bridge has also been transformed with significant landscaping, including around 100,000 new plants, trees and shrubs. New seating and rest areas, as well as public art on the bridge abutments have also been completed.  

    The project has provided a critical source of local jobs, with the entire bridge structure being manufactured in Western Australia. During the construction phase, an estimated 700 local jobs have been created.

    Boorloo Bridge recognises Boorloo as the Noongar name for Perth and the design has embedded Whadjuk Noongar cultural recognition, acknowledging the Aboriginal heritage significance of Heirisson Island and the Swan River.

    Quotes attributed to Federal Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:

    “Today is a historic day for Perth, with the new Boorloo Bridge creating a more vibrant, liveable, and connected city.

    “Our Government is proud to have been a partner in such an extraordinary project and we’ll continue to invest in the infrastructure projects that help drive the economy, create jobs and set Western Australia up for the future.”

    Quotes attributed to Western Australian Transport Minister Rita Saffioti:

    “This was a once in a generation opportunity to not only deliver a desperately needed piece of critical infrastructure, but to also create an iconic structure that Western Australians can be proud of.

    “We’ve never seen a structure like this in Perth and I think the community will be blown away when they see it for the first time.

    “Not only do we have a new bridge that will serve the community for many decades to come, but we also now have a stunning new light feature that will be an iconic landmark on the Swan River.

    “Our Government will continue to invest in the infrastructure our State needs, helping drive the economy, create jobs and set Western Australia up for the future.”

    Quotes attributed to Western Australian Lands Minister and Perth MLA John Carey:

    “It is brilliant to mark the completion and opening of the new Causeway Bridge, recently named Boorloo Bridge, and this iconic infrastructure project will now provide a new gateway and entrance to Perth.

     “People that travel on the existing Causeway Bridge path know how challenging it can be, and the new Boorloo Bridge will significantly enhance connectivity, safety, and amenity.

    “The Causeway Bridge project is part of the Cook Labor Government’s revitalisation of our city, and we’re investing hundreds of millions of dollars to build new infrastructure, create jobs and support economic growth to attract more people to Perth.”

    Quotes attributed to the Assistant Minister to the Prime Minister and Federal Member for Perth Patrick Gorman:

    “The Albanese Government is delivering to make Perth a more family-friendly and beautiful city, just some of the things I know that are important to my community.

    “The 17,000 LED lights adorning the 64 steel cables, reflected on the surface of the Swan River is such a beautiful addition to our city.

    “I am so pleased to see our local values achieving national results for our community.”

    Quotes attributed to Federal Member for Swan Zaneta Mascarenhas:

    “This project has also been a testament to the local manufacturing capabilities in Western Australia, with the entire bridge structure built and manufactured here,

    creating an estimated 700 local jobs along the way.”

    Quotes attributed to Victoria Park MLA Hannah Beazley:

    “Delivery of this spectacular piece of infrastructure is a game changer for our community, ensuring Victoria Park, Matagarup (Heirisson Island) and Boorloo (Perth City) are more connected than ever before. 

    “Not only will the improved safety and amenity of Boorloo Bridge encourage more people to walk, wheel and ride across the Swan River but the structure is set to become a defining landmark that we can all be proud of. 

    “Significant landscaping works have also transformed the public areas around the bridge with about 100,000 new plants, trees and shrubs added, as well as new seating, rest areas and public art creating welcoming spaces for the community to enjoy.”

    MIL OSI News –

  • MIL-OSI Australia: Doorstop interview, Wollongong City Centre

    Source: Australian Treasurer

    STEPHEN JONES:

    I want to start by expressing on behalf of the Albanese government our deepest sympathy for the people of Germany who have lost their lives or suffered terrible injury in a terrible tragedy overnight. The mind boggles what might lead somebody to drive a car into a crowded market in the days before Christmas. It’s a tragedy and I know all Australians share their sympathy to the people of Germany. And, of course, our consular officials are busy to ensure that all Australians are safe and there’ll be more information on the matter in the course of the day. But, first and foremost, our message of sympathy goes out to the German people, particularly the families of those involved.

    Now Christmas time and particularly in the few days before Christmas, everybody is out there trying to do their Christmas shopping and get a bargain. Whenever something big like this is going on, the criminals, the fraudsters and the scammers are out as well. So the government’s sending a message to all Australians just to be careful, particularly when shopping online. We know that the scammers like to take advantage of people in a rush, spending their money, people going online perhaps for the first time and making a purchase. Scammers like to take advantage of people going online for the first time to make a purchase. So a few quick tips. Never press those blue links that you’re getting in an email or an SMS. That’s how scammers drag you off to a fake website. If something looks too good to be true, then it probably is too good to be true. Just stop, check, protect your information. Don’t give your information out to people who are calling you with unsolicited calls and just be careful online over the Christmas period.

    We know a lot of people are shopping online but a message for all of our shoppers. Bear in mind your local retailers. They’ve been doing it tough this year. If you’ve got a few dollars to spend, do some shopping at one of your local shops to ensure that we’re spreading the love around. Happy to take questions.

    JOURNALIST:

    Thank you, Stephen. Just on Germany before I go to retail spending, if that’s okay. I know that the government’s put out a travel warning for Australians in Germany and they’ve labelled this a suspected terrorist incident, what’s your message to Australian travellers in Germany right now and would you go as far as calling this out as a terrorist incident?

    JONES:

    We’re not going to get ahead of ourselves. I’ll leave it to the authorities in Germany who are doing the investigation for them to determine the motivation behind this terrible tragedy. And any Australians who are travelling in Europe, particularly in Germany at the moment, just check in with the consular information. Smartraveller is always up‑to‑date on the latest advice for people travelling in that region, but we won’t get ahead of ourselves before we start labelling the motivation behind this terrible tragedy.

    JOURNALIST:

    Thank you. Now, on retail spending, there’s the new data out that Australians are tipped to spend 2.7 per cent more this Christmas than they did last Christmas. Good news for retail outlets but definitely not for an interest rate cut. Is this extra spending what Labor really wants right now, especially heading into an election?

    JONES:

    Our thoughts are with the retailers who’ve had a really tough year and we want to ensure that they can continue to keep their doors open into next year. So, for Aussie shoppers who are bagging a bargain over the next few weeks, don’t forget your local retailers. Shop locally. Sure, you’re going to shop online as well but we want you to spread some love around your local retailers. Good news for retailers who’ve been doing it tough. But, of course, when it comes to the independent Reserve Bank, we know they tend to look through these seasonal periods. We know that every year there’s an uptick in consumption around Christmas time, as there should be. People have had a tough year. They’re looking forward to taking some time out with family and celebrating with their loved ones. We welcome that and want to ensure that people can have a great Christmas. And, as far as the Australian Government’s concerned, we’re doing our job to ensure that we’re providing cost‑of‑living support while we can while responsibly managing our spend through the Budget.

    JOURNALIST:

    Even though people are spending more this Christmas, they are doing it tough and there’s some concerns that it means they could be – if they’re not being savvy and looking at, you know, savings and sales, they could be cutting out on other things like essentials. And it’s yeah, obviously clear that Australians are still doing it tough. What would your response be to how people are feeling right now in this climate and any criticism that Labor is to blame for particularly inflation?

    JONES:

    Well, look, I think the government has really tried to balance this right to ensure that we provide cost‑of‑living support and tax relief support where we can. Had we followed the advice of Peter Dutton, we’d be in recession today. We know that Australians have saved up over the course of the year to spend a little more with their family and loved ones over Christmas time and that’s a great thing. We won’t be taking the advice of Peter Dutton who would have seen Australian retailers in an even tougher position today, Australia in recession and those million people who are in a job today who wouldn’t have been, would be out of work. And that’s not a price that we’re willing to pay for a few headlines. We want to ensure that we’re responsibly managing the economy, keeping Australians in jobs and keeping the economy out of recession and that’s been our priority.

    JOURNALIST:

    And as far as, is this the burst that businesses need right now who are struggling with, you know, rising energy costs, wages, the increasing costs everywhere they look.

    JONES:

    Look, after a tough year with retailers, I know a lot of businesses in my area and around the country are hoping to make some good money over Christmas so they can even things out a bit and keep trading in the new year, but we acknowledge it’s been a really tough time for Australian business, particularly retailers and small businesses, which is why we hope they’re going to have a profitable time over the next month or so.

    JOURNALIST:

    I understand there’s more details on the cash mandate you’re pursuing and there’s carve‑outs for bottle shops, cafés, jewellers, takeaway food and hairdressers. Can you talk me through the reasoning behind this?

    JONES:

    We know that the majority of Australians, for the majority of their purchases are using some form of tap‑and‑go digital payment but around about 13 per cent of retail transactions are still using cash and around 1.5 million Australians are using cash for over 80 per cent of their purchases. We’ll protect their right to do so, and that’s what the cash mandate’s all about. But we also know that it does impose some costs on small businesses. Most small businesses, in fact close to 99 per cent of businesses, are still accepting cash. We want to ensure that it stays that way for essential transactions. We’re consulting. We’ve put some proposals out overnight on what we think the right balance is. But what’s our objective? Ensuring that those Australians who want to use cash can. But there’s another reason for it as well. Every Australian’s had the experience where they’ve got to the cash register, the machine’s not working, their tap‑and‑go won’t work, so we need cash as a backup for when digital payments aren’t working. So whether you’re an Australian who loves using cash or you’ve got an insurance that you’ve got a payment method when electronic payment systems go down, we’ve all got an interest in ensuring this works properly.

    JOURNALIST:

    Why not have a blanket rule? Why carve out some businesses? For example, a person might be able to go to a pharmacist and have cash accepted and they could go to the next shop which is a café or a bottle shop and the business might say, ‘Sorry, we don’t accept cash.’

    JONES:

    This is a genuine consultation. We’ve put some proposals out there around where we think the boundaries are for essential versus non‑essential goods. We’re not going to have a situation where every online purchase or every small marketplace in the country is required to go back to accepting cash when they’ve been digital from the very beginning. We want to get the balance right. It’s about essential purchases. It’s about protecting the right of Australians to use cash for those essential purchases if they choose to do so.

    MIL OSI News –

  • MIL-OSI China: Quality of China’s state-owned assets improved significantly: report

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

    BEIJING, Dec. 22 — China has made significant strides in improving the quality of the assets of state-owned enterprises (SOEs), driven by deepened reforms and enhanced supervision, according to a report.

    The report on the enforcement of the Law on State-Owned Assets of Enterprises was submitted for deliberation on Sunday to an ongoing session of the Standing Committee of the National People’s Congress.

    By the end of 2023, the assets of SOEs, excluding the financial sector, totaled 371.9 trillion yuan (51.72 trillion U.S. dollars), said the report.

    Last year, the combined revenue of SOEs nationwide stood at 85.6 trillion yuan, and the total profits amounted to 4.7 trillion yuan, reflecting a nearly threefold increase from the 2009 level.

    The report attributes the achievements to the country’s efforts in deepening SOE reforms and strengthening supervision of the state-owned assets.

    The report also proposed establishing and improving the entrusted agency mechanism for state-owned enterprises and state capital.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Eighty-five local treasures to be saved and restored

    Source: United Kingdom – Government Statements

    An additional £36 million of funding to rescue and restore 85 local treasures including community centres, pubs, parks and sport centres.

    • Government funding will save at least 35 community centres, helping fix the foundations of our communities as part of the Plan for Change
    • Money will boost opportunities and help grow local economies, supporting the government’s drive for national renewal
    • This will help kickstart economic growth and rebuild Britain in a decade of renewal

    Cherished community centres are among the 85 local venues across the UK that are set to receive government support to stay open, helping to fix the foundations of our communities.

    An additional £36 million of funding has been provided to back local communities, including the rescue of at least 35 community centres, protecting vital local services, boosting opportunities for working families and supporting local economies.

    As set out in its Plan for Change, the government is committed to kickstarting economic growth and raising living standards. Thriving communities lie at the heart of a thriving economy, and the support provided by the Community Ownership Fund will inject funding where it is most needed, making change happen and bringing people together in the process.

    The projects will support the government on its path to national renewal, helping realise our regions’ huge potential while creating safer and happier streets by restoring community pride.

    Deputy Prime Minister, Angela Rayner said:

    “We are delivering on our Plan for Change by saving these vital community assets to provide important opportunities for working people and their families.

    “These projects represent what is so special about communities across the UK – bringing people of all ages together, providing vital support and giving them a sense of purpose and belonging.

    “Every project will support social causes in the community, keeping widely used services open and thriving to improve people’s health and wellbeing.”

    Minister for Local Growth, Alex Norris said:

    “These are all multi-functional spaces that do so much for local people and most of us will have fond memories in treasured places like these.

    “We’ve prioritised these grants to help preserve and upgrade what these vital places offer to their communities – whether that’s improving access to sport and education, tackling loneliness or boosting family services for parents and children.

    “This is just the start of our work to support communities and give them greater control of their assets and we’ll be setting out our full strategy next year.”

    Action4Youth, a youth charity in the South East, has been given £300,000 to refurbish the George Amey Centre in Milton Keynes, securing its future as a centre for outdoor education and supporting the charity’s work to tackle knife and gang crime.

    Chief Executive of Action4Youth, Jenifer Cameron said:

    “We are so grateful to have funding which will enable us to complete our renovation project and to ensure the future of the outdoor centre which benefits 15,000 children and young people each year.

    “We can now look forward with optimism and hope to support many more young people in future.”

    Nineteen sports clubs and leisure facilities across the country will be saved, including four historic swimming pools. These include the 1960s Portishead Lido in North Somerset – where funding will also be used to renovate the café, supporting the local economy – and one of the last tidal pools left in the country, the Victorian Shoalstone Pool in Devon.

    On the Isle of Wight, the Isorropia Foundation will receive more than £1m to purchase and renovate the Medina Valley Centre so it can provide a range of community services including mental health support, training and educational opportunities. And Elmfield Hall in Accrington will be renovated to secure its future as a location for counselling, mentoring and employment courses.

    The MacMillan Hub in Edinburgh will be backed with £1.7m so it can continue to promote culture, learning and training opportunities, work and well-being in and around the town centre, and expand its café. And more than £1m will be used to restore the Higher Woodhill Viaduct so the East Lancashire Railway can continue to deliver a heritage railway experience, boosting the local tourism industry in the process.

    To tackle loneliness and support rural communities, £3.8 million will go to eight parks and eight pubs, including £300,000 to help buy back a popular village pub in North Yorkshire – The Punch Bowl Inn. £300,000 will also be used to renovate a 200-year-old countryside pub in Gwyned, Wales – Tafarn y Plu. This funding will back local businesses, create jobs and drive growth while restoring community pride.

    The government is also developing proposals for delivering on its manifesto commitment to introduce a stronger ‘Right to Buy’ and take over important community assets so they can determine their future in a meaningful way. This will be a genuine shift so local people feel far more control, power and agency in the places they live.

    Further information

    In Scotland, £5 million will be awarded to 11 projects including over £1.7 million to refurbish and expand a community arts centre in Edinburgh – the MacMillan Hub.

    In Northern Ireland, £3.7 million will be awarded to 10 projects including £800,000 to expand the building and outdoor spaces of an autism and additional needs charity in Belfast – Sólás. This will help host more after-school clubs and youth programmes.

    In Wales, £2.1 million will be awarded to 7 projects including £400,000 to create a museum for the Welshpool & Llanfair Light Railway, built in 1903 to link farming communities to the town.

    In England, almost £25.5 million will be awarded to 57 projects including:

    • 11 projects in the South West worth £4.7 million
    • 8 projects in the North West worth almost £4.6 million
    • 10 projects in the East Midlands worth almost £3.9 million
    • 4 projects in London worth almost £3.2 million
    • 8 projects in the South East worth almost £3 million
    • 6 projects in Yorkshire and the Humber worth almost £2.2 million
    • 5 projects in the West Midlands worth over £1.6 million
    • 3 projects in the East of England worth over £1.7 million
    • 2 projects in the North East worth over £675,256

    These projects were applicants to the now closed Community Ownership Fund.

    The government has also implemented new High Street Rental Auction regulations, providing local communities and businesses with a right to rent premises that have long sat vacant, casting a cloud over the local area. The power will help to provide new shops and community spaces, supporting businesses and communities to access the high street and create vibrant, bustling spaces they can be proud of.  

    The government will also support high streets by strengthening Business Improvement Districts which have helped to improve town and city centres across the United Kingdom for 20 years, while ensuring they operate to high standards and are accountable to their communities. 

    The English Devolution White Paper published on 16 December set out ambitious plans which demonstrate this commitment to communities and we will announce more details in 2025, including on the community ownership of assets.

    Updates to this page

    Published 23 December 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Local treasures in Wales to be saved and restored

    Source: United Kingdom – Government Statements

    Over £2 million will be awarded to seven local treasures in Wales including community centres, music venues and leisure centres.

    • Seven local treasures in Wales including community centres, music venues and leisure centres will be saved and restored thanks to prioritised funding from the UK Government 
    • UK Government funding will protect local amenities that keep communities thriving, helping fix the foundations of our communities as part of the Plan for Change 
    • This will help kickstart economic growth and rebuild Britain in a decade of renewal

    Over £2 million will be awarded to 7 much-loved local places in Wales, so they can stay open to keep their communities thriving. 

    This includes £1 million to save 4 spaces in Wales, including the Tafarn y Plu pub in Gwynedd, The Bunkhouse music venue in Swansea, a museum in Powys and a community shop in Gwynedd. This funding will be used to refurbish, renovate and secure the future of each of these buildings, allowing them to offer a diverse programme of events and activities including live music, well-being sessions and educational opportunities. 

    As set out in its Plan for Change, the UK government is committed to kickstarting economic growth and raising living standards. Thriving communities lie at the heart of a thriving economy, and the support provided by the Community Ownership Fund will inject funding where it is most needed, making change happen and bringing people together in the process.  

    The highest single award in Wales – £400 thousand – will also go to saving Llanfair Light Railway station and Cloverlands car model museum. This project will host a museum, archives, and a shared community space for residents and visitors to use. The funding will allow the community building to provide a visitor centre in which tours will learn the context to the railway station and its operations.  

    Minister for Local Growth, Alex Norris said: 

    “These are all multi-functional spaces that do so much for local people and most of us will have fond memories in treasured places like these. 

    “We’ve prioritised these grants to help preserve and upgrade what these vital places offer to their communities – whether improving access to sport, tackling loneliness or boosting family services for parents and children.”  

    Projects also set to receive money in Wales include: 

    • £300,000 to renovate Eveswell Community Centre in Newport. The centre will provide new and improved facilities for local families to host more activities like family groups, play groups, a Lego club, craft classes and after school youth groups. 

    • £300,000 to refurbish the Pentre Comrades club. The transformed building will provide the community a central hub to use for socialising and learning with facilities including a pub, shop, café, community garden, and kitchen spaces. 

    • £299,000 to renovate and refurbish Caerphilly Rugby Football Club. The space will provide new and improved facilities for their rugby development programmes as well as space to host events like fundraisers, local festivals and educational workshops. 

    Welsh Secretary, Jo Stevens said:

    “Congratulations to these fantastic community projects in Wales. Over £2 million is being spent by the UK Government to make sure that these special places are refurbished and improved so they can provide facilities for local people to come together. 

    “All across Wales there are brilliant people who give back to their communities. I’d like to thank them for all that they do and the UK Government is proud to be able to support them.”  

    This UK-wide funding prioritised by the Ministry of Housing, Communities and Local Government will help protect these cherished places from closure and disrepair, preserving popular spots for local people and visitors. 

    Altogether £36 million has been awarded to 85 projects across the UK.  

    The projects will support the government on its path to national renewal through its missions in the Plan for Change – from breaking down barriers to opportunity to kickstarting economic growth and creating safer streets by restoring community pride.

    Updates to this page

    Published 23 December 2024

    MIL OSI United Kingdom –

  • MIL-OSI China: China, Italy reiterate commitment to deeper collaboration, mutual prosperity

    Source: China State Council Information Office

    Chinese and Italian officials, alongside business leaders, have reaffirmed their commitment to deeper collaboration and mutual prosperity during a launch ceremony of the 2024 Development Report on Chinese Enterprises in Italy.

    At the launch event on Friday in Milan, the capital of the Lombardy Region, Yan Dong, president of the Chinese Chamber of Commerce in Italy (CCCIT), highlighted the significant contributions of Chinese enterprises to Italy’s investment, taxation, and employment, despite challenges like protectionist policies and regulatory constraints.

    Emphasizing that the report offers recommendations to improve Italy’s business environment for its in-depth analysis of key areas such as employment, operations and regulatory challenges, Yan noted that “we hope this report will enhance mutual understanding and foster deeper bilateral cooperation.”

    The report, based on survey data from 92 member companies, is the first comprehensive study of Chinese businesses in Italy. It details their operational status, contributions and challenges.

    Chinese Consul General in Milan Liu Kan also praised the report as a critical resource for policymakers and business leaders.

    Reaffirming China’s commitment to peaceful development and mutual prosperity, Liu said “China stands ready to share its development opportunities with Italy and the world, safeguard global free trade, and ensure the stability of industrial and supply chains.”

    Echoing this sentiment, Andrea Tabella, a representative from the Ministry of Enterprises and Made in Italy, reiterated the ministry’s commitment to stronger collaboration with the CCCIT to unlock new opportunities for mutual growth. He underscored that the report would help guide support for Chinese enterprises in Italy.

    Raffaele Cattaneo, secretary general of the Lombardy Region, has highlighted the region’s strategic importance in China-Italy economic relations, noting that the region attracts over 50 percent of Chinese investments in Italy and that more than 60 percent of surveyed companies plan to expand their investments there in the next three years.

    Founded in 2021, the CCCIT is the sole officially recognized organization representing Chinese enterprises in Italy. It has over 120 members spanning finance, telecommunications, technology, and manufacturing.

    The launch event drew approximately 150 participants, including representatives from Chinese and Italian businesses, trade associations, and government institutions.

    MIL OSI China News –

  • MIL-OSI New Zealand: Save the Children 2024 IN REVIEW: Why three child killer diseases rose globally this year

    Source: Save the Children

    Three child-killer diseases – dengue, cholera, and mpox – witnessed major resurgences in 2024 fuelled partly by climate crises and conflict, with these illnesses likely to cause significant strains on communities in 2025 without more focused global attention, said Save the Children.
    More than 13,600 people, including children, are suspected or confirmed to have died from these three diseases this year, with cases of dengue and mpox reaching record highs. While there was a slight global decline in cases of cholera, the number of fatal cases of the virus jumped 126% from 2023.
    It was a horror year for dengue fever in 2024, with cases of the mosquito-borne virus reaching the highest number on record at 13.3 million – more than double the 6.5 million cases in 2023 which was itself a record high [1]. Increased urbanisation and changes in climate and temperatures have fuelled the mosquitoes that spread the virus. The World Health Organization estimates that 4 billion people are currently at risk of dengue and related viruses and this will rise to 5 billion by 2050.
    There were nearly half a million cases of cholera this year, with 3,432 deaths recorded by the end of September, when most recent data was available [2]. While the number of cases in 2024 is 16% lower than last year, there has been a 126% spike in deaths, according to the WHO. The increase in mortality is likely due to the location of the outbreaks in conflict-affected areas where access to healthcare is severely compromised, and regions experiencing flooding that has damaged critical infrastructure.
    This year saw a major increase in cases and fatalities from the mpox virus, which was declared a public health emergency of international concern in August 2024 by both the World Health Organization and the Africa Centre for Disease Control. This followed a surge of mpox infections in the Democratic Republic of Congo and surrounding countries in Africa, with a major portion of cases and deaths being children, and a new circulating variety (known as a ‘clade’) of mpox a particular concern to children.
    Beauty, 17, lives with her sister and her parents in an informal settlement in Lusaka, Zambia. Her community was hit by a major cholera outbreak earlier this year. Beauty said:
    “Cholera, this current outbreak, has really impacted me and my family because my father had to stop work because of the outbreak, and my mother – she’s a teacher – she also had to stop work for the same issue. It was challenging for us in terms of finances and surviving, but, to God’s grace, we’re surviving. It’s important to have access to clean water because most of the diseases that happen, they happen because people drink contaminated water. So, if you drink clean water…then you can prevent yourself from getting diseases like cholera.”
    Dr Revati Phalkey, Global Health and Nutrition Director, said:
    “Currently, about half of the world’s population is not fully covered by essential, quality, affordable health services – denying them their right to health committed as part of universal health coverage ambitions. Health systems are under enormous pressure to deliver universal health coverage with the majority of countries experiencing worsening or no significant change in service coverage since the launch of the sustainable development goals in 2015.
    “We need greater global investments to build strong health systems that are able to deliver essential health services especially vaccines and essential medicines while responding to global health emergencies, including emerging issues like mpox.
    “It is time for governments and the international community to step up and ensure all children are protected against disease and have access to adequate health services when they need them and where they need them. Every child has the right to survive and thrive and it is our collective responsibility to deliver on this.”
    While these headline grabbing illnesses saw rapid increases in cases or death rates in 2024, pneumonia remains the leading infectious cause of death among children under 5, killing about 500,000 children a year.
    However, new estimates from the Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) show that the number of children dying from pneumonia dropped sharply from 693,000 in 2019 to 502,000 in 2021, the lowest number ever recorded. This 28% reduction is being attributed to the impact of COVID-19 restrictions and underscores the power of preventing the spread of infection. That said, the impact of the climate crisis is likely to increase respiratory diseases such as pneumonia once again, affecting children the most impacted by inequality and poverty.
    Meanwhile, children are particularly vulnerable to dengue fever because their immune systems are weaker than adults and they tend to play outside where there is less protection against the mosquitos. Children under five are at particular risk of developing dehydration and shock from dengue if they contract the illness, and children are most impacted if the illness incapacitates or kills their parents and other caregivers.
    Mpox causes fever, rash and lesions all over the body, severe headaches and fatigue, with some children developing respiratory problems and difficulty swallowing. In severe cases, mpox can lead to sepsis, a life-threatening response to infection that requires immediate specialist medical attention.
    Cholera takes a heavier toll on young children, especially those under the age of 5 who are at higher risk of severe dehydration and death during cholera outbreaks.
    Around the world, Save the Children provides public healthcare for children and their families, including treatment for diseases like dengue, cholera and mpox, and works with schools and communities to improve awareness on how to prevent infection.
    • [1] Total number of dengue-related deaths globally in 2024 – 9600 see [2]; Total number of cholera and acute water diarrhea deaths in 2024 – 4018 see [3]; Total number of Mpox deaths in 2024 – 57 see [4]; Total number of deaths of the three diseases in 2024 – 13,675.
    • [2] According to the WHO Global Dengue Surveillance, since the beginning of 2024, over 13.3 million dengue cases and over 9600 dengue-related deaths have been reported globally. https://worldhealthorg.shinyapps.io/dengue_global/
    • [3] According to the WHO, from 1 January to 27 October 2024, a cumulative total of 486 760 cholera and acute watery diarrhoea cases and 4018 deaths were reported from 33 countries across five WHO regions. While the number of cases reported in October 2024 is 42% lower than the same period in 2023, the number of deaths has increased by 54% – reflecting severe response challenges in outbreak settings [ https://www.who.int/publications/m/item/multi-country-outbreak-of-cholera–external-situation-report–20—20-november-2024]
    • [4] According to the WHO, as of 1 December 2024, in Africa there were 13 171 confirmed cases of Mpox, including 57 deaths reported by 20 countries. https://worldhealthorg.shinyapps.io/mpx_global/

    MIL OSI New Zealand News –

  • MIL-OSI China: Winter tourism, sports hit peak stride nationwide

    Source: China State Council Information Office

    Tourists enjoy a ride on an ice slide at the Harbin Ice and Snow World on Saturday. [Photo/Xinhua]

    Winter tourism and sports continue to heat up in China, with temperatures in the north having dropped to the freezing point or below, while some overseas ice and snow destinations are also enjoying the spillover from Chinese people’s strong demand for winter activities.

    Some online travel agencies have given encouraging reports, showing that winter tourism products have seen more bookings as frostier weather settles in. The travel portal Trip.com Group said that winter tourism bookings began to increase in late November, with searches for such tours remaining popular on the platform this month.

    Li Shengwen, a manager at travel portal Tuniu, said she noticed that bookings for winter sports such as skiing and ice-skating have witnessed rapid growth since late October, and that demand for these products has been especially high in December.

    Traditional domestic winter tourism destinations such as Harbin, in Northeast China’s Heilongjiang province, and Northwest China’s Xinjiang Uygur autonomous region are top choices for travelers for their fairy tale-like snow views and good facilities for skiing enthusiasts, according to travel agencies.

    Last week, China Railway Shenyang Group operated its first special winter tourism train of the year. About 210 travelers from the nation’s eastern and southern provinces will experience snow scenery during their nine-day train trip, which began in Shenyang, the capital of Northeast China’s Liaoning province.

    Experts and industry insiders said that travelers, especially young people, are increasingly interested in winter sports, in addition to appreciating views of ice and snow, thanks to the public’s growing awareness of winter sports since the 2022 Beijing Winter Olympics.

    Ma Rui, a marketing director of Wu Shang Bonski, a company that operates ski domes and offers ski training and education, has noticed that some indoor ski facilities in central and southern provinces with milder climates — such as Hubei and Guangdong — have experienced brisk business in recent months.

    “The colder the weather, the stronger the desire that people have for skiing,” she said, adding that people living in southern or central provinces, places that don’t often get snow due to their milder climates, also want to enjoy winter activities, but might not be willing to travel a long distance to winter tourism destinations.

    “Under such circumstances, some travelers or winter sports fans choose to experience skiing at indoor domes, which is convenient and provides stable running ski tracks in all seasons,” she said.

    Some overseas winter tourism destinations and travel products have also seen increasing searches and bookings at Chinese travel portals, as many travelers seek diversified winter tourism or sports experiences.

    Qi Chunguang, vice-president of Tuniu, said that while northeastern provinces remain the most sought-after winter tourism destinations for Chinese travelers, overseas winter destinations like Japan’s Hokkaido have also gained popularity on the platform because of quality ski resorts and hot springs and, in the case of Hokkaido, exotic Japanese cultural vibes.

    He said that winter tour products for travel to Nordic countries and for cruise trips to Antarctica during the coming Spring Festival holiday — which begins in late January — have been sold out on the platform.

    Qi also noticed that more travelers have begun to try winter sports events like skiing or ice-skating during sightseeing trips.

    “About half of current winter tourism bookings by our users to northeastern provinces for the Spring Festival holiday… include skiing,” he said, adding that people between the ages of 26 and 35 are the major consumers of skiing-related products at the platform.

    China has made continuous efforts to invigorate the winter economy. Under a recent guideline by the State Council, China’s Cabinet, the nation will generate a new growth point in the winter economy by integrating the development of winter sports, winter tourism and winter gear and facilities. The nation is aiming for its winter economy to reach 1.2 trillion yuan ($164.5 billion) by 2027 and 1.5 trillion yuan by 2030.

    MIL OSI China News –

  • MIL-OSI China: Private sector gaining strong legal support

    Source: China State Council Information Office

    A worker is seen at a workshop of a refrigeration equipment company in Jinzhou city, North China’s Hebei province, Sept 19, 2023. [Photo/Xinhua]

    Chinese lawmakers are deliberating a draft of the country’s first law specifically focusing on the private sector’s development and protection, aiming to bolster the private economy through legal norms amid strategic reforms to optimize the business environment.

    The draft, which comprises nine chapters and 78 articles, covers eight main aspects, including fair competition, improving the investment and financing environment, and scientific and technological innovation. It was submitted to an ongoing session of the Standing Committee of the National People’s Congress, the country’s top legislature, for deliberation on Saturday.

    Upon approval, the draft, which elevates crucial measures for promoting private sector growth with legal norms, will be conducive to creating a law-based environment that is favorable for economic growth, including the growth of the private sector, said He Rong, minister of justice.

    The official drafting process began in February, when the Ministry of Justice, the National Development and Reform Commission and the Legislative Affairs Commission of the NPC Standing Committee jointly organized a legislative seminar on the formulation of the law, gathering opinions and suggestions from representatives of private enterprises and experts.

    The issuance of the private economy promotion law was also mentioned as a key task for 2025 during the Central Economic Work Conference held earlier this month.

    Bi Jiyao, a researcher at the Chinese Academy of Macroeconomic Research, said: “It is important to improve the business environment and offer more opportunities for entrepreneurs in the private sector to boost their confidence. This, in turn, will play a proactive role in stabilizing economic growth and ensuring stable employment.”

    China has consistently been refining its legal frameworks to boost private economic development since the start of the year, with a focus on attracting investment, promoting equitable market access, and strengthening financial support across various regions and departments. Officials and experts said that these policy adjustments have started to yield tangible results, bolstering the resilience of China’s private enterprises and fostering a noticeable trend of market recovery.

    Data from the State Administration for Market Regulation shows that as of the end of September, the total number of registered private enterprises nationwide surpassed 55 million, accounting for 92.3 percent of all enterprises. In the first three quarters of this year, 6.19 million private enterprises were newly registered across the country, according to the administration.

    Lin Song, dean of the Business School at the Central University of Finance and Economics, said the increasing numbers of newly registered private enterprises, patents, and research and development expenditures serve as evidence of the overall favorable business environment for private enterprises.

    “Still, we need to improve a high-quality fair competition system, transform the regulatory approach to the private economy sector, integrate the private economy into the overall regional development ecosystem, further stimulate private investment vitality, and promote the sustainable development of the private economy,” Lin said.

    The draft law emphasizes the implementation of a nationwide unified market access negative list system, saying that aside from areas on the negative list, various economic organizations, including private entities, will have equal access in accordance with the law.

    It also noted that bidding and government procurement must not restrict or exclude private entities.

    Meanwhile, as the ongoing technological revolution and industrial transformation are spurring a wave of emerging technologies, industries and business models, and creating fresh demand that offers new growth opportunities for the private economy, the draft law supports the active participation of private economic entities in national scientific and technological projects. It also supports empowering capable private entities to spearhead major technological advancements.

    The draft also advocates including private economic entities in major national scientific research infrastructure and promoting collaboration across industry, academia and research institutes, while strengthening the protection of their intellectual property rights.

    “China has broadened market access for the infrastructure sector, allowing private companies to participate equally, which effectively expands the scope of investment for many private companies,” said Bi, from the Chinese Academy of Macroeconomic Research.

    MIL OSI China News –

  • MIL-OSI Australia: Implementing a minimum tax for multinationals

    Source: Australian Treasurer

    The Albanese Government is continuing to take action so that multinationals pay their fair share of tax in Australia.

    Today the Government has published subordinate legislation in the form of Ministerial Rules as part of Australia’s implementation of a 15 per cent global minimum tax and domestic minimum tax for large multinationals.

    To pay for the things that matter most to Australians like Medicare, pensions and housing, it’s important that multinationals operating in Australia pay their fair share of tax and that’s what these Rules help achieve.

    Multinational companies making a profit in Australia should pay tax on those profits in Australia.

    The publication of the Rules follows the recent passage through Parliament and Royal Assent of the primary legislation to implement the global and domestic minimum taxes.

    Minimum taxes are a key part of a coordinated global approach by the OECD to put a floor on tax competition and establish a fairer domestic and international tax system.

    From 1 January 2024, there will be a 15 per cent global minimum tax and domestic minimum tax for multinational enterprise groups with an annual global revenue of at least EUR 750 million (approximately A$1.2 billion).

    The global minimum tax will enable Australia to apply top‑up tax on a resident multinational parent or subsidiary company where the group’s income is taxed below 15 per cent overseas.

    The domestic minimum tax will enable Australia to apply top‑up tax for any low‑taxed Australian income.

    The Rules provide details on how multinationals should calculate any top‑up tax.

    The Rules will also ensure that future administrative guidance released by the OECD can be incorporated in a timely and efficient manner.

    An international tax system where big multinationals pay their fair share is better for small businesses, better for taxpayers and better for the economy.

    MIL OSI News –

  • MIL-OSI China: Employers encouraged to set up parent-friendly jobs

    Source: China State Council Information Office 2

    Shanghai has encouraged employers to set up “parent-friendly job posts” and adopt measures that facilitate a balance between work and family responsibilities, creating a supportive environment for parenthood in the workplace.
    “Parent-friendly job posts” should have flexible working hours and working methods, and job applicants should be parents with a child or children under the age of 12, the Shanghai Human Resources and Social Security Bureau said on Friday when introducing the policy regarding implementation of the pilot program.
    Such posts will operate under a flexible work system, allowing employers to implement flexible start and end times, remote or home-based work, flexible leave policies, and performance assessments to facilitate employees in managing both work and parenthood responsibilities.
    Government departments will guide industries, such as manufacturing, hospitality, food services and housekeeping services, as well as emerging sectors like the platform, digital, cultural and creative economies and the elderly care economy, to unveil such job opportunities in the first phase of the program.
    To support the initiative, the city will establish a list of employers offering such jobs.
    “Also, labor unions at all levels are tasked with assisting such employers in creating parent-friendly workplaces, including pushing forward the construction of breastfeeding rooms and organizing summer and winter holiday programs as well as after-school childcare services,” the policy document said.
    Similar policies have been introduced in various regions across the country, but in those cases it was clearly stipulated that such posts were provided to female applicants only, as they were called “mom’s job posts”. Working hours for such jobs are flexible, and workers can have time to take children to and from school. In addition, such workers do not need to work overtime.
    For example, in January, the city of Guangzhou, Guangdong province, announced a list of 58 employers that have set up such posts. In June, Xingtai, a city in Hebei province, introduced the new employment model of “mom’s job posts”, under which the city has helped more than 25,000 women find employment.
    Earlier this month, Qingdao, Shandong province, released the city’s first list of “mom’s job posts”, involving 190 jobs mainly in the catering and domestic services sectors.
    Zhang Lei, deputy director of Peking University’s Institute of Population Research, said that such posts help women achieve a balance between family and work.
    However, the jobs “must improve in both quantity and quality, as the current setting of such posts may accelerate the loss of human capital of educated women”, she said.
    Regarding the Shanghai initiative, some have said it stands out for not restricting such job opportunities to female applicants. Recognizing that family and childcare responsibilities are not solely the domain of women, the policy aims to address work-life balance issues for all parents, they said.
    “So I hope that more jobs involving a lot of male workers will be on this list, so that this initiative is not set up to once again marginalize women from the workplace,” said Zhao Jing, a mother of a 5-year-old child. Zhao has stopped working several times after giving birth due to parenting responsibilities and unsatisfactory work content.
    Such moves regarding parent-friendly workplaces have been praised by some women who believe that these initiatives provide a larger chance for mothers to return to the workforce.
    A survey conducted last year by a research institute affiliated with the All-China Women’s Federation in Beijing and Shanghai, as well as Guangzhou and Shenzhen in Guangdong province, found that, among respondents, 82.7 percent of stay-at-home mothers under the age of 40 had plans to return to work.

    MIL OSI China News –

  • MIL-OSI China: Quality of China’s state-owned assets improved significantly

    Source: China State Council Information Office

    China has made significant strides in improving the quality of the assets of state-owned enterprises (SOEs), driven by deepened reforms and enhanced supervision, according to a report.

    The report on the enforcement of the Law on State-Owned Assets of Enterprises was submitted for deliberation on Sunday to an ongoing session of the Standing Committee of the National People’s Congress.

    By the end of 2023, the assets of SOEs, excluding the financial sector, totaled 371.9 trillion yuan (51.72 trillion U.S. dollars), said the report.

    Last year, the combined revenue of SOEs nationwide stood at 85.6 trillion yuan, and the total profits amounted to 4.7 trillion yuan, reflecting a nearly threefold increase from the 2009 level.

    The report attributes the achievements to the country’s efforts in deepening SOE reforms and strengthening supervision of the state-owned assets.

    The report also proposed establishing and improving the entrusted agency mechanism for state-owned enterprises and state capital.

    MIL OSI China News –

  • MIL-OSI China: China, Italy reiterate commitment to deeper collaboration

    Source: China State Council Information Office 3

    People view an autopilot minibus named “ADone” at the 2024 Turin Auto Show in Turin, Italy, Sept. 13, 2024. The 6-seat minibus was the latest product of a collaboration between the Chinese developer Guizhou Hankaisi Intelligent Technology Co., Ltd. (PIX Moving) and Italian mobile travel solution provider Tecnocad. [Photo/Xinhua]

    Chinese and Italian officials, alongside business leaders, have reaffirmed their commitment to deeper collaboration and mutual prosperity during a launch ceremony of the 2024 Development Report on Chinese Enterprises in Italy.

    At the launch event on Friday in Milan, the capital of the Lombardy Region, Yan Dong, president of the Chinese Chamber of Commerce in Italy (CCCIT), highlighted the significant contributions of Chinese enterprises to Italy’s investment, taxation, and employment, despite challenges like protectionist policies and regulatory constraints.

    Emphasizing that the report offers recommendations to improve Italy’s business environment for its in-depth analysis of key areas such as employment, operations and regulatory challenges, Yan noted that “we hope this report will enhance mutual understanding and foster deeper bilateral cooperation.”

    The report, based on survey data from 92 member companies, is the first comprehensive study of Chinese businesses in Italy. It details their operational status, contributions and challenges.

    Chinese Consul General in Milan Liu Kan also praised the report as a critical resource for policymakers and business leaders.

    Reaffirming China’s commitment to peaceful development and mutual prosperity, Liu said “China stands ready to share its development opportunities with Italy and the world, safeguard global free trade, and ensure the stability of industrial and supply chains.”

    Echoing this sentiment, Andrea Tabella, a representative from the Ministry of Enterprises and Made in Italy, reiterated the ministry’s commitment to stronger collaboration with the CCCIT to unlock new opportunities for mutual growth. He underscored that the report would help guide support for Chinese enterprises in Italy.

    Raffaele Cattaneo, secretary general of the Lombardy Region, has highlighted the region’s strategic importance in China-Italy economic relations, noting that the region attracts over 50 percent of Chinese investments in Italy and that more than 60 percent of surveyed companies plan to expand their investments there in the next three years.

    Founded in 2021, the CCCIT is the sole officially recognized organization representing Chinese enterprises in Italy. It has over 120 members spanning finance, telecommunications, technology, and manufacturing.

    The launch event drew approximately 150 participants, including representatives from Chinese and Italian businesses, trade associations, and government institutions.

    MIL OSI China News –

  • MIL-OSI Banking: Money Market Operations as on December 20, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 8,198.97 6.62 5.75-7.10
         I. Call Money 881.85 6.27 5.75-6.90
         II. Triparty Repo 5,477.15 6.59 6.25-6.77
         III. Market Repo 53.47 6.20 6.20-6.20
         IV. Repo in Corporate Bond 1,786.50 6.88 6.85-7.10
    B. Term Segment      
         I. Notice Money** 10,175.64 6.78 5.10-7.00
         II. Term Money@@ 267.00 – 7.00-7.15
         III. Triparty Repo 4,07,739.70 6.71 6.50-6.80
         IV. Market Repo 1,46,635.19 6.71 5.90-6.90
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Fri, 20/12/2024 7 Fri, 27/12/2024 1,50,004.00 6.52
         (b) Reverse Repo          
    3. MSF# Fri, 20/12/2024 1 Sat, 21/12/2024 4,580.00 6.75
      Fri, 20/12/2024 2 Sun, 22/12/2024 0.00 6.75
      Fri, 20/12/2024 3 Mon, 23/12/2024 258.00 6.75
    4. SDFΔ# Fri, 20/12/2024 1 Sat, 21/12/2024 56,377.00 6.25
      Fri, 20/12/2024 2 Sun, 22/12/2024 0.00  6.25
      Fri, 20/12/2024 3 Mon, 23/12/2024 8,467.00  6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       89,998.00   
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 13/12/2024 14 Fri, 27/12/2024 75,004.00 6.52
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,459.41  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     85,993.41  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     1,75,991.41  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on December 20, 2024 9,93,519.37  
         (ii) Average daily cash reserve requirement for the fortnight ending December 27, 2024 9,66,084.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ December 20, 2024 1,50,004.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on November 29, 2024 1,04,225.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1755

    MIL OSI Global Banks –