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Gold prices recover on lower level buying NEW DELHI, June 2: Gold prices recovered on the bullion market today on revival of buying by local parties at prevailing lower levels and closed with..........more CAG points out wasteful expenditure by Rajasthan JAIPUR, June 2: Poor planning and monitoring, among other reasons, caused an "avoidable,unfruitful and wasteful" expenditure of Rs.47 crores for.....more India’s
foreign MUMBAI, June 2: India’s foreign exchange reserves were down by USD five million to USD 42,824 million for week ended....more |
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UNSC approves UNITED NATIONS, June 2: In a rare show of unity, the UN Security Council extended the Iraq humanitarian program ........more Private
investment in CHANDIGARH, June 2: Civil Aviation State Minister Chaman Lal Gupta today said that to provide better facilities, the Government.....more Millennium
study VARANASI, June 2: The Central Government is conducting a" Milennium Study" on the state of Indian agriculture, past experiences and future challenges. .......more |
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CAG points out wasteful expenditure by Rajasthan JAIPUR, June 2: Poor planning and monitoring, among other reasons, caused an "avoidable,unfruitful and wasteful" expenditure of Rs.47 crores for the rajasthan government, according to the Comptroller and Auditor General (CAG) of India. The unfruitful expenditure was found under 15 heads test-checked by the CAG. Unfruitful expenditure of Rs.18.94 crores, CAG’s latest report said, resulted from the failure of the Medical and Health Department in ensuring timely completion and handing over of sub-health centre buildings. While 646 buildings were lying incomplete, another 436 buildings were not handed over even after their completion. Consturction of 45 buildings was yet to be started, the report said. Similarly not ensuring timely completion and handing over of hostel buildings for students belonging to scheduled castes and scheduled tribes under centrally sponsored scheme by the Avas Vika Sansthan resulted in unfruitful expenditure of rs.5.78 crores and blocking of another Rs.2.29 crores, it said. Besides, unfruitful expenditure of Rs.4.26 crores and blocking of Rs.2.92 crores resulted from failure of Tribal Area Development Department in ensuring timely completion of another 16 hostel buildings by Avas Vikas Sansthan which was winded up in March 1999. CAG reported that failure of Public Health Engineering Department (PHED) in preparing technical estimates in time, acquiring land for sewerage treatment plant and efficiently planning and monitoring Mahamandir Sewerage Scheme in Jodhpur led to the scheme remaining incomplete for more than seven years even after incurring an expenditure of Rs.4.75 crores along with other irregularities amounting to Rs.1.39 crores. Poor planning, monitoring and non-posting of staff on fodder seed production farm at Mohangarh in Jaisalmer district resulted in wasteful expenditure of Rs.37.69 lakhs on civil works and pay and allowances of the staff of the farm where improved variety of seeds could not be produced due to posts remaining vacant and non-availability of water. Lack of proper examination of initial proposals and clearing without assessing the return on investment and productivity of sheep breeding farm at Fatehpur in Sikar district led to termination of contract and infructuous expenditure of Rs.24.4 lakhs. The failure of Sheep and Wool Department to develop reserve pasture land at Jamdoli for the sheep breeding farm in Jaipur for producing green fodder resulted in unfruitful expenditure of Rs.13.37 lakhs which consequently led to purchase of more dry fodder. Improper planning and ignoring the observations of field testing unit led to water course of Kanakpura minor canal lying incomplete and in damaged condition resulting in unfruitful expenditure of Rs.14.33 lakhs, the CAG report said. Awarding of earth work excavation, bentonite treatment and cement concrete lining of RD 45 to RD 60 of Gadra Road sub branch of the Indira Gandhi canal without test reports of soil led to avoidable expenditure of Rs.84.39 lakhs which is likely to increase to Rs.1.04 crore on completion. Improper planning also led to unfruitful expenditure of Rs.73.18 lakhs on construction of approach drain of 1350 metre length from approach channel to Bisalpur reservoir. Not ensuring availability of forest land before sanction and commencement of construction of mudasil minor canal in Banswar district resulted in unfruitful expenditure of Rs.92.09 lakhs besides denial of irrigation and drinking water facilites to tribals. Excavation and widening of baran weir feeder channel at a cost of Rs.36.98 lakhs proved unproductive as the work was lying incomplete pending inquiry to ascertain quality, payments made and necessity of the work. Similarly starting of construction of submersible bridge at Sonarmata on Jhakham river in anticipation of adequate funds led to works lying incomplete and rendering expenditure of Rs.20.2 lakhs unfruitful. (PTI) |
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India’s foreign currency reserves down by USD 5 mln MUMBAI, June 2: India’s foreign exchange reserves were down by USD five million to USD 42,824 million for week ended May 25, 2001. The Foreign Currency Assets (FCA) declined to USD 40,125 million, a fall of USD five million, in the reporting week, according to the Reserve Bank of India’s weekly statistical supplement here today. The foreign currency assets expressed in US dollar terms include the effect of appreciation/depreciation of non-US currencies such as Euro, Sterling and Yen. Loans and advances by RBI to Central Government rose by Rs 4,888 crore in the week ended May 25 to Rs 13,413 crore while that to the State Governments increased by Rs 570 crore to Rs 3,794 crore, the apex bank said. The aggregate deposits in case of scheduled commercial banks grew by Rs 6,981 crore (0.7 per cent) at Rs 9,98,299 crore in the fortnight ended May 18, RBI said. The bank credit in the reporting fortnight stood at Rs 5,20,329 crore, a rise of Rs 2,769 crore (0.5 per cent). The food credit increased by Rs 3,339 crore to Rs 46,436 crore while the non-food credit declined by Rs 571 crore to Rs 4,73,893 crore, RBI added. (PTI). |
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UNSC approves extension of Iraq oil-food plan UNITED NATIONS, June 2: In a rare show of unity, the UN Security Council extended the Iraq humanitarian program for a month to give itself time to revamp decade-old sanctions against Baghdad. A resolution, approved by a 15-0 vote yesterday, would extend the UN-Iraq "oil-for-food" program, which expires on sunday, for 30 days instead of the usual six months. This would allow Council members to continue negotiations on the new US-British plan that would lift restrictions on civilian goods imported by Iraq but tighten controls on military-related supplies and smuggling. In a surprise move, the United States announced it would release nearly 800 million of the more than 3.5 billion worth of contracts to Iraq it has blocked, a prime demand of Russia as well as UN officials. This is in addition to 400 million released last week. US Ambassador James Cunningham told Reuters: "We have been re-evaluating them in light of a new system which we are advocating and proposing and we are looking at the holds through that filter." Some of the contracts were held because of faulty paper work, others because of possible uses by the military. But diplomats said once they were shipped to Washington for persual they appeared to remain there for months, if not years. Items affected by the US action include pipes, pumps, water tankers and valves for the water and sanitation sector pumps, drilling machines and welding equipment for the oil sector steel-reinforced aluminum conductors for the electrical sector a waste heat boiler for fertilizer production and earth moving equipment. Russia as well as United Nations officials have criticized the United States for years on the large number of "holds." but cunningham said the releases were not in exchange in getting Moscow’s agreement on Friday’s resolution. Iraq threatened to cut off oil sales if the Council approved the short extension but said Baghdad would honor all oil contracts signed to date. Goods exempted from sanctions But Council members, including Iraq’s closest allies, went ahead anyway. Iraq has nearly 300 million barrels of oil, enough until next October, allocated in contracts under the UN program that have not yet been delivered. The oil-for-food program, which the United States and Britain want to revamp, is an exemption to stringent sanctions imposed when Iraq invaded Kuwait in August 1990. It allows Iraq to sell oil with the proceeds going to a UN escrow account out of which the United Nations pays suppliers of goods ordered by Iraq. The escrow account would stay in place under the US-British proposals, thereby denying Iraq free use of its oil revenues. Yesterday’s resolution to extend the oil-for-food plan for 30 days "expresses its intention" to consider new arrangements that would "improve significantly" civilian goods that Iraq can import, ban military-related items and prevent Baghdad from selling oil outside the UN system. The rare agreement on Iraqi policy came after meetings in Budapest, hungary, on Tuesday and Wednesday between Powell and Ivanov as well as their British and French counterparts. Before that, Russia had flatly rejected the Anglo-American plan and wanted a six-month rollover of the oil-for-food program. Its opposition, backed by China, forced Washington to call off a vote to revamp the sanctions it wanted this week. Russia, China and France, have been sympathetic to Iraq and openly split with the United States and Britain for at least four years. The five countries are the Security Council’s permanent members with Veto power. But it is by no means clear Russia will support the complicated US-British proposals next month. Russia’s UN Ambassador, Sergei Lavrov, said on Thursday the measures "entered into areas not covered by the sanctions." The core of the dispute is a lengthy US-British list of "dual use" goods that have both military and civilian applications. Iraq would be barred from buying them without Council approval. Obstacles are also expected to arise over US-British proposals that involve cooperation from Iraq’s reluctant neighbors — Jordan, Turkey and Syria. These include regulating illegal trade, monitoring Iraq’s land and sea borders against smuggling and sifting through a list of oil traders to eliminate shadowy firms paying Baghdad a surcharge on oil sales outside of the UN system. (REUTERS) |
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Private investment in civil aviation aimed to provide better facilities CHANDIGARH, June 2: Civil Aviation State Minister Chaman Lal Gupta today said that to provide better facilities, the Government has decided to encourage private investment in the civil aviation sector. "As massive capital was required for development of airports and fleet renewal of airlines in a competitive environment, the Government would encourage private participation. Opportunities had been created for investors to realise adequate returns on their investments," he said while speaking as a chief guest in a seminar on emerging trends in the airlines industry in Nothern India-vision 2005, here. He said a decision had recently been taken for 100 per cent direct foreign investment in the aviation sector. He called upon the NRIs and the entrepreneurs to take this opportunity and invest in the promotion of aviation and airlines industry in the country, specially in Northern States. He said with the disinvestment in Air India and Indian Airlines, the Government was liberalising its policy for liberal air traffic rights on need-driven basis. According to him during the last one year bilateral agreements had been signed providing for a total of more than 13,000 seats per week for each side for each direction. He said a capacity of more than a million seats per year had thus been added for the convenience of international passengers. The growth strategy, he said, envisaged not only better passenger facilities but also improved navigational and communication system. Prof Gupta disclosed that a long term leasing of Delhi, Mumbai, Chennai and Kolkata airports to private investors was underway. The Government, he said, had also declared Bangalore, Hyderbad, Ahmedabad, Cochin, Goa, Amritsar and Guwahati as international airports to bring in more international flights and passgeners to India. He said his ministry was actively considering operating helicopter services during the Amarnath Yatra for the holy cave shrine in August on the pattern of Shri Vaishnodevi Shrine. To a suggestion by Punjab Speaker Charanjit Singh Atwal, he said starting a helicopter service to Hemkunt Sahib in Chamoli district of Uttranchal would be sympathetically considered. He also agreed to another suggestion of Mr Atwal that international flights should be operated from the Rajasansi Airport in Amritsar for the facility of the NRIs from Punjab. He said since the Government was fully committed to ensure highest level of security and safety in aviation, the Airport Authority of India (AAI) had already installed nine mono-pulse secondary surveillance radars and another three would become operational by the year-end or early next year. These radars have minimum safe altitude warning system. All the major air routes in the country, he said, would come under the radar surveillance. Prof Gupta said the construction of civil aviation facilities at Pathankot would be of great benefit to tourists visiting Himachal Pradesh. He said the civil aviation in the new millennium would be one of the biggest growth sectors. India’s domestic air transport industry, he said, experienced a very healthy growth of nine per cent last year. The domestic traffic increased from 12.2 million in 1999 to 13.3 million last year. In the international sector, trends indicated that by the year 2016-17 internatnational passenger traffic would be three times caompared to what it was in 1996-97. He said for the current financial year effective steps were being taken to provide additional capcity on international routes for short duration to take care of high demand. According to him cargo had also emerged as a key thrust area for growth and developmental actiivities in the avitation industry. The country’s 30 per cent exports in value terms went by air. Northern Regional AAI Director S C Goswami enlisted major development and modernisation works completed at New Delhi, Lucknow, Agra, Jaipur, Jodhpur, Varanasi and Udaipur airports. He said new apron and link taxiway at the Leh airport, the highest in the world, would be completed by June, 2003 at a cost of Rs six crore. He also enlisted various projects aimed at modernising and consturction of new terminal buildings at Jammu, Rajasansi, Kangra, Pathankot, Srinagar, Kullu, Dehradun, Jaisalmer, jodhpur, Varansai, Khajuraho and Udaipur. He said the budget estimates for the curerent fiscal for capital works for the region was Rs 91.16 crore and revenue income and revenue expenditure were Rs 207.73 and Rs 172.03 crore resectively. The seminar organised by the Institute of Tourism and Future Management Trend, Chandigarh attracted eminent figures in the field of civil aviation and tourism from within and outside the country. (UNI) |
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Millennium study on Indian agriculture VARANASI, June 2: The Central Government is conducting a" Milennium Study" on the state of Indian agriculture, past experiences and future challenges. Union Agriculture Minister Nitish Kumar told newsmen here last night that the Agriculture Ministry, with the cooperation of the experts had undertaken the millennium study and a final document would be ready in two years for necessary action. Commenting on the reports of the suicides by farmers in different states, he said "even after five decade of the country’s independence we lack a comprehensive and nation-wide picture of the Indian agriculture. The millennium study will cover all aspects of the agriculture and the economic and social life of the rural community". He said that crop insurance, availibility of high quality seeds and proper marketing facilities were the three main factors for the healthy development of Indian agriculture. The Central Government, he added had taken effective measures on all these three aspects. The Agriculture Minister said crop insurance would be implemented calculating a Panchayat of a block as a unit. It was the view of the expors that farmers can not be treated as a unit individually and the crop insurance should be applied to a Panchayat considering it a unit. He said a pilot project has been started in a district of each State to examine the formula. He said Central Government will soon amend the seed act to make it mandatory for the seed companies to State the estimated yield of their product in a specific farm condition. Union Agriculture Minister said that new provisions will be incorporated in the Seed Act of 1984 to make seed companing (government or private, domestic or multi national), accountable for the yield capability of their seed. He said that if a farmer failed to receive the proper yield by using a particular brand he can seek compensation from the concerned company. Mr Kumar said that Indian agriculture had entered a new era, from scarcity to plesty and in this new situation marketing factor was most important. The Central Government had urged the State Government to ensure unrestricted transport of the agriculture goods from one State to another. Indian access to foreign market should also be increased. He also said procurement system in different States should also be strengthened. (UNI) |
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