Union Human Resource Development Minister, Smt Smriti Zubin Irani to Participate in an International Conference on the Zero at UNESCO Headquarters

Union Human Resource Development Minister, Smt Smriti Zubin Irani to Participate in an International Conference on the Zero at UNESCO Headquarters

The High Level segment of the International Conference on the Zero, will be addressed by Smt Smriti Zubin Irani, Minister of Human Resource Development, Government of India and Ms. Irina Bokova, Director General UNESCO on 5th April 2016.

The Ministry of Human Resource Development, Government of India, through the Permanent Delegation of India to UNESCO, and together with the Pierre and Marie Curie University, Paris, will host an International Conference on the Zero on 4-5 April, 2016 at UNESCO Headquarters in Paris. The International Conference will share the rich and remarkable history of mathematics, through the participation of some brilliant minds, resonating with the UNESCO’s mandate to advance, transfer and share knowledge for the greater global good.

The International Conference in Paris will open on 4th April at the Pierre and Marie Curie University, Paris, with a session by Professor Manjul Bhargava, Fields Medalist and Professor of Mathematics at Princeton University on “Gems of Ramanujan and their lasting Impact on Mathematics”. Session 2 at UNESCO on “Negative Numbers, Zero, Infinity and Beyond” will be addressed by Dr. Shailendra Mehta from Auro University, Gujarat. There will also be a Panel Discussion on the “Arabic Traditions in Mathematics”. Special Session by Professor Manjul Bhargava on “Mathematics in Indian Music” will be a high point of the Conference.

Through the length of the event at UNESCO, there will be visual and interactive sessions, including films on Mathematics and Science, and interactive problem solving events designed for a young audience. In this category, the highlight will be “Zero: Infinity and Set Theory” conducted by Mr. Romain Attal from the Palais de La Decouverte in Paris.

The event will formally close with the unveiling of a bronze bust by the Minister of Human Resource Development, India and the Director General, UNESCO of the ancient Indian mathematician-astronomer Aryabhata which is a gift from India to UNESCO, as its tribute to the world of Mathematics and Science. The Union Minister of Human Resource Development, Smt Smriti Zubin Irani participated in the high level segment, the Leaders’ Forum, held at UNESCO Headquarters, Paris on November 16-17, 2015 as a part of the 38th session of the UNESCO General Conference.

During this visit, the Minister also held a meeting with the Director General of UNESCO, Ms. Irina Bokova, to discuss the full range of India's cooperation with the organization. As a follow up to the discussions held during the bilateral meeting, for the first time, both the leaders issued Joint Statement on the occasion of the National Mathematics Day, i.e. 22nd December, which is the birth anniversary of Srinivasa Ramanujan, the great Indian intellectual and mathematician. Both the leaders agreed to organize in 2016 a Conference on “Zero” at UNESCO headquarters in Paris.

How bankruptcy code will save lenders

A key design focus in the proposed code is speed of resolution. Delay is disincentivized at various stages 

Creditors to Kingfisher Airlines (KFA) suffered a setback when there were no bids above the reserve price they had set for the Kingfisher House auction. This only reflects the failures of the bankruptcy process and banking regulation in India, which yield low recoveries with huge delays. How will the proposed bankruptcy reforms in the Insolvency and Bankruptcy Code (IBC) help improve the situation?
Robust banking regulation and a sound bankruptcy process share a common goal: to recognize bad news and act quickly. This is not the driving principle in the current Indian bankruptcy regime. Take KFA as an example. In March 2009, it had a debt of Rs.5,600 crore along with a negative net worth. Even by 2013, lenders had taken no credible or coordinated action. Instead, the 2013 annual report records higher debt at more than Rs.10,000 crore, with banks having additional loans of Rs.2,000 crore.
The failure of the Kingfisher House auction is then perhaps about the angst of banks. The auction failed because the bid price set by the lenders was higher than the market price by at least three times. What might explain this? Perhaps the assets are being carried on the books of banks at inflated values, and banks are not keen on revealing the bad news and recognizing a large loss.
This is a failure of banking regulation, which needs reforms. The moment there are failures to repay, banking regulation must incentivize banks to rapidly recognize losses up front. This ensures that the valuation of banks, as seen in the public domain, is always conservative. Any recovery that takes place in the future is pure upside. Technically, robust regulation needs to be backed up by technically sound supervision, where the Reserve Bank of India inspects the books of banks, and block banks when they try to cover up.
A key design focus in the proposed IBC is speed of resolution. Delay is disincentivized at various stages in the process. Let us start at the first date of default. The Insolvency Resolution Process (IRP) can be triggered by any creditor— not just banks alone—on the date of the first default. This is unlike mechanisms in SARFAESI (the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act, 2002, where banks can wait for 90 days before designating a default account as non-performing asset, and have to wait for 30 days before taking action. The IBC empowers even operational creditors including employees and trader creditors to trigger the process. The earliest publicly observed default by KFA was on employees’ salaries. Under IBC, default to employees can be used to trigger resolution. The possibility of this will help keep banks honest.
When IRP is triggered, the firm is protected as a going concern. No secured creditor can take away assets. However, at that point, the creditors’ committee and the resolution professional (RP) could choose to replace the management. This could perhaps have happened with Kingfisher Airlines in 2008 or 2009.
It is likely that at that time the airline had value as a going concern under a new management team. This would have dramatically reduced losses to the lenders. In the proposed IBC, while banks may favour wrong resolution owing to bad banking regulation and public sector ownership, three factors would push in favour of rationality: (a) the fees of the RP would be proportional to effective resolution, (b) the presence of non-bank lenders such as bond-holders in the committee, and (c) the transparency of the process.
Thus, if the creditors’ committee cannot agree on a plan to keep the company as a going concern, it would automatically go into liquidation. The RP would rarely make a mistake through which the auction fails, because his/her earnings are proportional to the value of recovery.
Lastly, suppose public sector banks have flawed incentives owing to weak regulation and political pressures. Suppose they dominate the creditors’ committee with over 75% of the debt, and decide to undertake an extend-and-pretend plan, under the proposed IBC, smaller creditors would get a seat on the table in the meeting of the creditors’ committee and get to protest vociferously. This would be recorded officially. Some of this would be visible in the press. If the firm is unviable, it is likely to default a few months later. In the next IRP, it would be harder for the public sector banks to operationalize another extend-and-pretend plan.
In summary, if we imagine how Kingfisher Airlines would have worked under the proposed IBC, it is likely that the outcomes would have been better, even if there is no progress on banking reform or public sector bank privatization. The bankruptcy reform, in and of itself, is beneficial. At the same time, it is a complex reform that will require a strong team to oversee the implementation, which includes perfecting the draft law, and setting up working groups or task forces to build the institutional infrastructure to enforce the law. Moreover, it is one of the critical pillars of a mature market economy.
The proposed IBC stands alongside other critical pillars, such as the Companies Act, contract law, contract enforcement through a well-functioning judiciary, macroeconomic stability and sound financial regulation through the Indian Financial Code. Each will strengthen the other to facilitate the development of the debt market that has been long sought in India.

India jumps to sixth spot in manufacturers list: UN report

The UN report states that India’s Manufacturing Value Added (MVA) grew by 7.6% in 2015 

 With its ranking going up by three places, India has now been ranked sixth among the world’s 10 largest manufacturing countries, a United Nations Industrial Development Organization report said. India previously held the 9th rank.

The yearbook, published by the UNIDO, finds that in India, the Manufacturing Value Added (MVA) grew by 7.6% in 2015 compared to the previous year. It also said that the quarterly index of industrial production (IIP) shows 1% growth of manufacturing output in the fourth quarter of 2015 compared to the same period of previous year.
“India is now the sixth largest manufacturer in the world,” the report said. The report also said that the global growth rate of manufacturing production has slowed to 2.8% in 2015. “This slowdown could be due to reduced manufacturing growth rates recorded by major developing and emerging economies,” it added.
China tops the list of 10-top industrial producers followed by the US, Japan, Germany and Korea. Indonesia was at the bottom of the lis

Uttarakhand joins “UDAY” scheme ;

Uttarakhand joins “UDAY” scheme ; would derive an overall net benefit of Rs 962 crore through “UDAY”

The Government of India, the State of Uttarakhand and the Uttarakhand Power Corporation Limited (UPCL) which takes care of the power distribution activity of Uttarakhand signed Memorandum of Understanding (MOU) under the Scheme UDAY – “Ujwal DISCOM Assurance Yojana” on 31^st March, 2016 for operational turnaround of the DISCOMs.

Under UDAY, ten states have signed MoU till date. The combined DISCOM debt that would be restructured in respect of these states is around Rs.1.96 lac crore, which is approximately 45% of the total outstanding DISCOM debt of Rs.4.3 lac crore as on 30^th September, 2015.

The Government of Uttarakhand has taken a positive step towards supporting its DISCOM by signing the MOU under UDAY for further improving the operational efficiency of the already efficient DISCOM. Through compulsory Distribution Transformer metering, consumer indexing & GIS mapping of losses, upgrade/change transformers, meters etc., smart metering of high-end consumers, feeder audit etc. AT&C losses and transmission losses would be brought down, besides eliminating the gap between cost of supply of power and realisation. The reduction in AT&C losses and transmission losses to 14.50% and 1.78% respectively is likely to bring additional revenue of around Rs.645 crore during the period of turnaround.

While efforts will be made by the State Government and the DISCOM to improve the operational efficiency of the DISCOM, and thereby reduce the cost of supply of power, the Central government would also provide incentives to the DISCOMs and the State Government for improving Power infrastructure in the State and for further lowering the cost of power. The Central schemes such as DDUGJY, IPDS, Power Sector Development Fund or such other schemes of MOP and MNRE are already providing funds for improving Power Infrastructure in the State and additional/priority funding would be considered under these schemes,  if the State/DISCOMs meet the operational milestones outlined in the scheme.

Demand Side interventions in UDAY such as usage of energy-efficient LED bulbs, agricultural pumps, fans & air-conditioners and efficient industrial equipment through PAT (Perform, Achieve, Trade) would help in reducing peak load, flatten load curve and thus help in reducing energy consumption in the State of Uttarakhand. The gain is expected to be around Rs.303 crore.

An overall net benefit of approximately Rs.962 crore would accrue to the State by opting to participate in UDAY, reduction in AT&C and transmission losses, interventions in energy efficiency, etc. during the period of turnaround.

The ultimate benefit of signing the MOU would go to the people of Uttarakhand. Reduced levels of transmission and AT&C losses would mean lesser cost per unit of electricity to consumers and will increase consumption. Higher demand for power from DISCOM would mean higher PLF of Generating units and therefore, lesser cost per unit of electricity which would again mean lesser cost per unit of electricity to the consumers.

Speech by the President of India, Shri Pranab Mukherjee at first convocation of Swami Rama Himalayan University

1.  I am happy to be here this afternoon for the first convocation of Swami Rama Himalayan University. From my brief observation, I find that this campus represents a clean, green and serene setting for imparting higher education. This University was set up three years ago by the Himalayan Institute Hospital Trust (HIHT) that has been rendering yeoman service in Uttarakhand for the last twenty seven years. The Trust was set up by Shri Swami Rama, who was a great philosopher, teacher, yogi and humanitarian.

2.    Swami Rama, when he was young, trekked the peaks and valleys of the Himalayas. It was then that he became acutely aware of the lack of development, limited access to affordable healthcare and shortage of livelihood opportunities in the region. He decided to return one day and make a difference in the lives of the inhabitants. He founded the Himalayan Institute Hospital Trust in order to provide education, healthcare and livelihood skills. He was of the firm opinion that a human frame is a form of the Divine and that serving one’s fellow beings selflessly and lovingly is the highest form of worship. Swamiji had said and I quote: “If I cannot serve the God within you, then going to temples, churches and masjids is all hypocrisy” (unquote). This conviction led him to make “Love, Serve, Remember” the motto of HIHT, inspiring students, faculty and staff towards selfless service of fellow beings.

Ladies and Gentlemen:

3.  Swami Rama was a multi-faceted personality with great love for his motherland and the place of his birth. Though anointed as the Shankaracharya of Karvirpitham at a young age, he renounced this high spiritual post in order to pursue his yogic-meditative lifestyle. After intense yogic disciplines, he went to Japan and the US to create a bridge between science and spirituality. It is said that under controlled laboratory conditions, he demonstrated voluntary control over involuntary functions such as blood flow, body temperature, heart rate and brain waves. His revelation laid the foundation for acceptance of the psychosomatic origins of disease and the ability of the mind to bring about healing. He established holistic health as a new discipline that had much to offer to allopathic medicine. At HIHT, he stressed upon the importance of amalgamating the wisdom of the East with the modern technologies of the West. As he so succinctly said and I quote: “The fragrance of Eastern wisdom combined with the beautiful form of Western science and technology creates a perfect flower for humanity” (unquote).

4.   Swami Rama had penned a widely-acclaimed book titled, “Living with the Himalayan Masters”, which dealt with his life in the Himalayan caves and monasteries. I am told that the royalties from this book were used by Swamiji to procure land and create infrastructure for this beautiful two hundred acre university campus. The bridge that Swamiji created between science and spirituality will have far reaching consequences for the evolution of mankind and for the betterment of healthcare systems throughout the world. I, therefore, feel privileged to be amidst you in this temple of education, compassion and love.

Friends:

5. It is heartening to note that what started twenty five years ago - with an OPD in a tin shed and a small house for rural development - has bloomed into a beautiful township and a university. Today, this institute provides quality higher education in medicine, para-medical sciences, nursing, engineering and management. It serves the rural masses comprising more than 1,200 villages of Uttarakhand. It focuses on health, education, and income generation programmes. It provides tertiary care services through its 750 bedded multi-specialty hospital and state-of-the-art 250 bedded Cancer centre.

6.  Students and new faculty joining this institution are trained in the Science of Joyful Living, a programme with lectures and practices based on the teachings of the Swamiji. This University is developing integrated and cost-effective approaches to healthcare and development. This will address the needs of the local population. It will also serve as a model for replication in areas with under-served populations. SRHU is taking all steps necessary to align itself to international standards in the delivery of quality education. Its Department of Medical Education was designated in 2014 as a Regional Medical Education Training Centre by the Medical Council of India. This unit is involved in faculty development programmes and the development of innovative teaching and assessment tools.

Friends:

7. A university is the apex of the education system. It is therefore incumbent on higher educational institutions to provide quality education to transform the entire education system. The demographic dividend that we talk about will fructify if we can provide the growing number of our youth good education, knowledge and skills. Mere expansion of higher education by establishing more centres of higher learning is not enough. Unless we take care of quality, the objective of preparing young minds into capable, confident and committed individuals will not be met. An all-out effort to maintain good standards in our higher academic institutions is required, be it in developing the faculty, nurturing core competencies, establishing linkages with other institutions, networking with the industry, or focusing on research and innovation. The research areas should be prioritized so as to solve specific socio-economic problems. It is the duty of our institutions to instill in their students core civilizational values - love for their motherland, a sense of responsibility towards their society, and a compassion for all. The higher education system should produce sound professionals with a strong social sensitivity.

Ladies and Gentlemen:

8.  I congratulate the medical, nursing and management students receiving their degrees from SRHU today. You are the future and the hope of our nation. You are equipped to serve our country with the education and training you have received at SRHU. Remember what Mother Teresa once observed and I quote: “The greatest disease today is not tuberculosis or leprosy; it is being unwanted, unloved, and uncared for. We can cure physical diseases with medicine, but the only cure for loneliness, despair, and hopelessness is love” (unquote). HThis motto takes on even greater meaning when one witnesses that healing and healthcare system in our country must always stand on moral high ground. The prime focus of such a system should be the welfare of patients only. We need dedicated nurses, doctors and managers to make healthcare more scientific and efficient. On your shoulders rests the future of this noble profession.

9.    Convocation is the biggest day in your life as you graduate from formal education and leave the portals of your alma mater. You may do well to bear in mind some suggestions that I have for you:

a)              Don't be anxious about your future: Learn to live in the present. Past is history; future is mysterious; so, focus on your present. Your future will be the outcome of your actions in the present.

b)              Don't brood over the past: You cannot undo what has already taken place. Counter-factual thinking should find no place in your present and future endeavours.  

c)              Do not be afraid of failures; let failure be a source of learning.

d)              Trust yourself: We do not need magic to change the world. We carry all the power we need inside ourselves already; we have the power to imagine and create a better future.

e)              Be a life-long learner: Remember that graduation is a concept. In real life, you graduate every day. It is a never ending process as you learn new things from your occupation and imbibe other qualities from your life experiences. Remember that change is the law of nature.  Like  old  foliage that drops off  in  autumn, to be replaced by new foliage in the spring, try to adapt to change and become an agent for change. Old ideas and approaches that no longer serve any purpose should give way to better ideas. It is your creativity that can usher in change. So, proceed in the journey of life with an attitude to learn and an aptitude to think new.

10. Before I conclude, young students, I wish you by saying that:

I hope your dreams take you...

To the corners of your smiles,

To the highest of your hopes,

To the windows of your opportunities,

And to the most special places your heart has ever known.

11.   Always remember that all our dreams can come true; only, if we have the courage to pursue them. Spread your fragrance and judge yourself not by your accomplishments, but by the happiness of the people around you. Wish you Godspeed in your endeavors!

India Water Week-2016 to begin from April 4 Israel to be partner country

India Water Week-2016 to begin from April 4 Israel to be partner country

The fourth edition of India Water Week will be observed from 04 to 08 April, 2016. Making this announcement in New Delhi today the Union Minister for Water Resources, River Development and Ganga Rejuvenation Sushri Uma Bharti said that the theme for this year’s India Water week is “Water for all: Striving together”. The Minister informed that Israel will be associated as the partner country for this mega event.

Sushri Bharti said the Inaugural session of India Water Week will be followed by Plenary session and Water Resources Ministers conclave on first day.  About 1500 delegates from India and 20 other countries will be attending the conclave.

The Minister informed that the event has been divided into Seminars (eight nos.), Brainstorming sessions (six nos,), Panel Discussions (seven nos.), Case studies (six nos.) and Side Events (five nos.). These events will take place at ITPO, Pragati Maidan. Apart from this, an Exhibition ‘Water Expo-2016’ showcasing the technologies and solutions in water resources sector is also being organised at Hall No. 9, Pragati Maidan for the benefit of delegates.

           

Sushri Bharti said it will be a multi-disciplinary conference enriching the theme with dialogue by national and international community alongwith the exhibition.  Delegates of the event will be immensely benefitted from Israeli experience in efficient management of water resources as well as other national and international experiences. Many reputed National and International Organizations, Research Institutes, Educational Institutions and NGOs from water resources, agriculture, power sectors etc. are participating in the event to share their knowledge and experience in the sector. Most important stakeholder of water, i.e. farmers from different parts of the country are also going to participate in this important event as a part of INPIM Programme on Participatory Irrigation Management and share their experiences.

The Union Water Resources said that the multi-disciplinary dialogue will be addressing the important  initiatives  of the Minister and priority programmes like Pradhan Mantri Krishi Sinchai Yojna (PMKSY), Jal Kranti Abhiyan, More crop per drop, Interlinking of Rivers, etc. apart from other important topics such as (a) Water and Health – managing water quality (b) Agriculture and Irrigation (c) Water and Power – hydro and thermal (d) Industrial water efficiency (e) Water supply and sanitation for rural and urban areas (f) Environment, climate change and water resources sector. Sushri Bharti recalled that in Jal Manthan-2 Programme held at New Delhi in February, 2016,

important issues like bridging gap between irrigation potential created and irrigation potential utilised, fast-tracking of 89 AIBP projects under PMKSY, ground water protection and augmentation, National Hydrology Project, etc were discussed in detail. Such issues are also proposed to find important place in discussion during the present event.

Partner country Israel will exclusively organise two sessions viz. (i) Role of Micro Irrigation in existing command and (ii) Israel makes in India – COE’s and commercial success stories, water management. International Commission for Irrigation and Drainage (ICID) has planned to organize first in the series “India Irrigation Forum-2016” as a part of India Water Week-2016.

Ministry of Water Resources, River Development and Ganga Rejuvenation, Government of India has been organising India Water Week since 2012 as an international event to focus on water related issues. Three editions of India Water Week have been organised so far in 2012, 2013 and 2015.

India to ratify COP 21 Global Climate Agreement on April 22 - Prakash Javadekar

India to ratify COP 21 Global Climate Agreement on April 22 - Prakash Javadekar

Our thrust is on adopting clean Coal technologies : Piyush Goyal

Reasserting India’s commitment to carbon emission reduction and sustainable development, Union Environment, Forests & Climate Change Minister Mr. Prakash Javadekar today said India, along with 100 other nations would ratify the COP 21 Global Climate Agreement on April 22. COP 21 would be ratified at a high level signing ceremony to be convened at the UN Headquarters in New York. The agreement, negotiated in Paris in December 2015, sets out a global action plan to put the world on track by limiting global warming below 2 degree Celsius.

Speaking at a Symposium “COP 21 – Building Synergies, Shaping Actions” organized in the University of Mumbai, Mr Prakash Javadekar said “all countries have decided to walk the green path as per their common but differentiated responsibilities”. He described the Paris agreement as a victory of multilateralism and the one which helped correct image perception of India. “India was always perceived to be a naysayer and negative in its approach and took a corner seat in most of the international conferences. But in Paris, Prime Minister Narendra Modi introduced the concept of climate justice driving home the message of sustainable development”

Mr. Javadekar said climate change was a reality with 1 degree rise in temperature caused by 150 years of uncontrolled carbon emission by the developed world. He said while 30% of cumulative contribution was that of the United States, 50% by Europe, Canada and other developed world and 10% by China, India was responsible for only 3% carbon emission. The Minister further said “though India is not part of the problem, it wants to be part of the solution. Our commitment is reflected in every programme being pursued by the Government” .

He said India had taken pro-active measures to discourage use of fossil fuels in a bid to reduce carbon foot print by levying Rs 400 per tonne green cess on coal. “If the developed world followed India’s example and levied higher taxes on coal, billions of dollars would accrue to pursue clean energy programmes” he added.

Mr Javadekar said the proposed Compensatory Afforestation Funds Bill 2015, would unlock Rs 40,000 crores of funds for the ‘Green India’ initiative. The Bill, which was referred to a Parliamentary Standing Committee is likely to be passed in the second half of the budget session. Under CAF, funds would be made available to states to take up afforestation programmes, and to increase density of existing forests to substantially boost tree cover in the country.

The Minister also listed out plans to control vehicular pollution by moving to Bharat VI emission norms, policies on waste management, Swachch Bharat initiative, Ganga rejuvenation etc as other measures aimed at sustainable development and containing climate change.

Union Minister of State (IC) for Coal, Power, New & Renewable Energy, Mr Piyush Goyal said his portfolios put him in an awkward situation. “I am a polluter as well as a pollution container”, he said.

Mr. Goyal said India has launched the world’s largest renewable energy programme by scaling up the target for solar energy “The solar energy mission envisaged 20,000 Mw of solar electricity generation by 2022. But this target has been pushed ahead by the Prime Minister to 1,00,000 Mw (1Gw)” Mr. Goyal said his Ministry has already bid out 19,000 Mw of solar energy projects and the installed capacity of 20,000 Mw would be achieved as early as 2017. He however cautioned that all renewable energy programmes will be sustainable only if they become economically viable.

Mr. Goyal said coal, which is available in abundance in India, has its own place in ensuring cheaper energy. “While one is aware of pollution caused by the thermal power plants, their importance cannot be overlooked. Therefore, our thrust is on adopting clean coal technologies” he added.

Mr Goyal lamented lack of commitment of the developed world in fulfilling their obligations. He however asserted that “India’s green energy programmes will be carried out whether we receive support of the western world or not”.

Former Chairman, Atomic Energy Commission, Dr Anil Kakodkar, Vice Chancellor of the Mumbai University Dr. Sanjay Deshmukh, DG, TERI, Dr. Ajay Mathur were also prese