Monday December 18, 2017
Home Uncategorized Telangana CM ...

Telangana CM urges Jaitley to hike cap on borrowings

0
62

New Delhi/Hyderabad: Telangana Chief Minister K. Chandrasekhar Rao on Tuesday met Union Finance Minister Arun Jaitley in New Delhi and urged him to hike the cap prescribed by Fiscal Responsibility and Budget Management (FRBM) Act for raising loans.

The chief minister also discussed the issues of the central government’s help for the state’s development and allocation of funds under various central schemes.

Jaitley told reporters after the meeting that the chief minister made certain suggestions with regard to raising resources for the state and methodologies for the same.

“He wants the FRBM’s limit for the state to be raised. He gave documents in support of that. Expenditure department will consider the feasibility,” Jaitley said.

KCR, as the chief minister is popularly called, said the central government should relax the FRBM norms and allow the state to borrow loans up to 3.49 percent of Gross State Domestic Product (SSDP) against the existing limit of less than 2.7 percent.

The state’s representative in the national capital Venugopala Chary said KCR reiterated the requests made earlier.

KCR also sought the central government’s help for drought relief and more allocation of funds for Mission Kakatiya and Jalaharam, the flagship programmes of the state government for development of irrigation and drinking water supply.

The chief minister also called for more funds for the development of backward districts of the state.

KCR later in the day will attend a meeting of the sub-committee of Niti Aayog (National Institution for Transforming India) on devolution of funds to states and centrally sponsored schemes.

KCR had earlier urged Niti Aayog to relax the FRBM norms so that the state could borrow more loans for taking up development schemes.

He is of the view the FRBM guidelines for raising resources through borrowings for revenue surplus states should be on a par with the central government.

The chief minister said such a relaxation would enable the newly-created states to invest in capital infrastructure to improve the economic growth.

(IANS)

 

Next Story

Food processing will be a main industry in future: Jaitley

0
37
Food
Food processing will be a main industry in future: Jaitley

New Delhi: The entire Indian agriculture value chain is set to change drastically and food processing is going to be one of the main industries of the country in the future, Finance Minister Arun Jaitley said on Friday.

“The farm to kitchen chain is going to change in India, like elsewhere, with increased agricultural production, better storage facilities, more food processing and changing consumer food preference,” Jaitley said at the inaugural session of the World Food India 2017 here.

 “Food processing is going to be one of the principal industries of India in future, and an entrepreneur in 2017 should think of the industry from the perspective of where it will be in 2040, 2050,” he said.

In terms of market size, the Indian food market was worth $193 billion in 2016 and is expected to cross $540 billion in 2020, officials said here. The sector has been growing at the rate of 12 per cent annually.

“There is a silent revolution ongoing in India. There is an expanding middle class and below that there is a growing aspirational class, which is building up reasonable purchasing power,” the Finance Minister said, noting that this provided an enormous potential market for food products in the country.

About the potential, Food Processing Minister Harsimrat Kaur Badal said that only about 10 per cent of agricultural produce is processed in the country, leading to a lot of wastage.

The industry enjoys many fiscal incentives, including preferential credit under priority sector lending, she said.

“There is 100 per cent FDI (foreign direct investment) allowed into the sector through the automatic route and we have seen inflows increase 40 per cent over the last year,” she said.

“The proposal for a Food Processing Bank is also under active consideration.”

In the presence of delegates from many countries, the event was inaugurated earlier by Prime Minister Narendra Modi, who pointed out that India is the biggest producer of milk in the world and the second in rice, wheat, fish and vegetable output.(IANS)

Next Story

Five Students from Telangana Selected for the NASA Human Exploration Rover Challenge

The NASA Human Exploration Rover Challenge began as the NASA Great Moonbuggy Race and was first held in in 1994

0
35
NASA

Hyderabad, October 12, 2017 : A team of five students from an engineering college in Telangana has been selected for the prestigious NASA Human Exploration Rover Challenge.

The team from SR Engineering College, Warangal, will participate in the fifth annual challenge to be held on April 12-14, 2018, in Huntsville, Alabama, US.

It is one of the four teams from India short-listed to compete in the challenge. Students from 23 countries are participating in the challenge to create a buggey designed to traverse the simulated surface of moon.

The team, which will prepare a moon buggy design, report and submit their idea, will be led by faculty Manoj Chaudhary. It includes P. Paul Vineeth, Prakash Raineni, P.Sravan Rao, Rondla Dilipreddy Aand Venishetty Sneha, said a statement.

Congratulating the students, SR Engineering College Secretary A.Madhukar Reddy said it was a great opportunity to design, build, and test technologies that enable rovers to perform in a wide variety of environments.

The NASA Human Exploration Rover Challenge began as the NASA Great Moonbuggy Race and was first held in in 1994, 25 years after the first manned Apollo landing on the moon.

The challenge now focuses on National Aeronautics and Space Administration’s current plans to explore planets, moons, asteroids and comets.

During its 20-year run, the Great Moonbuggy Race engaged more than 10,000 students and demonstrated that these budding scientists and engineers were capable of complex work. (IANS)

Next Story

IAF trainer aircraft crashes in Telangana

0
29
HAL Intermediate jet trainer
IAF kiran. wikimedia

New Delhi, Sep 28: IAF’s intermediate trainer aircraft- Kiran, crashed in Telangana on Thursday morning, but the pilot and another person on board ejected out safely.

The aircraft got airborne from Hakimpet Air Force base on Thursday morning for a routine training sortie and crashed around 11.45 a.m.

The aircraft was being flown by a trainee pilot.

IAF sources added that a Court of Inquiry has been ordered to look into the cause of the accident.

According to police, the aircraft caught fire and was gutted after the crash near Ankireddypalli village in Keesara ‘mandal’ (block) of Medchal district.

Minutes after taking off from Hakimpet Air Force Station, the aircraft developed some technical snag and crashed in the fields.

Eye-witnesses said they heard a huge thud and soon flames engulfed the aircraft.

The pilot and another person accompanying him ejected out with parachutes before the crash, police said.(IANS)