Tuesday December 10, 2019
Home Uncategorized DoNER Ministe...

DoNER Minister asks Northeast States to expedite fund utilisation

0
//
The Minister of State for Science and Technology (Independent Charge), Earth Sciences (Independent Charge), Prime Minister Office, Personnel, Public Grievances & Pensions, Department of Atomic Energy and Department of Space, Dr. Jitendra Singh addressing at the inauguration of a seminar on ‘’Accountability and Transparency”, in New Delhi on August 27, 2014.

Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh has asked the North-Eastern States to expedite the process of Central fund utilisation by them.

Presiding over the first meeting of the Executive Committee of the North Eastern Council (NEC) here today, Dr Jitendra Singh said, the most common factors responsible for delay in the completion of various developmental projects include failure by the States to produce Utilisation Certificates on time, delay in submission of DPRs and inability of the State to provide its share of funding. As a result, not only the projects get delayed but the consequent escalation in the budget leads to further difficulties in timely completion of these projects, he added.

At the meeting attended among others by Union Secretary, DoNER, Shri Ameishing Luikham, Secretary, NEC, Shri Ram Muivah, Chief Secretaries of all the eight Northeast States and Member, NEC, Shri C.K. Das, Dr Jitendra Singh said, the NEC is no longer an advisory body but, in fact, a regional planning body with a wider and more crucial role.

He referred to the recent initiative of constituting inter-ministerial committees of the Ministry of DoNER with other Ministries and at the same time, engaging the Delhi-based Resident Commissioners of different States for the follow up of projects so that the targets could be achieved more smoothly. For this, he also hinted at revisiting and revitalizing the entire functioning of the NEC. However, he noted with satisfaction that the NEC headquarter at Shillong has become fully functional and reverberating with activity because the newly appointed Secretary and members are regularly attending the office on full-time basis.

On India’s “Act East” policy, Dr Jitendra Singh said, it is his considered view that to “Act East” effectively, we first need to act east proximal and empower the North Eastern region along the international borders. In this regard, he suggested a number of measures including encouraging the local produce which could find takers for business across the Northeast borders, single window check-posts and limiting the list of items for cross-border trade to products exclusively originating from the region.

Taking a note of the suggestion that the annual budget of NEC had not been enhanced for past almost 40 years in spite of change in fiscal and market scenario, Dr Jitendra Singh advised Secretary NEC to prepare a comprehensive brief drawing comparative statistical differences in the annual budget allocation and disbursement as it existed in the earlier years vis-à-vis the current year, so that the same could be presented before the Union Finance Ministry with a request to seek appropriate enhancement.

Expressing dissatisfaction over delayed progress of work at the airports at Gangtok, Guwahati and Itanagar as well as slow pace of rail and road projects, Dr Jitendra Singh said, this adversely affects the progress in every sphere. He also asked the Chief Secretary of Manipur to personally follow up the land transfer issue for the proposed Sports University at Imphal.

 

(PIB)

Next Story

Pension Funds and Insurers Commit to Carbon-Neutral Investment Portfolios by 2050

Executive Director of the UN Environment Programme (UNEP) Inger Andersen said: There are no short-cuts to decisive climate action

0
Pension, Funds, Insurers
The Alliance is an example of investors stepping up to protect people and the planet with the knowledge that companies that transform their businesses to deliver a low carbon economy will benefit most from the opportunities presented by climate change. Pixabay

In one of the boldest actions yet by the world’s largest investors to decarbonise the global economy, an alliance of the world’s largest pension funds and insurers — responsible for directing more than $2.4 trillion in investments – on Monday committed to carbon-neutral investment portfolios by 2050.

This commitment by the newly launched, UN-convened Net-Zero Asset Owner Alliance, was announced at the UN Secretary-General’s Climate Action Summit, which brought together governments, companies and civil society to strengthen commitments and accelerate the implementation of the Paris Agreement on Climate Change.

The Alliance is an example of investors stepping up to protect people and the planet with the knowledge that companies that transform their businesses to deliver a low carbon economy will benefit most from the opportunities presented by climate change.

Executive Director of the UN Environment Programme (UNEP) Inger Andersen said: “There are no short-cuts to decisive climate action. We need to take a long-term view. I applaud the leadership of the investors in this Alliance. Their commitment sends a strong signal that financial markets and investors are listening to science, and moving us to a path of resilience and sustainability.”

Pension, Funds, Insurers
In one of the boldest actions yet by the world’s largest investors to decarbonise the global economy, an alliance of the world’s largest pension funds and insurers — responsible for directing more than $2.4 trillion in investments – on Monday committed. Pixabay

Asset owners — so called because they are the principal holders of retirement savings or are insurance companies investing their customers’ premiums — represent some of the largest pools of capital on the planet.

Their investment portfolios are highly diversified and exposed to all sectors of the global economy.

Concerned about the disruptive impact that unabated climate change will have on societies and economies, now and in the future, responsible asset owners are powerful allies in global action to fight climate change and limit the rise in global temperature to no more than 1.5 degrees Celsius warming.

As long-term investors who must look far into the future to fund their liabilities, asset owners are keen to ensure that the global economy prospers, that climate-related risks are addressed, and that opportunities to invest in a cleaner tomorrow are captured.

Also Read- 7 Things to Consider before Buying Hopper Bottom Trailers

The Alliance was initiated by Allianz, Caisse des Depots, La Caisse de depots et placement du Quebec (CDPQ), Folksam Group, PensionDanmark and Swiss Re at the beginning of 2019.

Since then, Alecta, AMF, CalPERS, Nordea Life and Pension, Storebrand, and Zurich have joined as founding members.

Convened by the UNEP’s Finance Initiative and the Principles for Responsible Investment, the Alliance is supported by WWF and is part of the Mission 2020 campaign, an initiative led by Christiana Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).

Pension, Funds, Insurers
This commitment by the newly launched, UN-convened Net-Zero Asset Owner Alliance, was announced at the UN Secretary-General’s Climate Action Summit, which brought together governments, companies and civil society to strengthen commitments and accelerate the implementation. Pixabay

“Mitigating climate change is the challenge of our lifetime. Politics, business and societies across the globe need to act as one to rapidly reduce climate emissions. We, as asset owners, will live up to our responsibility and, in dialogue with the companies in which we invest, steer towards low-carbon business practices. We’ve already started and, by 2050, our portfolios will be climate neutral,” said Oliver Bate, Allianz’s CEO.

Also Read- Microsoft Extends Security Updates for Windows 7 for Free for Voting Systems

The members of the Alliance will immediately start to engage with the companies in which they are investing to ensure they decarbonise their business models. (IANS)