PM Modi seen off by Dy PM Anwar

ON MAY 31, 2018 BY NARESH SAGARLEAVE A COMMENTEDIT

Prime Minister Narendra Modi was seen off at the Malaysian airport by former PM Anwar Ibrahim and his wife Wan Azizah, who is the current Deputy PM, before departing to Singapore,

Modi is the first foreign leader Anwar has met after being released from prison. He was jailed for sodomy three years ago.

Anwars release was the first big success of the newly elected governing coalition, Pakatan Harapan, led by 92-year-old Mahathir Mohamad, which was swept into power after a shock election victory.

Few in Malaysia have been persecuted for their political views and popularity like Anwar, a man with three prison sentences and 11 years in jail to his name. The pardon was filed on the basis of a miscarriage of justice, thus clearing his name entirely.

It was his first taste of freedom since 2015, following a prison sentence widely perceived as politically motivated; a manoeuvre by former prime minister Najib Razak to get rid of a feared political rival who had run against him and won the popular vote in the 2013 general election.

JD-S get finance portfolio, Cong gets Home in Karnataka:  

ON MAY 31, 2018 BY NARESH SAGARLEAVE A COMMENTEDIT

Janata Dal-Secular-Congress coalition in Karnataka has solved the cabinet tussle.

The JD-S will get the finance ministry, while the Congress will get to keep the home ministry.

Apart from the home ministry, the Congress would get heavy industries, energy, IT/BT, travel and education portfolios. While JD-S will hold revenue and co-operative affairs ministries.

The Congress and JD-S formed a post-poll alliance on May 15 after the BJP had staked claim of forming the government. But the move turned out to be a major embarrassment for BS Yeddyurappa, who had to quit as chief minister within days of staking claim.

HD Kumaraswamy was then sworn in as the Karnataka chief minister and G Paramewshara took over as his deputy.

SAIL declares Rs. 816 Crore Net Profit for Q4 FY18

ON MAY 31, 2018 BY NARESH SAGARLEAVE A COMMENTEDIT

SAIL declares Rs. 816 Crore Net Profit for Q4 FY18

Posted On: 31 MAY 2018 10:33AM by PIB Delhi

Steel Authority of India Ltd. (SAIL) announced its financial results for the fourth quarter of the Financial Year 2017-18 (Q4 FY18) and for FY18. After returning to profits in Q3 FY18, the Company in Q4 FY18 recorded a Net Profit of Rs.816 Crore reaffirming SAIL’s positive performance. This comes after making a provision of Rs.582 Crore towards enhanced gratuity recently approved by Government of India.

All the five integrated steel plants of the Company have also recorded individual profits in Q4 FY18. SAIL management’s sustained efforts for process integration starting from production till reaching the customers, the intensive marketing efforts along with ramping up of  production and stabilization of new mills are all yielding results and a novel end-to-end approach with its new product offerings is helping the Company achieve a stronger position.

Company’s Net Turnover in Q4 FY18 of Rs. 16,811 Crore saw an increase of 34% over CPLY. The Q4 FY18 EBITDA at Rs. 2,624 Crore, a humongous growth over Q4 FY17, is highest in the last twenty-seven quarters. The EBITDA per tonne of sales for Q4 FY 18 is Rs.7020. The total sales volume in Q4 FY18 was 3.738 Million Tonnes (MT) which increased by 8.4% over CPLY.

Slimming the losses by around 83% in FY18, the Profit After Tax on standalone basis improved to Rs. (-) 482 Crore from Rs. (-) 2,833 Crore in FY17. The consolidated profit after tax of the Company stood at Rs. (-) 281 Crore for FY18 as against Rs. (-) 2,756 in CPLY. The strategic and persistent approach to improve operational profitability assisted SAIL to stay EBIDTA positive in FY 18; recorded at Rs.5,184 Crore. The Company registered highest sales volume for the year in FY18 at 14.08 MT which is higher by 7.4% over CPLY.

SAIL’s performance on the production front recorded highest ever quarterly crude steel production of around 4.0 MT in Q4 FY18 with a growth of 6% over CPLY. In Q4 FY18, highest quarterly Concast production of 3.406 MT with growth of 8% over CPLY was also recorded. In the same quarter, the best ever quarterly Coke Rate recorded a reduction of 3% over CPLY, BF productivity was higher by 4% over CPLY and Specific Energy Consumption improved to 6.38 Gcal/tcs, lower by 2% as compared to CPLY.

On this occasion, Chairman, SAIL, P.K. Singh said that, the effect of synergised team work across SAIL, integration of every process and continual focus to service the customers with world class products is finally beginning to show. The Chairman further said that SAIL, is ready with an array of value added products which are tailored for today’s requirements. The domestic market is showing very good growth signs, which is backed up strongly by the Government’s initiative to enhance domestic steel consumption.

Mr Singh also stated that, new mills in SAIL are offering products for every segment and the new marketing initiatives of the Company are not only exploring new markets but also reaching out to people in far flung areas of the Country to raise awareness about steel usage. This will also help SAIL to actively contribute towards the targets envisaged in National Steel Policy. He further said that SAIL’s new products will meet the demands of retail, rural as well as large projects.

INVITATION FOR WORLD ENVIRONMENT DAY 2018 

ON MAY 31, 2018 BY NARESH SAGARLEAVE A COMMENTEDIT

INVITATION FOR WORLD ENVIRONMENT DAY 2018 

INDIA : THE GLOBAL HOST

JUNE 01 – 05, 2018, VIGYAN BHAWAN, NEW DELHI, INDIA

Dear Sir/Madam,

Greetings from FICCI (Federation of Indian Chamber of Commerce & Industries)..!

We are pleased to inform you that �World Environment Day� is celebrated on June 05 and this year India has been declared as the host country for celebration of the mega event �The World Environment Day 2018 (WED – 2018)�. The   Ministry of Environment, Forest & Climate Change, (MoEF&CC), Government of India jointly with Federation of Indian Chambers of Commerce and Industry (FICCI) is organising the �World Environment Day, 2018�. The major components of the celebration are the Exhibition, the Conferences and theCultural Evening. The conference will take place in Vigyan Bhavan from June 01 st – 05 th , 2018 . The exhibition will take place in the back lawns of Vigyan Bhavan from June 03 rd � 05 th , 2018.

World Environment Day (WED) is a UN Environment-led global event, which is the single largest celebration of our environment each year and is celebrated by thousands of communities worldwide. Since it began in 1972, it has grown to become a global platform for public outreach that is widely celebrated across the globe.  WED is celebrated around the world to take ownership of their environment, and to actively engage in the protection of our earth.

The main aim of the event is to raise awareness for the environment, efficient and effective use of technologies for environmental protection and scope for research & development for new environmental protection technologies.

The exhibitions held will provide a platform for the National and International level technology and equipment manufacturers to explore new business opportunities worldwide. It will also provide a great opportunity to network building within the Industry.

In addition to the same, a series of cultural events along with 360 degree Panoramic Projection Screen showcasing short movies on Environment (Dome structure) will also be the part of the event. we look for your participation in a big way in this prestigious event. 

Why Participate?

World Environment Day (WED), 2018 is an opportunity to experience the contribution by the world�s leading companies, who will be showcasing their innovations and current developments.

Understand emerging opportunities in Environment protection.

Sharing perspective with the Government – Centre and State level on their programmes, projects and schemes.

Improve your business know how, imbibe with the world�s latest and biggest trends in your business and expand your horizons.

Meet the Indian & International players in the sector.

To participate in the Conferences – For sharing knowledge and best practices.

Major Highlights of the World Environment Day 2018:

�         Over 10000 sq. meters of space for exhibition                   

�         Conference on Various themes related to Environment from 1 st � 4 th June

�         State Participation to showcase the opportunity in the sector from 2 nd � 5 th June

�         Theme Pavilions

�         Cultural Programs from 3 rd � 5 th June, evening 7 pm to 9 pm

�         Networking with industries

�         Green Umbrella for Students (for first 400 boys and 400 girls registration)

�         ENVITHON (The Green Run) on 3 rd June

For details and Free Registration please visit the website : http://www.wedindia2018.in

Also Connect us at :

FB                       :               www.facebook.com/WED2018India

Twitter                 :               https://twitter.com/WED2018India

Insta                     :               https://www.instagram.com/WED2018India

Linkedin               :               https://www.linkedin.com/company/wed2018india

Snapchat               :               https://www.snapchat.com/add/wed2018india

Please feel free to contact us for further information and getting registered for the event.

Looking forward for your kind confirmation and a successful participation at World Environment Day 2018 (WED – 2018).

RSVP : Ms. Mahima | Mobile: 9717211060 | mahima@c2cm.com | Register Here!

Thanks & Regards,

Mahima

The Growth Net Summit 2018

ON MAY 31, 2018 BY NARESH SAGARLEAVE A COMMENTEDIT

The Growth Net Summit 2018
A new global outlook: Broadening business prospects
18 – 19 June 2018, New Delhi

The Growth Net Summit, the International forum for brainstorming on the challenges and opportunities of emerging world markets has grown since 2013 to be a strong global networking platform.

The 6th edition of the Growth Net Summit – convened by Ananta Centre, Confederation of Indian Industry (CII) and Smadja & Smadja is scheduled for18th – 19th June 2018 at Taj Diplomatic Enclave, New Delhi.

Supported by the Ministry of External Affairs and the Ministry of Finance, the Growth Net Summit in 2017 brought together more than 75 speakers and 200 delegates from 20 countries, including business and political leaders, economists, senior officials, media persons and thought-leaders who shared insights and brainstormed on issues critical for generating and sustaining economic momentum in most emerging economies. We were honoured to have Mr Nitin Gadkari, Minister of Road Transport & Highways and Shipping;Mr Suresh Prabhu, then Minister of Railways, India; Mr Prakash Javadekar, Minister of Human Resource Development address at the Summit. The international speakers included Mr. S Iswaran, Minister for Trade and Industry, Singapore; Lord Nicholas Stern, IG Patel Professor of Economics and Government, London School Economics and Political Science; the UK; Mr Manuel Cavazos Lerma, Senator, Chamber of Senators of Mexico; Mr Gita Wirjawan, Founder/Chairman, Ancora Group and former Minister of Trade, Indonesia etc.

Please click here to see the report of the last Summit held in 2017 with the key highlights and recommendations that emerged from the discussions.

The Growth Net Summit 2018, will bring together key stakeholders to discuss topics of mutual interest like trade and investments, growth strategies, sustainable energy, fintech, skills and job creation, infrastructure development, innovation, entrepreneurship and Start Up revolution, manufacturing and also the technologies that will define the future like automation, advanced robotics, block chain and Artificial Intelligence.

The Growth Net Summit is a unique meeting for participants from the emerging market countries to jointly shape their future and advance common objectives. We also have participation from the developed economies – USA, Japan, South Korea and EU – considering their impact and role in the global economy.

Members and representatives of Industry are invited to actively participate in Growth Net Summit 2018. For registration fees, online registration and other details, please visit http://www.thegrowthnet.com/.

For more details, please contact:

Arunabha  Bhattacharya

Email id: arunabha.bhattacharya@anantacentre.in

Phone number: +91 11 4327 9010

Prerna Bountra

Email id: prerna.bountra@anantacentre.in

Phone number: +91 11 4327 9009

Please note that only registrations that have been approved by the organisers will be allowed to attend the Summit.

Kind regards,

Saugat Mukherjee

============================

Dr Saugat Mukherjee

Senior Director

Confederation of Indian Industry

The Mantosh Sondhi Centre

23, Institutional Area, Lodi Road

Tel: +91-11-24629994-7

Fax: +91-11- 2460 1298

Mobile No. 9748098462

Website: www.cii.in

Date: 30^th May, 2018

Analysis of Donations Received above Rs 20,000 by National Political Parties – FY 2016-17

This report, prepared by Association for Democratic Reforms (ADR) and National Election Watch(NEW), focuses on donations received by the National Political Parties, above Rs 20,000, during the Financial Year 2016-17, as submitted by the parties to the Election Commission of India (ECI). The National Parties include Bharatiya Janata Party (BJP), Indian National Congress (INC), Bahujan Samaj Party (BSP), Nationalist Congress Party (NCP), Communist Party of India (CPI), Communist Party of India (Marxist) (CPM) and All India Trinamool Congress (AITC).

Executive Summary

The executive summary below lists the key observations drawn from the report:

1.       Donations above Rs 20,000 to National Parties from all over India (FY 2016-17)

a)      The total donations (above Rs 20,000) declared by the National Parties was Rs. 589.38 cr, from 2123 donations.

b)      A total of Rs 532.27 cr was declared by BJP from 1194 donations while INC declared receiving Rs 41.90 cr from 599 donations. The donations declared by BJP is more than nine times the aggregate declared by INC, NCP, CPI, CPM and AITC for the same period.

c)       BSP declared that the party did not receive any donations above Rs 20,000 during FY 2016-17, as it has been declaring for the past 11 years.

2.       Comparison of donations received by National Parties during FY 2015-16 and FY 2016-17

a)      The total donations of the National Parties during FY 2016-17 increased by Rs 487.36 cr, an increase of 478%, from Rs 102.02 cr declared during the previous financial year, 2015-16.

b)      Donations to BJP increased from Rs 76.85 cr during FY 2015-16 to Rs 532.27 cr during FY 2016-17 (593% increase) while NCP has declared an increase of 793%, from Rs 71 lakhs in FY 2015-16 to Rs 6.34 cr in FY 2016-17.

c)       Donations to AITC increased by 231%, CPM and INC have declared increase of 190%and 105% respectively as per their donation reports for FY- 2015-16 and 2016-17, while that of CPI decreased by 9%.

  

 

3.       Sources of income of National Parties – FY 2016-17

a)      Total income of National Parties (as per their audit reports) for FY 2016-17 – Rs 1559.17 cr.

b)      Total income of the National Parties from known donors (details of donors as available from contribution report submitted by parties to Election Commission): Rs 589.38 cr, which is 37.8% of the total income of the 7 National parties during FY 2016-17.

c)       Total income of the parties from other known sources (e.g., sale of assets, membership fees, bank interest, sale of publications, party levy etc.): Rs 258.99 cr, or 16.61% of total income.

d)      Total income of the seven National Parties from unknown sources (income specified in the IT Returns whose sources are unknown), for the FY 2016-17 is Rs 710.80 cr, which is 45.59% of the total income of the parties from all over India.

                * Other known income include: sale of moveable & immoveable assets, old newspapers, membership fees, delegate fee, bank interest, sale of publications and levy

4.       Details of unknown sources of income as declared by the parties in their IT Returns

a)      Among the unknown sources of funding, maximum funds were collected under “Voluntary Contributions” by BJP during FY 2016-17. A total of Rs 464.84 cr was collected under this head which formed 99.98% of the total income from unknown sources of BJP.

b)      The most preferred unknown source of funding for INC was “Sale of coupons” under the party collected a total of Rs 115.64 cr which formed 91.69% of the party’s total income from unknown sources during FY 2016-17.

5.       State-wise donations to National Parties – by Cash, cheque/ DD, bank transfers

a)      Segregation of donations according to State was made by ADR/NEW based on the address provided by the parties in their donations report to the ECI.

b)      A total of Rs 290.90 cr was donated to the National Parties from Delhi, followed by Rs 112.31 cr from Maharashtra and Rs 20.22 cr from Uttar Pradesh.

c)       A total of Rs 91.91 cr, (15.59% of total donations received by the National parties, FY 2016-17), could not be attributed to any State/ Union Territory due to incomplete information provided by the parties.

6.       Donors from Corporates/ business sectors Vs. Individual donors

a.       708 donations to the National Parties were made by corporate/business sectorsamounting to Rs 563.24 cr (95.56% of total donations) while 1354 individual donors donated Rs 25.07 cr (4.25% of total donations) to the parties during FY 2016-17.

b.      531 donations from corporate/business sectors were made to BJP (Rs 515.43 cr) while 663 individual donors donated Rs 16.82 cr to the party during FY 2016-17.

c.       INC received a total of Rs 36.06 cr via 98 donations from corporate/business sectors and Rs 5.84 cr via 501 individual donors during FY 2016-17.

7.       Top donors to National Parties, FY 2016-17

a.       Satya Electoral Trust donated a total of Rs 265.12 cr to BJP and INC and is one of the top 2 donors to the two parties. The Trust donated Rs 251.22 cr to BJP (94.76% of total funds received by the party) and Rs 13.90 cr to INC (5.24% of total funds received by the party).

b.      NCP received Rs 2 cr donations from B.G. Shirke Construction Technology Pvt. Ltd. and Rs 1.10 cr from A.N. Enterprises Infra Services Pvt. Ltd.

Observations and Recommendations of ADR

Observations

1.    Incomplete disclosure of information in the donations report: There is still ambiguity in details of donations declared by the National Parties for FY 2016-17. 

a)        Of the 7 National Parties, 4 parties, BJP, INC, CPI and CPM had not declared PAN details of 166 donations through which the parties collected a total of Rs 2.86 cr. INC collected Rs 1.69 cr from 88 donations but failed to provide PAN details of donors. One donation to BJP (Rs 1 lakh) and two donations to CPM (Rs 2.25 lakhs) did not have PAN details in their donations statements for FY 2016-17.

b)        AITC has not provided cheque number, bank on which it was drawn and the date on which the cheque was received/ encashed for any of its 12 donors who contributed a total of Rs 2.15 cr.Thus, without the complete cheque/DD details, it would be a time consuming process to link the donors against their donations and hence trace the money trail.

c)   CPI has also not declared the details of cheque and DD (cheque number, bank on which it was drawn and the date on) for a total of 33 donations through which the party received Rs 37.41 lakhs.

d)   CPI has not provided the names and PAN number of 56 donations of state secretaries and districts councils of the party though their contributions amount to Rs 1.04 cr while the party collected Rs 1.13 cr from 75 donations without PAN.

e)   BJP has collected Rs 1.54 cr from 26 donations without declaring Address and Mode of payments in its donations statement for FY- 2016-17.

2.    Similar to the delay in submitting their audit reports to the Election Commission of India, the National Parties have failed to submit copies of their donations report before the deadline of 30^thSept, 2017. BJP delayed its submission by 87 days while AITC submitted it on 27.10.2017, 26 days after the due date. CPM delayed its submission by 55 days BSP, CPI, NCP and INC filed their donations report before the due date.

Recommendations

1.       The Supreme Court gave a judgment on September 13, 2013 declaring that no part of a candidate’s affidavit should be left blank. Similarly, no part of the Form 24A submitted by political parties providing details of donations above Rs 20,000 should be blank.

2.       Full details of all donors should be made available for public scrutiny under the RTI. Some countries where this is done include Bhutan, Nepal, Germany, France, Italy, Brazil, Bulgaria, the US and Japan. In none of these countries is it possible for nearly 50% of the source of funds to be unknown, but at present it is so in India.

3.       The National and Regional Parties should, ideally, lead by example by filing complete and correct statements of donations to the ECI well in time for public scrutiny so as to encourage financial transparency.

4.       The National and regional political parties must provide all information on their finances under the Right to Information Act. This will go a long way in0 strengthening political parties, elections and democracy. For more information, please refer to https://goo.g