Economy
India unveils new pricing norms for difficult gas discoveries
New Delhi : Hydrocarbons discovered and produced from difficult areas will now get a new pricing norm to encourage production and unlock Rs.180,000 crore worth of reserves that are stuck due to want of incentives, Petroleum Minister Dharmendra Pradhan said on Thursday.
 
Briefing reporters on the decisions taken at a meeting of the cabinet, presided over by Prime Minister Narendra Modi, the oil minister said also approved on Thursday was a new oil and gas exploration policy with a revenue-sharing model, as opposed to cost-and-output-based norm.
 
The difficult areas are defined as those from deep-water, ultra deep-water and high pressure-high temperature areas.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Government will act against Mallya: Jaitley
New Delhi : The government on Thursday said "every possible action will be taken" against beleaguered liquor baron Vijay Mallya.
 
Finance Minister Arun Jaitley said in the Lok Sabha during Zero Hour that Mallya, as of end of November 2015, owes about Rs.90 billion to the banks. 
 
He was responding to the issue raised by Congress floor leader Mallikarjun Kharge, who wanted to know why the government did not "confiscate" the passport of the defunct Kingfisher Airlines chief.
 
The Congress leader wanted to know why the government and State Bank of India did not act against Mallya on time, which helped the business tycoon to flee. 
 
Jaitley said every member of the house shares the concern raised by Kharge, but said the sanction of money made to Mallya was during the UPA regime.
 
"As far as accounts are concerned, first sanction was made by the consortium of banks in September 2004," he said, adding then again in 2008. "These dates speak for themselves," he said.
 
Minister of State for Parliamentary Affairs Rajiv Pratap Rudy said Mallya is "no saint" for the NDA regime.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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Online start-ups helping foreign patients get best deals in India
New Delhi : The surge in foreign patients seeking Indian health facilities for specialised and cost-effective medical care has resulted in the mushrooming of online start-ups that help foreign nationals find the best treatment in the country.
 
One such medical tourism start-up, PlanMyMedicalTrip.com, which was started nine years back, is now serving as a one-stop solution provider for foreign medical tourists.
 
"We have patients coming in from all over the world. However, Africa, GCC (Gulf Cooperation Council) and CIS (Commonwealth of Independent States) regions contribute towards the sector by as much as 30 percent of the total inflow," said Anurav Rane, CEO, PlanMyMedicalTrip.com.
 
"There are a lot of different medical and surgical options for medical tourists coming to India. Primarily, medical tourists get elective procedures done such as cosmetic surgery, hip and knee replacements, dental procedures and infertility treatments," he told IANS.
 
According to a white paper by the Confederation of Indian Industry (CII) and Grant Thornton, the Indian medical tourism market is set to touch $8 billion by 2020, up from the current $3 billion.
 
Saed Saber from Egypt recently came to India for knee replacement. "I wanted to get my knee replacement done but was confused as to how I should go about it. Since options in my country are limited with a high price tag for treatment, I started exploring for options, that is when I came to know about PlanMyMedicalTrip.com," he said.
 
Saber visited PlanMyMedicalTrip.com to get his queries answered. "I got to know several options for hospitals across India and also got all the necessary procedures sorted for me in no time," he told IANS.
 
IndiaHealthCareTourism.com, inaugurated recently by Prime Minister Narendra Modi, is an initiative by the government to boost healthcare tourism. It is a web portal that helps and guides the patients who are looking for treatment options in India. It lists 93 topmost medical centres, 30 ayurveda and wellness centres and one special category centre.
 
Another online venture, Medi Connect India, deals with the latest technologies like IVF (infertility), robotics surgeries, stem cell therapies, etc.
 
"The main reason behind India becoming a hub for medical tourism for foreigners is cost-effectiveness. Here in metro cities you would get world-class treatment under the best doctors in a much cheaper way than what they would end up paying in their respective countries," Shalini, assistant team lead, Medi Connect India, told IANS.
 
"In countries like Africa, a lot of modern treatments and good doctors are not available and hence they find India a good destination for medical reasons. Here, the best treatments are available with no waiting time in the company of highly-qualified doctors," she added.
 
Medi Connect India has won the "National Tourism Award" for two consecutive years for excellence in medical tourism.
 
To serve foreign nationals better, most of the top-rated hospitals in India have also hired language translators to make patients, especially from Balkan and African countries, feel comfortable and help facilitate their treatment.
 
According to the CII-Grant Thornton white paper, Chennai, Mumbai, Andhra Pradesh and Delhi-NCR are the most favoured medical tourism destinations for foreigners who avail treatments in India.
 
Cost is a major driver for nearly 80 percent of medical tourists across the globe, it added.
 
The cost factor and availability of accredited facilities have led to the emergence of several global medical tourism corridors like Singapore, Thailand, India, Malaysia, Taiwan, Mexico and Costa Rica -- and India appears to have taken a lead.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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