Companies & Sectors
MTNL gets Rs.458 crore for surrendering CDMA spectrum
New Delhi : The government has approved compensation of Rs.458.04 crore to Mahanagar Telephone Nigam Ltd (MTNL) for surrender of 800 MHz CDMA spectrum, the company said in a regulatory filing on Thursday.
 
“MTNL has informed BSE that government had approved compensation of Rs.458.04 crore to MTNL for surrender of 800 MHz CDMA spectrum out of which Rs.428.95 crore has been sanctioned for disbursal vide DoT (Department of Telecom) letter dated March 28, 2016 and MTNL has received the amount in its account on March 30, 2016,” the filing with the BSE said.
 
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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Tata Trusts partner with Maharashtra for developmental projects
Mumbai : The Maharashtra government and Tata Trusts have signed multiple MoUs to improve community developmental indicators spanning various sectors in the state, an official said here on Thursday.
 
The memorandums of understanding were signed in the presence of Chief Minister Devendra Fadnavis and Tata Trusts Chairman Ratan Tata to conceptualise new programmes and implement existing initiatives to deliver a positive impact on the state's overall development.
 
The state government will be able to achieve convergence and improve efficiencies across its governance, data management, healthcare and nutrition, literacy and welfare initiatives, juvenile justice and other programmes.
 
Tata Trusts will guide in setting up these initiatives, provide strategic and technical advisory support and oversee the implementation of all the programmes.
 
For this, Tata Trusts will collaborate actively with the public health department to set up strategic healthcare advisory units, design a micronutrient deficiency prevention programme and join hands with the food, civil supplies and consumer protection department to arrest malnutrition and other measures.
 
Its planning department will partner with the government to design and implement a model data platform for better implementation of government programmes as part of 'Digital India' vision.
 
It will also collaborate with other major departments like home, women development corporation, Maharashtra state rural livelihood mission, mahila arthik vikas mandal and State Institute of English for various other programmes.
 
"We are pleased to partner with the Maharashtra government to realise our common vision and endeavour of community development and well being. It can only be achieved through focused, innovative and relevant on-ground interventions that will make a real difference to the people," Tata said on the occasion.
 
"We should leverage our strengths to promote more fruitful cooperation in key areas like nutrition, governance, data management, healthcare, education and literary to reinforce welfare initiatives and programmes," the chief minister said. 
 
Fadnavis said it will help propel the socio-economic development of Maharashtra to new heights.
 
All the programmes would include members from the state-level governance boards of various departments, senior advisors from Tata Trusts and its ecosystem of partners.
 
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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Look beyond money to develop Indian ports: Study
New Delhi : India must look beyond money to develop its ports sector for which it has estimated a whopping investment of Rs.2.98 lakh crore (nearly $45 billion) for handling 3.13 billion tonnes of cargo annually, according to a research study released here on Thursday.
 
The study, conducted by the Bureau of Research on Industry and Economic Fundamentals (Brief) with the support of the British High Commission here, recommends a comprehensive, holistic and port-wise plan of action to enhance maritime trade and ease the business environment.
 
The recommendations focus on key areas of reform requiring investment as well as restructuring of port policies to support India's development agenda in the area. The study says for an emerging economy, such initiatives are key to capitalising on trade opportunities and promoting growth.
 
The study comes at a time when Shipping Minister Nitin Gadkari has said the government has drawn up projects with an investment potential of Rs.120,000 crores ($18 billion), including 27 port-based clusters, coastal shipping and inland waterways, which can create 4-6 million new jobs.
 
India currently handles around 1 billion tonnes of cargo from over 200 ports.
 
“It’s not all about investments," said Mohammed Saqib, chief executive of Brief, after looking at some key ports such as Jawaharlal Nehru Port, Mumbai Port, Paradip Port, Haldia Docks, Cochin Port, Chidambaranar Port, Adani Port, Attari and Petrapole Land Customs Stations for the study. 
 
"While technology and international experience are necessary pre-requisites for port development, they must also be complemented with efficient coordination and communication between authorities and the stakeholders in the country," Saqib said.
 
"The recommendations made in the report have been designed to aid overall development of the Indian Ports Sector, which in turn will have positive effects on the Indian economy.”
 
The study was conducted from April 2015 to March 2016 and focussed on identifying infrastructural gaps and policy reforms that needed to be addressed to capitalise on the trade opportunities in the country. 
 
Issues highlighted by it include inadequate mechanisation, low draft, lack of coordination among authorities, poor rail and road connectivity, frequent breakdown of ports and customs softwares, flaws in risk management systems, high tariffs and uncompetitive costs.
 
Brief is an economic research organization focusing on primary survey-based research in a host of socio-economic areas. It has undertaken studies for clients like The World Bank, Germany's GIZ, Ficci, Sidbi, Dun and Bradstreet and the British High Commission.
 
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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