Citizens' Issues
Ragpickers to be regularised for better waste management: Javadekar
New Delhi: Recognising the ragpickers' vital role in solid waste management, the government has decided to register and regularise them, union Environment Minister Prakash Javadekar said here on Tuesday.
 
It has also been decided to criminalise open burning of waste.
 
Announcing the revised rules for solid waste management, the minister said the government would also provide better healthcare facilities to the ragpickers. 
 
Revised after 16 years - as the rules were first laid down in 2000 - the new rules would come into effect from Wednesday, the minister said.
 
Under the new rules, sanitary napkins and diapers would not be allowed to be dumped in the open. Instead, the manufacturers would be asked to provide dumping pouches for them.
 
Open dumping of sanitary napkins and diapers posed a health threat to the ragpickers among other detrimental effects on the environment, the minister said. 
 
"This is in conformation with the 'extended producer responsibility' concept where the producer would also be responsible for managing the end waste of the product," Javadekar explained.
 
On criminalising open burning of waste, Javadekar said: "To curb open burning of solid waste strict action would be taken like considering it a crime under EP Act (Environment Protection Act), though it would also depend upon local governance." 
 
"Every year 62 million tons solid waste is produced in India of which only 12 million tons is treated," the minister 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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Consolidation of some state-run banks post-fortifying: Jaitley
New Delhi: The government will go ahead with a plan for some consolidation of state-run banks after their recapitalisation, which is currently underway, and strengthening is done, Finance Minister Arun Jaitley said on Tuesday.
 
"We have now undertaken this exercise of recapitalisation of banks within the existing resources. I am trying to find additional resources for that purpose, to strengthen the banks. Once they are strengthened, I am going for consolidation of some of the banks," he said at an International Finance Corporation (IFC) event here.
 
Continuing government efforts to deal with the high levels of non-performing assets (NPAs), or bad debts, of state-run banks, Jaitley had, in his February union budget, allocated Rs.25,000 crore towards their recapitalisation in the current fiscal.
 
He has provisioned to provide Rs.25,000 crore capital each during 2015-16 and the current fiscal, while Rs.20,000 crore would be provided during 2017-18 and 2018-19.
 
In July last, the government had presented to parliament a supplementary demand for grants to provide for Rs.12,000 crore towards recapitalisation of public sector banks (PSBs).
 
As per estimates, PSBs would need additional capital of up to Rs.240,000 crore by 2018 to meet the Basel III capital adequacy norms, put in place to guard against a repeat of the situation following the 2008 US financial crisis.
 
The quantum of exposure of Indian scheduled banks in terms of gross non-productive assets, re-cast loans and write-offs was Rs.9.5 lakh crore as of September last year.
 
The government earlier this year named former comptroller and auditor general Vinod Rai the first chairman of the Banks Board Bureau that will give advice on how to recover the bad loans of state-run banks.
 
The members co-opted to the board are Anil K. Khandelwal, former chair of Bank of Baroda, H.N. Sinor, former joint managing director of ICICI Bank and Rupa Kudwa, former managing director and chief executive of Crisil.
 
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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Economic growth for 2015-16 to be nearly 8 percent: Debroy
Kolkata: Economic growth in 2015-16 will be close to eight percent, in view of increasing public investments in roads, railways and resolution of problems of projects that were stuck with banks, NITI Aayog member Bibek Debroy said on Tuesday.
 
"Public investments on roads and the railways have gone up. Several things have been done to resolve the problems of projects that are stuck with banks. As a result of all of those, I am inclined to think that this year (2015-16), the growth will not be 7.5 percent as the finance ministry has suggested, but it will be little bit more. It will probably be close to 8 percent," he said here.
 
Addressing a special session on 'Growth Engines for the Indian Economy: Some Perspectives', organised by Bharat Chamber of Commerce, he said: "Double digit growth is impossible until global economies recover."
 
Debroy also said there were pointless speculations about the veracity of growth figures and national income with the method of calculating the new growth numbers differing from the old one.
 
"The present series is much more in conformity with the international practice than the old series was and because several things have changed, it is impossible to compare the new series with the old series," he said.
 
Inflation has gone down and the RBI slashed rates, he said.
 
"If one is looking at interest rate to provide a kick-start to growth, that required a much sharper interest rate cut than the RBI is in a position to do. Central banks, world over tend to be conservative," he 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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COMMENTS

Mahesh S Bhatt

11 months ago

Is somebody accounting stressed assets and ROI??

It appeaers growth without ROI?

This is the story past 8 years & we are getting into bigger debt challenges across industries.

An International agency puts Debt /GDP ratio is around 165% around 8 months back for India? Is it true?

Mahesh

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