Month: February 2024

Budget 2024 highlights: Rashtriya Krishi Vikas Yojana allocation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government plans an outlay of ₹7,553 crore under the Rashtriya Krishi Vikas Yojana (RKVY) for the fiscal year 2024-25.  

The Central government launched the RKVY scheme in 2007-2008 with a target of increasing annual growth in the agriculture sector. The scheme aimed to largely incentivise states to draw up comprehensive agriculture development plans to ensure holistic development of agriculture and allied sectors. It is the Centre’s flagship scheme to boost farm output.

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The RKVY scheme was launched under the Department of Agriculture and Cooperation (DAC) of the Ministry of Agriculture in 2007 and was implemented as an Additional Central Assistance (ACA) to State Plan Scheme with 100% central assistance by 2013-14. It takes into account agro-climatic conditions, natural resources and technology to secure more inclusive and integrated development of the agricultural sector across states.

The funding pattern of the scheme has now been altered in the ratio of 60:40 between the Centre and state governments, with a 90:10 proportion set for the northeastern states as well as the Himalayan states. The funding pattern for Union Territories (UTs) remains at 100% central grant from 2015-16.

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Under this programme, the government allocates funds to increase yield and maximise returns for farmers. Various storage facilities are proposed to be built near farms that would allow them to hold their produce without getting spoiled until market prices go up thereby making it profitable enough for the farmers.

The government allocated ₹7,150 crore for 2023-24 for the RKVY scheme, compared to Budget estimates of ₹10,433 crore in 2022-23.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Jerome Powell-led US Federal Reserve keeps interest rates unchanged for 4th consecutive time

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In its latest decision, Jerome Powell-led US Federal Reserve, or the Federal Open Market Committee (FOMC) on Wednesday (January 31) has chosen to leave interest rates unchanged for the fourth consecutive time, signaling a commitment to the current rate policy.

The decision means that the federal funds rate will continue to hover within the range of 5.25% to 5.5%.

“The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%,” FOMC said in a statement.

But in a statement, it signaled a shift by dropping previous wording that had said it was still considering further hikes.

Still, the central bank cautioned that it “does not expect it will be appropriate” to cut rates “until it has gained greater confidence that inflation is moving sustainably” to its 2% target. That suggests that a reduction is unlikely at its next meeting in March.

The overall changes to the statement — compared with its last meeting in December — indicate that the Fed has definitively shifted toward considering rate reductions.

In December officials signaled that they would implement three quarter-point rate cuts this year. Yet they have said little about the timing of when those cuts would begin, though senior officials earlier this month had emphasized that the Fed would proceed cautiously.

The change in the Fed’s stance comes as the economy is showing surprising durability after a series of 11 rate hikes helped drastically slow inflation, which hit a four-decade high 18 months ago.

Over the past six months, prices have risen at an annual rate of just below 2%, consistent with the Fed’s target level, according to its preferred inflation gauge. And growth remains healthy. In the final three months of last year, the economy expanded at a 3.3% annual rate, the government said last week.

The Fed is assessing inflation and the economy at a time when the intensifying presidential campaign is pivoting in no small part on voters’ perceptions of President Joe Biden’s economic stewardship.

Republicans in Congress have attacked Biden over the high inflation that gripped the nation beginning in 2021 as the economy emerged from recession. But the latest economic data — ranging from steady consumer spending to solid job growth to the slowdown in inflation — has been bolstering consumer confidence.

(With inputs from AP)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IIMC receives deemed university status, empowered to award degrees, offer doctoral progammes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian Institute of Mass Communication, a 58-year-old institution known for its journalism and mass communication courses, was on Wednesday granted the status of a deemed-to-be university, empowering it to award degrees rather than just diplomas, according to the Union Ministry of Education.

The newly-awarded status will also empower the Indian Institute of Mass Communication (IIMC) to offer doctoral programmes.

The institute, established under the Union Ministry of Information and Broadcasting in August 1965, is one of the country’s premier institutions of its kind, providing quality training in journalism and undertaking meaningful research in media and mass communication.

“On the advice of the UGC (University Grants Commission), the Ministry of Education, in exercise of powers conferred under Section 3 of the UGC Act, 1956, hereby declares the Indian Institute of Mass Communication, New Delhi, along with its five regional campuses in Jammu, Amravati (Maharashtra), Aizawl (Mizoram), Kottayam (Kerala) and Dhenkanal (Odisha) as an institution deemed-to-be-university under distinct category,” the ministry said in an official notification.

“IIMC, New Delhi, shall become compliant with the UGC (Institutions-deemed-to-be-Universities) Regulations, 2023, within a period of six years from the date of issuance of the notification. The entire moveable and immoveable assets will be legally transferred in the name of IIMC, New Delhi, within one year,” it said.

IIMC shall not indulge or engage in any activities that are of commercial and profit-making in nature, the notification added.

The institute currently offers postgraduate diploma in journalism courses in English, Hindi, Urdu, Odia, Marathi, Malayalam, radio and television, and advertising and public relations.

Headquartered at the full-fledged campus in New Delhi, IIMC has regional campuses in Dhenkanal (established in 1993), Aizawl (established in 2011), Amravati (established in 2011), Jammu (established in 2012) and Kottayam (established in 1995) to provide quality media education in the respective regional languages, in addition to various courses offered at the national level.

The IIMC is also the training academy for Indian Information Service (IIS) officers.

Union Information and Broadcasting Minister Anurag Thakur, in a post on X, called it a special and historic day for IIMC.

“It is a special and historic day for the Indian Institute of Mass Communication (IIMC) as it receives deemed university status. This institute has a glorious history of imparting quality education in media subjects like journalism, advertising, public relations,” he said in the post.

“The granting of university status marks a new beginning, as more courses could be added to the curriculum along with research and doctoral programmes. This step will provide our youth with new opportunities and help them explore new avenues,” he added.

The idea to grant deemed university status to IIMC is not new. The Union Information and Broadcasting Ministry had approved the plan in 2016.

During a review of higher education institutes by the Niti Aayog in 2018, it was recommended that the IIMC be merged with either the Jawaharlal Nehru University’s Centre for Media Studies or Jamia Millia Islamia’s AJK Mass Communication Research Centre.

However, the institute, the Union Information and Broadcasting Ministry and the Education Ministry (the then Human Resource Development Ministry) had rejected the idea.

The UGC in 2018 formed a four-member committee headed by BK Kuthiala, the vice-chancellor of Makhanlal Chaturvedi University in Bhopal, to analyse a proposal by the IIMC in this regard.

The panel was later disbanded and two committees — one headed by Sachidanand Joshi, member secretary of the Indira Gandhi National Centre for the Arts, and the other by MS Parmar, vice-chancellor of the Kushabhau Thakre University of Journalism — made the recommendation.

Based on the committees’ recommendations and inspection teams’ feedback, the UGC had then recommended that the ministry should issue an LoI to the institute.

“A big thank you to the UGC for declaring Indian Institute of Mass Communication, New Delhi, and its five regional centres as a deemed-to-be-university under distinct category. IIMC is committed to give its best to promote education, training, and research in mass communication,” the institute wrote in a post on X.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Budget 2024 highlights: Allocation for FAME subsidy for electric vehicles

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government has allocated ₹2,671 crore under the scheme for Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India for fiscal year 2024-25.

The government scheme, popularly known as FAME India, is aimed at promoting the adoption of electric and hybrid vehicles in the country.

As the FAME-II scheme, which had an outlay of ₹10,000 crore, expires on March 31 this year, the new outlay under FAME III will have a tenure of two years. However, the subsidies per vehicle under the new scheme are likely to be lower compared to FAME II, the sources said.

The history of the FAME subsidies for electric vehicles in India so far

Launched in 2015 as part of the National Mission on Electric Mobility, the scheme’s ultimate goal is to reduce the country’s dependence on petrol and diesel vehicles. Under the scheme, the government offers subsidies to EV or hybrid vehicle manufacturers and buyers. The subsidies or incentives offered under the scheme are determined based on the vehicle category and battery specification.

Since its launch, the scheme has received multiple extensions and the current phase is valid till March 2024.

Under FAME Phase I, the government focused on four key points — demand creation, technology, pilot project, and charging infrastructure.

The first phase of the FAME India Scheme was rolled out on April 1, 2015, for five years with a budget outlay of ₹895 crore.

The second phase of this scheme was launched on April 1, 2019, and will continue till March 31, 2024. Under this phase, the government is focused on the electrification of public and shared transportation. FAME II has a budgetary allocation of ₹ 10,000 crore. Out of the total allocation, 86% of the fund has been deployed to increase demand for EVs in the country.

In Budget 2023, Finance Minister Nirmala Sitharaman nearly doubled the FAME II outlay to ₹5,172 crore. In FY 2020, the government allocated ₹500 crore for FAME II. The allocation received a cut in FY 21 and came down to ₹318 crore. In FY22, the government allocated ₹800 crore and the total allocation increased to nearly ₹2,900 crore in FY23.

The government has increased the total funding for FAME II by another ₹1,500 crore. The Department of Expenditure (DoE), on January 2, approved the proposal to increase the outlay from ₹10,000 crore to ₹11,500 crore.

Click here for live updates of Budget 2024

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Syphilis cases shoot up in US; here’s everything you need to know about the STD

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Cases of syphilis, once on its way to being eradicated, are soaring in the US with numbers hitting levels not seen for 70 years, according to the Centers for Disease Control and Prevention.

More than 200,000 cases were recorded in 2022, the latest figures show, up 17% on the previous year. If left untreated, the disease can cause blindness and even death.

Here’s everything you need to know about the disease, its symptoms, how it’s diagnosed and how it’s treated.

What is syphilis?

Syphilis is a sexually transmitted disease caused by the bacterium Treponema pallidum.

How does syphilis spread?

The infection spreads from person to person through direct contact with a syphilitic sore, knows as a chancre, which usually occurs around the sexual organs, anus, lips or mouth, according to the CDC. It can also be spread from pregnant women to their unborn babies, known as congenital syphilis.

What are the symptoms of syphilis?

One of the problems with syphilis is that it looks like many other diseases so it can be difficult to diagnose. Syphilis has four distinct stages and the earlier it’s diagnosed, the better. The primary stage, according to the CDC, is a sore on the point of entry to the body, which is usually round and painless and occurs on average 21 days after infection occurs. That sore will likely clear up, but without treatment the disease will progress to the secondary stage.

Stage two is usually a non-itchy rash on the hands and feet, which may be accompanied by symptoms including fever, sore throat, headaches, weight loss and fatigue. Again, without treatment it can progress to stage three — the latent stage — where the infection can remain undetected in the body for years. Stage four, known as the tertiary stage, can occur up to 30 years after a person is infected. While rare, this can attack the heart, brain and nervous system, causing blindness or even death.

How do you test for it?

The most common way of testing for syphilis is through a simple blood test, while some medical providers may also swab for fluid from a syphilitic sore.

How do you treat syphilis?

In a word, antibiotics. These may be administered as injections or tablets. However, while antibiotics will treat the infection, they may not undo any of the damage the disease has caused the body.

What happens if a pregnant woman has syphilis?

Syphilis in pregnancy can be highly dangerous for the unborn child as the disease can be passed to fetuses and babies with deadly effects. In 2022, congenital syphilis caused 231 stillbirths and 51 infant deaths in the US, according to CDC data.

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Why is syphilis on the rise now?

Rates of syphilis have been rising for years amid funding cuts to local public health agencies and transmission increases associated with more drug use and unprotected sex. The rise has been compounded by a shortage of penicillin.

How do you protect yourself?

The only foolproof way is to abstain from sex. However, condoms are an effective barrier against infection, providing they stop a sexual partner from coming into contact with sores.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Budget 2024: Want to see an indication of green transition funds, says CII Director General Banerjee

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Chandrajeet Banerjee, Director General of the Confederation of Indian Industry (CII), said that he expects to see indication of the allocation of funds for green transition in the Interim Budget which will be announced on Thursday by Finance Minister Nirmala Sitharaman.

Speaking during a CII panel discussion, part of CNBC-TV18’s special ‘Budget Countdown’, Banerjee highlighted that India has emerged as one of the leaders in combating climate change. India has taken action with regards to electric mobility, green hydrogen and slashing fossil fuel consumption. He also emphasised the launch of the Global Biofuel Alliance at the G20 Summit in India in September 2023, which aims to boost biofuel consumption.

Banerjee said, “Climate change is a space where India has taken phenomenal leadership, and you are seeing the type of action taken with regards to electric mobility and many other areas, be it the Bio Fuel Alliance, green hydrogen, or the way we are bringing down fossil fuel.”

He stressed on the need to define ‘green’ in the budget to refrain from greenwashing. To achieve the goal of net-zero India by 2070, there is a need to penetrate the hard-to-evade sectors.

Banerjee said, “There are three different areas that would be of critical importance: the green transition fund, the definition of ‘green’, and bringing different pathways onto one page: ministries, states and industry sectors.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Budget 2024 Highlights: Road infrastructure project Bharatmala Pariyojana gets a boost

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Bharatmala Pariyojana is an ambitious infrastructure project of the government. It was launched in 2015. The programme aims to transform the country’s road infrastructure by building a robust, safe and efficient network of highways to connect major industrial zones, state centres and remote areas across the country.

The programme is being executed under the administrative control of the Ministry of Road Transport and Highways (MoRTH). The National Highways Authority of India (NHAI), National Highways and Infrastructure Development Corporation, and the roads wing of the ministry are the implementing agencies for Bharatmala Pariyojana.

To give a boost to the road infrastructure, Finance Minister Nirmala Sitharaman had increased the allocation to the Road Transport Ministry by 36% to ₹2.7 lakh crore in Union Budget 2023 from ₹1.99 lakh crore in FY 2022-23.

Budget 2024 raised the allocation for the Road Ministry marginally to ₹2.78 lakh crore. Out of the outlay, ₹1.68 lakh crore is earmarked for investment in NHAI for the development of national highway corridors under Bharatmala Pariyojana.

The NHAI had received a 14.7% boost in the budgetary allocation for FY 2023-24 at ₹1.62 lakh crore against revised estimates of over ₹1.41 lakh crore for FY23.

Under the programme, the government plans to develop 34,800 km of national highway corridor at an approved outlay of ₹5.35 lakh crore.

As of November 2023, a total of 15,045 km of the total project of 26,418 km have been completed. An amount of ₹4.10 lakh crore has been spent under Bharatmala Pariyojana up to October 2023.

Bharatmala Pariyojana aims to build a nationwide road network that will reduce travel time, leading to faster freight movement and lower logistics costs. An efficient road network connecting major cities with remote areas will also propel India’s economic growth.

Under the programme, economic corridors connecting major industrial zones and ports to carry a significant portion of India’s freight traffic will be built.

Inter-corridors, connecting economic corridors, and feeder routes joining remote areas and agricultural hubs with the main network will be constructed. The programme also looks to improve the existing high-traffic corridors like the Golden Quadrilateral and North-South & East-West corridors.

Strengthening strategic border connectivity and promoting trade with neighbouring countries have also been part of the programme.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Budget 2024 highlights: We are aiming for a fiscal deficit target of 5.1% for FY25, says FM Sitharaman

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Budget 2024 highlights: The Finance Minister said that the government will present the detailed roadmap for Vikasit Bharat in the July Budget.  She said that the government’s highest priorities are the needs and aspirations of Garib, Mahilayen, Yuva and Annadata. FM also said that besides gross domestic product, the government is equally focused on a more comprehensive GDP – governance, development and performance.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow