Coal Blocks Auction to Start by June

For the first time, the government will auction coal blocks by June-end and seven explored mines will be up for grabs for companies other than power firms. 

“We had a paper given to us by CII which has worked on the issues and we will be having a presentation by CII very shortly on it”, Coal Secretary, S K Srivastava

Recently, a parliamentary panel had criticised the government for undue delays in allotment of coal mines through auction route amid dry-fuel crunch faced by the country.

The government is constrained by the fact that they don’t have too many explored blocks on offer and the power sector needs large blocks. It cannot do with small blocks. Given the background, they might be coming up with the auction of six-seven blocks.

The Coal Ministry has also approached the Ministry of Environment and Forests (MoEF) seeking a feedback from it on the seven blocks.

The Coal Ministry started debating so as to whether they can have some environmental comfort and therefore took up these seven blocks with the Ministry of Environment; they have said that as long as the Environment Ministry can  assure that these blocks don’t fall in inviolate areas that will be a sufficient push.

Srivastava also said that exploration is the biggest constraint with regard to the auction of the mines. But still have not been able to really tackle the issue as to how to auction a regionally explored block.

Source: Economic Times

Goods and Services Tax Holds Key to Growth

The Goods and Services Tax (GST) is a reforms initiative that seeks to replace all indirect taxes levied on goods and services by the Centre and States and make it comprehensive for most goods and services. Some of the States have been resisting it on the ground that it would infringe on their financial autonomy.

CII feels that introduction of the contentious GST is a high priority area for the country to improve its economic growth and gross domestic product (GDP). It will also exert pressure on the States opposing it to agree to its implementation.

With the CII concluding that accelerated economic growth is vital in the present circumstances, CII’s new President, S Gopalakrishnan, stressed that reforms like implementation of the GST was a must.

“It is a high priority area. If GST comes into force, it will add at least 1.2 per cent to the GDP. We have met several chief ministers and we are hopeful to convince them”, he said.

The CII president said with moderation of inflation rates, check on fiscal deficit and positive outlook on current account deficit suggest that a growth percentage of around 6.2 per cent was achievable in 2013-14.

Nurturing the Positive Powers of India

Dr APJ Abdul Kalam, fondly known as the ‘People’s President’, shared his thoughts on the ‘power of a strong society and how best it can be leveraged in today’s environment’. He was addressing a jam-packed audience of students at the Indira Institute of Commerce and Science, at an event organised by CII’s India@75.

A scientist, an orator, an author, a poet and above all a visionary, Dr Kalam had envisioned a developed India by 2020 built by and for the youth of this nation. During his speech, Dr Kalam said that “the ignited mind of the youth is the most powerful resource on the earth, under the earth and above the earth. If you have an aim in life, continuously acquire the knowledge, work hard with confidence to win and have the courage to defeat problems and succeed with a righteous heart; you will definitely succeed in all your missions”. He highlighted Agriculture and Food processing, Education and Healthcare, Information and Communications Technology, Infrastructure, Reliable and Quality Power, and Self Reliance on Critical Technologies as important pillars in order to achieve an inclusive, sustainable and developed India by 2020 – an ideology and mission that is in complete consonance with the work being carried out by CII, India@75 and Young Indians.

He suggested to the students, gathered from different colleges across the city, to select one important task pertaining to any of the ten pillars enshrined in his Vision Document 2020, as per their interest and core competence. Dr Kalam mentioned that by doing so the students could become significant partners in national development.

There was a surprise in store for Dr Kalam when a student asked him whether Mr Anna Hazare losing mass support would impact the anti-corruption movement in the country. While replying, Dr Kalam said that corruption is a deep-rooted sociological phenomena which needs to be eradicated, beginning from our homes. “We should have the courage to remove corruption beginning from our homes itself.”

While answering questions on the role of Information Technology, Dr Kalam reiterated that IT has to work in tandem with other advanced technologies in order to find alternatives for problems in the agricultural sector. He also said that in the years to come, technology will have a crucial role in addressing the growing food grain demand in the country.

“Each one of you should follow the pillars in making India a nation where there is no crime against women and children, no rural-urban divide and equal opportunities in terms of education and health care. I do hope India@75 provides a bridge to the youth to contribute”, said Dr Kalam while drawing parallels between CII, India@75 and India Mission 2020 which according to Dr Kalam is also meant to influence the youth to work hard in the run up to the year 2020, to transform India.

Learn More about India@75

Gujarat needs to retain talent for growth of IT sector

CII has contemplated a task group in the state of Gujarat for the Service and IT industry and will work on ways to achieve higher growth rate in these sectors.

It’s not that every state can have excellent growth in each and every sector of the economy. Every state has their own strengths.

If you look at the agriculture sector in Gujarat, it has achieved around 10 per cent rate of growth for past ten years. This is fabulous. But to increase the growth rate of state gross domestic product (SGDP), Gujarat could also look at the IT sector.

CII has also discussed the Goods and Services Tax (GST) issue with Modi and It has been a top priority of CII to play an active role in creating the right atmosphere for the implementation of GST.

The drivers for growth would be reforms and governance, inclusive growth and affirmative action, innovation, entrepreneurship and growth of MSMEs and transformation of sectors.

S Gopalakrishnan, President, CII and Co-Founder and Executive Co-Chairman, Infosys, who was in the state for an interactive meet of CII members, also had a meeting with Chief Minister Narendra Modi.