From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Fri, Jul 30, 2010 at 3:25 PM
Subject: Releases.........pt1
Press Information Bureau
Government of India
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Ministry of Steel
Production of Crude Steel Increases in 2009-10
New Delhi: July 30, 2010.
The Minister of State in the Ministry of Steel, Shri A. Sai Prathap has said that the production of crude steel in the country has increased in the year 2009-10 in comparison to the year 2008-09. However, percentage of growth of steel has declined marginally in the year 2007-08 and 2008-09 in comparison to the year 2006-07. Following is the details of production of crude steel in the country: -
| Crude steel production ( in million tonnes) | ||
| Year | Quantity | % change over last year |
| 2006-07 | 50.82 | 9.4 |
| 2007-08 | 53.86 | 5.9 |
| 2008-09 | 58.44 | 8.5 |
| 2009-10* | 64.88 | 11 |
| Source: Joint Plant Committee (JPC); *= Provisional | ||
In a written reply in the Rajya Sabha today he said, the production of steel depends upon inter play of various complex factors such as production capacity, capacity utilization, commercial viability, availability and cost of raw materials and the demand-supply situation in the global steel market. Moreover, the percentage growth is also a relative factor of the base line, which is steadily increasing on year by year basis.
Shri Sai Prathap said, low level of awareness on the varied benefits of using steel and the perception of steel as an expensive item amongst village people are the main reasons for steel consumption not picking up in rural areas of the country. Additionally, there are also related issues like inadequacy of infrastructure, which prevents selling of steel in villages/rural market, to be cost effective. To understand the pattern and potential of steel consumption in the Indian rural market, the Government has initiated a study on assessment of steel demand in the rural areas of the country.
The Minister said, the study would cover 300 districts, 1500 villages, 4500 Manufacturers and 8000 Retailers, spread over all the 35 States and Union Territories of the country. The objective of the study is to assess trends in consumption pattern of different items of steel in the rural areas, by examining both a) the demand side i.e. Household and Community/Institutional uses; and b) the supply side i.e. Manufacturers, Retailers. Additionally, the study would examine the potential for increasing the level of steel consumption, the nature of shifts and the extent of threat of substitution from competing materials.
nsk/db/dk/kol/14:25 hrs.
Press Information Bureau
Government of India
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Ministry of Chemicals and Fertilizers
Allotment of Urea for Monsoon Season
New Delhi: July 30, 2010.
The cumulative requirement, availability and sales of urea fertilizers in Gujarat state during current Kharif season (1st april'10 to 28th July'10) has been as under:
(Qty. in 000 MTs)
| Product | Cumulative requirement | Stock pre-positioned during March'10 against the requirement of Kharif'10 | Net receipt (including opening stock) | Total availability | Cumulative sales (upto 28.7.2010) |
| Urea | 565.00 | 38.83 | 527.39 | 566.22* | 504.94 |
*Includes 38.33 MT of urea stock pre-positioned during March'10 against requirement of Kharif'10.
Supplies of urea to Gujarat by September, 2010 are planned as per the assessed requirement of the state.
This information was given by the Minister of State for Chemicals & Fertilizers Shri Srikant Kumar Jena in a written reply in Rajya Sabha today.
dnm/pkm/sb/dk/kol/14:26 hrs.
Press Information Bureau
Government of India
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Ministry of Science & Technology
New India-UK Joint Research Programme Initiated
Pound 45 Million Partnership Announced to Support AffordableHealthcare
New Delhi: July 30, 2010.
A 45 million Pound partnership between Department of Bio-Technology, Government of India and Wellcome Trust, UK has been announced to support the development of innovative healthcare products at affordable costs. Two other new India-UK joint research projects – "Bridging the rural/urban divide" to provide technological solutions to improve the quality of life of rural inhabitants in both countries and multi disciplinary research partnerships to develop the next generation of environmentally friendly fuel cell technologies were also discussed when Sh. Prithviraj Chavan, Minister for Science and Technology met David Willets, Minister of State for Universities and Science, UK, in New Delhi last evening.
Elaborating on the DBT-Wellcome Trust Initiative, Sh. Prithviraj Chavan said that this is the next phase of initiative announced two years ago wherein prestigious fellowships supporting the most promising researches were started in the Wellcome Trust-DBT alliance. Now the partnership, wherein DBT and the Wellcome Trust are contributing 22.5 million pounds each, would result in translation to projects for societal benefits. The aim is to bring together researchers from both public and private sector, largely working in India, to develop innovative devices, diagnostic medicines and vaccines that can reach the greatest number of beneficiaries at affordable cost. The focus would be on vaccines, technologies for rehabilitation and women and child care. Sh. Chavan said that affordable health is top priority for the government and use of high technology for low cost new devices would be encouraged on priority.
The Deptt. of Science & Technology and the Research Council UK have also agreed to invest three million pounds each, towards Fuel Cell research. The proposed initiative will address systems research programmes in fuel cell technologies including energy support through joint India-UK academic programmes. Sh. T. Ramasami, Secretary, Department of Science & Technology informed that Indo-UK joint workshop on fuel cell technology would be organized during September 15-17, 2010 at Centre for Fuel Cell Technology Chennai.
The aim of the other initiative " Bridging the Rural and Urban Divide" is to provide technological solutions for making rural living an economically and technologically sustainable option. The area of research focus include robust infrastructure for sustainable energy for all, wherein solutions have the potential to be owned, modified and evolved by users. The Secretary Science & Technology informed that India and UK would be contributing six million pounds each towards this project. An Indo-UK workshop on bridging the urban and rural divide is being organized at Vardha from 19 to 21 October 2010.
sbs/rs/dk/kol/14:27 hrs.
Press Information Bureau
Government of India
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Ministry of Finance
Release of Interest Subvention to Public Sector Banks etc. to ensure short term crop loans to farmers
New Delhi: July 30, 2010.
The Union Cabinet today gave its approval for the release of a sum of Rs.4,868 crore (subject to actuals) as interest subvention to Public Sector Banks (PSBs), Regional Rural Banks (RRBs) and Cooperative Banks and to NABARD for refinance to RRBs and Cooperative Banks at concessional rates to reimburse the amount of interest subvention to ensure that the farmer, in general, should receive short term crop loan at 7 percent per annum ( 5 percent for prompt payers) with an upper limit of Rs. 3 lakhs on the principal amount during 2010-11.
BACKGROUND:
The Government has since 2006-07 been subsidizing short term crop loans to farmers in order to ensure the availability of crop loans to farmers for loans up to Rs. 3.00 lakh, at 7 percent per annum. This Interest Subvention Scheme has been further continued for 2010-11 for Public Sector Banks, Regional Rural Banks and Cooperative Banks. In the year 2009-10, an additional subvention of one percent was being provided to farmers who repay on time. This has been increased from one percent in 2009-10 to two percent in 2010-11. Thus, the effective rate of interest for such farmers will be five per cent per annum.
The banks have been consistently meeting the targets set for agriculture credit flow in the past few years. For the year 2010-11, the target for agricultural credit flow has been raised to Rs.3,75,000 crore from Rs.3,25,000 crore in the year 2009-10.
hs/lv/dk/kol/14:27 hrs.
Press Information Bureau
Government of India
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Ministry of Steel
Price Rise of Steel
New Delhi: July 30, 2010.
The Minister of State in the Ministry of Steel, Shri A. Sai Prathap has said that the Ministry of Steel has not carried out any study to examine the impact of price rise of steel on common man of the country. In a written reply in the Rajya Sabha today he said, however, a number of representations have been received from Steel Consumers Associations/ Federations, during March - April 2010, wherein they have mentioned their concern about the price rise of steel, on the small and medium sector industries. Moreover, during July 2010, the prices of various steel products have come down by 4% to 13%, from the earlier prices in March-April, 2010.
nsk/db/dk/kol/14:27 hrs.
Press Information Bureau
Government of India
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Ministry of Steel
Disinvestment of Steel Authority of India Ltd.
New Delhi: July 30, 2010.
The Minister of State in the Ministry of Steel, Shri A. Sai Prathap has said that the Government has decided to disinvest 10% of its shareholding in Steel Authority of India Ltd. (SAIL) and for raising of 10% of additional equity by SAIL, in two discrete tranches to be issued at appropriate times in consideration of SEBI guidelines and prevailing market conditions.
In a written reply in the Rajya Sabha today he said, the actual amount that would be raised through disinvestment as well as from Further Public Offer would depend upon a number of factors including inter-alia the prevailing market conditions, share price and investors' interest. It is informed by SAIL that some of the unions have resorted to distribution of pamphlets and also staged demonstrations protesting against the decision regarding disinvestment of SAIL. The disinvestment of Government of India's shareholding in SAIL is in line with the Government's policy to develop larger people's ownership of Central Public Sector Enterprises with Government retaining majority shareholding and control.
nsk/db/dk/kol/14:28 hrs.
Press Information Bureau
Government of India
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Ministry of Railways
Vacant Posts in NorthEast Frontier Railway
New Delhi: July 30, 2010.
The number of vacant posts in safety category on Northeast Frontier Railway as on 01.04.2009 is about 2265. The department-wise position is as under:-
Departments Vacant Posts
Civil Engineering 1156
Mechanical 108
Signal &Telecom 100
Transportation 552
Other safety categories 349
Total 2265
Arising and filling of posts is a continuous process. Vacancies arise due to normal retirement, voluntary retirement, deaths, promotions etc. Vacancies are filled up primarily through open market recruitments, promotions and through companionate ground appointments. Notifications for expeditious filling up of vacant posts have been issued.
This information was given by the Minister of State for Railways, Shri E. Ahamed in a written reply in Rajya Sabha today.
hk/lk/tr/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
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Ministry of Railways
Setting Up of Wind Mill Power Plants by Railways
New Delhi: July 30, 2010.
Wind mill power plants are generally selected on the basis of power density map issued by the Ministry of New and Renewable Energy, technical feasibility of connecting it to the grid and availability of fund.
During the current financial year, two wind mill plants of 10.5 MW capacity each, estimated at Rs. 66.5 crore each have been sanctioned, one in Jaisalmer (Rajasthan) for North Western Railway and the other in Tamilnadu for Southern railway. During the current financial year, Rs. 1.25 lakh has been allocated for the initial preparation stage.
Each wind plant is expected to generate power about 22 million units per annum. These plants are likely to be operational within next two years.
This information was given by the Minister of State for Railways, Shri E. Ahamed in a written reply in Rajya Sabha today.
hk/lk/tr/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
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Ministry of Railways
Railways' Requirement for Extra Rakes by 2020
New Delhi: July 30, 2010.
The number of rakes including those of private container operators and others moving freight on the Indian Railways system is approximately 3700 as on 20th July, 2010. As per the projection of the Indian Railways which has been detailed in the Vision-2020 document, Indian Railways expects to carry approximately 2165 million tonnes in the year 2020. For this, additional requirement of rakes has been estimated at 4985 by the year 2020. However, these estimates are subject to change due to the continuous technological upgradation in wagon therein efforts are being to improve the payload to tare ratio.
The cost of one rake comprising 58 BOXNHL wagon at today's price is estimated at Rs. 16.80 crore. The cost of locomotive varies from type to type. Newer locomotives like WDG4 and WAG9 tend to cost more in the initial phase but with gradual process of indigenisation, the costs may come down. As on date, the cost of diesel locomotives, WDG-3A and WDG-4 is Rs 6.6. crore and Rs. 11.5 crore respectively and the cost of electric locomotives, WAG-7 and WAG-9 is Rs 5.78 crore and Rs. 12.77 crore respectively.
This information was given by the Minister of State for Railways, Shri E. Ahamed in a written reply in Rajya Sabha today.
hk/lk/tr/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
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Ministry of Railways
Involvements of Moaists in Train Accidents
New Delhi: July 30, 2010.
The number of train accidents due to sabotage by Maoists reported during the years 2008, 2009 and 2010 (January to June) are six train accidents in the year 2008, three in 2009 and eight train accident in 2010 (January to June) in which Maoists are involved.
The security scenario in the country has changed drastically in the recent past. There has been a rise in Maoist attacks on critical infrastructure of Railways. The Railways because of its vast network and expanse have become a soft target of Maoists/extremists.
'Policing of Railways' is a state subject and prevention of crime, registration of cases and their investigation and maintenance of law and order in Railway premises are the statutory responsibility of the State Government concerned which they discharge through their Government Railway Police (GRP) and civil police. Railways bear 50 per cent of expenditure on the GRP. Railway Protection Force (RPF) is supplementing the GRP in controlling crime in Railways.
However, following measures are being taken by the Railways for safety of passengers:-
• Nominated trains are escorted by GRP and (RPF) on the vulnerable sections/areas.
• Ministry of Home Affairs, Govt. of India, has issued directions to the State Governments of Andhra Pradesh, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Bihar and West Bengal to make additional deployment of civil police, GRP and Central Para Military Forces to avoid attacks on Railway infrastructure and avert any likely disasters.
• Coordination meetings are held by the General Managers and Chief Security Commissioners/RPF at Zonal level and Divisional Railway Managers and Senior Divisional Security Commissioners/RPF at Divisional level with the State Governments and Districts Administrations respectively.
• An integrated Security System costing Rs. 353 crore has been approved to strengthen surveillance mechanism over sensitive and vulnerable railway stations. In the first phase, it is being implemented at 202 sensitive railway stations.
This information was given by the Minister of State for Railways, Shri E. Ahamed in a written reply in Rajya Sabha today.
hk/lk/tr/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
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Ministry of Railways
Incidents of Crimes in Trains
New Delhi: July 30, 2010.
No case of burglary was reported in trains during the last two years, but there is marginal increase in the cases of loot and other crimes in trains over Indian Railways during the year 2009 as compared to the year 2008.
Prevention of crime, registration of cases, their investigation and maintenance of law and order in Railway premises as well as on running trains are the statutory responsibility of the State Police, which they discharge through Government Railway Police (GRP) of the State concerned. As such the cases of crime on Railways are reported to, registered and investigated by the GRP.
However, to provide better security to the traveling passengers in trains and passenger areas, Railway Protection Force (RPF) is deployed to escort important trains to effectively supplement the efforts of the State Government in controlling crime on the Railways.
Railways take several measures for the security of passengers. These include; a) 1275 trains escorted by RPF on an average, in addition to 200 trains escorted by Government Railway Police of different States. b) An Integrated Security System consisting of electronic surveillance of vulnerable stations through CCTV camera network, access control, anti-sabotage checks has been approved to strengthen surveillance mechanism over 202 sensitive and vulnerable railway stations. c) Regular coordination meeting are held with State Police at all levels to ensure proper registration and investigation of crime by Government Railway Police. d) Public awareness against crime like drugging of passengers is done through regular announcements at stations and in trains. and e) An amendment is under examination in the RPF Act to enable RPF to deal with the passenger related offences.
This information was given by the Minister of State for Railways, Shri E. Ahamed in a written reply in Rajya Sabha today.
hk/lk/tr/dk/kol/14:30 hrs.
Press Information Bureau
Government of India
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Election Commission
Dr. S.Y. Quraishi Assumes Charge as New CEC
New Delhi: July 30, 2010.
The Election Commissioner, Dr. S.Y. Quraishi, has assumed charge as the 17th Chief Election Commissioner of India (CEC) , succeeding Shri. Navin. B.Chawla here today.
Prior to this, Dr. S.Y. Quraishi has served as Election Commissioner for 4 years since 30th June, 2006. Belonging to 1971 batch (Haryana Cadre) of Indian Administrative Service, Dr. Quraishi served as Secretary in the Ministry of Sports and Youth Affairs. During his long distinguished career spanning about 4o years, he held several key positions including Special Secretary in the Health Ministry, Director General of National AIDS Control Organisation and Director General, Doordarshan.
Reading out a statement soon after assumption of charge, Dr. Quraishi said "I take over this office with a sense of deep honour and pride. Election Commission is one of the most valuable gifts of the Indian Constitution to the people. I had the opportunity of serving this august institution with equal pride as Election Commissioner for the last four years. While the framers of the Constitution insulated the Election Commission from all possible pressures, it is the judiciary that has zealously guarded the independence of the commission against any assault. The Supreme Court has ensured that this Commission only grows stronger."
Listing out his priorities, Dr. Quraishi said "Enhancing Voters Participation and restricting the role of money power in elections are among the emerging challenges. These will receive due priority. We are already working systematically to achieve a perfect electoral roll at the earliest"
He further added " we would continuously strive to deliver free and fair election wherever and whenever required. At the same time, despite the strength of the Commission's heritage, our systems are continuously evolving. We not only deal with issues as we confront them, we try to anticipate several of them".
The following is the text of the statement by Dr. Dr. S.Y. Quraishi, Chief Election Commissioner:-
"I take over this office with a sense of deep honour and pride. Election Commission is one of the most valuable gifts of the Indian Constitution to the people. I had the opportunity of serving this august institution with equal pride as Election Commissioner for the last four years. While the framers of the Constitution insulated the Election Commission from all possible pressures, its the judiciary that has zealously guarded the independence of the Commission against any assault. The Supreme Court has ensured that this Commission only grows stronger.
In our multi-member Commission that has the principle of equality as its hallmark, any transition is marked by continuity. This has also contributed to the impartiality and absolute neutrality of the Commission at all times.
In great institutions, priorities do not change overnight; they do not change radically either. Our basics are perennial. We would continuously strive to deliver free and fair election wherever and whenever required. At the same time, despite the strength of the Commission's heritage, our systems are continuously evolving. We not only deal with issues as we confront them, we try to anticipate several of them.
Enhancing Voters Participation and restricting the role of money power in elections are among the emerging challenges. These will receive due priority. We are already working systematically to achieve a perfect electoral roll at the earliest.
We plan to institutionalize electoral training and exchange of experience at an international scale and quality. This would be backed by documentation of innovative electoral practices in order to strengthen election management not only in India but also across the world.
I am encouraged by the fact that some of the overdue electoral reforms have started receiving attention of the Government and the Parliament. I have hope that other important reforms would find acceptance at an early date.
Elections in India are known not only for their scale, but also for their credibility. I realise the responsibility that the Election Commission carries towards keeping India's democracy firmly on the rails. I have abiding faith that the Commission will continue to deliver on its mandate, in the face of all challenges old and new, as it has always done in the past. Election Commission of India is an institution in which the nation places a great trust. It would be my utmost endeavour to prove myself worthy of this trust. Let me use this occasion to seek the support of all stakeholders, especially the people of India in the discharge of my sacred duties".
rm/jl/dk/kol/14:30 hrs.
Press Information Bureau
Government of India
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Ministry of Chemicals and Fertilizers
Prior Price Approval for Medicines
New Delhi: July 30, 2010.
Minister of State for Chemicals and Fertilizers Shri Srikant Kumar Jena today informed the Rajya Sabha that it is mandatory on part of manufacturers to get prior price approval for medicinal formulations from the National Pharmaceuticals Pricing Authority(NPPA) even if one of the ingredients belongs to scheduled category under Drug Price Control Order (DPCO).
In a written reply the Minister said, as and when the cases relating to sale of the scheduled medicinal formulation without prior price approval are brought to the notice of NPPA, action has been taken on a case to case basis including issuance of show cause notices to the defaulting companies and fixation of price of such formulation as per relevant provisions of Drug (Prices Control) Order, 1995. NPPA has referred 39 cases to the State Drug Controllers for taking appropriate prosecution action against defaulting companies.
dnm/pkm/sb/dk/kol/14:30 hrs.
Press Information Bureau
Government of India
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Ministry of Housing and Urban Poverty Alleviation
Rajiv Awas Yojana
New Delhi: July 30, 2010.
The Minister of Housing and Urban Poverty Alleviation Kumari Selja has said that the details of recommendations of the expert committee constituted for the formulation of proposed Rajiv Awas Yojna (RAY) and the action taken by the Government thereon are annexed.
In a written reply in the Lok Sabha today she said, the number of houses to be constructed and the total expenditure to be involved would depend upon the pace of the States willing to assign property rights to slum dwellers and prepare slum-free city and plans. An allocation of Rs. 1270 Crore has been budgeted for the current financial year.
She said, RAY is not facing financial crunch. It is up to the States to involve private players depending upon feasibility study and the slum redevelopment model chosen after conduct of slum survey and stakeholders' consultation. There are no hurdles faced by RAY. The preparatory phase of RAY has been launched with the Slum Free City Planning Scheme under which Rs. 60 Crores have been released to States during 2009-10 to take up the tasks of conducting slum surveys, developing slum MIS, GIS mapping of slums, integration of MIS with GIS and preparation of slum free city plans.
Annexure
The Expert Committee constituted under the chairmanship of Shri Deepak Parekh for critical examination of the Rajiv Awas Yojana (RAY) and to make suggestions on strategies, funding pattern and other features of the scheme submitted its report on 26.4.2010. The key recommendations interalia are as under:
· Duration of RAY should extend beyond 5 years to 20 years.
· The scheme should be part of Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
· The implementation of reforms must be ensured and funds for states should be ring fenced.
· The participation of slum community in decision making should be ensured.
· The central Subsidy should be attractive for incentivizing States.
· There should be less emphasis on PPP for solving the slum problem in small cities.
· A Mortgage Guarantee Fund should be created.
· A corporate structure at ULB level would be appropriate to ensure proper implementation.
· A credit enabling environment needs to be created to facilitate access to long term finance at a concessional rate for the beneficiaries.
· Urban land policies need to be revised and made inclusive.
· The RAY City Plans should be integrated into JNNURM (UIG & UIDSSMT) and provision of city infrastructure should be made accordingly.
· The starting point of RAY should be the provision of tenurial security by the states as assignment of property right would take time.
· Flexibility of strategies based in the morphology of each slum should be allowed.
· Rental housing of at least 30% rental housing in in situ slums should be allowed.
Action taken by the Government:
The Ministry has revised the parameters of the scheme taking into consideration the above comments/suggestions and is in a process of consultation with relevant agencies/Ministries. The preparatory phase of RAY under the "Slum-free City Planning" scheme has been launched and detailed guidelines issued for undertaking various preparatory activities such as slum surveys and slum MIS, GIS mapping of slums, integration of GIS and MIS, preparation of slum free city and state plans etc. The budget of the first phase of the above scheme is Rs. 120 Crore, of which Rs. 60 Crore has been released for 20 States in 2009-10. A budget of Rs. 1270 Crore has been allocated for RAY for the year 2010-11.
ad/db/dk/kol/14:30 hrs.
Press Information Bureau
Government of India
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Ministry of Housing and Urban Poverty Alleviation
Model Real Estate Bill
New Delhi: July 30, 2010.
The Minister of Housing and Urban Poverty Alleviation Kumari Selja has said that the Model Real Estate (Regulation of Development) Act 20_ will be finalized by the Ministry after taking into consideration suggestions of all business Chambers and other stakeholders including those of Associated Chambers of Commerce and Industry (ASSOCHAM).
This information was given in a written reply in the Lok Sabha today.
ad/db/dk/kol/14:31 hrs.
Press Information Bureau
Government of India
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Ministry of Housing and Urban Poverty Alleviation
Indiramma Housing Programme
New Delhi: July 30, 2010.
The Minister of Housing and Urban Poverty Alleviation Kumari Selja has said that the Government of Andhra Pradesh has informed that it has not submitted any proposal to Union Government for assistance for the INDIRAMMA Housing Programme.
This information was given in a written reply in the Lok Sabha today.
ad/db/dk/kol/14:31 hrs.
Press Information Bureau
Government of India
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Cabinet
Release of Interest Subvention to Public Sector Banks etc. to ensure short term crop loans to farmers
New Delhi: July 30, 2010.
The Union Cabinet today gave its approval for the release of a sum of Rs.4,868 crore (subject to actuals) as interest subvention to Public Sector Banks (PSBs), Regional Rural Banks (RRBs) and Cooperative Banks and to NABARD for refinance to RRBs and Cooperative Banks at concessional rates to reimburse the amount of interest subvention to ensure that the farmer, in general, should receive short term crop loan at 7 percent per annum ( 5 percent for prompt payers) with an upper limit of Rs. 3 lakhs on the principal amount during 2010-11.
BACKGROUND:
The Government has since 2006-07 been subsidizing short term crop loans to farmers in order to ensure the availability of crop loans to farmers for loans up to Rs. 3.00 lakh, at 7 percent per annum. This Interest Subvention Scheme has been further continued for 2010-11 for Public Sector Banks, Regional Rural Banks and Cooperative Banks. In the year 2009-10, an additional subvention of one percent was being provided to farmers who repay on time. This has been increased from one percent in 2009-10 to two percent in 2010-11. Thus, the effective rate of interest for such farmers will be five per cent per annum.
The banks have been consistently meeting the targets set for agriculture credit flow in the past few years. For the year 2010-11, the target for agricultural credit flow has been raised to Rs.3,75,000 crore from Rs.3,25,000 crore in the year 2009-10.
hs/lv/dk/kol/14:31 hrs.
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Palash Biswas
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http://nandigramunited-banga.blogspot.com/
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