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Railway employees to receive bonus

September 17, 2009 By admin Leave a Comment

New Delhi, Sep 17 (ANI): The Union Cabinet today approved the proposal of the Ministry of Railways for payment of Productivity Linked Bonus (PLB) equivalent to 75 days’ wages for all eligible non-gazetted Railway employees.

The move will benefit 13.05 lakh employees and it will cost the xchequer Rs 889 crore

The salient features of the PLB scheme evolved as a result of review of the scheme and approval of the cabinet on September 23, 2000.

Railways were the first departmental undertaking of the Government of India wherein the concept of PLB was introduced. The main consideration at that time was the important role of the Railways as an infrastructural support in the performance of the economy as a whole.

In the overall context of Railway working, it was considered desirable to introduce the concept of PLB as against the concept of Bonus on the lines of ‘The Payment of Bonus Act – 1965′.

The PLB scheme for the Railways came into force from the year 1979-80 onwards and was evolved in consultation with the two recognised federations viz. All India Railwaymen’s Federation and National Federation of Indian Railwaymen and with the approval of the Cabinet. The scheme envisages a review every three years. (ANI)

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Rare vintage motorbikes displayed in Jaipur

May 26, 2009 By admin Leave a Comment

Jaipur, May 26 (ANI): More than 80 rare motorbikes were displayed in Jaipur, the pink city of Rajasthan.

A ‘Vintage Bike Show’ was organised by the Convoy Bike Riders Club for the first time in the city, which is renowned for its rich cultural and architectural heritages.

Showcasing the best of the bygone era, the show provided a glimpse of the evolution of motorcycle in the last century as bikes as old as 1933 make ‘Parachute Bike.’

“A 1933 make ‘Parachute Bike’ is also participating in the show, which is the oldest bike in the show. This bike was used in military operations. Birju Singh, who is our convoy icon and a retired intelligence officer, is the owner of this bike. Another rare bike is the ‘Indian Aero’, which is owned by Abhijeet Singh, son of V. P. Singh, a lawmaker from Bhilwara. This is also the rarest of all bikes participating in the show,” said Upendra Shastri, the organiser of the Vintage Bike Show.

The bikes were classified into two categories viz. vintage models and classic models. These included BSA 612 cc (1942 model), Hand gear equipped James 1946 model, BSA G 1947 Model, Norman 1951 Model. Almost all models of Royal Enfield were displayed in the show.

Participants were delighted as they got a platform to exhibit their rare mechanical heritages.

“This is 1942 Indian. I think it is one of the rarest bikes not only for this show, but at world level. It is considered as one of the most sought after and rarest bikes. This is the army version and called as the ‘Poni 741′,” said Abhijeet Singh, a participant and proud member of the vintage bike owner’s fraternity.

The old world charm of these vintage beauties was like an everlasting experience, which matures and grows richer with time and becomes part of nostalgia.

The organisers plan to hold more such events in the near future,taking the rally to other cities as well. (ANI)

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Indian Army ascents seventh highest peak

May 8, 2009 By admin Leave a Comment

New Delhi, May 8 (ANI): Six members of the Indian Army team on Friday successfully summitted the seventh highest peak in the world, Mount Dhaulagiri.

At 8167 meter, Mount Dhaulagiri is considered to be one of the most technical, demanding and challenging peaks.

Led by Lieutenant Colonel M S Chauhan, the 17-member expedition team was flagged off by Army Chief General Deepak Kapoor from New Delhi on March 19.

The team reached the Base Camp at 4700 meter on April 7 and established three camps on the mountain by May 1.

On May 7, the summit team left from Camp III, located at a height of 7400 meter. After 14 hours of grueling climb the team finally summitted the peak on Friday after noon.

The summit was a great challenge, as continuous inclement weather during the ascent increased the degree of difficulty.

It was the first ever Indian expedition to Mount Dhaulagiri.

Since 2001, Indian Army has already summitted six out of these fourteen peaks viz Mount Everest, Kanchenjunga, Lhotse, Cho Oyu, Annapurna and now Dhaulagiri. (ANI)

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Nestle expected to post 18% jump in Net profit: Motilal Oswal

April 7, 2009 By admin Leave a Comment

Motilal Oswal Financial Services, one of India’s leading stockbroking and research firm, has come out with earnings estimates on FMCG sector for the quarter ended March 2009.

The company in its latest research report revealed that Nestle’s March quarter sales are expected to go up by 18.7% to Rs 1295.4 crore on Y-o-Y basis.

In addition, Motilal Oswal predicated Nestle’s net profit to go up by 18.5% to Rs 201.5 crore on Y-o-Y basis.

Nestle India Limited (NIL) manufactures products in different categories including milk and milk based products, beverages, prepared dishes, chocolates and confectionery and baby foods. The company manufactures products of truly International quality under brand names such as milkmaid, everyday, cerelac, lactogen, maggi, nescafe, nescafe sunrise, nestea, milo, kitkat, milky bar, munch, polo, nestle milk, nestle dahi, nestle “fruit n milk” and nestle “fruit n dahi”.

Apart from latest products, the company is continuously increasing its efforts to understand the changing lifestyles of modern India and looks forward to consumer needs in order to provide convenience, nutrition and wellness through its products.

It may be noted that company has posted robust top line growth of 20% + continues for 8th consecutive quarter. The company’s net sales for the Dec08 Qtr grew by 21.7% y-o-y to Rs. 1,090 crore.

Sunil Upadhay, technical analyst, revealed that NIL’s turnover and volumes have remained on a good growth trajectory driven by the structural changes undertaken by NIL over the past couple of years namely realignment of internal company structure as multi-focused business structure and reorganization of sales force.

In addition, strong growth in food categories such as Noodles and Chocolates has also assisted NIL grows faster than the overall FMCG industry, he added.

Along with Sunil Upadhay, many other marketing analysts also agreed with the idea that NIL’s long-term growth potential remains intact also in coming years, by considering facts viz. its reputed brand image with consistent product launches, improved distribution network and aggressive price point strategy.

However, looking at the current global environment concerns, they (market analysts) feel that NIL’s volume growth could be affected over the next few quarters due to demand slowdown.

Last month, Nestle India has declared a final dividend of Rs 12.00 per share, making the total dividend for the full year at Rs 42.50 per share.

As per latest figures, the dividend yield ratio comes to 2.99%, making it attractive for investors in the current market scenario. It may be noted that Nestle India has been a steady player in terms of dividend.

After considering various stock recommendation calls as well as technical calls from leading stock analysts, one thing is sure that Nestle India continues to be one of the best performers in the FMCG space in the midst of global slowdown in the economy and financial crisis. In addition, the stock is also capable in achieving new record highs in coming years.

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Union Cabinet approves establishment of National Institute of Biomedical Genomics

February 23, 2009 By admin Leave a Comment

New Delhi, Feb 23 (ANI): The Union Cabinet on Monday gave its approval to the establishment of National Institute of Biomedical Genomics (NIBMG) at Kalyani in West Bengal as an autonomous institution under the aegis of Department of Biotechnology, Ministry of Science and Technology with the budgetary provision of Rs. 210 crores.

The Institute has emphasis towards enhancement of knowledge on human health and disease through genomics.

The Union Cabinet also gave its approval to the proposal to the National Aviation Company of India Limited (NACIL) for setting up of a Joint Venture Company with Singapore air Terminal Services (SATS) for undertaking Ground Handling/Cargo Handling activities at various airports in India.

NACIL and SATS would hold 50:50 equity ratio in the Joint Venture Company.

The JVC would be managed by the Board of Directors consisting of representatives from NACIL and SATS in equal proportion.

The Chairman of the Board and CEO of JVC would alternate between NACIL and SATS for a fixed tenure.

All profits and losses of the business would be shared by NACIL and SATS in the ratio of the equity structure.

The Cabinet approved the National Policy on Skill Development proposed by the Ministry of Labour and Employment.

The objective is to create a workforce empowered with improved skills, knowledge and internationally recognized qualifications to gain access to decent employment and ensure India’s competitiveness in the dynamic Global Labour market.

It aims at increase in productivity of workforce both in the organized and the unorganized sectors, seeking increased participation of youth, women, disabled and other disadvantaged sections.

The Cabinet has also given its approval to the proposal of Ministry of Home Affairs for a package of Central Assistance of Rs. 821.88 crore in respect of Tsunami-affected areas of Andaman and Nicobar Islands under “Rajiv Gandhi Rehabilitation Package”.

Out of the above amount, an assistance of Rs. 15.01 crore was approved for Fisheries Sector.

Apart from these approvals, achievements of the Special Recruitment Drive launched to fill up the backlog reserved vacancies of the Scheduled Castes and Scheduled Tribes also came into focus.

The Union Cabinet on Monday decided to impose restrictions in respect of sugar for a period of four months by keeping in abeyance some provisions of the Central Order dated February 15, 2002 and February 28, 2009 as also to impose stock holding limits and turn over limits on sugar.

This is expected to help in the efforts being taken to tackle the problem of rising prices and improve the availability of sugar.

The Cabinet on Monday approved a proposal from Department of Scientific and Industrial Research (DSIR) on “Encouraging development and commercialization of inventions and innovations; a new impetus” comprising a package of measures viz. (ANI)

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Skiing competition in Himachal Pradesh draws huge crowds

February 20, 2009 By admin Leave a Comment

Manali, Feb 20 (ANI): Thousands turned up for a skiing competition here after nearly twenty years.

The Winter Carnival included a cultural programme, which provided to be a bonus for visitors this year.

“Manali’s cultural programme was based on skiing. After that, for nearly 15-20 years, skiing completely stopped. This year, we have revived it again encourage kids,” said Roop Chand Negi, chairman, Winter Game Association, Himachal Pradesh.

Last year, snow sports were organized in Solang Nala, 17 km from Manali and t was here that the committee decided to include snow sports in Winterarnival 2009.

Ten teams from all over Himachal Pradesh and more than 150 participants participated in this two-day event from February 16-17 conducted at Phatru Top, near Solang Nala in Manali.

There are four types of skiing competition viz Alpine Skiing (Giant Slalom, men and women), Nordic Skiing (5-10 km free style run, men and women), Snow Boarding (men), and Country Skiing (men).

Deepak Thakur of Youngman Winter Sports Club Palchan was named the winner of Alpine Skiing.

“The competition was very tough and many good skiers had come. During the first round, I gained a bit of confidence, but again in the second round I was confident that ‘Yes, I can do it’. My future plan is to participate in the Winter Olympics of 2014,” said Deepak.

Winter Carnival has become the centre of attraction for inbound tourists and snow sports have added more flavour to it.

The annual event, which started in the late ’70s, was declared a state-level festival three years back in a bid to promote tourism in the hilly state.

Tourism is the mainstay of state’s economy, which generates about 100 million dollars annually.

Approximately, 35,000 tourists visit Manali every month during winters. By Prem Thakur (ANI)

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Pranab to inaugurate Indian Labour Conference on Feb 20

February 18, 2009 By admin Leave a Comment

New Delhi, Feb 18 (ANI): External Affairs Minister Pranab Mukherjee will inaugurate the 42nd session of Indian Labour Conference on Friday.

The session is being organised by the Ministry of Labour and Employment.

The two-day Conference to be held under the chairmanship of the Minister of Labour and Employment Oscar Fernandes, will deliberate upon several topical and critical issues which include issues connected with contractualisation of labour, issues related to migrant workers, role of social partners in appropriate skill development for employability and also the effects of global financial crisis – viz. large scale downsizing, layoffs, and wage cut and job losses.

The “National Policy on Safety, Health and Environment at Workplace” formulated by the Ministry of Labour and Employment will also be released on the occasion.

The policy, amongst other things, brings out national objectives into focus towards improvement in safety, health and environment at workplace by such methods as continuous reduction in injuries, disease and associated costs and continuous enhancement of awareness.

The conference will be attended by senior representatives of workers and employers organisations, the state labour ministers and the officers from various central ministries and departments.

Some Central Ministers have also been invited to attend the Conference. Some fruitful results are likely to emerge from the brain-storming sessions on issues before the conference.

This process will definitely strengthen the institutions of social dialogue already, in place and will result in better understanding of each others perspective and convergence of varied ideas and approaches amongst social partners.

The Ministry of Labour and Employment has the unique mechanism of tripartite consultation amongst social partners – workers, employers and government, at various levels – sectoral as well as national – on issues relating to labour.

The Indian Labour Conference – the apex tripartite consultative body at national level has been aptly described as the “Labour Parliament of India”, a confluence of creative forces and energies and the testing ground of tripartite consensus in decision making.

The first such tripartite consultation at national level was held in 1942 as Tripartite National Labour Conference – subsequently renamed as Indian Labour Conference since 1944.

So far, 41 Sessions of Indian Labour Conference have been held to discuss prominent labour related issues. (ANI)

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Kamal Nath to inaugurate Carpet Expo tomorrow

February 11, 2009 By admin Leave a Comment

New Delhi, Feb 11 (ANI): Union Minister of Commerce and Industry Kamal Nath will inaugurate the 14th India Carpet Expo here tomorrow.

Shankersinh Vaghela, Union Minister for Textiles; G.K. Pillai, Commerce Secretary and Rita Menon, Textiles Secretary will also attend the function.

The four-day expo is being organised by the Carpet Export Promotion Council.

The expo is world acclaimed established fair on handmade carpets and other floor coverings in South East Asia, envisaging unique business oriented platform to the importers and exporters.

More than 200 exhibitors from Uttar Pradesh, Rajasthan, Jammu and Kashmir, Haryana will display their trend setting designs of handmade carpets and floor coverings.

It is expected that around 300 overseas buyers from USA, Germany, France and Italy will also visit the fair.

The Indian carpet industry has the potential for expansion since adequate skilled manpower and raw-material is available and, moreover, Indian carpets have tremendous flexibility and adaptability.

The total export of carpets viz., handmade woollen tufted, handmade silk, handmade staple/synthetic, cotton, rugs, druggets, and durries during the year 2007-08 was US 875.71 million dollars as compared to US 807.94 dollars in 2006-07.

The top exporting destinations are: USA, Germany, UK, Australia and France. (ANI)

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6th global vendor development programme in Mumbai

January 29, 2009 By admin Leave a Comment

Mumbai, Jan 29 (ANI/Business Wire India): The 6th Global Vendor Development Programme, an International Conference – cum- Exhibition for Micro Small and Medium Enterprise, has been scheduled on January 30 to February 1, 2009 at Mumbai.

It is supported by the All India Association of Industries, Bombay Small Scale Industries Association, Mumbai, Indo-Arab Chamber of Commerce and Industries and New Media, India’s Largest Bilateral Trade Magazine Publishing House with a sole mission of encouraging bilateral trade globally.

The 6th Global Vendor Development Programme has been designed to promote intra industry trade, healthy business relationships and outsourcing of products and components of MSMEs, adoption of best practices in order to avail of collective bargaining for common benefits from Governments, PSUs, Corporates and vendors.

The programme will be inaugurated by Madhav Lal, IAS, Additional Secretary and Development Commissioner, Government of India, MSME on January 30, 2009. On this occasion the National Awards to the Outstanding Entrepreneurs of Mahrashtra will also be presented.

In these times of global meltdown and business challenges, it is critical to seize opportunities that would add great impetus to growing business.

The current economic challenges has swept across major economies which has started affecting the MSME sector particularly visible impact on auto components manufacturing and exporting units.

Dinesh Rai, IAS, Secretary, Ministry of MSME, Government of India while responding to the economic crisis faced by the MSME of Pune region said that, “The Government of India is sensitive to the development and has taken initiatives to safe guard the interest of the MSMEs from the global melt down.” He added that, we need to build a new approach to spot emerging global competitive opportunities to encounter the challenges in the present scenario.

Sensing the heat of global recession, the MSME Development Institute, Mumbai, National Small Industries Corporation Ltd., and Vasai Industries have initiated a Conference-Cum- Exhibition.

This meet will facilitate collaboration and cooperation between Micro, Small and Medium Enterprises and multi national companies, large industrial units, public sector undertakings, Central Govt. department’s viz. Defense, Navy, and Railways etc. BHEI, ONGC, BSNL, BEL, NPCL, NTPC, BPCL, HPCL, IOC, MTNL.The business services provider and other stake holders etc.

In order to accelerate intra-industry trade for maintaining business continuity in the turbulent times. The concurrent technical session is also being organised simultaneously on the recent trends and challenges posed by global recession such as Business Continuity Management, cutting edge technologies, Lean Management, B2B, Buyers/Sellers meet for exchange of ideas.

K. R. Sharma, Director of the Institute said that, “As the Government department and PSU’s are the bulk buyers of the products of MSMEs; the programmes offer longer terms solutions. (ANI)

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