Water, an emerging business risk

Sunil K. Sinha/Parul Bhardwaj
source:The Hindu businessline  

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Companies need to have their internal water policies and improve disclosures on water use.

The recently released Draft National Water Policy 2012 says “large parts of India have already become water-stressed. Rapid growth in demand for water due to population growth, urbanisation and changing lifestyle pose serious challenges to water security.”

Yet, most companies have not woken up to the risk related to water or emanating from water, and few have assessed their exposure to water risk. Even the companies that do not foresee water as a challenge in the near term may be at risk due to challenges imposed by climate change and its impact on water availability.

As a consequence, regulation may become more stringent on water use and wastewater discharge to prevent depletion and degradation of water resources. Growing awareness about water challenges may increase the society's expectations about the way water is used by companies.

corporate/business risk

The business risk emanating from a company's relationship to water can be broken into three broad categories, namely, physical, regulatory and reputational.

Physical risk relates to both quantity (scarcity/flooding) and quality (pollution) of water. This can be caused by drought or long-term water scarcity, unequal allocation among users, flooding, or pollution that renders water unfit for use. Physical risk means that a company may face difficulty in accessing adequate amounts of quality water for its business operations and supply chain.

Regulatory risk relates to governance of water uses by law/legislation. It occurs because of changing, ineffective, poorly implemented or inconsistent water policies, and involves pricing of water supply and wastewater discharge, licences to operate, water rights, quality standards, etc.

Reputational risk relates to the impact on a company's brand/image. With growing public and media awareness — about how companies are handling water resources — is becoming important.

Any conflict around access/use/degradation of water often leads to adverse publicity for the company, which in turn adversely impacts its client base.

All of these risks individually or collectively can threaten a company's legal and social licence to operate and in worse cases could also lead to closure of a company's operation.

It is therefore important for companies to have an internal water policy that is aligned to both local sensitivity and national policy.

Companies must report regularly about their conduct and actions on water in the public domain to earn and maintain the confidence of various stakeholders.

Are companies doing that? Over the past two decades, a growing number of companies have begun to publish non-financial reports covering their conduct and actions on environmental and social issues that include water for the benefit of stakeholders and public.

Corporate Reporting

For assessing corporate reporting on water by publicly held companies in India, we looked at the data base of S&P ESG India Index. The data base collects information on disclosures made by companies on four parameters: (a) policy/initiatives for management of water use; (b) total water used; (c) total water used by source; and (d) policy for management of wastewater discharged. Currently, this information is available for six years (see table) and reveals the following:

(a) The number of companies reporting that they have policies/initiatives for management of water use is low, but is increasing. Water policies/initiatives by the companies provide background or overview of their water management. About 30 per cent of the companies in 2010 reported that they have policies/initiative in place for management of water use. In 2005, this percentage was only 20 per cent.

Although over the years the situation has improved, most companies either still do not have a water policy/initiative in place or do not report such information in public domain.

(b) Companies hardly disclose information on total water used by them. Despite about one-third of the companies reporting having policies/initiatives in place for management of water use, only 3.3 per cent of the companies in 2010 disclosed information about their total water used.

(c) Their reporting on the total water used by sources is even worse. Not a single company disclosed information on the total water used by source in 2005. Even in 2010, only 1.5 per cent of the total companies made this disclosure.

(d) About one-fifth of the companies report that they have policy for management of wastewater discharge. Management of wastewater discharge by companies is an important aspect of tackling growing water pollution.

From about 12 per cent of the companies in 2005 disclosing that they have a policy on waste water discharge, the percentage of such companies grew to 22.1 per cent in 2010.

The disclosure and reporting pattern of companies are likely to differ because water uses/requirement as also wastewater discharge varies across sectors. Some sectors require high-quality water as a key input for production, while others use water mainly for cooling or in-plant processes.

Some businesses produce high volumes of wastewater, while others are more concerned about the quality of wastewater discharge.

Therefore, companies that belong to the sectors where water use/requirement is critical, or is publicly more visible in the production process, are more likely to have water and wastewater discharge policies/initiatives in place, compared with other sectors.

This is also borne out of the S&P ESG India Index data base, which shows that a relatively high percentage of companies belonging to energy, materials and utilities sectors reported that they have policies for management of water/wastewater discharge. This was followed by companies belonging to health care, consumer staples and other consumer sectors.

(Mr Sinha and Ms Bhardwaj are Director, Economy Research, and economist, respectively, at Crisil Ltd. Views expressed are personal.)

All services except in negative list & Exempt will be taxed from July 1

source:TaxGuru

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All services except 17 in the negative list,  and those which are exempted vide mega Notification No. 12/2012-ST dated 17.03.2012   will be taxed from July 1, the Finance Ministry has said.  If a particular activity is not excluded by the negative list, then we have to apply the test as to whether it is exempted by the general exemption Notification No. 12/2012-ST dated 17.03.2012.
Under the ‘negative list’ approach, services specified in the list will remain outside the tax net.  The government has widened the definition of ‘Services’ to bring in more activities under the tax net. At present, 119 services that come under ‘positive list’ are levied.
The ‘negative list” approach was proposed in the Budget. Following assent of the President to the Finance Bill, the Finance Ministry said the new service tax regime will come into force from July 1.
The Budget also hiked the service tax rate by two per cent to 12 per cent.
On A lighter side Even Paid Toilet Service will come under Service Tax Purview.
Services like metered taxis, auto rickshaws, betting, gambling, lottery, entry to amusement parks, transport of goods or passengers and electricity transmission or distribution by discoms have been kept in the negative list.
Other important services which will not attract the tax include funeral, burial, mutate services and transport of deceased.
Coaching classes and training institutions will come under the net, though the tax will not be levied on school, university education and approved vocational courses,
Travel in first class and in air-conditioned rail coaches, too, will attract service tax.
In order to bring as many services as possible in the net, the government has come out with a very wide definition of service. With some exception, it has been defined service as “any activity carried out by a person for consideration”.

Nepal, on the Brink of Collapse

By SEYOM BROWN and VANDA FELBAB-BROWN

Siurce: New York Times

 June 5, 2012

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FOR more than two decades, Nepal, a resource-rich, impoverished country wedged between China and India, has teetered between paralysis and upheaval. Its people have witnessed the transition, in 1990, from an authoritarian Hindu kingdom to a constitutional monarchy; the massacre of members of the royal family in 2001 by the heir to the throne; a decade-long civil war between Maoist insurgents and the government that ended in a faltering peace agreement in 2006; and the removal of the monarchy altogether in 2008.

Since the civil war ended, after the loss of more than 16,000 lives, a stalemate has ensued as each party caters to caste, class and ethnic divisions instead of national unity. Many politicians are maneuvering to get their hands on money from foreign aid, tourism and hydropower; even the Maoists have become crony capitalists, reaping large profits for themselves and their ostensibly proletarian party. Meanwhile, the bureaucracy, army and police — historically dominated by privileged social groups that never held them accountable — are becoming even more politicized and corrupt.

Although Nepal is no stranger to crises, the one currently seizing the country risks turning it into a failed state. On May 27, the 601-member legislature, which had been directed to write a new constitution for what is now a democratic republic, missed its deadline for the fourth time since it was created in 2008. Hours before the deadline, after the Supreme Court refused to grant another extension, the Maoist prime minister, Baburam Bhattarai, dissolved the legislature, known as the Constituent Assembly, and scheduled nationwide elections for Nov. 22. Although averting imminent political disaster and violence, the call for elections is unlikely to bring consensus among the self-interested and fractious political leaders, and is quite likely to produce an even more divided legislature.

The fitful struggle to develop a constitution both epitomizes and exacerbates the country’s ethnic, religious, geographical, caste and class divisions. More than 90 languages are spoken in this country, about the size of Illinois. Buddhists and Muslims are sizable minorities among the largely Hindu population. Lower-caste people and rural residents have been historically marginalized; the grievances run deep. However, instead of unifying the country, constitution-drafting has become a frenzied contest to secure special privileges for one’s own community.

By making promises they can’t fulfill, politicians are losing control of the very animosities they’ve whipped up. Political parties have organized paralyzing protests, with barricades and roadblocks, to demand, or oppose, separate ethnic- and caste-based states within a federal system. The protests have shut down commercial activity across a country that can ill afford such losses: with a per-capita gross domestic product of $490, Nepal is one of the poorest countries in the world; unemployment is at 45 percent.

The parties are using criminal groups to recruit stick-wielding youths to protest. Induced by a fistful of rupees, a rare treat of a meat meal and an illusion of empowerment, these youth have roughed up drivers and set fire to vehicles that attempt to pass the barriers. Some groups have attacked journalists. Reinforced by former fighters, the Maoist party is among the most effective in demonstrating its street might. Fearing a loss of power, the traditional economic and political elite, the Brahmin and Chhetri castes, who dominate the Nepali Congress Party, have begun to emulate the Maoists’ street tactics.

On Monday, in a move symptomatic of the mistrust and cynicism, dozens of political parties, including the Nepali Congress, raised suspicions about the Maoists’ motives in dissolving the Constituent Assembly and called for protests against its dissolution. Few Nepalis expect the present situation to explode into another civil war, but increasingly brazen and regular acts of violence in the capital demonstrate that lawlessness has reached crisis proportions.

With most institutions malfunctioning and the system of patronage deeply ingrained, bribery and political connections rule the day. Individual acts of courage against corruption are cause for hope, but to fully restore the rule of law, and respect for it, Nepal needs to step up its efforts to improve public integrity. A prominent anti-corruption agency has been leaderless for over a year as parties bicker over who should lead it.

Nepal also needs a stronger judiciary selected on the basis of merit; rigorous training for prosecutors and justices; and a police force that can regain the trust of ordinary citizens, particularly in rural communities, where law enforcement is scarce.

The global community can show its concern by threatening to withhold aid, which makes up 3.4 percent of Nepal’s economy. Donors should insist that the new constitution be completed, emphasizing the need for compromise, particularly in the debates around ethnic representation and federalism.

Even after the November elections, political leaders will need to put stability and justice ahead of power and profit. If the culture of impunity is not uprooted, neither the elections nor a new constitution can deliver Nepal from slipping further into civil chaos, poverty and lawlessness.

Seyom Brown is a professor of international politics and national security at Southern Methodist University. Vanda Felbab-Brown is a fellow in foreign policy at the Brookings Institution. 

Let’s Show China the Finger
Editorial:Sikkim Now

The Fingertip Area in North Sikkim, the portion which juts into Tibet after tourists take a right turn for Gurudongmar Lake, is back in the news with the national media claiming incursions by the PLA even as border and army personnel in Sikkim deny the reports. Be that as it may, Chinese showboating is not new to its borders with India, whether along Sikkim or elsewhere. Reports of Chinese aggression had peaked back in the year 2008, and below we reprint an editorial from 20 May 2008. Irrespective of the situation at the border, the sentiments shared in the editorial still hold strong and the opinion remains unchanged…

While Delhi expended copious amounts of midnight oil to ensure that Beijing was not embarrassed by democracy-leaning citizens and guests when the Olympic torch trampled over Rajpath, China indulged in some inspired whimsicalities. Having gobbled up a large bite of Bhutan from the international tri-junction along East Sikkim from right under the nose of Bhutan’s large neighbour, the People’s Liberation Army is now claiming that a finger of North Sikkim that pokes into Tibet is actually a part of their hand. National media reports on Monday quoted “Government sources” as trying to downplay the whole episode as a “minor and local” matter. No wonder China continues to harbour designs on Indian territory. If the same “government sources” are modulating foreign policy and deciding defence priorities, the reason why our country’s foreign policy is in such disarray becomes very clear.
Territory can never be a “minor” issue and any babu who says so in Delhi should serve a tour of duty in the frozen desolation of the recently-made-disputed territory in North Sikkim and then justify why our soldiers are made to suffer such extreme privation for what are essentially “minor and local” matters. The pusillanimity of those who sit on negotiating tables has passed down a situation where, after having risked life and limb, the Indian soldier is told to ignore the demolition of its bunkers by China because they technically fell on Bhutanese soil. India has signed a treaty to defend Bhutan against aggression and it was with aggression that China encroached 10 odd kilometres into Bhutan and thereby technically erased the international “tri-junction” that marked the southeastern tip of Sikkim. But hey, that is a treaty with Bhutan, and with China, Delhi seems to have a conduct manual that supersedes all prescribed guidelines of self respect. And so, within eight months of the tri-junction adventure, a bolder China has created a new disputed territory, this time within Sikkim. One needs to confirm with the defence ministry whether this development is part of our confidence-building initiatives vis a vis China. In December last [2007], the Defence Minister, while air-dropping greetings to soldiers in border areas here, had said: “As this is a semi-developed border, incidents might have happened. But we are trying to find solutions by building positive relations with the Chinese on border issues.” He was responding to media queries on the confrontations that were still fresh at the time in the tri-junction area. The positivity that the defence ministry was trying to build has indeed been a very positive confidence booster for Chinese forces it seems.
On the present dispute, the Indian army has invited the PLA to a “ground meeting” to resolve the territorial claims over a zone the Indian army refers to as the “Finger Area” north of Giagong en route to Gurudongmar. A ground meeting is one in which the two sides put documentary evidence supporting their claims [to territory, in this case] on the table in the hope of resolving the confusion on the spot. That’s a very good idea. No aggression, no fighting, let’s just show China the Finger… on the map and in old documents, that is, as a part of Sikkim. And while we are at it, let’s do the same for Delhi too to establish that it is not a “small tract of land”.
While on document-sharing mode, maybe our soldiers can also include some photographs of Indian tourists posing along the disputed zone which incidentally marks the left bank horizon on the drive up to Gurudongmar. As for Mr. Antony, a positive development on border issues is not necessarily nurtured across the border, a more positive development is guaranteed if the people on this side are taken into confidence. Keep the areas up to the border open for locals and tourists and establish an emotional bond among them for the empty lands. Every civilian footfall in these zones reiterates the Indianess of the soil. The paranoia should be directed beyond the borders and not inverted. For those who still live in times when on-ground espionage was a worry, they should try the Google Earth to realise how redundant their fears are.

China Closes Tibet to Tourists

Posted Wednesday, June 6th, 2012 at 12:30 pm

Travel operators say Chinese authorities have closed Tibet to foreign visitors and canceled visas for the region.

The move comes days after two Tibetans set themselves on fire in the region to protest Chinese rule.

No reason was given for the ban on foreign visitors with several Beijing based tour operators saying the restrictions could last for several months.

The ban comes as Tibetans prepare for a month-long (Saga Dawa) festival marking the birth of Buddha which normally draws thousands of tourists.

China enacted a similar ban on foreign visitors around the same time last year and has done so periodically during religious holidays or periods of unrest.

Nearly 40 people, including Buddhist monks, nuns and their supporters have set themselves on fire since March 2011 to protest Chinese rule.

China says the immolations incite separatism and are directed from outside the country. But representatives of spiritual leader the Dalai Lama, who lives in northern India, say protesters are driven to self-immolate in large part because they can no longer tolerate Beijing's ongoing push against Tibetan culture and religion.http://blogs.voanews.com

Sikkim farmers learn trout farming techniques at Srinagar workshop

Srinagar , Tue, 05 Jun 2012 ANI

Srinagar, June 5 (ANI): Fish farmers from Sikkim are attending a weeklong workshop on trout farming in Srinagar to learn the new techniques of fish farming.
The Kashmir Valley, which is famous for trout, is also known as an angler's paradise due to the abundance of the fish. A large number of locals and foreigners also indulge in fish farming.
The Deputy Director of the state Fisheries Department, Bashir Ahmad Bhat, said the workshop would help in the promotion of trout farming in Sikkim.
"We are happy as the delegation that has arrived is learning the technical aspects of trout farming. They toured the valley and visited various districts and they watched our activities. The technical experts held interaction with the trainees and imparted information. We are happy that they are satisfied with the workshop. They will reap benefits of this training and the technology they have learned, so that this trout culture flourishes in their province," said Bhat.
The farmers from Sikkim visited trout farms in Dachigam, Manasbal and Kokernag. They interacted with experts, who taught them new techniques.
The farmers were taught specific techniques including breading, feeding, and cleaning of ponds.
"Half of us are progressive farmers in Sikkim and a few are new comers, who are unemployed youth. They have a huge farm spread in a large area, but in our area we do not have such a big farm. Our objective of this visit is to learn the process of trout farming about rainbow trout and brown trout," said Gori Mukhya, a fish farmer from Sikkim.
The British introduced trout, a highly nutritious fish, in the Kashmir Valley for angling during colonial rule. Subsequently, the first trout hatchery was established at Harwan, situated on the outskirts of summer capital Srinagar in 1901. (ANI)

Sikkimese Student’s dissertation to get published as book

source:Isikkim & Sikkim Mail

Yuksam, 5 June 2012:
Angela Bhutia, the only school student from the country to present a Speed Talk-cum-Poster at the prestigious YETI (Young Ecologists Talk & Interact) 2010 held at Indian Institute of Science (Bangalore), has been given a publication offer by an International Publishing House named Lambert Academic Publishing GmbH & Company, KG, Germany.
In a mail addressed to Angela Bhutia sent at Yuksam School’s e-mail address, Alina Covali (the Acquisition Editor of the publishing house) showed an interest to publish her dissertation on the project CLEAN UP GUYS (Cycling Long-lived Eco-unfriendly Accumulated Non-biodegradables through United Participation for a Cleaner Unpolluted Youthful Sikkim) in the form of a book.
It may be recalled that in 2009, the School in observance to International Polar Year undertook an 8-day long clean-up exercise along the Yuksam-Dzongri-Goechala trail falling under KNP of KBR and returned with 122 bags of non-biodegradable garbage. Angela Bhutia along with co-authors Passang Kipa Bhutia and Renuka Chhetri (then in Class IX) under the guidance of Sanjoy Acharya analyzed the findings of the exercise. The students then under the guidance of their teacher Sanju Shilal presented the result at the State-level Science Exhibition 2009 where it was adjudged as the Best Exhibit.

yuksum

This is perhaps the first time in history that a school student of Sikkim received such an offer. The entire Yuksam School family expressed immense happiness at the achievement. It is another indicator of success of Yuksam School in recent years.
For Angela Bhutia, who is presently studying in Class XII (PCB) at Pelling SSS (West), the reaction was mixed of surprise and pleasure. Her Class Teacher, Ayodhya Ray, expressed happiness over the development and commented that ‘Angela is learning and shaping herself well today in preparation for a better tomorrow’.

Centre to provide all possible support to North Eastern States to tackle their Infrastructure and Financial Problems: says FM

The Union Finance Minister Shri Pranab Mukherjee said that the Centre is committed to the development of the North Eastern States and would continue to support the State Governments in their development endeavours. The Finance Minister Shri Mukherjee called upon the Chief Ministers of the North Eastern States to participate in making collective efforts with the Centre to address economic and financial challenges. The Finance Minister Shri Pranab Mukherjee was addressing the Chief Ministers of North Eastern States in a special meeting called here today to evolve strategies to accelerate development. The Chief Ministers present in the meeting included Shri Tarun Gogoi, Chief Minister, Assam, Shri O. Ibobi Singh, Chief Minister, Manipur, Shri Pawan Chamling, Chief Minister, Sikkim, Shri Mukul Sangma, Chief Minister, Meghalaya, Shri Nabam Tuki, Chief Minister, Arunachal Pradesh, Shri Lal Thanhawla, Chief Minister, Mizoram and Shri Neiphiu Rio, Chief Minister, Nagaland. The North Eastern State of Tripura was representated by its Finance Minister Shri Badal Choudhary. Present in the meeting were Dr. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Shri B.K. Chaturvedi, Member, Planning Commission, Smt. Sindhushri Khullar, Member Secretary, Planning Commission, Smt. Omita Paul, Advisor to FM, Shri R.S. Gujral, Finance Secretary, Shri Sumit Bose, Secretary, Expenditure alongwith other senior officers of the Centre and State Governments. Addressing the Chief Ministers, the Union Finance Minister Shri Pranab Mukherjee further said that the Centre is aware of the special issues of the region, including a low base to mobilize resources and a geographical terrain that created challenges for communication and infrastructure development. He said that based on an appreciation of these challenges, the Central Government had accorded special category status to North Eastern States, so as to assist them in their efforts to raise their economies to the level of other States. Replying to the issues raised by the Chief Ministers of the different North Eastern States, the Finance Minister Shri Mukherjee said that interventions for the second green revolution in Eastern States have shown highly positive results. He said that due to the said green revolution, the production of rice in Eastern States has risen by 7 million tonnes, resulting in overall rice production in the country over 100 million tonnes for the first time. He appreciated the better fiscal management by most of the North Eastern States, as a result of which most States did not have to resort to overdrafts. The Finance Minister Shri Mukherjee said that he has asked the income tax authorities to issue the notification for income tax exemption on permitted excise duty refunds for industries in the North Eastern States. He said that if any State faced a problem on account of an undersubscribed market loan, the Centre would be ready to raise the loan within the State’s permitted borrowing ceiling, and pass it on to the concerned State. He noted that six districts had been identified for UID based pilot projects in the States of Tripura and Sikkim, and asked the other States to identify districts to implement such pilot projects for better targeting of beneficiary oriented schemes. He also assured the Chief Ministers of the North Eastern States that the Centre would provide all possible help to implement infrastructure projects, with a view to speed up development of the region as part of the Look East policy. He also said that States Specific Grants recommended by the Thirteenth Finance Commission, linked to enactment/amendment of the States FRBM Acts, would be released to ensure that the purposes of the grants were fulfilled without interruption. Noting that there had been rich discussion in the meeting, he said that institutionalization of such meetings at regular intervals would help in feedback and course correction

Trade policy gives incentives to exporters from North East

Jun 5, 2012

New Delhi: With an aim to promote exports from the North Eastern states, the Centre today reduced compliance burden to one-fourth for exporters to avail the popular EPCG scheme to import capital goods at very low customs duty.
“We have taken a decision to reduce the export obligation under the EPCG scheme to 25 percent of the normal export obligation and this facility will be applicable to North Eastern states and Sikkim,” Commerce Minister Anand Sharma said, while releasing the annual supplement to the Foreign Trade Policy.

Commerce Minister Anand Sharma. Image courtesy PIB

This, he said, is being done to promote “manufacturing activity and generating employment in the North Eastern states”.
Export Promotion Capital Goods (EPCG) is an export promotion scheme under which an exporter can import certain amount of capital goods at either zero or three per cent customs duty, for upgrading technology related with exports.
However, to avail the scheme, the exporter has to meet a pre-determined export obligation over a certain period.
Besides the EPCG, Sharma also announced incentives to promote exports from customs stations in the region.
“We are also going to provide additional incentive of one percent of FOB (Free On Board) value of exports for specified products through all Land Customs Stations of North Eastern Region,” Sharma said.
This benefit will be in addition to any other advantages that may be available under the Foreign Trade Policy in respect of these exports, the supplement said.
Also, Myanmar has been included in the list of Focused Market Scheme (FMS), which aims to offset high freight cost to certain select international countries with a view to make India more competitive in those markets.
This is also likely to benefit exports from the region as Myanmar borders four North Eastern states — Mizoram, Manipur, Nagaland and Arunachal Pradesh.

The inclusion of Myanmar in FMS list comes close on the heels of Prime Minister 's visit to South Asian neighbour.
PTI

Useful Links

Ministries with training capacity:
Ministry of Agriculture - http://agricoop.nic.in/
Ministry of Communication and IT - http://www.mit.gov.in/
Ministry of Health and Family Welfare - http://mohfw.nic.in/
Ministry of Human Resource Development - http://mhrd.gov.in/
Ministry of Labor and Employment - http://labour.nic.in/
Ministry of Micro, Small and Medium Enterprises - http://www.msme.gov.in/
Ministry of Railways - http://www.indianrailways.gov.in/
Ministry of Road Transport and Highways - http://morth.nic.in/
Ministry of Textiles - http://www.texmin.nic.in/
Ministry of Tourism - http://tourism.gov.in/
Ministries which fund Skill Development through external training capacity:
Ministry of Commerce and Industry - http://commerce.nic.in/
Ministry of DoNER - http://mdoner.gov.in/
Ministry of Minority Affairs - http://www.minorityaffairs.gov.in/
Ministry of Rural Development - http://rural.nic.in/
Ministry of Food Processing Industries - http://mofpi.nic.in/
Ministry of Social Justice and Empowerment - http://socialjustice.nic.in/
Ministry of Tribal Affairs - http://tribal.nic.in/
Ministry of Housing and Urban Poverty Alleviation - http://mhupa.gov.in/
Ministry of Woman and Child Development - http://wcd.nic.in/
Ministry of Youth Affairs and Sports - http://yas.nic.in/

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Mangoes can help fight flab: Study

source:PTI   

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The Hindu

Scientists have found the skins of the Irwin and Nam Doc Mai varieties contain compounds that inhibit the formation of human fat cells.

Eating few mango varieties could help you lose weight, but only if you eat the skin you normally throw away, Australian researchers have claimed.

Advising that while eating the wrong variety of this fruit could have the opposite effect.

University of Queensland scientists have found the skins of the common Irwin and Nam Doc Mai varieties contain compounds that inhibit the formation of human fat cells.

On contrary, the skin of the Kensington Pride mango has compounds that promote fat cell growth, according to an AAP report.

Mike Gidley said lab tests involved exposing human fat cells to extracts from the skin and flesh of three varieties.

He said there was a long way to go, but the findings opened up the possibility of a supplement that could help fight obesity.

“The next stage is to identify the useful molecules in the peel that inhibited fat cell formation,” Mr. Gidley said. 

UGC to let only top 500 foreign universities enter India

by Himanshi Dhawan,TNN


.NEW DELHI: In an attempt to rein in fly-by-night operators who have set up shops in India, the Universities Grants Commission (UGC) has made its approval mandatory for all collaborations between foreign and Indian educational institutions. The new regulations approved by the UGC on Saturday give existing institutions six months to get approval.

The UGC has also laid down dual criteria to ensure that quality academic institutions are allowed to run joint degree or twinning courses. Only those foreign institutions will be allowed to collaborate who figure in the top 500 of the Times Higher Education World University Ranking or the Shanghai Jiaotong ranking.

The Indian varsities should have received the highest accreditation grade from the National Assessment and Accreditation Council (NAAC) and the National Board of Accreditation (NBA) to be eligible for a tie-up with a foreign institution.

"We would like only quality academic institutions to establish programmes here to protect students' interests. We will issue a public notice and also put up a list on our website detailing approved institutions so that students are not duped," Prof Ved Prakash, UGC acting chairman, said.

The degrees will be awarded by the Indian universities for their acceptability in India. Institutes failing to abide by the guidelines would be penalized. The UGC is empowered to stop grants in case of public institutions while it can recommend to the Centre withdrawal of recognition in case of deemed universities.

The guidelines come at a time when the Foreign Educational Institutions (Regulation of Entry and Operations Bill) 2010 has been pending before Parliament for the past two years. There has been growing concern in recent years that fake foreign varsities were duping students. Now, over 600 foreign education institutions operate in the country.

The UGC put its plan to allow foreign universities to set up campus on hold after a large number of members felt that there was need for greater deliberations. "It was felt that there was need for more detailed deliberations with statutory councils from different areas of study, including technical, medical, law and architecture,'' said Prakash.

A UGC member said that several members questioned the need to allow foreign varsities to function as "deemed universities''. Considering the overwhelming view, the decision was deferred.

Factfile

* Foreign education institutions have increased from 144 (2000) to 631 (2010)

* The maximum number were from the UK (158), followed by Canada (80) and the US (44)

* Of the 60 foreign education providers, who have programme collaboration with local institutions, only 25 local institutions were affiliated to Indian universities or approved by regulatory bodies

* Only 32 of the 49 foreign institutions operating under twinning arrangements have approval or affiliation

(Source: Association of Indian Universities)

The new regulations approved by UGC:

* Only those foreign institutions that figure in the top 500 of global ranking by Times Higher Education World University Ranking/Shanghai Jiaotong university can enter into collaboration

* Only those Indian institutions which have been given the highest grade by NAAC, NBA can partner a foreign institution

* Indian partner has to seek UGC approval or face withdrawal of grant or recognition * Existing institutions have to get UGC approval within six months

White heaven

Meera Raghunandan, Jun 3, 2012 :

Source: Deccan Herald

Reaching Yumesamdong, 15,000 ft above sea level, is no easy feat, especially if one is prone to altitude and motion sickness.

One is guaranteed a liberal dose of altitude and mean rides on a SUV to reach this place, in a far flung corner of Sikkim.

However, if you are the type who can draw pleasure from stunning views of snow-capped mountain ranges and can smile away all your worries by looking at a valley filled with rhododendrons, the journey to Yumesamdong will be etched in your memory forever.

We set out on a Monday morning from Bangalore, flying all the way to Bagdogra in West Bengal, which is the nearest airport to reach Sikkim. From Bagdogra, there were nicely tarred roads all the way to Gangtok.

It was a six-hour drive for a distance of just 125 km. By late evening, we reached Gangtok and checked in to a hotel, which is about a 10-minute walk from the main shopping area of Mahatma Gandhi Marg.

The next morning, we awoke to pleasant views of mountains in the distance and a not-so-bustling city close by. The MG Road beckoned with different outlets offering momos, warm clothes, artefacts and even pizzas with carrot toppings.

The best part of this road was that it was in the no-vehicle zone, making it ideal for a leisurely stroll. The next day we headed to Tsonga (pronounced Chongu) Lake.

This jaw-dropping lake was about a couple of hours’ drive from Gangtok and could only be reached through a back-breaking drive on very treacherous landslide-prone mountain ranges. One got exposed to very high altitudes in the range of 12,400 ft very quickly, without much chance of acclimatisation.

The lake, nestled between snow-capped mountains, is simply breathtaking. Very innovative local tradesmen and women hired out warm clothes, gloves and plastic boots for tourists to walk in the snow, and sold hot Maggi and tea. They also had yaks for hire for people who did not wish to walk in the snow.

The views were spectacular, but it was too cold for comfort. So we headed out of Tsongo. About an hour ahead was the Chinese border, viewed from Nathula Pass, which we had to skip as the roads were blocked due to unexpected snowfall.

The next morning, we set out to North Sikkim, a good day’s travel from Gangtok. On the way, we stopped at Tashi View Point. On a good day, one can see stunning views of the Kachenjunga.

On other days, we must make do with views of lesser known but still appealing mountain ranges and kadak masala chai available along with hot pakodas. We ploughed through the rough terrain, which didn’t seem so bad due to the expert driving of our very experienced driver, his light and easy banter, the good SUV, the many small waterfalls on the way and other stunning views.

By late evening, we reached the quiet village of Lachung. Beyond evening, there seemed to be no signs of life in the mountains. So, with an early dinner and after a few card games, we turned in early.

The next morning, after about an hour-and-a-half of driving from Lachung, we reached the Valley of Flowers, where the rhododendrons were blooming in all their colourful glory.

Red, pink, purple, white — whatever your choice — every single rhododendron put a smile on our faces. Beautiful snow-clad mountains overlooking a valley full of rhododendrons is a sight that filled the mind with peace and
contentment.

There were hardly any visitors as compared to the Tsongo Lake. What a show nature had put up for us. The whole way to Yumesamdong was so beautiful that it brought tears to our eyes.

Finally, an hour later, we reached the place we had seen in pictures and fallen in love with. White peaks all around and plateaus of snow for us to play in — this was simply heaven.

Arithang Gyaltshen Tshogpo felicitates Hishey Lachungpa, Mrs. C. Doma Bhutia and Kazi Sherrpa

Gangtok:  Arithang Gyaltshen Tshogpo, a social organisation based in Arithang, Gangtok today felicitated Member of Parliament, Rajya Sabha  Shri Hishey Lachungpa, noted social worker Mrs. C Doma Bhutia and Mountaineer Kazi Sherpa for their personal achievements and services at a felicitation ceremony held at Arithang today.

While Shri Lachungpa was felicitated for being elected to the Upper House of the Parliament, Mrs. C. Doma Bhuitia was felicitated for her contributions in the field of social work. Mountaineer  Kazi Sherpa was felicitated for his feat of scaling Mt. Everest recently.

While Shri Lachungpa was presented with an idol of Guru Rimpoche, Mrs. C. Doma Bhutia was presented with an idol of Juchen Dolma and Kazi Sherpa with a silver plaque of the Eight Lucky signs.

It is an example set by them individually that we feel humbled in felicitating them for their achievements and for their contributions to the society, a member of the Tshogpo said.

Mr. Lachungpa , a former three term minister and the former Political Advisor to the Chief Minister was elected to the Rajya Sabha earlier this year. Mrs. C. Bhutia a National award winner for Child welfare in 1988 and the B. R. Ambedkar award for social work was recently awarded with the Sikkim Sewa Samman during the State day function on 16^th may, 2012. Kazi Sherpa who is the Officer on Special Duty in the tourism Department recently scaled Mt. Everest being the third Sikkimese to achieve the feat.

Present at the ceremony were senior citizens of the area and members of the Tshogpo.

TAX TALK

Income of HUF subject to tax as separate entity

PUNEET GUPTA

Posted: Tuesday, May 22, 2012 at 0352 hrs IST Source:Indian Express

: India is known for its big happy families. Be it our television serials or movies, we epitomise the large family structure. The income-tax law has an interesting provision that comes into play when someone gets married. The Hindu Undivided Family (HUF) is a separate tax entity that is automatically constituted when a marriage takes place. Unlike what the name suggests, it is also applicable to Buddhist, Jain or Sikh families, besides Hindus.
The senior-most male member of the family is ordinarily regarded as the karta of the HUF. The income of an HUF is subject to tax separately (not in the hands of members) and an HUF is required to obtain a separate Permanent Account Number. An HUF can earn income from all sources, except salary. It may invest in a business and earn profits or earn capital gains. Rental income can be earned on ancestral or other property held by an HUF. A partnership firm may be formed in which HUF is a partner through the karta. An HUF can receive gifts as well. However, gifts exceeding R50,000 per financial year — unless received as part of a will or inheritance — are subject to tax.
An HUF can claim admissible deductions under various Sections of Income-Tax Act, 1961. To name a few, Section 80C for various eligible investments, such as national savings certificate, public provident fund, mutual funds, fixed deposits for five years or more, life insurance; Section 80D for health insurance premium; Section 80G for donations, and so on. An HUF’s taxable income is subject to same tax slab rates as an individual taxpayer. For FY13, income below R2 lakh is exempt from tax and incomes between R2-5 lakh, R5-10 lakh and above R10 lakh are subject to tax at 10%, 20% and 30%, respectively. In addition, education cess of 3% is applicable on the amount of tax.
It is mandatory for an HUF having taxable income exceeding the exemption limit to file income-tax return (ITR). The ITR form will depend on the various sources of income of an HUF. If an HUF has income from house property, capital gains and/or other sources, ITR-2 should be filed. If an HUF is a partner in a partnership firm, ITR 3 needs to be filed. However, if the HUF has business income as well, ITR-4 would have to be filed.
For FY13, an HUF is required to file its ITR electronically if its taxable income exceeds R10 lakh. Additionally, if the HUF is a resident and ordinary resident in India, and has foreign assets, then it needs to file ITR electronically and disclose therein the prescribed details of such foreign assets. Foreign assets also include financial interest in any entity or signing authority in any account located outside India.
The writer is senior tax professional, Ernst & Young

बढ़ते पारे से सब्जियों को भी लगेगी लू!

रामवीर सिंह गुर्जर / नई दिल्ली June 01, 2012

सब्जियां अभी आपको भले ही सस्ती लग रही हों, लेकिन चढ़ता पारा इनकी फसल को बर्बाद कर रहा है। इससे सब्जियों की आपूर्ति घट सकती है और बढ़ती मांग के बीच उनके दाम बढ़ सकते हैं।
अखिल भारतीय सब्जी उत्पादक संघ के अध्यक्ष श्रीराम गधावे के मुताबिक हाल ही में उगी सब्जियों में गर्मी के कारण फूल घट गए हैं और कई सब्जियों में 50 फीसदी फूल ही आ रहे हैं। इनके अलावा तैयार सब्जी भी गर्मी में नष्ट हो रही है। इससे सब्जियों की आपूर्ति घटने का अंदेशा है। गोभी, मटर और बींस के लिए गर्मी या लू को खास तौर पर नुकसानदेह बताया जाता है।
आजादपुर मंडी के सब्जी कारोबारी ओमप्रकाश वर्मा कहते है कि फिलहाल तो सब्जियां सस्ती है, लेकिन गर्मी से होने वाले नुकसान का असर जून बीतते-बीतते दिख जाएगा। इसी मंडी के सब्जी कारोबारी शंशांक जैन भी मानते हैं कि गर्मी से आपूर्ति घटने के आसार दिख रहे हैं और 15 दिन में ही सब्जियां महंगी हो सकती हैं।
अलबत्ता मई में सब्जियों के दाम काफी नीचे आ गए थे। सब्जी कारोबारी सुभाष चुघ के मुताबिक आपूर्ति बढऩे से मई में सब्जियां 25 से 40 फीसदी सस्ती हो गईं। थोक बाजार में 12 से 14 रुपये प्रति किलोग्राम बिकने वाली लौकी और तोरई इस दौरान गिरकर 8 से 10 रुपये और 12 से 15 रुपये बिक रहा टमाटर 4 से 9 रुपये प्रति किलो बिकने लगा। भिंडी, बैगन, बींस और परमल जैसी सब्जियों के भी दाम कम हुए हैं, जिनका असर खुदरा बाजार में भी नजर आया।

Data source: CNN Money, Economic Times

Defense Minister A K Antony speaks about 

'Protecting Maritime Freedoms' at the Institute

 for Strategic Studies or IISS Shangri-la Security

 Summit in Singapore.(AP)

Cabinet Meeting was held on 1^st of June 2012 at the Cabinet Hall of Samman Bhawan under the Chairmanship of the Chief Minister Pawan Chamling. The meeting passed the proposals of various departments as indicated below:

LABOUR DEPARTMENT

The cabinet passed the proposal seeking approval to transfer Rs.200 lakhs (Rupees two hundred lakhs) only to the State Institute of Capacity Building as grant -in- aid for operation of 32 Livelihood Schools.

TOURISM AND CIVIL AVIATION DEPARTMENT

The cabinet passed the proposal seeking approval and sanction of Rs.433.83 lakhs (Rupees four hundred thirty three lakhs eighty three thousand) only for (i) Way side amenity at Sribadam for RS.270.86 lakhs (ii)Way side amenity at Legship for Rs.162.97 lakhs.

RURAL MANAGEMENT AND DEVELOPMENT DEPARTMENT

The cabinet passed the proposal seeking approval and sanction of Rs.41.64 crore for repair and restoration of 514 Rural Water Supply Schemes and to procure 84 nos. of Electro-chlorinators for providing in GPUs.

HEALTHCARE, HUMAN SERVICES & FAMILY WELFARE DEPARTMENT

The cabinet passed the proposal seeking approval for payment of Rs.225.00 lakhs (Rupees two hundred twenty five lakhs) only as Grant-in-aid to Sikkim Manipal University of Health Medical and Technological Sciences for the year 2011-12.

DEPARTMENT OF FOOD SECURITY & AGRICULTURE DEVELOPMENT

The cabinet passed the proposal seeking approval and sanction of Rs.45, 52,955.00(Rupees forty five lakhs fifty two thousand nine hundred fifty five) only for conducting 3rd batch livelihood training on organic farming under Sikkim Organic Mission.

ECCLESIASTICAL AFFAIRS DEPARMENT

The cabinet passed the proposal seeking approval and confirmation of the beneficiary religious institutions which were damaged by the earthquake of 18^th September 2011 for the disbursement of NDRF funds and approval of  Rs. 6.00 crore(Rupees six crore only).

FOOD AND CIVIL SUPPLIES DEPARTMENT

The cabinet passed the proposal seeking approval and sanction of Rs.214.55 lakhs (Rupees two hundred fourteen lakhs fifty five thousand) only as subsidy for procurement and distribution of 21,633.00 qtls. of rice every month for the month of April, May & June 2012 during the financial year 2012-13.

SOCIAL JUSTICE EMPOWERMENT AND WELFARE DEPARTMENT

The cabinet passed the proposal seeking approval and sanction of Rs.200.00 lakhs (Rupees two crores) only for restoration and relief works from the Central Allocation of NDRF for ICDS centres.

The cabinet passed the proposal seeking approval and sanction of Rs.496.75 lakhs (Rupees four hundred ninety six lakhs seventy five thousand) only for repair and restoration works of ICDS Centres and other institutions of the department damaged by earthquake of 18th September 2011 under Prime Ministers Relief Package.

DEPARTMENT OF COMMERCE AND INDUSTRIES  

The cabinet passed the proposal seeking sanction and approval to release Rs.60.00 lakhs (Rupees sixty lakhs) only as first quarter instalment for the financial year 2012-13 to Temi Tea Estate.

ENERGY AND POWER DEPARTMENT

The cabinet passed the proposal seeking approval and sanction of Rs.495.09 lakhs (Rupee four crore ninety five lakhs and nine thousand only) for construction of 11 KV 3 Phase heavy duty transmission line from Rabong to Borong via Deorali and construction of control room at Ralong and construction of 3 phase 11KV heavy duty transmission line from Ralong to Namlung via Zarong, South Sikkim.