India at the threshold of big opportunity
[New Delhi, 20 December,2008] Young India in an aging world today stands at the doorway of a huge opportunity. This was the message delivered at the concluding session of the four-day Ideas India 2008 conference hosted by Aspen Institute India here today. The conference examined, evaluated and analyzed some of India's biggest challenges and opportunities.
Speaking at the session, Mr Nandan Nilekani, Executive Co-Chairman, Infosys Technologies, named the first of the big opportunities as the 'demographic dividend', which is that for the next 30 years the largest percentage of population in India will be of youth. But if we are not able to use this opportunity, the energy, discontent and anger of the youth can also turn it into a disaster.
The second resource we have is human capital. "A few decades back we used to think of people as burden, but now we think of them as capital", Mr Nilekani said. Other four resources that we already have are diverse entrepreneurship, technology, democracy and English language, which has today transformed from the language of the elite to the language of aspiration.
Taking a leaf out of his own latest book - Imaging India: Ideas for the New Century - Mr Nilakani said there are some areas on which we as a nation have complete agreement. Urbanization is no longer a dirty word. We are sure that we need primary education, infrastructure, and a single market.
There are certain things which we must do. The first is that we must use technology for improving governance and transparency. We have to evolve a new health model which revolves around wellness rather than cure for diseases, a pension or a social security scheme, clean environment and a new energy model. The energy model should not be based on the hydrocarbons. We should be able to show more economic growth with less emission of greenhouse gases.
For health, Mr Nilekani suggested a hub-and-spoke model for health, making full use of technology. He said, it is not feasible to have a full functioning hospital in every place.
Mr Gautam Thapar, Vice Chairman, Aspen Institute India; Chairman, Avantha Group, blamed the old labour laws for employment not keeping pace with economic growth. He said that as long as the labour laws remain the same the industry will prefer to use technology and machines rather than employ people.
Mr Jamshyd Godrej, Chairman, Aspen Institute India; Chairman and Managing Director, Godrej & Boyce Manufacturing Co Ltd, thanked the participants and assured them the Institute will take the initiative in implementing the ideas generated during this conference.
Tuesday, December 23, 2008
Monday, December 22, 2008
Sikkim Ranks High on Environmental Sustainability Index
“North Eastern States have been able to sustain population pressure and environmental stress”
Gangtok, Dec 21 : Sikkim’s green initiatives have started to bear fruits and how. The State has bagged the second spot in the country’s environmental sustainability index (ESI).
The best performing state in the 2008 ranking is Manipur, followed by Sikkim and Tripura with the lowest ranking states are Punjab, Gujarat and Haryana based on study of parameters like population pressure, stress on environment, environment systems, health vulnerability and environment governance.
The index has been prepared by the Centre for Development Finance (CDF) of the Institute for Financial Management and Research (IFMR) based on the environmental performance of states in the country. The ESI shows that the state is at 22nd place in a list that ranks the ability of 28 states to protect their environment in the coming years.
At the launch function held in Chennai yesterday, CDF release the report for 28 states in the country.
The awards for Sikkim and Manipur mean that the North Eastern States have been able to sustain population pressure and environmental stress.
During the launch function, Sikkim’s environment and forest department representative Pradeep Kumar highlighted how the government’s laws like those relating to the ban on plastics, use of chemicals in farming and environment cess, had helped in conservation and bring in more money for forestry.
Chattisgarh member secretary of environment P V Narasigham Rao said the state was setting an example by finely balancing between industrialisation and ecology by strict monitoring. Meghalaya forest commissioner C D Kynjing said the Centre should create a “green fund” for north-eastern states for increasing forest cover.
Award for green states was given to five select states, who had performed well on various aspects of environmental sustainability, viz., Himachal Pradesh (government’s initiative), Manipur (people’s initiative), Chattishgarh (least polluted water), Sikkim (conservation of natural resources) and Meghalaya (air quality).
“ESI is an attempt to create a baseline of state’s relative position in a sustainable trajectory. It has a strong policy focus and is designed to advocate analytical and empirical foundation for environmental policy making,” said Jessica Wallack, director, CDF.
Studying 44 variables clustered into 15 indicators under five policy components to arrive at the ESI, the study reveals that none of the state is on a sustainable trajectory. At the same time, none of the states have performed very poor in all dimensions. Most states have done well in some areas and need to improve a lot in many other issues, the report says.
Sikkim Express
Gangtok, Dec 21 : Sikkim’s green initiatives have started to bear fruits and how. The State has bagged the second spot in the country’s environmental sustainability index (ESI).
The best performing state in the 2008 ranking is Manipur, followed by Sikkim and Tripura with the lowest ranking states are Punjab, Gujarat and Haryana based on study of parameters like population pressure, stress on environment, environment systems, health vulnerability and environment governance.
The index has been prepared by the Centre for Development Finance (CDF) of the Institute for Financial Management and Research (IFMR) based on the environmental performance of states in the country. The ESI shows that the state is at 22nd place in a list that ranks the ability of 28 states to protect their environment in the coming years.
At the launch function held in Chennai yesterday, CDF release the report for 28 states in the country.
The awards for Sikkim and Manipur mean that the North Eastern States have been able to sustain population pressure and environmental stress.
During the launch function, Sikkim’s environment and forest department representative Pradeep Kumar highlighted how the government’s laws like those relating to the ban on plastics, use of chemicals in farming and environment cess, had helped in conservation and bring in more money for forestry.
Chattisgarh member secretary of environment P V Narasigham Rao said the state was setting an example by finely balancing between industrialisation and ecology by strict monitoring. Meghalaya forest commissioner C D Kynjing said the Centre should create a “green fund” for north-eastern states for increasing forest cover.
Award for green states was given to five select states, who had performed well on various aspects of environmental sustainability, viz., Himachal Pradesh (government’s initiative), Manipur (people’s initiative), Chattishgarh (least polluted water), Sikkim (conservation of natural resources) and Meghalaya (air quality).
“ESI is an attempt to create a baseline of state’s relative position in a sustainable trajectory. It has a strong policy focus and is designed to advocate analytical and empirical foundation for environmental policy making,” said Jessica Wallack, director, CDF.
Studying 44 variables clustered into 15 indicators under five policy components to arrive at the ESI, the study reveals that none of the state is on a sustainable trajectory. At the same time, none of the states have performed very poor in all dimensions. Most states have done well in some areas and need to improve a lot in many other issues, the report says.
Sikkim Express
WAR CLOUDS HOVER ALONG INDO PAK
NEW DELHI, DEC 20
A high-level assessment of the security scenario in the light of Indo-Pak tensions was undertaken at a marathon meeting chaired by Prime Minister Manmohan Singh at the Defence Ministry here tonight.
Three senior-most Ministers, Pranab Mukherjee, A K Antony and P Chidambaram, besides National Security Adviser M K Narayanan, three services chiefs and intelligence chiefs attended in the meeting, which lasted around four hours. There was no media briefing on it.
Meanwhile, the army is understood to have cancelled leave to its personnel till April.
Singh drove from his residence to the South Block housing the Defence Ministry for the crucial meeting.
The meeting comes against the backdrop of a new low in ties with Pakistan, which is not seen as actively cooperating with India in bringing to justice the perpetrators of the Mumbai terror attacks trained from their soil.
Meanwhile, the international intelligence community believes that India will likely attack PoK or elsewhere in Pakistan to settle scores for the multiple November 26 Mumbai attacks.
Mukherjee’s statement, on Friday, at an international conference in Gangtok, Sikkim appears to have lent credence to this suspicion of the global intelligence community.
At the conference Mukherjee said, “If a country cannot keep the assurances that it has given, then it obliges us to consider the entire range of options that exist to protect our interests and people from this menace.”
The suspicion of an Indian attack on Pakistan was raised by Stratfor, a US based private intelligence service provider.
In its latest intelligence forecast, Stratfor said, “Indian military operations against targets in Pakistan have in fact been prepared and await the signal to go forward.”
Stratfor said, unlike the massive troop mobilisation after the Parliament attack in 2002, this time, India’s war preparations are clouded in secrecy and so are invisible.
A high-level assessment of the security scenario in the light of Indo-Pak tensions was undertaken at a marathon meeting chaired by Prime Minister Manmohan Singh at the Defence Ministry here tonight.
Three senior-most Ministers, Pranab Mukherjee, A K Antony and P Chidambaram, besides National Security Adviser M K Narayanan, three services chiefs and intelligence chiefs attended in the meeting, which lasted around four hours. There was no media briefing on it.
Meanwhile, the army is understood to have cancelled leave to its personnel till April.
Singh drove from his residence to the South Block housing the Defence Ministry for the crucial meeting.
The meeting comes against the backdrop of a new low in ties with Pakistan, which is not seen as actively cooperating with India in bringing to justice the perpetrators of the Mumbai terror attacks trained from their soil.
Meanwhile, the international intelligence community believes that India will likely attack PoK or elsewhere in Pakistan to settle scores for the multiple November 26 Mumbai attacks.
Mukherjee’s statement, on Friday, at an international conference in Gangtok, Sikkim appears to have lent credence to this suspicion of the global intelligence community.
At the conference Mukherjee said, “If a country cannot keep the assurances that it has given, then it obliges us to consider the entire range of options that exist to protect our interests and people from this menace.”
The suspicion of an Indian attack on Pakistan was raised by Stratfor, a US based private intelligence service provider.
In its latest intelligence forecast, Stratfor said, “Indian military operations against targets in Pakistan have in fact been prepared and await the signal to go forward.”
Stratfor said, unlike the massive troop mobilisation after the Parliament attack in 2002, this time, India’s war preparations are clouded in secrecy and so are invisible.
Sunday, December 21, 2008
POWERFUL PERSONALITIES OF 2008- NEWSWEEK
New York, 20 DEC 2008.
Congress President Sonia Gandhi and Bollywood superstar Shahrukh Khan have been ranked among the 50 most powerful people in the world by the prestigious US-based magazine 'Newsweek' magazine in a list topped by President- elect Barack Obama.
Pakistan army chief Ashfaq Parvez Kayani, who controls the country's nuclear weapons, is placed 20th on the list of the global "power elite" at the beginning of 2009 in the magazine's January issue.
Obama, who scripted history by becoming the first black-American to be voted to the White House, is followed by Chinese President Hu Jintao, French President Nicolas Sarkozy, British Prime Minister Gordon Brown, German Chancellor Angela Markel and powerful Russian Prime Minister Vladimir Putin.
A surprise inclusion in the list, which the magazine admits is subjective, is Osama bin Laden, whom the Newsweek describes as "global terrorist." North Korean dictator Jim Jong II also finds a place in the list.
Placing Sonia Gandhi at 17th spot, the magazine says though Indian political scene is riven by factions, Congress remains the strongest national force and rules unchallenged.
"In the world's largest democracy, she is the queen." The magazine describes Shahrukh Khan, who occupies 41st spot, as the 'King of Bollywood'.
On Kayani, it says, that in theory this mumbling chain-smoking Pakistan army chief answers to President Asif Ali Zardari. But Kayani and his troops remain the dominant power in what could be the most dangerous country in the world, it adds.
About 47-year-old Obama, it says the presidency of the "intensely charismatic" Democrat, who will be inaugurated on January 20, will be judged on how he handles the economic crisis that now envelops the US and the world. "For Obama to be remembered as a great President, he has to do nothing less than rescue capitalism."
For bin Laden, who finds 42nd spot, the magazine says the manhunt may not have been successful, but it has driven him far underground. Once a glutton for publicity, he has not shot a new video since September 2007, and no audio message from him has been heard since May 2008, it says.
But as the Mumbai attacks showed, bin Laden's ideology continues to inflict monstrous harm," the magazine points out.
Awarding Chinese President Hu second place after Obama, Newsweek says he is a guy "you wouldn't think twice about cautious, colourless and corporate and in the past, he has lost spotlight to other world leaders with bigger egos and sharper elbows."
"But to underestimate Hu would be a monumental error. His position as China's president makes him CEO of a financial juggernaut that's projected to post USD 280 billion trade surplus this year.
"While the rest of the world plunges deeper into recession, Hu the Humble is emerging as the one who is holding the lifeline," it says.
"Economists at Deutsche Bank forecast that the world economy will expand a meager 0.2 per cent in 2009 the worst year since at least 1950. In 2007, growth was almost 5 per cent. Without stronger growth, the slump might feed on itself and fuel economic nationalism," the magazine warns.
Others on the list include the Dalai Lama, former US President Bill Clinton and his wife Hillary, Iranian strongman Ayatollah Ali Khemenei, Saudi King Abdullah bin Abdulaziz Al-Saud, American General David Petraeus, Iraqi leader Nuri al-Maliki, US House Speaker Nancy Pelosi, New York Mayor Michael Bloomberg, Pope Benedict XVI, Media Mogul Rupert Murdoch and popular show host Oprah Winfrey.
Source: ExpressIndia
Congress President Sonia Gandhi and Bollywood superstar Shahrukh Khan have been ranked among the 50 most powerful people in the world by the prestigious US-based magazine 'Newsweek' magazine in a list topped by President- elect Barack Obama.
Pakistan army chief Ashfaq Parvez Kayani, who controls the country's nuclear weapons, is placed 20th on the list of the global "power elite" at the beginning of 2009 in the magazine's January issue.
Obama, who scripted history by becoming the first black-American to be voted to the White House, is followed by Chinese President Hu Jintao, French President Nicolas Sarkozy, British Prime Minister Gordon Brown, German Chancellor Angela Markel and powerful Russian Prime Minister Vladimir Putin.
A surprise inclusion in the list, which the magazine admits is subjective, is Osama bin Laden, whom the Newsweek describes as "global terrorist." North Korean dictator Jim Jong II also finds a place in the list.
Placing Sonia Gandhi at 17th spot, the magazine says though Indian political scene is riven by factions, Congress remains the strongest national force and rules unchallenged.
"In the world's largest democracy, she is the queen." The magazine describes Shahrukh Khan, who occupies 41st spot, as the 'King of Bollywood'.
On Kayani, it says, that in theory this mumbling chain-smoking Pakistan army chief answers to President Asif Ali Zardari. But Kayani and his troops remain the dominant power in what could be the most dangerous country in the world, it adds.
About 47-year-old Obama, it says the presidency of the "intensely charismatic" Democrat, who will be inaugurated on January 20, will be judged on how he handles the economic crisis that now envelops the US and the world. "For Obama to be remembered as a great President, he has to do nothing less than rescue capitalism."
For bin Laden, who finds 42nd spot, the magazine says the manhunt may not have been successful, but it has driven him far underground. Once a glutton for publicity, he has not shot a new video since September 2007, and no audio message from him has been heard since May 2008, it says.
But as the Mumbai attacks showed, bin Laden's ideology continues to inflict monstrous harm," the magazine points out.
Awarding Chinese President Hu second place after Obama, Newsweek says he is a guy "you wouldn't think twice about cautious, colourless and corporate and in the past, he has lost spotlight to other world leaders with bigger egos and sharper elbows."
"But to underestimate Hu would be a monumental error. His position as China's president makes him CEO of a financial juggernaut that's projected to post USD 280 billion trade surplus this year.
"While the rest of the world plunges deeper into recession, Hu the Humble is emerging as the one who is holding the lifeline," it says.
"Economists at Deutsche Bank forecast that the world economy will expand a meager 0.2 per cent in 2009 the worst year since at least 1950. In 2007, growth was almost 5 per cent. Without stronger growth, the slump might feed on itself and fuel economic nationalism," the magazine warns.
Others on the list include the Dalai Lama, former US President Bill Clinton and his wife Hillary, Iranian strongman Ayatollah Ali Khemenei, Saudi King Abdullah bin Abdulaziz Al-Saud, American General David Petraeus, Iraqi leader Nuri al-Maliki, US House Speaker Nancy Pelosi, New York Mayor Michael Bloomberg, Pope Benedict XVI, Media Mogul Rupert Murdoch and popular show host Oprah Winfrey.
Source: ExpressIndia
SIKKIM POLL LIKELY TO BE ANNOUNCED IN FEB END
NEW DELHI:20 DEC 2008. With the Election Commission getting clear indications that the government wants to last the full term, the dates for the 2009 general
election are likely to be announced in the last week of February.
Highly placed sources said unlike the 2004 general election, the next poll could be in more than four phases. But a few states could have single-phased polls also.
Simultaneously, the schedule for assembly elections in Andhra Pradesh, Orissa and Sikkim would also be announced.
Explaining the rationale for more than a four-phase election, sources said apart from logistic reasons, the EC is also taking into account delimitation, Naxal violence, insurgency and increase in election booths to eight lakh from seven lakh at present.
The next general election would also be a test for senior most election commissioner Navin Chawla who would take over from CEC N Gopalaswamy in the middle of the poll process in April.
"We would wait till the vote-on-account gets passed. The government has already said another Parliament session would be called. We have begun our preparations for an early summer election," a senior EC official said referring to the three-day meeting of state chief electoral officers that ended on Thursday. States have been told to complete revision of electoral rolls by January 5, 2009.
EC sources also said that even if the government were to dissolve the Lok Sabha, there would not be any major change in the schedule.
For the next general election, EC has already decided that for the first time every habitation with up to 300 people would have a polling booth. In preparation for the poll, EC has also decided that rules on defacement of public property should be strictly enforced.
EC has also ordered 1.8 lakh Electronic Voting Machines (EVMs) to deal with new booths. The new EVMs would replace the 1.5 lakh existing machines.
As for defacement of public property, EC has prepared a detailed directive to all states. After studying defacement laws of all states, EC decided that in each state the existing law would prevail. In case a state does not have any law, EC has told it that public property should not be defaced during the election campaign. Private property can be used for writing slogans only after seeking the permission of the owner.
( Source:TOI)
election are likely to be announced in the last week of February.
Highly placed sources said unlike the 2004 general election, the next poll could be in more than four phases. But a few states could have single-phased polls also.
Simultaneously, the schedule for assembly elections in Andhra Pradesh, Orissa and Sikkim would also be announced.
Explaining the rationale for more than a four-phase election, sources said apart from logistic reasons, the EC is also taking into account delimitation, Naxal violence, insurgency and increase in election booths to eight lakh from seven lakh at present.
The next general election would also be a test for senior most election commissioner Navin Chawla who would take over from CEC N Gopalaswamy in the middle of the poll process in April.
"We would wait till the vote-on-account gets passed. The government has already said another Parliament session would be called. We have begun our preparations for an early summer election," a senior EC official said referring to the three-day meeting of state chief electoral officers that ended on Thursday. States have been told to complete revision of electoral rolls by January 5, 2009.
EC sources also said that even if the government were to dissolve the Lok Sabha, there would not be any major change in the schedule.
For the next general election, EC has already decided that for the first time every habitation with up to 300 people would have a polling booth. In preparation for the poll, EC has also decided that rules on defacement of public property should be strictly enforced.
EC has also ordered 1.8 lakh Electronic Voting Machines (EVMs) to deal with new booths. The new EVMs would replace the 1.5 lakh existing machines.
As for defacement of public property, EC has prepared a detailed directive to all states. After studying defacement laws of all states, EC decided that in each state the existing law would prevail. In case a state does not have any law, EC has told it that public property should not be defaced during the election campaign. Private property can be used for writing slogans only after seeking the permission of the owner.
( Source:TOI)
Wednesday, December 17, 2008
STATES DEMAND 20% GST
India moved a step closer to a sales tax structure that promises to unify the country’s markets and reduce transaction costs with the finance ministers of all states on Tuesday proposing a 20% goods and service tax (GST), with a larger share of this going to the states.
The empowered committee of state finance ministers, the group that signs off on tax reforms in India, also protested a Union government move to lower the tax rate on aviation turbine fuel (ATF), which is currently taxed by the states at varying rates.
Analysts and experts say GST is a way to simplify India’s so-called indirect taxes. In talks that have gone on for at least a year, the Centre and the states have agreed on a dual GST model. This dual tax will include Central excise duty, service tax and value-added tax (VAT). It will have two constituents: one that will be charged uniformly across the states and the other by the Union government.
According to a minister who attended the meeting of the empowered committee and who did not want to be identified, there is consensus among states that the overall GST rate should be around 20%, with states getting more than half.
The final decision on the rate is yet to be made, he added.
“Kerala is not willing to accept less than 20% as a total GST tax rate,” said Thomas Issac, finance minister of Kerala, who attended the meeting. A person familiar with preliminary negotiations on the rate said some states and the Centre were open to a 18% GST with the two taking an even share, but only if all prevailing tax exemptions are scrapped.
Currently, manufacturers get a tax benefit if they start factories in some states.
The 20% number will still be a decrease from the current rate. S. Madhavan, executive director at audit and consulting firm PricewaterhouseCoopers, says the average incidence of aggregate indirect tax on goods in India is around 24%.
For consumers, however, the patchwork design makes the actual tax incidence opaque.
And for manufacturers, the complicated division of powers between the Centre and states sometimes results in them being taxed twice during the production process, raising the eventual price paid by consumers.
The varying tax incidence also makes uniform pricing of goods difficult.
The ministers also discussed the possibility of the Union government amending the Central Sales Tax Act to unilaterally lower the tax rate on ATF in order to help India’s beleaguered loss-making airlines.
sanjeev.s@livemint.com P.R. Sanjai and Teena Jain contributed to this story.
The empowered committee of state finance ministers, the group that signs off on tax reforms in India, also protested a Union government move to lower the tax rate on aviation turbine fuel (ATF), which is currently taxed by the states at varying rates.
Analysts and experts say GST is a way to simplify India’s so-called indirect taxes. In talks that have gone on for at least a year, the Centre and the states have agreed on a dual GST model. This dual tax will include Central excise duty, service tax and value-added tax (VAT). It will have two constituents: one that will be charged uniformly across the states and the other by the Union government.
According to a minister who attended the meeting of the empowered committee and who did not want to be identified, there is consensus among states that the overall GST rate should be around 20%, with states getting more than half.
The final decision on the rate is yet to be made, he added.
“Kerala is not willing to accept less than 20% as a total GST tax rate,” said Thomas Issac, finance minister of Kerala, who attended the meeting. A person familiar with preliminary negotiations on the rate said some states and the Centre were open to a 18% GST with the two taking an even share, but only if all prevailing tax exemptions are scrapped.
Currently, manufacturers get a tax benefit if they start factories in some states.
The 20% number will still be a decrease from the current rate. S. Madhavan, executive director at audit and consulting firm PricewaterhouseCoopers, says the average incidence of aggregate indirect tax on goods in India is around 24%.
For consumers, however, the patchwork design makes the actual tax incidence opaque.
And for manufacturers, the complicated division of powers between the Centre and states sometimes results in them being taxed twice during the production process, raising the eventual price paid by consumers.
The varying tax incidence also makes uniform pricing of goods difficult.
The ministers also discussed the possibility of the Union government amending the Central Sales Tax Act to unilaterally lower the tax rate on ATF in order to help India’s beleaguered loss-making airlines.
sanjeev.s@livemint.com P.R. Sanjai and Teena Jain contributed to this story.
NATHULA TRADE THIS SEASON
Nathu La trade concludes with Rs. 9.6 mn turnover
Nathu La (Sikkim) (IANS): Trade between India and China through the fabled Silk Road closed over the weekend for the year 2008 with business worth Rs.9.6 million (approx $192,000) done since May, officials Monday said.
"Since trade reopened May 19, the two countries did business worth about Rs.9.6 million. Indian traders did the bulk of the business estimated at about Rs.9.5 million, while Chinese traders just managed to do business worth Rs.135,000," an official of the Sikkim industry and commerce department said.
The two Asian giants in July 2006 reopened trade across the 15,000 feet Nathu La Pass, 52 km east of Sikkim's capital Gangtok, as part of a broader rapprochement.
The move marked the first direct trade link between the nuclear-armed neighbours since a bitter border war in 1962.
"Formal trade for the current year ended Thursday," the official said.
Trade would resume from May 1, 2009.
Under an agreement reached between the two countries, trade takes place four days a week - Monday to Thursday - beginning May each year and lasting until Nov 30 when snow makes the area impassable.
The sluggish border trade between the two countries is due to restrictions in tradable items - India can import 15 items from China including silk, yak pelts and horses, and export 29 goods that include textiles, tea, rice, vegetables and herbs.
Bilateral trade in 2006 through Nathu La saw business worth about Rs.2 million with Indian traders doing business worth about Rs.1.1 million. Last year, the volume of trade was to the tune of Rs 2.6 million.
"Business this year was comparatively good although we need to work out measures to boost the volume of trade by reviewing the list of tradable items on both sides," the official said.
Although two-way trade was slow in the first three seasons, about 1,900 Chinese traders crossed the border separated by a rusty barbed wire marker to the bazaar of Sherathang, five kilometres below the pass on the Indian side.
About 1,200 Indian traders headed to the Renqinggang interim market in Tibet on the Chinese side, 16 km from the border, during the first three seasons. Businesspersons from both sides of the border were also seeking a broadening of the list of items traded through the Nathu-La pass.
"The list of tradable items should be increased and include commodities like locally made beer, medicines, jam, processed food products, floriculture and horticultural products so that business grows," said S.K. Sarda, president of the Sikkim Chamber of Commerce.
"The Chinese traders have been selling just yak pelts and sheep wool. It is imperative that the two countries decide to review the present export-import list."
Beijing had in 2003 given up its territorial claim over the Indian state of Sikkim but was still holding on to its age old stand that a vast stretch of Arunachal Pradesh belongs to them.
China has never recognised the 1914 boundary, known as the McMahon Line, and claims 90,000 sq km -- nearly all of Arunachal Pradesh in India's northeast. India also accuses China of occupying 38,000 sq km in Kashmir.
(SOURCE:IANS
Nathu La (Sikkim) (IANS): Trade between India and China through the fabled Silk Road closed over the weekend for the year 2008 with business worth Rs.9.6 million (approx $192,000) done since May, officials Monday said.
"Since trade reopened May 19, the two countries did business worth about Rs.9.6 million. Indian traders did the bulk of the business estimated at about Rs.9.5 million, while Chinese traders just managed to do business worth Rs.135,000," an official of the Sikkim industry and commerce department said.
The two Asian giants in July 2006 reopened trade across the 15,000 feet Nathu La Pass, 52 km east of Sikkim's capital Gangtok, as part of a broader rapprochement.
The move marked the first direct trade link between the nuclear-armed neighbours since a bitter border war in 1962.
"Formal trade for the current year ended Thursday," the official said.
Trade would resume from May 1, 2009.
Under an agreement reached between the two countries, trade takes place four days a week - Monday to Thursday - beginning May each year and lasting until Nov 30 when snow makes the area impassable.
The sluggish border trade between the two countries is due to restrictions in tradable items - India can import 15 items from China including silk, yak pelts and horses, and export 29 goods that include textiles, tea, rice, vegetables and herbs.
Bilateral trade in 2006 through Nathu La saw business worth about Rs.2 million with Indian traders doing business worth about Rs.1.1 million. Last year, the volume of trade was to the tune of Rs 2.6 million.
"Business this year was comparatively good although we need to work out measures to boost the volume of trade by reviewing the list of tradable items on both sides," the official said.
Although two-way trade was slow in the first three seasons, about 1,900 Chinese traders crossed the border separated by a rusty barbed wire marker to the bazaar of Sherathang, five kilometres below the pass on the Indian side.
About 1,200 Indian traders headed to the Renqinggang interim market in Tibet on the Chinese side, 16 km from the border, during the first three seasons. Businesspersons from both sides of the border were also seeking a broadening of the list of items traded through the Nathu-La pass.
"The list of tradable items should be increased and include commodities like locally made beer, medicines, jam, processed food products, floriculture and horticultural products so that business grows," said S.K. Sarda, president of the Sikkim Chamber of Commerce.
"The Chinese traders have been selling just yak pelts and sheep wool. It is imperative that the two countries decide to review the present export-import list."
Beijing had in 2003 given up its territorial claim over the Indian state of Sikkim but was still holding on to its age old stand that a vast stretch of Arunachal Pradesh belongs to them.
China has never recognised the 1914 boundary, known as the McMahon Line, and claims 90,000 sq km -- nearly all of Arunachal Pradesh in India's northeast. India also accuses China of occupying 38,000 sq km in Kashmir.
(SOURCE:IANS
SIKKIM VC IN NATIONAL SECURITY ADVISORY BOARD
Sikkim VC appointed as the member of National Security Advisory Board
Nanda Kirati Dewan 26 November, 2008 12:45:00
Prof Mahendra P Lama, Vice Chancellor of Sikkim University has been appointed as a Member of the prestigious National Security Advisory Board (NSAB) by the National Security Adviser to the Prime Minister. NSAB is an important element of the National Security Council system with the main function of advising the Government on security related issues. It is a multi-disciplinary body comprising a Chairman and persons of eminence from outside the Government with expertise in the fields of foreign affairs, defence, economics, science and technology, intelligence, internal security, media and related areas.
Prof Lama a development economist by profession is the youngest member of the NSAB. He has been invited to be a member of the Board in view of his long experience in dealing with issues which are critical for national security mainly from the economic and financial perspectives.
There are 28 members drawn from various professional backgrounds in the NSAB. They include Shri KS Bajpai, former Foreign Secretary (Chairman), Prof Shankar Acharya, former Chief Economic Advisor to the Govt of India, Ms Sobhana Bharatia, Chairperson, Hindustan Times, Shri Naresh Chandra, former Cabinet Secretary, Shri HK Deka, former Director General of Police, Assam, Dr Nitin Desai, former Deputy Secretary General of the United Nations Organization; Shri HK Dua, Chief Editor, The Tribune; Dr Prodipto Ghose, former Secretary, Ministry of Environment and Forests; Prof PS Goel, Indian Space Research Organisation; Vice Admiral KK Nayyar; Shri SC Mehta, former Special Director, Intelligence Bureau; Admiral Arun Prakash, former Chief of Naval Staff; Prof V Ramamurthy, Chairman, Indian Institute of Technology, New Delhi; Dr P Rama Rao, Member, Atomic Energy Commission, Gen Aditya Singh formerly the GOC of Southern Command; Former Air Chief Marshal SP Tyagi and Shri PKH Tharakan former Secretary (R&AW).
Source: Assam Times
Nanda Kirati Dewan 26 November, 2008 12:45:00
Prof Mahendra P Lama, Vice Chancellor of Sikkim University has been appointed as a Member of the prestigious National Security Advisory Board (NSAB) by the National Security Adviser to the Prime Minister. NSAB is an important element of the National Security Council system with the main function of advising the Government on security related issues. It is a multi-disciplinary body comprising a Chairman and persons of eminence from outside the Government with expertise in the fields of foreign affairs, defence, economics, science and technology, intelligence, internal security, media and related areas.
Prof Lama a development economist by profession is the youngest member of the NSAB. He has been invited to be a member of the Board in view of his long experience in dealing with issues which are critical for national security mainly from the economic and financial perspectives.
There are 28 members drawn from various professional backgrounds in the NSAB. They include Shri KS Bajpai, former Foreign Secretary (Chairman), Prof Shankar Acharya, former Chief Economic Advisor to the Govt of India, Ms Sobhana Bharatia, Chairperson, Hindustan Times, Shri Naresh Chandra, former Cabinet Secretary, Shri HK Deka, former Director General of Police, Assam, Dr Nitin Desai, former Deputy Secretary General of the United Nations Organization; Shri HK Dua, Chief Editor, The Tribune; Dr Prodipto Ghose, former Secretary, Ministry of Environment and Forests; Prof PS Goel, Indian Space Research Organisation; Vice Admiral KK Nayyar; Shri SC Mehta, former Special Director, Intelligence Bureau; Admiral Arun Prakash, former Chief of Naval Staff; Prof V Ramamurthy, Chairman, Indian Institute of Technology, New Delhi; Dr P Rama Rao, Member, Atomic Energy Commission, Gen Aditya Singh formerly the GOC of Southern Command; Former Air Chief Marshal SP Tyagi and Shri PKH Tharakan former Secretary (R&AW).
Source: Assam Times
Mumbai accounts for nearly 5% of the India’s US$ 1 trillion (Rs 49.9 trillion) GDP and contributes one-third of its direct tax colletion. However, the recent terror attacks on the city (which as we write this is still underway) has jolted the confidence in the entire nation. The city of Mumbai is not new to terror attacks and has seen eight major terrorist attacks in the past 15 years. However, what makes matters worse in the latest case is the fact that it has come at a time when the economy is withstanding a global recession.
Already reeling under the impact of the economic meltdown, domestic as well as international travel to the country is set to take a huge impact of the terrorist assault on Mumbai, particularly on two of its most popular luxury hotels. Travel companies expect businesses to fall at least 25% to 30% in December, which is otherwise the peak of the busy travel season. To put things in perspective, November to January constitutes 50% of total inbound tourist flow into the country. Making matters worse is the fact that even business and work-related travel to the country is likely to get affected with most MNCs discouraging their employees from visiting the country in the near term
Already reeling under the impact of the economic meltdown, domestic as well as international travel to the country is set to take a huge impact of the terrorist assault on Mumbai, particularly on two of its most popular luxury hotels. Travel companies expect businesses to fall at least 25% to 30% in December, which is otherwise the peak of the busy travel season. To put things in perspective, November to January constitutes 50% of total inbound tourist flow into the country. Making matters worse is the fact that even business and work-related travel to the country is likely to get affected with most MNCs discouraging their employees from visiting the country in the near term
PUNJ LLOYD LOWEST BIDDER FOR SIKKIM AIRPORT
Punj Lloyd lowest bidder for Sikkim airport
( Source: Moneycontrol)
The company has emerged as a lowest bidder for Sikkim airport, reports DNA.
( Source: Moneycontrol)
The company has emerged as a lowest bidder for Sikkim airport, reports DNA.
Sunday, November 16, 2008
PM STATEMENT AT G 20 SUMMIT
PM’s statement at the Summit of Heads of State or Governments of the G-20 countries on Financial Markets and the World Economy
--------------------------------------------------------------------------------
Following is the statement by the Prime Minister Dr Manmohan Singh at the G-20 Summit in Washington today 15TH Nov 2008:
“We are meeting at a time of exceptional difficulty for the world economy. The financial crisis, which a year ago seemed to be localized in one part of the financial system in the US, has exploded into a systemic crisis, spreading through the highly interconnected financial markets of industrialized countries, and has had its effects on other markets also.
It has choked normal credit channels, triggered a worldwide collapse in stock markets around the world. The real economy is clearly affected. Industrialised countries were expected to slow down in 2008. They are now projected to be in a recession in the second half of the year, and there is as yet little prospect of an early recovery. Many have called it the most serious crisis since the Great Depression.
Emerging market countries were not the cause of this crisis, but they are amongst its worst affected victims. Recession will hit the export performance of developing countries and the choking of credit, combined with elevated risk perception, will lead to lower capital flows and reduced levels of foreign direct investment. The combined effect will be to slow down economic growth in developing countries.
India is experiencing this negative impact. After growing at close to 9% per year for four years, our growth rate is expected to slow down to between 7 to 7.5% in the current financial year. The pace of growth next year will depend, in part, upon how long the global recession lasts and how quickly global capital flows return to normal. Much of India’s growth is internally driven and I expect we can maintain a strong pace of growth in the coming years, but many developing countries will be harder hit.
A slowing down of growth in developing countries will push millions of people back into poverty, with adverse effects on nutrition, health and education levels. These are not transient impacts but will impact a full generation. If we are to prevent a slide back and ensure that MDGs are achieved, we need to ensure that growth in developing economies is not affected.
Since the crisis is global, it calls for a coordinated global response and this summit is therefore timely. In our discussions, we need to distinguish between the immediate priority, which must be to bring the crisis under control as quickly as possible with as little adverse effect on developing countries, and the medium term objective of reforming the global financial architecture to prevent similar crises in future. I will comment briefly on both.
As far as the immediate priority is concerned, I recognize that a number of important steps have already been taken by countries to inject liquidity into the financial system, recapitalize banks and other systemically important institutions. Some countries have also introduced a number of innovative, even unorthodox, measures to restore confidence so that the financial system could start functioning again. These measures have had some effect, but the crisis is far from over. Credit channels remain clogged and the signs of distress in the real economy suggest that additional measures are needed.
An obvious issue is to consider whether the emergence of recessionary trends calls for some fiscal stimulus. A coordinated fiscal stimulus by countries that are in a position to do so would help to mitigate the severity and duration of the recession. It would also send a strong signal to investors around the world. Resort to fiscal stimulus may be viewed as risky in some situations, but if we are indeed on the brink of the worst downturn since the Great Depression, the risk may be worth taking. We should therefore take all possible measures at the national level to complement any coordinated international stimulus.
The international community needs to consider special initiatives to counter the shrinkage of capital flows to developing countries that is almost certain to occur over the next two years. The initiative by the IMF to establish a new liquidity facility is a welcome step. However, we must also consider whether the IMF is adequately funded for the task it will face in managing this global crisis. Looking ahead we must plan for possible additional demands on the IMF if the global recession is pronounced. This suggests that we must activate a process for replenishing IMF resources.
An alternative to the IMF as a source of quick disbursing liquidity is the establishment of short term swap arrangements. The existence of such arrangements will reduce the burden on the IMF and will add to confidence in the system. Countries in a position to do so should consider the scope for expanding such arrangements.
Depressed conditions in the global economy are likely to produce a downturn in private investment in developing countries which will worsen recessionary trends. It is necessary to take steps to counter this development. Expanding investment in infrastructure by the public sector and also the private sector where possible is an ideal countercyclical device. It has the immediate effect of stimulating demand counter-cyclically and the longer-term effect of laying the conditions for an early return to faster growth. Investment in infrastructure today is perhaps the best signal for reviving private investment, including FDI, tomorrow.
This requires new and innovative ways of solving the financing problems that will restrain infrastructure investment. The World Bank, regional development banks and national governments need to consider measures such as providing additional credit for infrastructure projects, promote new instruments for infrastructure financing and providing capital and liquidity support to banking institutions to lend to infrastructure projects that are underway. The World Bank / IFC and the Regional Development banks should aim at making an additional $50 billion per year in support of infrastructure development in the public and private sectors. This window can be wound down once normalcy returns to global capital flows.
Industrialized countries can also help to revive trade flows in developing countries by expanding the scale of export credit finance available to these countries. We know there is a temporary market failure in this area with elevated risk perceptions which discourage private flows. There is a need to intervene to overcome market failure. A collapse of trade is the last thing that one wants in the current crisis, with all its implications for growth and employment. Concerted government action in expanding export credit financing on reasonable terms will help support the pace of development in developing countries, which is critical for achieving poverty alleviation and employment objectives.
Our willingness to take specific steps to support developing countries in this period of exceptional difficulty will be a test of our collective leadership. Many developing countries have made strenuous efforts to implement economic reforms to deal with the challenges of an increasingly open and globalised world. This has often required implementation of policies which have aroused domestic fears and uncertainties. We have persevered in this process and have benefited from it. Economic performance in almost all developing countries has improved. In the process, attitudes towards globalization have begun to change and people all over the world have come to appreciate the enormous benefits that can be derived from global economic integration. It would be a great pity if this growing support for open policies in the developing world is weakened because of a failure to protect developing countries from a recession which is not of their making.
We need to take urgent steps to strengthen the global trading system and forestall any protectionist tendencies which always surface in times of recession. A successful conclusion of the on-going multilateral trade talks would be an important confidence builder at this stage. We are willing to work constructively with other major players to reach a balanced and mutually beneficial outcome.
While our immediate priority should be to deal with the crisis which is still unfolding, we also need to look ahead to see what changes are needed in the global financial architecture to avoid such crisis from recurring. Much useful work in this area has already been done by Finance Ministers and there is considerable consensus on many areas. I will, therefore, limit my remarks to a few points.
I agree with the general consensus that there are several factors behind the crisis and the future global economic architecture must be designed to deal with these. These include failure of regulatory and supervisory mechanisms, inadequate appreciation and management of systemic risks and inadequate transparency in financial institutions.
The new architecture we design must include a credible system of multilateral surveillance which can signal the emergence of imbalances that are likely to have systemic effects, and also put in motion a process of consultation that can yield results in terms of policy coordination. At this point, I would like to emphasise the importance of broad based multilateral approaches to our efforts. Bodies such as the G-7 are no longer sufficient to meet the demands of the day. We need to ensure that any new architecture we design is genuinely multilateral with adequate representation from countries reflecting changes in economic realities.
The International Monetary Fund is the logical body to perform the task of multilateral surveillance of macro-economic imbalances and their relationship to financial stability. However, it is relevant to ask whether its systems and procedures are adequate to the task. Over the years, the Fund has become marginal to the task of policy analysis and consultations on macro-economic imbalances and related policies in the major countries. That task is now performed in other forums, though it is questionable whether it is being performed well. I believe we need a comprehensive review of the procedures of the IMF leading to recommendations on governance reform which would enable the Fund to perform the role of macro-economic policy coordination.
An important element of longer term reform is to restructure the representation in the governance levels of the Fund to reflect the current and prospective economic realities. Quota reform is the normal way to effect a change in voting power but it has been contentious and incremental, and what has been achieved thus far has fallen far short of what is needed. The Board of Governors of the IMF should be explicitly charged with exploring alternative modalities to achieve a more legitimate representation.
Looking ahead, we also have to pay attention to the many regulatory gaps in the financial system which allowed the development of excess leverage and the risks associated with it. It is obvious that we need better systems of risk management and better regulation and supervision, especially of institutions that have a global reach and are dealing in financial instruments that are exceedingly complex. Managers of financial institutions, credit rating agencies and regulators have to do a much better job. The structure of incentives in the system has to be aligned to this end. We also need to examine whether the existing forums of regulators that are there are adequate and cover the entire gamut of regulatory and supervisory activities that are required.
These are technical issues that should be tackled in the specialized forums dealing with financial stability, notably the Basle Committee on Banking Supervision and the Financial Stability Forum. However, both these bodies need to have broader representation than they do at present. International co-ordination on regulatory issues would be more easily achieved if the principal forums where these issues are discussed were seen to be more representative. Broad basing the present representation in these forums is much easier to achieve and I hope this Summit will give a clear signal in this direction. It will certainly build confidence in our intention over the longer term to achieve significant reform in the governance of the global financial system.
Given the fact that this financial crisis has affected growth prospects across the board, we also need to examine the present structures of trade and development finance to consider how to ensure greater stability in these flows in the face of difficult situations such as the current one. This issue could be examined by the expert group I have referred to or by separate group focusing on this issue. Its work could lead to the design of appropriate international mechanisms and instruments for maintaining and enhancing these flows in future.
The convening of this Summit has raised expectations in many circles that we will work to produce a new Bretton Woods II. The world has certainly changed sufficiently to need a new architecture, but this can only be done on the basis of much greater preparation and consultation. We can however signal that we are serious about starting a process that will, in time, produce an architecture suited to the new challenges and vulnerabilities facing the world economy and reflective of the changes that have taken place in the economic structure. We must also give the world a clear signal of our resolve to take specific coordinated action to handle the current crisis in a manner which restores confidence and which also responds to the needs of developing countries. We need to ensure that the processes we set in motion today safeguard and promote the welfare of our future generations.
***
AD/HS ( SOURCE:PIB)
--------------------------------------------------------------------------------
Following is the statement by the Prime Minister Dr Manmohan Singh at the G-20 Summit in Washington today 15TH Nov 2008:
“We are meeting at a time of exceptional difficulty for the world economy. The financial crisis, which a year ago seemed to be localized in one part of the financial system in the US, has exploded into a systemic crisis, spreading through the highly interconnected financial markets of industrialized countries, and has had its effects on other markets also.
It has choked normal credit channels, triggered a worldwide collapse in stock markets around the world. The real economy is clearly affected. Industrialised countries were expected to slow down in 2008. They are now projected to be in a recession in the second half of the year, and there is as yet little prospect of an early recovery. Many have called it the most serious crisis since the Great Depression.
Emerging market countries were not the cause of this crisis, but they are amongst its worst affected victims. Recession will hit the export performance of developing countries and the choking of credit, combined with elevated risk perception, will lead to lower capital flows and reduced levels of foreign direct investment. The combined effect will be to slow down economic growth in developing countries.
India is experiencing this negative impact. After growing at close to 9% per year for four years, our growth rate is expected to slow down to between 7 to 7.5% in the current financial year. The pace of growth next year will depend, in part, upon how long the global recession lasts and how quickly global capital flows return to normal. Much of India’s growth is internally driven and I expect we can maintain a strong pace of growth in the coming years, but many developing countries will be harder hit.
A slowing down of growth in developing countries will push millions of people back into poverty, with adverse effects on nutrition, health and education levels. These are not transient impacts but will impact a full generation. If we are to prevent a slide back and ensure that MDGs are achieved, we need to ensure that growth in developing economies is not affected.
Since the crisis is global, it calls for a coordinated global response and this summit is therefore timely. In our discussions, we need to distinguish between the immediate priority, which must be to bring the crisis under control as quickly as possible with as little adverse effect on developing countries, and the medium term objective of reforming the global financial architecture to prevent similar crises in future. I will comment briefly on both.
As far as the immediate priority is concerned, I recognize that a number of important steps have already been taken by countries to inject liquidity into the financial system, recapitalize banks and other systemically important institutions. Some countries have also introduced a number of innovative, even unorthodox, measures to restore confidence so that the financial system could start functioning again. These measures have had some effect, but the crisis is far from over. Credit channels remain clogged and the signs of distress in the real economy suggest that additional measures are needed.
An obvious issue is to consider whether the emergence of recessionary trends calls for some fiscal stimulus. A coordinated fiscal stimulus by countries that are in a position to do so would help to mitigate the severity and duration of the recession. It would also send a strong signal to investors around the world. Resort to fiscal stimulus may be viewed as risky in some situations, but if we are indeed on the brink of the worst downturn since the Great Depression, the risk may be worth taking. We should therefore take all possible measures at the national level to complement any coordinated international stimulus.
The international community needs to consider special initiatives to counter the shrinkage of capital flows to developing countries that is almost certain to occur over the next two years. The initiative by the IMF to establish a new liquidity facility is a welcome step. However, we must also consider whether the IMF is adequately funded for the task it will face in managing this global crisis. Looking ahead we must plan for possible additional demands on the IMF if the global recession is pronounced. This suggests that we must activate a process for replenishing IMF resources.
An alternative to the IMF as a source of quick disbursing liquidity is the establishment of short term swap arrangements. The existence of such arrangements will reduce the burden on the IMF and will add to confidence in the system. Countries in a position to do so should consider the scope for expanding such arrangements.
Depressed conditions in the global economy are likely to produce a downturn in private investment in developing countries which will worsen recessionary trends. It is necessary to take steps to counter this development. Expanding investment in infrastructure by the public sector and also the private sector where possible is an ideal countercyclical device. It has the immediate effect of stimulating demand counter-cyclically and the longer-term effect of laying the conditions for an early return to faster growth. Investment in infrastructure today is perhaps the best signal for reviving private investment, including FDI, tomorrow.
This requires new and innovative ways of solving the financing problems that will restrain infrastructure investment. The World Bank, regional development banks and national governments need to consider measures such as providing additional credit for infrastructure projects, promote new instruments for infrastructure financing and providing capital and liquidity support to banking institutions to lend to infrastructure projects that are underway. The World Bank / IFC and the Regional Development banks should aim at making an additional $50 billion per year in support of infrastructure development in the public and private sectors. This window can be wound down once normalcy returns to global capital flows.
Industrialized countries can also help to revive trade flows in developing countries by expanding the scale of export credit finance available to these countries. We know there is a temporary market failure in this area with elevated risk perceptions which discourage private flows. There is a need to intervene to overcome market failure. A collapse of trade is the last thing that one wants in the current crisis, with all its implications for growth and employment. Concerted government action in expanding export credit financing on reasonable terms will help support the pace of development in developing countries, which is critical for achieving poverty alleviation and employment objectives.
Our willingness to take specific steps to support developing countries in this period of exceptional difficulty will be a test of our collective leadership. Many developing countries have made strenuous efforts to implement economic reforms to deal with the challenges of an increasingly open and globalised world. This has often required implementation of policies which have aroused domestic fears and uncertainties. We have persevered in this process and have benefited from it. Economic performance in almost all developing countries has improved. In the process, attitudes towards globalization have begun to change and people all over the world have come to appreciate the enormous benefits that can be derived from global economic integration. It would be a great pity if this growing support for open policies in the developing world is weakened because of a failure to protect developing countries from a recession which is not of their making.
We need to take urgent steps to strengthen the global trading system and forestall any protectionist tendencies which always surface in times of recession. A successful conclusion of the on-going multilateral trade talks would be an important confidence builder at this stage. We are willing to work constructively with other major players to reach a balanced and mutually beneficial outcome.
While our immediate priority should be to deal with the crisis which is still unfolding, we also need to look ahead to see what changes are needed in the global financial architecture to avoid such crisis from recurring. Much useful work in this area has already been done by Finance Ministers and there is considerable consensus on many areas. I will, therefore, limit my remarks to a few points.
I agree with the general consensus that there are several factors behind the crisis and the future global economic architecture must be designed to deal with these. These include failure of regulatory and supervisory mechanisms, inadequate appreciation and management of systemic risks and inadequate transparency in financial institutions.
The new architecture we design must include a credible system of multilateral surveillance which can signal the emergence of imbalances that are likely to have systemic effects, and also put in motion a process of consultation that can yield results in terms of policy coordination. At this point, I would like to emphasise the importance of broad based multilateral approaches to our efforts. Bodies such as the G-7 are no longer sufficient to meet the demands of the day. We need to ensure that any new architecture we design is genuinely multilateral with adequate representation from countries reflecting changes in economic realities.
The International Monetary Fund is the logical body to perform the task of multilateral surveillance of macro-economic imbalances and their relationship to financial stability. However, it is relevant to ask whether its systems and procedures are adequate to the task. Over the years, the Fund has become marginal to the task of policy analysis and consultations on macro-economic imbalances and related policies in the major countries. That task is now performed in other forums, though it is questionable whether it is being performed well. I believe we need a comprehensive review of the procedures of the IMF leading to recommendations on governance reform which would enable the Fund to perform the role of macro-economic policy coordination.
An important element of longer term reform is to restructure the representation in the governance levels of the Fund to reflect the current and prospective economic realities. Quota reform is the normal way to effect a change in voting power but it has been contentious and incremental, and what has been achieved thus far has fallen far short of what is needed. The Board of Governors of the IMF should be explicitly charged with exploring alternative modalities to achieve a more legitimate representation.
Looking ahead, we also have to pay attention to the many regulatory gaps in the financial system which allowed the development of excess leverage and the risks associated with it. It is obvious that we need better systems of risk management and better regulation and supervision, especially of institutions that have a global reach and are dealing in financial instruments that are exceedingly complex. Managers of financial institutions, credit rating agencies and regulators have to do a much better job. The structure of incentives in the system has to be aligned to this end. We also need to examine whether the existing forums of regulators that are there are adequate and cover the entire gamut of regulatory and supervisory activities that are required.
These are technical issues that should be tackled in the specialized forums dealing with financial stability, notably the Basle Committee on Banking Supervision and the Financial Stability Forum. However, both these bodies need to have broader representation than they do at present. International co-ordination on regulatory issues would be more easily achieved if the principal forums where these issues are discussed were seen to be more representative. Broad basing the present representation in these forums is much easier to achieve and I hope this Summit will give a clear signal in this direction. It will certainly build confidence in our intention over the longer term to achieve significant reform in the governance of the global financial system.
Given the fact that this financial crisis has affected growth prospects across the board, we also need to examine the present structures of trade and development finance to consider how to ensure greater stability in these flows in the face of difficult situations such as the current one. This issue could be examined by the expert group I have referred to or by separate group focusing on this issue. Its work could lead to the design of appropriate international mechanisms and instruments for maintaining and enhancing these flows in future.
The convening of this Summit has raised expectations in many circles that we will work to produce a new Bretton Woods II. The world has certainly changed sufficiently to need a new architecture, but this can only be done on the basis of much greater preparation and consultation. We can however signal that we are serious about starting a process that will, in time, produce an architecture suited to the new challenges and vulnerabilities facing the world economy and reflective of the changes that have taken place in the economic structure. We must also give the world a clear signal of our resolve to take specific coordinated action to handle the current crisis in a manner which restores confidence and which also responds to the needs of developing countries. We need to ensure that the processes we set in motion today safeguard and promote the welfare of our future generations.
***
AD/HS ( SOURCE:PIB)
NATHU LA TRADE THIS SEASON
Gangtok, Nov. 14: Chinese trade through Nathu-la continues to falter compared to business on the Indian side. But it is not the global economic meltdown that has hit the neighbouring country.
Rather, it is the “obsolete” items, which China can export, that have made the trade a one-sided affair.
The volume of trade from May 19 to October 30 stood at nearly Rs 59 lakh as against Rs 34.6 lakh in the same period last year. The Sikkimese traders exported items worth Rs 57.6 lakh, while the imports from China were Rs 1.35 lakh. Edible items topped the list of articles sent to China in 2008, the third year since the reopening of the trade route located at 14,400ft above sealevel.
Official records of the trade through Nathu-la available with the Sikkim commerce and industries department reveal that the businessmen from the state have a monopoly over their counterparts in the Tibetan Autonomous Region (TAR) in China. While the Indian exporters can send 29 items, including tea, flour, vegetable oil, cigarettes and liquor, China can sell 15 items permitted by India.
Anil Kumar Gupta,General Secretary, India-China Traders’ Association, said the Chinese could have done better if silk was permitted to be exported by them. “The list of items that the Chinese can export includes obsolete articles like goat’s hair, yak’s tail, China clay and horses. Our exports could have touched the crore mark had we been allowed to sell Basmati rice.”
Quoting official figures, Gupta said this year, over a thousand traders from Sikkim had visited the Renquingang trade mart in TAR, 16km from the border, while double the number of their Chinese counterparts came to the Sherathang post near Nathu-la.
“If more Indian exporters had gone across the border, the volume of trade would have certainly gone up,” he said.
An official of the Sikkim commerce department said the state government had made several attempts to persuade the Centre to revise the trade list but did not get any response. “We had prepared the list and sent it to the Union commerce ministry,” the official said.
The trade through Nathu-la will close on November 30. The traders from both the countries will meet at Sherathang on that day and review the business conducted through out the year.
Rather, it is the “obsolete” items, which China can export, that have made the trade a one-sided affair.
The volume of trade from May 19 to October 30 stood at nearly Rs 59 lakh as against Rs 34.6 lakh in the same period last year. The Sikkimese traders exported items worth Rs 57.6 lakh, while the imports from China were Rs 1.35 lakh. Edible items topped the list of articles sent to China in 2008, the third year since the reopening of the trade route located at 14,400ft above sealevel.
Official records of the trade through Nathu-la available with the Sikkim commerce and industries department reveal that the businessmen from the state have a monopoly over their counterparts in the Tibetan Autonomous Region (TAR) in China. While the Indian exporters can send 29 items, including tea, flour, vegetable oil, cigarettes and liquor, China can sell 15 items permitted by India.
Anil Kumar Gupta,General Secretary, India-China Traders’ Association, said the Chinese could have done better if silk was permitted to be exported by them. “The list of items that the Chinese can export includes obsolete articles like goat’s hair, yak’s tail, China clay and horses. Our exports could have touched the crore mark had we been allowed to sell Basmati rice.”
Quoting official figures, Gupta said this year, over a thousand traders from Sikkim had visited the Renquingang trade mart in TAR, 16km from the border, while double the number of their Chinese counterparts came to the Sherathang post near Nathu-la.
“If more Indian exporters had gone across the border, the volume of trade would have certainly gone up,” he said.
An official of the Sikkim commerce department said the state government had made several attempts to persuade the Centre to revise the trade list but did not get any response. “We had prepared the list and sent it to the Union commerce ministry,” the official said.
The trade through Nathu-la will close on November 30. The traders from both the countries will meet at Sherathang on that day and review the business conducted through out the year.
Friday, November 14, 2008
CASINO IN SIKKIM
The new royal casino player in India is here!
Official nod to Royal Plaza to begin casino
GANGTOK, November 12: Step aside Goa, make way for the new royal player from this Himalayan State who today was officially crowned as the first 'land based live' casino in the entire length and breadth of the nation.
In a momentous step towards promoting high end tourism, Sikkim government today authorized Teesta Rangit Private Ltd for installation and operation of casino games at the premises of its luxury hotel, The Royal Plaza here.
Apart from the natural appeal, this mountainous State will have the new attraction radiating from this 60 roomed hotel that has now become all set to roll out its roulette, card tables and slot machines and give its western neighbour Nepal and far flung competitors Goa a run for its money, literally.
The permission granted by the State government is a provisional license that enables the Royal Plaza to run casino till it fully classified as a five star hotel by the Ministry of Tourism.
Original license will be issued to Royal Plaza only after it fulfills the norms of a five star hotel within 5 years as per the guidelines of the Ministry of Tourism.
An elated Naresh Subba who is the director of Royal Plaza hotel said: "With the provisional license, I can start the casino now. This casino is the first land based live casino in India. We are all set and can begin anytime now".
In case you are ready with your money in this 'game of gamble' as Mr. Subba puts it, you have to hold your chips for at least this month.
"We are planning a soft launch of the casino. We are waiting for the Chief Minister Pawan Chamling to come from his trip and we propose to have him to formally inaugurate the casino", said Mr. Subba. He stressed on the steps taken by the Chief Minister to make Sikkim as a major tourism hub and expressed his gratitude for choosing The Royal Plaza for the casino.
The humble opening plans means that the hotel first wants to play its cards carefully till the final showdown when all the games are in place in an enlarged version.
Once the formal opening is done, 40 slot machines, blackjack, poker, baccarat tables and manually controlled roulette awaits those having a taste for financial adventure.
A tour of the prototype casino hall was given by the director to Sikkim Express today evening.
"This casino hall is just a prototype. We will be shifting it in a larger space on the lower level floor of the hotel", informed Mr. Subba.
Sikkim government had set the casino ball rolling when it notified the Sikkim Casino Games (Control and Taxes) Rules, 2007 thereby inviting interested parties for setting up casinos in the State.
Till this period, only Goa had allowed casinos that too electronically controlled.
The objective of the State government was to attract high end domestic and foreign tourists with the casino bid which had already created ripples in the hospitality sector both national and internationally.
Savoring the two page certification from the State government, the Royal Plaza director is thinking big both for the hotel and casino in terms of infrastructure and projection. The luxury hotel presently has 60 rooms.
"We will be pumping Rs. 70 crores in the next two years for the expansion of the hotel where the total rooms will reach to 126. We have invested Rs. 5 crores for the casino infrastructure and are planning to add another Rs. 50 crores to enhance the casino before it opens", said Mr. Subba.
Local employment will be enhanced with this expansion drive. There are now 150 employees in the hotel and with the casino coming up, there will be 300 new jobs opening up, said Mr. Subba.
In terms of human resources, the Royal Plaza is mulling over to have a trained staff to man the casino initially by tying up with a company in Goa besides collaborating for technical support.
Then comes to marketing part where the stakeholder made it clear that the casino is targeted to high end tourists. "
For this, Mr. Subba is already prepared to fly to casino capitals of the world, Las Vegas and Macau. I will be traveling aboard soon to promote the casino located in the tourism State of Sikkim, he said. It will be tourism attraction of Sikkim, he added.
Apart from carving a niche for itself as a major tourism player, Sikkim stands to gain with an amount of Rs. 1.5 crores which will be paid by The Royal Plaza as taxes in the next 5 years.
( sOURCE: sIKKIM eXPRESS)
Official nod to Royal Plaza to begin casino
GANGTOK, November 12: Step aside Goa, make way for the new royal player from this Himalayan State who today was officially crowned as the first 'land based live' casino in the entire length and breadth of the nation.
In a momentous step towards promoting high end tourism, Sikkim government today authorized Teesta Rangit Private Ltd for installation and operation of casino games at the premises of its luxury hotel, The Royal Plaza here.
Apart from the natural appeal, this mountainous State will have the new attraction radiating from this 60 roomed hotel that has now become all set to roll out its roulette, card tables and slot machines and give its western neighbour Nepal and far flung competitors Goa a run for its money, literally.
The permission granted by the State government is a provisional license that enables the Royal Plaza to run casino till it fully classified as a five star hotel by the Ministry of Tourism.
Original license will be issued to Royal Plaza only after it fulfills the norms of a five star hotel within 5 years as per the guidelines of the Ministry of Tourism.
An elated Naresh Subba who is the director of Royal Plaza hotel said: "With the provisional license, I can start the casino now. This casino is the first land based live casino in India. We are all set and can begin anytime now".
In case you are ready with your money in this 'game of gamble' as Mr. Subba puts it, you have to hold your chips for at least this month.
"We are planning a soft launch of the casino. We are waiting for the Chief Minister Pawan Chamling to come from his trip and we propose to have him to formally inaugurate the casino", said Mr. Subba. He stressed on the steps taken by the Chief Minister to make Sikkim as a major tourism hub and expressed his gratitude for choosing The Royal Plaza for the casino.
The humble opening plans means that the hotel first wants to play its cards carefully till the final showdown when all the games are in place in an enlarged version.
Once the formal opening is done, 40 slot machines, blackjack, poker, baccarat tables and manually controlled roulette awaits those having a taste for financial adventure.
A tour of the prototype casino hall was given by the director to Sikkim Express today evening.
"This casino hall is just a prototype. We will be shifting it in a larger space on the lower level floor of the hotel", informed Mr. Subba.
Sikkim government had set the casino ball rolling when it notified the Sikkim Casino Games (Control and Taxes) Rules, 2007 thereby inviting interested parties for setting up casinos in the State.
Till this period, only Goa had allowed casinos that too electronically controlled.
The objective of the State government was to attract high end domestic and foreign tourists with the casino bid which had already created ripples in the hospitality sector both national and internationally.
Savoring the two page certification from the State government, the Royal Plaza director is thinking big both for the hotel and casino in terms of infrastructure and projection. The luxury hotel presently has 60 rooms.
"We will be pumping Rs. 70 crores in the next two years for the expansion of the hotel where the total rooms will reach to 126. We have invested Rs. 5 crores for the casino infrastructure and are planning to add another Rs. 50 crores to enhance the casino before it opens", said Mr. Subba.
Local employment will be enhanced with this expansion drive. There are now 150 employees in the hotel and with the casino coming up, there will be 300 new jobs opening up, said Mr. Subba.
In terms of human resources, the Royal Plaza is mulling over to have a trained staff to man the casino initially by tying up with a company in Goa besides collaborating for technical support.
Then comes to marketing part where the stakeholder made it clear that the casino is targeted to high end tourists. "
For this, Mr. Subba is already prepared to fly to casino capitals of the world, Las Vegas and Macau. I will be traveling aboard soon to promote the casino located in the tourism State of Sikkim, he said. It will be tourism attraction of Sikkim, he added.
Apart from carving a niche for itself as a major tourism player, Sikkim stands to gain with an amount of Rs. 1.5 crores which will be paid by The Royal Plaza as taxes in the next 5 years.
( sOURCE: sIKKIM eXPRESS)
BIO INFORMATICS IN NORTH EAST
Rs. 70 crores waiting to be utilized by bioinformatics centres of NE
GANGTOK, November 12: Presently Rs.70 crores are waiting to be utilized by the bioinformatics centre of the Northeast region in this current financial year, a senior functionary of the Department of Bioinformatics, Union Ministry of Science and Technology said today.
“The department is very keen to promote and support the 25 bioinformatics centre in Northeast and have earmarked a fund of Rs. 90 crores exclusively for this region”, said Dr. T Madan Mohan, Advisor of the Department of Bioinformatics during the opening session of the two day interactive meet for bioinformatics centre of Northeast here at the Chintan Bhavan here.
Representatives from Northeast centres and educational institutes are attending this meet organized by Sikkim State Council of Science and Technology.
“Out of the earmarked Rs.90 crores, we have utilized only Rs.20 crores in the initial stages. Rs. 70 crores still remains to be utilized and we are waiting for good proposals from the bioinformatics centres of Northeast for financial support”, said Dr. Mohan.
The institutions can apply for various programmes of the department like Centres of Excellence, Public Private partnership programmes, medical, agricultural, environmental, HRD and bioinformatics infrastructure development, he said.
The two day meet will deliberate on the status of the bioinformatics centres in Northeast and discus ideas for strengthening these centres.
“The purpose of this meeting is to review the activities and extend possible guidelines for future activities to these centres. They will be having the advantage of interacting with over 150 institutions which are spread across the nation through the network of BTISnet”, Dr. Mohan said.
Dr. Mohan also informed about the proposal to have all the North East bioinformatics centre under one umbrella and the network of this centre is named as North Eastern Bioinformatics Network which would be part of the major BTISnet of the department.
---------------------------------------------
GANGTOK, November 12: Presently Rs.70 crores are waiting to be utilized by the bioinformatics centre of the Northeast region in this current financial year, a senior functionary of the Department of Bioinformatics, Union Ministry of Science and Technology said today.
“The department is very keen to promote and support the 25 bioinformatics centre in Northeast and have earmarked a fund of Rs. 90 crores exclusively for this region”, said Dr. T Madan Mohan, Advisor of the Department of Bioinformatics during the opening session of the two day interactive meet for bioinformatics centre of Northeast here at the Chintan Bhavan here.
Representatives from Northeast centres and educational institutes are attending this meet organized by Sikkim State Council of Science and Technology.
“Out of the earmarked Rs.90 crores, we have utilized only Rs.20 crores in the initial stages. Rs. 70 crores still remains to be utilized and we are waiting for good proposals from the bioinformatics centres of Northeast for financial support”, said Dr. Mohan.
The institutions can apply for various programmes of the department like Centres of Excellence, Public Private partnership programmes, medical, agricultural, environmental, HRD and bioinformatics infrastructure development, he said.
The two day meet will deliberate on the status of the bioinformatics centres in Northeast and discus ideas for strengthening these centres.
“The purpose of this meeting is to review the activities and extend possible guidelines for future activities to these centres. They will be having the advantage of interacting with over 150 institutions which are spread across the nation through the network of BTISnet”, Dr. Mohan said.
Dr. Mohan also informed about the proposal to have all the North East bioinformatics centre under one umbrella and the network of this centre is named as North Eastern Bioinformatics Network which would be part of the major BTISnet of the department.
---------------------------------------------
NATHU LA TRADE THIS SEASON
Nathu La trade sluggish, Sikkim wants more items on trading list
September 24, 2008
Nathu La (Sikkim): Bilateral trade between Asian giants India and China through the Nathu La pass on the fabled Silk Route has remained sluggish this year and Sikkim is mounting pressure on New Delhi to expand the list of tradable items to boost business, officials said Wednesday.
"Since trade re-opened on May 19, the two countries did business worth just about Rs.2.6 million," Ujwal Gurung, Sikkim's director of industry and commerce, told IANS.
"There is a need to broaden the list of both importable and exportable items for boosting trade and hence we have urged New Delhi to include at least 15 more items," he added.
The two Asian giants in July 2006 reopened trade across the 15,000-feet (4,545-metre) Nathu La pass, 52 km east of Sikkim's capital Gangtok, as part of a broader rapprochement. The move marked the first direct trade link between the nuclear-armed neighbours since a bitter border war in 1962.
Under an agreement reached between the two countries, trade takes place four days a week - Monday to Thursday - beginning May each year and lasting until Nov 30, when snow closes down the pass.
The sluggish border trade between the two countries is due to restrictions in tradable items - India can import 15 items from China including silk, yak pelts and horses, and export 29 goods that include textiles, tea, rice, vegetables and herbs.
Bilateral trade in 2006 through Nathu La saw business worth about Rs.2 million with Indian traders doing business worth about Rs.1.1 million. Last year, the volume of trade was to the tune of Rs 2.6 million.
Although two-way trade was slow in the first two seasons, about 1,200 Chinese traders crossed the border separated by a rusty barbed wire marker to the bazaar of Sherathang, five km below the pass on the Indian side.
About 700 Indian traders headed to the Renqinggang interim market in Tibet on the Chinese side, 16 km from the border, during the first two seasons.
"There were some restrictions from the Chinese side this season due to the recently concluded Beijing Olympics and hence the volume of trade is not that high," Gurung said.
Businessmen from both sides of the border were also seeking a broadening of the list of items traded through the Nathu La pass.
"The list of tradable items should be increased and include commodities like locally made beer, medicines, jam, processed food products, floriculture and horticultural products so that business grows," said S.K. Sarda, president of the Sikkim Chamber of Commerce.
"The Chinese traders have been selling just yak pelts and sheep wool. It is imperative that the two countries decide to review the present export-import list," he added.
In 2003, Beijing gave up its territorial claim over the Indian state of Sikkim but is still holding on to its age old stand that a vast stretch of Arunachal Pradesh belongs to it.
China has never recognised the 1914 boundary, known as the McMahon Line, and claims 90,000 sq km (34,750 square miles) - nearly all of Arunachal Pradesh in India's northeast. India also accuses China of occupying 38,000 sq km (14,670 square miles) in Jammu and Kashmir.
SOURCE: IANS
September 24, 2008
Nathu La (Sikkim): Bilateral trade between Asian giants India and China through the Nathu La pass on the fabled Silk Route has remained sluggish this year and Sikkim is mounting pressure on New Delhi to expand the list of tradable items to boost business, officials said Wednesday.
"Since trade re-opened on May 19, the two countries did business worth just about Rs.2.6 million," Ujwal Gurung, Sikkim's director of industry and commerce, told IANS.
"There is a need to broaden the list of both importable and exportable items for boosting trade and hence we have urged New Delhi to include at least 15 more items," he added.
The two Asian giants in July 2006 reopened trade across the 15,000-feet (4,545-metre) Nathu La pass, 52 km east of Sikkim's capital Gangtok, as part of a broader rapprochement. The move marked the first direct trade link between the nuclear-armed neighbours since a bitter border war in 1962.
Under an agreement reached between the two countries, trade takes place four days a week - Monday to Thursday - beginning May each year and lasting until Nov 30, when snow closes down the pass.
The sluggish border trade between the two countries is due to restrictions in tradable items - India can import 15 items from China including silk, yak pelts and horses, and export 29 goods that include textiles, tea, rice, vegetables and herbs.
Bilateral trade in 2006 through Nathu La saw business worth about Rs.2 million with Indian traders doing business worth about Rs.1.1 million. Last year, the volume of trade was to the tune of Rs 2.6 million.
Although two-way trade was slow in the first two seasons, about 1,200 Chinese traders crossed the border separated by a rusty barbed wire marker to the bazaar of Sherathang, five km below the pass on the Indian side.
About 700 Indian traders headed to the Renqinggang interim market in Tibet on the Chinese side, 16 km from the border, during the first two seasons.
"There were some restrictions from the Chinese side this season due to the recently concluded Beijing Olympics and hence the volume of trade is not that high," Gurung said.
Businessmen from both sides of the border were also seeking a broadening of the list of items traded through the Nathu La pass.
"The list of tradable items should be increased and include commodities like locally made beer, medicines, jam, processed food products, floriculture and horticultural products so that business grows," said S.K. Sarda, president of the Sikkim Chamber of Commerce.
"The Chinese traders have been selling just yak pelts and sheep wool. It is imperative that the two countries decide to review the present export-import list," he added.
In 2003, Beijing gave up its territorial claim over the Indian state of Sikkim but is still holding on to its age old stand that a vast stretch of Arunachal Pradesh belongs to it.
China has never recognised the 1914 boundary, known as the McMahon Line, and claims 90,000 sq km (34,750 square miles) - nearly all of Arunachal Pradesh in India's northeast. India also accuses China of occupying 38,000 sq km (14,670 square miles) in Jammu and Kashmir.
SOURCE: IANS
SEMINAR ON NE BIOINFORMATICS IN GANGTOK
Two day meet on NE Bioinformatics Centre
Subedi calls for proper documentation of Sikkim’s traditional assets
GANGTOK, November 12: State science and technology minister SB Sudedi today urged the Union Ministry of Science and Technology to set up a Biotech Park in Sikkim for entrepreneurship development in biotechnology using public private partnership.
“The Dept of Biotechnology, GoI should also set up a Biotech Park in Sikkim as well as similar to one already set up in Lucknow for entrepreneurship development in biotechnology using public private partnership”, said the minister in his inaugural address of the two day interactive meet for bioinformatics centre of Northeast here at Chintan Bhavan.
Representatives from Northeast centres and educational institutes are attending this meet organized by Sikkim State Council of Science and Technology. DN Tarkapa, SLA Speaker were also present on the occasion.
Regarding the proposed Regional Research Centre for Sikkim by the Department of Bioinformatics, GoI, Mr. Subedi will help in development and dissemination of appropriate technologies of sustainable use of bio-resources for improvement of livelihood conditions of the local people.
“Sikkim being rich in bio-resources, people of Sikkim have higher degree of dependence of bio-resources and I hope that the proposed Regional Research Centre will help in development and dissemination of appropriate technologies of sustainable use of bio-resources for improvement of livelihood conditions of the local people. The thrust should be given for appropriate technology dissemination for improvement of yield and value addition of large cardamom, ginger, orange, medicinal plants, bamboo and other horticulture priority species through biotechnological interventions”, he said.
The minister also said that the proposed centre management should have representatives from all concerned departments of the State for effective coordination and technology dissemination in the field besides provisions for local employment and deputation posts from the State government. He added that the present
Bioinformatics Centre in Sikkim which is having the status of Distributed Information Sub-Centre should be further strengthened and should be developed as a full fledged Bio-informatics Centre for taking a leading role in the State as well as in the entire NER.
Mr. Subedi took the occasion to highlight the efforts of the State government towards environment protection and conservation of the State's rich biodiversity.
“We are very rich in traditional knowledge and native wisdom related to local health traditions using various medicinal plants by traditional faith healers. There should be proper documentation of this traditional knowledge in order to protect their intellectual property rights. The Dept of Biotechnology, GoI should also support our endeavor in this field”, he said.
In his welcome address, the State science and technology secretary ML Arrawatia informed that the scope and importance of bioinformatics was visualized very early by the Department of Biotechnology, GoI which has identified this sector as an area of high priority. “Keeping in view the richness of biodiversity of Sikkim, a Bioinformatics centre has also been set up under Sikkim State Council of Science and Technology under the Biodiversity theme with financial and technical support from the Department of Bioinformatics. This centre is functioning since 2001 and working for development of the data base on the various facets of Sikkim's Biodiversity”, he said.
Mr. Arrawatia informed that the centre has prepared database on scientists working on bio-resources and biodiversity of the State working in various organizations, database on 450 species of orchids, 36 species of Rhododendron and 200 species of medicinal plants has been prepared.
“Database on butterflies and birds of Sikkim is also being prepared. The centre has produced two volumes of compilation on the published papers, book chapters and popular articles on bio-resources of Sikkim”, Mr. Arrawatia.
The secretary said that in the future activities, the Sikkim centre will focus on collaborative works in the field of biotechnology and bioinformatics with other BTIsnet centres and other research institutes within and outside the State.
“We will also work on the preparation of database on traditional knowledge of folk/faith healers of Sikkim and database on diseases of horticultural crops”, Mr. Arrawatia said.
A website on the bioinformatics centre of Sikkim was also launched by Mr. Subedi. The website www.bioinformaticssikkim.com lists out the activities and objectives of the centre.
The minister also released an animation audio-visual CD prepared by the state bioinformatics centre that can be used as a learning tool by students to understand this discipline.
Source: Sikkim Express
Subedi calls for proper documentation of Sikkim’s traditional assets
GANGTOK, November 12: State science and technology minister SB Sudedi today urged the Union Ministry of Science and Technology to set up a Biotech Park in Sikkim for entrepreneurship development in biotechnology using public private partnership.
“The Dept of Biotechnology, GoI should also set up a Biotech Park in Sikkim as well as similar to one already set up in Lucknow for entrepreneurship development in biotechnology using public private partnership”, said the minister in his inaugural address of the two day interactive meet for bioinformatics centre of Northeast here at Chintan Bhavan.
Representatives from Northeast centres and educational institutes are attending this meet organized by Sikkim State Council of Science and Technology. DN Tarkapa, SLA Speaker were also present on the occasion.
Regarding the proposed Regional Research Centre for Sikkim by the Department of Bioinformatics, GoI, Mr. Subedi will help in development and dissemination of appropriate technologies of sustainable use of bio-resources for improvement of livelihood conditions of the local people.
“Sikkim being rich in bio-resources, people of Sikkim have higher degree of dependence of bio-resources and I hope that the proposed Regional Research Centre will help in development and dissemination of appropriate technologies of sustainable use of bio-resources for improvement of livelihood conditions of the local people. The thrust should be given for appropriate technology dissemination for improvement of yield and value addition of large cardamom, ginger, orange, medicinal plants, bamboo and other horticulture priority species through biotechnological interventions”, he said.
The minister also said that the proposed centre management should have representatives from all concerned departments of the State for effective coordination and technology dissemination in the field besides provisions for local employment and deputation posts from the State government. He added that the present
Bioinformatics Centre in Sikkim which is having the status of Distributed Information Sub-Centre should be further strengthened and should be developed as a full fledged Bio-informatics Centre for taking a leading role in the State as well as in the entire NER.
Mr. Subedi took the occasion to highlight the efforts of the State government towards environment protection and conservation of the State's rich biodiversity.
“We are very rich in traditional knowledge and native wisdom related to local health traditions using various medicinal plants by traditional faith healers. There should be proper documentation of this traditional knowledge in order to protect their intellectual property rights. The Dept of Biotechnology, GoI should also support our endeavor in this field”, he said.
In his welcome address, the State science and technology secretary ML Arrawatia informed that the scope and importance of bioinformatics was visualized very early by the Department of Biotechnology, GoI which has identified this sector as an area of high priority. “Keeping in view the richness of biodiversity of Sikkim, a Bioinformatics centre has also been set up under Sikkim State Council of Science and Technology under the Biodiversity theme with financial and technical support from the Department of Bioinformatics. This centre is functioning since 2001 and working for development of the data base on the various facets of Sikkim's Biodiversity”, he said.
Mr. Arrawatia informed that the centre has prepared database on scientists working on bio-resources and biodiversity of the State working in various organizations, database on 450 species of orchids, 36 species of Rhododendron and 200 species of medicinal plants has been prepared.
“Database on butterflies and birds of Sikkim is also being prepared. The centre has produced two volumes of compilation on the published papers, book chapters and popular articles on bio-resources of Sikkim”, Mr. Arrawatia.
The secretary said that in the future activities, the Sikkim centre will focus on collaborative works in the field of biotechnology and bioinformatics with other BTIsnet centres and other research institutes within and outside the State.
“We will also work on the preparation of database on traditional knowledge of folk/faith healers of Sikkim and database on diseases of horticultural crops”, Mr. Arrawatia said.
A website on the bioinformatics centre of Sikkim was also launched by Mr. Subedi. The website www.bioinformaticssikkim.com lists out the activities and objectives of the centre.
The minister also released an animation audio-visual CD prepared by the state bioinformatics centre that can be used as a learning tool by students to understand this discipline.
Source: Sikkim Express
BIO TECH IN SIKKIM
Centre to set up reg research centre for bio-tech in Sikkim
Gangtok, Nov 12: The Centre has decided to set up a regional research centre in Sikkim under the Institute of Bio-resources and Sustainable Development for utilization of bio technology in improving productivity of the state's natural resources, Sikkim Science and Technology minister S B Subedi said on Wednesday.
Participating in the first interactive meet of bio-informatics centres of north eastern states here, he said that the proposed Regional Research Centre should act as catalyst for capacity building and developing entrepreneurship skills of the farmers and unemployed youths so that they should be able to set up small and medium scale units by using bio-technology for making a living out of the natural resources.
Subedi also laid thrust on the development of suitable and effective bio-fertilizers and bio-pesticides by using rich biological resources for encouraging organic farming as has been done in Sikkim.
He said that the centre should focus on dissemination of appropriate technology for improvement of yield and value-addition to various cash crops like cardamom, ginger, orange, medicinal plants and bamboos.
The Minister urged the Centre to set up a Bio-Technology Park in Sikkim too to encourage the local entrepreneurs.
In order to highlight the distinct produces in Sikkim, he asked the officials of his department to make detailed proposal and pursue the matter for registration Temi tea, Sikkim Mandarin orange, Lachung Beans, Dalley Khorshani, Dzongu Lepcha Hat, large cardamom, Naakeema, and Sikkim Choksey under the registration and protection of geographical indication.
Besides, there should be proper documentation of local health traditions using medicinal plants by traditional faith healers in order to protect their valuable intellectual property rights, Subedi said.
Making a key note address, the Advisor to the Union Bio-Technology department T Madan Mohan said that the Centre has set up 21 Bio-Informatics Centre and Four Sub-centres in the North-East Region for promotion of bio-technology to the benefit of the local people.
A fund of Rs 90 crore has been allocated to the north-eastern bio-technology centres for promotion of Bio-Technology Studies,he said.
Additional bio-technology centres could be set up if there was need for them as the Centre has not not put any ceiling on opening of bio-informatics centres, Madan Mohan said.
Source: Bureau Report Zee News
Gangtok, Nov 12: The Centre has decided to set up a regional research centre in Sikkim under the Institute of Bio-resources and Sustainable Development for utilization of bio technology in improving productivity of the state's natural resources, Sikkim Science and Technology minister S B Subedi said on Wednesday.
Participating in the first interactive meet of bio-informatics centres of north eastern states here, he said that the proposed Regional Research Centre should act as catalyst for capacity building and developing entrepreneurship skills of the farmers and unemployed youths so that they should be able to set up small and medium scale units by using bio-technology for making a living out of the natural resources.
Subedi also laid thrust on the development of suitable and effective bio-fertilizers and bio-pesticides by using rich biological resources for encouraging organic farming as has been done in Sikkim.
He said that the centre should focus on dissemination of appropriate technology for improvement of yield and value-addition to various cash crops like cardamom, ginger, orange, medicinal plants and bamboos.
The Minister urged the Centre to set up a Bio-Technology Park in Sikkim too to encourage the local entrepreneurs.
In order to highlight the distinct produces in Sikkim, he asked the officials of his department to make detailed proposal and pursue the matter for registration Temi tea, Sikkim Mandarin orange, Lachung Beans, Dalley Khorshani, Dzongu Lepcha Hat, large cardamom, Naakeema, and Sikkim Choksey under the registration and protection of geographical indication.
Besides, there should be proper documentation of local health traditions using medicinal plants by traditional faith healers in order to protect their valuable intellectual property rights, Subedi said.
Making a key note address, the Advisor to the Union Bio-Technology department T Madan Mohan said that the Centre has set up 21 Bio-Informatics Centre and Four Sub-centres in the North-East Region for promotion of bio-technology to the benefit of the local people.
A fund of Rs 90 crore has been allocated to the north-eastern bio-technology centres for promotion of Bio-Technology Studies,he said.
Additional bio-technology centres could be set up if there was need for them as the Centre has not not put any ceiling on opening of bio-informatics centres, Madan Mohan said.
Source: Bureau Report Zee News
Wednesday, November 12, 2008
Sikkim CM meets 13th Finance Commission at Gangtok
GANGTOK: Sikkim Chief Minister Pawan Kumar Chamling has asked the 13th finance commission to raise state's grants for development and welfare schemes by taking into consideration the rise in population as per the 2001 census.
Participating in an interactive meeting with visiting members of the finance panel headed by Chairman Vijay L Kelkar on Monday, Chamling urged Sikkim's population as per 2001 census be taken into account for allocation of the central funds to the Himalayan state for implementation of the development and welfare measures.
The commission should also consider granting compensation under special category states in view of Sikkim's very own problems, cost liabilities and low economic base, the chief minister said.
On centrally sponsored schemes (CSSs), he said rigidity in the design and release of funds as well as monitoring process resulted in enormous delays in project implementation and requested the commission for transfer of all schemes to the states with commensurate funds particularly those related to state subjects.
The chief minister sought increase in the share of Sikkim in the central taxes to 40-50 per cent, against the present 30.5 per cent.
Chamling made a veiled criticism of the 12th finance commission by saying that it had reduced the grants for his state by "over-estimating the revenues and under-estimating the expenditure".
Sikkim's Gross Domestic State Product (GDSP) increased over the years since his government came to power in 1994 and the state made rapid strides in development of tourism sector and implementation of the Panchayati Raj system, he said.
The state government has also been taking steps for raising its own revenue for meeting financial needs, he added.
The Additional Chief Secretary (Finance) made a presentation before the commission members, where he demanded a fund of Rs 1,727.29 crore to meet expenditure for administrative requirements, keeping in mind the specific needs of Sikkim.
This will be in addition to appropriate grants for police administration, staff training for better expenditure management, the official said.
In his keynote remarks, Kelkar lauded the state government for preparing a comprehensive memorandum that covered the review of various sectors, the steps taken to improve the quality of public expenditure and the issues placed for the consideration of the commission.
He also expressed satisfaction with the performance of the state on growth and development fronts, especially on literacy and infant mortality rates where performance of the Sikkim is better than the national average.
Kelkar congratulated the state for successfully introducing VAT in 2005, which resulted in doubling of tax collection under VAT-table items since then.
(SOURCE:PTI)
Participating in an interactive meeting with visiting members of the finance panel headed by Chairman Vijay L Kelkar on Monday, Chamling urged Sikkim's population as per 2001 census be taken into account for allocation of the central funds to the Himalayan state for implementation of the development and welfare measures.
The commission should also consider granting compensation under special category states in view of Sikkim's very own problems, cost liabilities and low economic base, the chief minister said.
On centrally sponsored schemes (CSSs), he said rigidity in the design and release of funds as well as monitoring process resulted in enormous delays in project implementation and requested the commission for transfer of all schemes to the states with commensurate funds particularly those related to state subjects.
The chief minister sought increase in the share of Sikkim in the central taxes to 40-50 per cent, against the present 30.5 per cent.
Chamling made a veiled criticism of the 12th finance commission by saying that it had reduced the grants for his state by "over-estimating the revenues and under-estimating the expenditure".
Sikkim's Gross Domestic State Product (GDSP) increased over the years since his government came to power in 1994 and the state made rapid strides in development of tourism sector and implementation of the Panchayati Raj system, he said.
The state government has also been taking steps for raising its own revenue for meeting financial needs, he added.
The Additional Chief Secretary (Finance) made a presentation before the commission members, where he demanded a fund of Rs 1,727.29 crore to meet expenditure for administrative requirements, keeping in mind the specific needs of Sikkim.
This will be in addition to appropriate grants for police administration, staff training for better expenditure management, the official said.
In his keynote remarks, Kelkar lauded the state government for preparing a comprehensive memorandum that covered the review of various sectors, the steps taken to improve the quality of public expenditure and the issues placed for the consideration of the commission.
He also expressed satisfaction with the performance of the state on growth and development fronts, especially on literacy and infant mortality rates where performance of the Sikkim is better than the national average.
Kelkar congratulated the state for successfully introducing VAT in 2005, which resulted in doubling of tax collection under VAT-table items since then.
(SOURCE:PTI)
SCC MEETS FINANCE COMMISSION AT GANGTOK
Sikkim Chamber of Commerce (SCC) demands introduction of 18-seater chopper services
Gangtok, Nov 10 : The Sikkim Chamber of Commerce (SCC) today impressed upon the 13th Finance Commission for immediate introduction of a subsidised 18-seater helicopter service for the state, as the Pakyong airport and Rangpo rail link are likely to take another 4 to 7 years to complete.
Expressing gratitude to the Centre for the recent Cabinet approval of the Pakyong airstrip and Rangpo rail link, SCC in its memorandum said, '' Since this process of creating infrastructure is likely to take 4 to 7 years, introduction of a subsidised 18-seater helicopter service is solicited at the earliest.'' SCC president S K Sarda had presented the memorandum to the 13th Finance Commission Chairman Vijay Kelkar during a meeting today here at Chintan Bhavan.
In its elaborate representation, the body submitted before the commission the need to have an alternative highway connecting Nathu La to Siliguri in view of the landslide prone topography of Sikkim that can be used in peace times for trade and transit and during war times to protect the nation.
The SCC also requested the commission for a uniform treatment to the ‘left out Sikkimese’ regarding the Income Tax exemption and urged the Centre to pay attention for the development of Sikkim.
'' Health tourism is an area where we should give more focus.
These days health tourism has become a great earner. Since Sikkim has a very healthy climate, it is suggested that the Centre earmark a fund on how and in what way an attractive package can be developed to attract patients for health rejuvenation. Investments on physical assets development could be thought of once the study is complete,'' the SCC said.
In view of the rich forest wealth the State is blessed with, SCC appealed the Commission to recommend ‘exploration of medicinal herbs on a commercial basis’ which could be monitored and regulated by an appropriate authority.
SCC further pointed out that Sikkim can be developed into a model centre to house IT Parks and BPO centres which would provide more employment and revenue to the state.
--- UNI
Gangtok, Nov 10 : The Sikkim Chamber of Commerce (SCC) today impressed upon the 13th Finance Commission for immediate introduction of a subsidised 18-seater helicopter service for the state, as the Pakyong airport and Rangpo rail link are likely to take another 4 to 7 years to complete.
Expressing gratitude to the Centre for the recent Cabinet approval of the Pakyong airstrip and Rangpo rail link, SCC in its memorandum said, '' Since this process of creating infrastructure is likely to take 4 to 7 years, introduction of a subsidised 18-seater helicopter service is solicited at the earliest.'' SCC president S K Sarda had presented the memorandum to the 13th Finance Commission Chairman Vijay Kelkar during a meeting today here at Chintan Bhavan.
In its elaborate representation, the body submitted before the commission the need to have an alternative highway connecting Nathu La to Siliguri in view of the landslide prone topography of Sikkim that can be used in peace times for trade and transit and during war times to protect the nation.
The SCC also requested the commission for a uniform treatment to the ‘left out Sikkimese’ regarding the Income Tax exemption and urged the Centre to pay attention for the development of Sikkim.
'' Health tourism is an area where we should give more focus.
These days health tourism has become a great earner. Since Sikkim has a very healthy climate, it is suggested that the Centre earmark a fund on how and in what way an attractive package can be developed to attract patients for health rejuvenation. Investments on physical assets development could be thought of once the study is complete,'' the SCC said.
In view of the rich forest wealth the State is blessed with, SCC appealed the Commission to recommend ‘exploration of medicinal herbs on a commercial basis’ which could be monitored and regulated by an appropriate authority.
SCC further pointed out that Sikkim can be developed into a model centre to house IT Parks and BPO centres which would provide more employment and revenue to the state.
--- UNI
Tuesday, November 11, 2008
CHAMBER MEETS 13TH FINANCE COMMISSION AT GANGTOK
SIKKIM CHAMBER OF COMMERCE
M.G.ROAD, GANGTOK,SIKKIM 737101
The Chairman
13th Finance Commission
Government of India
Camp: Gangtok
Sikkim
Hon’ble Sir,
Sikkim Chamber of Commerce greets Dr Vijay L. Kelkar, Chairman, Shri B K Chaturvedi, Dr Indira Rajaraman, Dr Sanjeev Mishra, Prof Atul Sarma and Shri Sumit Bose- members of 13th Finance Commission and wish a comfortable stay in Sikkim . We sincerely hope that your visit will bring more prosperity to Sikkim, help further the process of integration and expedite progress of its inhabitants.
Sikkim Chamber of Commerce is the only trade organization which has its roots in the former Kingdom of Sikkim. We have seen the rule of Chogyal (King) who has always been kind to his people and the traders in particular whom he always regarded as pillars of economy and most instrumental in bringing development.
The merger of Sikkim with India has opened flood gates to development and prosperity. The successive governments have done their best to bring more happiness on the face of people. The current government headed by Dr Pawan Chamling is leading the State since 14 years and has made a major impact on the economy providing foundation to modern Sikkim, successfully placing the State to a position of envy and delight for all.
Dr Pawan Chamling, Honorable Chief Minister the visionary personality has brought many new ideas of governance in Sikkim. The empowerment of the Panchayats and Right to Information have both helped in creating an environment where every rupee is thoughtfully spent for the people.
Sikkim, the tiny Himalayan State is a paradise on earth where nature has been the kindest possible, bestowing its people with topography ranging from 300 feet to to 28000 feet and as a result of which varieties of climates from Polar to Sub tropical, flora and fauna , people and their cultures exist here in the most harmonious manner under the blessings of our guardian deity Mt Kanchenjunga. Sikkim the model State with more than 11 languages and 5 climatic zones and multiple cultures thus offers an UNIQUE PLACE for research for the cause of mankind.
Placing due recognition to the strategic location of the State, it is imperative that the Union Government does all that is possible to maintain peace and tranquility in the region by uplifting the standard of living, making the people more knowledgeable, competitive and accessible to different modes of modernization that are urgently required for overall development of the State and its people
Though principally an agricultural State, the region is fast attaining the position of a favoured tourism destination and the youths are inclined towards making it best by exploring newer vistas, determined in making tourism as an alternate source of constructive employment . It is desired that the Commission takes due cognizance of this necessity of the people and recommend continuous and larger resources for creation of additional facilities like development of adventure parks, ropeway from Gangtok to Nathula and new assets in village tourism.
We are grateful to Government of India for having appreciated the need for better, smooth and reliable transportation system in this difficult area and for being kind enough to flag off work in construction of Airport at Pakyong and Rail link from Sevok to Rangpo.
In this context may we submit here that since the area is landslide prone and often subjected to blockades due to various reasons including vagaries of nature, an alternate double lane highway , is most immediately required connecting Nathula to Siliguri which can be used in peace time for trade and transit and during war times to protect the nation, such that the process of development, trade, commerce and industry goes ahead uninterrupted.
And since this process of creating infrastructure is likely to take 4 to 7 years, introduction of a subsidized 18 seater helicopter service is solicited at the earliest.
This Chamber is grateful to the Government of India for having announced setting up of Industrial Training Institutes at all district headquarters in Sikkim. On the trade, commerce and industrial front it is desired:
• Home entrepreneurs should be encouraged for setting up industries by providing them additional benefits.
• Since the upcoming Hydel Power Projects shall be generating huge power energy to the tune of 5500 MWs by the next 10 years and 12% free power to be given by them to the State shall be in excess of domestic requirements, home entrepreneurs could be considered for highly subsidised power supply as in the case of Meghalaya.
• Reduction of excise duty exemption benefits as earlier available vide Policy on Industries in North East has started producing negative results and this is viewed as detrimental to the growth of industries/employment in Sikkim. It is prayed that 100% excise duty exemption be continued as announced in the Industrial Policy 2007.
• In view of the coming National Goods and Services tax regime which shall ultimately ensure uniformity of prices nationwide in the interest of consumer, this Chamber requests that all the allied taxes like Toll Tax and Environment Cess etc be abolished and help smooth running of trade, commerce & industry.
• In view of rich forest wealth the State is blessed with, the Commission be kind enough to recommend allowing exploration of medicinal herbs on a commercial basis which could be monitored and regulated by an appropriate authority.
• With due respect to the high quality of talent, environment friendly atmosphere, fast connectivity, and easy adaptability of people, it is felt that the State could be developed into a model centre to house I T Parks, Call Centres, BPO Centres etc which would definitely be more economical here and shall provide employment and revenue to the State.
• It is seen that there is a continuous movement of youth from villages to towns to find employment which has resulted in burdening the already constrained resources of the towns and weakened the rural base making development lopsided. We are of the considered view that there is a need to encourage development of the State as a totally Urban State and the Commission be kind enough to liberally fund the state on this account.
• Various incentives like Income tax and Excise duty exemptions and a lot of subsidies has attracted a number of giant Pharma Units whose total investment in a few years will be more than 5000 crores. Besides providing employment, it has raised the land prices to the benefit of local owners and changed the mind framework of the local community towards enterprises. A number of industrial subsidiaries sponsored by Sikkim residents are on the pipeline. It is suggested that the Union Government should come out to fund “creation of Industrial land pool” for inviting more investments for the development of the State.
• Education has been the prime target to make people more knowledgeable and a free education with free text book and meals, has been a big attraction to lure children to schools. 82% of the population is now educated. Besides, Sikkim University is working hard for providing on a perennial basis streams of knowledge for people of Sikkim and nearby areas. The people of Sikkim shall ever remain grateful if the Commission is kind enough to recommend setting up of a Regional Engineering College in the State.
• Sir, We are not far behind in Sports. Our ace footballer Bhaichung Bhutia is bringing national laurels. The Government is creating infrastructure for sports developments and in several sports Sikkim is showing its presence in National Games. More investment in this field is called for like setting up of specific game oriented and floodlit stadia that would qualify us for holding International events. The people of Sikkim shall be honoured if your goodselves would recommend setting up of a full fledged operational Sports Authority of India Facility/Complex in the State to enable the region produce quality sportsmen to compete both at National and International games.
Health Tourism is an area where we can put more think tank. These days Health tourism has become a great forex earner. Since Sikkim has a very healthy climate, it is suggested that Government of India can enmark a fund to make a Study on how and In what way an attractive package can be developed to attract patients for health rejunuvation in Sikkim. Investments on physical assets development could be thought of once the study is completed.
After the visit of our Honourable Chief Minister to Europe and US, he visualized making Towns of Sikkim cleaner, more attractive and more tourists friendly. Works has been undertaken to give a facelift to M G Road, the heart of Gangtok and we all have found a change for the better. Similar beautification projects are being taken by the Government. We urge Commission to recommend special funds on a 100% grant for the beautification of the towns of Sikkim.
-5-
Sikkim today exhibits an excellent example of brotherhood and friendship between all its inhabitants, the Lepchas, The Bhutias, the Nepalis and the Plainsmen who have made Sikkim their home for good.
Sir, we are grateful to Government of India for giving exemption from Direct taxes to Sikkim Subject Holders and we request that all the “LEFT OUT SIKKIMESE” living here since the days of the monarchy are also dealt with in uniform manner with due respect to their sentiments and sense of belonging with this soil
Under the dynamic leadership of Dr Pawan Chamling Sikkim has great future and things are on the positive notes all over Sikkim. Sikkim is projected to fast change into a modern, well networked City State as our Chief Minster often mentions.
We have the highest regard for this Commission and we hope that you will understand the special situation of Sikkim, its strategic location, its difficult terrain and remoteness, its warm people and its natural wealth and recommend more resources for development of this land of Kanchenjunga.
May Guru Padmasambhava’s blessings ever remain on all of us.
With highest regards,
Yours truly,
S.K.Sarda
President
Sikkim Chamber of Commerce
GANGTOK: 10TH NOV.2008.
M.G.ROAD, GANGTOK,SIKKIM 737101
The Chairman
13th Finance Commission
Government of India
Camp: Gangtok
Sikkim
Hon’ble Sir,
Sikkim Chamber of Commerce greets Dr Vijay L. Kelkar, Chairman, Shri B K Chaturvedi, Dr Indira Rajaraman, Dr Sanjeev Mishra, Prof Atul Sarma and Shri Sumit Bose- members of 13th Finance Commission and wish a comfortable stay in Sikkim . We sincerely hope that your visit will bring more prosperity to Sikkim, help further the process of integration and expedite progress of its inhabitants.
Sikkim Chamber of Commerce is the only trade organization which has its roots in the former Kingdom of Sikkim. We have seen the rule of Chogyal (King) who has always been kind to his people and the traders in particular whom he always regarded as pillars of economy and most instrumental in bringing development.
The merger of Sikkim with India has opened flood gates to development and prosperity. The successive governments have done their best to bring more happiness on the face of people. The current government headed by Dr Pawan Chamling is leading the State since 14 years and has made a major impact on the economy providing foundation to modern Sikkim, successfully placing the State to a position of envy and delight for all.
Dr Pawan Chamling, Honorable Chief Minister the visionary personality has brought many new ideas of governance in Sikkim. The empowerment of the Panchayats and Right to Information have both helped in creating an environment where every rupee is thoughtfully spent for the people.
Sikkim, the tiny Himalayan State is a paradise on earth where nature has been the kindest possible, bestowing its people with topography ranging from 300 feet to to 28000 feet and as a result of which varieties of climates from Polar to Sub tropical, flora and fauna , people and their cultures exist here in the most harmonious manner under the blessings of our guardian deity Mt Kanchenjunga. Sikkim the model State with more than 11 languages and 5 climatic zones and multiple cultures thus offers an UNIQUE PLACE for research for the cause of mankind.
Placing due recognition to the strategic location of the State, it is imperative that the Union Government does all that is possible to maintain peace and tranquility in the region by uplifting the standard of living, making the people more knowledgeable, competitive and accessible to different modes of modernization that are urgently required for overall development of the State and its people
Though principally an agricultural State, the region is fast attaining the position of a favoured tourism destination and the youths are inclined towards making it best by exploring newer vistas, determined in making tourism as an alternate source of constructive employment . It is desired that the Commission takes due cognizance of this necessity of the people and recommend continuous and larger resources for creation of additional facilities like development of adventure parks, ropeway from Gangtok to Nathula and new assets in village tourism.
We are grateful to Government of India for having appreciated the need for better, smooth and reliable transportation system in this difficult area and for being kind enough to flag off work in construction of Airport at Pakyong and Rail link from Sevok to Rangpo.
In this context may we submit here that since the area is landslide prone and often subjected to blockades due to various reasons including vagaries of nature, an alternate double lane highway , is most immediately required connecting Nathula to Siliguri which can be used in peace time for trade and transit and during war times to protect the nation, such that the process of development, trade, commerce and industry goes ahead uninterrupted.
And since this process of creating infrastructure is likely to take 4 to 7 years, introduction of a subsidized 18 seater helicopter service is solicited at the earliest.
This Chamber is grateful to the Government of India for having announced setting up of Industrial Training Institutes at all district headquarters in Sikkim. On the trade, commerce and industrial front it is desired:
• Home entrepreneurs should be encouraged for setting up industries by providing them additional benefits.
• Since the upcoming Hydel Power Projects shall be generating huge power energy to the tune of 5500 MWs by the next 10 years and 12% free power to be given by them to the State shall be in excess of domestic requirements, home entrepreneurs could be considered for highly subsidised power supply as in the case of Meghalaya.
• Reduction of excise duty exemption benefits as earlier available vide Policy on Industries in North East has started producing negative results and this is viewed as detrimental to the growth of industries/employment in Sikkim. It is prayed that 100% excise duty exemption be continued as announced in the Industrial Policy 2007.
• In view of the coming National Goods and Services tax regime which shall ultimately ensure uniformity of prices nationwide in the interest of consumer, this Chamber requests that all the allied taxes like Toll Tax and Environment Cess etc be abolished and help smooth running of trade, commerce & industry.
• In view of rich forest wealth the State is blessed with, the Commission be kind enough to recommend allowing exploration of medicinal herbs on a commercial basis which could be monitored and regulated by an appropriate authority.
• With due respect to the high quality of talent, environment friendly atmosphere, fast connectivity, and easy adaptability of people, it is felt that the State could be developed into a model centre to house I T Parks, Call Centres, BPO Centres etc which would definitely be more economical here and shall provide employment and revenue to the State.
• It is seen that there is a continuous movement of youth from villages to towns to find employment which has resulted in burdening the already constrained resources of the towns and weakened the rural base making development lopsided. We are of the considered view that there is a need to encourage development of the State as a totally Urban State and the Commission be kind enough to liberally fund the state on this account.
• Various incentives like Income tax and Excise duty exemptions and a lot of subsidies has attracted a number of giant Pharma Units whose total investment in a few years will be more than 5000 crores. Besides providing employment, it has raised the land prices to the benefit of local owners and changed the mind framework of the local community towards enterprises. A number of industrial subsidiaries sponsored by Sikkim residents are on the pipeline. It is suggested that the Union Government should come out to fund “creation of Industrial land pool” for inviting more investments for the development of the State.
• Education has been the prime target to make people more knowledgeable and a free education with free text book and meals, has been a big attraction to lure children to schools. 82% of the population is now educated. Besides, Sikkim University is working hard for providing on a perennial basis streams of knowledge for people of Sikkim and nearby areas. The people of Sikkim shall ever remain grateful if the Commission is kind enough to recommend setting up of a Regional Engineering College in the State.
• Sir, We are not far behind in Sports. Our ace footballer Bhaichung Bhutia is bringing national laurels. The Government is creating infrastructure for sports developments and in several sports Sikkim is showing its presence in National Games. More investment in this field is called for like setting up of specific game oriented and floodlit stadia that would qualify us for holding International events. The people of Sikkim shall be honoured if your goodselves would recommend setting up of a full fledged operational Sports Authority of India Facility/Complex in the State to enable the region produce quality sportsmen to compete both at National and International games.
Health Tourism is an area where we can put more think tank. These days Health tourism has become a great forex earner. Since Sikkim has a very healthy climate, it is suggested that Government of India can enmark a fund to make a Study on how and In what way an attractive package can be developed to attract patients for health rejunuvation in Sikkim. Investments on physical assets development could be thought of once the study is completed.
After the visit of our Honourable Chief Minister to Europe and US, he visualized making Towns of Sikkim cleaner, more attractive and more tourists friendly. Works has been undertaken to give a facelift to M G Road, the heart of Gangtok and we all have found a change for the better. Similar beautification projects are being taken by the Government. We urge Commission to recommend special funds on a 100% grant for the beautification of the towns of Sikkim.
-5-
Sikkim today exhibits an excellent example of brotherhood and friendship between all its inhabitants, the Lepchas, The Bhutias, the Nepalis and the Plainsmen who have made Sikkim their home for good.
Sir, we are grateful to Government of India for giving exemption from Direct taxes to Sikkim Subject Holders and we request that all the “LEFT OUT SIKKIMESE” living here since the days of the monarchy are also dealt with in uniform manner with due respect to their sentiments and sense of belonging with this soil
Under the dynamic leadership of Dr Pawan Chamling Sikkim has great future and things are on the positive notes all over Sikkim. Sikkim is projected to fast change into a modern, well networked City State as our Chief Minster often mentions.
We have the highest regard for this Commission and we hope that you will understand the special situation of Sikkim, its strategic location, its difficult terrain and remoteness, its warm people and its natural wealth and recommend more resources for development of this land of Kanchenjunga.
May Guru Padmasambhava’s blessings ever remain on all of us.
With highest regards,
Yours truly,
S.K.Sarda
President
Sikkim Chamber of Commerce
GANGTOK: 10TH NOV.2008.
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