Why there is always a clash between farmers and industries? Which is the priority ? Industry , which plans to creates many jobs or food security to wipe out hunger?
This article discusses the array of issues.
Saturday, September 18, 2010
Amendments to the Forward Contracts (Regulation) Act 1952
The Union Cabinet today approved amendments to the Forward Contracts (Regulation) Act 1952 by introducing the Forward Contracts (Regulation) Amendment Bill, 2010 in the Parliament.
Background
The FC(R) Act provides for the regulation of commodity futures markets in India and the establishment of the Forward Markets Commission (FMC). While the markets have been liberalized with effect from April, 2003 and modern institutional structures are in the process of being evolved, yet the market regulator, FMC is largely functioning in its traditional format.
The FC(R) Act provides for the regulation of commodity futures markets in India and the establishment of the Forward Markets Commission (FMC). While the markets have been liberalized with effect from April, 2003 and modern institutional structures are in the process of being evolved, yet the market regulator, FMC is largely functioning in its traditional format.
After the Bill is passed and enacted by the Parliament, Forward Markets Commission (FMC) as a regulator will get autonomy and power to regulate the market effectively. New Products like ‘options’ will be allowed in the commodity market. This will benefit various stakeholders including the farmers to take benefit of ‘price discovery’ and ‘price risk management’.
The amendments proposed in the Forward Contract (Regulation) Act 1952 (FC(R) Act} are:
(a) up-dation of existing definitions and insertion of some new definitions; (b) changes in provisions relating to composition and functioning of FMC; (c) enhancement of the powers of FMC;
(d) corporatisation and demutualisation of the existing Commodities Exchanges and setting up of a separate Clearing Corporation;
(e) registration of Intermediaries;
(f) enhancement of penal provisions in the FC(R) Act;
(g) permitting trading in options in goods or options in commodity derivatives; and
(h) making provision for designating the Securities Appellate Tribunal (SAT) as the Appellate Tribunal for purposes of FC(R ) Act also including that of levying fee.
The Bill also provides for some other provisions such as exempting FMC form payment of tax on wealth; income and profits or gains; conferring powers upon the Central Government; issue of directions to FMC on matters of policy and power to supersede FMC.
Rajasthan to Get 4 New Highways Projects
The projects are: four laning of Beawar – Pali - Pindwara stretch on NH-14, Reengus – Sikar stretch on NH-11, and 6-laning of Kishangarh – Udaipur – Ahmadabad stretch of NH-79, NH-79A, and NH-76 & NH-8. Paved shoulders work with 2-lane will be taken up in Darra – Jhalawar – Teen – Dhar stretch of NH-12.
SICOM Project
The Minister of State for Environment and Forests, Shri Jairam Ramesh said the major national initiative to protect our coastal ecosystems will start from states of Orissa, Gujarat and West Bengal. Inaugurating the office of the Society of Integrated Coastal Management (SICOM) here today , the Minister said this is for the first time that a professional body with experts in various aspects of coastal science and management.
The Integrated Coastal Zone Management Project consists of four components.
Under the first component, mapping, delineation and demarcation of hazard lines will be taken up by the Survey of India. Besides this, mapping, delineation and demarcation of environmentally sensitive areas, capacity building of the Ministry of Environment and Forests and the State Coastal Zone Management Authorities, and a nation-wide training programme will be taken up. A National Centre for Sustainable Coastal Management (NCSCM) will also be opened in Anna University, Chennai.
Under the second component, pilot studies will be undertaken on the ICZM approach for the coastline of Gulf of Kuchchh. Further, transplantation of corals in the Gulf of Kuchchh and sewage treatment facilities for Jamnagar district would be undertaken. Under the project, a Green Action for National Dandi Heritage Initiative (G.A.N.D.H.I.) will also be developed. The Rs 25 Crore project will focus on overall development and conservation of the environment of Dandi and the surrounding villages based on Gandhian Principles. Among other things, 100 ha of mangroves and 50 ha of bio-shield will be planted along the 8 km coastline of Dandi. The budget for Gujarat is Rs 298.34 crores.
The third component which includes Orissa has budget of Rs 300 crores. This will include capacity building of the state level agencies and institutions, preparation of an ICZM plan for the coastal sediment cells in the stretches of Paradip-Dhamra and Gopalpur-Chilika; regional coastal process study, and priority investments. It will also support capacity building in the area of coastal management and wetland research.
The fourth component will mainly address the coastal zone management issues in three sectors in West Bengal, namely, Sunderbans, Haldia and Digha-Shankarpur.The budget for West Bengal is Rs 300 crores.
Classification of Earthquakes
Factsheet
Based on magnitude, earthquakes may be classified as microearthquakes, slight-, moderate-, great- and very great as detailed below:
Magnitude
Microearthquake -less than 3.0
Slight - 3.2-4.9
Moderate -5.0-6.9
Great -7.0-8.0
Very great - Greater than 8.0
Depending upon the epicentral distance of the earthquake, they may also be classified as local shock, near shock, distant shock and teleseismic shock as detailed below:
Epicentral Distance in degress
Local shock Less than 4.0
Near shock Between 4.0 and 10.0
Distant shock Between 10.0 and 20.0
Teleseismic shock Greater than 20.0.
For the Earth as a whole, the frequency of occurrence of earthquakes in different magnitude is given below:
Magnitude (Ms) Average number of earthquakes/year
8.0 2
7.0 20
6.0 100
5.0 3,000
4.0 15,000
3.0 >100,000
A list of damaging earthquakes in India during the last about ten years:
· Uttarkashi earthquake of October 20,1991 (M:6.6).
· Latur earthquake of September 30,1993 (M:6.3).
· Jabalpur earthquake of may 22,1997 (M:6.0).
· Chamoli earthquake of March 29,1999 (M:6.8).
· Bhuj earthquake of January 26,2001 (M:6.9).
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