si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times ‘oranda carefully. castrwrovwan ctoseo | auevowdéy aig o> cans@lenMed... weddgine. MARKET STATS * 33,136 4 15942 10,155 45090 30,311.00 a coco 65.21 4.007 Ministries pooling data to account for A EF PRR a ANE or RTCA NEW DELHI: India has taken the frst step to ‘account far environmental damage while calculating its national income or grass. domestic product. Various ministries have begun pooling data to create environment ‘accounts for forest cover, water, waste and soll resources, among others, under a newly introduced System of Environmental Economic Accounting. ‘The work has just started on the system hich can eventually yield benchmarks such as sustainability Index and biodiversity index, officials said. The system, similar to the ‘System of National Accounts thats followed to calculate economic growth, has been mandated by the United Nations Statistical Division, they said. “We are in the process of collecting data, but there are many gaps. This is the preparatory stage...We are talking to other ministries if they can give us some data,” said a statistics ministry official, who did not wish to be identified. The statistics ministry has circulated {ramework to other ministries to provide data for this endeavour which is designed to present a comprehensive picture of India’s growth One Step at a Time WHAT MINISTRIES ARE DOING | HOW ITWILL HELP | WHY FOLLOW A NEW SYSTEM Pooling data to create Iteaneventually | The system has been mandated environment accounts for yjleld benchmarks | by the United Nations, forest cover, water, wasie and | suches sustainability | Statistical Division soil resources etc under System | index and of Environmental Economic; biodiversity index Accounting i Cate ‘An expert panel setup by statistics mir eee eet’ Cece coat er make the run rag ‘An expert committee set up by the statistics ministry in 2013 chaired by Partha Dasguota, ‘emeritus professor atthe University of Cambridge, had said thatthe system of national Sc the absence of any operating ed hpsdleconomictimes indiatimes, cominewsleconomy/plicy/minisvies-paoing-daa-to-account-for-nvironmentaldamage-in-gdparticleshow527800. ‘Mutual Fund investments are “ subject to market risks, read torts * all scheme related documents ox cneare we RSD roth wneducen. ay 7.75% Government of India Sen Loca) Sera YOUR Parenti Top Trending Terms ‘Sensex Munbsi Ris Roko Lie Uples 170 Political Potpourri ie 22si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times Sree CETTE GPE TEOMA aa {growing recagnition that contemporary national accounts are an unsatisfactory basis for economic evaluation I went on to define depreciation as not only the wear and tear of buildings and equipment but also the loss of human capital and quality degradation of natural capital Pollutants are best seen as the reverse side of natural capital, the committee said. “The ‘way to conceptualise pollution is to turn one's mind to the depreciation of capital assets, pollution brings in its wake," it said, However, the task is a mammoth one given the absence of any operating manual on how to work an the new system. “Creating green accounls is a complex issue. For example, to prepare water account, we need data on surface water, groundwater and glaciers. Glacier data can only come from satelite images,” the offical said. Paueity of data wil ‘make things diffcut for the government, especially since there no precedents inthis field in other countries from which it can emulate best practices, “There are challenges in putting value to the services provided by natural resources like biodiversity and prevention of soll erosion in case of forests,” said economist Niin Desai, a {former under-secretary-general af the UN who was a member of the expert panel. “However, just ike conventional GDP calculations, approximations will be needed to make these accounts, If we do this, we'llbe the pioneers of green national accounting.” ET view: The Right step This is a good initiative. With climate change Impacts and sustainability emerging as crucial considerations in economic and development policy making, itis time to rely on a ‘measure of economic progress that takes into account the value of natural resource, human capital and infrastructure. By getting the ministries involved, the government has signalled that itis very serious ints intent, I can draw on the Partha Dasguptaded expert committee's report, which provides a framework on moving forward from the existing system of accounts to a broader measure, and an outline ofthe data that would be Fequired to produce a comprehensive set ofthe national accounts. ° Read moreon Gi_—=—«Sistarally——lecirsty Gass DenesicPradict_—_Depacaton Also Read Ins December quartor GOP grow Ikaly tbo 7% Japan to revamp GOP data to retet sharing economy sett dict widens to 2% of GOP on higher iinet ba hpsdleconomictimes indiatimes: com/newsleconomy/policy/minisvies-pacing-dal-to-account-for-environmentaldamage-ingdparileshow'537800. ‘SROWCESES GIOBATIAR Messages wore read aut rom Afican ‘atonal Congress ane South Arican president Cyril Ramaphosa, The message from the Communist Party of China was read out by Zhou Yuyun + Eyo on 2019 pol, BJP roachos outto allies + Cenite delays judge's appointment over ‘concocted complaint C8 2» Looking for GST Consultant? Click hereto find now Most Read Mos'Shared Most Commented "Nobetwrmer Put Krugman warn nda story could ‘nt win mae unemployment (Congress plenary Ive: Name Mol symbolises colusion between conyeaptalst & PM of ia aye Rahul Precautions must wile sharing Aadhaar number ‘nine: UIDAL Inia I's lop executes average sa? 249 tes more than current account df widans o 2% of GDP on higher of importsi2120%8 Miistries pooling data to account for environmental damage in GDP - The Economic Times From Around The Web Crow your ha back witout Tap ere reasons a by Wale "Oru Naka Na sry nase Tole Lanwates Heath... Pasay Seen Now More from The Economic Times “versa unamplyrar Mote ro mia, sovainge BP ‘ripe ost, 'okt rsa eyeng Bosra Super canto orn Hemet forts a free NEXT STORY Fixed-term employment extended to all sectors to boost ease of business NEW DELHI: The government has extended the facilty of hiring workers on fixed-term ‘employment to all sectors to improve the ease fof doing business, meeting the announcement ‘made in the Union Budget. Ithas also given in toa major demand ofthe trade unions — that ‘no permanent employee be moved to fixed term employment, The facility for hiring on fixedterm contract \was initially available only for the apparel ‘manufacturing sector as per the Industrial Establishment (Standing Order) 1946. manu sc (Stanang Ore) Actin Osober 2076 ‘According to the notification to amend the order, words ‘fixed-term employment in apparel ‘manufacturing sector’ will be replaced by “fixed-term employment” meaning that facility ‘would be available forall sectors. ps /leconomictimes indiatimes, com/newslecenomy/policy/minisvies-paoing-dala-to-account-for-environmentaldamage-in-gdparicleshow'537800. Not to be Missed [Numotal Arcola bids for Essar Inaigbie essa’ I Numetalmoves NCLT over Essar Stead “Travel our crested 25.9 mn abe in 2017: Report EI Suicise tomber kis 28in Kabul sace Offa Nationa rubber polly inthe making ‘Suresh Prabhu Top Trending Terms ‘Sens Muri Ris Roka Le Uplat 1PO Ssramash— Chanerababs Nike Kamat Eton Ni Asyen Looking for GST Consultant? click hereto find now Most Read Most Shared Most Commented "Nobotninner Paul Krugman wars nda stor could ‘nd ts mass unemployment ‘Congress plenary Ive: Name Moa ymbotsos sion between cony capt & PM of ia, says Raat Precautions must while shaving Adar number a2si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times 2a a result of non-renewal ofthe contract between the employer and the workman ‘uated cou Sot widens 2h of GOP on concemed, higher ot import ‘Aseparation of service of a workman as a result of non-renewal of the contract of ‘employment between the employer and workman concemed shall not be construed as termination of employment. It’s A Contract Tannen Labour min has notified Co ekg fixed-term employment Y pet) for all sectors Cc a kd cata Cea ed eer Peru erent sectors WM TEMPORARY WORKER HAVING seasonal in SP) nature completed 3 months in service fixed-term shall get 2 weeks' notice before ‘termination To encourage more employment as would be entitled work hours, it wil be for a Seog short period Se oat This facility wil aid industry to employ workers in sectors which are of seasonal nature and witness fluctuation of demand and hence requires flexibility in employing workers, Inhis Budget speech last month, finance minister Arun Jaitley had said: “The facilty of fixed-term employment will be extended to all sectors", FFixed-term employment was introduced in apparel manufacturing sector in Industrial Employment (Standing Order) Act in October, 2016. The employer can directly hire a ‘worker fora fixed term without mediation of any contractor. The fixed-term worker would be entitled to all benefits such as wages, hours of work, allowances and others statutory benefits, not less than permanent workmen UNION DEMANDS In the notification, the government said “no employer of an industrial establishment shall convert the posts of the permanent workmen existing in his industrial establishment on the date of commencement ofthe industrial Employment (Standing Orders) Contral (Amendment) Rules, 2018 as fixed-term employment thereafter” ET reported inthe first week of March that the ministry has gone back to the drawing board to reframe the fixed-term contract notification itissued in January after stif opposition from trade unions. They see the proposed amendment to rules as paving way for converting permanent ‘workers into contract workers on fxedterm besides facilitating hire-andire for employers, htps:leconomictimes indiatimes. com/nawsleconomy/policylminisvies-pocing-datato-accaunt-for-envronmental-damage-in.gdplarileshow'S37800.... 4122si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times EY | EY EF | Ef More from The Economic Times atonal palcy en Alsoon folowiaw?esks SC campagninAnava——Maheashie, Kamaskap. NEXT STORY Niti Aayog to come out with national policy on artificial intelligence soon By Youn So Sharm, Sub Agena ET Bras | Wa, 218, NEW DELHI: The Niti Aayog will soon come ‘out with a national policy on artificial inteligence, outining the scope of research and for he adoption and commercialisation of the technology to counter China's thrust towards A The policy is expected to lay out shor, ‘medium and long-term goals to be achieved by 2022, 2026 and 2030, as India gears up to utahors mesum-9°drpegt its commitment towards sustainable reser development goals, starting 2018. Under the policy, deadlines for commercial Top Trending Terms Sensex Mumbai Rall Roko Live Updates 10 Looking for GST Consultant? Cilek hereto find now Nobetuinner Paul Krugman wars nda story could fend win mae unemployment htps:leconomictimes indiatimes. com/nawsleconomy/policylminisvies-pocing-datalo-accaunt-for-envronmental-damage-in.gdplartleshow'S37800.... 5122si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times TeerveS Tor Sarlups and venture Caplal nds Wal Underake TessareH ana aTOpUGA OF Al These guidelines would be based on half a dozen pilots the Aayog has undertaken on Alin areas of agriculture, heath, education and creation of other social infrastructure, {A senior government official {old ET that the government was considering to set up another high-level committee which would be responsible forthe implementation and monitoring of Al It will be responsible for removing any intial roadblocks the policy may face in its implementation, Itis expected that the financial allocation under the A‘al Innovation Mission would be used {or funding the programme on a nationwide scale and projects will be granted on the challenge mode. The government is already providing support of up to Rs 10 crore to established and upcoming incubation centres under the Atal innovation Mission. It had allocated Rs 500, crore towards this in 2015-16. Of ths, the original allocation under the mission for 2017-18 was Rs 112 crore, which was revised to Rs 150 crore. For 2018-19, itis Rs 200 crore. Besides, the nationwide strategy on Al would also emphasise on the need for hiring experts in the domain. "Our endeavour wil be to get the best international experts associated with as well as those acquainted win the applicability of Alin the Indian or developing country context, the offcial added. According to the oficial, Al is a unique technology that can provide scale of application and: quality of approach simultaneously. Finance minister Arun Jaitley, in the budget, had asked the Aayag to initiate a national programme to crect governments efforts in the area of Al 0 Readmoreon ches Annatky—NARp AL‘ novation son Also Read [ITI Aayog works on satgy to lverage leckcaintchnclegy ITI Aayog to work on mechani for MSP imtementaon More dynamic superionneodd for bake: Ni Ayo Economy botiome out, on terse again: Na Aayog (comments ‘Ade Your Comments From Around The Web Sponsoredby mn m7 m4 m7 Tracavone mon we ang Aaah noner ‘nine: UIDAL Inia Into exzcutvos eam 243 bmes mor han svorage sa? current account Sf wide o 2% of GDP on higher ot import htps:leconomictimes indiatimes. com/nawsleconomy/policy/minisvies-pocing-datao-account-for-envronmental-damage-in.gdplartileshow'S37800... 6122si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times 1 dys aot Ayuveés Watch Ov Nala Naa hair at werks 100% Paar Solr’ Now Top hereforresorsio buy A BPO man becomes More from The Economic Times Fl | El | BY | Br NEXT STORY Raghuram Rajan says 7.5% growth rate is not enough to create jobs i pat Ma 29,201, 07.29 IST India should be thinking of the next 10 to 20 years when it would need a massive push to create jobs, said Raghuram Rajan, Professor of Finance, University of Chicago Booth ‘School of Business and former governor of Reserve Bank of India, CCresit Suisse Asian Investment Conference in Hong Kong, Rajan said India could achieve ‘even 10% growth fit built infrastructure, cleared the way for companies, eased the way for them to do business, and improved the quality of human capital including healthcare and education "Now ifwe can do allthis, and it requires some important steps which require spending politcal capital, butif we can doit, | think we can move up from the 7.5 percent growth ich is not enough to emplay the 12 milion people coming tothe labor force every year in good jobs. We can move up to maybe 10, provide some kind of source of demand for the work, We can do that but | think we need to work on it" he said in an interview to Nac. (n lack of reforms in India, Rajan said they were happening but at a slower pace. “Well, things are happening. They're happening more slowly than one would wish. That's potentially the cost of getting political agreement, But we do need to work at it and work hps/leconomictimes indiatimes. com/newsleconomy/plicy/minisvies-paoing-daa-to-account-orenvironmentaldamage-ingdparileshow'S37800. Top Trending Terms ‘Sensex Mumbai Rl Roko Live Untes 1P0 Karst Eatin NU Ayo Looking for GST Consultant? Click hereto find now Most Read Mos! Sharad Most Commented Nobetwiner Paul Krugman warns nda story could tnd win mae unemployment ‘Congres plenary Ive: Name Mol symbolises ‘oluson between cony capitals & PM of Ia Procautons must while sharing Aadhaar number ‘nine: UIDAL Inia Ire top exocutvos eam 243 bes more han average sat Current account deft widens o 2% of GDP on 7122si2120%8 Miisries pooling data to account for environmental damage in GDP - The Economic Times will be different from China's, but itcan be a very healthy growth pathway if we do what is necessary he said (On how quickly can India achieve 10% growth, Rajan said that could happen after the Lok ‘Sabha elections next year because reforms would now be put off "Well, first | think to some extent, reforms will be put on the sheif til the next election, But post-election, if we can accelerate this pace of reform, there's no reason why in two or three years we could move up to a higher plane of growth. It needs some key reforms in areas lke land acquisition, Ike reforming the power sector. But I think once those are done, the impetus vill be given, industry will get more confident, business will get more confident, that could be the new era. But it probably wil have to wait tl the election," he said, o Readmore on eguransn——Mos\Govenment ote iowa Also Read No intention of anterng pies, says Raghara Rajon Populist nationalism damagos ecanamic growth: Raghuram Rajan Raghuram Rajan opens up on whats working ar what's not working fr nda Raghuram Rajan favours baring promoters om bing for stressed assots ‘Comments “Ade Your Comments From Around The Web Sponsordby EY | EY | EY | EY Wiolcoms ma now way of The -tckto los wlgnt Loong fran ofc space? le Brokerage R10 on ropory ownership ito any dent 00%... Gofor ASV Consiuctors! Dent account wih SPaia More from The Economic Times Fl | Bl | Ef | El Nai seeks btn inuttal Paul Krupnan wane india NAL gas soprovlornew Man being Ube, MS" CEO ‘ops ane spacalslaus _overmass unemployment Nowt-Gan var arrat__ ing stares sect htps:leconomictimesindiaties.com/newsieconomy/poicy/minisies-poolng-datao-account-for.envronmental-damage-in-gdplarcleshow/S37800.... 822si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times NEXT STORY Niti Aayog to come out with ranking of 115 aspirational districts, says Amitabh Kant NEW DELHI: NITI Aayog GEO Amitabh Kant today said the government think-tank will come out with a ranking of 115 aspirational districts in the next two days. The Centre has embarked upon @ major policy initiative for rapid transformation of 115 districts which are lagging on specific development parameters. "We are going to deciare frst ranking of (115 aspirational) districts within two days. And we will capture ranks of districts every month as it changes, how districts are going up or districts are coming down, ‘Our objective is that districts must make change on day to day basis,” Kant said at an event organised by NITI Aayog, He further said that while India has moved up 48 places in Ease of Doing Business rankings, the country's rank in Human Development Index (HDI) is stl low. “We are telling every district that presently where they stand today and how the best performing district in that state doing and and how the best performing district in India is Kant noted Earlier this year, Prime Minister Narendra Moci had asked collectors and officers-in-charge of the 118 aspirational districts to come up with pioneering innovations to achieve visible results for development by April 14, the birtn anniversary of BR Ambedkar. The officials concermed should focus on “low hanging” fruits to show results and ereate an atmosphere of optimism and positivity, Modi had said, adding that success stories are needed to change the psyche of people. Caling for a concerted effort to achieve visible results in three months, Modi had said he ‘would like to personally visit one such well-perlorming district in April, adding those 115 districts could become "the foundation for developing New India”. Senior government officials of the rank of additional secretary and joint secretary have been designated as officers-in-charge to coordinate the efforts of the Centre and states in addressing the specific developmental needs of these districts. Kant today also signed a Statement of intent (Sol) with Piramal Foundation to work closely with the district collectors and key officers to support the transformation of aspirational hpsfleconomiatimes indiatimes, com/newsleconomy/palicy/minisvies-paoing-daa-to-accaunt-for-nvironmentaldamage-ingdparicleshow'S27800. Top Trending Terms Sensex Mompai Rl Roko Wve Uptes 10 Income tix Aachase Card GST Rats Looking for GST Consultant? Click hore to find now Most Read Most Sharad Most Commented "Nobetwnmer aut Krugman warns nda story could tnd win mate unemployment ‘Congress plenary ve: Name Mol symbol ‘oluson between conycaptalst & PM of dia says Rahul Procautons must while sharing Aadhaar number ‘nine: UIDAL Inia Ine top exocutvos eam 243 tes mor han Curren account Sf widens o 2% of GDP on 9122si2120%8 Miistries pooling data to account for environmental damage in GDP - The Economic Times. Read more on ArinbhKank_——NaendeNowi Ease FD Busines Aon Also Read Aan Xaot ots for early ratifestion of x EU FTA Government take strcthosptals to mecca college level: Amitabh Kant Competitive laderatam i goad ting: NII Aayog CEO Amtabh Kant Physical banks willbe ireovant in nex 3 years in nea: Amita Kant ‘Comments "Ade Your Comments From Around The Web Sponsoredby Fl | Bl | Ef | El Saving Taxsrownotse Holdeyaeessine 8b Improve your vig, vsly& Lie insurance pes in nse: axe! wont stamnas2% otov...Simped Ror you More from The Economic Times Fl | Bl | Ef | El YYSRC,TOPtomoverne Slabucke Keen ofl te cup Ans dol ut “wo gtsunded Ate 320 contdence moto tday—_& pe foryou romotors ss py bl sous race bacin see: no NEXT STORY Is the International Solar Alliance the new model for co-operative development? NEW DELHI: The Intemational Solar lance could help change the way development feNON*S agencies, and through them governments, Top Trending Terms ‘Sonex Monbai Ra Roko Live Updles 1P0 Karst lei NU Asyog htps:leconomictimes indiatimes. com/newsieconomy/poicy/minisies-poolng-data4o-account-for-envronmental-damagein-gdplarcleshow/S3780... 1022si2120%8 (AFD), who travelled to India recently as part of the delegation accompanying French President Emmanuel Macron says that partnerships tke the International Solar Aliance will “help give higher priority to climate in the strategies of our institution” Rioux explained that for a long time development finance was “nearly stcty focused" on the fight against poverty, and that imate was “somehow a prioity of lesser importance”. The AFD CEO told ET that though this approach is changing, ‘we are not there yet” “We are convinced both issues—social cohesion and inclusion and the fight against climate change—are deeply linked. A society wnere the links are weakening is not in @ position to fight efficiently against climate change, and climate change has a strong impact (on social cohesion.” Rioux acknowledges that two issues can be conflicting but stresses fon the absolute need to find compromises. “We have to find dynamic compromises between climate goals and social cohesion, This is the spirt ofthe sustainable development goals (SDGs), The AFD boss says that the International Solar Alliance (ISA) will help the international community to address both climate goals and the SDGs.Itis this potential of the Intemational Solar Alliance that underpins the decision ofthe French government to increase the funding available to the 121 countries comprising the sunshine club to €1 billion. ‘At the foundation ceremony forthe International Solar Aliance (ISA) headquarters in Gurgaon, near New Deli, in January 2016, the then French President Francois Holland had announced that AFD would allocate €300 milion over a five year period for solar projects in ISA member countries, That allocation, AFD CEO Remy Rioux told ET, had "We did not know the momentum that the initiative will provide or maybe we were a bit cautious but we have already reached the goal of €300 milion at the end of 2017," said the French development agency boss. The decision to increase the allocation for ISA is as Rioux puts i, ‘more a testimony of what is happening on the ground." The momentum on the ground is evident, At the ISA founding surmmit, President Macron announced that the French Development Agency will allocate additional €709 millon to its commitment to solar energy by 2022. Of the increased funding allocation, Rioux says, “hopefully we will surpass it For the AFD chief, the ISA is not just about solar project, itis @ partnership to make good fon the promises made by countries to slow down global warming and to transition to a sustainable development pathway. As France's chief negotiator on finance at the UN- sponsored Paris climate summit in 2015, Rioux witnessed the evolution ofthat partnership, “I know very well the role that India played for the success of the summit. The announcement ofthe international Solar Alliance by Prime Minister Modi and Francois, Holiande, the French President at that time, was especially instrumental for the success of COP21.” He says that the ISA “shows the strong commitment of our two governments”. AFD will continue to be an important player inthis partnership especially given the Ministries pooling data to account for environmental damage in GDP - The Economic Times MostRead ost Shared Most Comment Nobelwnner Paul Krugman warn nda sory could find win mass unemployment Congress plenary ve: Name Moat symbokaes ‘olson between cony capt & PM of ia, says Rahul Precaution must wile sharing Aadha nine: VIDA number Inia In top exccutvos eam 243 tmes more han average sat curren coount deft widens o 2% of GDP on higher of import htps:leconomictimes indiatimes. com/nawsleconomy/policylminisvies-pocing-datato-accountfor-environmental-damage-in.gdplartleshow'5S3780.. 11122si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times TT SSESTISTCE TS WOT TATOMT FATE GH BITS SEGA GAO TS BORTGVE TAS ZOO Sustainable Development Goals. This, Rioux says, will mean thatthe share of solar and renewable energy will increase significantly in each country. “We wil follow and support rational policies,” the AFD CEO said, stressing that “the strategic direction is clear’. Rioux says that potical priority and momentum and visibility given by ISA will result in more soalr and renewable energy projects, particulary in the global south. The AFO is particularly interested in ISA's work programme on finance, ‘We are very interested in one of the pilars, affordable finance at scale that deals with risk sharing mechanism, and crowding private investment.” Capital costs present the biggest obstacle to solar deployment, and access to affordable financing has proved to be dificult, Ensuring access to affordable finance has to be high on the agenda, ISA set up a mult-stakeholder taskforce comprising the Council on Energy, Environment and Water, Terrawatt Intiative, The Currency Exchange Fund (TCX), World Bank, and Confederation of indian Industry to develop a common risk mitigation mechanism that can by diversifying and pooling risks help catalyse domestic and international private institutional capital. Unveilad at the Bonn climate conference in 2017, the platform is designed to leverage bilions of impact capita to catalyse $1 tilion of domestic and international private institutional capital and over 1TW of solar power generation capacity by 2030 in ow and middle-income countries, Transitioning to a sustainable development pathway isn't just an issue for the global south, Rioux points to a recent exercise of mapping countries in terms of their human development index and ecological footprint. “There are broadly two highly polarised groups. There are lot of countries, mostly from the south with low HDI and low ecolagical footprint, and then there are many countries with high HDI and high ecological footprint, this group includes counties from the global north," the AFD chief says, stressing that the message is clear. "For now, no country isin a sustainable landing zone. And this zone is reducing as we are exhausting resources, The message is clear, we are all ransitoning, There are no models s0 we have to leam from each other,” says Rioux. The solar alliance provides a blueprint of such a partnership. Rioux says that a new world is emerging, and he is positioning AFD at the forefront of that change. "The AFD is the oldest development institution." The Agence Francaise de Développement evolved from the Caisse Centrale de la France Lire (Central Fund for Free France) set up by Charles de Gaulle on 2 December 1941 in London. Through its chequered history, the agency has evolved to the changing context, Rioux stresses that it is no longer a one way dissemination of technology, know-how, and finance. “We know the new world that is emerging, | see the AFD as an instrument fo work with partners and also to bring back new knowledge to France.” The agency's work in India, where ithas been ‘operational for the last ten years, fits this idea of a two-way partnership, The AFD boss said “sometimes we look old sometimes we look a bit old, but we are transforming, and ‘morphing. AFD will be atthe frontline to work both ways, exporting finance and technology and but also bringing back innovations, investments, technologies, new forms of doing business, and governance which we are learning from emerging and developing markets.” 0 Readmore on hitter Sr Arce Ran lar“ HSA_—_—SoaAance htps:leconomictimes indiatimes. com/nawsleconomy/policylminisvies-pocing-datato-accaunt-for-envronmental-damage-in.gdplartileshow'S3780.. 12122si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times 23 beads of slate ha ntemaonl Solar Asance Intomatonal Soar Alsance may extend is membership Irsemationa tar lane: a's place under the Sun ‘Comments ‘Ada Your Comments From Around The Web Sponsoredby EY | EY EY EF ola pte NearPecnglahur Assured Buyback Insrance Poy by NC More from The Economic Times EY | EY EY EF NIT Aayeg wore an panto LingayatReseation- Wl Why hybrids rat EVs are Now sos ent ma ron NEXT STORY Bill to ban unregulated deposit schemes moved in Lok Sabha NEW DELHI: A bill soeking to ban unregulated deposit schemes with a view to curb defrauding of gulible investors through chit funds, was moved for introduction in the Lok Sabhe today amid din. ‘The Banning of Unregulated Deposit ‘Schemes Bill, 2018 was moved for Introduction by Minister of State for Finance Shiv Pratap Shukla amid slogan shouting igeush heres members of various parties on several issues. Top Trending Terms Sensex Mumbai Rat Roto Lve Upeles 1PO Howto Save oame Tax hear Tax Sb Looking for GST Consultant? Cilek hereto find now Most Read Mos! Shared Most Commend htps:leconomictimes indiatimes. com/nawsleconomy/policylminisvies-pocing-data4o-accaunt-for-envronmental-damage-in.gdplartileshow'5S3780.. 13122si2120%8 Miisries pooling data to account for environmental damage in GDP - The Economic Times. says Rant Companies and institutions running such schemes exploit the existing regulatory gaps and lack of strict administrative measures to dupe the poor and gullible people of their hard. _Peestlons mest whe sharing Aadhaar ruber eared savings, says the bil sue na nes op executes eam 243 tmes more han ° average sat Read more on ‘esse «Sh ralap Skt Osbv Lek San Pigher ot import Also Read Ranbow of lure in Lok Sapna “Three now MPs take onhin Lok Saba Congress wakes out of mest on Lok Sabha agenda Lok Sabha, Ray Sabie adjourned amid protest Comments) [Ass our Coren] From Around The Web Sponsoredby Fl | Bl | Ef | El Sfoivesimentweh high TDSProto manage yeur Orne Btcon CFO Tang. Burn aloxcss ft with nis rotus TOS qanoryrotuns ——_Rogster tay hooby Wick Try toy More from The Economic Times EY | EY | EY | EY ‘eure ne protic Junaid cose: SC say al, 365 abstaes or aera Make no mistake, a Factbook ble model... sues rows C81 aroun Glerpor: HC kd avatiage UP NEXT STORY Government hopes to bring new telecom policy in next Parliament session Sensex Mui Ra Roko Live Utes 1PO ° Saramaeh —Chanerababy Nady htps:lleconomictimesindiatimes.com/newsioconomy/poicy/ministies-poolng-data4o-account-for-envronmental-damagein-gdplarleshow!S3780... 14722si2120%8 has said the new National Telecom Policy (NTP) is almost ready and will be brought in the next session of Parliament after a Cabinet nod and comments from the public. ‘Speaking on the sidelines of an industry event Tuesday, Sinha added the recent approval to the telecom relief package — that entails giving more time to companies to pay for the spectrum they bought as well as liveralised spectrum holding caps — from the Cabinet, will sure that sector continues to grow strongly. “The new telecom policy is almost ready, and, this month, we will place it on the Departments website for public comments. We will bring tin the next session of Parliament,” Sinha said “The telecom sector has enjoyed a successful history and ths will ensure that the success continues and that India continues to get good connectvity” the telecom minister said when asked aboul the official approval to the telecom relief package that came in last week. The Department of Telecommunications (DoT) has amended the licence norms, as per which carriers have a one-time option of making payments for the spectrum they purchased in auctions between 2012 and 2016, in a staggered manner across 16 years, instead of the 10 years before. There's no change in the moratorium period of two years after making the first tranche of the full payment. The DoT has also amended the licensing rules to increase a telco's overall spectrum holding limit to 35% from 25% earlier. Till date, government rules barred a merged telco {rom holding over 25% of spectrum allocated in a circle, and over 60% in a particular band, Ithas also scrapped the earlier 50% cap on intra-band airwaves of carriers, but imposed a {resi 50% limit on a telco's combined airwave holdings in sub-1GHz bands, including 700, MHz, 800 MHz and 900 MHz. The extension inthe deferred payments tenure, which will give the goverment an extra Rs 74,448 crore till 2034-35, is aimed at boosting the health ofthe beleaguered telecom industry that is saddled with nearly Re 8 lakh-crore of debt and has seen a plunge in revenues and profits amid continuing price wars. Easing of spectrum holding caps, in tur, will help in the ongoing consolidation in the sector as several companies are undergoing mergers and acquisitions. Vodafone India and Idea Cellular merged entity would be saved from surrendering or selling spectrum in seven circles — five circles in the 900 Mhz band, and two in 2500 Mhz band — thanks to the new rules, while Bharti Airtel and Reliance Jio wil also benefit, Telenor, Tkona Wireless and Tata Teleservices are merging their businesses with Bharti Airtel, while Reliance Jio is in the process of buying wireless assets including spectrum and towers of troubled carrier Reliance Communications — with the deal valued at nearly Rs 25,000 crore. Ministries pooling data to account for environmental damage in GDP - The Economic Times Looking for GST Consultant? Click hereto find now Most Read Most Shared Most Commented Nobetwinner Pat Krugman warns nda story cout fin mate unemployment (Congress plenary ve: Name Mol symbolises ‘olusion between cony capitals & PM of iia aye Rahul Precautions must while sharing Aadhaar number ‘nine: VIDAL Inia Ines top exscutvos eam 243 bes mor han average sa? current account Saft widen o 2% of GDP on higher of import htps:leconomictimes indiatimes. com/nawsleconomy/policylminisvies-pocing-datato-accauntfor-envronmental-damage-in.gdplartleshow'5S3780.. 15122si2120%8 Miistries pooling data to account for environmental damage in GDP - The Economic Times. TEIWGAES, BaWer CoMTOCIVI ane ENTESS, TOUGH NTP OTD, Ts Ground WORK TOF WHET has been done over the past year. ° Readmore on ‘TehoomPulty thar Sesion Obra PARGH Yj Spec caps O4parment or Tacom Also Read Nationa Telecom Paley 2018 mus so stage or Telecor-Phs' era [DoT totleat new drat elocom policy wihin a weok ‘GSMA wants goverment to fons on SC in nw tlacam poy “ral back lower taxes, levies in new locom poly (Comments ‘Add Your Comments EY | EY | EY | EY More from The Economic Times EY | EY | EY | EY DGCAtD#le atid on Shankar Sharma reveals Union Sank Ba seekto be Neal inn ht okt s sirworniness of 20 Neos 100saqgefornla ——parytoNaveas US case D.Ste newest ions NEXT STORY Scrappage Policy may not increase demand significantly: C: ee MUMBAI: New scrappage policy unlikely to Top Trending Terms Sensex Munbsi Ris Roka Live Updles 1PO Karat leon Ni Aaya Howto Save oame Tax hea Tax lbs htps:leconomictimesindiaies.com/newsioconomy/poiy/minisies-poolng-datao-account-for.envronmental-damagein-gdplarcleshow!S3780... 1622si2120%8 ‘The much-awaited vehicle scrappage policy has received a go-ahead from the Prime Minister's Office and is awaiting approval from the Goods and Services Tax (GST) Counel ‘As por the draft policy released by the Ministry of Road Transport and Highways. (MORTH) on May 26, 2018, vehicles older than 18 years ‘were eligible for benefits under the scrappage scheme, However, as per the latest update, the two major changes made to MORTH's earlier éraft note are:Change in the age of the vehicle from 15 years to 20 years and policy to be implemented from April 1, 2020, coinciding withthe implementation of BS-VI norms "While the vehicle scrappage policy was expected to be implemented in the near term, the government intends to enforce the policy from April 1, 2020, which will coincide with the implementation of 8S VI norms. Though the benefit offered under the scrappage policy is, expected to be ~15% of the vehicle's price, the effect will be muted as prices of dlesel vehicles are expected to go up by 10-15% once the new norms come into force,” observed the note MORTH's earlier draft note on Voluntary Vehicle Fleet Modemisation Plan had proposed. that vehicles bought on or before March 31, 2008, would be eligible for the scheme and got 50% waiver on excise duty, scrap value ofthe truck and additional discounts from the original equipment manufacturers. ‘As per Crisis estimates based on that draft note, 640,000 vehicles would have opted for the scheme in the course of three years of implementation. Crisil says if one looks at the various vehicle segments in the commercial vehicles industry, very few vehicles would actually be older than 20 years in the current vehicular population Medium and heavy commercial vehicles (MHCVs) that typically have a life of ~20 years, ‘would be eligible under the scrappage scheme. Under MHCVs, medium commercial vehicles (16 tonne gross vehicle weight) would beneft the most, while the number of mut-axle vehicles, intermediate commercial vehicles(ICVs), tractor tallrs, and light ‘commercial vehicles opting for the scheme would be very limited “The total population of commercial vehicles that will be oldar than 20 years in fscal 2021 ‘would be ~50,000 vehicles, much lower than the government's earlier estimate of 2.8 crore Vehicles and our intemal estimate of 640,000 vehicles,” added the note. ‘According to Crisil, 70,000-90,000 vehicles are scrapped every year. So, the agency believe the impact of the scrappage policy will be Imited. However, the additional benef from the scheme will prop up CV demand to some extent when vehicle prices will Increase because of change in emission norms (from BS IV to BS VI. Crisil however added that it awaits disclosure ofthe final benefits from the scheme and approval by the GST. Ministries pooling data to account for environmental damage in GDP - The Economic Times Most Read Mos! Shared Most Commented "Nobetwnner Paul Krugman warn nda story cou fond wit ass unemployment ‘Congress plenary Ive: Name Moa symbaksos colsion Deleon cory capita & PM of ia, faye Rahal Procautons must while shaving Aadhaar number Ina In top oxacutves earn 243 tes mre tha sverage sat current account df widen 0 2% of GP o higher ot import htps:leconomictimes indiatimes. com/nawsleconomy/policylminisvies-pocing-datato-accaunt-for-environmental-damage-in.gdplartileshow'S3780.. 17122si2120%8 Miisries pooling data to account for environmental damage in GDP - The Economic Times. ‘chat Mbah iy OF Road Trapt ‘Comments “ad Your Comments Read more on Resetamsct ST From Around The Web Er EI | EF | EL Regions open or NPAT Engen aciatons 8 20188 00 open ow hate senile EY Caaf bulng nyt of Jagannath Pu. eperatonalexestence More from The Economic Times EI) EF | EY | ef Iria eyeng Bosngs Super Wry 2019 rat 2014 Oveconfisence cost UP ype: Ayana r.8 2-2 na aly May 2 June NEXT STORY Absence of GST refund mechanism hits gold demand from tourists, NRIs o KOLKATA: Foreign tourists and NRis visiting India are not investing in gold jewellery tke before as there is no mechanism to refund the GST on their purchase which they are otherwise entitled to claim, bullion traders and jewollers said, The Integrated Goods and Services Tax Act of 2017 allows a foreign national or an NRI, who enters India fora stay of less than six months, to claim GST refund when he leaves India Gold jewellery attracts 3% GST. «los tune under ST hps:sleconomictimes indiatimes. com/nawsleconomy/poicy/minisies-pooing-data4o-account-forenvronmental-damage-in-gdplartcleshow/53780. Top Trending Terms Sensex Mumbai Rat Roto Lve Upetes 1PO Karat Election Ni Aayog How Sve eam Tax hear Tax Sb Income Tax Aacrasr Card GST Rates Looking for GST Consultant? Click hereto find now Most Read os! Shared Most Conor "Nobetvnner Paul Krugman warns nda sory could fn win mass unemployment san2si2120%8 Miisries pooling data to account for environmental damage in GDP - The Economic Times. the refund mechanism is dampening sales to tourists under GST." Pracaone mut fun ohvig Andhesr usar nine: UIDAL Khandelwal said offering tax refunds has long been an important way forctles and tna In’ tp exscitves am 249 ses me han countries to attract overseas tourists. “Keeping in mind global practices followed in other aver Sa" Countries, tourists should be in a positon to get tax refund on purchases made by them ‘current sccount date widen 02% of GP on when they leave India,” he said. higher ot mpor ot Surendra Mehta, national secretary at India Bullion & Jewellers Association, concurred. “As the refund is not happening, NRIs and foreign citizens are reluctant to buy traditional jewellery in India, which is directly affecting the jewellers," he said Chartered accountant Bhavin Mehta of Dee Cee Associates sald the explanation to Section 15 of the IGST Act defines the term tourist and also has specific provision for rafund of GST paid by tourist leaving India on any supply of goods taken out of India by them. “However, the government has not laid down rules to implement the refund ‘mechanism til dat. Further, absence of refund mechanism shail lead to export of taxes, Tax being exported ‘makes the jewellery in India less competitive as compared to its foreign counterparts,” he said, Mehta added that in Singapore and Australia, there are Tourist Refund Schemes, (TRS) that promote tax-free shopping. Read moreon Gent Golson Trades GST. Tease Also Read Oftine mechanism oo fr delayed GST olds to oxpotors abet wl adress GST refund issue of expos: Suresh Prabhu Exporter eel under eashcrunen wih pencing GST rene ‘Comments “ad Your Comments From Around The Web Sponsordby EY | EY | EY | EY 2018-19 Admssons open at Paincpalask ahertgo, Seach, Compare &Book WW School Design Cont Unversy af Ta. rapes dugter Hotes undorone ot _Unosshihe arin you More from The Economic Times Fl | Bl | Ef | El hps:leconomictimes indiatimes. com/newsieconomy/poicy/minisies-poolng-datao-account-or-envronmental-damage-in-gdplarcleshow/S3780... 19722si2120%8 Miisries pooling data to account for environmental damage in GDP - The Economic Times. NEXT STORY GSTN data may be used to reach out to MSMEs by vasushaVrappa ET Ben | Up a2, 2018, 1021 AIST o NEW DELHI: The government is working on structuring a twomonth programme, leveraging dala captured by the GST Network, to apprise small businesses of the schemes ithas implemented to support them and handhold them to avail of those, senior officials sald GSTN, a not-for-profit non-governmental organisation that manages the entre IT system of the goods and services tax portal, hhas more than 95 lakh micro, small and ‘medium enterprises (MSMEs) listed oni. enter “The decision the launch the outreach programme was made over the past few weeks, officials said, after a meeting chaired by Prime Minister Narendra Modi where he tasked them to put together a working plan to communicate better with small Businesses. “We have taken up with GSTN and we will sign an understanding with them on how the {data can be used, specifically to reach out to lakhs of small and micro businesses ...We have had several rounds of discussions,’ MSME secretary Arun Kumar Panda told ET, “The Centre wants much more credit flow into the micro and small enterprises, wile looking to ensure more entrepreneurs, looking at starting ventures oftheir own, get access. to finance. In this regard, we have taken several decisions to address the challenges of credit and delayed payment, and may look to overhaul the public procurement policy,” ne sald The government wants to highligh the initiatives it has taken and ensure that the MSMEs. have actually benefited from those. Just a month after demonetisation was announced, the PM, in December 2016, had said that the MSME was a priority area for the goverment, announcing a three-fold increase of the credit fund meant for the sector. Officials sald the focus of the outreach will be on 115 “aspirational districts, Aspirational districts have been defined as among the most backward areas, but which have been Priortised by the Centre for the implementation of its schemes. “States will have to decide how to ao about it. But we will send our teams there and identify Top Trending Terms Sensex Murbsi Ris Roka Live Updles 170 Karataka Elton Ni Aaya Howto Save oom Tax hee Tax lbs Looking for GST Consultant? Click hereto find now MostRend Mos'Shared Most Commentos "Nobewinner Paul Krugman wars nda story could fend th mass unemployment ‘Congress plenary Ive: Name Most symbotaes ion between cony capitals & PM of a, aye Rana Pracausons must wile shaving Aadhear number cine: UIDAL ln In top executes average sat 249 umes more tan Ccuran acoount deft widens to 2% of CDP on highorot import ot htps:leconomictimes indiatimes. com/newsieconomy/pocy/minisies-poolng-data4o-account-or.envronmental-damagein-gdplarcleshow/S3780... 20722si2120%8 Ministries pooling data to account for environmental damage in GDP - The Economic Times Tach as Te WiooTold meroase MMe Cred Guaramlee fund Wo Re 7,500 crore “The problem was thatthe fund was over-leveraged. Ithas now been enhanced, which has solved the problem. Banks now have a greater comfart level that even i the loans go bad the credit fund can handle it. Also, the credit fund now can disburse loans to entrepreneurs requiring up to Rs 2 crore, instead of Rs 1 crore,” an official said, The Centre has also decided that it non-banking financial companies were wiling to finance entrepreneurs, it would extend the guarantee to them as well Ithas also increased the guarantee cover to 75% ofthe loan, apart from changing the guidelines to allow the borrower to offer partial collateral a provision that did not exist earlier. The Centre also has data of 41 lakh enterprises that fall under the MSME sector, but are ot required to pay GST. "Once we get the data, we wil look at ways to have a structured ‘way of reaching out to them, providing assistance wherever needed. We have already spoken to multipie industry associations,” an official said, ‘Apart from the Opposition, RSS affiliates have been constantly pressurising the Centre to pay more attention to the sector, and endure greater access to credit at reasonable intorast rates. Readmore on OSINaln.«—«MSMEs—=—‘baln=« STN Enramneus IT Syom Also Read (CAG protests refusal o azess to GSTN data ‘Comments ‘Ad Your Comments More from The Economic Times EY | EY EF | Ef Get Quote Browse Companies Browse Mutual Funds hps:lleconomictimesindiatimes.com/newsioconomy/poicy/minisies-poolng-data4o-account-or environmental damage-in-gdplartcleshow/53780 21122Miisries pooling data to account for environmental damage in GDP - The Economic Times CORA sr20%8 TORN) Cle uC aula Pomendy FOLLOW US Pia: cg Sas 261 | Pune irr | Sanger Nro | Ab TediyAtcent| Eaveston Tine | Sand Cia] Mamba Men Tes Now Ines | ee HERE ER mcd Ser 4H | Go Gowen | adhe I | Eiaay IGN na | Naval Saray | Tes onda | Saray Ta] Samayan Tug | Miss Kyra Bombay Times | Fumpop| renal | raaae APP “Tivescy| Diva Enleriment Zoom | Haatleeup | Lagresso | Gadget Reviews| Teanken& lsum Creat Cars| Onlne Songs | Mens Hotel | Tra Desinsons | Chebuzz| Reepes| Guana] Hapoyios | Gatsmatape Live Market raesey About Us ows Newsies Craate Your Own Ad Porto Commostios Advorio with Us Noble Speed Terms of Use & Grievance Recess Live TW Bogs Privacy poey Share Marat | OST | noomo Tax Sob | Aadhaer Cart| How to Save ncome Tx ‘ss arc PSC Code | Tix Saving Gl | Santos Ty |Niy Bank | Sontx Income Tax Caleb Karnataka Epeton 2018 Book pn | Onine shaping | Matineriall Adoagy| Jobs| ech Cory Propeny | uy oa Bae ms |F90Cestds | Send money onda | Usoe Cre | Resiaarsin Deh [Rem da | Buy Mies |Liten Sarge News | Times | Ren Etne Developers| Restaurant Gals nei Car rsronca Geagets Now | Fee SusinssLintngs|CouponDuna| Rez Tacwsdet | AlweA® | Gtemartaps App |ETMeney France #op| Feodack | Aut In Case You Missed It Karnataka Assembly Election Link Aadhar with Pan so Phone SBIIFSC Codes Stock Recommendations Income Tex Caleulator copy ©2018 htps:leconomictimesindiatimes.com/newsiaconomy/poicy/minisies-poolng-data4o-account-for-envronmental-damagein-gdplarleshow!S3780... 2222 Po How to invastin a mutual nd? lFse Code Income Tax Slabs Telangana Budget 2018 HRA Caleultor Jenne Coleman & Co Al gh etrved. 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