Category Archives: Economy

Odisha: Bhubaneswar Hosts Seminar on “Mission 1000 Startups”

Bhubaneswar: On the sidelines of MSME Trade Fair-2017 and Entrepreneurship Week being held here between March 5 to 11 in Bhubaneswar, a seminar session on “Mission 1000 Startups” was held today at the Conference Hall of IDCO Exhibition Ground. L.N. Gupta, IAS, Principal Secretary, MSME highlighted the implementation of the Startup Policy and also outlined the measures and events planned to encourage more and more startups and foster a culture of entrepreneurship in the state. He stated that we are working on sustained basis to achieve the ’Mission 1000 Startups’ by 2020.

Inaugurating the Seminar, Subroto Bagchi, Chairman, Odisha Skill Development Authority congratulated the Team Startup Odisha for the outstanding efforts toward promotion of Startup eco-system in the state. He identified the main traits of an entrepreneur and described him as someone, who has fire in the belly, courage and patience. He should have self-belief, independent thinking to serve customers, hardworking attitude, flexibility to improvise, and the ability to keep their ego aside for the sake of their business. He advised all the budding entrepreneurs to select their domain carefully, choose their tools suitably, follow appropriate methodology and should remain focussed on quality of their product or services.

Vikas Bali, MD, Intellecap said to have funded over USD 600 million across countries, including Milk Mantra in Odisha. Under the programme “Sankalp”, they have been assisting social enterprises in India, Indonesia and Kenya. He added that they search, seed, support and scale up early stage social enterprises. As regards Odisha, he announced that the Startups, who get registered under the Odisha Startup Policy, will be provided access to their virtual incubator namely, “Startup Wave”. He also announced that the best 5 Startups, who qualify for product/marketing assistance under the Odisha Startup Policy, will get focused mentoring by the Intellecap team.

Amit Singh, Co-Founder & M.D., Headstart, one of the largest grass root level organisations, supporting entrepreneurship and startups in the country, announced opening of their Headstart Entrepreneurship Chapter in Odisha during this month. Through this chapter, they would be mentoring entrepreneurs across the state. He mentioned that every year 25,000 entrepreneurs are benefitting from their services. Omkar Rai, DG, STPI said that the largest number of STPI Centres are existing in Odisha, which are in Bhubaneswar, Berhampur and Rourkela. Further, they intend opening 4 new Centres. He suggested that MSMEs and startups working in the IT and electronics sector can avail funding under the Electronic development fund of the Government of India. He assured to work closely with Govt. of Odisha to strengthen the Startup eco-system in the state.  Manish Kumar, an IITian turned Researcher-cum-Entrepreneur, who is running an organisation ‘Back 2 Village’ and working mostly on promotion of agriculture in Mayurbhanj district of Odisha, articulated his long journey as an entrepreneur and how he has enjoyed the oil that goes with it. ‘Back 2 Village’ is engaging farmers in Mayurbhanj towards adoption of best farming practices as well as assisting them towards market linkage.

ISRO’s Feat as PSLV-C37 Successfully Launches 104 Satellites in a Single Flight

New Delhi: ISRO’s Polar Satellite Launch Vehicle (PSLV-C37), in its thirty ninth flight, successfully launched the 714 kg Cartosat-2 Series Satellite along with 103 co-passenger satellites today on February 15 from Satish Dhawan Space Centre SHAR, Sriharikota. This is the thirty eighth consecutively successful mission of PSLV. The total weight of all the 104 satellites carried on-board PSLV-C37 was 1378 kg.

The PSLV-C37 lifted off at 9:28 am IST, from the First Launch Pad and after a flight of 16 minutes 48 seconds, the satellites achieved a polar Sun Synchronous Orbit of 506 km inclined at an angle of 97.46 degree to the equator (very close to the intended orbit) and in the succeeding 12 minutes, all the 104 satellites successfully separated from the PSLV fourth stage in a predetermined sequence beginning with Cartosat-2 series satellite, followed by INS-1 and INS-2. The total number of Indian satellites launched by PSLV now stands at 46.

Of the 103 co-passenger satellites carried by PSLV-C37, two – ISRO Nano Satellite-1 (INS-1) weighing 8.4 kg and INS-2 weighing 9.7 kg – are technology demonstration satellites from India.

The remaining 101 co-passenger satellites carried were international customer satellites from USA (96), The Netherlands (1), Switzerland (1), Israel (1), Kazakhstan (1) and UAE (1).

With today’s successful launch, the total number of customer satellites from abroad launched by India’s workhorse launch vehicle PSLV has reached 180.

President Pranab Mukherjee, Vice President Hamid Ansari and Prime Minister Narendra Modi in separate messages congratulated ISRO on its successful launch.

President of India, Pranab Mukherjee in a message to A.S. Kiran Kumar, Secretary, Department of Space and Chairman of ISRO said, “I extend my sincere congratulations and best wishes to you and your team at the Indian Space Research Organisation (ISRO) on the successful launch into space of PSLV – C37, carrying a record 104 satellites.

This day shall go down as a landmark in the history of our space programme. The nation is proud of this significant achievement, which has demonstrated, yet again, India’s increasing space capabilities.

Kindly convey my greetings to the members of your team of scientists, engineers, technologists and all others associated with this great mission. I urge ISRO to continue to strive for the progress of our space capabilities. I wish all your future endeavours great success.”

Vice President Hamid Ansari in his message said “I offer my congratulations to the Scientists, Engineers and Technicians of the Indian Space Research Organization (ISRO) for the successful launch of the PSLV-C37 rocket that placed 104 satellites including Cartosat 2 Series from India and 7 other counties in their designated orbits. This has been a history scripting effort of launching 104 satellites in a single launch.

The flawless launch has once again demonstrated India’s capabilities in the space sector and underlined our efforts to make the use and exploration of space more accessible and affordable.

I wish ISRO all the very best for the future.”

The Prime Minister Narendra Modi congratulated ISRO on successful launch of PSLV-C37 and CARTOSAT satellite together with 103 nano satellites.

“Congratulations to ISRO for the successful launch of PSLV-C37 and CARTOSAT satellite together with 103 nano satellites.

This remarkable feat by ISRO is yet another proud moment for our space scientific community and the nation. India salutes our scientists.

The Prime Minister also spoke to the Secretary, Department of Space and congratulated him & the entire team of scientists on today’s exceptional achievement”.

LPG Customers to get a Discount for On-Line Payment of Refill Cylinders

New Delhi: The Oil Marketing Companies, IndianOil, BPCL and HPCL offer a discount of Rs 5/- on every LPG refill to all LPG customers who will book and pay for their LPG cylinders online. Customers can make payment through existing online modes such as net banking, credit and debit cards at the time of web-booking their refills.

According to the ministry customers will get the discounted amount displayed on their screens on the net amount refill RSP minus (-) incentive amount of Rs.5/- which they need to pay for their refill transactions. The net discounted amount will also be shown on the cash memo accompanying the home-delivery of the LPG cylinder.

The Oil Marketing Companies aim to encourage consumers to increasingly shift to such payment modes through digital platforms to achieve the objective of no-cash or less-cash based transactions. The incentive will encourage more and more LPG consumers to go for cashless mode transactions.

Odisha State Plan Expenditure in Current Fiscal Increases by 21%

Bhubaneswar: In a review of the fiscal performance of the State it was determined that Plan expenditure up to November, 2016 during the current fiscal has increased around 21% over the same period of the last fiscal.

It was revealed in a meeting chaired by Chief Secretary A P Padhi and others attending the meeting include Special Secretary Finance and General Administration Ashok Meena, Principal Secretaries, Secretaries and Special Secretaries of all departments. While taking stock of of the progress the chief secretary asked to expedite implementation of the developmental projects during the current working season and complete those in scheduled time.

Development Commissioner R. Balakrishnan advised to make more use of online litigation management system for quick and timely follow up of the cases in various courts. Departments were also advised to keep watch over implementation of the flagship programmes and ensure achievement of the targets fixed for the year.

According to sources, departments were also advised to keep watch over implementation of the flagship programmes and ensure achievement of the targets fixed for the year. Data suggest that the State plan expenditure up to November, 2016 has increased to the tune of Rs. 24,408.50 crores  against total expenditure of Rs.20,228 crore during the same period of the last year thereby showing an upward trend of around 21%.

The expenditure in agricultural sector has been around Rs 6,227 crores which is more than 56% of the budget estimate. The infrastructure spending has crossed Rs.6,706 crores which is around 59% of the budgeted amount. Similarly, the social sector spending up to November, 2016 has been to the tune of Rs.10,227 crores which is around 55% of the total estimate for the year. Beating the earlier situation of low revenue collection, the collection from own tax revenue up to November, 2016 has been around Rs13,597 crores against the total collection of Rs.13,519 crores during the same period of last financial year.

There has been increase in collection of revenue from tax on vehicles, goods & passengers, electricity duty, professional tax, excise, other taxes and duties. The Collection from non-tax sources has been around Rs.4,300 cr. The total collection from both the tax and non-tax sources has been around Rs.17,896 crores up to November, 2016 against the total collection of Rs.17,967 crores during the same period of last year.

Odisha State Government to Credit 100% Argi-Insurance Money to Farmers’ Account

Bhubaneswar: Odisha Chief Secretary A P Padhi recently directed to Credit the entire argi-insurance money to the bank account of the farmers during a district wise review meeting through video conference here at the Bhubaneswar Secretariat. Padhi also wanted to ensure 100% disbursement maximum within 15 days.

Development Commissioner R. Balakrishnan also advised the banks to open parallel savings accounts of the loanee farmers within 2 to 3 days and credit the insurance money to their savings account. Also attending the meeting Principal Secretary Cooperation Manoj Ahuja appraised that this insurance claim is being given against kharif crop loss of 2015.

Notably, around 11.61 lakh farmers will be benefitted from it. A total amount of Rs. around Rs. 1,776 crores will be distributed through their bank accounts. According to sources, till date around Rs.880 crores has already been credited to account of the farmers. Padhi also advised the Collectors to keep a close watch over the situation and ensure 100% disbursement of the compensation money to account of the famers.

He also directed the collectors to review the situation on a daily basis with commercial and cooperative banks and send the updated report to Principal Secretary Cooperation through a social media platform.

Further, Chief Secretary clarified that since the agricultural loan term is up to the month of March, no bank should adjust the insurance money against the loan of current year. The non-defaulter loanee farmers up to the last year should be disbursed 100% of the insurance money.

The Collectors were also asked to ensure 100% disbursement of drought assistance against Kharif-2015. Near about Rs.83 crores would be distributed to drought affected farmers in 24 districts at the rate of Rs.100/- per quintal of paddy.

Special Relief Commissioner Pradeep Kumar Mohapatra present in the meeting also appraised that the entire money will be sourced through Secretary Central Cooperative Bank. Collectors were directed to complete the disbursement of the amount within 3 to 4 days. The Principal Secretary Finance T K Pandey, Joint Director Planning Jayanta Kumar Mishra, Principal Secretary Agriculture Monaj Kumar Ahuja, Principal Secretary Water Resources Pradeep Kumar Jena along with senior officers from concerned departments participated in the review meeting.