Spotted First Call of AIDAbella in Shanghai

first_imgAIDAbella, a cruise ship owned by German cruise line AIDA Cruises, was the first ship of the AIDA fleet to sail past Shanghai’s skyline before it docked at the International Cruise Terminal on April 2, 2017.From April 2 to 4, 2017, AIDAbella will remain in Shanghai where AIDA Cruises is performing its turn-around operations for the first time.Having come to Shanghai from Thailand, the 69,203 gross ton AIDAbella will set its course for Japan and Taiwan on April 4, continuing on to Hong Kong and Vietnam, and will then sail to Singapore.After its season in Asia, AIDAbella will spend the summer in the Nordic region.The cruise industry has grown rapidly in China with outbound passenger numbers hitting a record high in 2016.Meanwhile, the number of overseas cruise tourists visiting Chinese ports has also increased by 8 percent to 277,430 in 2016. According to the China Cruise & Yacht Industry Association (CCYIA) report, Chinese ports served 83 visiting cruises in 2016, with Shanghai topping the list with a total of 28 stop-offs.Image Courtesy: AIDA Cruiseslast_img read more

UKs Dependence on Shipping to Grow amid Brexit Talks

first_imgzoom The UK’s attention is switching to the future role of its ports, harbours and seafarers, which is expected to gain importance as the nation launches Brexit talks.The focus is turning to a rise in world trade, which is likely to increase the 95% of imports and exports that currently pass through UK’s sea ports. This is coupled with the continued growth of merchant ships, in terms of size, and the UK’s dependence on imported oil, gas and biofuel.Additionally, the nation’s passenger numbers on cruise ships and ferries look set to continue to grow, albeit with industry concerns voiced about the need to retain agreeable border control relationships with UK’s European neighbours.“As so often in our history when facing political and international pressures, our relationship with the sea provides the strong and enduring stage from which our island and its people can make their mark, whether in trade, defence or diplomacy,” Commodore Barry Bryant, Director General of Seafarers UK, said.“Our unique situation and the quality of our maritime offerings in seafaring people, port and supply chain operations and financial services remains second to none and give us a strong negotiating hand,” Bryant added.Commenting on UK’s future customs and trading arrangements, Mark Simmonds, the British Ports Association’s Policy Manager, said that the new customs arrangements should prioritise trade facilitation and look to replicate the benefits of the EU Customs Union.UK ports support 344,000 jobs ashore, handling almost 500 million tonnes of freight and more than 60 million passengers every year, according to Maritime London.last_img read more

Samsung Heavys Income Down by 82 Pct

first_imgzoom South Korean shipbuilder Samsung Heavy Industries saw its earnings drop in the third quarter of 2017, mainly due to deliveries of low-priced vessels and a decrease in orders.The shipbuilder’s net income for the three-month period ended September 30 plunged by 82 percent to KRW 23.4 billion (USD 21 million) from KRW 128.6 billion (USD 115.5 million) reported in the same period a year earlier.The company ended the quarter with an operating profit of KRW 23.6 billion, against an operating profit of KRW 84.1 billion, representing a drop of 72 percent year-on-year.During the quarter, SHI’s sales were down by 37 percent to KRW 1.75 trillion, compared to KRW 2.77 trillion reached in the same three months in 2016.In mid-2017, Samsung Heavy Industries (SHI) unveiled its self-rescue plan, under which it would undertake workforce cuts through an early retirement scheme, and seek from its executives to return part of their salaries.Although the exact number of workforce which would be reduced this year was not unveiled, the shipbuilder is expected to slash a total of 5,000 jobs by 2018, of which it already cut 1,500 during 2016.On the back of a drop in new orders, SHI was forced to shut down some of its floating docks. The shipbuilder, which operates eight docks, including four floating docks, reportedly closed one of its three on-road docks in June and was planning to stop operations at another one in late July.Samsung Heavy Industries earlier informed that it expects to end the year with some USD 6.2 billion worth of orders, slightly less than its 2017 goal of USD 6.5 billion.World Maritime News Stafflast_img read more

Frontline Bullish on Tanker Rates despite Q2 Loss

first_imgzoomIllustration; Image Courtesy: Pixabay under CC0 Creative Commons license Market woes stemming from weak freight rates have pushed oil tanker shipping company Frontline into a loss of USD 22.9 million in the second quarter of 2018.Frontline said that the average spot time charter rates for the three months ended June 30, 2018 were USD 17,000 for ECO VLCCs and USD 13,200 for VLCCs younger than 15 years.Nevertheless, Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS, believes better days are ahead for tanker rates.“The factors supporting our expectation include continued scrapping ahead of 2020 offsetting new deliveries and increased demand for seaborne trade as a result of expected growth in both US exports and OPEC production of crude oil.  Additionally, crude oil demand remains strong, and the end of the inventory draw cycle seems increasingly inevitable,” he said.The global crude oil tanker fleet was expected to grow by 8.3 pct in 2018, with 57 VLCCs scheduled for delivery. However, only 24 have been delivered so far, and it is likely that some deliveries will be delayed into 2019, Frontline said in its market outlook comment.On the other hand, 25 VLCCs have been scrapped so far and an additional 14 VLCCs have been sold for near-term scrapping. The company believes that weak freight market and high scrapping prices will continue to entice owners to continue scrapping older vessels.Taking into account that 20 percent of the existing VLCC fleet is over 15 years of age, which are likely candidates for scrapping, the fact that the current VLCC orderbook equals approximately 15.8 pct of the global VLCC fleet, is not worrying, the shipping company estimates.“If the pace of scrapping continues, we estimate that the global VLCC fleet will see negative growth in 2018. (…) As we have stated previously, older vessels are less desirable to charterers and earn a discount compared to newer, more fuel-efficient vessels,” Frontline said.In preparation for the new regulation coming into force in 2020, Frontline announced in June that it had inked a deal to acquire a 20 pct ownership interest in FMSI, a scrubber manufacturer. The move secures Frontline the capacity to source a large volume of scrubbers.“We will continue to look for the right investment opportunities to further position the company for the expected recovery,” Macleod added.last_img read more

Equinor Pens LPG Storage Deal with GPS

first_imgzoomIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license Norwegian energy company Equinor has inked a long-term deal with Singapore-based storage provider Global Petro Storage (GPS) for a terminal and storage of liquefied petroleum gas (LPG) volumes in Port Klang in Malaysia.Under the terms of the deal, GPS will build a new facility with startup of operations planned for mid-2021.Equinor will bring LPG to the terminal and sell into the domestic market in Malaysia as well as selling volumes to markets like Bangladesh, the Philippines, India, Indonesia and Vietnam.“Malaysia is an attractive market and we believe that we will be a competitive supplier to the wholesalers of LPG into the domestic market. The terminal and storage are also strategically located for blending and selling to other growing markets in the region,” says Molly Morris, vice president for Products and Liquids in Equinor ASA.“We will source LPG from the North Sea, North Africa, the Middle East and Australia and utilize the opportunities the terminal and storage and our shipping positions give us to create value and strengthen our competitiveness,” Morris added.According to Giuseppina Ragone, vice president for Manufacturing and Storage in Asset Management, the storage offers Equinor considerable flexibility as it can receive gas tankers of all sizes.“We can choose if we want to blend and prepare smaller quantities to deliver into the domestic market or other countries in the region, depending on which is most attractive. This way, active use of our assets can add value to our LPG business and be a long-term basis for value creation,” Ragone said.As part of the agreement, Equinor will have an option to acquire an ownership share of the new storage and terminal, where Equinor will be the only user.last_img read more

Provincial Traffic Advisory Update

first_imgThe Department of Transportation and Public Works is advisingmotorists that visibility on 100-series highways around theprovince is extremely low. High winds and blowing snow aremaking driving conditions hazardous. The section of Highway 104 from the Nova Scotia border nearAmherst to Glenholme is closed overnight until about 6 a.m.Barricades are in place. Snow plows are not operating on Highway 101, from MountUniacke to Bear River, until conditions improve — possiblyafter midnight. -30-last_img read more

Crime Prevention Task Force Releases Report

first_imgA number of ideas to address and prevent crime were released in a final report today, May 23, by the Minister’s Task Force on Safer Streets and Communities. The report is the result of provincewide consultations and will be used to help government develop a provincial crime prevention strategy. “Task force members have done a tremendous job of reaching out to their fellow citizens,” said Murray Scott, Minister of Justice. “This information will be critical to creating a community based crime prevention strategy that reflects the needs and wants of our communities.” Key issues identified during consultations include the impact of youth crime and the need to ensure youth feel attached and involved in their school and communities. Participants said changing social values were contributing to crime, and need to be addressed through improved access to services, along with support to help parents supervise and appropriately discipline their children. Limitations of the Youth Criminal Justice Act were also identified as an issue. “During consultations we heard very personal stories from people whose lives were touched by crime, along with those who were playing an active role in preventing crime in their communities,” said Oralee O’Byrne, co-chair of the task force. “While we know that there is not a single solution, it is clear that we need to balance prevention with enforcement measures that help people feel safe.” The task force identified actions to both prevent and address crime. Among the recommended priorities are enhancing early intervention programs; improved access to recreation facilities; funding for community crime prevention groups; addressing racism; adding police officers; and stiffer sentencing. “People want to play an active role in preventing crime, but they need the right supports to help them make their communities safer,” said task force co-chair and Halifax Regional Police Chief Frank Beazley. “This report helps set a direction and calls for action by individuals, community leaders, organizations and all levels of government. We did not do this just to point out problems — we wanted to get at the solutions and the community has really responded.” The Minister’s Task Force on Safer Streets and Communities included 25 volunteer community members who held 44 meetings across the province in February and March. Through these meetings and written submissions the Task Force heard from more than 800 Nova Scotians, and also received more than 2,000 hits to its website. The report can be viewed online at www.gov.ns.ca/just .last_img read more

18 Million to Help Unemployed Older Workers

first_imgAlmost 200 unemployed older workers across the province will receive help finding work, thanks to a new program called the Targeted Initiative for Older Workers. A joint investment of $1.8 million was announced today, Oct. 11, by Education Minister Karen Casey and MP Gerald Keddy, on behalf of Monte Solberg, federal Minister of Human Resources, in support of the older worker initiative. “An aging population is causing the workforce in Nova Scotia to change, and our government is committed to providing educational resources to assist older workers through these changes,” said Ms. Casey. “Our older workers are a valuable resource, and this program supports our efforts in providing them with the support they need to obtain and upgrade their skills.” The first 13 projects funded under the program will be delivered by organizations across the province who support older workers. The support will include employment-assistance activities, essential-skills upgrading, preparation for self-employment and work experience. “Government has made a commitment to creating the best-educated, most-skilled and most-flexible workforce in the world,” said Mr. Keddy. “Because there is currently a worker shortage in Canada, we cannot, and must not, overlook the experience of older workers. With active support, these workers will continue to make an important contribution to their communities.” The initiative also supports the efforts of existing programs such as Nova Scotia’s Age Advantage Initiative. This program was designed to help displaced and unemployed older workers navigate life and work changes. The Targeted Initiative for Older Workers is a $70-million federal commitment that provides programming until March 31, 2009. Under this initiative, the provinces and territories that choose to participate have responsibility for identifying vulnerable communities and project design, and delivery. The participating provinces and territories then work with organizations in affected communities to develop projects. “At NSCC, we welcome and support learners and industry partners of all ages, cultures, career backgrounds and aspirations,” said Joan McArthur-Blair, president of the Nova Scotia Community College, which received funding under the initiative. “Diversity is an essential contributor to our province’s prosperity. Older workers contribute great knowledge and experience to the success of our economy, and they serve as role models for the next generation of industry leaders.” The program is part of the government of Canada’s two-part strategy for assisting older workers. In addition to this initiative, an expert panel on older workers has been appointed to study labour-market conditions affecting older workers. The panel is looking at other potential measures to help older workers, including improved training and enhanced income support. The initiative for older workers offers programming to meet the immediate needs of unemployed older workers pending the outcome of the study. For more information see the website at www.olderworker.ca .last_img read more

Trail Bridges Closed

first_imgFour bridges on an abandoned railway corridor in Kings County have been temporarily closed for safety reasons. The affected bridges are located at Spidle Brook, Sharpe Brook, Graves Brook and McGee Brook. Barricades will be put in place as soon as possible and signs placed to warn of the closures. The bridges will remain closed until all necessary repairs can be completed. Two groups — Cornwallis River Pathways Society and Kings County Trails Society — are working with the departments of Natural Resources and Health Promotion and Protection to upgrade different sections of the Kings County railway corridor for recreational trails. Engineers have examined these structures and have determined that all four bridges should be closed immediately to all users until necessary repairs and replacements can be made. -30-last_img read more

Human Swine Influenza Update April 29

first_imgNOTE TO EDITORS: A media line has been established and will be monitored daily, including weekends, from 8 a.m. to 8 p.m. This will help to better manage calls and expedite our response to media. The number is 902-424-0499. As of today, April 29, no new confirmed cases of human swine influenza have been reported. To date, four cases have been confirmed in Windsor, Hants Co. It is important to remember that daily activities should continue as normal. It is safe to go to school, work and socialize, as long as you do not have any symptoms. Cases in Nova Scotia have been mild, and we are not seeing severe cases like those being experienced in Mexico. We expect to see more cases. As with regular influenza, once those numbers increase, it is normal to see more severe cases and even deaths. The Department of Health Promotion and Protection will continue its surveillance efforts across the province using established public health practices and protocols. Any additional cases which arise will also be thoroughly investigated. Nova Scotians should know the Public Health Agency of Canada has issued a travel health warning for Mexico. Canadians are advised to postpone non-essential travel to Mexico until further notice. Those who have to go, and have not received a flu shot, are advised to get one. If you have traveled recently to an area affected by human swine influenza, like Mexico, and have influenza-like symptoms, you should stay home from work, school, public places and avoid social settings. Like any illness, should your symptoms worsen visit your doctor or a walk-in clinic. Avoid close contact with others for seven days after your symptoms started, as this is the time when the illness can be spread to others. -30-last_img read more

Cape Breton Region Receives Recreation Funding

first_imgRecreation facilities in the Cape Breton region will receive about $726,000 through 13 grants announced today, June 16, under the Recreation Facility Development Program. Deputy Premier Frank Corbett made the announcement on behalf of Maureen MacDonald, Minister of Health Promotion and Protection. “The government supports organizations and recreation facilities that help Nova Scotians lead healthier, more active lives,” said Mr. Corbett. “We are providing $2.94 million for projects across the province that will help families in every region get fit and have fun. That is the right decision for Nova Scotians.” Under the Recreation Facility Development Program, the grants will be used to renovate facilities, develop and maintain walking trails, and build and upgrade various fields and buildings used for sport and recreation. The program assists community groups, municipalities and other not-for-profit organizations develop facilities to increase public participation in sport and physical recreation. The Cape Breton grants were announced at the BAYplex in Glace Bay. This facility received $99,936, to build two dressing rooms. “This grant will help to enhance the BAYplex facility,” said Clarence Routledge. “In particular, it will enhance the accommodations for female hockey, which has continuously been increasing over the years.”last_img read more

Demandes acceptées au programme de bons pour la productivité et linnovation

first_imgUn plus grand nombre de petites entreprises à l’échelle de la Nouvelle-Écosse auront l’occasion de devenir plus productives et innovatrices grâce au programme amélioré de bons pour la productivité et l’innovation. Le programme, qui est en place depuis cinq ans, accepte maintenant les demandes des entreprises. « Dans le cadre du plan ‘des emplois ICI’ pour la croissance de notre économie, nous avons investi environ 25 millions de dollars à l’appui de près de 300 entreprises néo-écossaises afin de les aider à devenir plus productives et innovatrices grâce à des initiatives telles que ce programme de bons », a dit John MacDonell, ministre par intérim du Développement économique et rural et du Tourisme. « Avec ces bons, les petites entreprises seront en mesure d’obtenir des conseils et des services des établissements universitaires afin de devenir plus innovatrices et productives. » Le programme offre aux entreprises une aide financière pouvant s’élever à 15 000 $ pour avoir accès aux conseils des établissements universitaires dans des domaines tels que la recherche appliquée, les services d’ingénierie, le prototypage, la conception de produits et les essais sur chantier. Au cours des quatre dernières années, 152 entreprises ont reçu ces bons. « Le fait de pouvoir travailler avec Mme Mei-Ling Wei de l’Université Saint Mary’s et de faire partie du programme a été une expérience d’apprentissage incroyable », a dit Jennifer Laughlin, copropriétaire de Schoolhouse Gluten-Free Gourmet, une entreprise qui crée des aliments frais sans gluten et qui les vend dans les marchés des fermiers, les magasins de vente au détail, les cafés et les restaurants. « Le bon nous a permis d’effectuer de la recherche sur le développement de produits et d’effectuer une évaluation auprès de nos clients, ce qui a été très utile. Ce programme est une excellente ressource pour la communauté des petites entreprises. » Cette année, une deuxième série de bons a été ajoutée après un projet pilote fructueux l’année dernière. Des bons d’une valeur maximale de 25 000 $ sont offerts aux entreprises qui ont déjà reçu des bons dans le cadre du programme afin de leur permettre de miser sur les progrès réalisés grâce à leur premier bon. Six de ces bons ont été accordés à des entreprises l’année dernière dans le cadre du projet pilote. Cette année, le gouvernement provincial a augmenté le financement du programme, qui est passé de 650 000 $ à 900 000 $. « Nous participons au programme depuis le tout début, et nous sommes d’avis qu’il s’agit d’un catalyseur très important qui permet l’engagement des chercheurs auprès de l’industrie, a dit Gina Funicelli, directrice des liaisons avec l’industrie à l’Université Saint Mary’s. Le programme est efficace parce qu’il offre une occasion unique aux propriétaires de petites entreprises d’avoir accès à des experts spécialisés dans les universités et les collèges pour les aider à résoudre rapidement les problèmes brûlants. » Les universités et les collèges qui participent au programme sont les suivants : Université Acadia, Université Cape Breton, Université Dalhousie, y compris l’ancien Collège d’agriculture de la Nouvelle-Écosse, Université Mount Saint Vincent, Nova Scotia College of Art and Design, Nova Scotia Community College, Université Saint Mary’s, Université St. Francis Xavier et Université Sainte-Anne. Les entreprises qui souhaitent présenter une demande peuvent obtenir plus d’information au www.gov.ns.ca/econ/pnivouchers (en anglais seulement). La date limite pour la présentation des demandes pour la première série de bons est le 5 octobre, et pour la deuxième série, le 12 octobre.last_img read more

Television and Miniseries Supported

first_imgFunding commitments to five applicants have been made through the Eastlink TV Independent Production Fund Program. Applications were received between Sept. 22 and Oct. 14, 2016, and were decided upon by the Nova Scotia Independent Production Fund’s board of directors. Funding commitments totaling $755,000 have been approved for the following projects: TV series Addison season 1, produced by Edison Productions Inc., $145,000 TV series Inspector Gadget season 3, produced by DHX – Inspector Gadget Productions 3 Inc., $195,720 TV series Mr. D season 6, produced by Mr. D S6 Productions Limited, $195,720 TV series Pure season 1, produced by Pure Season 1 Inc., $114,180 Miniseries Studio Black! season 2, produced by Studio Black Productions Ltd., $104,380 -30- Quick facts: The eligibility criteria for the program was designed to ensure maximum employment and growth in the Nova Scotia television industry. In order to qualify for funding, the production must meet the eligibility requirements of the Nova Scotia Film and Television Production Incentive or the Nova Scotia Digital Animation Tax Credit. The competitive selection process established by the Nova Scotia Independent Production Fund has two stages: first there is a staff review, which is followed by a board of directors’ judging. All final funding decisions are made by the board of directors of the Nova Scotia Independent Production Fund. last_img read more

Board Rules in Favour of Insurance Coverage for Medical Marijuana

first_imgAn independent human rights board of inquiry has ruled that Gordon (Wayne) Skinner’s medical marijuana expenses are to be covered by his employee insurance plan. Mr. Skinner, of Head of Chezzetcook, Halifax Regional Municipality, argued that he faced discrimination in accessing insurance coverage based on his disability. Benjamin Perryman, the board chair, issued his decision on Jan. 30. Mr. Skinner suffers from chronic pain following a motor vehicle accident when he was an elevator mechanic with ThyssenKrupp Elevator Canada. He has been unable to work and medical marijuana had helped his condition over conventional treatment for pain relief. The respondents in the case, the board of trustees of the Canadian Elevator Industry Welfare Trust Fund, had denied Mr. Skinner’s coverage in May 2014. The Canadian Elevator Industry Welfare Trust Plan provides health and related benefits for employees and former employees like Mr. Skinner, working in the unionized sector of the elevator industry. Mr. Perryman concluded that the plan includes conditions and rules for the coverage of medical marijuana as an eligible expense. For example, since medical marijuana requires a prescription by law, it did not fall within the plan’s exclusions. Since medical marijuana was prescribed for pain management, it was accepted that it is a medical necessity and should be covered. Conventional prescription pain management drugs are normally eligible for coverage. Mr. Skinner’s medical marijuana expenses must now be covered by the Canadian Elevator Industry Welfare Trust Plan up to and including the full amount of his most recent prescription. The reimbursement will only be required where medical marijuana was purchased from a producer licensed by Health Canada or a person legally authorized to produce for Mr. Skinner under the Access to Cannabis for Medical Purposes Regulations. The claim must also be supported by an official receipt. To read the full decision, please visit: http://humanrights.novascotia.ca. FOR BROADCAST USE A Nova Scotia man who complained that he faced discrimination by his insurance plan based on his disability, will now have his medical marijuana expenses covered. Gordon (Wayne) Skinner, of Head of Chezzetcook, Halifax Regional Municipality, had a motor vehicle accident while working as an elevator mechanic. He had been denied coverage for medical marijuana, even though it relieved his chronic pain symptoms over conventional treatments. Independent human rights board of inquiry chair Benjamin Perryman ruled that the Canadian Elevator Industry Welfare Trust Plan’s contents supported a strong argument for medical marijuana as an eligible expense. Mr. Skinner’s expenses are to be covered up to and including the full amount of his most recent prescription. -30-last_img read more

New Secure Drivers Licence and Photo ID Cards

first_img Nova Scotia driver’s licence and photo ID cards will soon be better protected against identity theft, fraud and forgery. Nova Scotia and the three other Atlantic provinces, are introducing a new, highly secure driver’s licence and photo ID card. Starting in November, the cards will be printed at a central facility shared by all four provinces and mailed to clients within 14 days. “The main reason for this change is to protect Nova Scotians against identity theft and fraud,” said Lloyd Hines, Minister of Transportation and Infrastructure Renewal. “These changes will help us keep pace with the latest security and technology advances, and bring us in line with the rest of the country.” Nova Scotians do not need to get a new licence or photo ID card until their current one is up for renewal. Since the cards will no longer be printed at Access Nova Scotia Centres and Registry of Motor Vehicles offices, clients renewing their licence will be given a 30-day temporary document to use until their new licence arrives. There will be a strict review process before cards are issued to help prevent fraud and identify theft. Highly advanced, anti-counterfeiting security features will also help ensure they cannot be copied using new printing technologies. “As Nova Scotia’s provincial police, the RCMP is pleased to see any initiative that decreases opportunities for fraudulent activity,” says Chief Superintendent Marlene Snowman, Nova Scotia RCMP Criminal Operations Officer. “Police officers often rely on the validity of licence information for a variety of reasons so these changes will make a positive difference for frontline officers across the province.” Access Nova Scotia will start to move to the new process for driver’s licences and photo ID cards next month with full implementation expected to be in place by the end of December. In December 2016, the four Atlantic provinces awarded Gemalto, a world leader in digital security, a five-year contract to produce and mail the driver’s licences and photo ID cards. There is no fee increase for the new driver’s licence and photo ID card. The new cards will be implemented over the next five years as driver’s licences expire. For more information, visit www.novascotia.ca/driverslicence . TRANSPORTATION/INFRASTRUCTURE RENEWAL/SERVICE NOVA SCOTIA–New Secure Driver’s Licence and Photo ID Cardslast_img read more

Economy to grow 7 in FY20 Survey

first_imgNew Delhi: The government Thursday projected the country’s GDP growth for 2019-20 at 7 per cent, up from a five-year low of 6.8 per cent, on the back of an anticipated pickup in investment and consumption.According to the Economic Survey 2018-19, tabled by Finance Minister Nirmala Sitharaman in Parliament, India continues to remain the fastest-growing major economy in the world in 2018-19, despite a slight moderation in its gross domestic product (GDP) growth from 7.2 per cent in 2017-18 to 6.8 per cent in 2018-19. Also Read – Balakot strikes show major shift in govt’s handling of terror attacks: IAF chief”India’s growth of real GDP has been high with an average growth of 7.5 per cent in the last five years (2014-15 onwards). The economy grew at 6.8 per cent in 2018-19, thereby experiencing some moderation in growth when compared to the previous year,” it said. This moderation in growth momentum is mainly on account of lower growth in agriculture, trade, transport communication and services related to broadcasting among others, it said. During the last five years, India’s economy has performed well, it said, adding that the government has ensured that the benefits of growth and macroeconomic stability reach the bottom of the pyramid by opening up several pathways for trickle-down. Also Read – Pak activated 20 terror camps, 20 launch pads along LoC”To achieve the objective of becoming a USD 5-trillion economy by 2024-25, as laid down by the Prime Minister, India needs to sustain a real GDP growth rate of 8 per cent,” it said. As per the survey, GDP growth for the year 2019-20 is projected at 7 per cent, reflecting a recovery in the economy after a deceleration in the growth momentum throughout 2018-19. “The growth in the economy is expected to pick up in 2019-20 as macroeconomic conditions continue to be stable while structural reforms initiated in the previous few years are continuing on course. However, both downside risks and upside prospects persist in 2019-20,” it said. The survey, meanwhile, retained the fiscal deficit at 3.4 per cent of the GDP for the current fiscal, the same as projected in the revised estimate of the interim Budget 2019-20. However, the general fiscal deficit – centre and states combined – has been pegged at 5.8 per cent in 2018-19, down from 6.4 per cent in the previous fiscal. The current account deficit (CAD) in the economy increased from 1.9 per cent of GDP in 2017-18 to 2.6 per cent in April-December 2018. “The widening of the CAD was largely on account of a higher trade deficit driven by a rise in international crude oil prices (Indian basket). The trade deficit increased from USD 162.1 billion in 2017-18 to USD 184 billion 2018-19,” it said. Prime Minister Narendra Modi Thursday tweeted: “The EconomicSurvey2019 outlines a vision to achieve a $5 trillion economy. It also depicts the gains from advancement in the social sector, adoption of technology and energy security. Do read!” See insidelast_img read more

Over 14800 foreignfunded NGOs deregistered in last 5 yrs says govt

first_imgNew Delhi: The government in the last five years has deregistered over 14,800 NGOs which were registered under the Foreign Contribution Regulation Act (FCRA) and had been receiving funds from abroad, the Lok Sabha was told Tuesday. Replying to a written question, Union minister of state for home Nityanand Rai said the registrations were cancelled because the NGOs committed violations of the provisions of the FCRA. Rai also said Rs 16,894.37 crore foreign contribution has been received by various NGOs in 2017-18, Rs 15,343.15 crore foreign contribution was received by them in 2016-17 and Rs 17,803.21 crore in 2015-16.last_img read more

Vectorborne diseases Harsh Vardhan kicks off campaign to raise awareness

first_imgNew Delhi: Health Minister Harsh Vardhan on Wednesday kick-started the South Delhi Municipal Corporation’s three-day-long drive to raise awareness about vector-borne diseases like dengue and malaria, from Hauz Khas in South Delhi.Vardhan said while the number of dengue and malaria cases have been considerably low in the last few years, estimates show that the numbers might increase this year. However, he added that there is no need to panic because most of the cases are treatable from home and only a few of them become serious enough for hospital attention. Vardhan said that extra efforts of dengue breeding checkers will certainly bring positive results in making Delhi free from these diseases; hence, the role of the DBCs will become valuable and substantial.last_img read more