J & K

Govt may terminate power project contract with Ircon

The state government is likely to terminate its contract with Ircon International Limited for the execution of the much-hyped and controversial Restructured Accelerated Power Development Reforms Programme due to the firm’s failure to meet the deadlines of the project.

The government is expected to engage another company to execute the remaining portion of the project after the expiry of the March 31 deadline set by it. Despite several extensions since 2015, Ircon had completed only 60 per cent of the works in Jammu. Confusion prevails over what will be the fate of localities where the project is yet to start or has been abandoned midway.

Sources said there was a growing discord between the Power Development Department and Ircon International Limited over the implementation of Centrally sponsored projects aimed to revamp electricity distribution network in J&K as both are blaming each other for the failures.

From the start, the Rs 1,700-crore project ran into controversy and became a symbol of poor execution and administrative mismanagement since it was initiated in 2013-14 and was to be completed by end of 2015.

The Power Development Department, too, is under the scanner for providing wrong load assessment data of localities where the works were executed resulting in overloading of cables and equipment. Delay in allotment of land for the construction of two important substations in Jammu (Shakti Nagar and Green Belt park, Gandhi Nagar) also delayed execution of the project components.

INTERNATIONAL

· European Development Bank Approves Indias Membership

India is all set to become the 69th member of the European Bank for Reconstruction and Development (EBRD)after shareholders of the international financial institution gave their nod to the country’s candidature.
The formal membership process will now get underway, which includes the purchase of shares by India at an estimated cost of around 1 million euros.
The EBRD’s Board of Governors, which represents all the existing shareholders of the UK-based bank, voted in favor of India’s membership application.

· Forbes Billionaires List 2018: Amazon’s Bezos Richest, Mukesh Ambani Ranked 19

With a fortune worth $110 billion, Amazon founder Jeff Bezosis the world’s richest man and tops a 2018 Forbes Magazine list of billionaires. According to the Forbes, Bezos is the first person to top $100 billion as number one on the Forbes list of the World’s Billionaires.
Microsoft founder Bill Gates is second ($90 billion), investment guru Warren Buffet third ($84 billion), Bernard Arnault and family fourth ($72 billion), and Facebook founder-CEO Mark Zuckerberg fifth ($71 billion). Indian industry titan Mukesh Ambani, the chairman of Reliance Industries Limited, is 19th on the list. He’s valued at $40.1 billion.

· Indian Military Ranked 4th Strongest In World, USA Tops

Out of 133 countries, India is ranked fourth on a global index for its military strength, only the United States, Russia and China are ranked above India on the list, according to the latest report of the Global Firepower index 2017.
Neighbouring Pakistan is ranked 13th. India maintained its position above France in the top five military powers in the world.
The Indian Army is equipped with 4,426 combat tanks, 6,704 armored fighting vehicles, and 7,414 towed artillery guns, as per the list.
The Top 5 countries in the list are-
The USA,
2. Russia,
3. China,
4. India,
5. France.

· Iraq overtakes Saudi Arabia as Indias biggest Oil Supplier

Iraq overtook Saudi Arabia to become India’s top crude oil supplier by supplying 38.9 million tonnes (MT) crude oil in the current financial year.
It was fifth of India’s oil needs. India is 80% dependent on imports to meet its oil needs. India had imported 184.4 MT of crude oil during April.
Saudi Arabia traditionally has been India’s top oil source but Iraq dethroned it. Saudi Arabia supplied 30.9 MT of crude oil in first 10 months.

NATIONAL

· Neiphiu Rio appointed as Nagaland Chief Minister

Nagaland Governor PB Acharya appointed Neiphiu Rioas the new Chief Minister of the state.
Rio will replace TR Zeliang. The Governor has received letters of support in favor of Rio from MLAs of BJP, JD (U) and an Independent besides NDPP legislators.
Rio will take the oath of his duties shortly.
The Governor also requested Mr. Rio to prove his majority on the floor of the House on or before 16th of March.

· Animal Welfare Board of India headquarters shifted from Chennai to Ballabhgarh

The Government shifted headquarters of Animal Welfare Board of India (AWBI)to Ballabhgarh in Faridabad District of Haryana from Chennai, Tamil Nadu.
It was shifted after consultation with AWBI for better coordination between the Environment Ministry and AWBI for carrying out the animal welfare act.
The Rule 3 of the Animal Welfare Board (Administrative) Rules, 1962 mentions that the headquarter of AWBI shall be at New Delhi or at such other places.
AWBI is a statutory advisory body established in 1962 under Section 4 of The Prevention of Cruelty to Animals Act, 1960.
It frames a range of rules on how animals ought to be humanely treated everywhere. It has also frequently litigated to have stricter laws.

· India’s 1st Helicopter Taxi Service Launched In Bengaluru

India’s first helicopter taxi service was launched in Bengaluru to fly passengers from Kempegowda International Airport to Electronic City.
The service is expected to reduce the time taken to cover the distance from 2 hours to 15 minutes.
The helicopter will seat up to six people apart from the pilot and the service will cost Rs3,500 plus GST.

· Five thousand Six Crore Sanctioned Under Swadesh Darshan Scheme And Rs. 687.92 Crore Under PRASHAD Scheme

A total amount of 5638.87 crorewas sanctioned with the release of Rs. 2148.17 crore since 2014-15 till date under the Swadesh Darshan Scheme of Ministry of Tourism.
Under the Swadesh Darshan scheme, thirteen thematic circuits have been identified for development.
Meanwhile, under the PRASHAD scheme, 23 projects have been sanctioned to 15 States for a total amount of Rs.687.92 crore with the release of Rs.241.28 crore since 2015-16 till date.
The main objective of the ‘National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASHAD)is of holistic development of identified pilgrimage and heritage destination.

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