ssue of sugarcane pricing aggravating
The issue of sugarcane pricing is moving towards becoming a major crisis with farmers demanding a higher price for their produce and millers reluctant to give in to their demand. After the Centre asked the state governments to resolve the matter, the Uttar Pradesh government asked millers to begin crushing by December 4, 2013 or face action.
Normally, crushing starts in October-November, but this year the “cash-starved” millers have decided not to crush, arguing that they cannot pay farmers the State Advised Price of Rs. 280 a quintal on account of surplus stocks and decline in sugar prices.
Although the UP government filed FIRs against four millers and threatened to act against those who have not cleared arrears, it agreed to consider the demand for linking the State Advised Price of sugarcane with sugar prices and announced a high-powered committee, headed by the Chief Secretary, to come up with a permanent cane price formula from the next sugar season (2014-15).
What is the ongoing issue of sugar cane pricing?
Sugarcane cultivating farmers are demanding better prices for their cane produce as the its prices have been declining. The demands are from the farmers of a number of states of the country like UP, Maharashtra, Karnataka etc. In UP, the government has suggested the millers to pay State Advised Price of Rs. 280 a quintal but the millers are not ready to pay more than Rs. 225 a quintal.
The situation is quite similar in Maharashtra where farmers have given an ultimatum to the state government for its failure to declare better prices for the crop, failing which the farmers have said they will organize a 48-hour bandh. They have demanded the government to announce Rs. 3000 as Minimum Support Price (MSP) for sugarcane this year.
RBI relaxes group limit for NBFCs in insurance joint ventures
RBI has decided to consider a case-to-case basis relaxation of the 50% group limit norm for NBFCs (Non-Banking Finance Companies) in the equity of insurance joint venture (JV).
As per the norms of IRDA (Insurance Regulatory and Development Authority), if an insurance company wants to enhance its capital it has to do be in compliance with the stipulations of the Insurance Act and the solvency requirements of the insurance company. As per these rules, the current restriction of a group limit of the NBFC to 50% of the equity of the insurance JV which, according to the RBI, may act as a hindrance for the insurance company in satisfying the requirement of IRDA.
Under the current guidelines, if more than one company (irrespective of doing financial activity or not) in the same group of the NBFC intends to acquire a stake in the insurance company, the contribution by all companies in the same group have been counted for the limit of 50% equity investment in the insurance JV.
Keeping this in view, the RBI has decided that in cases where IRDA issues call for capital infusion into the insurance JV, it will consider need-based relaxation of the 50% group limit on case-to-case basis.
Apex court asks Parliament to amend law regarding live-in relationships
The Supreme Court has asked Parliament to introduce appropriate amendments to the Protection of Women from Domestic Violence Act, or enact a suitable legislation so that women and children born out of live-in relationships are protected, though those types of relationship might not be a relationship in the nature of a marriage.
As per apex court, children born out of such relationships suffer the most, which calls for bringing in remedial measures by the Parliament, through proper legislation.
According to court, though live-in relationship has not been accepted in India, it is neither illegitimate nor a sin. It further said relationship as a concubine, though not a relationship in the nature of a marriage, may at times, deserves protection because that woman might not be financially independent, but the DV Act, in its current form, is not concerned about such relationships which may perhaps necessitate an amendment of the definition of Section 2(f) of the DV Act, which is restrictive and exhaustive.
What was the case in point?
The apex court bench was hearing a case in which the appellant (female) had a live-in relationship with the respondent (male) who was already married with two children. She maintained the relationship for about 18 years and claimed maintenance amount under the DV Act. A trial court awarded Rs. 18,000 a month and this was upheld by a sessions court. However the Karnataka High Court set aside the order. The present appeal is directed against this ruling. The SC quashed the appeal and denied to interfere with the High Court order since the appellant was aware that the respondent was married when the relationship began.
While the court held that if it granted the relationship between the appellant and the respondent the status in the nature of a marriage, it would be an injustice to the legally wedded wife and children who opposed that relationship, it also pointed out that as a consequence of this, any act, omission or commission or conduct of the respondent in connection with that type of relationship, would not amount to ‘domestic violence’ under Section 3 of the DV Act.”
India indicates plans to develop Chah-bahar port in Iran
ndia conveyed its plan to Iran towards developing Chah-bahar port there that would ensure connectivity with Afghanistan and Central Asia even though the recent Iran-P5+1 interim deal has not reached a decisive point.
The development of Chah-bahar port — around 80 km away from Pakistan’s Gwadar port- has been affected by the uncertainty of sanctions on Iran and Finance minister P Chidambaram who has conditioned his permission on the port, by demanding a certain percentage return on investment from the port development project.
About Chah-bahar Port:
Afghanistan and Iran inked an agreement which will permit Afghanistan to use Iran’s south-eastern Chabahar port for shipments and trade.
Why Afghanistan needs to use port of Iran?
Afghanistan is a landlocked country thus it needs to use Iran’s port for its shipments and trade.
Strategic location of Chabahar port
Chah Bahar is Iran’s southernmost city.
Iran’s closest and best access point to the Indian Ocean.
It is the only Iranian port with direct access to ocean.
For this reason, Chabahar is the focal point of Iran for development of the east of the country through expansion and enhancement of transit routes among countries situated in the northern part of the Indian Ocean and Central Asia.
Chabahar is just 72 km west of Pakistans Gwadar Port, being built with Chinese help.
What is the India’s role in this whole gambit?
A plan being finalized by India to construct a 900-km railway line that will connect Chabahar port in Iran, being built with Indian assistance, to the mineral-rich Hajigak region of Afghanistan.
When finished, this line will throw up both geo-political and economic opportunities for India.
Why the deal b/w Iran and Afghanistan will be a win-win situation for Afghanistan, India, Iran and also for US?
Afghanistan:
Access to the sea.
Decrease in dependence on Pakistan.
This will resolve trade related transit issues of Afghan traders and thus promote trade and commerce.
India:
Increase in Indian influence in Afghanistan.
Increase in strategic presence of India in the region.
It will open opportunities for Indian companies to explore Afghanistans mineral wealth, believed to be worth $1-3 trillion, for mutual benefit.
It will add to the economic rationale for Indian investment in Chabahar.
Once the entire network comprising of road, rail and port is in place, it can become a launching pad for greater economic and strategic involvement of India in the oil and mineral-rich Central Asia.
(Behind the curtains):
It is believed that the Chabahar port is being financed by Indian government in order to maintain Iranian and Indian influence in Afghanistan after US forces leave Afghanistan in 2014.
It is also believed that this is a move by India in order to counter Gwadar port of Pakistan which it has given on lease to China and expects it to be developed into a Naval base.
Iran:
Business opportunities for Iran as its facilities are used.
Chabahar port being built with Indian assistance
Iranian influence in Afghanistan increases.
US:
Relieves the pressure on the US-backed Afghan Government to rely on trade routes via Pakistan, as relations b/w US and Pakistan have seen substantial restrains in recent times.
The agreement b/w Iran and Afghanistan will assist Afghan traders including those directly working with US contracting companies as they will now be able to use the south-eastern port – Iran’s only port with direct access to the sea – for importing and exporting goods.
Relief to US/NATO officials as the shutdown of NATO supplies from Pakistan has induced enormous setback in terms of finance to US/NATO.
So, except Pakistan which looses business in the process, it is a win-win situation for all.
Health Ministry plans to set up “Birth Waiting Homes”
The Ministry of Health and Welfare intends to set up “Birth Waiting Homes” close to healthcare centres to facilitate pregnant women in remote areas to gain access to prenatal care as their due date approaches.
Under National Rural Health Mission, it also plans to hire palanquins or carts to transport pregnant women across difficult terrain with a view improve institutional deliveries. The government would pay the men who carry the palanquin.
As per the plan, the “Birth Waiting Homes” will be set up within or near the compounds of a health facility. The pregnant woman would be given all support and incentives to access these facilities at least a week before her delivery date.
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