D J Pandian appointed vice-president of AIIB

Former IAS officer D J Pandian has been appointed vice-president and chief investment officer (CIO) of Beijing-based Asian Infrastructure Investment Bank (AIIB). He is retired IAS officer of Gujarat cadre and had served as chief secretary of the state. He also had worked on deputation with the World Bank. He was also the MD of Gujarat State Petroleum Corporation (GSPC). About Asian Infrastructure Investment Bank (AIIB) AIIB is a multi-lateral lender set up to boost lending for infrastructure projects in the Asia-Pacific region. It will fund infrastructural projects such as energy, urban construction, transportation and logistics as well as education and healthcare. It has authorised capital of US 100 billion dollars and subscribed capital of USD 50 billion. China, India and Russia are the three largest shareholders of AIIB, taking 30.34%, 8.52%, 6.66% stake respectively. Their voting shares are 26.06%, 7.5% and 5.92% respectively.

Policy on Promotion of City Compost.

The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to Policy on Promotion of City Compost. This policy will help in circulating compost produced from city waste for the purpose of farming and agriculture. Key features of Policy For increasing production and consumption of City Compost, provision for Market development assistance of Rs. 1500 per tonne of city compost has been added. Farmers will be benefitted from lower MRP of city compost as result of Market development assistance. To ensure that environment friendly quality city compost, eco-Mark standard has been made mandatory. Fertilizer companies will co-market City Compost along with chemical fertilizers. For promoting the use of compost, these companies will adopt villages. It will be mandatory for Public Sector undertakings and Government Departments to use City Compost for purpose of their horticulture. Concerned Ministries will undertake campaigns to create awareness among farmers about benefits of city compost and its uses. Agriculture Universities and other departments will also contribute in demonstration activities related to use of City compost. In the initial phase, promotion and marketing of city compost will be done through the existing fertilizer companies.  But later, it will be done by compost manufacturers and other marketing entities after the approval from Department of Fertilisers. Benefits Composting is process of recycling of organic matter or waste into useful fertilizers for soil. Compost obtained from city garbage will provide primary as well as secondary nutrients to soil improving its productivity. It will play pivotal role municipal waste management especially keeping the city clean and also generate revenue from the waste. It will also generate employment in urban areas. Prevent the production of harmful greenhouse gases (GHGs) especially methane (CH4) and toxic material. Thus, keeping environment and groundwater clean.

Cabinet Committee on Economic Affairs approved development of the six lanning of NH-2

The Cabinet Committee on Economic Affairs (CCEA) has approved development of the six laning of National Highway-2 from Aurangabad-BarwaAdda section in Bihar and Jharkhand. Decision in this regard was taken in the CCEA meeting chaired by the Prime Minister Narendra Modi in New Delhi. Key facts The six laning work approximately length of 222 kms will be under the National Highways Development Project (NHDP) Phase-V. It will be undertaken on Design, Build, Finance, Operate and Transfer (BOT/DBFOT) basis with an estimated cost of Rs.4918.48 crore. Project’s main object is to expedite the improvement of infrastructure in Jharkhand and Bihar and also in reduce the time and cost of travel for traffic. The development of this stretch will also help to increase employment potential for local labourers for project activities and uplifting the socio-economic condition of the concerned regions.

Dinesh Sharma elected the board of directors Asian Infrastructure Investment Bank

India’s Dinesh Sharma has been elected to the board of directors of the China-sponsored Asian Infrastructure Investment Bank (AIIB). He has been elected to the 12-member board through a secret ballot. This is the first board of directors of AIIB in which 57 nations are founding members including India. The inaugural meeting of the board of the governors of the AIIB also held in Beijing after its formal launch. The meeting approved by-laws, rules and codes of conduct for the bank. It should be noted that Union Finance Minister Arun Jaitley is the designated governor of the AIIB from India. However he was represented by Mr. Sharma at the meeting. Presently, Dinesh Sharma is serving as Additional Secretary of Union Ministry of Finance. Comment The election of India to board of directors of the AIIB is expected to provide significant role for it as it is the forum that approves the loans for projects. With authorised capital of 100 billion dollars, AIIB is expected to begin loan approvals before the end year 2016. It will provide financial support for infrastructure development and regional connectivity in Asia in sectors including energy, transportation, urban construction and logistics as well as education and healthcare.

Namami Gange or Clean Ganga programme

The Central government will be setting up a Special Purpose Vehicle (SPV) for its ambitious programme Namami Gange or Clean Ganga initiative. According to official sources in the Ministry of Water Resources, after deliberations with various stakeholders, it was found that an SPV on the lines of the Delhi Metro Rail Corporation (DMRC) would be best suited for the project. A dedicated SPV with a bureaucrat of the calibre of E. Sreedharan who headed DMRC is the way forward. The Chief Secretaries of all States through which the Ganga passes will be made members of the board of this SPV, as would select municipal commissioners of big cities on the Ganga route,” said a top official in the Ministry. As of now, the Clean Ganga project involves the Ministries of Water Resources, Urban Development, Environment and Forests, Roads and Highways and Rural Development and Sanitation. “It is hoped that an SPV will help coalesce all these different strands into one coherent plan,” said the source. Hydel power projects on the river, especially in Uttarakhand, and the effect it has on the flow of the river and how to balance this with requirements of power in various States will also be studied. “Datarest, a Dutch company, will be looking at issues related to distribution and flow in the Ganga and any decision on hydel projects will be taken after that,” said the source. Hydel projects have been looked at as a cause of environmental degradation in the sensitive Himalayan ecosystem. These are said to have seriously affected the flow in the river, affecting downstream areas. A major conference called Jal Manthan will be called in February to discuss all these issues, and to carve out a special plan for the Ganga, within a larger water policy for other rivers.

FIFA Ballon d’Or Award 2016

Barcelona FC forward Lionel Messi from Argentina has won the 2016 FIFA Ballon d’Or Award. He has earned this title of world’s best football player for record fifth time. Earlier he was conferred with this award in 2010 (inaugural), 2011, 2012 and 2012. For this edition of prize, Messi secured 41.33% of the votes pipped current holder and three-time winner Cristiano Ronaldo (27.76% votes), as well as his Barclona teammate Neymar (7.86% votes). Other 2015 winners FIFA Women’s World Player of the Year: Carli Lloyd (United States) FIFA Puskás Award: Wendell Lira. World Coach of the Year (Men’s): Luis Enrique (Barcelona FC). World Coach of the Year (Women’s): Jill Ellis (United Staes). FIFA Fair Play Award: All football organisations supporting refugees About FIFA Ballon d’Or Award It is an annual football association award given by FIFA to the male player who has performed the best in the previous calendar year. This award was instituted in 2010 after France Football’s Ballon d’Or and the men’s FIFA World Player of the Year award were merged. It is awarded to the male player, based upon highest votes secured by him from national team coaches and captains, as well as journalists from around the world.

2,500 Wi-Fi hotspots installing at 256 places

The government plans to reach up to 50 crore internet subscribers in next 6-7 months, besides installing 2,500 Wi-Fi hotspots at 256 places by the next fiscal, Telecom Minister Ravi Shankar Prasad. mobile penetration is 100 crore, while internet penetration is 40 crore. It took more than 3-4 years to become from 20 to 30 crore. It took less than a year to become from 30 to 40 crore and I have fixed a target of 50 crore,” Mr. Prasad said at the launch of the Bombay Stock Exchange’s (BSE) free public Wi-Fi service started in partnership with Tata Docomo. The Minister said BSNL aims to install 2,500 Wi-Fi hotspots at 256 places by the next fiscal. Mr. Prasad also announced that the BSE would get its own postage stamp. In acceding to your (BSE) request to have postal stamp, I am feeling happy as it is the official recognition of the work you are doing.