PIB Summary and Analysis Aug 19
Ministry of Defence approves delegation of Powers to Border Roads Organisation.
The Border Road Organisation (BRO), which functions under the Ministry of Defence since 2015, is mainly tasked with constructing roads to difficult and inaccessible regions in the borders of the country.
In order to ensure quicker construction of roads and to plug the gaps in critical infrastructure in the border areas and to avoid delays in the works, the defence ministry has approved delegation of powers to Border Roads Organisation.
This step is in line to usher in financial autonomy and bring transformational changes in the BRO. As per the new delegation regulations, a chief engineer in the BRO can give administrative approval of works up to Rs. 50 crore as compared to Rs. 10 crore earlier, an ADGBR can give administrative approval of works up to Rs. 75 crore as compared to Rs. 20 crore earlier and DGBR can give administrative approval of works up to Rs. 100 crore as compared to Rs.50 crore earlier.
The new delegation regulations allow the entire tendering process including acceptance of bids to be completed at the level of Chief Engineer/ADGBR for a majority of the contracts.
It is expected that with delegation of powers to the BRO, the pace of road construction in border areas would improve and the BRO would be able to complete ongoing/new projects in compressed timelines.
GOI’s Street Lighting National Programme illuminates 50,000 KM of Indian roads
The Street Lighting National Programme (SLNP) which aims to install street lights all across the country has successfully installed 30 lakh LED street lights across the country by replacing the conventional street lights. This cumulatively adds up to 50,000 KM of Indian roads.
SLNP is implemented by Energy Efficiency Services Limited (EESL) under the Ministry of Power. After achieving this milestone, EESL has become world’s largest street light management company.
The installation of 30 lakh LED street lights has resulted in 39 crore kWh of annual energy savings, avoided capacity of over 104.19 MW to the Urban Local Bodies (ULBs). It has also helped in reduction of 3.29 lakh tonnes of CO2 annually.
Under SLNP, Rajasthan is leading the country with an installation of 7.85 lakh LED street lights followed by Andhra Pradesh and Gujarat with 6.03 lakhs and 5.4 lakhs respectively.
Rashtrapati Bhavan is a National Institution and Belongs to all the People of our Country, Says President.
The President of India, Shri Ram Nath Kovind met with the staff of Rashtrapati Bhavan and the President’s Press Wing officers on 19th August, 2017.
During his meet, the President conveyed the message that the Rashtrapati Bhavan is a National institute which belongs to all the people of India. He underlined the need to make Rashtrapati Bhavan accessible to as many people as possible.
He suggested use of an updated website, social media and other digital technology tools to ensure that more and more people in other parts of the country can be part of the Rashtrapati Bhavan online community.
FM inaugurates the National Conference on Insolvency and Bankruptcy
National Conference on Insolvency and Bankruptcy: Changing Paragdigm was held at Mumbai and was inaugurated by the union finance minister Shri Arun Jaitley.
RBI governor Urjit Patel and SEBI chairman Ajay Tyagi were also present on the occasion.
The Finance Minister also inaugurated the website of the National Foundation for Corporate Governance (NGCG).
In his speech, the minister said that the Insolvency and Bankruptcy code has brought a balance in Creditors and Debtors perspective. It safeguards the interests of both the creditors and the debtors. While explaining the importance of role played by judiciary, .He said “legislation is a skeletal structure, the flesh and blood is provided by judicial Interpretation”. The new legislation should see that effective functioning of a company does not come to a standstill .Debtors will have to make sure that debts are serviced.
In his address, Governor, Reserve Bank of India (RBI said that the enactment of the Insolvency and Bankruptcy Code in 2016 is a watershed towards improving the credit culture in the country. He elaborated that the Insolvency and Bankruptcy code in essence provides for a single window time bound process for resolution of an asset with emphasis on promotion of entrepreneurship, maximization of assets and balances the interest of all stakeholders.