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UAE-India airfares seen doubling in peak season

MUMBAI: WEDNESDAY, JUNE 15, 2022 VOL. XXX NO. 21 AISHWARYA PUBLICATIONS PVT. LTD. ESTD. 1993 6 PAGES PRICE ` 10

A
Our UAE Correspondent
IRFARES to the Indian
subcontinent are ex-
pected to double in July
and August as demand for out-
bound travel will peak when
many families travel to their
home countries during the sum-
confidence. handling sector. encing the effects of bottlenecks
Many budget-conscious ex- “Thousands of ground han- in getting security clearances
patriate families in the UAE have dling staff left the aviation industry for staff at the airport.
not travelled to their home coun- during the pandemic. Now as “Additional resources are
tries in the past two years, fearing aviation ramps up, the severe needed to accelerate the pro-
Covid-driven travel restrictions shortage of skilled ground han- cessing times for employment
could be imposed again. In June, dlers is shedding light on the security clearances which can
airfares to India are around Dh need for reform to stabilise the be as much as six months in
1,500 (` 31,780) to Dh 1,600 (` talent pool,” a spokesman said. some markets. The shortages

mer vacations.
Travel industry executives
said there is a strong demand
for travel during the summer
vacations because this is the
Airline industry
“In the immediate term, the
most pressing issue is the bot-
worldwide face tleneck for security clearances
as the airline industry prepares
ground handling for the peak northern summer
we are experiencing today are
a symptom of the longer-term
challenges to achieve a stable
talent base in ground handling,”
said Mr Careen.

first summer break without
Covid-19 restrictions after two
years as travellers are not re-
quired to carry negative PCR
tests, take approval from the
General Director of Residency
and Foreigners Affairs (GDRFA)
or the Federal Authority for Iden-
tity, Citizenship, Customs and
Port Security prior to returning
to the UAE.
The decline in new corona
virus cases and relaxation in
staff shortage
33,900), depending on the des-
tination.
Travel industry executives
say that fares to popular Indian
cities could reach up to Dh 3,000
(` 63,500) during the peak days
soon after the summer school
holidays begin in the UAE.
“Airfares to popular destina-
will see a sharp increase in the
coming weeks as expatriate fam-
ilies will increasingly fly to their
home countries,” said Avinash
Adnani, Managing Director of
Pluto Travels, as reported by
range of Dh 2,000 to Dh 2,200
for July and likely to touch or
surpass Dh 3,000 during peak
days in July and August. There
is a heavy demand during Eid
Al Adha in July.
handling staff shortage as travel
ramps up in the post-pandemic
period. Industry body, the In-
ternational Air Transport Asso-
ciation (IATA), has called for
comprehensive reforms to man-
season.
Longer-term, IATA has urged
the ground handling sector to
adopt a stronger talent acquisi-
tion strategy. It also wants to
see a more streamlined onboard-
ing processes, and for the in-
dustry to develop a more com-
pelling retention proposition.
IATA’s Senior Vice President
for Operations, Safety and Se-
curity, Nick Careen, said: “The
peak northern summer travel
At IATA’s recent ground han-
dling conference, it proposed a
comprehensive approach to re-
cruitment, onboarding, and re-
tention.
The industry body has made
a number of recommendations.
One is the adoption of a “25by25”
campaign to help address the
gender imbalance across the in-
dustry.
It also suggests apprentice-
ships in partnership with trade

2,000 expatriates benefit from Kayzan Group to set up

travel restrictions have sub- tions to India, Pakistan and other Khaleej Times. Meanwhile, the airline in- age the long-term need for a season is fast approaching, and schools to revitalise candidate
stantially improved travellers’ Indian subcontinent countries Airfares to India are in the dustry has warned of a ground stable talent base for the ground passengers are already experi- pipelines.

Bahrain’s Golden Visa scheme gold refinery in Sharjah

A I
Our Bahrain Correspondent
ROUND 2,000 expatri-
ates in Bahrain have
benefitted from the
Golden Residency Visa Pro-
gramme since it was launched
in February this year, according
to Bahrain’s Finance and Na-
tional Economy Minister, Shaikh
Salman bin Khalifa Al Khalifa.
The long-term visa is part of
Bahrain’s Economic Recovery
Plan, to attract global talent and
boost investment.
Details were revealed during
the Economic Recovery Forum
organised by the Shura Council
in collaboration with the Bahrain
Institute of Banking and Finance
(BIBF) at its headquarters in
Bahrain Bay and supported by
the National Bank of Bahrain
(NBB).
“More than 1,800 individuals
have benefitted from the Golden
Residency Visa Programme
which was launched on February
7 this year,” said Shaikh Salman
bin Khalifa Al Khalifa during the
forum.
“The initiative aims to elevate
and enhance the investment en-
vironment across various sectors
omy and is in line with the gov-
ernment’s aspirations and
Bahrain’s Economic Vision 2030.
“It also aims to attract talented
individuals in various economic,
investment and service fields
while giving them the opportunity
to permanently reside in Bahrain
along with their families.”
dency Visa is open to four cate-
gories – residents, retirees, prop-
erty owners and talented indi-
viduals in various fields who can
contribute to Bahrain’s ongoing
success.
The initiative was launched
by the Nationality, Passports and
Residence Affairs (NPRA) to al-
gories to permanently reside in
the kingdom.
To qualify for the special per-
mit, existing residents must have
continuously resided in Bahrain
for at least five years and earned
an average basic salary of
BD2,000 monthly or more
throughout the five-year period.
For retirees, they need to
submit a salary proof of BD4,000
or more while highly-talented in-
dividuals need to submit a cer-
tificate proving their skill set that
will be vetted by a special com-
mittee.
In the case of expatriate
property owners, the title deeds
of their property should be of a
total value that is not less than
BD2,00,000.
A valid health insurance is
mandatory for all categories ap-
plying for the Golden Residency
Visa Programme and those
granted the special visa must
stay in Bahrain for 90 days a
year to ensure the permit re-
mains valid.
Those interested can visit
bahrain.bh to apply for the permit
and the fee is BD300 per person
and a non-refundable BD4 ap-
plication fee. (1 Bahrain Dinar
Our UAE Correspondent
NDIA-based Kayzan Group,
engaged in bullion trade,
wholesale and retail of gold
jewellery and multi-branded
consumer goods in the UAE, is
setting up a gold refinery in the
UAE with an installed capacity
of one tonne per day at a cost
of $20 million.
The refinery, which will use
scrap gold as feedstock, will be
located at Sharjah International
Airport Free Zone (SAIF) with
an annual refining capacity of
365 tonnes, said Latheef
Cholapilakkal, Director, Opera-
tions, Kayzan Group.
“We are taking the backward
integration route as scrap gold
is sourced from the market and
our customers. Traditionally we
have been sourcing scrap gold
from the market over the past 15
years, which we give to the re-
fineries to refine for our use, as
gold bars and jewellery,” he said.
The group, with Rizan as its
jewellery brand, has seven retail
outlets in the UAE, two outlets
and a gold jewellery manufac-
turing unit in Muscat in Oman.
Mr Latheef said, several
Rizan outlets are being opened
in Kerala.
“It is a natural decision to start
a refinery as a backward integra-
tion project. Our targetted cus-
tomers for refined gold are the
retailers because they are the
primary source of scrap collection.
We also collect scrap gold from
our walk-in customers at our out-
lets who exchange old gold jew-
ellery for new ones,” he said.
Kayzan is also planning to
extend its retail network and bul-
lion stores to other GCC coun-
tries, Singapore and Malaysia.
It already has bullion and
jewellery wholesale business in
the US and Canada.
The Group also imports jew-
ellery from Italy and Turkey. The
holding company is Keyzan
Group and Rizan is a subsidiary
registered in India.

Cabinet approves MoU with

which supports the national econ- The 10-year Golden Resi- low residents and other cate- is ` 206).

$85 billion (` 6.48 lakh crore).

UAE on co-op in industries

India and the UAE have
signed a bilateral Comprehen-
sive Economic Partnership

and advanced technologies

Agreement (CEPA) in February
2022. The agreement has po-
tential to increase trade between
the countries from $60 billion (`
4.57 lakh crore) to $100 billion
(` 7.63 lakh crore) in the next
five years.
The MoU envisages co-op-
eration on a mutually beneficial
basis in the following areas: 1)
Strengthening the supply chain
resilience of industries. 2) Re-
newable energy & energy effi-
ciency. 3) Health and life sci-
ences. 4) Space systems. 5) Ar-
tificial intelligence. 6) Industry
4.0 enabling technologies. 7)
Standardisation, metrology, con-
formity assessment, accredita-
tion, and Halal certification.
The MoU aims at strength-
ening and developing industries

T
AAT News Service
HE Union Cabinet
chaired by the Prime Min-
ister, Narendra Modi, has
approved the proposal for sign-
ing a bilateral Memorandum of
Understanding (MoU) with the
United Arab Emirates (UAE) on
co-operation in the field of in-
dustries and advanced tech-
nologies.
Growing India-UAE econom-
ic and commercial relations con-
tribute to the stability and strength
of a rapid diversifying and deep-
ening bilateral relationship be-
tween the two countries. India-
UAE bilateral trade, valued at
$180 million (` 1,373 crore) per
annum in the 1970s has in-
creased to $60 billion (` 4.57
lakh crore) making the UAE In-
dia's third largest trading partner
for the year 2019-20 after China
and the US.
Moreover, the UAE is the
second largest export destination
of India (after US) with an export
value of $29 billion (` 2.21 lakh
crore) for the year 2019-2020.
The UAE is eighth largest investor
in India with an estimated invest-
ment of $18 billion (` 1.37 lakh
crore). Indian investments in the
UAE are estimated at around
in both nations through invest-
ments, technology transfer and
the deployment of key technolo-
gies in industries. This is likely
to generate employment across
the economy.
The implementation of MoU
may lead to increase in research
and innovation in all areas of
mutual co-operation. This may
lead to growth, increased do-
mestic production, enhanced ex-
ports and reduction in imports.
New waveform enables 5G
2 ASSIGNMENTS ABROAD TIMES, MUMBAI, WEDNESDAY, JUNE 15, 2022

towers to cover wide areas

in rural and remote areas
India to take fibre and mobile communications
to over six lakh villages

D
AAT News Service dards and setting up of 6G in- These standards were said Haolin Zhou, Secretary-
novation forum are the initiatives among the first 5G standards, General, ITU.
IGITAL inclusion is at that the Central government has which have been approved by The ITU has opened its area
the heart of financial in- taken to reduce costs, facilitate the International Telecommuni- office in India. The participation

NTPC renews policy for

clusion and inclusive eco- faster 5G spread in rural areas cation Union (ITU) and have comes with India contesting the The CEO, NITI Aayog, Amitabh Kant, addressing the workshop on ‘Recent initiatives
nomic development. The Central and eliminate dependency on also become a part of globally- re-election to the ITU Council, for simplifying Aadhaar usage’, in New Delhi
government has taken several specific vendors. harmonised 3GPP – the global for the term 2023-26. India has
initiatives to provide reliable ICT India is a vast country with telecommunications standards been a member of ITU since
(information and communications large rural and remote areas. body – Release-17 standards. 1869 and has been continuously

conservation of biodiversity
technology) infrastructure in this participating actively in the works
endeavour. Over six lakh villages and activities of the Union, said
are being connected on optical Mr Zhou.
fibre cable, with nearly one lakh The communications sector
already connected. Villages left has grown leaps and bounds
out of 4G connectivity are being with multiple policies and

I
covered through Universal Serv- schemes like Digital India,
ice Obligation Fund, said De- BharatNet, and National Broad- AAT News Service its currently operating sites and cific and national-level training
vusinh Chauhan, Union Minister band Mission. India is ensuring ensure there is a net positive in collaboration with experts.
of State for Communications. a digitally-empowered society NDIA’S largest integrated en- balance wherever applicable. NTPC is also collaborating
Speaking at the World Sum- and knowledge economy. The ergy producer, the National The power major aims to with local communities, organi-
mit of Information Society 2022 nation has made significant Thermal Power Corporation mainstream the concept of bio- sations, regulatory agencies and
meeting, in Switzerland, Mr Singh strides in domains of digital (NTPC), has issued a renewed diversity across NTPC’s value research institutes of national
said “given the difficulty in laying health, education, financial trans- Biodiversity Policy, 2022 to es- chain and adopt a precautionary and international repute in the
optical fibre networks in hilly and lation, e-governance etc. tablish a comprehensive vision approach for sustainable man- field of biodiversity.
mountainous terrains, our focus The 5G test bed for start- and guiding principle for con- agement of biodiversity in all the Further, NTPC will be ad-
is on the use of technologies ups was launched recently. Ear- servation, restoration, and en- decision-making processes to hering to legal compliances with
that can accelerate development lier, the Indian companies had hancement of biodiversity. ensure the Earth’s variety of life respect to biodiversity by com-
and bridge this divide, like using to go abroad for testing mobile The policy is an integral part in and around the business units plying with rules and regulations
E-band wireless carriers, and network use cases as there were of NTPC’s Environmental Policy. of NTPC. The policy also aims related to the environment, forest,
LEO (low earth orbit) and MEO no testing facilities in the country. Its objectives are aligned with to adopt systematic consideration wildlife, coastal zone, and green
(medium earth orbit) satellite But now, because of the indige- environmental and sustainability of local threats to biodiversity cover during planning and exe-
connectivity among others. We nous technologies, they are able policies. Moreover, the policy is beyond the company’s business cution of its projects.
have issued the first service li- to develop the new technology also designed to support all the activities. In a major initiative under-
cense for LEO and MEO con- faster and at a lower cost. professionals of the NTPC Group NTPC was the first public taken by NTPC, it has signed a
nectivity, and hope to harness The Telecommunications Stan- These will be immensely helpful The Universal Service Obli- to help them contribute towards sector unit to issue a Biodiversity five-year agreement with Andhra
the technology to enable digital dards Development Society, In- for countries with similar geo- gation Fund is the pool of funds the achievement of the targets Policy in the year 2018. In the Pradesh Forest Department for
inclusion in remote areas”. dia – India’s standards devel- graphical spread. generated by five per cent Uni- set in this field. same year, NTPC became a conservation of Olive Ridley Tur-
Elaborating the role of new opment organisation, along with India is poised to play a versal Service Levy that is NTPC has always been member of the India Business tles in the coastline of Andhra
technologies in bridging the dig- Indian Institutes of Technology leadership role in the global dig- charged upon all the telecom mindful about avoiding opera- & Biodiversity Initiative. Pradesh. With the financial con-
ital divide, the minister said that have developed the low-mobility ital revolution. The country, de- fund operators on their Adjusted tions in areas with the highest As part of its capacity build- tribution of ` 4.6 crore and in-
affordable broadband accessi- large coverage standard (earlier veloped in the field of telecom, Gross Revenue. This fund is de- biodiversity value and judiciously ing, NTPC is raising awareness creased participation of the com-
bility is the essence of digital in- called 5Gi) using a new wave- 5G technology, and customised posited in the Consolidated Fund selecting project sites. The com- among local communities, em- munity, the number of hatchlings
clusion. Developing 5G test bed, form that enables 5G towers to 5G standards, now plans to take of India and is dispatched on pany will further strengthen its ployees, and its associates released in seawater has in-
current efforts to achieve a ‘no across the supply chain about creased to about 2.25 times

CIPET vocational training

indigenous 4G and 5G stack, cover wider areas in rural and fibre and mobile communica- the approval of the Indian Par-
development of Indian 5G stan- remote areas. tions to over six lakh villages, liament. net loss’ of biodiversity at all of biodiversity through project-spe- since NTPC’s intervention.

India’s textiles

centre set up in Bhavnagar

export all-time
high at $44 bn
in fiscal ’21-22 It will create huge employment opportunities in future
AAT News Service
for the youth. It is the best model of self-sustainable
INDIA scaled its highest-ever
exports tally at $44.4 billion in
institution and industry-academia collaboration
textiles and apparel, including
handicrafts in FY 2021-22, indi-
cating a substantial increase of
41 per cent and 26 per cent
over corresponding figures in
FY 2020-21 and FY 2019-20,
respectively.
The Union Minister for Power, New and Renewable Energy, Raj Kumar Singh, addressing a The US was the top export

Coal imports down to 209

press conference on Green Open Access Rules, 2022 to further accelerate India’s renewable destination accounting for 27
energy programmes, in New Delhi per cent share, followed by the
European Union (18 per cent),
Bangladesh (12 per cent) and

million tonnes in 2021-22

the UAE (6 per cent).
In terms of product cate-
gories, the export of cotton tex-
tiles was $17.2 billion with 39
per cent share, registering a
growth of 54 per cent and 67

I
per cent during 2021-22 over
FY 2020-21 and FY 2019-20,
AAT News Service the years. units (BU) in 2021-22 from 1,032
respectively.
All-India coal production has BU in 2020-21, an increase of
Exports of readymade gar-
NDIA has a balanced energy increased from 716 MTs in 2020- 83 BU in absolute terms and al-

I
ments was $16 billion with 36
basket, and the coal sector 21 to 777 MTs in 2021-22, re- most eight per cent in percentage
per cent share, showing a
is an important contributor in sulting in an increase of 61 MTs. terms. AAT News Service vide quality training and create skill levels through academic
growth of 31 per cent and 3 per
fulfilling the nation’s energy Therefore, despite a steep rise Coking coal import was 57 a competent workforce for the long- and short-term, Skill De-
cent during 2021-22 over FY
needs. The sector is not only in actual demand for coal from MTs with a growth of 11.65 per NDIA’S chemical and petro- chemicals and petrochemicals velopment and Entrepreneurship
2020-21 and FY 2019-20, re-
committed to meet coal demand 906 MTs in 2020-21 to 1,027 cent during 2021-22 which is chemical industry is devel- industry. CIPET has the capability Development Programmes in
spectively.
in the country, but also sensitive MTs in 2021-22, coal imports largely used in the steel sector. oping at the rate of 10 per to create a skilled workforce, petrochemicals, including plas-
Man-made textiles export
towards building a sustainable could be contained due to in- However, as compared to the cent and this can only sustain if and the institute in Bhavnagar tics. CIPET offers technology
was $6.3 billion with 14 per cent
ecosystem. Coal is a critical creased domestic dispatch from pre-Covid 19 year of 2019-20, the country invests in its work- has strong potential to become support and consultancy services
share, which shows a growth of
input for the power, fertiliser, 691 MTs in 2020-21 to 818 MTs the growth in coking coal import force apart from industrial infra- an important cog in the wheel in the areas of design, tooling
51 per cent and 18 per cent dur-
iron & steel and cement sectors. in 2021-22. is around 10 per cent. Coal im- structure. The Central Institute for the development of the city. and mould manufacturing,
ing 2021-22 over FY 2020-21
Coal imports, which had Domestic dispatch has not ported by the non-regulated sec- of Petrochemicals Engineering “Owing to the vibrant petro- CAD/CAM/CAE, production en-
and FY 2019-20, respectively.
reached a peak of 248 million only increased to the power tor (cement, sponge iron and and Technology (CIPET) solves chemical industry in Gujarat, gineering, plastics processing,
Export of handicrafts was
tonnes (MTs) in 2019-20, de- sector, but also to the non- paper etc) increased to 125 MTs this practical problem and needs such centres will create the testing and quality assurance,
$2.1 billion with 5 per cent share,
clined continuously to 215 MTs power sector by 101 MTs in in 2021-22 from 119 MTs in of the industry by providing a much-needed skilled manpower inspection services and calibra-
reporting a growth of 22 per
in 2020-21 and further to 209 2020-21 to 104 MTs in 2021-22. 2020-21, an increase of 5.23 model of self-sustainable insti- for the industry and will create tion to the petrochemical indus-
cent and 16 per cent during FY
MTs in 2021-22. The decline in coal import dur- per cent. tution and industry-academia employment for our youth. CIPET tries, including plastic industries.
2021-22 over FY 2020-21 and
Despite a steep rise in actual ing 2021-22 is largely due to a Compared to the pre-Covid collaboration. will fulfill this need of skilled CIPET also undertakes re-
FY 2019-20, respectively.
demand of coal from 956 MTs decrease in import by the power 19 year of 2019-22, when im- Apart from training, CIPET manpower in the chemical and search and application devel-
in 2019-20 to 1,027 MTs in 2021- sector, which came down from ports by the non-regulated sec- has been able to provide job petrochemical industry. The in- opment in the petrochemicals
22, coal imports have not in- 45 MTs in 2020-21 to 27 MTs in tor was 127 MTs, imports by this opportunities to students. Out stitute operates from various lo- sector, including plastics, syn-
creased. Coal imports grew at 2021-22, a decline of almost 40 sector actually declined in 2021- of one lakh pass outs every cations spread across the coun- thetic rubber, technical textiles,
a compound annual growth rate per cent. 22. Thus, increase in import of year, 90 per cent of the students try to cater to the needs of the solvents, fertilisers, pharmaceu-
(CAGR) of 22.86 per cent during The decline is more steep coal by non-power sector during get placed in the industry, said polymer and allied industries,” ticals, additives, explosives, ad-
the period 2009-14. At this as compared to coal imports by 2021-22 is largely on account of Mansukh Mandaviya, Union Min- said Mr Mandaviya. hesives and coatings. They also
CAGR, coal imports would have power sector in 2021-22 to the growth in import of coking coal ister for Chemicals and Fertilis- The objective of the institute, work on increasing the profes-
reached 705 MTs in 2020-21, pre-Covid 19 year of 2019-20 and import of coal by non-regu- ers. a premier academic institution sional competency of faculty by
and further to 866 MTs in 2021- when such imports were 69 MTs. lated sector which largely import Inaugurating CIPET’s 45th for higher and technical educa- providing an opportunity for fac-
22. The import of coal can be This is despite the fact that total high-grade thermal coal. Supply Vocational Training Centre at tion under the Ministry of Chem- ulty to upgrade their qualification
checked only by sustaining in- thermal power generation in the of both these categories of coal Bhavnagar, in Gujarat, the min- icals and Fertilisers, is to provide and technical expertise through
creased domestic supply over country increased to 1,115 billion are limited in the country. ister said the centre aims to pro- qualified professionals at various advanced training programmes.
 WEDNESDAY, JUNE 15, 2022 ASSIGNMENTS ABROAD TIMES, MUMBAI 3

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T
AAT News Service of the scheme. The securities risk, sector risk and market risk. actions, the higher your costs
are selected keeping in mind Company risk and sector risk will be. Mutual funds have the
HESE are volatile times the investment objective of the are unsystematic risk, while mar- benefit of being charged very
for the equity markets. In- scheme. Mutual funds are man- ket risk is known as systematic low. They may, for example, be

Ride Out Volatility

vestors who have had a aged by asset management risk. Mutual funds help investors able to get lower brokerage rates,
dream run through 2021 and companies (AMCs). AMCs ap- diversify unsystematic risks by which benefits investors in mu-
early 2022 are now left wonder- point fund managers to manage investing in a diversified portfolio tual funds. A debt fund maybe
ing which direction the market different mutual fund schemes of stocks across different sectors. able to negotiate higher interest

With MFs’ Help

is going to take. The reason for and ensure that the scheme in- While individual stocks have rates from debt issuers since
this doubt is the volatility that
one sees on the stock indices
these days. The trend is visible
not just in India but across the
world.
After crossing the historic
60,000 mark, the benchmark in-
dex Sensex made a retreat to
nearly 50,000 and has since
been hovering around 55,000.
But any market observer would
know that the current position
of the market is very precarious
and that things could turn any
direction.

Mutual funds (MFs) are the best bets

The volatility has only in-
creased after the start of the

in these days of market volatility

Russia-Ukraine war. So since
the war is still on, one does not
know which way things can turn.
Equity markets are keenly watch-
ing the war front. ownership of a diversified port- in mutual funds is that you can gains (held for less than 12
In such a scenario, what folio of stocks with a much small- invest in the appropriate product months) are taxed at 15 per
should investors do? Of course, er capital outlay. suitable for your specific needs cent and long term capital gains
staying invested is the right thing One must also remember and risk appetite. (held for more than 12 months)
to do. But the question is, are that investing in stocks and Further, mutual funds en- are tax exempt up to ` 1 lakh in
all investors capable of handling bonds requires considerable ex- courage investors to invest over a financial year and taxed at 10
such huge volatility which is ex- pertise and experience. You need a long period of time, which is per cent thereafter (excess of `
pected to continue? Here we to have knowledge of financial essential to wealth creation. Fur- 1 lakh of capital gains). In non-
would say that investors must markets, industry sectors, indi- thermore, the advantages of mu- equity funds, short term capital
now focus on mutual funds which vidual companies and research tual fund systematic investment gains (held for less than 36
is the safest thing to do at this expertise. A major advantage of plans or SIPs is that they en- months) are taxed at as per your
time. mutual funds is that they are courage investors to remain dis- income tax rate and long term
If you know the advantages managed by professional fund ciplined to meet their various fi- capital gains (held for more than
of being a mutual fund investor, managers who have the desired nancial goals. Many investors 36 months) are taxed at 20 per
you will know why we are saying qualification, expertise and ex- fail to build a substantial invest- cent after allowing indexation
this. So let us make a case for perience in picking the right ment corpus because they are benefits. Interest income from
mutual funds which have the stocks or other instruments to not able to invest in a disciplined most traditional fixed income in-
better chance of protecting and vestment objectives are met. both unsystematic and system- they deal in large quantities. get the best risk adjusted re- way. Mutual fund SIPs help in- vestments is taxed as per the
growing your money. For fund management and other atic risks, mutual funds are only Another advantage of mutual turns. vestors maintain a disciplined income tax rate of the investors.
As many of us know, a mu- services provided by AMCs, a subject to systematic risk or mar- funds is that you can start in- What is more, mutual funds approach to investment. For investors in the higher tax
tual fund is a financial instrument fee is charged to the investors. ket risk. vesting in mutual funds with rel- offer investors a variety of prod- There are also tax advan- brackets, tax advantages of mu-
which pools the money of differ- There are some benefits that Mutual funds are also cost- atively small amounts. Investors ucts to suit their risk profiles and tages. If you invest in an Equity tual funds are significant com-
ent people and invests them in come with mutual funds. Risk efficient. Investing through mutual will require a large capital outlay investment objectives. Apart from Linked Savings Scheme (ELSS) pared to traditional fixed income
different financial securities like diversification is one such benefit. funds is quite cost-efficient. When to build a diversified portfolio of equity funds, there are hybrid fund, you can reduce your tax- investments.
stocks, bonds etc. Each investor One of the biggest benefits of you buy equity directly, you have stocks. On the other hand, since funds, debt funds, liquid funds able income by as much as ` With such advantages on
in a mutual fund scheme owns mutual funds is risk diversifica- to pay costs like brokerage and mutual funds work on the basis and tax savings schemes etc to 1.5 lakh under Section 80C of your side, mutual funds appear

PM Matsya Sampada T
units of the fund, which repre- tion. Every stock is subject to Securities Transaction Tax (STT). of pooling of money, mutual fund suit different investment require- the Income Tax Act-1961. In eq- to be the best bet to ride out the
sents a portion of the holdings three types of risk – company The larger the number of trans- investors can have the beneficial ments. The benefits of investing uity funds, short term capital volatile times.

Yojana dashboard
AAT News Service properly implement the reforms, was perceived to be increasingly tutional level.”
according to the Supreme Court politicised with significant erosion Taking note of disappoint-
HE Vice-President, M guidelines. Mr Naidu also reit- in values and practices. Instead ment over the non-implementa-
Venkaiah Naidu, empha- erated the need for police re- of being seen as a people-friend- tion of Supreme Court’s direc-
sised that a progressive, forms to uphold law and order ly force, it was seen as being tions on Police Reforms of 2006,
modern India must have a police in the country and to sustain In- elitist and power friendly, he Mr Naidu said, policing is a state

Venkaiah calls for

force which meets the democra- dia’s economic growth. “Peace said. subject and it is the states that
tic aspirations of the people and is the prerequisite for progress,” Referring to the instances of have to lead this drive towards
called for a renewed thrust to he said. misuse of police force during police reforms. “I hope all the
implement reforms in the police Recalling the history of polic- the infamous Emergency, Mr states and the Centre would
force. He was addressing a gath- ing in India, the Vice-President Naidu said, it was used with im- come together in the true spirit

renewed thrust to
ering after releasing the book ti-
tled ‘The Struggle for Police Re-
forms in India’ written by former
IPS officer, Prakash Singh.
Mr Naidu stressed on the
need to upgrade the skills of

adopt police reforms

policemen to effectively tackle
21st Century crimes such as cy-
bercrimes and economic of-
fences which require special in-
vestigative expertise due to their
sophisticated and often trans-

D
boundary nature.
The Vice-President specifi-
AAT News Service PMMSY MIS application aggregates the data
cally highlighted issues that need
from all participating states/UTs, analyses the
to be addressed on a war footing,
IGITAL India is a flagship programme of data and projects the data in the form of a dash-
including filling up huge number
the Government of India with the vision board for sectoral insights. Key performance
of vacancies in police depart-
to transform the country into a digitally parametres are used for projecting overall per-
ments and strengthening the po-
empowered society and knowledge economy. formance at national and state/UT levels, thus
lice infrastructure in tune with
The programme covers multiple government highlighting specific achievements and gaps.
the requirements of modern-age
ministries and departments with the aim of With the realisiation of this strategic techno-
policing. He called for strength-
building a culture of good governance that func- logical initiative, the minister appreciated the
ening the police force at the
tions on evidence-based decision making. It is efforts of the department officials and the technical
grassroots, who are the first re-
in line with Prime Minister, Narendra Modi's team from PMMSY-PMC (Project Management
sponders in most cases. The
vision to use technology as a means to empower Consultant).
Vice-President also wanted the
and as a tool that bridges the distance between The data is fed into the MIS system at district
housing facilities of police per-
hope and opportunity. level by each participating states/UTs. The
sonnel to be improved. Stressing
In view of the same, the Union Minister for platform is a true indicator of the PMMSY scheme
that the behaviour of policemen
Fisheries, Animal Husbandry & Dairying, Parshot- progress. The information is further used for co-
towards the common man should
tam Rupala, launched the Pradhan Mantri Matsya ordination, gap analysis and requirement to take
be courteous and friendly, the
Sampada Yojana Management Information Sys- corrective actions. With many other technological
Vice-President called upon the
tem (PMMSY MIS) dashboard. PMMSY scheme development activities in pipeline for MIS dash-
senior police officers to lead by
was launched in May 2020 with the highest- board improvement, the Department of Fisheries
example in this regard.
ever investment of ` 20,050 crore for focussed and PMC team has been simultaneously making
“A visit to a police station
and holistic development of the fisheries sector efforts for onboarding of all the states/UTs through
should be a hassle-free experi- said, “after the revolt of 1857, punity to suppress human rights of ‘Team India’ to implement the
while ensuring socio-economic well-being of fish- hands-on training on the platform and creating
ence for a person who goes the British created a police force and imprison thousands of peo- much-needed police reforms in
ermen, fish farmers and other stakeholders. Till awareness.
there seeking help. The first with the prime aim of upholding ple, including all the political op- the country,” he said.
date a total project investment of ` 7,242.90 Sanjeev Kumar Balyan, Union Minister of
thing to reform for this is the at- their imperial interests, and dur- ponents of the ruling dispensa- The Vice-President ex-
crore (FY 2020-22) has been done under PMMSY. State, Fisheries, Animal Husbandry & Dairying;
titude of the police – they must ing the freedom struggle, used tion. Subsequently, a National pressed happiness over a num-
Keeping in view the vast scope of PMMSY L Murugan, Union Minister of State, Fisheries,
be open-minded, sensitive and the police to mainly suppress Police Commission was set up ber of initiatives taken by the In-
scheme with multitude locations and components Animal Husbandry & Dairying and Information
receptive to each individual citi- and oppress our freedom fighters in 1977, which submitted reports dian government towards better
and move towards digitalisation, it is imperative and Broadcasting; J N Swain, Secretary, De-
zen’s concerns,” he said. and revolutionaries. After Inde- with detailed multi-dimensional policing, including a project to
to put a MIS in place for aggregating information partment of Fisheries; Atul Chaturvedi, Secretary,
Although there have been pendence, sweeping reforms proposals for police reforms, he decriminalise minor offences and
on one platform. The PMMSY MIS dashboard Ministry of Fisheries, Animal Husbandry and
various attempts at introducing were needed in policing. Unfor- recalled. However, the Vice- violations and the move for
aims at effective monitoring of PMMSY scheme Dairying; J Balaji, Joint Secretary (Marine Fish-
police reforms over the years, tunately, we have lagged behind President noted that “not much amending the Identification of
activities and their progress in all participating eries); Sagar Mehra, Joint Secretary (Inland
progress has not been made to in this crucial area”. headway has been made in the Prisoners Act, 1920, a leg-
states/Union territories (UTs); strategically utilising Fisheries) and other senior officials were also
the desired extent. He called for Over the years following In- bringing reforms in our police islation that was passed more
the information for informed decision making. present on the occasion.
a political will in the states to dependence, the police force force at the individual and insti- than a 100 years ago.

6 MUMBAI, WEDNESDAY, JUNE 15, 2022
Repeat Covid outbreaks disrupt
China’s growth normalisation
Economic growth in China is projected to slow
to 4.3 per cent in 2022 before rebounding to 5.2
per cent in 2023, largely reflecting the economic
damage caused by the persistence of Covid-19
A
AAT News Service
FTER a strong start in
early 2022, multiple out-
breaks of the Omicron
variant of Covid-19 and resulting
mobility restrictions have dis-
rupted China’s growth normali-
sation, observes Between
Shocks and Stimulus, the latest
China Economic Update re-
leased by the World Bank.
Economic growth in China
Fashion Corner
is projected to slow to 4.3 per
Printed by Dr. N.R.K. Pillai, CMD and published by him on behalf of Aishwarya Publications Pvt. Ltd. and printed at M/s. Dangat Media Pvt. Ltd., 22, Digha, MIDC, TTC Industrial Area, Vishnu Nagar, Digha, Navi Mumbai-400 708 and published from 302, Eruchshaw Building, 3rd Floor, 249 Dr. D.N. Road, Fort, Mumbai 400 001. Editor: Dr. N.R.K. Pillai.
cent in 2022 before rebounding
to 5.2 per cent in 2023, largely
reflecting the economic damage
caused by the persistence of
Covid-19.
Investment growth, driven by
infrastructure investment, is pro-
jected to accelerate this year
helped by a large fiscal stimulus,
partly offsetting weakness in real
consumption growth, which has
suffered from subdued consumer
confidence in addition to the
resurgence of Covid-19 and as-
sociated mobility restrictions.
Given the projected sharp slow-
down in global growth, net ex-
ports are expected to play a
negligible role in supporting eco-
nomic activity.
Risks to China’s growth out-
look are unevenly balanced and
downside risks prevail. Econom-
ic disruptions due to strict Covid-
related mobility restrictions
Covid vaccine for animals launched
across major cities and
provinces pose a key downside
risk and could further postpone
T
AAT News Service
HE Union Minister for
Agriculture & Farmers’
Welfare, Narendra Singh
Tomar, launched animal vaccine
and other diagnostic kits devel-
oped by Indian Council of Agri-
cultural Research-National Re-
search Centre on Equines
(ICAR-NRC) at Hisar in
Haryana.
The Ancovax Vaccine on
Equines is an inactivated SARS-
CoV-2 Delta (Covid-19) vaccine
for animals. The immunity in-
duced by Ancovax neutralises
both Delta and Omicron variants
of SARS-CoV-2. The vaccine
contains inactivated SARS-CoV-
2 (Delta) antigen with alhydrogel
as an adjuvant. It is safe for
dogs, lions, leopards, mice and
rabbits.
“The Council’s scientists’ un-
paralleled contributions have
made the country succeed not
only in essential crops produc-
tion; but, in various fields of agri-
cultural and allied sciences as
well at the global level,” said Mr
Tomar, after launching the vac-
cine through video conferencing.
“It is due to the untiring con-
tributions of scientists that the
country stands self-reliant in de-
veloping its own vaccines more
rather than importing. This is re-
ally a big achievement. Under
the leadership of Prime Minister,
Narendra Modi, continuous work
is being done by the government
to improve the financial condition
of the rural population, poor peo-
ple and farmers and to raise their
standard of living and our scien-
tists have also contributed a lot
in this.
“The research work of our
scientists is commended every-
where, which makes us all proud.
During the Covid crisis which
disrupted even the developed
and technologically advanced na-
tions, we are proud that under
the leadership of Mr Modi, our
countrymen demonstrated an un-
paralleled vision of discipline.
®
the already delayed recovery of
consumption and services, dis-
courage private investment, dis-
rupt trade flows, and reduce
growth. Risks could also em-
anate from persistent stress in
the real estate sector, which
could trigger wider macroeco-
nomic and financial repercus-
sions. On the upside, if Covid-
19 is controlled effectively with
fewer restrictions, growth for the
full year could be higher than
currently projected, thanks to
the recently announced addi-
tional stimulus measures.
“In the short term, China
faces the dual challenge of bal-
ancing Covid-19 mitigation with
supporting economic growth,”
says Martin Raiser, World Bank
Country Director for China, Mon-
golia and Korea. “While the gov-
ernment has stepped up macro-
economic policy easing, the
dilemma facing decision-makers
is how to make the policy stim-
ulus effective, as long as mobility
restrictions persist.”
Over the medium term, there
is a danger that China will remain
tied to the old playbook of stim-
Wine industry gets boost at London fair
ulus-led investment to boost
economic growth, says the re-
port.
I
“High levels of indebtedness
AAT News Service
of corporates and local govern- ipated in London Wine Fair are metric tonne of alcoholic products
ments limit the effectiveness of – Resvera Wines, Sula Vine- to the world for $322.12 million
policy easing and store up further N a bid to give a boost to the yards, Good Drop Wine Cellars, during 2020-21. Major export
risks down the line,” says Ibrahim export of Indian wine, the Hill Zill Wines, KLC Wines, Soma destinations of Indian alcoholic
Chowdhury, World Bank Senior Agricultural and Processed Vine Village, Grover Zampa Vine- products in 2020-21 were – UAE,
Economist for China. Food Products Export Develop- yard, Plateaux Vintners, ASAV Ghana, Singapore, Congo and
The report stresses that struc- ment Authority (APEDA), which Vineyards and Fratelli Vineyards. Cameroon.
tural reforms to encourage a shift works under the aegis of the Given that India is the third-
Readers are advised to make ap-
towards consumption, address Ministry of Commerce and In- largest market for alcoholic bev- propriate enquiries before entering
social inequality, and rekindle in- dustry, facilitated participation of erages in the world, there are into any commitment or making
novation and productivity growth ten exporters in London Wine 12 joint venture companies hav- payments in relation to any adver-
– including in technologies vital Fair, 2022. The London Wine ing a licensed capacity of 33,919 tisement published in this paper.
for China’s dual carbon goals – Fair is regarded as one of the kilolitres per annum for the pro- Assignments Abroad Times shall
would help achieve a more bal- world’s most important wine trade duction of grain-based alcoholic not be held responsible for any con-
anced, inclusive, and sustainable events. beverages. sequences thereon.
growth trajectory for China. Indian exporters who partic- India has exported 2.47 lakh Publisher
Narendra Singh Tomar launches animal vaccine and kits
developed by Indian Council of Agricultural Research-National
Research Centre on Equines. The Council’s scientists’
unparalleled contributions have made the country succeed not
only in essential crops production, but in various fields of
agricultural and allied sciences as well at the global level
During this crisis, the PM also include CAN-CoV-2 ELISA Kit. different livestock species caused (ICAR) asserted the Council’s
did a great job of steering the It is a sensitive and specific nu- by Trypanosoma evansi. The dis- commitment to disseminate the
country's economy, while our sci- cleocapsid protein based indirect ease is prevalent in all the agro- various technologies developed
entists did wonders by success- ELISA Kit for antibody detection climatic parts of India. In India, by its scientists at the farmers’
fully developing vaccines in a against SARS-CoV-2 in canines. losses to livestock productivity doorsteps. This will help to realise
short time. The determination of There are no laboratory animals are estimated to be ` 44.740 bil- Mr Modi’s vision of lab-to-land
discipline and leadership of our required for the preparation of lion annually due to Surra. initiative.
country during the Covid crisis is antigens. The kit is made in The Equine DNA Parentage Atul Chaturvedi, Secretary,
admired all over the world today,” India and a patent has been testing kit is a powerful genomic Department of Animal Hus-
said Mr Tomar. filed for the same. No other com- technology for parentage analysis. bandry and Dairying, Ministry
Appreciating the Equine Re- parable kits for detection of an- The parentage among the horses of Fisheries, stressed that the
search Center, Mr Tomar said, tibodies in canines are available can be definitely established using new technologies and vaccines
the institute has developed six in the market. multiplex PCR technology to com- developed by the institute will
vaccines and 19 diagnostic tech- The Surra ELISA Kit is a suit- pare allele sizes. At ICAR-NRC help in early diagnosing and
nologies for the prevention of able diagnostic assay for Try- on Equines, an optimised 21 containing the spread of the
infectious diseases in equines panosoma evansi infection in DNA market panel is being used various diseases in livestock.
and other animals, out of which multiple animal species. The Sur- for parentage testing. The kits will enable to identify
four have been launched. ra is one of the most important Trilochan Mohapatra, Sec- DNAs of the particular Equines
The diagnostic kits launched haemoprotozoan diseases of the retary (DARE) & Director General with their parents, he said.