Pursuant to the Commission’s recommendations, the Government has already introduced a Bill seeking repeal of more than 150 Central Laws in the Parliament during its Winter Session.

    The two Acts, sought to be repealed by DCA, have outlived their relevance and usefulness in the context of the emerging globalisation of Indian economy and prevalence of the market economy.

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CENTRE TO FUND THE STATES TO SET-UP LABORATORIES FOR TESTING AYURVEDIC DRUGS

    The Centre has decided to fund the state governments to set up laboratories for testing Ayurvedic drugs and to give training to the drug inspectors in this regard in Gujarat Ayurved University, Jamnagar. While Addressing a Press Conference here today, Smt. Shailaja Chandra, Secretary to Department of Indian Systems of Medicines and Homeopathy in the Ministry of Health and Family Welfare has said that, Chairman, Scientific Advisory Committee has been requested to identify the areas of collaboration with United States of America in the field of Alternative Medicines.

    She has said that a request has been made to Director General, WHO during her recent Delhi visit, to setup its regional centre exclusively for promotion of alternative medicine in south -east asia region, to which she has assured to consider it.

    Department of Industrial Development has been requested to approach the World intellectual property rights for putting in the traditional medicines in the patent format. An expert committee has been setup involving National Informatics Centre, Council for Scientific and Industrial Research and Ministry of Industries, of which Department of ISMH is its nodal agency.

    As of now India exports ISMH Medicines as Herbal Food Suppliments to tune of Rs.500 Crores a year, whereas global annual turnover of herbal medicines is of the order of 62 billion US dollars. India is having huge potential for increasing the export of alternative medicines for which it will take two more years to complete the Pharmacopoeia of ISMH drugs to attain the level of global standards

    It will take two to three months time to have the abstract system of preliminary certification of ISM&H Drugs. Steps have been taken to enter into collaboration with allopathic institutions to mount the clinical trials on certain areas, such as disorders of liver, allergy, arthritis, Hyper tension, diabetes, memory disorders etc.

    An International Ayurvedic Conference will be held on 28-01-2000 at Chennai, she added.

ENCOURAGING RESULTS FROM HIV PATIENTS WHO ARE UNDER AYURVEDIC TREATMENT IN SURAT AND JAMNAGAR

    Dr. PNV Kurup, Vice Chancellor, Gujarat Ayurved University , Jamnagar has said here today in a joint press conference that 90 HIV Patients are getting treatment in Surat and Jamnagar from his University Hospital since November 99. Already 10 patients have started showing the symptoms of improvement from the Ayurvedic treatment. In another three to four months the final concrete results will emerge out.

    Over 200 scientific papers on Ayurvedic medicines have been presented in the international seminar on Ayurveda and Other Traditional Medicines Scope and Challenges in 21^st Century organised by his university at Jamnagar from 5to 7^th January. 70delegates from 18 countries are among the participants.

    United States, Japan, Australia, Germany ,U.K. and a few developed countries have approached the university to start courses in Ayurvedic education in their countries.

    Secretary Indian System of Medicine and Homeopathy , Smt. Shailaja Chandra also addressed the press conference.

RUSSIA REQUESTS FOR MORE AYURVEDIC PHYSICIANS FROM INDIA

    The Russian Government has requested for more Ayurvedic physicians to be deputed to Russia for providing treatment to patients in their hospitals. Russia has expressed immense satisfaction with the four physicians already working in Moscow. They had further requested Indian Government that the Russian Students be permitted to avail of Ayurvedic education in Universities in India.

    This was said by the Russian delegation who had been hereupto 13^th January had participated in the Gujarat Ayurved University’s International Seminar on Ayurveda and other traditional medicines, Scope and Challenges in 21^st Century held at Jamnagar, between 5-7 January.

    The delegation had met the Secretary of the Department of Indian System of Medicine & Homeopathy, Smt. Shilaja Chandra in New Delhi recently. During the meeting Dr. Rzhanitsyna N.F., Director, NAAMI and leader of the Russian delegation had further requested for deputation of medical teachers to Russia who would impart education in ayurveda to their allopathic doctors. The delegation also evinced keen interest in purchasing classical Ayrvedic medicines which have good quality and are well packaged.

    In the area of research they evinced interest in entering into clinical studies on the effectiveness of Ayurvedic treatment on the patients of Bronchial asthma and gastro enterologic pathology.

    Three institutes namely, IPGTR Gujarat Ayurved University, Jamnagar, CCRAS ( Central Council for Research in Ayurveda and Siddha), New Delhi and Faculty of Ayurveda, Benaras Hindu University, Varanasi have been identified for collaboration for research in Ayurveda with Russia.

    The Minister of State for Information and Broadcasting Shri Arun Jaitley released a book ‘Filmography Silent Cinema’ written by Dr. R.K. Verma here today. Speaking on the occasion, the Minister said that the book is like an encyclopedia on silent cinema. It is a rare collection of statistics, data and photographs of silent period. It has a rate piece of work because in the days of silent cinema there were not many ways of preserving the information and records as we have today.

    The book deals with this golden period of Indian Cinema from 1896 to 1934 and chronicles with over 150 rare photographs. As a precursor of modern cinema, the silent cinema’s contribution is path breaking. During the 35 years of silent cinema, a great number of films were made in Calcutta, Bombay, Poona, Nasik, Kolhapur, Hyderabad, Bangalore and Madras by a galaxy of film directors and producers and the screen performers became living legends during their lifetime.

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    The Finance Minister, Shri Yashwant Sinha has called for greater cooperation between India and Russia to broaden the base of trade profile and including cooperation in high-tech areas. Shri Sinha was addressing the 6^th Session of the Indo-Russian Inter-Governmental Commission (IRIGC), here today. Shri Sinha expressed happiness on the increased trade between the two countries during April-September period in the Financial Year 1999-2000. However, he felt that existing level of trade turnover between the two countries is not commensurate with the considerable potential that exist on both sides. Shri Sinha said , "The importance of the utilization of the rupee repayment debt funds for import into the Russian Federation of goods and trade related services continues to focus our minds. I would impress upon you need for a continuous mechanism for the utilization of funds on a firm, transparent, predictable, effective and timely basis". He said that unutilized accumulated funds have not helped in the promotion of bilateral trade .

    The Finance Minister who is also a co-chairman of the IRGC, said that tea and tobacco have been India's traditional items of export to Russia. He said that there has been some concern on the slow offtake of these commodities into the Russian market. Indicating that some proposals have been discussed in this connection between the two countries, Shri Sinha said that both India and Russia should move ahead to resolve these problems for stability and predictability and to ensure that Russian consumers get quality products. Pointing out that due to some restrictive provisions in the customs rules in Russia, commodities like tea and tobacco cannot take advantage of the scheme of consignment exports on rupee debt account. The Finance Minister requested Dr. Viktor Khristenko to intervene in resolving this issue to facilitate exports of these items. Shri Sinha expressed satisfaction that both the sides have agreed for a line of credit from the EXIM Bank of India for US $ 10 million. He said that the agreement will further facilitate India's exports to Russia.

    The Finance Minister said that there is a considerable potential for furthering Indo-Russian cooperation in the areas of diamond, gold, silver, agriculture, maritime transport and pharmaceuticals. He also said that vast opportunities exist in the power sector in India for the Russian companies. Shri Sinha lauded the Indo-Russian cooperation in the field of science and technology and said that the Integrated Long Term Programme (ILTP) of Cooperation in Science and Technology is the largest such programme of cooperation for both the countries. He also expressed happiness over the extension of ILTP by another 10 years with concentration on industrial realization of results and said that 132 R&D projects are currently under implementation and over 200 scientists have been visiting each year under scientific exchanges.

    Shri Sinha also emphasized that the working groups and sub-groups under the Commission should convene their meetings within a time-bound framework which would help the Commission to accord due attention to all important issues.

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    The interest rates on small savings instruments were last revised on 1.1.1999 to align them in line with the overall interest structure of the economy. The Government accepted the recommendation of a committee of experts on small savings for benchmarking of the interest rates on small saving schemes to the rates of similar instruments in banks/financial institutions. The committee had also recommended that this exercise be conducted on an annual basis.

    Small savings schemes offer a risk free investment with considerable tax incentives. Pursuant to reductions in other interest rates over the past year, the interest rates on small savings schemes at present are generally higher than those prevailing in the market on similar instruments. Thus it is necessary to reduce marginally the interest rates on small savings schemes.

    Consistent with the lower interest rates in public sector banks on term as well as recurring deposits, the rates of interest on similar instruments have been reduced. The rate on Post Office Time Deposits for 1, 2, 3 and 5 Years will be 8%, 9%, 10% and 10.5% respectively. Similarly the rate of interest on Post Office Recurring Deposits will be 10.5%.

    The rates of interest on Post Office Monthly Income Account, Kisan Vikas Patra, National Savings Certificate VIII Issue as well as National Savings Scheme 1992 have also been revised downwards taking into account the lower rates prevailing on the similar instruments offered by All India financial institutions. Also, the interest rates on these small savings instruments need to be discounted on account of the complete security arising from the sovereign guarantee they bear.

    The rate of interest on Post Office Monthly Income Account will be 11%. The 10% bonus on maturity in this scheme will continue as also the 5% discount on deposits in case of premature withdrawal before 3 years. The Kisan Vikas Patra will now double in six and a half years instead of six years. The pre-mature encashment values in respect of Kisan Vikas Patras have also been revised correspondingly. The National Savings Certificate – VIII Issue will now offer an interest of 11%. The rate of interest on National Savings Scheme 1992 will be 10.5%.

    The rate of interest on Public Provident Fund, where the income from interest is totally exempt from income tax, will be 11%.

    The above changes will be effective from 15.1.2000.

    In order to allow time for the various Post Offices and Public Sector Banks to make necessary arrangements for effecting the above changes, the acceptance of deposits in Post Office Time Deposits for 1, 2, 3 and 5 Years, Post Office Recurring Deposit, The Post Office Monthly Income Account, National Savings Certificate - VIII Issue, National Savings Scheme 1992, Kisan Vikas Patra and Public Provident Fund are being suspended with effect from 15.1.2000. These will be resumed as early as possible in different parts of the country and in any case not later than 01.02.2000.

    The Government have also decided to pass on the benefit of the lower interest cost on small savings schemes to the State/UT Governments by reducing the rate of interest on Special Securities of the State/UT Governments issued against small savings collections by 1%. Consequently, the rate of interest on Special Securities of the State/UT Governments will be revised from 13.5% to 12.5%.

    In addition, to further assist State/UT Governments, it has been decided that their share against the net collections under small savings schemes will be increased from 75% to 80% concomitantly. The last revision in this share was done in 1987.

    The US Treasury Secretary, Mr. Lawrence H. Summers is coming on a 4-day visit to India. Being the first, after he assumed charge as US Treasury Secretary, this tour assumes importance in view of the growing Indo-American economic partnership. During his visit, Mr. Summers will be visiting Mumbai, Delhi and Bangalore.

    Mr. Summers will be calling on the Prime Minister, Shri Atal Bihari Vajpayee and Finance Minister, Shri Yashwant Sinha tomorrow. With the Indian economy growing at a rapid rate, newer opportunities for private investment and mutually beneficial trade is opening up. This visit is likely to help in reviving the Indo-US Economic and Commercial sub-commission, which has not met since 1996. India may also impress upon USA, the need to prune the list of entities to which US exports have been restricted. The recent decision of US in removing 51 government organisations, research institutions, public sector units and private companies from this ban list has been appreciated by India. Besides, India is likely to urge US to lift restrictions on lending by international financial institutions for non-humanitarian purpose.

    USA being the largest trading partner accounting for 21.78 per cent of India's exports and 9 per cent of imports, trade issues are likely to be the highlights during the discussions. India is likely to urge US to resume the facility of General Scheme of Preference (GSP) to a large number of Indian projects.

    The other issues likely to be discussed are short-term visa for IT experts from India & linking of trade issues with child labour under the WTO regime.

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ADB PRESIDENT TO MEET PM AND FM DURING HIS VISIT TO INDIA

    The President of the Asian Development Bank (ADB), Mr. Tadao Chino is reaching New Delhi on a 6-day visit tomorrow. During his stay in India, he will call on the Prime Minister, Shri Atal Bihari vajpayee and meet the Finance Minister, Shri Yashwant Sinha.

    Mr. Chino will also visit Jaipur, Gandhinagar and Bhopal to meet the Chief Ministers of Rajasthan, Gujarat and Madhya pradesh. ADB has provided assistance each of US $ 250 million to madhya Pradesh and Gujarat for Public Resource Management Programme of the two States and US $ 250 million for urban development in six towns of Rajasthan.

    The Asian Development Bank is a multilateral development finance institution whose stock is owned by 57 member countries including India which is also the founder member of ADB. The bank engages in a wide range of social and economic development activities aimed at improving the welfare of the people of the region. Its strategic objectives are to foster economic growth, reduce poverty, support human development including population planning, improve status of women and protect environment.

    Mr. Tadao Chino will be accompanied by Mr. Yoshihiro Iwasaki who has recently taken over as Director (programmes) West in ADB, Mr. C. Ramachandran, Executive Director in ADB for India and other bank officials.

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    The Minister of Environment and Forests, Shri T.R.Baalu has called for synergising our efforts for giving our future generation a clean and green environment essential for healthy living. Speaking at the inaugural function of Oil Conservation Fortnight-2000 here today, Shri Baalu said that the immediate task before us is to bring about changes in the attitude among the masses so that all possible efforts to conserve environment oil are made.

    "The entire process of our development has been at the cost of natural resources, which we have exploited without taking the better route of sustainable development. Now we are faced with the threat of excessive accumulation of Green House Gases and noticeable reduction in the finite natural resources for the coming generations", the Minister said.

    Shri Baalu observed that due to ever increasing use of fossil fuels, the concentration of carbon dioxide which is one of the green house gases has been continuously going up in the earth's atmosphere. This is likely to result in the increase in atmospheric temperature commonly known as global warming. This could lead to adverse effects on agriculture, forestry and water resources. It is estimated that doubling of present CO2 concentration in the atmosphere would result in 1-3 degree C increase in earth's temperature by the year 2050. This would lead to either rising or falling sea levels depending upon the response of the climate system, altered precipitation patterns, increased storm frequency and damage to the natural eco systems.

    The Task Force for Generating Additional Resources for Railways through Non-traditional Modes has recommended that the Railways could generate additional revenues of upto Rs.1000 crore in the medium term by judiciously exploiting some of the resources which were hitherto not explored.

    The Task Force, set up by the Railway Minister Ms.Mamata Banerjee, has suggested that apart from schemes like Own Your Wagon and Build-On-Lease-Transfer (BOLT) scheme, Railways could generate additional revenues through use of their land and air-space, leasing ‘right of way’ by giving optic fibres to service providers and commercial publicity and ads not only at the stations but also on wagons, passenger trains and level crossings etc. The Railways could also identify advertising sites along with the railway track for mopping up more revenue, it has proposed.

    The Own Your Wagon Scheme is already in operation since 1992,and holds the prospects of attracting Rs.250 to 500 crore per annum by the wagon builders directly. At present, the scheme is attracting investment of Rs.38.48 crore which is likely to go up to Rs.85.62 crores during the next financial year. The Task Force has also suggested that the Build-On-Lease-Transfer scheme may be made more attractive. According to the Task Force, the commercial use of railway land and air space has to be given a greater thrust. Detailed conceptual plans may be worked out after carrying out study of certain identified stations/ land sites for their development as office complexes and spaces for budget hotels and other areas through private participation and consultancy.

    Optical fibre cable projects are another important area for private participation and generation of additional revenues. These projects have the potential of not only providing the Railways free telecom facilities but also a share and profit in the commercial exploitation ,the spare capacities to private channels, the report says

    The Task force has suggested that the commercial publicity could be made more innovative and apart from railway stations and adjoining areas freight wagons, passenger trains railway level crossings and advertising sites along railway tracks can help generating and additional revenue of upto Rs.100 crores per annum.

    The Task Force consisted of Shri Shanti Narain, Member Traffic, Railway Board as Chairman. The other Railway Officials included in the Task Force were Dr. P.K. Goel, S/shri P.N.Shukla, Sudhir Mathur, H.K.Jaggi, B.D.Garg. Besides, Shri A.Ghose, a Journalist ,S/shri Sidhartha Birla, of the Federation of Indian Chambers of Commerce and Industry, Vinayak Chaterjee, of the Confederation of Indian Industries (CII) and Shekhar Bajaj, of the ASSOCHEM were members as Representatives of Chambers of Commerce. Its report was presented to the Railway Minister Ms Mamata Banerjee on January 14,2000 at the pre-budget Conference on Railway Budget organised by the CII.

    The Government is examining the report and will come up with necessary programmes and schemes in due course.

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    Minister of State for Power, Smt. Jayawanti Mehta has appreciated the efforts of Rural Electrification Corporation (REC) to expedite rural electrification in the country. Talking to executives of the Corporation when she visited REC's Corporate Office here recently, she reviewed the activities of REC. She said that she was happy to note the encouraging response of SEBs to new products like projects loans for installation of energy meters, transformers etc. and comprehensive system improvement projects achieved at improving the quality and reliability of power supply in rural areas. Smt. Mehta commended the performance of REC and the quantum jump it has made in the last few years in its financial operations and increased productivity.