The Investors Protection Cell in the Department of Company Affairs settled 5279 complaints from April 1,1998 to March 31,1999. It processed 9127 complaints from investors against the companies during the year. This has been stated in the 43^rd Annual Report on the working and administration of the Companies Act, 1956 for the year 1998-99, which was laid on the table of both the House of Parliament by the Minister for Law, Justice and Company Affairs Shri Ram Jethmalani on December 14,1999.

    During the year under review, 147 errant companies were taken up for penal action on the basis of investors’ complaints relating to non-refund of application money, non-receipt of shares and debentures , and non-payment of unclaimed dividends. The Government issued orders to initiate prosecution proceedings of these 147 companies.

    The Investors Protection Cell is fully computerised and provides an effective mechanism for redressing investors grievances. Investors’ complaints received in the Cell are processed immediately for action by referring them to the concerned companies for redressal. An acknowledgement is issued to the complainant automatically. Subsequently, action taken as informed by the company is also communicated to the complainants.

    Government have taken several measures to encourage women entrepreneurs to set up small scale and micro enterprise. These, inter alia, include equity assistance under Mahila Udyam Nidhi Scheme operated by SIDBI, Trade Related Entrepreneurship Assistance and Development programme for developing and promoting entrepreneurship amongst women, EDPs specially designed for women entrepreneurs, micro credit scheme of SIDBI for promotion of rural enterprises (beneficiaries covered being mostly women), age relaxation under Prime Minister’s Rozgar Yojana Scheme and Marketing Development Fund for women entrepreneurs set up by SIDBI. Various initiatives taken by the Government in this area are an outcome of consultations held with and feedback received from various quarters, including State Governments.

    The investment ceiling for SSI units was raised to Rs. 300 lakh from Rs. 60 lakh on December 11, 1997. Government have decided to reduce the SSI investment limit to Rs. 100 lakh, which was also announced by the Prime Minister at the Laghu Udyog Bharati Function held on 21.8.1999. notification to that effect is being issued.

    The Department of Atomic Energy is, at present, carrying out investigations in several parts of India to characterise the different geological settings that can be considered suitable for siting the repository. Significant amount of work remains to be done before any decision can be taken to determine the suitability of any site. Further, if and when a decision has to be made it would be at the highest levels of both the Central and State Governments concerned. As such the stories that have been appearing in the Press about a decision having been taken to dispose of radioactive wastes in the States of Rajasthan and / or Madhya Pradesh are incorrect and Government would like to dispel any misapprehension in the minds of the public at large and the State Governments in particular.

    Clarifying this in Rajya Sabha here today in written reply to a question, Smt. Vasundhara Raje, Minister of State in the Department of Atomic Energy, further said that the long term isolation of radioactive wastes has been engaging the attention of the nuclear community all over the world including India for several decades. It is universally agreed that the best possible option to isolate radioactive wastes from the human biosphere over extended periods of time would be to vitrify the high level wastes, have them cooled under surveillance in controlled conditions for a few decades and finally emplace in deep geological repositories which have to be chosen with great care and after extensive studies. With this approach towards safe disposal of radioactive waste, any fear of the hazard of the waste to the people is unwarranted. The very basis of the approach of waste disposal is to ensure safety of public and the environment.

POWER THROUGH NON-CONVENTIONAL ENERGY SOURCES

    The total installed capacity of power projects based on non-conventional energy sources is about 1600 MW which is 1.67 per cent of the total installed capacity in the country, as on December 1, 1999. The percentage of power produced through non-conventional energy sources in States such as Nagaland, Arunachal Pradesh, Manipur, Mizoram and Sikkim is quite high and varies from 58 per cent to 24 per cent mainly on account of high small hydro power capacities. For Tamil Nadu, it is 14 per cent on account of high wind power installed capacity. In the other States, the percentages are quite low.

    The cost of power generation from non-conventional energy sources varies from Rs. 2 to Rs. 4 per unit depending upon the technology, location and taking into account the available incentives. The average cost of energy generated from new hydro power projects comes to Rs. 1.69 per unit; the cost for new thermal power projects is Rs. 2.25 to Rs. 3.78 per unit depending upon the location and type of fuel used; and, Rs. 1.51 per unit for nuclear power projects excluding return on equity and levies.

    A total capacity of about 132 MW was installed in different States during 1998-99 and an aggregate capacity of about 130 MW has been installed during 1999-2000, upto December 1, 1999. No state-wise targets are fixed. The projects are based on the potential, Central fiscal incentives and the policies announced by the states.

    This information was given in the Lok Sabha today by the Minister of State for Non-Conventional Energy Sources (Independent Charge), Shri M. Kannappan in a written reply to Shri Ajay Singh Chautala and Dr. V. Saroja.

'10'

    Smt. Asha Das, Secretary, Ministry of Social Justice & Empowerment has stressed the need to improve the management of Wakf properties in the country. She was speaking at the meeting of State Government Secretaries incharge of Wakf and Minority Affairs and Chief Executive Officers of Wakf Boards here today.

    Smt. Asha Das said that it was a matter of concern that Wakf properties were either under-utilised or misutilised . She pointed out that the returns from the Wakf properties were not adequate and despite having properties of over 100 crore rupees, the management has failed to raise enough money to pay the salaries of its employees.

    The Secretary said that there was an urgent need to supplement the efforts of the Government by other institutions and individuals and the Wakf Boards could play a vital role if their income was enhanced by providing them better administration.

    Smt. Asha Das stressed that the proper management of these properties was essential for achieving the desired objectives of social, educational and economic development of the community. She said that the basic problems being confronted in the management of Wakfs were massive encroachments, illegal sale and misuse of Wakf properties. She said that although the provisions have already been made in the new Wakf Act to overcome these problems, the provisions could be effective only after the State Governments constitute the Wakf Boards under the new Act and regularly monitor and coordinate the functioning.

    The Secretary also expressed the concern that the Wakf properties in some large States like U.P. were not being managed properly and need immediate improvement in their management to ensure better development.

    The meeting has been called to review the implementation of the Wakf Act, 1995, improvement of financial condition of State Wakf Boards, remittance of 1% statutory contribution by the State Wakf Boards and development of Wakf properties.

    Government proposes to develop 13 fishing harbours in the country during the Ninth Plan period. These are Agardanda in Maharashtra, Okha and Umbergaon in Gujrat, Rameshwaram in Tamil Nadu, Gangolli and Alvekodi in Karnataka, Harwood Point and Diamond Harbour in West Bengal, Muthalapozhy and Ponnani in Kerala, Chicalim Bay in Goa, Karaikal in Pondicherry and Krishnapatnam in Andhra Pradesh. Giving this information in a written reply in the Rajya Sabha today the Union Agriculture Minister Shri Nitish Kumar said these harbours will be developed at an estimated cost of about Rs.224 crores. He said that the development of these fishing harbours is based on the recommendations of the Central Institute of Coastal Engineering for Fishery at Bangalore.

    The achievements accomplished in production of foodgrains during 1997-98 and 1998-99 were 192.43 million tonnes against the target of 200 MT and 202.54 million tonnes against the target of 204 MT respectively. According to advance estimates, the production of kharif foodgrains during 1999-2000 is likely to be 102.70 million tonnes. Rabi foodgrains crops prospects will be tracked sometimes in the month of January 2000. The target fixed for 1999-2000 is 210 MT.

    To increase production and productivity of agriculture crops, the Government is implementing centrally sponsored Integrated Cereal Development Programmes in Rice/Wheat/Coarse Cereals Based Cropping System area, Accelerated Maize Development Programme, National Pulses Development Project, Intensive Cotton Development Programme, special Jute Development Programme and sustainable Development of Sugarcane Based Cropping System.

    Under these programme/projects, incentives are provided to farmers for use of high yielding varieties of seeds, application of integrated pest management, propagation of scientific water management including micro irrigation, improved farm implements. Besides, field demonstration on farmers’ holding including training of farmers and farm labourers are organised for effective transfer of technology.

    This was informed by Shri S.B.P.B.K Satyanarayan Rao, Minister of State for Agriculture today in Rajya Sabha in a written reply to a question of Shri Suresh Pachouri.

NEED TO BALANCE DEVELOPMENT WITH ENVIRONMENTAL PROTECTION STRESSED

    Malaysian Minister for Works Dato Seri’ S. Samy Vellu called on the Minister for Environment & Forests, Shri T. R. Baalu, here today. During the meeting, both countries – India and Malaysia – underlined the need for cooperation, particularly in the field of forest research and greening of urban areas and highways.

    Evincing keen interest in the developmental works currently going on in India, the visiting Minister informed his Indian counterpart that Malaysia is planning to invest in the development of infrastructure in India, particularly in the field of construction of highways. He also indicated that Malaysia would take into account India’s concerns about environmental protection while developing those projects in the country.

    Recalling the long-lasting friendly relations between the two countries, Shri Baalu stressed the need for proper afforestation along the highways. He apprised the visiting dignitary of various measures taken by India to reduce and control pollution as well as Government’s resolve to balance the need for development with environmental protection. The Minister also called for more frequent interaction between the two countries.

'31'

    The National AIDS Control Project-II was formally launched today at a function in Vigyan Bhavan. The AID-II Project with an outlay of Rs.1400 crore, which is being implemented by the National AIDS Control Organisation, is being supported by the World Bank, USAID and the Department of International Development.

    The Chief guest, Shri K.C.Pant underlined the need to continue sustained efforts in the prevention and control of HIV/AIDS in the country. He said that despite ready availability of drugs and other advances in the field of public health, the challenge of HIV/AIDS would continue. He urged that efforts which are consistent with and supportive of our social and cultural ethos should be taken up. He said that the prevalence rates in India were lower than those in other parts of the world but this should not lull us into complacency. He said that the 9^th Plan envisages focussed attention on more effective implementation of the programme for ensuring safety of blood/ blood products, increasing the reach and spread of HIV testing network, augmenting STD/HIV/AIDS care facilities, improving hospital infection control and waste management so as to reduce accidental HIV infection, enhancing efforts to improve HIV/AIDS awareness, counselling & care and strengthening sentinel surveillance.

    In his address, the Union Minister of State for Health and Family Welfare, Shri N.T.Shanmugam highlighted the success of the Family Health Awareness Campaign which was adopted as a strategy to reach every household in the country, both in rural and urban areas, to promote reproductive health among men and women. This year the campaign has been taken up from December 1-15, 1999 in 50% of the districts in the country covering a population of about 250 million people. The Minister issued a strong warning to health practitioners about the refusal of admission to AIDS patients in hospitals. He called for intensive training not only to doctors but also of nurses and para-medical staff. The Minister appealed to industrial organisations to come forward and actively response to the challenge as their counterparts have done in Thailand and Malaysia. The US Ambassador to India, Mr. Richard Celeste reiterated the continued support of USAID to the National Programme, specially in the States of Tamil Nadu and Andhra Pradesh. He also made a reference to the recent statement of President Clinton of USA that intellectual property rights should not be a barrier in making drugs available to fight the HIV virus.

    The Head, Department for International Development, Mr. Robert Graham Harrison alluded to special environment such as poverty, disadvantage and exclusion in which HIV flourishes. He felt that political ownership of the problem needs to be direct and clear. Resources must be concentrated on strategies which have worked and which reach out to the most vulnerable. A message from Dr. Peter Piot, Executive Director, UNAIDS, was read out on the occasion. Dr. Piot said that the India programme is a landmark in the global efforts to combat HIV/AIDS. Ms. Rody Lamingmawii, an HIV + woman and a Peer Educator from SHALOM, and NGO in Manipur, gave a moving account of her personal experience in dealing with HIV/AIDS in her family and community.

    Mr. Peter Heywood laid emphasis on the spirit of partnership that is necessary to develop a truly collaborative response to the epidemic in India. He complemented the National AIDS Control Organisation for its strong leadership and bold decision to devolve responsibility to the State. He also underlined the importance of greater capacity and commitment at the State level and deal with the emerging challenges of the epidemic in the country.

    Secretary (Health), Shri Javed Chowdhury underlined the importance of establishing linkages with the primary health care system so that HIV/AIDS is not taken up as a uni-dimensional programme but involves other departments and ministries which work for the social upliftment of the downtrodden.

    In his address, Dr. S.P.Agarwal, Director General of Health Services, said that active measures must be taken up to develop an indigenous vaccine for HIV/AIDS.

    The Minister of Communications, Shri Ram Vilas Paswan will be releasing a commemorative postage stamp on Saturday, the 18^th of December 1991 and will present the same to the Chief Justice of India, Dr.A.S.Anand. The stamp, being issued by the Department of Posts (DoP), is in recognition of the strong support lent to the efforts of the Government by various individuals and organisations. The stamp is in the denomination of Rs.3/-.

    The commemorative stamp is to acknowledge the yeoman service undertaken by the Family Planning Association of India (FPAI), a Non-governmental Organisation (NGO). Today, the FPAI as it is popularly known, has 39 branches, 20 projects and 3 area projects spread across the length and breadth of the country.

    As a leading national family planning NGO supporting the Government programme, FPAI has over the years created awareness of population, reproductive and sexual health, youth concerns, and women's empowerment so as to widen its support and strengthen its base within the country. FPAI plays a catalytic role by mobilising other NGOs and assisting them in making family planning an integral part of their work. The recent formation of the national network of NGOs numbering over 2000 is carrying forward this activity.

    Recently, the Ministry of Health and Family Welfare has introduced a new Reproductive and Child Health Programme, following on its Child Survival and Safe Motherhood programme and the target-free approach, and the paradigm shift generated by the International Conference and Population and Development in Cairo in 1994. FPAI too has responded enthusiastically to Reproductive Health needs providing the entire gamut of health services required in individual's life cycle. It maintains high Quality of Service Delivery to make it more user-responsive. FPAI's network of 189 clinics and mobile service units provide a range of high quality contraceptive services, including services for men. The ultimate objective of all activities undertaken by the Association is to help improve the quality life of all people.

    The First Day Cover alongwith the information sheet will be available on sale at all Philatelic Bureaux/Counters and at selected Post Offices.

    The Centre has banned the immigration of women workers for employment as housemaids in Kuwait from June this year. A similar ban has been put on male domestics. The Minister of State for Labour Shri Muni Lall informed the Rajya Sabha that the step was taken on receiving complaints from women emigrants in Kuwait about ill-treatment and exploitation. He said the concerned authorities have been instructed to exercise more vigil while examining the immigration documents of women emigrants.

    There are more than 29 lakh Indian workers employed in Gulf countries. The problems faced by Indian workers in foreign countries are solved with the help of concerned Indian Missions and local recruiting agents who are instrumental in their employment abroad. The highest number of Indian workers numbering about 12 lakh are in Saudi Arabia. The number of Indian workers in each of the Gulf countries is as under:

    The Manisana Wage Board for journalists and non-journalists is expected to submit its tentative proposals by the end of this month. The Minister of State for Labour Shri Muni Lall informed the Rajya Sabha that the tentative proposals would be published for inviting comments and objections, if any, by the concerned parties within 4 to 6 weeks. The Board will thereafter hold oral hearings before finalising the report. Shri Muni Lall said that no time frame had been fixed for the submission of the report at the time of the constitution of the Board in September, 1994. He said that Government has been extending all cooperation to enable it to submit the report.

jjj

'42'

    Hindustan Organic Chemicals Ltd. (HOCL) has achieved Y2K readiness. It is now compliant for a smooth changeover to the new millennium to provide continued service to all its stakeholders.

MALAYSIAN MINISTER MEETS POWER MINISTER

    His Excellency Mr. Dato Samyvellu, Malaysian Minister for Works today called on the Power Minister, Shri P.R. Kumaramangalam Smt. Jayawanti Mehta , Minister of State for Power and Shri V.K. Pandit, Power Secretary were present at the meeting. The Indian Ambassador in Malaysia was also present at the meeting.

    The Central Government has declared the India Government Mint, Hyderabad as a public utility service for the purposes of the Industrial Disputes Act, 1947. In a Notification issued here today the Ministry of Labour said that the industry will be a public utility service for the purpose of the said Act for a period of six months with immediate effect.

'22'

STATUS OF Y2K PREPAREDNESS

    The High level Action Force under chairmanship of Shri M.S. Ahluwalia, Member Planning Commission submitted its Report on 18^th October, 1999. Since then, the Cabinet Secretary had a number of review meetings. The follow-up action is being constantly monitored by Secretary, Ministry of Information Technology. The High Level Action Force is also reviewing the latest position periodically. The latest status of preparedness including contingency planning and setting up of National Control Room was reviewed in a meeting of the Action Force this morning.

    The main highlights of the latest status of preparedness on Y2K in the country are :

    All the 11 key sectors are Y2K ready and fully geared up to ensure smooth transition into the new millennium.

ELEVEN CRITICAL SECTORS

    Detailed sectoral contingency plans have been put in place.

    All the private sector telecom operators - both basic as well as value added services are also Y2K ready. The Govt. Sector i.e. DOT, VSNL, MTNL etc. had become Y2K compliant much earlier on schedule.

    The entire Ports sector has become Y2K ready. The Jawahar Lal Nehru Port Trust (JNPT) where external audit was underway has also reported complete Y2K readiness.

    The entire banking sector is Y2K ready. Hard copies of the accounts are available to individuals/organisations on demand from 15^th December, 1999 onwards. Central Govt. employees would get their salaries on 24^th December, 1999.

    The entire Petroleum & Natural Gas sector is Y2K ready. The Gas Sweetening Plant at Hazira has also declared Y2K readiness.

    The National Control Room (NCR) has been set up in Delhi on 15.12.99. It is based in the headquarters of NIC in Delhi. It will become operational from 10.00 AM on 28.12.99 and would be in place till 8.00 PM on 03.01.2000. The central objective of the NCR is to provide one point information dissemination and management facility regarding state of year 2000 transition in India. It will function around the clock. It will be manned by specially trained personnel. One senior level expert from each of the priority sectors would be available in the control room throughtout the transition period to facilitate processing of information.

    The National Control Room will be connected to all the control rooms of the 11 critical sectors. The NCR would also be connected to all the State and district headquarters through NICNET. The line agencies of each Department/sector would be reporting the progress to the sectoral headquarters with a copy to NCR. The sectoral control rooms would initiate the necessary corrective action accordingly and report the status of follow-up action to the NCR.

    The NCR would be in touch with the control centres of the rest of the world. As New Zealand and Australia are the first countries to experience the transition into the new millennium, the information received from them would be shared with everyone immediately on receipt.

    The Confederation of Indian Industry (CII) would also be setting up a central control room to coordinate with the private corporate sector. This control room would be linked up with the NCR.

    The Press Information Bureau (PIB) based on the information received from the NCR and other sources would be briefing the press regularly on each day during the roll-over period. PIB would be making the necessary arrangements in this regard. The Ministry of Information Technology would be coordinating the entire exercise.

    The Urban Employment and Poverty Alleviation Minister, Shri S.S. Dhindsa has said that special schemes have been approved for rehabilitation of the victims of recent cyclone in Orissa with loan assistance of Rs.625 crores from HUDCO. This is in addition to the earlier sanctions approved by HUDCO for Rs.487.50 crores, totalling to a cumulative sanction of Rs.1112.50 crores for the rehabilitation work in Orissa. This would help construction of about 2,75,000 houses in affected areas. The Minister held a meeting with the senior officials of the Ministry , here today.

    According to Shri S.S. Dhindsa the sanctions made included salary linked 'House Building Advance' scheme for State Government Employees with HUDCO's support of Rs.200 crores which would benefit 40,000 State Government employees. This was further to the earlier sanctions under the same scheme, which provides for an assistance of Rs.300 crores for giving HBA assistance to 60,000 employees, totalling to a loan assistance of Rs.500 crores for providing HBA assistance to 1,00,000 State Government Employees.

    Further to the earlier sanctions of the scheme for construction of 75,000 units with unit loan amount of Rs.25,000 totalling to Rs.187.50 crores by Orissa Rural Housing and Development Corporation, the Government of Orissa had requested to increase the number of units to 87,500 and also to increase the unit loan amount to Rs.35,000. Accordingly, the additional loan of Rs.118.75 crores has been sanctioned. With the above, ORHDC would be availing HUDCO loan assistance of Rs.306.25 crores for construction of 87,500 EWS houses.

    Another scheme included Credit Linked Housing Scheme to be implemented through the Collectorates involving construction of 87,500 units with loan of Rs.35,000 each amounting to Rs.306.25 crore.

    Cumulatively, the sanctions so far would contribute the construction of 2,75,000 houses with HUDCO's loan support of Rs.1112.50 crores. The Govt. of Orissa has also decided that all the new constructions should be constructed using cyclone resistance technologies.

    Further, in order to disseminate the cost effective technologies which are cyclone resistant and which could withstand any future fury of the nature, HUDCO has got printed about 2 lakhs copies of pamphlets indicating 'Dos and DON'ts' for use in reconstruction of Cyclone resistant houses. These pamphlets are being distributed in the affected areas for creating awareness among the general public regarding use of simple features that needs to be incorporated for making their houses disaster resistant.

    In addition, HUDCO would also be establishing 10 Special Building Centres in the affected districts for providing gross root level mechanism for transfer of these technologies to the local artisans through sustained training, production of cost effective building materials and to provide guidance. HUDCO had earlier sanctioned 5 Special Building Centres with its grant-in-aid assistance of Rs.15 lakhs each amounting to Rs75 lakhs. Further, on request from the State Government has decided to establish 5 additional Building Centres with HUDCO's grant assistance of Rs.5 lakhs each totalling of Rs.25 lakhs. In addition, another 10 Building Centres would be considered under the Rural Builidng Centres Scheme of the Ministry of Rural Development with a grant-in-aid assistance of Rs.15 lakhs each amounting to Rs.150 lakhs. The total Grant-in -aid assistance for the 20 Special Building Centres to be established in the affected districts would, therefore, be of Rs.2.50 cores.

    The Minister said, HUDCO would also be adopting 4 villages as 'Adarsh Gram' (Model Village) for integrated development to serve as a live example for replication in the other areas. HUDCO would be providing grant assistance of Rs.35 lakhs each under the scheme with total assistance of Rs.1.40 crores.

    The Minister for Human Resource Development and Science and Technology Dr. Murli Manohar Joshi categorically said here today that the Government will not hand over education to the market forces. He said it is the mind set which should govern the market forces and not vice-versa. Dr. Joshi was inaugurating a two-day national seminar on the "Role of Higher Education in Society" organised by the Federation of Central University Teachers’ Association. Referring to the alleged entry of foreign and fake universities in our educational system, the Minister said that a UGC Committee is looking into it and action would be taken on the basis of the Committee’s Report.

    Turning to mobilisation of more resources for education, Dr. Joshi said that a special cess needs to be imposed to achieve this. He felt that at least 10% of the Gross Domestic Product (GDP) should go to bring about higher standards in our educational set up. He said that at present only 6% of the GDP is spent on education, 3.5% from the Government side and 2.5% from the private sector. He pointed out that the Ministry of HRD, the University Grants Commission and the Teachers’ Association must collectively find solutions to problems in the way of higher education including mobilisation of additional resources. He said his Ministry is prepared to have a dialogue with the Association at any time to solve their problems. He pointed out that politicisation of any issue will not pay.

    Speaking about improvement in higher education, Dr. Joshi underscored the need for a synergy between the university community and the industry community. The universities must produce talents that are required by the industry for further economic progress. The Central Universities must become angels of social transformation to build a first class education system in the country. The curricula must reflect the aspirations and the needs of the students and the society. Backward districts must be paid more attention while formulating programmes and policies concerning education, he said.

    The minister also spoke of the need for an economic and financial discipline in the system and all fiscal irregularities in the central universities must be checked. He said "Accountability, Accessibility and Excellence" should be the motto of the central universities. He assured the Federation that the Government will positively look into the recommendations of the Seminar.

'16'

    In a move aimed at boosting investments from Germany in the country and making preliminary information available to German investors in their language, the Ministry of Commerce and Industry released the German version of "India Investment Guide" and the "SIA Website" here today. Dr. Raman Singh, Minister of State for Commerce & Industry, officially released the Investment Guide and the Website in the presence of German Ambassador in India and senior officials of both the countries.

    The Investment Guide and the Website would have the following documents in German:

• Manual on Industrial Policy and Procedures in India
• A booklet on "India-A Profile"
• Entry strategy for foreign investors
• An introduction to Secretariat of Industrial Assistance (SIA)
• Contact addresses in SIA

    The publication is available in print as well as in CD-ROM apart from being available on the SIA Website.

    Of the total FDI approvals during the last 8 years, Germany accounts for about 3.8% with FDI approvals of US $ 2.24 billion. The top sectors attracting FDI from Germany are, electrical/electronics equipment, metallurgical industries, chemicals (other than fertilisers), transportation and fuels. In the last 8 years, Germany has been granted 889 technical collaborations which nearly 14% of the total technical collaborations in the country. The major German companies which have invested in India are Osram Gmbh., Ferro Stal Aktleng Esslischart, Siemens AG etc.

    The two-day meeting of Second National Consultation on Preparation of the Framework for Action for India Water Vision - 2025 began here today. The meeting was inaugurated by the Union Minister for Water Resources, Shri C.P. Thakur. The Minister of State for Finance, Shri Balasaheb Vikhe Patil, former Union Minister and Member Parliament Shri Y.K. Alagh and the Secretary in the Department of Water Resources, Shri Z. Hasan were present on the occasion.

    In his presidential address, Shri B.V. Patil emphasised the need to consider water as a means for economic development of the country. He expressed concern that even at the doorsteps of the next millennium the country is facing poverty, environmental pollution and water scarcity. He urged the organizers of the function to lay special focus on "people's participation" in water management as an integral part of all their action plans. The Minister also said that a meeting of all NGOs active in this field should be called immediately and their field experience and knowledge taken advantage of in formulating the final strategy for the forthcoming meeting of World Water Forum at Hague. Shri Patil said that politics of discordance should be kept aside in all issues relating to water.

    Earlier, in his inaugural speech, Shri C.P. Thakur said that the meeting was timely and Water Vision for 2025 is the only way for safe survival of mankind. He also said that the Government is working on a project to interlink different rivers so that water can be utilised for development of drought-prone areas. He appealed to the judiciary to dispose off all water/river dispute cases quickly to facilitate planned development of water resources in the country.

    The union Minister of State Shri Balasaheb Vikhe Patil has said that though India wants to enrich its culture by interacting with the alien culture, it should not get itself blown off its feet by the sheer velocity of such cultural winds. He hoped that Indian media is well equipped to face newer challenges brought about in by the information explosion in the next millennium. He was addressing the gathering at the Annual Conference of Newspaper Association of India, here today. The Minister also urged the Small and Medium Scale Newspapers to inform and educate general public about various issues and congratulated them for creating a national platform to put forth their views before the authorities.

'15'

    The Union Minister of Finance, Shri Yashwant Sinha who is currently in Berlin for the G-20 Finance Ministers' Meeting called on the Minister for Economics and Technology of Germany, Dr. Werner Mueller, today. Dr. Mueller is also the Chairman of the High powered Indo-German Joint Commission. Both the leaders discussed the recently concluded WTO talks in Seattle the impact of breakdown and possible measures for resolving the deadlock. The recent trends in Indo-German commercial, economic, scientific & technological cooperation and scope for expanding cooperation into new areas also figured in the discussion. Shri Sinha discussed with his German counterpart the constraints faced by German companies desirous of expanding their activities and investing in India and the ways to resolve these. Shri Sinha apprised Dr. Mueller on the latest developments in process of economic reforms in India. In order to further the Indo German economic and commercial ties, both the leaders agreed to hold the meeting of the Indo-German Joint Commission in Berlin on April 10 and 11, 2000. The last meeting of the Joint Commission was held in New Delhi in January 1998. Both sides agreed that a high powered delegation from Indian industry would visit Germany at the time of the Indo-German Joint Commission so that issues of concern to industry of both sides and proposals for cooperation in new high technology areas could be addressed during the Joint Commission's meeting.

    The talks between the Finance Minister Shri Yashwant Sinha and the German Minister of Economics were marked by warmth and cordiality. The German delegation included Mr. Von Dcwitz, Secretary in the Federal Ministry of Economics. The Finance Minister was accompanied by Ambassador, Shri Ronen Sen and Additional Secretary in the Finance Ministry, Shri V. Govindarajan, and other officials.

'15'

    The Union Minister of Finance, Shri Yashwant Sinha has called upon the G-20 countries to build a niche for its role in the emerging new International Financial Architecture without diluting the roles of the Brettonwoods Institutions. Addressing the Meeting of the Finance Ministers and Central Bank Governors of the Member countries of G-20 in Berlin today, Shri Sinha said that the Group, being an informal one, should not take decisions but should attempt at building consensus on issues of importance.

    Shri Sinha said, "The recent currency crises showed that fixed exchange rates often come in the way of resolution of the problem. This does not mean that countries do not have a number of considerations in choosing an exchange rate system. What is important is that countries' exchange rate policies should be accepted as credible by market participants. Besides, these policies should not affect adversely the economic prospects of other countries. International cooperation among Central Banks is vital to ensure that exchange rate policies pursued by G-20 countries are beneficial not only for their economies but also for the rest of the international monetary system." He said that the issue of an optimal exchange rate regime is not fully settled and discussion may be required for taking a clear view on the issue of exchange rate management.

    Regarding external liabilities, Shri Sinha said, "Over the period external debt, both public and private has emerged as a crucial issue, particularly in terms of vulnerabilities. In particular, the short term debt, guarantees, and institutional mechanisms to monitor debt need to be seen in the context of financial sector reforms and risk management strategies. while both fiscal and private sector imprudence is at the heart of the matter, availability of long term external debt, regulatory framework for short term capital movement, prudent management of international market expectations and appropriate regulation of off-shore financial institutions could go a long way in reducing vulnerabilities.

    On the financial sector, the Minister said that weakness of the financial system or its supervision has certainly contributed to instability over the period. Shri Sinha said that India has been working towards reforms and improvement of the system. However, he said, the process is complex and gradual. Shri Sinha told the Meeting that in a recent landmark decision the Indian Parliament has passed a Bill which provides for private sector participation and competition in the insurance sector. Given the large scope of the task, it is necessary to allow for a suitable transition period for implementation of tighter regulatory norms, keeping in mind different stages of development, he said.

    Shri Yashwant Sinha suggested that the new financial architecture must ensure an important role for the private sector. To effectively involve the private sector in forestalling and resolving financial crises, clauses facilitating re-negotiation of bond contracts with prior specified mechanisms are important not only for allowing early resolution and possible new financing but also because they could improve bond pricing by providing creditors with better protection, he said.

    Shri Sinha said that many of the issues that have emerged as the focussed item for reduction of vulnerabilities over the East Asian crises remain relevant and need to be pursued. In this context, he suggested for international provision of adequate liquidity at the time of crisis, which is more flexible and substantial. He also suggested that there is a need to monitor and address the behaviour of asset markets. He said there is a need to create an enabling environment for private sectors to self-regulate for vulnerabilities and there is an increasing need of financial development assistance and resources.

    While agreeing that the G-20 should exhibit its leadership role in refinements of domestic policies, Shri Sinha said that in India the process has already started. He said that the regulatory and supervisory regime in India is gradually moving towards internationally agreed standards. Shri Sinha said that the Financial System Stability Assessment should be symmetric and industrialized economies with developed financial sector should be able to take up these immediately in view of the infrastructure available to them. While agreeing that a more stable private capital flow would greatly reduce vulnerabilities, Shri Yashwant Sinha pointed out that repeated bailouts and implicit guarantees would only misdirect the private behaviour with moral hazard implications.

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UNION HEALTH MINISTER URGED THE W.H.O. TO DEVISE WAYS AND MEANS FOR TACKLING THE "PALAR " RIVER WATER POLLUTION IN TAMIL NADU

    Union Minister of State for Health and Family Welfare, Shri N.T. Shanmugam requested the W.H.O. to devise ways and means for tackling the Palar River Water Pollution Problem prevalent in Tamil Nadu specially in Vellore District. During the meeting with WHO Representative to India, Dr. Robert J. Kim-Farley, World Bank’s representative Mr. Sameer Akbar, Dr. Henry Falk from Centre for Disease Control of Atlanta in USA and Mr. Ashok Das from The George Foundation held at his Chamber today the Minister made this request when he was apprised of the problem of Lead Poisoning in India. The Minister evinced keen interest in understanding the problem of Lead Poisoning and assured necessary follow-up action and co-ordination with other Govt. agencies like Ministry of Environment and Forest in tackling the Lead Poisoning.

    An Action Plan on the prevention and treatment of the Lead Poisoning in developing countries was presented to the Minister by them. This action plan has been prepared by a committee consisting of National and International Experts based on the discussion and recommendations of the International Conference on Lead Poisoning held in Bangalore recently.