As per Monthly Oil Market Report published by OPEC in September 2019, India's oil demand will further rise to 5.05 mb/d by 2020 (3.36% year on year), outpacing China's oil demand growth (2.37%).

The oil conservation measures to be taken at the end-users level, inter-alia, includes:

Reducing energy consumption through introduction of standard and labeling program for equipments using petro-based fuels such as Domestic LPG Stoves, Diesel Irrigation Pump Sets & Diesel Generator Sets.

. Training of drivers and organization of transport workshops

. Sensitizing farmers on petroleum conservation through KisanMelas, agriculture workshops etc.

. Carrying out energy audits

. Educating housewives on efficient use of domestic LPG

. Mass awareness activities through Saksham Campaigns, Social Media campaigns, campaigns on TV, Radio & Newspapers, literature, Exhibitions etc.

Indian Railway Catering & Tourism Corporation Limited (IRCTC), a tourism arm of Indian Railways, has signed a Memorandum of Understanding (MoU) with Karnataka State Tourism Development Corporation (KSTDC) to market and operate the Golden Chariot Train in New Delhi. Karnataka State Tourism Development Corporation (KSTDC) will soon hand over the reins of the train to IRCTC. IRCTC is planning a revamp of the train itineraries also to add different flavours that Karnataka has to offer. The new itineraries shall be a mix of history, culture, wildlife and nature. It is proposed to include Bandipur, Mysore, Halebid, Chikmagalur, Hampi, Bijapur and Goa in the itinerary. IRCTC is expected to carry out internal refurbishment of the train and commence operations from March 2020.

The Minister of State of Railways, Suresh C. Angadi said that this MoU is an important step towards the Prime Minister's vision to promote tourism in India and his clarion call to the countrymen to visit at least fifteen tourism spots in the country. He directed the IRCTC and KSDTC to keep the price of the tickets competitive so that the common people can also avail the facility of this train. This train will boost the tourism in Southern India, he added.

The Scheme aims to cover around 3 crore beneficiaries. With a view to provide social security net for the Small and Marginal Farmers (SMF) as they have minimal or no savings to provide for old age and to support them in the event of consequent loss of livelihood, the Government has launched a new Central Sector Scheme, namely, the Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY). Under this Scheme, a minimum fixed pension of Rs 3000 is provided to the eligible small and marginal farmers, subject to certain exclusion clauses, on attaining the age of 60 years. It is a voluntary and contributory pension scheme, with entry age of 18 to 40 years.

The beneficiary can opt to become member of the Scheme by subscribing to a Pension Fund managed by the Life Insurance Corporation of India (LIC). The beneficiary is required to make a monthly contribution of between Rs 55 to Rs 200 to the Pension Fund, depending on the age of entry into the Scheme, with provision of equal contribution by the Central Government. Exit from the scheme may be voluntarily or on failure of contribution or on demise. On exit from the scheme, the beneficiary will receive his/her accumulated share and the Government's contribution will be deposited in the LIC Fund. After the subscriber's death, the spouse or heir shall be entitled to receive 50% of the pension as family pension, provided he/she is not already an SMF beneficiary of the Scheme. On the death of the subscriber during the period of contribution, the spouse shall have the option of continuing the Scheme by paying regular contribution.

All Small and Marginal Farmers in the country, who are of the age of 18 years and above and up to the age of 40 years, and who do not fall within the purview of the exclusion criteria, are eligible to avail the benefits of this Scheme.

The ratio of contribution to be made by small and marginal farmers and the Union Government under this Yojana is 1:1. Government contribution under the Scheme is equal to the monthly contribution made by the farmer, which varies from Rs 55 to Rs 200 depending on the age of entry.

The Life Insurance Corporation of India (LIC) is the Pension Fund Manager for the Scheme.

PM-KMY Scheme aims to cover around 3 crore Small and Marginal Farmers.

A budgetary provision of Rs 900 crore has been made for the year 2019-20. There is no State-wise allocation of funds under the Scheme.

Apart from the electronic and print media, wide publicity has been given to the Scheme through social media as well. The implementing agencies, the State / UT Governments and the Common Service Centres (CSCs), have also been roped in for wide publicity through their own resources. The Village Level Entrepreneurs (VLEs) of the CSCs who are field level functionaries, have also been provided incentives for ensuring maximum enrolment of farmers under the Scheme.

The Phase-I of the FAME India Scheme was launched in 2015 and continued up to 31 March 2019. Based on outcome and experience gained during the Phase-I of FAME India Scheme and after having consultations with all stakeholders including Industry and Industry Associations, the second phase of FAME India Scheme has commenced from 01 April 2019 for a period of 3 years. As on date about 2.85 lakh buyers of electric/hybrid vehicles (xEVs) have been supported by subsidy of Rs 360 crore under the FAME India Scheme.

Ashok Dalwai, CEO, National Rainfed Area Authority (NRRA), Ministry of Agriculture said that the government is in the process of setting-up a dedicated Agri Entrepreneurs Cell for start-ups and small entrepreneurs. Speaking at the 2nd edition of Conference and Awards for Innovations by Agri Start-ups ‘Nurturing Agri Innovations’, Dalwai said that there are numerous areas where the start-ups can help farmers reduce cost and increase income.

Dalwai also stressed upon the need to create a platform for standardized and structured data that can be accessed free of cost. Highlighting the role of various agriculture research centres and institutions, Dalwai said that we should create a platform where different technologies, already existing, are uploaded and made available to everybody.

According to the Federation Of Automobile Dealers Association (FADA), the October vehicle registrations data showed positive momentum with the biggest 2 festivals of Navratri/Dussehra and Diwali being in the same month. Never before seen attractive offers boosted the overall positive mood of the buyers says FADA.

On a YoY basis, overall vehicle registrations rose by 4%. 2-Wheeler registrations were up 5%, 3- Wheeler were up 4%, PV were up 11% and CV registered de-growth of -23%. On inventory front, PV inventory, already being at reasonable levels, saw a further marginal drop reaching the ideal mark. CV inventory also reduced but still remains above comfortable levels heading into the BS6 implementation.

FADA still remains cautious for the near and mid-term post the Festive seasons as BS VI transition approaches and rural demand is yet to pick up due to extended and excessive monsoon. Business appetite of banks and NBFC’s is seen to be growing and will aid in demand recovery in the coming months.

As per the information received from National Company Law Tribunal (NCLT), total 1,821 cases filed by homebuyers against builders since June, 2018, under the Insolvency and Bankruptcy Code (IBC) 2016, were pending in NCLT on 30.09.2019. Data regarding cases filed against builders for defaults of less than a month is not available with NCLT, this was stated by Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok sabha yesterday.

Elaborating further, Thakur said the matter of the status of homebuyers as financial creditors or modify the definition of default in these cases in order to reduce the number of insolvency cases filed against builders in the NCLTs for small defaults is under consideration of the Ministry of Corporate Affairs.

The Government is taking all steps to strengthen the NCLT in terms of number of benches, number of courts and number of members, to reduce the burden of the NCLT.

Five new benches have been announced during 2018-2019 at Jaipur, Cuttack, Kochi, Indore and Amaravati. The Government has also appointed 28 more members in NCLT recently and vacant posts of members in NCLT are being filed up regularly. For capacity building of members, regular colloquiums are being held. e-Court project is also being implemented by NIC for all the benches of NCLT.

The government of India (GoI) has announced the sale (re-issue) of five dated securities for Rs 16000 crore. These include 6.17% GS 2021 2,000, 7.27% GS 2026 2,000, 6.45% GS 2029 7,000, 7.62% GS 2039 1,000 and 7.63% GS 2059 4,000. Subject to the limit of ₹16000 Cr being total notified amount, GoI will have the option to retain additional subscription up to ₹1000 Cr each against any one or more of the above securities. The auction be price based using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on November 22, 2019.

Licensing relaxation under Section 406 and 407 of the Merchant Shipping Act has been extended for 5 years for specialized vessels such as RO-RO, RO-Pax, Hybrid RO-RO, Pure Car Carriers, Pure Car and Truck Carriers, LNG vessels, Over-Dimensional Cargo, project cargo vessels.

Also the same relaxation has been given to container vessels for carrying EXIM containers and empty containers at transshipment ports for outbound transport; and to foreign flag vessels for carrying Agricultural, Fisheries, Horticultural and Animal Produce commodities subject to the condition that these commodities constitute at least 50% of the cargo on board the ship, while Fertilizers, subject to the condition that these commodities constitute 50% of the cargo taken on-board at the beginning of the coastal leg.

Mansukh Mandaviya further informed that the Coastal Berth Scheme has been extended up to March 2020 and till date 39 projects worth Rs 1569 crore has been sanctioned. A discount of minimum 40% is offered by major ports on vessel and cargo related charges to vessels carrying coastal cargo. Priority berthing policy for coastal vessels has been notified to reduce turnaround time for coastal vessels and improve their utilization.

To develop a strategy and implementation roadmap for coastal shipping of coal and other commodities / product, Inter-Ministerial Committee (IMC) has been constituted under the chairmanship of Chairman, Railway Board. In addition to this, a perspective plan has been prepared by Asian Development Bank for coastal shipping, the minister added.

NITI Aayog released a report on 'Health Systems for a New India: Building Blocks—Potential Pathways to Reforms'. The report was released by NITI Aayog Vice Chairman Dr Rajiv Kumar in the presence of Bill Gates. The report identified 5 focus areas of future health system, deliver on unfinished Public health agenda, change health financing away from out of pocket so spend into large insurers, integrate service delivery vertically and horizontally, empower citizens to become better buyers of health, harness the power of digital health. Highlighting the need to build India's opportunities, the vision for health over the next fifteen years is to transform the delivery of health services in a way that they improve at a much greater pace, without financially burdening its citizens.

Over the last few years, India has embarked on a journey towards providing improved access to high-quality, affordable healthcare for the most unreached and vulnerable population of the country. Many indicators, however, continue to show significant scope for improvement. By placing health at the centre-stage of the policy narrative, this report charts a clear roadmap for the complete transformation of India's health system.

'At a systems level, overcoming the challenges of fragmentation, across healthcare financing and service delivery, will help us optimize both quality and access. India now needs to build on its many opportunities to achieve further progress on the health of its citizens and respond to the growing aspirations and needs of a new India,' said Dr Rajiv Kumar, Vice Chairman, NITI Aayog.

Lauding the significant improvements made in India's health sector, Bill Gates, co-chairman of Bill and Melinda Gates Foundation, said primary healthcare is extremely important for all. India is in a very hopeful situation, he said, and is set to be an example for other countries. He mentioned that the private sector needs to be involved to meet key challenges and that the Gates Foundation through its initiatives will extend all possible help.

The defence minister Rajnath Singh urged defence manufacturing companies to become part of 'Make in India', reaffirming the Government's commitment to achieve USD 26 billion defence industry by 2025. He said, the defence sector has been given prominence under the 'Make in India' initiative to reduce dependence on imports and make India a major defence manufacturing hub & net exporter of defence equipment and platforms.

The Government has set a target of taking India's defence exports to USD five billion by 2025 under the 'Draft Defence Production Policy 2018', he said. “On one hand this target is ambitious, but at the same time it is encouraging that India's defence exports have grown almost six-fold in the last two years,” he added. The minister said, USD 10 billion investment in aerospace and defence goods & services is expected by 2025 which could provide employment to 2-3 million people.

The minister also highlighted the Government has undertaken far-reaching reforms in the last five and a half years to increase synergy between public and private sector. It has contributed positively in defence production and procurement. He said, work is on to introduce a common testing and certification scheme under a Public Private Partnership model to create an enabling environment.

Consumption or sales of fuel products rose 1.3% to 123.18 mt in April-October 2019 over April-October 2018. Sales of petrol increased 9.1% to 17.84 mt, LPG 5.6% to 14.91 mt, others 11.4% to 6.90 mt, petcoke 3.6% to 12.69 mt, and LDO 13.3% to 0.37 mt. However, the consumption of naphtha declined 8.9% to 7.35 mt, kerosene 24.9% to 1.56 mt, fuel oil 7.0% to 3.53 mt and ATF 2.7% to 4.66 mt. Further, the consumption of lubes/greases also fell 5.6% to 2.15 mt, diesel 0.2% to 47.85 mt and bitumen 0.3% to 3.37 mt in April-October 2019.

Oil imports declined 31.7% to US$ 9.63 billion, while the non-oil imports fell 9.2% to US$ 27.76 billion in October 2019 over October 2018. The share of oil imports in total imports was 25.8% in October 2019, compared with 32.2% in October 2018. The price of India's basket of crude oil plunged 25.4% to US$ 59.70 per barrel in October 2019 over October 2018.

Among the non-oil imports, the major contributors to the overall dip in imports were coal, coke & briquettes etc imports declining 28.7% to US$ 1.62 billion, organic & inorganic chemicals 24.4% to US$ 1.61 billion, electronic goods 8.5% to US$ 4.77 billion and transport equipment 14.6% to US$ 1.89 billion, while imports of pearls, precious & semi-precious stones also declined 17.6% to US$ 1.50 billion, non-ferrous metals 16.3% to US$ 1.09 billion, iron & steel 14.3% to US$ 1.27 billion and artificial resins, plastic materials etc 10.5% to US$ 1.21 billion.

Further, the imports of chemical material & products declined 11.1% to US$ 0.61 billion, silver 80.2% to US$ 0.10 billion, metaliferrous ores & other minerals 46.7% to US$ 0.38 billion, dyeing / tanning / coloring materials 21.1% to US$ 0.23 billion and wood & wood products 6.8% to US$ 0.48 billion.

However, the imports have increased for gold by 4.7% to US$ 1.84 billion, vegetable oil 28.0% to US$ 0.95 billion, crude & manufactured fertilizers 86.9% to US$ 0.77 billion and medicinal & pharmaceutical products 35.0% to US$ 0.71 billion in October 2019.

On exports front, the petroleum products recorded a decline in exports by 14.6% to US$ 3.62 billion, followed by rice 29.5% to US$ 0.32 billion, plastic & linoleum 11.0% to US$ 0.64 billion, cotton yarn/fabrics/made-ups, handloom products etc 6.1% to US$ 0.86 billion, and leather & leather products 7.6% to US$ 0.38 billion. The exports also declined for RMG of all textiles by 2.1% to US$ 1.11 billion, meat, dairy & poultry products 5.1% to US$ 0.34 billion, mica, coal & other ores, minerals including processed minerals 4.0% to US$ 0.31 billion, man-made yarn/fabrics/made-ups etc 0.7% to US$ 0.41 billion, and ceramic products & glassware 1.2% to US$ 0.22 billion.

However, the exports moved up for electronic goods by 38.4% to US$ 1.07 billion, gems & jewellery 6.0% to US$ 3.72 billion and drugs & pharmaceuticals 12.6% to US$ 1.70 billion and engineering goods 1.2% to US$ 6.45 billion in October 2019. Further, the exports of iron ore also improved 49.1% to US$ 0.19 billion, marine products 7.8% to US$ 0.74 billion, organic & inorganic chemicals 0.9% to US$ 1.83 billion, handicrafts excluding handmade carpet 7.7% to US$ 0.16 billion, and spices 2.9% to US$ 0.27 billion in October 2019.

Merchandise exports in rupees declined 4.6% to Rs 187382 crore, while imports dipped 19.3% to Rs 265628 crore in October 2019 over October 2018. The trade deficit eased to Rs 78246 crore in October 2019 compared with Rs 126140 crore in October 2018.

India's merchandise exports fell 2.4% to US$ 185.95 billion, while merchandise imports declined 8.0% to US$ 280.67 billion in April-October 2019. The decline in imports was driven by a 12.0% fall in oil imports to US$ 73.93 billion. India's merchandise trade deficit eased to US$ 94.72 billion in April-October 2019 from US$ 113.58 billion in April-October 2018.

India's Central Public Sector Enterprises (CPSEs) can become globally competitive, according to the Confederation of Indian Industry (CII). 'The Rise of the Elephant: Enhancing Competitiveness of Central Public Sector Enterprises' which is due for formal release on 18 November identifies specific actions to boost the competitiveness of public sector enterprises, the CII said.

The report highlights that there are examples internationally and a few in India to demonstrate that efficient operations and fulfilment of social obligations are not contradictory. At the core of the Competitiveness Model is clarity on the roadmap for CPSEs and the objectives. The other key element is clear role demarcation.

An independent and empowered board will transform CPSEs from being ministry-driven to Board-driven. The intent is that the board, comprising independent experts, would take all strategic decisions, thereby increasing the speed and efficacy of decision-making, CII added.

Ensuring a level playing field between CPSEs and private players is another key element of the Competitiveness Model. CPSEs must be subject to the same governance standards as private players. Excessive scrutiny from the Central Vigilance Commission and the Comptroller Auditor General, coupled with the threat of Central Bureau of Investigations often leads to stalled or over-cautious decision-making in CPSEs. Further, distinction must be made between mala-fide action and taking a business risk.

Becoming future ready is the last element of the Competitiveness Model. CPSEs must develop internal competencies in technologies such as Artificial Intelligence, Internet of Things, blockchain, and big data analytics amongst others. Appropriate adoption of these technologies is the key to future competitiveness.

The CII-NITI Aayog 'Report on Clean Industry' presents recommendations for reducing air pollution from major industrial sources in the air-shed of Delhi National Capital Region (NCR). Key anthropogenic activities addressed in this report include fugitive emissions from construction, demolition and allied activities(manufacturing and transportation of construction materials) and energy-related emissions from diesel generators, thermal power plants and brick kilns.

Managing and controlling fugitive emissions requires proliferation of good practices for prevention and control of these at various stationary and mobile sources. The report presents a compilation of best practices in order to guide their adoption among public and private agencies involved in construction, infrastructure development and utility operations. Capacities at local level are found to be a major barrier for adoption of these best practices, therefore, capacity building at city level is a major policy recommendation. The report also highlights that clean air action in NCR towns requires greater accountability from local agencies or authorities. Stringent penalties are proposed for public and private agencies alike, if they are found to be violating the air quality standards and norms in their jurisdictions and operations.

Speaking on the Clean Industry report, Mr. Chandrajit Banerjee, Director General, Confederation of Indian Industries, said, “If we wish to breathe fresh air, it is imperative for Industry to adopt the recommendations of the report across sectors, be it manufacturing, energy generation or construction; and embed it into its business strategy, policies and future plans. Businesses should shift from environmental compliance to environmental stewardship for the sake of healthy planet!”

Managing energy-related emissions would require significant progress in adoption of clean fuel technologies and end-of-pipe solutions across sectors. Recommendations for enabling ecosystems include new policy mandates and incentives for prioritizing clean fuels in electricity generation, system-level changes for leapfrogging to higher co-firing ranges for locally available farm biomass in existing thermal power plant, more stringent environmental norms for diesel generators as per the global benchmarks which will require some degree of customization for adopting local solutions. Next generation of environmental standards with minimum technical specifications for end-of-pipe solutions can open the markets for new innovative end-of-pipe technologies while ensuring competitive market for these solutions.

India's services trade surplus rose 0.2% to US$ 6.44 billion in September 2019 from US$ 6.43 billion in September 2018.

India's services trade surplus improved 0.2% to US$ 38.57 billion in April-September 2019 over a year ago, with 9.0% rise in services exports to US$ 110.16 billion. India's services imports moved up 14.4% to US$ 71.58 billion in April-September 2019.