Press Information Bureau
Government of India
*****
Self-Employment to minority communities
New Delhi : July 9, 2009
Lok Sabha
National Minorities Development and Finance Corporation (NMDFC), a Public Sector Enterprise under the administrative control of Ministry of Minority Affairs, provides loans to persons belonging to minority communities, living below double the poverty line, for undertaking income generating activities.
NMDFC provides loans to individuals through State Channelising Agencies (SCAs) which are nominated by the respective State/UT Governments. Besides, it provides micro-credit through Non-governmental Organizations (NGOs). It also extends Educational Loan through SCAs for pursuing technical and professional courses.
A statement showing State/UT wise funds disbursed and beneficiaries assisted during the last three years and the current financial year (upto 30.6.2009) is at Annexe-I. During the current financial year, as per the Memorandum of Understanding (MOU) between the Ministry of Minority Affairs and NMDFC, a target of disbursement of Rs. 185.00 crore has been fixed for covering 79,860 beneficiaries by NMDFC.
This information was given by Shri Salman Khurshid, Minister for Minority Affairs, in the Lok Sabha today in a written reply.
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KKP/ska /spandey
Press Information Bureau
Government of India
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Role of Independent Directors
New Delhi : July 9, 2009
Lok Sabha
The provisions of the Companies Act, 1956 do not define the term 'Independent Director'. The Act only defines the term 'Director', Managing Director/Whole Time Director'. However, as per Clause 49 of the Listing Agreement, SEBI has provided for induction of Independent Directors on the Board of the listed companies.
As per provisions of the Companies Bill, 2008 introduced in the Lok Sabha on 23rd October 2008, a provision has been made for appointment of independent directors on the Board of listed companies, having such amount of paid up share capital as may be prescribed. In order to have better corporate governance and management of companies, the duties and liabilities of the directors have been specified in the Companies Bill, 2008 and the term 'Independent Director' has also been defined.
The Companies Bill, 2008 lapsed in view of Article 107 (5) of the Constitution. The Government now proposes to re-introduce the Bill as the Companies Bill, 2009 in the Parliament. The role of independent directors may also come up, inter-alia, for deliberations during the scrutiny of the Bill by the Parliamentary Standing Committee on Finance.
This information was given by Shri Salman Khurshid, Minister for Corporate Affairs, in the Lok Sabha today in a written reply.
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Press Information Bureau
Government of India
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Corporate disclosures by companies
New Delhi : July 9, 2009
Lok Sabha
An elaborate regulatory framework is already in place under the Companies Act, 1956 to deal with corporate disclosures by the companies registered under the Act. This framework provides for statutory disclosures to the Stakeholders about the true and fair view of the state of affairs of the companies. To facilitate corporate disclosures by the companies to the stakeholders and the Regulatory Agencies, the Government has set up an electronic registry with round the clock access, including inspection of documents, through internet. The Government is empowered to inspect the books of accounts of companies and also to investigate their affairs, if need be, under the Companies Act, 1956. The companies are also required to disclose their financial position in accordance with Schedule VI of the Companies Act, 1956 and the Companies (Accounting Standard) Rules, 2006. Further, section 628 of the Act provides that if any person makes a false statement in any return, report, certificate, balance sheet, prospectus, statement or other document required by or for the purpose of any of the provisions of the Act, he/she shall be punishable with imprisonment for a term which may extend to two years and shall also be liable to fine.
The Government introduced Companies Bill, 2008 in the Lok Sabha on 23.10.2008, to provide for a comprehensive revision of the provisions of the Companies Act, 1956 which would enable more effective checks against irregularities/frauds by companies. The Companies Bill, 2008, has lapsed in view of Article 107 (5) of the Constitution. The Government now proposes to re-introduce the Bill as Companies Bill, 2009 in the Parliament.
This information was given by Shri Salman Khurshid, Minister for Corporate Affairs, in the Lok Sabha today in a written reply.
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Press Information Bureau
Government of India
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Production and export of cotton
New Delhi : July 9, 2009
Lok Sabha
Higher Minimum Support Price (MSP) has affected the cost structure of raw cotton being offered in international market. The disparity in domestic cotton as compared to International prices and reduction in cotton consumption by the major importing countries due to global economic slow down, has affected the cotton exports from the country. This information was given by the Minister of State for Textiles, Smt. Panabaaka Lakshmi in the Lok Sabha today, in a written reply to a question by Shri K.S. Rao.
The balance sheet showing demands and production of last three years and the current years is given below:-
(Lakh bales of 170 kgs. each)
COTTON YEAR (OCTOBER - SEPTEMBER)
SUPPLY
2005-06
2006-07
2007-08
2008-09
Opening Stock
Production
Import
72.00
241.00
5.00
52.00
280.00
5.53
47.50
315.00
6.50
43.00
290.00
7.00
TOTAL SUPPLY
318.00
337.53
369.00
340.00
DEMAND
Mill Consumption
Small Mill Consumption
Non Mill Consumption
Total ConsumptionExport
180.00
19.00
20.00
219.00
47.00
194.89
21.26
15.88
232.03
58.00
203.00
23.00
15.00
241.00
85.00
195.00
20.00
15.00
230.00
50.00*
Total disappearance
266.00
290.00
326.00
280.00
Carry forward
52.00
47.50
43.00
60.00
Source: Cotton Advisory Board (*estimated)
RM/AS-PQ1-USQ 886 - LS/spandey
Press Information Bureau
Government of India
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Foreign Tourists
New Delhi : July 9, 2009
Rajya Sabha
Minister of State in the ministry of Tourism Shri Sultan Ahmed has said as per the latest estimates, the share of India in the international tourist arrivals during the years 2005, 2006, 2007 and 2008 was 0.49 percent, 0.52 percent, 0.56 percent and 0.58 percent respectively.
In a written reply in the Rajya Sabha today he said, number of international tourist arrivals in Singapore, Thailand, Sri Lanka, Philippines and India during 2006 and 2007 are given below.
Country
International tourist arrivals
(million)
2006
2007
Growth Rate 2007/06
Singapore
7.59
7.96
4.9 %
Thailand
13.82
14.46
4.6 %
Sri Lanka
0.56
0.49
(-)11.7 %
Philippines
2.84
3.09
8.7 %
India
4.45
5.08
14.3 %
Shri Ahmed said the growth rate of tourist arrivals in India in 2007 over 2006 has been higher than all these countries. It may also be noted that the arrival figures of these countries except Sri Lanka include the arrivals of their nationals residing abroad. However, in case of India, the arrival figures do not include non-resident Indians (NRIs), as figures for NRIs visiting India are not available.
Ministry of Tourism, through its indiatourism offices overseas is undertaking a series of promotional activities with the objective of increasing foreign tourist arrivals. These activities include, advertising, participation in travel fairs, exhibitions, road shows, India evenings, seminars & workshops, Indian food and cultural festivals; publication of brochures, inviting media personalities, tour operators and opinion makers to visit the country under the hospitality Programme of the Ministry.
In addition, a "Visit India 2009" Scheme has been announced by the Ministry of Tourism, in collaboration with all stakeholders including airlines, hotels, tour operators, state Governments for incentivising travel to India during the current year.
The Marketing Development Assistance (MDA) Scheme of the Ministry of Tourism has been expanded so as to provide financial assistance to service providers for the promotion of Medical, Convention and Conference Tourism in the country.
AD/DB/spandey
PIB Kolkata
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Palash Biswas
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