Bengal find spurs cheap gas hope
India's per capita income up 14.5% to Rs 46,492,whose Income?
Fast track court convicts 12 in Kandhamal riots case!
INS Vindhyagiri on fire post collision, many feared stuck! Pak has 110 N-weapons to edge ahead of India: US Report
US justifies use of trackers on Indian students duped by TVU
Indian Holocaust My Father`s Life and Time -FIVE HUNDRED SEVENTY EIGHT
Palash Biswas
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Conditional green clearance for Posco!After putting the project on hold last year, Union Environment Minister Jairam Ramesh today granted conditional clearance for South Korean major Posco''s USD 12 billion steel mill project in Orissa.
The approval enables the Orissa government to immediately start acquiring land for POSCO.
The Ministry, while granting conditional green clearance for steel-cum-captive-power plant and a captive minor port, however, sought Orissa Government''s assurances before it can give final approval for diversion of 1253 hectares of forest land for the project, mooted as the single biggest foreign direct investment in India.
"Environmental clearance for the steel-cum-captive power plant is being accorded with 28 additional conditions over and above stipulated in the original environmental clearance of July 19, 2007," Ramesh said in his order.
"The environmental clearance for captive port is being accorded with 32 additional conditions over and above stipulated in the original environmental clearance of May 15, 2007," the order signed by the Minister said.
Govt approves $12 bln POSCO steel mill!POSCO says Indian approval boosts its global strategy! The DRama enacted by Proactivist Environment Minister Jairam ramesh is over asIndia's environment ministry approved on Monday South Korean POSCO's plans for a $12 billion steel mill, a boost for the foreign investment climate after several setbacks for big ticket industrial projects.Now just wait for the Sardar sarovar Project of the South , POLAVARAM Dam Project to be approved violating Forest act and Disloding thousnada of tribal families, INUNDATING Aboriginal Humanscape in Orissa, Chhattishgarh, MP, Maharashtra and Andhra!The long-delayed clearance for India's biggest foreign direct investment -- as long as the company meets a series of environmental standards -- follows a year in which Environment Minister Jairam Ramesh has blocked several projects, raising criticism he was jeapordising India's growth story.India's decision on Monday to approve construction of a $12 billion steel mill by South Korea 's POSCO will help the world's No.3 steelmaker raise exports and gain access to low-cost iron ore, analysts said.Along with the world's top steelmaker ArcelorMittal and Nippon Steel Corp, POSCO is eyeing a footprint in India's high-growth market, with global demand expected to slow as mature economies continue to struggle to recover from the economic downturn.Asian mills are also attracted to India's rich iron ore deposits, the world's third-largest, as they seek to reduce their reliance on Australia and Brazil and the associated freight costs of shipping the steelmaking ingredient.
Emerging market companies buy up the world as BSE Sensex records worst monthly fall in over 2 years.The BSE Sensex on Monday posted its worst monthly fall in more than two years, tracking weak global markets as anti-government protests in Egypt led to risk aversion, with inflation and rate rise fears further dampening sentiment.The 30-share BSE index shed 0.4 percent on Monday leading to a 10.6 percent fall in the month, its lowest since October 2008.There's a new swagger among the bosses of emerging market companies as they sign cheques for a growing list of acquisitions in both the developed and developing world. And this is just the start.After suffering less in the downturn and rebounding faster than their U.S. and European counterparts, corporations from China to Mexico are taking advantage of their strength to go shopping for an ambitious range of businesses.
Consumer firms eye Africa as next growth driver! Indian consumer goods makers are scrambling to buy assets in Africa, applying their knowledge of challenging, lower-income markets to a continent where spending power is on the rise.Tapping Africa opens up new growth avenues for cash-rich Indian makers of personal care products such as soaps, shampoos, hair and skin care products, with rising costs and fierce competition squeezing profits at home.
| Bengal find spurs cheap gas hope | |
| R. SURYAMURTHY | |
New Delhi, Jan. 30: Shale gas found in Durgapur is expected to cost the user $2 per million British thermal unit (mBtu), which is much lower than natural gas and coal-bed methane and can change the pricing norms for the gas industry. "The shale gas production is expected to cost around $2 per mBtu compared with $4.2 per mBtu for natural gas and coal-bed methane," D.K. Pande, director for exploration of ONGC, said. In the US, shale gas has significantly reduced the country's dependence on LNG. In India, too, the gas can help to strengthen the country's energy security and set new pricing standards. Gas prices vary depending on the source. For instance, gas sourced from the KG basin block operated by Reliance Industries is sold at $4.20 per mBtu, while gas from the Panna, Mukta and Tapti fields run by British Gas is priced at $5.73 per mBtu. Companies pay $5.50 per mBtu for gas from Cairn India's Ravva field in Andhra Pradesh. Gas from ONGC's C-series field is priced at $5.25 per mBtu. Firms have to pay more than $10 per mBtu for imported LNG. ONGC has tapped shale gas from a 2,000-metre well at Icchapur village near Durgapur in Bengal's Burdwan district — the first in the country. "The breakthrough is significant as India is the first Asian country where gas has been discovered from shale besides the US and Canada," Pande said. ONGC will soon start studying the commercial viability of the gas along with the environmental impact on production. "Apart from the issues of land, there are concerns over the environmental impact which will be studied before we seek permission of the government for the commercial exploitation of shale gas," Pande said. Shale gas production requires large tracts of land as it involves horizontal drilling. Shale gas is natural gas, or methane, trapped in layers of hard rocks called shale that are found thousands of metres below the earth's surface. A process known as hydraulic fracturing, or "fracking", is used in the extraction, under which water mixed with chemicals are blasted into a well to break the rocks and release the gas. There are concerns that this technology can have negative impacts on the environment such as groundwater contamination and air pollution. A report by Washington-based World Watch Institute says "a robust regulatory oversight is an important ingredient to assure environmental and public protection" if any country wants to exploit shale gas. According to the report, chemicals used in fracking could seep into the surrounding groundwater and cause serious health problems. Safe disposal of huge volumes of waste water and loss of green space are the other concerns. India has signed a shale gas pact with the US to assess the resource available at home and prepare for the auctioning of gas blocks. The petroleum ministry is expected to consult the environmental ministry before putting the blocks on sale. India plans to auction its first shale gas block by the end of this year. According to preliminary estimates, shale gas reserves may be larger than proven conventional gas deposits. India has reserves of 1,074 billion cubic metres of natural gas, according to the oil ministry. Several basins in India are known to hold the gas. The focus is on three basins — Cambay (Gujarat), Assam-Arakan (Northeast) and Gondwana (central India). The government plans to come out with policies and a production sharing mechanism, including the sharing of profits with state governments, before the first round of blocks are auctioned, officials said. |
*http://www.telegraphindia.com/1110131/jsp/business/story_13514161.jsp
US justifies use of trackers on Indian students duped by TVU
The US today sought to justify the use of ankle monitors on the students, duped by now closed Tri-Valley University, saying it was widespread across America as a standard procedure for a variety of investigations and does not necessarily imply guilt or suspicion of criminal activity.
The US response followed a sharp reaction by Indian government which termed the use of trackers as "unacceptable" and demanded their removal.
After being duped by a California-based "sham" university, scores of Indian students in the US were forced to wear radio collars around their ankles so that authorities can keep track of their movements.
"US Immigration and Customs Enforcement (ICE) have established a helpline for the Indian students affected by the closure of Tri-Valley University in California, under which any affected student may call to seek help. Some of those involved in the Tri-Valley investigation have been issued ankle monitors.
"Use of ankle monitors is widespread across the United States and standard procedure for a variety of investigations, and does not necessarily imply guilt or suspicion of criminal activity. An ankle monitor sends a radio frequency signal containing location and other information to a receiver. It allows for freedom of movement and is a positive alternative to confinement during a pending investigation," the US Embassy here said in a statement.
It said the the US government welcomes all legitimate students wishing to study there and strongly encourages prospective students to protect themselves from predatory visa fraud rings and fraudulent document vendors.
The US-India Educational Foundation provides college information and counseling services to students across India and consular officers hold frequent seminars on the proper way to apply for a student visa, including how to guard against visa fraud.
"We encourage all students to use these resources to ensure that they are enrolling in registered and accredited programs that are appropriate for their means and needs," the statement added.
The US State Department also cooperates extensively with Indian government to identify and shut down visa fraud rings and encourage Indian government to further support local police forces in these investigations.
"Visa fraud is not a victim-less crime and fraud agents and fake document vendors target some of the most vulnerable and impoverished members of Indian society. Fraud hinders genuine students from studying in the US and causes opportunities and resources to be taken away from legitimate applicants.
However, victims of fraud do have access to a variety of federal and state resources in the US- at minimum, each US state has victims' assistance units to aid victims of crime, and a legitimate student who is a fraud victim should have little trouble re-applying and enrolling in a different, fully-accredited educational organization.
"The Department of State takes allegations of immigration and visa fraud very seriously and the Tri-Valley University fraud allegations are an excellent example of the universally damaging effects of visa fraud," it added.
India's per capita income up 14.5% to Rs 46,492,Whose Income?
Per capita income of Indians grew by 14.5 per cent to Rs 46,492 in 2009-10 from Rs 40,605 in the year-ago period, as per the revised data released by the government today.
The new per capita income figure estimates on current market prices is over Rs 2,000 more than the previous estimate of Rs 44,345 calculated by the Central Statistical Organisation.
Per capita income means earnings of each Indian if the national income is evenly divided among the country's population at 117 crore.
However, the increase in per capita income was only about 6 per cent in 2009-10 if it is calculated on the prices of 2004-05 prices, which is a better way of comparison and broadly factors inflation.
Per capita income (at 2004-05 prices) stood at Rs 33,731 in FY10 against Rs 31,801 in the previous year, the latest data on national income said.
The size of the economy at current prices rose to Rs 61,33,230 crore in the last fiscal, up 16.1 per cent over Rs 52,82,086 crore in FY'09.
Based on 2004-05 prices, the Indian economy expanded by 8 per cent during the fiscal ended March 2010. This is higher than 6.8 per cent growth in fiscal 2008-09.
The country's population increased to 117 crore at the end of March 2010, from 115.4 crore in fiscal 2008-09.
RBI blames Ramesh's 'environment sensitive policies' for FDI dip
The Reserve Bank of India (RBI) has blamed Minister of State for Environment and Forests Jairam Ramesh's 'environment sensitive policies' for driving away Foreign Direct Investments (FDI) from the country.
At least this is what the Reserve Bank of India suggests - in its quarterly review of economy released on Monday -as one of the key factors affecting 'investors' sentiment', The Indian Express reports.
The RBI records an "almost 36 per cent" dip in inward FDI during the first half of the current fiscal (April-September 2010).
In its report, the apex bank points out that inward FDI during this period stood at only about 12.6 billion dollars as against 19.8 billion dollars inward flow witnessed during the same period in the last fiscal.
It was not a global phenomenon is borne out of the fact that FDI inflow into other emerging economies during the same period was up in the range of 6-53 per cent. (ANI)
31 JAN, 2011, 02.10AM IST, URMI A GOSWAMI,ET BUREAU
Implement forest Act in Polavaram project area, Centre asks AP
NEW DELHI: Andhra Pradesh Chief Minister N Kiran Kumar Reddy has been asked to look into complaints about the non-implementation of the Forest Rights Act in the Polavaram project area . Environment Minister Jairam Ramesh had written to Kiran Kumar's predecessor K Rosaiah in November. The lack of response from the state government prompted Ramesh to send a reminder last week.
Ramesh's reminder comes at a time when former Congress MP from Kadapa Jaganmohan Reddy has announced plans to undertake a three-day march from February 7 demanding speedy execution of multi-purpose dam and irrigation Polavaram project.
The project will bring immense benefit to farmers in the West Godavari, East Godavari, Krishna and Vizag districts as well as ensure water supply for Vizag. This would explain the push by Jaganmohan Reddy and Prajarajya Chief Chiranjeevi for the Polavaram project. No benefit will accrue to the Telangana region from this project, instead last tracts of Telangana will be submerged. Political parties across the spectrum in Telangana have opposed the project. The central government would like to tread carefully on the issue given the contentious Telangana issue.
Nearly 250 villages will be affected by the project, and almost 200,000 persons are expected to be displaced by the project. Most of the population in the area is tribal. This makes the non-implementation of the crucial forest rights law an extremely serious problem. Environmental analysts describe the Polavaram project as the "Sardar Sarovar of the south."
The first set of complaints were sent to Ramesh in end August. In their complaints, the gram sabhas challenged the state government's assertion that all claims under the Forest Rights Act have been settled. This was followed by complaints by civil society representatives to Forest Advisory Committee in September. The matter was referred to the Forest Advisory Committee.
http://economictimes.indiatimes.com/news/politics/nation/implement-forest-act-in-polavaram-project-area-centre-asks-ap/articleshow/7394047.cms
Fast track court convicts 12 in Kandhamal riots case
PHULBANI (ORISSA): Two separate fast track courts here sentenced 12 people to rigorous imprisonment and penalty after convicting them in cases of house burning during the Kandhamal riot in 2008.
While disposing a case relating to house burning of minorities at Lengisuga village under Baliguda police station area during the riot, the fast track court judge C R Das pronounced four years RI and Rs 3,000 penalty to 10 persons of the same village and acquitted four others due to lack of proper evidence.
Similarly, the fast track court-I judge S K Das pronounced three years RI and Rs 3,000 penalty to two persons after finding them guilty in setting fire on the houses of minorities at Ghodabisa village under G Udaygiri police station area.
Both the house burning cases were reported on August 27, 2008, barely four days after killing of the VHP leader Swami Laxamananda Saraswati.
Above 4,000 houses were burnt and 38 people killed in the Kandhamal riot in the aftermath of Saraswati's killing.
INS Vindhyagiri on fire post collision, many feared stuck
MUMBAI: Frantic efforts were on Monday to save Indian Navy warship INS Vindhyagiri after a major fire engulfed it following a collision with a merchant vessel off Mumbai Harbour, official sources said here.
The warship of the Nilgiri class had collided with the container vessel MV Nordlake around 5 p.m. Sunday but there were no casualties.
The naval fire brigade was assisted by the Mumbai Fire Brigade in dousing the fire, which apparently started in the engine room when it was brought to the naval dockyard for assessing the damage, the sources said, adding that possibilities of saving the warship seemed bleak.
An official defence spokesperson confirmed the fire on board the warship but declined to give further details.
While the naval frigate was entering the Mumbai Harbour after celebrating "a day at sea" with naval personnel and their families, the MV Nordlake, loaded with containers, was navigating out of the harbour.
The collision took place in the main navigation channel used by all vessels to enter both Mumbai Port Trust and Jawaharlal Nehru Port Trust .
Though there were no casualties or oil spill after the collision, the container ship was detained for further investigations.
Vindhyagiri is a 3,000-tonne, 20-year-old frigate commissioned in the navy in 1981.
Pak has 110 N-weapons to edge ahead of India: US Report
WASHINGTON: Pakistan has doubled its nuclear arms stockpile to 110 warheads, developing new weapons to deliver them and significantly accelerating production of uranium and plutonium for bombs to edge ahead of India.
Islamabad's nuclear weapons stockpile now totals more than 110 deployed weapons in a sharp jump from an estimated 30-80 weapons fours years ago, 'Washington Post' reported.
"Pakistan has expanded its nuclear weapons production capability rapidly", the Post quoted David Albright President of the Institute for Science and International Security as saying.
Albright said that based on accelerated production of plutonium and highly enriched uranium, Pakistan may now have an arsenal upto 110 weapons.
The non-government US analyst said that while continuing to produce weapons-grade uranium at two sites, Islamabad has sharply increased its production of plutonium, enabling it to make lighter warheads for more mobile delivery system.
Pakistan's has developed a new missile Shaheen II, with a range of 1,500 miles which is about to go into operation deployment. The country has also developed nuclear capable land and air launched cruise missiles, the Institute said in a new report.
"The Pakistanis have significantly accelerated production of uranium and plutonium for bombs and developed new weapons to deliver them. After years of approximate weapons parity, experts said, Pakistan has now edged ahead of India, its nuclear-armed rival", Washington Post said.
The paper said while Pakistan has produced more nuclear-armed weapons, India is believed to have larger existing stockpiles of such fissile material for future weapons.
Dubbing Pakistan as one of the world's most unstable region, Post said an escalation of nuclear arms race in South Asia possess a dilemma for Obama Administration.
It said in politically fragile Pakistan, the Administration is caught between fears of proliferation or possible terrorist attempts to seize nuclear materials and Pakistani suspicions that the US aims to control or limit its weapons programme and favours India.
Quoting Pakistan's Defense attache at its embassy in Washington, Post said the number of Pakistani nuclear weapons are heavily deployed near its border with India.
The paper said that in December 2008, Peter Lavoie, US national intelligence officer for South Asia, told NATO officials that "despite pending economic catastrophe, Pakistan is producing nuclear weapons at a faster rate than in any other country in the world".
"Undoubtedly projects such as that of POSCO have considerable economic, technological and strategic significance for the country," the statement said. "At the same time, laws on environment and forests must be implemented seriously."
The mill in Orissa has been delayed by criticism it would ruin lives of thousands of poverty-stricken people, who say the plant will disrupt their betel leaf plantations and forest-based livelihoods.
India, one of the world's fastest growing major economies, needs foreign capital to boost infrastructure and allow its economy to grow at near double digits. But projects have met with protests from local farmers in this densely-populated country.
A government panel had earlier said there were no ecological concerns over the plant and the final decision was with Ramesh.
Posco is among several corporations, including Vedanta Resources, which have come under scrutiny from Ramesh, putting his ministry in conflict with others in the government who are pushing for rapid industrialisation.
A series of corruption scandals has shaken the government of Prime Minister Manmohan Singh and a recent minor cabinet reshuffle saw several ministers' portfolios change, but Ramesh stayed on as environment minister, indicating his influence.
The ruling Congress party head, Sonia Gandhi, is keen to win over farmers hit by big projects at well as ensuring industrial jobs are created -- a fine line that may have helped create regulatory uncertainty before state elections this year and a general election in 2014.
REGULATORY UNCERTAINTY
While investors tend to shrug off corruption scandals as a risk of emerging markets, regulatory uncertainty threatens to taint India's attractiveness as a destination for foreign firms eager for a slice of its booming $1.3 trillion economy.
In October, Ramesh threw out plans by London-listed Vedanta to expand its alumina refinery over worries it would destroy a "sacred" hill for tribal peoples, but this month Ramesh said he was willing to conditionally reconsider Vedanta's expansion plan.
That remark came soon after the ministry said it could consider approving Hindustan Construction Co's ambitious Lavasa project, a massive new town in a forested area near the city of Pune being built at a cost of $31 billion.
A back-and-forth on whether to ban iron ore exports in Karnataka has also worried investors. ArcelorMittal, the world's top steel maker, has also had faced years of delays in building several plants in India.
Approval for the Posco mill would see the Orissa government immediately starting to acquire land for the world's third-largest steelmaker's project.
Posco still faces a series of hurdles that could delay the project, such as a court case filed by a local firm against the Orissa government, contesting its decision to grant a mining concession to South Koreans.
India, which has not yet been able to exploit its potential as a natural resources-rich country, is keen on boosting its trade and political ties with South Korea while Seoul looks to tap into the $150 billion Indian nuclear power market.
Direct investors -- companies building factories or power plants or buying local firms -- often have less flexibility and more to lose than fund investors and are especially sensitive to regulatory uncertainty.
Leading global companies such as Wal-Mart Stores, Vodafone and POSCO have been frustrated for years in their efforts to negotiate regulations in a promising but perilous market, and foreign direct investment has suffered.
Vodafone, India's biggest foreign direct investor to date, is fighting a 120 billion rupee ($2.6 billion) tax bill in a court battle and has complained about a telecoms regulatory structure that it said allowed too many players into the market.
"The biggest attraction of India for global steelmakers is its strong growth potential and its iron ore reserves," said Hana Daetoo Securities analyst Kim Jung-wook.
POSCO's 12-million-tonne steel project, first announced in 2005, is the centerpiece of its bid to expand overseas amid rising domestic competition and as it seeks to increase self-sufficiency in sourcing steelmaking ingredients. POSCO currently sources most of its iron ore from Australia and Brazil.
Domestic rival Hyundai Steel Co is boosting output aggressively to increase supply for affiliate Hyundai Motor Group, the world's No.5 auto group that includes Hyundai Motor Co, and a major client of POSCO.
The approval enables the Orissa government to immediately start acquiring land for POSCO.
"We welcome the decision by India's environment ministry. We will proceed with stalled steps such as land acquisitions," a POSCO spoeksperson said.
HURDLES REMAIN
But POSCO still has a long way to go to complete the Orissa project, since it has yet to receive a separate court ruling on iron ore mining rights from India. POSCO expects that to be decided by the first half of 2012 in order for construction to start later that year.
An Indian company that also bid for the mining concession has filed a lawsuit against the Orissa government, contesting the decision to grant a concession to the South Korean steelmaker.
"With the decision POSCO has cleared a major hurdle for its overseas expansion, but the most important part is gaining mining rights. Without mining rights, there's no strong merit for POSCO to build a steel plant in India," said Kim at Hana.
The project has been delayed by environmental issues and protests by local residents, who say the plant will disrupt their largely agricultural and forest-based livelihoods.
Steel companies are rushing to invest in India to tap the country's rich iron ore deposits, but have faced a series of obstacles such as land acquisition problems, environmental clearance and regulatory issues.
ArcelorMittal has announced plans to set up plants in India, but has so far been unable to acquire land.
Demand for steel in India is expected to rise 14 percent this year, outpacing the 5.3 percent global growth rate, fuelled by surging construction of buildings and infrastructure and massive investments by global carmakers, according to the World Steel Association.
POSCO is among several corporations, including Vedanta Resources Plc, to have come under the scrutiny of India's environment ministry, putting the department in conflict with others in the government who are pushing for rapid industrialisation.
In October, Ramesh threw out plans by London-listed Vedanta to expand its alumina refinery over environmental concerns, but this week Ramesh said he was willing to conditionally reconsider Vedanta's expansion plan.
Ramesh has described POSCO's project as "fundamentally different" from Vedanta's plans.
"There is a lot of concern in the market about food security, oil prices," said Arun Kejriwal, director of research firm KRIS.
"Most certainly a dead cat bounce is overdue, but I am not sure if that will make a difference to the direction of the market."
Telecoms stocks ended lower on India's plan to de-link second-generation radio (2G) spectrum that now comes free with telecoms licences and ask companies to pay for spectrum based on market-linked prices.
Bharti Airtel ended 2.6 percent lower, while Reliance Communications shed 2 percent. Idea Cellular closed 0.8 percent lower.
The top two software firms Tata Consultancy Services and Infosys Technologies were among the top losers, falling 2.2 percent and 1.8 percent respectively, on growing uncertainty about the outsourcing business momentum.
Emerging markets are, more than ever, a key topic at the annual meeting of the World Economic Forum in Switzerland. Traditionally, most focus has been on Western firms buying assets in fast-growing developing economies, to hedge against sluggish growth at home.
But it is a two-way street and, increasingly, emerging market firms are shopping in the developed world as they move up the value chain and pursue their own diversification.
"The three words that characterise the last decade have been 'Made in China'. The three words that are likely to dominate the next decade will be 'Owned by China'," said Gerard Lyons, chief economist at Standard Chartered.
"And by the time we move to the 2020s it will be 'Paid in renminbi'."
China may grab the most headlines, but it is not alone. Acquisitive companies from India, Mexico , Russia , Brazil and South Korea are also on the prowl.
Take Indian wind turbine maker Suzlon Energy, which owns 91 percent of Germany's REpower and whose chairman, Tulsi Tanti, says he can "leverage huge synergies" through matching REpower's technology with low-cost components.
Or Apollo Tyres, another Indian manufacturer that acquired businesses in the Netherlands and South Africa because, in the words of chairman Onkar Kanwar: "We are hungry and passionate and want to do things."
CARS AND BREAD
In the five years since China's Lenovo bought IBM's PC business for $1.25 billion, cross-border deals have changed other parts of the industrial landscape -- from cars to bread.
Jaguar and Land Rover are now owned by India's Tata Motors , while Mexico 's Grupo Bimbo will become the world's largest bread maker when it closes the purchase of Sara Lee's North American bakery business this year.
Firms in emerging markets want to move beyond the advantage of cheap labour -- anyway on the decline -- to create global organisations with the skill base found in Western companies.
The strategy looks to be working. By 2020, the top 100 stars of the developing world could collectively generate $8 trillion in revenues, roughly equivalent to aggregate S&P 500 revenues today, according to a new report from Boston Consulting Group.
The 100 "global challengers" come from 16 countries but China, India, Brazil, Mexico and Russia dominate the list.
"These companies see M&A as a path to access technology, to access channels and to access brands around the world," said Mark Foster, global head of management consulting at Accenture.
"We have to expect more of this because they've got the cash and, perhaps more importantly, they've got the confidence."
For emerging market firms, investing in sluggish developed world economies is a long-term play that sits alongside a parallel drive to snap up targets in other developing economies.
In that space, however, they are competing with Western multinationals whose growing appetite for assets in the world's big developing economies has driven up prices.
Last year, emerging markets accounted for 33 percent of the world's $2.4 trillion tally of all mergers and acquisitions -- totalling $806 billion, or a 76 percent increase over 2009, according to Thomson Reuters data.
Much of the activity was focused on resources, where China's state-owned firms, backed by soft loans, have made a land-grab for commodities, often in competition with India.
Asian groups like Sinopec of China and Thailand's PTT Exploration and Production struck deals last year ranging from buying stakes in oil fields to Korea National Oil Corp's hostile takeover of Britain's Dana Petroleum.
Helped by strong currencies, emerging market companies are also contemplating chunky deals in more advanced sectors.
DIALLING UP DEALS
Significantly, the biggest deal of any kind in 2010 was America Movil's $27.5 billion purchase, including debt, of Carso Global Telecom -- a tale of Latin American empire building by Mexican tycoon Carlos Slim.
India's Bharti Airtel, meanwhile, became the world's fifth largest mobile operator, by subscribers, after buying Zain's African operations for $9 billion in 2010, and Russia 's Vimpelcom is locked in its own fight for overseas expansion.
Things don't always pan out as planned for the new players.
Last year's $1.8 billion purchase of Ford's Volvo unit by Geely was a notable win for "China Inc", but earlier this month Xinmao threw in the towel on a 1 billion euros bid for Dutch cable maker Draka.
The odd setback and current fears of over-heating in some emerging markets are not likely to derail a key part of what Jim Quigley, CEO of Deloitte Touche Tohmatsu, describes as "the next phase in globalisation".
"What the U.S. and the UK accomplished in a 200-year span since the Industrial Revolution, we are going to watch China and India accomplish in a 30-year span," he said.
The chief executives of Tata Consultancy and Infosys told Reuters last Friday at Davos that Europe's debt crisis and rising inflation at home could slow the growth that they have enjoyed in recent years.
The main index fell 68.2 points to close at 18,327.76, with 17 of its components losing ground.
" Egypt is not a very big market for foreign institutional investors. There will be a reaction because of how it may affect the other regions, but a major reaction won't happen in India," said R.K. Gupta, managing director of Taurus Mutual Fund.
More than 100 people have been killed during six days of protests in Egypt aimed at toppling President Hosni Mubarak.
A wider conflagration in the region could threaten the flow of oil at a time when policymakers in emerging markets are already bedeviled by high food and fuel prices and some developed economies are gaining momentum.
Indian investors' sentiment has also been dented by soaring inflation and rate rises that are starting to hit corporate margins and leading to more foreign fund managers slashing holdings.
Foreign funds have pulled out over $1.06 billion from Indian equities in January until Thursday, in contrast with a record $29.3 billion they pumped in last year.
The rupee hovered near two-month lows pressured by the fund outflows.
"With the market and the rupee at these low levels, I will not be surprised if foreign funds start booking profits elsewhere to move to India," Taurus' Gupta added.
Banking shares were mixed after the banking sector index shed over 5 percent in the past three sessions on fears rising interest rates will hit demand for loans.
Mortgage lender Housing Development Finance Corp fell 2.7 percent and HDFC Bank dropped 0.8 percent, while top lenders State Bank of India and ICICI Bank bucked the trend and added 0.9 percent and 0.3 percent.
Top car maker Maruti Suzuki dropped more than 5 percent to a new 12-month low after its December-quarter net profit slipped 18 percent and its finance chief said cost pressures and competition would keep margins under pressure.
However, the shares rebounded towards the end of the session to close up 1.6 percent at 1,252.80 rupees.
Oil and Natural Gas Corp rallied more than 7 percent intraday after its quarterly net profit more than doubled, boosted by rising crude prices and one-time gains. The shares ended 3.7 percent higher at 1,177.55 rupees.
In the broader market, losers led gainers in the ratio of 1.5-to-1 on a volume of 329 million shares.
The Nifty or NSE-50 index was down 0.1 percent at 5,505.90 points.
By 1050 GMT, the MSCI world equity index and Thomson Reuters global stock index were down 0.3 percent each, while the emerging markets index declined 0.8 percent.
STOCKS THAT MOVED
* Siemens surged 21.6 percent to a 52-week high of 884.95 rupees after the company's parent Siemens AG said it was making an open offer to buy up to 19.82 percent stake in the Indian arm at 930 rupees per share. Its shares ended 17.3 percent higher at 853.50 rupees.
* MindTree plunged more than 14 percent to a 52-week low of 442.50 rupees after the company's chairman Ashok Soota resigned over the weekend. The software services provider's shares shed 5.1 percent to close at 489.20 rupees.
* Dr Reddy's Laboratories Ltd ended up 3.7 percent at 1,624.45 rupees after India's No. 2 drugmaker said a U.S. district court cleared the sale of its generic version of Sanofi-Aventis' allergy medicine Allegra D24.
MAIN TOP THREE BY VOLUME
* Unitech on 6.1 million shares
* SpiceJet on 4.6 million shares
* LIC Housing Finance on 3.8 million shares
"We are a homegrown multinational from a developing economy," said Jimmy Anklesaria, executive vice president for international operations at Godrej Consumer. "Our ability to understand consumers in developing economies is sharp."
Godrej bought Nigerian personal care products maker Tura last year for around $33 million, according to analysts, and has also bought hair care brands Rapidol and Kinky in South Africa over the past two years and is on the hunt for more acquisitions.
Companies and countries looking to buy up its natural resources has long dominated foreign investment in Africa.
Two blockbuster deals last year -- Bharti Airtel paid $9 billion for the African cellular assets of Kuwait 's Zain and Wal-Mart 's deal to buy South African retail chain Massmart for $4 billion -- show the allure of the continent's rising spending power.
That potential market has intrigued Indian makers of consumer goods such as Godrej, Dabur India, Marico and Emami, who have been among those buying up assets.
"There will be many more acquisitions made by Indian companies in the consumer space in the coming months," said a senior banker with Indian investment bank, which recently advised an Indian firm on a M&A deal in Africa. "We can expect some mid-sized acquisitions in early 2011."
RISING SPENDING POWER
African consumer spending will nearly double to $1.4 trillion by 2020, while the number of households in Africa with discretionary income will rise by 50 percent to 128 million over the same period, a recent McKinsey and Co. report predicted.
Indian companies hope to use their experience developing and selling products in markets where affordability is crucial to compete with global players such as Anglo-Dutch giant Unilever, which recently struck a deal to buy Sara Lee Corp's operation in Kenya.
"Africa is currently witnessing growth rates that India witnessed about 10-15 years back," said Anand Raghuraman, partner and director at the Boston Consulting Group.
A sizeable population of Africans of Indian origin in eastern to southern Africa give Indian companies an advantage over global competitors, including China.
Whereas global players sometimes sell one-size-fits all products, Indian manufacturers often adjust their offerings to suit local tastes and spending habits.
"The product portfolios of Indian companies are tweaked to suit local needs," said Debashish Mukherjee, principal with consultancy AT Kearney.
India was the most acquisitive country in sub-Saharan Africa in 2010, accounting for a third of the total value of deals done in the region, according to Thomson Reuters data. That was due mainly to Bharti Airtel's purchase of Zain's African assets.
RISKS AND GROWTH
Risks to Indian firms making acquisitions in Africa include overpaying in the competition for scarce attractive targets. Both the Bharti and Wal-mart deals were widely seen to be expensive.
Africa also remains price sensitive, so a spike in commodity prices would squeeze margins.
"In low-income countries, consumers spend a high proportion of their income on food and if prices shoot up as they did in 2007/08, they will immediately stop buying anything that's not essential," said Boris Planer, research director at Planet Retail.
Still, Indian consumer goods firms active in Africa expect growth of between 25-30 percent from their operations there, and expect opportunities to move beyond personal care to household care and over-the-counter healthcare products in coming years.
"Amongst all the Indian companies who are moving into Africa, Godrej and Dabur are best positioned to benefit maximum from the Africa story," given the early-mover advantage, said Shirish Pardeshi, a senior sector analyst with brokerage Anand Rathi.
SCRAMBLE
There is plenty of Indian competition for African assets.
Emami, which won board approval in October to invest $1 billion to buy assets overseas and in India, is looking for more deals in markets including South Africa, Kenya and Nigeria, Group Director Harsh Agarwal told Reuters.
Marico, with cash of $480 million, said it is looking to buy assets in North Africa and South Africa, while Godrej, with cash of $537 million as of end September , continues to hunt for buys across Africa.
Dabur, one of the most active Indian players in Africa, is sitting on cash reserves of $873 million and recently brought out U.S.-based personal care products maker Namaste Labs and its two African units for $100 million.
It is looking for assets in the $10-$50 million range in South Africa, Nigeria, Kenya, Ghana, Mozambique and Tanzania, said Sunil Duggal, its chief executive officer.
"Africa is a good hedge for what is happening in the Indian markets and now asset valuations there are attractive compared to India," he said.
Egypt unrest pushes world stocks lower
On Monday 31 January 2011, 3:24 PM
By Simon Jessop
LONDON (Reuters) - Global shares continued to slide on Monday, while Europe's benchmark Brent crude was just short of $100 a barrel on fears political unrest in Egypt could spread among regional oil-producing nations.
Protests to end the 30-year rule of President Hosni Mubarak continued over the weekend, heightening risk aversion for European investors already concerned by the effect their own region's sovereign debt crisis and inflation could have on growth.
"Whilst Egypt 's importance to the global economy is limited, its importance to the transportation of oil is huge," said Jonathan Sudaria, night dealer at London Capital Group.
"Traders are concerned that with already rising inflation and falling real incomes for consumers, a further rise in energy prices could really dampen any consumer confidence and prospects for growth."
Benchmark Brent crude had come off slightly to trade down 0.4 percent at $98.93 a barrel by 0900 GMT, after hitting a 28-month high on Friday.
"The Egyptian situation looks to be the primary factor," said David Land, chief market analyst at CMC Markets. The market is reacting to "what this could mean in terms of stability for such a vital region for energy production", he added.
The protests in Egypt follow the collapse of the Tunisian government two weeks ago, and there are fears of similar unrest in other autocratic states including oil-rich Gulf nations.
Protest-contagion fears and risk aversion pushed European shares lower again at the open, with the FTSEurofirst 300 down 1 percent at 0900 GMT after falling 1 percent on Friday.
Elsewhere, the MSCI world equity index and Thomson Reuters global stock index were also both down around 0.5 percent, while emerging stocks were down 1 percent.
Overnight in Asia, the Nikkei share average had ended down 1.2 percent while the MSCI Asia Pacific ex-Japan stock index fell 1.1 percent.
Among commodities, spot gold steadied after hitting an Egypt-fuelled eight-week high on Friday, while copper rose 1.1 percent and other base metals also gained on short-covering ahead of a week-long Chinese holiday.
EURO, BUNDS STEADY
Weakness in equities helped Bund futures edge higher in early trade, with the prospect of further turmoil in the Middle East underpinning sentiment.
The Bund future was up 0.1 percent to 123.87 by 0849 GMT compared with 123.73 at Friday's settlement close.
Cash 10-year Bund yields and the two-year Schatz yield were both flat.
Moody's on Monday downgraded Egypt to Ba2 with a negative outlook on the back of the protests, citing a "far more uncertain outlook".
In currency markets, the euro was up 0.1 percent against the dollar by 0853 GMT, steadying after a Friday selloff on the back of the Egypt protests.
The dollar was flat against a basket of major currencies.
Ramesh gives clearance for Posco but with 60 more conditions
After putting it on hold, Environment Ministry today granted conditional clearance for South Korean major Posco''s USD 12 billion steel mill project in Orissa which also includes a captive port, setting 60 additional conditions.
Environment Minister Jairam Ramesh sought categorical assurance from the Naveen Patnaik government stating that the Forest Rights Act (FRA) has not been violated in the land acquisition process for the single biggest foreign direct investment project in India comprising a steel mill, a captive power plant and a minor port.
"Environmental clearance for the steel-cum-captive power plant is being accorded with 28 additional conditions over and above stipulated in the original environmental clearance of July 19, 2007," Ramesh said in his order.
"The environmental clearance for captive port is being accorded with 32 additional conditions over and above stipulated in the original environmental clearance of May 15, 2007," the order signed by the Minister said Ramesh inked the final approval for diversion of 1,253 hectares of forest land for the project with the assurance from the state government that those claiming to be dependent on or cultivating the land in the project area do not belong to the other traditional forest dwellers (OTFD) category under the Forest Rights Act, 2006.
"Final approval of diversion of 1253 hectares of forest land for the Posco project would be granted as soon as this assurance of the state government is received by the MoEF," the Minister said.
Forest rights activists had claimed that the state government had violated the FRA by contending that the project area was free from non-tribal and other traditional forest dwellers (OTFD).
In August last year, Environment Ministry had directed the Orissa government to stop land acquisition for the project.
The step was taken on the basis of a ground report submitted by a three-member committee set up by the Environment and Tribal Affairs Ministries.
"Undoubtedly, projects such as that of POSCO have considerable economic, technological and strategic significance for the country," Ramesh said.
At the same time, the Minister also adopted a middle path to ensure economic growth and also maintain green balance, saying, "laws on environment and forests must be implemented seriouly." .
Fiscal deficit down 44.75pc to Rs 1.71 lakh cr during Apr-Dec
NEW DELHI: The Centre's fiscal deficit narrowed by 44.75 per cent year-on-year to Rs 1.71 lakh crore during the first three quarters of the current fiscal on the back of better-than-expected revenue from the sale of spectrum and robust tax collections.
The central government's fiscal deficit stood at Rs 3.10 lakh crore in the corresponding period FY10.
The sharp fall in the Centre's fiscal deficit was also due to the fact that despite the enhanced flows to the central exchequer, there was not a commensurate increase in government's expenditure and the RBI has blamed this for the present cash crunch in the system.
Expenditure by the central government rose by 11.21 per cent during the period to Rs 7.86 lakh crore from Rs 7.07 lakh crore in the year-ago period. In contrast, the Centre's fiscal deficit for the same period last year stood at 77.3 per cent of the Budget estimate for 2009-10.
At Rs 1.71 lakh crore, the fiscal deficit in April-December, 2010 amounted to 44.9 per cent of the Budget estimate of Rs 3.81 lakh crore for the entire 2010-11 fiscal, according to data released by the Controller General of Accounts.
The government collected Rs 3.91 lakh crore in taxes during the nine-month period, which was 73.2 per cent of the budgetary target for the entire fiscal.
In comparison, tax collections during the same period last fiscal amounted to just 64.9 per cent of the whole-year target.
Furthermore, non-tax revenue in April-December, 2010, stood at Rs 1.93 lakh crore, higher than the Budget estimate for the entire fiscal, primarily on account of higher realisation from the auction of spectrum, which raked in approximately Rs 70,000 crore more than the government estimated.
The Centre's fiscal deficit targets went awry after the government provided a stimulus to the economy in the aftermath of the global financial crisis that broke out in 2008.
Among the measures, the government slashed taxes and stepped up public expenditure to spur the growth of the economy. However, this also led to widening of the fiscal deficit.
As a result, the fiscal deficit doubled to over 6 per cent in 2008-09, as against the maximum permissible limit of 3 per cent stipulated by the Fiscal Responsibility and Budget Management Act. The deficit rose further to over 6.5 per cent in the last fiscal.
After the government partially rolled back the stimulus by raising excise duty, the Budget estimates pegged the fiscal deficit at 5.5 per cent of the GDP for the current fiscal.
However, despite the higher realisation from the sale of spectrum for high-speed telephony and broadband services, the government expects the fiscal deficit to be contained at the same level as its Budget estimate.
26 JAN, 2011, 06.38AM IST, MALINI GOYAL,ET BUREAU
India with $1,000 per capita income ready for growth marathon
NEW DELHI: It may have happened in the middle of 2010. It may happen a month from now. Or, it may happen by the end of this year. The precise timing matters less than the implication of the achievement, India's per capita income has either just about or will soon cross the $1,000-mark. In rupee terms, this translates into an average annual income of roughly Rs 45,000 for every Indian.
"The $1,000-income is the start of the take-off of a nation," says Janmejaya Sinha, chairman, Asia Pacific, of consulting firm BCG. "It is around this number that a nation gets out of subsistence spending and moves more and more into higher quality branded product," adds Chetan Ahya, MD, Research, Morgan Stanley .
China reached this threshold in 2003, and has since unleashed a consumption boom that the world is in awe of. Today, its per capita income is at $3,400.
What's so significant about the statistics of $1,000? After all, even countries like Ghana and Afghanistan too are close to achieving this figure. The figure is significant if it is accompanied by a few other things: an economy of the size of at least $500 billion, a healthy and sustainable growth rate in GDP and a large population. India has all the three pieces of this equation, and has them in plenty.
"It is the presence of all these factors together that makes both India and Indonesia exciting. We (India) will have to work really hard to mess it up," says Sinha.
Three aspects, timing, scale and speed, of India reaching the $1,000-per-capita-mark makes it out of the ordinary. The three will act as a force multipier for each other. The most obvious implication is the nature and size of consumption. India, like China in recent years, will be a consumption powerhouse of the world.
But the consumption curves could be markedly different from other countries that passed this threshold in the past. "This is the beginning of a series of inflection points in different product categories," says Sunil Dutt, president, personal systems, HP India .
Ahead of the global curve
This has huge implications for what Indians will consume in the coming years to come and at what rate. Thanks to innovations in technology and business models, what consumers in the West, or even in China, started to consume at the per capita income level of $2,000 or $3,000, Indians would begin to consume much earlier. The lower level of household debt will also influence the consumption pattern.
For example, in 2003, entry-level digital cameras cost around Rs 12,000 as against Rs 5,000 today. According to Alok Bhardwaj, senior VP, Canon India , in China, camera penetration moved from 3% to 15% between 2001 and 2010. India will make this transition in half the time, between 2010 and 2015.
MNCs' increasing focus on emerging markets and re-engineering of products will hasten the trend. In Japan and South Korea, the per capita threshold at which the car sales began to take off was around $3,500. But for India, a similar inflection point for the car industry can come much earlier at around $2,500 per capita income, says Anirudha Dutta, executive director, CLSA India .
30 JAN, 2011, 12.42AM IST, PANKAJ MOLEKHI,ET BUREAU
India's population: Demographic dividend or explosion?
NEW DELHI: If India were to outsource its ongoing national census 2011, it would need to employ half of Denmark for a little less than a year to complete the project. Logistic mumbo-jumbo apart, graphing and mapping the denizens of a country as diverse and divided as ours is a task of inhuman proportion. Yet, conducting a census is the smallest of the challenges that lie ahead of this 1.2-billion-strong nation. The biggest is harnessing our mammoth manpower into a skilled workforce—to enhance quality in the quantity. So that we can be the best of the world.
"The same teeming millions that once evoked images of hungry, wailing children in the mid-Seventies, have proved to be our biggest strength today in the form of vibrant workers and consumers," says Ashish Bose , a member of the National Commission on Population headed by the PM. "This was made possible because we were able to equip ourselves with scientific education and specialised skills." However repetitive it may sound, this was possible not because of our political leadership but in spite of them.
In his 1939 address to the Tripuri Congress, Subhash Chandra Bose was perhaps the first Indian leader to sound a Malthusian crisis, when the well-meaning (then) Congressman said: "With regard to the long period programme of a free India, the first problem to tackle is that of our increasing population." The following year, a panel on population submitted a report that linked population stabilisation to socio-economic development, emphasising on "limiting excessive population pressure". In the subsequent decades, the approach of successive governments towards population planning swung from the Nehruvian pragmatic to Sanjay Gandhi's lunatic measures.
In an interview given to ET, JRD Tata had reminisced how Nehru once retorted to his concerns on rising population. "Nonsense, a large population is the greatest source of power of any nation," the first prime minister of Independent India is believed to have told the industry doyen. Interestingly, his words proved prophetic only after India shed its socialistic hangover and moved towards a liberalised economy in the early Nineties. But that is not the end of the story. Nandan Nilekani in his book Imagining India, while corroborating the rise in population with surge of economic growth, also underlines the dangers of being too complacent. Education, healthcare, dwindling gender ratio, inequity are some of the issues that requires attention before one gloats over the growing millions of consumers and free-flowing foreign direct investments.
The question of whether a large population is a bane or a boon has changed into the need for creating a sustainable population to keep economic growth going. All over the developed world, population is shrinking and aging at a rapid pace, be it Europe, the US or Japan. The impact is possibly the worst in Japan where over 22.5 per cent of the population is over the age of 65, which is expected to increase to 40 per cent by 2055. It is estimated that the Japanese population of 128 million could come down to 96 million by 2050 and 64 million by 2100. In 2007, there were 29,000 few Japanese than a year before. Their economic growth has been affected in the last decade and the prospects for the next two decades are bleak as the working age population continues to decline.
India can count several advantages here. "While India would be going through the most exciting phase of economic development ever over the next 20 years, with the potential to grow its economy by over four times, the lack of an adequately educated and skilled population would be a drag preventing the country from achieving its potential," says TV Mohandas Pai of Infosys Technologies .
To the question what is needed to do to make the population more productive, Pai points out that all societies which have grown wealthy have done so because of the availability of immense natural resources or an increase in the education and skills level of its population. "The government has come out with a skill development mission to create a skilled population of 50 million but lack of an adequate institutional mechanism, bad labour laws which go against the need for more apprenticeship programmes and lack of investment at the right level, the odds are against achieving this number."
Politicians or sociologists may suggest caution, but marketers are gung ho with the surge in numbers and change in attitudes. A younger, more literate India is driving the growth of consumption in India. The NCAER-CMCR youth readership survey estimates that of the 459 million youth in 2009, 333 million are literate.
5 JAN, 2011, 01.45AM IST, AMIT BAPNA,ET BUREAU
An educated population is the nation's greatest asset: Kapil Sibal
If there's one sector that's at the cusp of massive growth, it's education. According to an Ernst & Young study on the higher education sector in India, spends on higher education stand at Rs 46,200 crore. The growth rate for this segment is projected at 12.8% and is expected to touch nearly Rs 150,000 crore in the coming decade, the report says. Right from kindergarten to PG, there is an influx of players who are looking to create a niche through various marketing and branding initiatives. In an exclusive with ET, Union Minister for Human Resource Ddevelopment, Kapil Sibal , dwells on the role of private sector in the education space and how an education brand should be marketed as 'a social or a public good'.
What role can private sector play in enhancing quality in education? What according to you is the best example of public-private sector cooperation you have seen in the education sector?
Let me at the outset place a few facts for you to clarify the issues involved. We all recognise that an educated population is the nation's greatest asset. The government has accordingly set the goal to achieve near universalisation (100% enrolment and attendance) for primary education, enhance the gross enrolment ratio in secondary education from 50% to 75% and in higher education from 13% to 30% within this decade. The task is unprecedented in the annals of human history and beyond the capacity of either the government or private sector alone.
We thus need both government and private players to work with each other in a synergistic and symbiotic relationship rather than in an antagonistic mode. The government has the advantage of existing infrastructure, credibility and scale, whereas private sector is innovative, dynamic and has a strong management culture. Private sector can thus help to bring in competitive merit and to force periodical changes in curriculum, pedagogy, delivery mechanisms, examination system remuneration and governance across the entire educational sector.
One measure to harness the strengths of both is through government-owned private managed educational institution albeit with pre-specified conditionalities, including outcomes and performance. Several successful examples of such co-operation are there in the vocational education sector.
With the huge demand for education across levels—from pre-primary to post-graduate—education is being marketed aggressively. What do you think of this trend?
Today most private sector players treat education as any other product to be packaged and marketed as a 'private good', however I would like to consider it to be a 'social or a public good' and thus to be marketed appropriately and responsibly.
What according to you constitutes an education brand?
An education brand arises from five attributes: quality, value for money, USP, social recognition and acceptability.
What are some dos and don'ts that education institutes should keep in mind while they embark on marketing themselves?
Dos: observe complete truthfulness, transparency and clarity in regard to infrastructure, faculty, financial integrity, fees/ charges, accreditation/ recognition, performance and placement.
Govt names Hazarika interim chief of ONGC, Narasimhan of IOC
The government today named A K Hazarika as acting chairman of Oil and Natural Gas Corp (ONGC) and S V Narasimhan as interim head of Indian Oil Corp (IOC).
The interim appointments have been made as Oil Minister S Jaipal Reddy is yet to approve files pertaining to the appointment of fulltime chairmen of the two companies.
Hazarika, currently Director (Onshore) and the seniormost director on ONGC, has been appointed acting Chairman and Managing Director of ONGC for three months with effect from February 1 or till a regular incumbent is appointed, whichever is earlier, government orders said.
He takes over from R S Sharma, who superannuated today. Hazarika has also been given additional charge of Director (Exploration) upon superannuation of DK Pande today.
Similarly, Narasimhan, currently Director (Finance) and the seniormost on IOC board, will takeover from February 1, the order said. He replaces acting Chairman B M Bansal, who too superannuated today.
IOC has been without a permanent chairman since March 1, 2010 after government decided not to continue with Sarthak Behuria till his superannuation in 2012.
While Bansal, the senior most director on IOC board, was appointed acting chairman from March 1, government headhunters Public Enterprise Selection Board on September 29 interviewed potential candidates and selected R S Butola for the post.
Just a day before that PESB had selected R K Singh to head Bharat Petroleum , where the vacancy of Chairman and Manging Director arose when Ashok Sinha quit in August, 2010.
Sources said formalities of Singh's appointment including clearances by anti-corruption bodies and ratification of his candidature by the Cabinet Committee on Appointments were completed in two months and Singh took over on December 8.
But in case of IOC, the file movement started only in December-end, they said, adding the file seeking appointment of Butola had reached Cabinet Secretariat on January 19 when Reddy replaced Murli Deora at the Oil Ministry.
The file was sent back to Reddy for concurrence and is still lying on the new minister's desk, they said.
In case of ONGC, PESB had on October 19 selected Sudhir Vasudeva, Director (Offshore), ONGC, to replace Sharma. CVC while processing his file for clearance, sought certain clarification from the oil ministry and the same is lying with Reddy's office, sources said.
The problem is more severe at ONGC which is without a Director (Human Resources) since mid-July when Ashok Balyan moved jobs to Petronet LNG. PESB will interview potential candidates for the position on February 22, sources said, adding Director (Exploration) D K Pande too retired today and appointment of his replacement too is stuck with Reddy.
Govt can garner Rs 90K cr from 1.8Mhz of 2G spectrum sale:TRAI
The government can collect over Rs 90,000 crore by allotting additional 1.8 Mhz of 2G spectrum to six new operators with pan-India operations, going by TRAI's draft recommendation for 2G spectrum pricing .
Telecom Minister Kapil Sibal has fixed the contracted amount of start-up spectrum at 4.4 Mhz for new operators (who got licences in 2008) vis-a-vis 6.2 Mhz for old operators like Bharti, Vodafone and Idea.
As per the new policy, the new operators would have to pay market price for additional 1.8 Mhz of spectrum to come at par with the old operators.
Sources in the know said that TRAI is contemplating a maximum price of Rs 707.28 crore per Mhz of spectrum (1800 band) for the Uttar Pradesh (East) circle followed by Rs 617.09 crore per Mhz for Rajasthan circle.
According to TRAI's draft recommendations, the pan-India value for 1.8 Mhz would cost a new operator over Rs 15,082 crore to take the initial start-up spectrum to 6.2 Mhz level on par with old operators.
TRAI is in process to give its recommendations on 2G spectrum prices. Earlier, it had proposed linking 2G spectrum prices with 3G. This was opposed by the incumbent operators following which the TRAI had said that it would re-visit the matter.
Meanwhile, Telecom Minister Kapil Sibal has announced new spectrum policy and delinked spectrum from licence. According to the new regime, the operators would have to pay a market price for start-up as well as additional spectrum.
While announcing the policy, the minister had said that the ministry would wait for TRAI's recommendations on spectrum pricing and then a final decision would be taken on whether to follow the auction route or fix a market-driven price for each Mhz of spectrum.
Each Mhz of spectrum on pan-India basis would cost over Rs 8,380 crore with highest bid in Uttar Pradesh (East), according to draft recommendations.
According to industry analysts, the new regime of spectrum pricing may push upward tariffs for mobile services, as the operators would have to pay heavily for procuring airwaves compared to
Reports said that after the news spread stating MoEF cleared the POSCO project the project supporters mainly the United Action Committee [UAC] a pro project outfit of the area expressed happiness and extended warm wishes to the union forest minister Jairam Ramesh and UPA led Congress government including state ruled BJD government and asserted the project would be come up very soon.
Speaking to this correspondent Nirvaya Samantray UAC general secretary remarked we feel jubilant after knowing the union MoEF decision and still maintained supporting the project and demanded our earlier 29 demands relating to the project would be considered sympathetically.
Another UAC leader Tamil Pradahn remarked against both union and state governments and blamed owing lack of coordination between both governments POSCO project is lagging and said the mega steel project at utter uncertainty and several committees reports have been beaten the state government black and blue and that had too exposed the state government failing to do the ground works perfectly before and after the signing of the MoU with South Korean steel major so after getting clearance the state government needs to look after their old faults, he suggested.
On turn the anti project out fit PPSS who has been opposing the project since the state government sign the MoU with POSCO has criticized the conditional clearance to the POSCO project and port and described MoEF has delivered bias clearance in favour of POSCO without considering the factual aspects and ground realties so we are forced to go on agitation and ready to fight with the both union and state governments, informed Abhya Sahoo, PPSS chairman.
Meanwhile sources added PPSS has decided to host a massive rally and protest meeting at Patana village on Tuesday opposing the union MoEF conditional clearance to the POSCO and several anti industrialization outfits and their leaders including left party leaders would grace the occasion.
http://orissadiary.com/CurrentNews.asp?id=24326
Foreign capital has a key role to play in the economic development of India. It is recognized that almost third share of the investment in India is by NRI. Indian government has been continuously proceeding for economic reforms and is quiet assure to secure legislation to allow more foreign investment in areas such as insurance. On top of it, the Government knows the key role of Foreign Direct Investment (FDI) in economic development not only as an addition to domestic capital but also as an important source of technology and global best practices.
Foreign direct investment (FDI) has always played a major role in the economic development of developing nations like India after playing the leading source of external financing in 1990s. India has now become the third most favored destination for Foreign Direct Investment (FDI), behind China and the USA.
With an increase of 18.6 per cent from U.S.$ 2,696 million in 1996-97 to U.S.$ 3,197 million in 1997- 98. With this FDI inflow in the country rose nearly three-fold to $15 billion in 2006-07 as the world's second-fastest growing economy attracting investors from across the world.
The rise in FDI volume has changed the composition of market resulting investment happening in the form of acquisition of existing assets (mergers and acquisitions) growing much more rapidly than investment in new assets particularly in countries undertaking extensive privatization of public enterprises.
According to the Global Development Finance report, the net private capital flows to developing countries reached a record $647 billion in 2006 – a 17 percent increase from the year before. However, only about 8 percent of that capital flowed to the poorest 51 countries showing India as the most important of the other growth markets in Asia. The country has achieved steady economic growth, with an increase of 7 per cent in 2005 alone after starting the gradual economic liberalization process in 1991. Now the country has a liberal and transparent FDI policy.
Still the government needs to focus on the real barriers to its foreign investment goals – namely inflexible labor laws and poor roads and other infrastructure. Also there is a need for higher foreign investment, in the form of foreign direct investment (FDI) and FII. These type of investment initiates technology spillovers, assists human capital formation, contributes to international trade integration and particularly exports, helps create a more competitive business environment, enhances enterprise development, increases total factor productivity and, more generally, improves the efficiency of resource use.
Over the past few years the far-reaching measures introduced by the government to liberalize the Indian market and integrate it with the global economy are widely acknowledged. The value of foreign trade has increased substantially with increase in both exports from and imports into India. This can be justified by the statement that the total volume of foreign trade in 2001-02 was over US$ 95 billion. In addition to this, the government had announced, in April 2000, the establishment of Special Economic Zones (SEZ) policy to boost exports and attract foreign investments. Here, the SEZs would offer world class infrastructure
In the manufacturing sector, companies have consolidated around their area of core competence by tying up with foreign companies to acquire new technologies, management expertise and access to foreign markets. The cost benefits associated with this sector have positioned India as a favorite destination for manufacturing and sourcing for global markets. In the financial sector it is required that public policy should be focused on maximizing benefits achieved by the growing involvement of foreign firms by encouraging diversity and competition not only between foreign and domestic banks but also between banks and financial institutions. Whereas, smooth functioning of the market for corporate control would be assisted by greater international compatibility of accounting standards, takeover rules, and insolvency codes.
Certain projects coming from the Reserve Bank or the Securities and Exchange Control of India or Sebi can come through without any barriers or permission. India could thus be said to be opening up to genuine investors.
http://www.altiusdirectory.com/Business/foreign-capital.html
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27 Aug 2009 ... South Korean steelmaker POSCO will start construction early next year of a billion project in India that has been delayed by farmers' ...
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Odisha ଓଡିଶା
— state — 
SealFrom Top The Jagannath, Subhadra and Balabhadra in famous Patachitra paintings, The white tigers inNandankanan, statue of Buddha in Bhubaneswar, Sun Temple Wheel in Konark, the famous Rath Yatra and Odissi dancers in front of Konark Sun Temple.
Location of Odisha in India
Coordinates 
20.15°N 85.50°ECoordinates: 20.15°N 85.50°ECountry 
IndiaDistrict(s) 30 Established 1 April 1936 Capital Bhubaneswar Largest city Bhubaneswar Governor Murlidhar Chandrakant Bhandare Chief Minister Naveen Pattnaik Legislature(seats) Unicameral (147) Population • Density
40,706,920 (11th)
• 261 /km2 (676 /sq mi)
HDI (2005) 
0.452 (low) (27th)Literacy 68.8% (19th) Official languages Odia Time zone IST (UTC+5:30) Area 155820 km2 (60162 sq mi) Website www.orissa.gov.in Orissa (Oriya: ଓଡିଶା), also known as Odisha (Oriya: ଓଡି଼ଶା), is a state of India, located on the east coast of India, by the Bay of Bengal. It is the modern name of the ancient nation of Kalinga, which was invaded by the Maurya Emperor Ashoka in 261 BC. The modern state of Odisha was established on 1 April 1936 at Kanika Palace, Cuttack, as a province in India,[1] and consists predominantly of Odia speakers.[2] 1 April is therefore celebrated asUtkal Divas (Odisha Day).
Odisha is the ninth largest state by area in India, and the eleventh largest by population. Odia is the official and most widely spoken language with 93.33% Odia speakers according to linguistic survey. Odisha has a relatively unindented coastline[3] (about 480 km long[4]) and lacks good ports,[3] except for the deepwater facility at Paradip. The narrow, level coastal strip, including the Mahanadi River delta supports the bulk of the population.[5] The interior of the state is mountainous and sparsely populated.[5] Deomali at 1672 m is the highest point of the state. Odisha is subject to intense cyclones. The most intense one, in October 1999,Tropical Cyclone 05B caused severe damage and some 10,000 deaths.
Odisha is home to the Hirakud Dam, near Sambalpur the longest earthen dam in the world.[6][7] Odisha has several popular tourist destinations. Puri, Konark & Bhubaneswar are known as Golden triangle of eastern India. Puri, with the Jagannath temple near the sea (famous for Rath Yatra or the Car Festival), and Konark, with the Sun Temple, are visited by thousands of tourists every year. The Jagannath Temple of Puri, the Konark Sun Temple, theLingaraj Temple, Udayagiri and Khandagiri Caves, Dhauligiri of Bhubaneshwar, Ashoka's famous Rock Edict at Jaugada near Berhampur city and the Barabati Fort of Cuttack are important in the archaeological history of India.
Contents
[hide][edit]History
Main article: History of OdishaSee also: Historic sites in Odisha and History of Kalahandi[edit]Origin of the name of the State
Orissa was renamed as Odisha and Oriya language was renamed as Odia on November 9, 2010[8] by Parliament of India.
The name Odisha is derived from the Sanskrit Odra Vishaya or Odra Desa. Both Pali and Sanskrit Literatures mention the Odra people as Oddaka and Odrah, respectively. Greekwriters like Pliny the Elder and Ptolemy described the Odra people as Oretes. In theMahabharata the Odras are mentioned along with the Paundras, Utkals, Mekalas, Kalingasand Andhras, while according to Manu the Odras are associated with the Paundrakas,Dravidas, Kambojas, Yavanas, Sakas, Paradas, Pallavas, Chinas, Kiratas and Khasas. The location of the Odra territory has been given in the Natural History of Pliny in which it is mentioned that the Oretes were inhabiting the country where stood the Mount Maleus. The Greek Oretes is probably the Sanskrit Odra and the Mount Maleus has been identified with Malayagiri near Pala Lahara. Pliny associates the Mount Maleus with the people called Monedes and Sharis who were probably the same as the Mundas and the Savaras respectively inhabiting the upland regions of Odisha.
The Chinese pilgrim Hiuen-Tsang who visited Odisha in about 636 A.D. gives an account of the territory named Wu-Che which is very likely the same as Odra. The pilgrim states that the Wu-Cha (Wu-tu) country was above 7,000 li in circuit and its capital was above 20 li in circuit. The area of the territory, which was 7,000 li or (2,253 km) in circuit, was very extensive.
General Cunningham who calls this territory as Odra or Odra Desa writes as follows: "The ancient province of Odra desa or Or-desa was limited to the valley of the Mahanadi and to the lower course of the Subarnarekha river. It comprised the whole of the present districts of Cuttack and Sambalpur and a portion of Midnapore. It was bounded on the West by Gondwana, on the North by the wild hill states of Jashpur and Singhbhum, on the East by the sea and on the South by Ganjam. These also must have been the limits in the time of Hiuen-Tsang as the measured circuit agrees with his estimate".
The Muslim geographer lbn Khurdadhbin who wrote his geography in 846 AD refers to a territory called Ursfin which is identified by the Russian scholar V. Minorsky with Odra Desa. In another Persian geography called Hudad-al Alam written towards the close of the 10 th century A.D. mention has been made of a territory called Urshin (Odra Desa) which has been associated with the territories called N. Myas, Harkand, Smnder and Andhras which were more or less contiguous. The territory called N. Myas may be Mahismati and Harkand is suggested to be Akarakhand (eastern Malwa). Urshin may be the same as Odra Desa and Smnder may be the territory bordering the sea. Andhras is without doubt the same as Andhra Desa. Alberuni has referred to a territory called Udra Vishau located 50 forsakhs towards the sea in the south from the Tree of Prayaga. Fifty forsakhs is equal to about 200 miles or 321.86 km. So Udra Vishau may be the same as Odra Desa.
In the mediaeval Muslim chronicles like Tabaquat-I-Nasiri, Tabaquat-I-Akbari, Riyadus-Salatin, Tarkh-I-Firuzsahi, etc., the Odra territory has been referred to as Jajnagar probably after the capital Yayatinagar or Jajatinagar. The territory of Jajnagar very probably denotes to the Ganga empire during the period from Chodagangadeva to Anangabhimdeva III when Jajatinagar (modern Jagati on the Mahanadi) was the capital of that empire. It was Anangabhimadeva III who transferred the capital from Jajatinagar to Baranasi Kataka. Even after the change of capital some Muslim chroniclers continued to call this territory as Jajnagar. Shams-I-Seraj-Afif called this territory as Jajnagar-Udisa with its capital city Banaras on the right bank of the Mahanadi. The word 'Udisa' added to Jajnagar appears very significant. It is a developed form of the word Ursfin or Urshin used by earlier Muslim writers of the 9 th and 10 th centuries A.D. In Buddhist literature this word is expressed as Odivisa or Udivisa as found in the works of Lama Taranath and the author of Pag-Sam-Jon-Zang. In the Tantric literature of the mediaeval period the word Udisa has been frequently used and in Tantrasara, Jagannath has been referred to as Udisanatha. Poet Sarala Das mentions both the words Odra Rastra and Odisa in his famous treatise Mahabharata while Gajapati Kapileswaradeva (1435–1467 AD) in his proclamation inscribed on the temple walls of Jagannath calls his territory as Odisha Rajya or Odisha Rastra. Thus from the 15 th century AD onward the land of the Odia people was called Udisa, Orissa, Odisha.
[edit]Odisha in pre-historic age
Since prehistoric days the land of Odisha has been inhabited by various people. The earliest settlers of Odisha were primitive hill tribes. Although prehistoric communities cannot be identified, it is well known that Odisha had been inhabited by tribes like Saora or Sabar from the Mahabharata days. Saora in the hills and the Sahara and Sabar of the plains continue to be an important tribe distributed almost all over Odisha. Most of the tribal people have been influenced by Hindus and have adopted Hindu manners, customs and rituals. Bonda Parajas of Koraput district are the best example of these tribes.
Several pre-historic sites have been excavated in Odisha since the arrival of Britishers. Kaliakata of Angul, Kuchai & Kuliana of Mayurbhanj, Vikramkhol near Jharsuguda, Gudahandi and Yogimath of Kalahandi, Ushakothi of Sambalpur, Similikhol near Bargarh etc.
[edit]History of Ancient Odisha
Odisha has a history spanning a period of over 5,000 years. Before Kalinga it was named as Udra or "Odra Desa". The Ancient Odra desa or Ordesa was limited to the valley of Mahanadi and to the lower course of Subarnarekha River. It comprised the whole of the present districts of Cuttack and Sambalpur and a portion of Midnapur. Bounded on the west by Gondwana, on the north by the wild hill states of Jaspur and Singhbhum, on the east by the sea and on the South by Ganjam, Odisha has a legendary history.[9] The name Odia originated from Odra orUdra tribes that inhabited the central coastal belt (Khordha District and Nayagarh District) of modern Odisha. Odisha has also been the home of the Kalinga, Utkal, Mahakantara/Kantara and Kosal that played a particularly prominent role in the region's history, and one of the earliest references to the ancient Kalingas appears in the writings of Vedic chroniclers.[10] In the 6th century BC, Vedic Sutrakara Baudhayana mentions Kalinga as being beyond the Vedic fold, indicating that Brahminical influences had not yet touched the land.[10] Unlike some other parts of India, tribal customs and traditions played a significant role in shaping political structures and cultural practices right up to the 15th century,[10] when Brahminical influences triumphed over competing traditions and caste differentiation began to inhibit social mobility and erode what had survived of the ancient republican tradition.
A major turning point in world history took place in Odisha.[10] The Kalinga War that led emperorAshoka to embrace non-violence and the teachings of Buddha was fought here in 261 BC. Ashoka's military campaign against Kalinga was one of the bloodiest in Mauryan history on account of the fearless and heroic resistance offered by the Kalingas to the mighty armies of the expanding Mauryan empire. Perhaps on account of their unexpected bravery, emperor Ashoka was compelled to issue two edicts specifically calling for a just and benign administration in Kalinga. Later on, Ashoka was instrumental in spreading Buddhist philosophy all over Asia. However, Ativ Land (South Western Odisha) was unconquered by Ashoka.
Tel river civilization put light towards a great civilization existing in Kalahandi, Balangir, Koraput (KBK) region in the past that is recently getting explored.[11] The discovered archaeological wealth of Tel Valley suggest a well civilized, urbanized, cultured people inhabited on this land mass around 2000 years ago[12] and Asurgarh was its capital. Kalahandi along with Koraput and Bastar was part ofKantara referred in Ramayana and Mahabharata.[13] In 4th century B.C. this region was known as Indravana from where precious gem-stones and diamond were collected for the imperial Maurya treasury.[14] During the period of Maurya emperor Ashoka, Kalahandi along with Koraput and Bastar region was called Atavi Land.[15] This land was unconquered as per Ashokan record.[16] In the beginning of Chrisitan era probably it was known as Mahavana.[17] In 4th Century A.D. Vyaghraraja was ruling over Mahakantara comprising Kalahandi, undivided Koraput and Bastar region.[18] Asurgarh was capital of Mahakantara.[19]
On the other hand in the third century BC, in the eastern part of Odisha Kalinga flourished as a powerful empire under theJaina emperor, Kharavela.[20] He ruled all the way down south to include parts of the Tamil country. He built the superb monastic caves at Udayagiri and Khandagiri Caves. Subsequently, the region was ruled under various monarchs, such as Samudragupta and Shashanka. It also was a part ofHarsha's empire. In 795 AD, the king Yayati Kesari I of Kesari or Soma dynasty of Kosala united Kosala and Utkala into a single empire. He is also supposed to have built the firstJagannath Temple at Puri,[21] although the current structure of the temple is entirely different and was built by Kings Choda Gangadeva and Ananga Bhimadeva of the Eastern Ganga Dynasty in the 12th century. The famous Lingaraja temple in Bhubaneshwar was started by Keshari dynasty king Yayati Keshari III and completed by his son Lalatendu Keshari in the 10th century. King Narasimha Dev is reputed to have built the magnificent Konark Sun Temple. Although now largely in ruins, the temple may have once rivaled the Taj Mahal in splendour.
The Mughals conquered Coastal Odisha in 1576.[22] The last Hindu Emperor of Odisha, Gajapati Mukunda Deva, was defeated and was killed in the battle of Gohiratikiri. The coastal plain of Odisha from Medinipur to Rajahmundry came under Mughal rule, which was broadly divided into six parts as Jaleswar Sarkar, Bhadrak Sarkar, Cuttack Sarkar, Chicacole (Srikakulam) Sarkar, Kalinga Dandapat and RajamundrySarkar or Godavari Province. Odisha's Central, Northern, Western and Southern hilly areas were ruled independently by Hindu kings. TheNizam of Hyderabad occupied the area between Rajahmundry to Srikakulam in 16th century. Medinipur was attached to Bengal province in 18th century. The remaining parts of Coastal Odisha, were subsequently ceded to the Maratha Empire in 1751.
The British occupied the Northern Circars comprising the southern coast of Odisha as a result of the Carnatic Wars in the early 1760s and incorporated them into the Madras Presidency gradually.[23] In 1803, the British under the British East India Company annexed the Maratha province of Odisha after the Second Anglo-Maratha War. The northern and western districts of Odisha were incorporated into Bengal Presidency. Following famine and floods in 1866, large scale irrigation projects were undertaken in the last half of the 19th century. The coastal section was separated from Bengal and made into the Province of Bihar and Odisha in 1912, in response to local agitation for a separate state for the Odia-speaking people. In 1936, Bihar and Odisha were split into separate provinces. Thus after a long period of struggle the Odia people got re-united after centuries of political separation. On 1 April 1936, the new province of Odisha came into existence on linguistic basis during the British rule in India with Sir Jhon Austin Hubbak as the first Governor. A long cherished dream of Odia people and their leaders like Madhusudan Das, Maharaja Krushna Chnadra Gajapati, Pandit Nilakantha Das, Bhubanananda Das and many other came true. The district of Ganjam was transferred from Madras Presidency to the new province of Odisha on 1 April 1936. From that time onwards people of Odisha celebrate the day 1 April as Utkal Divas or Odisha Day.
Following Indian independence, the area of Odisha was almost doubled and the population was increased by a third by the addition of 24former princely states. In 1950, Odisha became a constituent state in the Union of India.
[edit]Sub-divisions
Main article: List of districts of OdishaThere are 30 districts in Odisha—Angul, Boudh, Bhadrak, Bolangir, Bargarh, Balasore, Cuttack(Kataka), Debagarh, Dhenkanal, Ganjam, Gajapati, Jharsuguda, Jajapur, Jagatsinghpur, Khordha,Keonjhar, Kalahandi, Kandhamal, Koraput, Kendrapara, Malkangiri, Mayurbhanj, Nabarangpur,Nuapada, Nayagarh, Puri, Rayagada, Sambalpur, Subarnapur, Sundargarh. Each district is governed by a district collector or district magistrate, appointed either by the Indian Administrative Service or the Odisha Administrative Service. Each district is subdivided into Sub-Divisions, governed by a sub-divisional magistrate, and again into Blocks. Blocks consists of panchayats (village councils) and town municipalities.
The capital and largest city of the state is Bhubaneshwar and its another name is temple city. Other major cities in Odisha are Cuttack, Berhampur, Rourkela, Sambalpur, Bhadrak, Jajpur,Balasore & Puri.
[edit]Geography
Bhubaneshwar is the capital of Odisha. It is famed for its magnificent temples, numbering around a thousand. Cuttack, the former capital of Odisha, is 22 km from Bhubaneshwar. With the rapid expansion of two cities and better road connectivity, the two cities are now almost conjoined and considered as twin cities. The city of Puri is about 60 kilometers from Bhubaneshwar and lies on the coast of the Bay of Bengal. Puri is considered a holy city and the abode of the deity Lord Jagannath. It is one of the Char Dhams (Four holy places) of Hinduism. The world-famous "car festival" (rath yatra) is celebrated every year in the Hindu month of Ashadha (Mid June to Mid July) in Puri.
The Chota Nagpur plateau occupies the western and northern portions of the state, while along the coast are fertile alluvial plains and the valleys of the Mahanadi, Brahmani, and Baitarani rivers, which fall into the Bay of Bengal. These alluvial plains are home to intensive rice cultivation. The Central Rice Research Institute (CRRI), Asia's largest rice research Institute is situated along the bank of Mahanadi inCuttack. One of the major nesting ground for the Olive Ridley sea turtles can be found in the Beaches of Odisha; in Devi, Gahirmatha and Rushikulya, which are known to be the nesting sites for the L. olivacea Indian Ocean population. In 2007, around 130,000 turtles nested on the beaches of Gahirmatha. The shore line also acts as their mating site and have attracted various scientific communities for research and studies.
Although most of Odisha's forest cover has been denuded lately, one of the greatest attractions of Odisha is its still vast expanses of unspoiled natural landscape that offer a protected yet natural habitat to the state's incredible wildlife. There are many wildlife sanctuaries in Odisha. The Simlipal National Park Tiger Reserve is a huge expanse of lush green forest with waterfalls, inhabited by tigers, elephants, and other wildlife. The Bhitarkanika Wildlife Sanctuary has been protecting estuarine crocodiles since 1975.
Chilka Lake, a brackish water coastal lake on the Bay of Bengal, south of the mouth of the Mahanadi River, is the largest coastal lake in India and the second largest in the world. It is the largest wintering ground for migratory birds on the Indian sub-continent. It is protected by the Chilka Lake Bird Sanctuary, which harbors over 160 migratory and resident species of birds. Birds from as far as the Caspian Sea, Lake Baikal, Aral Sea and other remote parts of Russia, Kirghiz steppes of Mongolia, Central and southeast Asia, Ladakh and Himalayas come here. It also has the small area of Satpada which is a safe sanctuary for the lesser known and endangered Irrawaddy Dolphins.
The highest mountain peak in the state is Deomali (1672 m), which is situated in Koraput district in southern Odisha. It is also the tallest peak of the Eastern Ghats. It is part of the Chandragiri-Pottangi mountain system. Location: 18°40'3"N 82°58'59"E (Deomali on Wikimapia).
[edit]Physiography
On the basis of homogeneity, continuity and physiographical characteristics, Odisha has been divided into five major morphological regions : 1) the Odisha Coastal Plain in the east, 2) the Middle Mountainous and Highlands Region, 3) the Central plateaus, 4) the western rolling uplands and 5) the major flood plains.
[edit]Odisha Coastal Plains
The Odisha Coastal Plains are the depositional landforms of recent origin and geologically belong to the Post-Tertiary Period. The 75 metre contourline delimits their western boundary and differentiates them from the Middle Mountainous Region. This region stretches from the West Bengal border, i.e. from the River Subarnarekha in the north to the River Rushikulya in the south.
This region is the combination of several deltas of varied sizes and shapes formed by the major rivers of Odisha, such as the Subarnarekha, the Budhabalanga, the Baitarani, the Brahmani, the Mahanadi, and the Rushikulya. Therefore, the coastal plain of Odisha is called the "Hexadeltaic region" or the "Gift of Six Rivers". It stretches along the coast of the Bay of Bengal having the maximum width in the Middle Coastal Plain (the Mahanadi Delta), narrow in the Northern Coastal Plain (Balasore Plain) and narrowest in the Southern Coastal Plain (Ganjam Plain). The North Coastal Plain comprises the deltas of the Subarnarekha and the Budhabalanga rivers and bears evidences of marine transgressions. The Middle Coastal Plain comprises the compound deltas of the Baitarani, Brahmani and Mahanadi rivers and bears evidences of past 'back bays' and present lakes. The South Coastal Plain comprises the laccustrine plain of Chilika lake and the smaller delta of the Rushikulya River.
[edit]Middle Mountainous and Highlands Region
The region covers about three-fourth of the entire State. Geologically it is a part of the Indian Peninsula which as a part of the ancient landmass of the Gondwanaland. The major rivers of Odisha with their tributaries have cut deep and narrow valleys. This region mostly comprises the hills and mountains of the Eastern Ghats which rise abruptly and steeply in the east and slope gently to a dissected plateau in the west running from north-west (Mayurbhanj) to south-west (Malkangirig). This region is well marked by a number of interfluves or watersheds. The Eastern Ghats is interrupted by a number of broad and narrow river valleys and flood plains. The average beight of this region is about 900 metres above the mean seal level. The highest peak is Deomali
[edit]Central Plateaus
The plateaus are mostly eroded plateaus forming the western slopes of the Eastern Ghats with elevation varying from 305–610 metres. There are two broad plateaus in Odisha : (i) the Panposh – Keonjhar -Pallahara plateau comprises the Upper Baitarani catchment basin, and (ii) the Nabrangpur – Jeypore plateau comprises the Sabari basin.
[edit]Western Rolling Uplands
These are lower in elevation than the plateaus having heights varying from 153 metres to 305 metres.[25]
[edit]Rivers
There are four groups of rivers which flow through Odisha into the Bay of Bengal (Table-2). They are :
(i) Rivers that have a source outside the State (the Subarnarekha, the Brahmani the IB and theMahanadi).
(ii) Rivers having a source inside the State (the Budhabalanga, the Baitarani, the Salandi, and theRushikulya).
(iii) Rivers having a source inside the Odisha, but flow through other states (the Bahudu, theVansadhara, and the Nagavali).
(iv) Rivers having a source inside Odisha, but tributary to rivers which flow through other states (theMachkund, the Sileru, the Kolab, and the Indravati).
- River Mahanadi: It is the major river of Odisha and the sixth largest river in India. It originates from the Amarkantak hills of the Bastar Plateau in Raipur district of [Chhattishgarh]. It is about 857 km Long (494 km in Odisha) and its catchment area spreads over 141,600 km2. (65,580 km².) in Odisha. The river carries on an average about 92,600 million m of water.
- River Kathajodi: Around Naraj Bridge which is approx. 10 K.M. from Cuttack City there are following villages:- Naraja Marthapur (Local Railway Station), Godi Sahi, Sandhapur, Bidyadharapur, Nua Sahi & Ratagarh. All these villages are rich in ancient heritage. Ratagarh, there is an ancient Shiva Temple of Chola Dynasty. It is 15 K.M. (approx.) distance from the City of Bhubaneswar & 6 K.M. (approx.) from Nandan Kanan, the Zoological Park. A canal arises from the Main Mahanadi River at Naraj Bridge is running besides which is the main source of water system.In Ratagarh there are 3-4 small hills which connects to the Chandaka-Damapada elephant reservoir. The main cultivation of the people of these villages are paddy besides vegetales also. The railway line running between the above villages connects Bhubaneswar with Talcher, the thermal power station, Sambalpur, Athagarh and then run into the states of Madhya Pradesh.
- The Brahmani: It is the second largest river in Odisha. It originates as two major rivers like the Sankh and the Koel from the Chota Nagpur Plateau of Bihar and both join at Veda Vyasa near Rourkela of Sundargarh district of Odisha forming the major River Brahmani. It flows through the Eastern Ghats in Sundargarh, Deogarh, Kendujhar, Dhenkanal, Cuttack and Jajpur districts into the Coastal Plains and enters into the Bay of Bengal along with a combined mouth with the Mahanadi known as the Dhamara. The Brahmani is 799 km long (541 km In Odisha) and its catchment area spreads over 39,033 km2. in Odisha).
- The Baitarani: It originates from the Gonasika hills of the Kendujhar district. It is 365 km long and its catchment area spread over 12,790 km2. It entres into the Bay of Bengal after joining of the Brahmani at Dhamara mouth near Chandbali, Baleshwar.
- The Subarnarekha: It originates from the Chhotanagpur plateau of Bihar. It is 433 km (70 km in Odisha) and has a catchment area of 19,500 km (3,200 km in Odisha) with a mean annual flow of 7,900 million.
- The Budhabalanga: It originates from the easterns slops of the Similipal massif. It is about 175 km long having a total catchment area of 4840 km2 with an annual flow of 2177 million. It is major tributaries are the Sone, the Gangadhar, the Catra etc.
- The Rushikulya: It originates from the Rushyamala hills of the Eastern Ghats in Phulbani district. It is 165 km long with 8900 km2 of catchment areas. Its tributaries are the Baghua the Dhanei Badanadi etc. It has no delta at its mouth.
- The Bahuda: It originates from the Ramgiri hills of the Eastern Ghats in Gajapati districts and joins the Bay of Bengal in Andhra Pradesh. Its length 73 km having a catchment area of 1250 km2.
- The Bansadhara: It originates from the Flanks of the Durgakangar hills (Lingaraj hills) of the Eastern Ghats in Kalahandi districts. It is 230 km long out of which only 150 km in Odisha. It entres in to the Bay of Bengal at Kalingapatnam in Andhra Pradesh. It has a catchment area of 11500 km2.
- The Nagabali: It originates from the Bijipur Hills of the Eastern Ghats near Lanji Garah. It is 210 km long out of which 100 km is in Odisha. It has a total catchment area of about 9410 km2.
- The Salandi: It originates from the Meghasani Hills of the Similipal Massif in Keonjhar district. It is 144 km long with a catchment areas of 1793 km2.
- The Indravati: It originates from the Eastern Ghats in Kalahandi districts. It is 530 km long with a catchment area of 41700 km2 as a tributary it flows into the Godabari river.
- The Kolab: It originates from the Sinkaran hills of the Eastern Ghats in Koraput districts. It has catchment areas of 20400 km2.
- Tel River: It is one of the largest river of Odisha originating in Nabaramgpur district and touching Chhattisgarh, Kalahandi, Balangir, Sonepur districts of Odisha and finally falling in Mahanadi.
[edit]Springs
There are a number of Mountain springs and hotspring in Odisha. The Badaghagara and Sanaghagara in Keonjhar districts Satpasajya in Denkanal districts the Chandikhole in Cuttack distrcts the Barunei in Khorda districts, the Narayani and Nirmalajhar in Ganjam district, the Patalaganga in Kalahandi districts, the Nursinghanath in Bargarh distrcts and the Harisankar in Bolangir distrcts.
[edit]Waterfalls
Most of the rivers, either at the point of origin or over the mountainous bed, have waterfalls. The Barehipani and Joranda (Similipal) in Mayurbhanja districts, Sanaghagara and Badaghagara in Keonjhar district, Pradhanpat in Deogarh district, khandadhar (Banei) in Sundargarh district, Koilighugar in Jharsuguda district, Phurlijharan, Khandabaladhar, and Rabandhara in Kalahandi district, Kentamari and Putudi in Boudh and Phulbani district Duduma in Malkangiri district and Bogra in Koraput district are some of the major waterfalls of Odisha.
[edit]Lakes
- The Chilika Lake is brackish water lagoon located in the southern part of the Odisha coastal plane. It areas varies 780 km2 and 144 km2; during the two monsson months it is 71 km long and 32 km wide. It salinity decleans to a minimum during the monsson. However in winter, due to the overflow of the tidal water through the narrow opening from the Bay of Bengal, it is maximum.
- Anshupa is a sweet water lake located in Athagarh of Cuttack district. It is 3 km long and 1.5 km wide. Sara is another sweet water lake located near Puri. It is 5 km long and 3 km wide. Kanjia is another sweet water lake with about 134 acres (0.54 km2) of area located in Nandankanan of Cuttack district near Bhubaneswar.[26]
- Pata is another sweet water lake located alongside the town of Chatrapur. It is 4 km long and 0.5 km wide.
- Hirakud Dam: Artificial Lake in Sambalpur and Jharsuguda largest in Asia.
- Indravati Dam: Artificial Lake in Kalahandi and Nabarangpur
- Kolab Dam: Artificial Lake in Koraput
[edit]Economy
[edit]Macro-economic trend
This is a chart of trend of gross state domestic product of Odisha at market prices estimated by Ministry of Statistics and Programme Implementation with figures in millions of Indian Rupees.
Year Gross State Domestic Product 1985 37,080 1987 68,230 1990 109,040 1995 271,180 2000 387,280 2005 670,900[27] The state's debt is estimated at almost 59 per cent of its GDP in 2005.[28]
[edit]Industrial growth
Odisha has abundant natural resources and a large coastline. It contains a fifth of India's coal, a quarter of its iron ore, a third of its bauxitereserves and most of the chromite. Rourkela Steel Plant[29] was the first integrated steel plant in the Public Sector in India. It receives unprecedented investments in steel, aluminium, power, refineries and ports. India's topmost IT consulting firms, including Mahindra Satyam,TCS (Tata Consultancy Services), MindTree Consulting, PricewaterhouseCoopers and Infosys have large branches in Odisha. IBM, Synteland Wipro are setting up development centers in Odisha. So far, two of the S&P CNX 500 conglomerates have corporate offices in Odisha, for example, National Aluminium (2005 gross income
.51,162 million) and Tata Sponge Iron (2005 gross income .2,044 million).Odisha is notable as one of the first Indian states to have tackled its structural problems during the post-1994 Indian economic reforms. Odisha was also the first state in India to begin to privatise its electricity transmission and distribution businesses. Over the period between 1994 and 2000 Odisha's former state electricity board (SEB) was restructured to form Gridco. This corporation was then divided into Transco and a collection of distribution companies. Attempts were then made to sell the distribution companies to the private sector. Like many other states, in 1996 Odisha was losing over 50% of the electricity it was delivered. The scale and importance of these reforms is notable and an important milestone in India's dramatic economic development.
Recently the number of companies who have signed Memoranda of Understanding (MoUs) to set up steel plants in the state has gone up to 50, including POSCO of South Korea which has agreed to construct a mammoth $12 billion steel plant near Paradip port. It would be the largest single investment in India's history. Arcelor-Mittal has also announced plans to invest in another mega steel project amounting to $10 billion. Russian major Magnitogorsk Iron and Steel Company (MMK) plans to set up a 10 MT steel plant in Odisha too. The state is attracting an unprecedented amount of investment in aluminum, coal-based power plants, petrochemicals, and information technology as well. In power generation, Reliance Power (Anil Ambani Group) is putting up the world's largest[citation needed] power plant with an investment of US $13 billion at Hirma in Jharsuguda district.Vedanta Resources' 1.4 million tonne alumina project in Kalahandi district is the largest investment in aluminium. Vedanta has also announced a $3.2 billion dollar huge private University project on the lines of the Ivy League Universities, which is unprecedented in the history of education in India.Bandhabahal is a major area which consist of Open Cast Coal Mines.
The Central Government has agreed to accord SEZ (Special Economic Zone) status to eight sites in Odisha, among which are Infocity at Bhubaneshwar and Paradip. But all these plans are facing massive resistance from the people of the state who mainly depend on agriculture for livelihood. Some vested interests are pushing ahead projects of Mittal, Tata, Vedanta, Birlas causing many human rights violations.
In the year 2009 Odisha was second top Domestic Investment destination with Gujarat first and Andhra Pradesh in third place according to an analysis of ASSOCHAM Investment Meter (AIM) Study on Corporate Investments. Odisha's share was 12.6 percent in total investment in the country. It received investment proposal worth
. 2,00,846 crore during the last year. Steel and power were among the sectors which attracted maximum investments in the state.[30]Flood and cyclone are the major hurdles in Odisha's development as the important districts are situated near to the Bay of Bengal. In the five-year period between 2004–05 and 2008–09, Odisha's GDP has grown by a stunning 8.74% way beyond the definition of 7% growth. It should be noted that the all-India growth during this period was 8.49%.In this period, Odisha is the fourth fastest growing state, just behind Gujarat, Bihar, Uttarakhand.
[edit]Infrastructure development
Although Paradip is home to Odisha's only large port, the coastal towns of Dhamra and Gopalpur are also undergoing major port development. The government of India has selected the coastal region of Odisha, stretching from Paradip in the north to Gopalpur in the south, to be developed into one of five or six Special Economic Regions (SERs) of the country. The government of India and the state government of Odisha are working together to erect world-class infrastructure in this region to match that of Rotterdam, Houston, andPudong. This is aimed at further private investment in petrochemicals, steel, and manufacturing. A recent Morgan Stanley report forecasts that Odisha would be flooded with massive investments for manufacturing related activities in the same manner that Bangalore had attracted software investment in the 1990s. The scale of the investments in Odisha would, however, be much higher. As of July 2006, total planned investment in the state is $90 billion. This includes investment in research, education, hospitals, roads, ports, airports, and hotels. There are many multi-state irrigation projects in development, including the Godavari River Basin Irrigation Projects. 14 locations have been identified on Odisha coast to be developed as port. These locations are Gopalpur (Ganjam district), Bahuda Muhan (Sonepur) in Ganjam district, Palur (Ganjam), Bali Harchandi (Puri), Astaranga (Puri), Jatadhari Muhan (Jagatsinghpur), Barunei Muhan (Kendrapara), Dhamra (Bhadrak), Chudamani (Bhadrak), Inchuri (Balasore), Chandipur (Balasore), Bahabalpur (Balasore), Subarnarekha mouth (Kirtania) in Balasore district and Talsara (Balasore). Most of the locations among them already been developing as port in the public private partnership (PPP).[31][32][33]
[edit]Media
Odisha has a strong media field, one of the best known among other states. The print newspapers like Samaja, Dharitri, Sambad, Samaya, Anupam Bharat, Prajatantra updates daily the Odisha people with the news. Other major dalies are Sambad Kalika, Amari Katha, Pragatibadi, Dinalipi, Odisha Bhaskar, Khabara etc. Some prominent weekly and fortnighty news papers like Loka Samachar, Sarkar, Bartta, Saburi Katha, Neta etc. are providing space for people's aspirations and awareness in the state. Odisha has a strong team of journalists and media group.
[edit]Newspapers and Journalism
Odisha Berhampur University was first to start Journalism teaching programme in 1974. Chintamoni Mahapatra, a journalist turned journalism teacher was the person who ushered journalism education in Odisha. Besides Berhampur University, till mid-1980s there were not many institutions that provided journalism teaching in Odisha. Things began to change from late 1980s.
Indian Institute of Mass Communication (IIMC) opened a campus in Dhenkanal in August 1993 and offered Post Graduate Diploma in English Journalism with 40 seats. IIMC began to attract, train and provide a steady stream of young professionals to the local papers that were on par with the best in the country.
Presently there are more than 20 institutes in Odisha both government and private offering various courses in journalism and mass communication. Among them Sambad School Of Media and Culture is one. This school is backed by Sambad media house. Nearly 300 students pass out from such institutes every year in the State.
The field of Odia journalism does not encompass to the level achieved by its neighbours. This is because of the reading behavior of the Odia people and the lack of experiment in journalistic writing. Apart from this lacunae, there is another problem which posed itself as the wall against the development of Odia journalism. i.e. those who pursue journalism, lack interest in the subject, usually deserting their opted profession. Majority of them prefer to work in PR, HR sector. So, the day long practice of news presentation style remained unchanged. Still now the stereotype concept is followed by many journalist. In print media the style of samaj and prjatantra remained unchanged. In electronic media, the news presentation style is more or less borrowed from doordarsan and trained at Etv. In print media (esp. regional language) very few journalists challenged the old style and experimented some thing new. The lack of readership surveys and proper analysis the new styles borrowed form English and Hindi media and successfully implemented here. But, among the new generation writers and journalists who dared to change the old, Lambodar Prasad Dash is one. His news stories on naxlaite activities and crime scene are excellent. Simple to understand and can draw enthusiasm even in a first time reader. He is an alumnus of Berhampur University journalism department. In his 13 years career as many as 200 articles published in different news papers, magazines. Presently he is serving as Bureau Chief of Aromv, a daily Odiya news papers owned by Chandra Mishra, another noted journalist from Odisha. Journalist Lambodar got several opportunities to reform his writing style when he was working under some of the noted journalists like, Gopal krushna Mahapatro, Sarat Mishra, Ranjit Guru, Gaourahari Das, Prasant Pattanaik, Nabin Das, etc.
[edit]Transportation
Odisha is connected to India through roads, railways, airports, and seaports. Bhubaneshwar is well connected by air, rail and road with the rest of India. The Biju Patnaik airport is being expanded to accommodate wide bodied aircraft. Few highways are getting four lanned.[34]
[edit]Regular airports
- Biju Patnaik Airport
- Jharsuguda Airport under proposal by AAI
- Berhampur Airport (Rangeilunda)
[edit]Air strips
Barbil, Keonjhar by State Govt.
Baripada (Rajabasa), Mayurbhanj by Ex-Maharaja
Birsal, Dhenkanal by State Govt.
Hirakud (Jamadarpalli), Sambalpur by State Govt.
Jeypore, Koraput by State Govt.
Jharsuguda, Jharsuguda by AAI
Raisuan, Keonjhar by State Govt.
Nuapada (Gotma), Nuapada by State Govt.
Padampur (Sativata), Bargarh by State Govt.
Phulbani (Gudari), Kandhamal by State Govt.
Rairangpur (Dandbose), Mayurbhanj by State Govt.
Rangeilunda (Gopalpur), Ganjam by State Govt.
Rourkela, Sundergarh by SAIL
Therubali, Rayagada by IMFA
Tusura, Bolangir by State Govt.
Utkela, Kalahandi by State Govt.
Amarda Road, Mayurbhanj by Defence
[edit]Seaports
- Port of Paradip
- Port of Dhamara[4]
- Port of Gopalpur (Commenced Operation From January 2007 As Seasonal Port)
Dists of Odisha
1:Balasore 2:Bhadrakh 3:Anugul 4:Baragarh 5:Bauda 6:Cuttack 7:Deogarh 8:Dhenkanal 9:Gajapati 10:Ganjam 11:Jagatsinghapur 12:Jajapur 13:Jharsuguda 14:Kalahandi 15:Kandhamal 16:Kendrapara 17:Kendujhar 18:Khordha 19:koraput 20:Malkangiri 21:Mayurbhanj 22:Nabarangpur 23:Nayagarh 24:Nuapara 25:Puri 26:Rayagada 27:Sonepur 28:Sundergarh 29:Balangir 30:Sambalpur
[edit]Demographics
Religion in Odisha Religion Percent Hinduism 94.6% Christianity 2.4% Islam 2.1% Others 0.9% According to the 2001 census of India, the total population of Odisha is 36,706,920, of which 18,612,340 (50.89%) are male and 18,094,580 (49.11%) are female, or 972 females per 1000 males. This represents a 16.25% increase over the population in 1991. The population density is 236 per km² and 85.01% of the people live in rural areas and 14.99% live in urban areas. LANGUAGE Odia (Oriya) is the official language of Odisha and spoken as a native language by about 73% of the people. Other linguistic minorities in the state are Bengali, Hindi, Telugu, Santali. The literacy rate is 63.61% with 75.95% of males and 50.97% of females being literate. The proportion of people living below the poverty line in 1999–2000 was 47.15% which is nearly double the all India average of 26.10%. Scheduled Castes and Tribes form 16.53% and 22.13% of the state population, constituting 38.66% of the State population. Some of the important tribes are Santhal, Bonda, Munda, Oraon, Kora andMahali.
Data of 1996–2001 showed the life expectancy in the state was 61.64 years, higher than the national value of years. The state has a birth rate of 23.2%, a death rate of 9.1%, an infant mortality rate of 65 per 1000 live birth and a maternal mortality rate of 358 per 1,000,000 live births. Odisha has a HDI of 0.579 in 2004.
The dominant ethnic group are the Odia people. Many other groups are defined as Scheduled Tribes. Odias comprise 73% of Odisha's population while various tribal groups comprise most of the rest.[35]
[edit]Literature
Main article: Odia literatureThe history of Odia Literature has been mapped by historians and linguists along the following stages, Old Odia (900–1300 AD), Early Middle Odia (1300–1500 AD), Middle Odia (1500–1700 AD), Late Middle Odia (1700 AD – 1850 AD) and Modern Odia (from 1850 AD till the present). But this rude categorization could not skillfully draw the real picture on account of development and growth of Odia Literature. Here, we split the total periods in different stages such as: Age of Charya Literature, Age of Sarala Das, Age of Panchasakha, Age of Upendra Bhanja, Age of Radhanath, Age of Satyabadi, Age of Marxism or Pragati yuga, Age of Romanticism or Sabuja Yuga, Post Independent Age.
The beginnings of Odia poetry coincide with the development of Charya Sahitya, the literature thus started by Mahayana Buddhist poets.[36]This literature was written in a specific metaphor named "Sandhya Bhasha" and the poets like Luipa, Kanhupa are from the territory of Odisha. The language of Charya was considered as Prakrita.
The first great poet of Odisha is the famous Sarala-Das who wrote the Mahabharata, not an exact translation from the Sanskrit original, rather an imitation of the same. Among many of his poems and epics, he is best remembered for his Mahabharata. Chandi Purana and the Vilanka Ramayana are also two of his famous creations. Arjuna Das, a contemporary to Sarala Dasa, wrote Rama-Bibha, a significant long poem in Odia.
Towards the 16th century, five poets emerged, though there are hundreds year gap in between them. But they are known as Panchashakhas as they believed to same school of thought, Utkaliya Vaishnavism. The poets are: Balaram Das, Jagannath Das, Achyutananada Das, Ananta Das and Jasobanta Das. The Panchasakhas are very much Vaishnavas by thought. In 1509 Chaitanya Mahaprabhu came to Odisha with his Vaishnava message of love. Before him Jaydev had prepared the ground by heralding the cult of Vaishnavism through his Geetagovinda. Chaitanya's path of devotion was known as Raganuga Bhakti Marga, but the Panchasakhas differed from Chaitanyas and believed in Gyana Mishra Bhakti Marga, which has similarities with the Buddhist philosophy of Charya Literature stated above.
The Panchashakhas, however, are the direct disciples of Chaitanya Mahaprabhu. Along with another seer Shri Arakhsita Das, they are called also as sada-goswami (six Lords). These five saints primarily believed in Vaishnavism and also additionally cultured and developed Gyana Mishra Bhakti Marga as stated earlier (beliefs about the body, the mind, the soul, and the Parambrahm). They have composed numerous manuscripts, mâlikas, devotional poems, Sadhana descriptions, and other religious scriptures. Also, many prophecies are described by these seers in there numerous literature. Most of the literature were written in hand on palm-leaves using the Devanagari or the Odia script.
The two prime works from the five writers are the Bhâgavata by Jagannath Das and the Jagamohana Râmâyana by Balarâm Das. Till today Jagannath Das's Bhâgavata is the most valued book in Odia literature. Besides this great work he (Jagannath Das) also composed Artha Koili, Darubrahma Geetâ, Shunya Bhâgabata, Dhruba Stuti etc. Balaram Das, apart from Jagamohana Râmâyana, has also composed various works such as the Lakshmi Purâna, Vendântasâra Guptagitâ, Nâma-mâhatmya, Bhâva samudra, Sisu Veda, Kamalalochana Chautisâ, Kânta Koili. Shri Ananta Das, also known as Shishu Ananta Das has composed various devotional literature, e.g., Chumbaka malikâ, Nilagiri charita, Hetu Udaya Bhâgabata, Artha Târeni Prasnottara, Anâkâra Samhitâ, Bhaktimuktipradâyaka Geetâ. Similarly, Shri Jasovanta Das composed Shiba Shirodaya, Premabhaktibrahma Geetâ, Âtmaparatey Geetâ, Gobindachandra.
Acyutananda was the most prolific writer of the Panchasakhas and has written numerous books (called as pothi's), believed not in one life but in many successive lives. He is known as the Mahapurusha, which means - a great man. A few works of him are: Shunya Samhita, Chaurashi Yantra, Gurubhakti Geeta, Khila Haribamsa, Gupta Bhagabata, Kaivarta Geeta, Kaala Nirghanta, Tera Janma Sharana, Brahma Ekahshara Geeta, Gopala Ogâla, Bhava Samudra, Garuda Geeta, Brahma Shankuli, Ananta Bata Geeta, Kali Kalkpa Geeta, Asta Gujjari, Gujjari Raasa, Brahma Kundali, Mahagupta Padmakalpa, Chausathi Patala, Chayalisha Patala, Chabisa Patala, Dasa Patala, Neetya Raasa, Manmatha Chandrika, Shiva Kalpa, Achyutananda Janma Sharana, Chitta Bodha, Raasa Maala, and Panchasakhaa Bhajana. The Shunya Samhita dealt with spiritual knowledge as well as physical sciences like solar science, atomic and molecular concepts, and aerospace concepts. The term Chauraashi Yantra describes '84 yantras' embedded within the human body, the later itself is ~84 fingers in length and each Yantra is located for each finger-length space. However, the most popular one seems to be an "Oracle of Prophecies" named as Bhavishya Malika. Among prophecies also are Aagata bhabishya lekhanaa and Bhavishya Paraardha. About the Identification of his disciple and the primary devotees, he had composed the Jaiphula Malika. Also his copper oracle (Tamrapothi) which appears to mysteriously read the mind and provide suitable answers is still available today, operated by a priest in Kakatpur. Shri Arakhsita Das, the seer of Olasuni, had written the Mahimandala Geeta, the Bhakti Tikaa, the Saptaanga Abadhuta Samhita, and the Tatvasara Geeta.
At the end of age of Panchasakha, the prominent poets are Dinakrushna Das, Upendra Bhanja and Abhimanyu Samanta Simhar. Verbal jugglery, obscenity and eroticism as the characteristics of Shringara Kavyas, became the trend of this period to which Upendra Bhanja took a leading role. His creations were Baidehisha Bilasa, Koti Brahmanda Sundari, Lavanyabati were proved land mark in Odia Literature. Upendra Bhanja was conferred with the title Kabi Samrat of Odia literature for the aesthetic poetic sense and verbal jugglery proficiency. Dinakrushna Das's Rasokallola and Abhimanyu Samanta Simhara's Bidagdha Chintamani are prominent kavyas of this time.
The first Odia printing typeset was cast in 1836 by the Christian missionaries which made a great revolution in Odia literature. Instead of palm leaf inscription, the books were being printed and the periodicals and journals were published. The first Odia Magazine of 'Bodha Dayini' was published from Balasore in 1861. The main object of this magazine was to promote Odia literature and to draw attention to the lapses in government policy. The first Odia paper, 'The Utkal Deepika' made its appearance in 1866 under the editorship of late Gouri Sankar Ray with the help of late Bichitrananda. The publication of these papers during the last part of the 19th century encouraged the modern literature and acted as a media to provide a wide readers range for the writers, The educated intellectuals came in contact with the English literature and got influenced. Radhanath Ray (1849–1908) is the prime figure, who tried to write his poems with the influence of Western literature. He wrote Chandrabhaga, Nandikeshwari, Usha, Mahajatra, Darbar and Chilika wee the long poems or Kavyas. Fakir Mohan Senapati (1843–1918), the prime figure of modern Odia Fiction Prose is the product of that generation. He was considered the Vyasakabi or founder poet of Odia language. Fakir Mohan Senapati is well known for his novel Chha Maana Atha Guntha. It is the first Indian novel to deal with the exploitations of landless peasants by the feudal Lord. It was written much before the October revolution of Russia or much before the emerging of Marxistideas in India.
With rise of freedom movement, a literary though was emerged with the influence of Gandhiji and idealistic trend of Nationalism formed as a new trend in Odia Literature. Much respected personality of Odisha culture and history, Utkalmani Gopabandhu Dash (1877–1928) has founded a school at avillage Satyabadi near Sakshigopal of Odisha and an idealstic literary movement influenced the writers of this age. Godabarisha Mohapatra, Kuntala-Kumari Sabat the other renowned name of this age.
With the emergence of Soviet Russia in 1935, a Communist party was formed in Odisha and a periodical named "Adhunika" was published by the party. Bhagawati Charan Panigrahi and Sachidananda Routray were the founder members and writer/poets of the party. Bhagwati turned to fiction writing and though Sachidananda Routray (who is better known as "Sachi Routra" or Sachi Babu) has written some short stories is actually remembered for his poems. Influenced by the romantic thoughts of Rabindranath Tagore, during the thirties when the progressive Marxist movements was in full flow in Odia Literature, Kalindi Charan Panigrahi, the brother of Bhagabati Charan Panigrahi, the founder of Marxist trend in Odisha, formed a group circa 1920 called "Sabuja Samiti." Mayadhar Mansingh was a renowned poet of that time though he was considered as a romantic poet, but he kept the distance away from the influence of Rabindranath successfully.
As the successor of Sachi Babu, two poets Guruprasad Mohanty (popularly known as Guru Prasad) (1924–2004) and Bhanuji Rao came with T.S. Eliot and published their co-authored poetry book "Nutan Kabita". Later, Ramakanta Rath modified the ideas. Sitakanta Mohapatra, Soubhagya Kumar Mishra, Rajendra Kihore Panda, Brajanath Rath, Jayanta Mahapatra, Kamalakant Lenka, J.P. Das, Brahmotri Mohanty, Mamata Dash, Amaresh Patnaik, Hrushikesh Mallick, Sunil Kumar Prusty, Sucheta Mishra, Aparna Mohanty, Pritidhara Samal, Basudev Sunani, Gajanan Mishra, Bharat Majhi are some poets of this contemporary age. In the Post-Independence Era Odia fiction assumed a new direction. The trend which Fakir Mohan has started actually developed more after 50's of last century. Gopinath Mohanty (1914–1991),Surendra Mohanty and Manoj Das are considered as three jewels of this time. The other significant fiction writers are Chandrasekhar Rath, Dr Jagannath Prasad Das, Shantanu Acharya, Mohapatra Nilamani Sahoo, Rabi Patnaik, Debraj Lenka, Tarun Kanti Mishra, Krushna Prasad Mishra, Akhil Mohan Patnaik, Jagadish Mohanty, Kanheilal Das.
Satya Mishra, Ramchandra Behera, Padmaja Pal, Binapani Mohanty, Prativa Ray, Yashodhara mishra and Sarojini Sahoo are a few writers whose writings have created a new age in the field of fiction. Jayanti Ratha, Susmita Bagchi. Paramita Satpathy, Hiranmayee Mishra, Chirashree IndraSingh Supriya Panda, Gayatri Saraf, Mamata Chowdhry are few fiction writerw in this period. In the field of drama, the traditional Odia theatre is the folk opera, or Jatra, which flourishes in the rural areas of Odisha. Modern theatre is no longer commercially viable. But in the 1960, experimental theatre made a mark through the works of Manoranjan Das, who pioneered the new theatre movement with his brand of experimentalism. Bijay Mishra, Biswajit Das, Kartik Rath, Ramesh Chandra Panigrahi, Ratnakar Chaini, Ranjit Patnaik continued the tradition. As a whole, Odia literature is a strong wing of Indian Literature to represent in world forum.
Literary magazine: Jhankar, Nabarabi, Apurba, Galpa, Kahani, Kadambini, Istahara, Udbhasa, Amrutayana, Nabalipi, Pratibeshi, Paschima, Bijaya, Bartika, Chitra, Bishwamukti, Ama Samaya, Sananda, Godhuli Lagna, Bigyan Diganta (Science), and pourusha.
Further information: Odia language, Sambalpuri Language, Indian literature, and List of Oriya writers[edit]Culture
Main article: Odia cultureThe language spoken by the majority of the people is Odia. English is widely used for official purpose and Odia is used as regional language. Odia belongs to the Indo-Aryan branch of the Indo-European language family, and is closely related to Bengali and Assamese. A few tribal languages belonging to the Dravidian and Munda language families are spoken by the Adivasis (original inhabitants) of the state. The state has a very opulent cultural heritage, one of the richest in India. The capital city of Bhubaneshwar is known for the exquisite temples that dot its landscape. The famous classical dance form, Odissi originated in Odisha. Contemporary Odisha has a proud cultural heritage that arose due to the intermingling of three great religious traditions – Hinduism, Buddhism and Jainism. The culture of the Adivasis is an integral part of modern Odia heritage.
[edit]Dance
Odissi or Orissi dance and music is classified as a classical music of India. Odissi is the oldest surviving dance form in India on the basis of archaeological evidence.[37][38] Odissi has a long, unbroken tradition of 2,000 years,[citation needed] and finds mention in the Natyashastra ofBharatamuni, possibly written circa 200 BC. However, the dance form nearly went extinct during the British period, only to be revived after India's independence by a few Gurus, such as Guru Deba Prasad Das, Guru Mayadhar Raut, Guru Pankaj Charan Das, Guru Mahadev Rout, Guru Raghu Dutta, and Guru Kelu Charan Mahapatra. Odissi classical dance is about the love of Krishna and his supposed consort Radha, mostly drawn from compositions by the notable Odia poet Jayadeva, who lived in the twelfth century AD.
Ghumura Dance (or Ghumra Dance) is one of the most sought and leading folk dance form in Odisha. It is classified as folk dance as the dress code of Ghumura resembles more like a tribal dance, but recent researchers argue different mudra and dance form present in Ghumura bear more resemblance with other classical dance form of India.[39] The timeline of Ghumura dance is not clear. Many researchers claim it was a War dance in ancient Indiaand used by Ravana in Ramayana. Ghumura dance is depicted in Konark Sun Templeconfirming this dance form is since the medieval period. In the Madhya Parba of Sarala Mhabharata Ghumura has been mentioned as: "Dhola Madala Gadi je Ghumura Bajai Ghumura je Ghumu Ghumu Hoi Garajai" In Chandi Purana mentions: "Biratwara Biradhola Daundi Ghumura Kadamardala Bajanti Mari Galatura" Ghumura was also used as a Darbari dance in the princely state of Kalahandi and played by the earstwhile Kalahandi state during war times.[39] The typical mixed sound that comes out of the musical instruments like Ghumura, Nishan, Dhol, Taal, Madal etc. and the expressions and movements of the artists make this dance to be a Heroic Dance.[40] Since thousands of years Ghumura dance has evolved from a war dance to a dance form for cultural and social activities. The dance is associated with social entertainment, relaxation, love, devotion and friendly brotherhood among all class, creed and religion in the present days. Traditionally this dance is also associated with Nuakhai and Dasahara celebration in Kalahandi and large parts of South Western Odisha. Ghumura dance is still hidden in the village level in South Western Odisha and some parts of bordering Andhra Pradesh and Chhattisgarh. Kalahandi region has taken a leading rule in popularizing and retaining its unique identity of Ghumura dance. Kalahandi is mainly known as land of Ghumura.[40] Ghumura dance has got the opportunity to represent the nation in various international events Delhi, Moscow, Kolkata, and various other cities in India. Ghumura dance is also one of the most researched folk dance form in Odisha.
Kau dance (or Chau dance) is a form of tribal martial dance attributed to origins in Mayurbhanj princly state of Odisha and seen in the Indianstates of West Bengal, Jharkhand and Odisha. There are three subtypes of the dance, based on the original places where the subtypes were developed. Seraikella Chau was developed in Seraikella, the administrative head of the Seraikela Kharsawan district of Jharkhand, Purulia Chau in Purulia district of West Bengal and Mayurbhanj Chau in Mayurbhanj district of Odisha.
Mahari Dance is one of the important dance forms of Odisha and originated in the temples of Odisha. History of Odisha provides evidence of the 'Devadasi' cult in Odisha. Devadasis were dancing girls who were dedicated to the temples of Odisha. The Devadasis in Odisha were known as 'Maharis' and the dance performed by them came to be known as Mahari Dance.
It was during the reign of Chodagangadeva, Maharis were employed in the temples of Puri. After Chodagangadeva's death, Ananabhimadeva built Natyamandapa in the Jagannath temple for the dance performances inside the temple. Moreover, in those days, the Mahari dancers belonged to different categories namely, the 'Nachunis' (dancers), the Bahara Gauni, the Bhitara Gauni and the Gaudasanis.
The Mahari Dancers of Odisha are supposed to follow certain restrictions, such as:
- They cannot enjoy.
- They should dance on the ceremonies connected to Jagannath.
- They should adhere to the specifications made by the Sastras.
- They must always wear clean cloths.
- The dancer cannot be physically handicapped.
- At the time of the performances, the dancers are not supposed to look at the audience.
- The Maharis are married to the Lord at the age of nine.
- Before their performances, the Mahari dancers pay their obeisance to the Lord.
In Odisha, one can also come across another type of Mahari dancers, who are known as 'Samarpada Niyoga'. The duty of the 'Samarpada Niyoga' is to dance during the ceremonial procession of the deities. These dancers perform during the Ratha Yatra, Jhulana Yatra, Dola Yatra, etc.
The Western Odisha has also great variety of dance forms unique to Odisha culture. The children's verses are known as "Chhiollai", "Humobauli" and "Dauligit", the adolescent poems are "Sajani", "Chhata", "Daika", "Bhekani" : the eternal youth composes "Rasarkeli", "Jaiphul", "Maila Jada", "Bayamana", "Gunchikuta" and "Dalkhai". The work-man's poetry comprises "Karma" and "Jhumer" pertaining to Vishwakarma and the "Karamashani" deities. The professional entertainers perform Dand, Danggada, Mudgada, Ghumra, Sadhana, Sabar – Sabaren, Disdigo, Nachina – Bajnia, Samparda and Sanchar. They are for all occasions, for all time with varieties of rhythm and rhyme.
Pala is a unique form of balladry in Odisha, which artistically combines elements of theatre, classical Odissi music, highly refined Odia and Sanskrit poetry, wit, and humour. The literal meaning of pala is turn. It is more sophisticated than the other Odia ballad tradition, Daskathia. Pala is presented in three ways. The names can be mentioned as baithaki or `seated`, in which the performers sit on the ground throughout. The other one is thia or `standing`. This is more popular and aesthetically more satisfying, in which they stand. Badi is a kind of thia in which two groups vie for excellence. This is the most entertaining, as there is an element of competition.
Gotipua dance is another form of dance in Odisha. In Odia colloquial language Gotipua means single boy. The dance performance done by a single boy is known as Gotipua dance. When decadence and declination came in to Devadasi or mahari tradition due to various reasons this Gotipua dance tradition evolved as sequel as these performance were practiced to please the gods. It is totally unknown that when exactly this danced form came in to practice. Still some historians say that this dance tradition appears to have originated during the region of Prataprudradev (1497 AD to 1540 AD) and gained popularity in the subsequent Muslim Rule. Ray Remananda the famous Vaishnavite Minister of King Pratapruda and ardent follower of Sri Chitanya is the originator of this boy dancing tradition. As Vasishnavs were not approving of the females in to dance practices so it possible that the dance tradition must have come after Sri Chaitanya came to Odisha. The Gotipua Dance Tradition is now seen in the village Raghurajpur situated 10 km away from Puri town, situated on the banks of river Bhargabi. It is otherwise known as the Crafts Village as various Odia handicrafts' craftsmen reside in this village contributing their expertise in Patta Painting and other handukrafts.
Prince Dance Group, a dance group based in Berhampur, Odisha, India led by Krishna Mohan Reddy. It has won a reality show India's Got Talent on an Indian TV channel "Colors". The group is unique that the members are from a remote part of India and most of them are from disadvantaged sections of different parts of Ganjam district. Two of them, Padmanabha Sahu (24) and Telu Tarini (13) are physically challenged. They have won the hearts of all Odias, including chief minister Naveen Patnaik, and even outsiders with their performance in the programme "India's Got Talent". The group, comprising 26 artistes held the audience and the judges engrossed with their act from the mythological Mahabharata and Vande Mataram.
[edit]Music
Sixteenth century witnessed the compilation of literature on music. The four important treatises written during that time are Sangitamava Chandrika, Natya Manorama, Sangita Kalalata and Gita Prakasha. Odissi music is a combination of four distinctive kinds of music, namely, Chitrapada,Dhruvapada, Panchal and Chitrakala. When music uses artwork, it is known as Chitikala. A unique feature of Odia music is the Padi, which consists of singing of words in fast beat.
Being a part of the rich culture of Odisha, its music is also as much charming and colorful. Odissi music is more than two thousand five hundred years old and comprises a number of categories. Of these, the five broad ones are Tribal Music, Folk Music, Light Music, Light-Classical Music and Classical Music. Anyone who is trying to understand the culture of Odisha must take into account its music, which essentially forms a part of its legacy.
In the ancient times, there were poets who wrote the lyrics of poems and songs that were sung to rouse the religious feelings of people. It was by the eleventh century that the music of Odisha, in the form of Triswari, Chatuhswari, andPanchaswari, underwent transformation and was converted into the classical style.
Folk music like Jhumar, yogi gita, kendara gita, dhuduki badya, prahallad natak, palla, sankirtan, mogal tamasa, gitinatya, kandhei nacha, kela nacha, ghoda nacha, danda nacha and daskathia are popular in Odisha. Almost every tribal group has their own distinct song and dance style.
[edit]Structural art
Other cultural attractions include the Jagannatha Temple in Puri, known for its annual Rath Yatra or Car Festival, the unique and beautiful applique artwork of Pipili, silver filigree ornamental works from Cuttack, the Patta chitras (palm leaf paintings), famous stone utensils of Nilgiri (Balasore) and various tribal influenced cultures. The Sun temple at Konark is famous for its architectural splendour and erotic sculpture, while the 'Sambalpuri textiles' equals it in its artistic grandeur. Thesari of Odisha is much in demand throughout the entire world. The different colors and varieties of sarees in Odisha make them very popular among the women of the state. The handloom sarees available in Odisha can be of four major types; these are Ikat, Bandha, Bomkai and Pasapalli. Odisha sarees are also available in other colors like cream, maroon, brown and rust. The tie-and-dye technique used by the weavers of Odisha to create motifs on these sarees is unique to this region. This technique also gives the sarees of Odisha an identity of their own.
[edit]Sand art
A unique type of art form was developed at Puri[citation needed], but it has spread all over the world. To carve a sand sculpture, the raw material is clean and fine-grained sand mixed with water. With the help of this type of sand and by the magic of fingers, an artist can carve a beautiful and attractive sculpture on the beach. Sudarshana Pattanaik is one of the major world-class artists in this sculpture.[citation needed]
Although not historically proved, there is a story in the Odia myths regarding the origin of sand sculpture: "Poet Balaram Das, the author ofDandi Ramayan was a great devotee of Jagannath. Once during Ratha Yatra (Car Festival), he tried to climb the chariot of Jagannath to offer his prayer. He wasn't allowed by the priests of the chariot to climb it and was also insulted by them. With great frustration and humiliation he came to the beach (Mahodadhi) and carved statues of Jagannath, Balabhadra and Devi Subhadra on the golden sand.
[edit]Religion
The majority of people in the state of Odisha are Hindu and there is a also rich cultural heritage in the state. For example, Odisha is home to several Hindu figures. Sant Bhima Bhoi was a leader of theMahima sect movement. Sarala Dasa, an adivasi, was the translator of the epic Mahabharata in Odia. Chaitanya Dasa was a Buddhistic-Vaishnava and writer of the Nirguna Mahatmya. Jayadeva was the author of the Gita Govinda.
The Orissa Temple Authorisation Act of 1948 empowered the Government of Odisha to have Hindu temples open for all Hindus including the Harijans.[41]
Perhaps the oldest scripture of Odisha is the Madala Panji from the Puri Temple believed from 1042 AD. Famous Hindu Odian scripture includes the 16th century Bhagabata of Jagannatha Dasa.[42] In the modern times Madhusudan Rao was a major Odia writer, who was a Brahmo Samajist and shaped modern Odia literature at the turn of the 20th century.[43]
See also: Odisha#Demographics[edit]Cinema
Main article: Odia Film IndustryThe Odia film production in the initial years was very slow. After first Odia film Sita Bibaha in 1936, only two films were produced till 1951. A joint consortium of landlords and businessmen who collected funds after 1948 produced those two movies. The first film 'Sita Bibaha' was directed by Mohan Sunder Dev Goswami and was released in Laxmi Theatre, Puri. The 1951 production Roles to Eight was the first Odia film having an English name. It was released after 15 years of the first Odia film Sita Bibaha. It was the fourth Odia film produced by Ratikanta Padhi. The eleventh Odia film Sri Lokenath was the first Odia film, which got National Award in 1960 directed by Prafulla Sengupta.
The same year, Prasant Nanda won a National Award as best actor for the film Nua Bou with his debut film. The name of Prasantha Nanda would always come while dealing with Odia Film Industry. He was present in Odia films since 1939, but he became active only after 1976. Nanda served Odia Film Industry as an actor, director, screenplay writer, and lyricist and even as a playback singer. Such a versatile genius is quite rare in Indian cinema history. Nanda alone carried Odia films into the national honor list by winning National Awards three times in 1960, 1966 and 1969 for his acting in Nua Bou, Matira Manisha and Adina Megha. Uttam Mohanty, whose debut film Abhiman won accolades all over, is now the veteran actor of the Odia Film Industry. His wife Aparajita Mohanty is also a renowned actress. Sarat Chandra Pujari was one of the most popular actor of the 60S era. His popular films are Nua Bou, Jeevan Sathi, Sadhana, Manika Jodi, Naba Janma, Matira Manisa, Arundhati, Ghara Sansara, Bhookha, etc. His films portrayed the general condition of the state of Odisha with a strong social message. Sarat Chandra Pujari is a prominent figure till now. Apart from being an actor he was also a successful director and an academician. He still continues to act in a few selected films. Currently he is enjoying his retired life and writes columns in the newspapers as his hobby. Raju Mishra is another rising star in Odia film industry. He is an international award wining photographer, director, choreographer and lyricist of Odia film industry. Other well known actors are Bijaya Mohanty, Uttam Mohanty, Sidhharth, Sriram Panda, Maheswata, Tandra Ray and others.
[edit]Cuisine
Main article: Odia cuisineOdisha has culinary tradition spanning centuries if not millennia. The kitchen of the famous Jagannath temple in Puri is reputed to be the largest in the world, with a thousand chefs, working around 752 wood-burning clay hearths called chulas, to feed over 10,000 people each day.[citation needed]
Salepur Rasogolla is famous and it is mainly prepared by Kar and Brothers (Bikalananda Kar) ofsalepur. Its branches are also present in Cuttack and Bhubaneswar. Pahala, located on the Cuttack-Bhubaneshwar road, is famous for its variety of Rasgullas. The well-known rice pudding, kheeri (kheer) that is relished all over India, also originated in Puri two thousand years ago. Chhenapoda is also a major Odisha sweet cuisine originated in Nayagarh, it is made by caramelizing cottage cheese with sugar, cardamom and other ingredients and then burning it over a chula (wood-burning clay hearths). Chenna Jheeli and malpua are other famous sweet deserts. One of the most famous delicacies of Odisha is Kakara Peetha (made of sooji or finely grained wheat) especially with coconut filling sauteed with pepper, cardamom, sugar and ghee and sometimes cottage cheese (chena). Its one of the major delicacy during the festival occasions. Arisha is another delicacy. The sweet aroma of powdered rice and Gud being deep fried in Ghee is mesmerizing. Poda Pitha, Haladi Patra Pitha, Manda Pitha, Chitou Pitha are more examples of Odia specialitites. Mudhi (puffed rice) is an integral part of every Odia household. Bariapada is famous for its Mudhi. Mudhi serves the purpose of an instant snacks. It perfectly blends with any thing. Be it Chenachur (mix salty fried snacks), milk, curries, peanuts or mango pulp.
Pakhala, a dish made of rice, water, and yoghurt, that is fermented overnight, is very popular in summer, particularly in the rural areas. Odias are very fond of sweets and no Odia repast is considered complete without some dessert at the end. A typical meal in Odisha consists of a main course and dessert. Typically breads are served as the main course for breakfast, whereas rice is eaten with lentils (dals) during lunch and dinner. The main course also includes one or more curries, vegetables and pickles. Given the fondness for sweet foods, the dessert course may include generous portions of more than a single item. Odia desserts are made from a variety of ingredients, with milk, chhenna (a form of ricotta cheese), coconut, rice, and wheat flour being the most common.
Also one of the most famous veg dishes are Dalma (made of lentils and vegetables boiled together and then fried with other spices) and Santula. Even the former Indian President Dr. APJ Abdul Kalam introduced these into the Rashtrapati Bhavan Menu. Ghanta and Posta curries are also some of the signature dishes.
Odisha food habit is pretty balanced between the non-vegetarian and vegetarian habits. Due to its vast shoreline and number of rivers flowing across, fish is a very important part of the diet. Odisha also expertises in sea food cuisines like Prawn and Crab. The famous Chilika Lake is particularly famous for offering best sea food cuisines that are one of a lifetime experience.[citation needed]
Odisha's food habit is actually the horizon between the South Indian food habit and the North Indian food habits. One can easily find Dosas, Vadas and idlis being served as breakfast and snacks which are typically south Indian food and also can find Poori- Chole, Samosa's (locally called Singada), and other north Indian delicacies in the menu. One of the best combination of both the North and South of India is Dahibara-Aludum-Gugguni especially in the city of Cuttack. Dahibara (vadaa dipped and soaked in curd), aludum (a spicy curry made from potato) and Guuguni (chickpea curry) really go well together and is one of the best fusion of the Indian recipes.
[edit]Education
The ruins of a major ancient university and center of Buddhist learning, Ratnagiri, were recently discovered in the Jajpur district of Odisha. Scholars from far away lands, such as Greece[citation needed], Persia and China used to study philosophy, astronomy, mathematics and science at this famed university. Taxila, Nalanda and Ratnagiri are amongst the oldest universities in the world. The ruins of Ratnagiri University have not been fully excavated yet.
The modern higher education system in Odisha is the legacy of the British Raj. There are eleven recognised universities or deemed universities viz. Ravenshaw University at Cuttack,Veer Surendra Sai University of Technology, Burla, Sambalpur (formerly University College of Engineering, Burla), Utkal University (at Bhubaneshwar), Sambalpur University at Sambalpur, Berhampur University at Berhampur, North Odisha University at Baripada, Fakir Mohan University at Balasore, Odisha University of Agricultural Technology (OUAT) at Bhubaneshwar, Utkal University of Culture at Bhubaneshwar, Biju Patnaik University of Technology at Rourkela, Sri Jagannatha Sanskrit University and Sadashiva Kendriya Vidyapeetha Deemed (Sanskrit) University both at Puri and KIIT University in Bhubaneshwar. Many of these universities have numerous constituent colleges some of which are autonomous such as BJB College at Bhubaneshwar, SCS College at Puri, N.C. College at Jajpur, G.M. College at Sambalpur, Khalikote college at Berhampur, F.M. College at Balasore among others.
Entry to various institutes of higher education especially into engineering degrees is through a centralised Joint Entrance Examination, conducted by the Veer Surendra Sai University of Technology where seats are provided according to order of merit.[44] Berhampur university is located in the center of Odisha in the city Berhampur way to Gopalpur.[45]
One of the prestigious institutions of India, NIT Rourkela, National Institute of Technology was upgraded from Regional Engineering College and is an Institute of National Importance. Another premier college of Odisha is the Veer Surendra Sai University of Technology, Burla, which is the first engineering college in Odisha and is famous for its excellent infrastructure and state-of-art teaching methodology.[citation needed]Odisha is also home to one of the two Indian Institute of Mass Communication IIMC situated in Dhenkanal. This is a premier institute for mass communication and journalism.[citation needed]
The Xavier Institute of Management, Bhubaneswar (XIMB) is a premier business school of national and international significance[citation needed] located in the state capital. The National Institute of Science Education and Research, Bhubaneswar (NISER) is another premier educational cum research institution[citation needed] that is being set up. It will be built along the lines of the reputedIISc, Bangalore. The government of Odisha has provided 935 acres (3.78 km2) of land at Arugul near Jatni Railway Station for IIT Bhubaneshwar. Classes have already started from 2008 batch.IIT BBSR The plans of setting up of an AIIMS is also in advanced stages. Meanwhile Vedanta University Project, a not-for-profit initiative by the Anil Agarwal Foundation, is an epoch-making dream to have a world class centre for learning and research on the picturesque Puri-Konark marine drive in Odisha. It will have about 100,000 students with an international mix of students pursuing around 95 diverse streams of learning in a sprawling campus of around 56,000,000 sq ft (5,200,000 m2) built up area supported by state of the art, IT and Communications systems. Even more recently, Reliance industries has expressed its intention of establishing a new Dhirubhai Ambani Institute of Information and Communication Technology (DA-IICT), as well as a health city for medical education and research in Bhubaneshwar. Some of the research institutes of Odisha includes Institute of Physics at Bhubaneshwar, Institute of Life Sciences at Bhubaneshwar, Central Rice Research Institute at Cuttack, Central Institute of Fresh water Aquaculture (CIFA)at Bhubaneshwar, Regional Medical Research centre at Bhubaneshwar, Institute of Minerals and Material Technology at Bhubaneshwar and Regional Plant Resource Centre at Bhubaneshwar. As of now, Odisha receives the lowest per capita investment of all 28 states from the central government towards human resource development.
Odisha also boasts of many renowned medical Colleges such as SCB Medical College, Cuttack, Veer Surendra Sai Medical College, Burlaand MKCG Medical College, Berhampur. These colleges have been able to produce excellent doctors who have gone on to head various top posts in the Union Medical Departments. Kalinga Institute of Medical Sciences, Bhubaneshwar and Hi-tech Medical College, Bhubaneshwar are some of the private world-class medical colleges and hospitals serving the state of Odisha. Many students from the neighboring state of Jharkhand, Bihar and Chattisgarh come to Odisha for better education and expertise. Various International and National Universities have signed MoUs with top colleges for various seminars and workshop to be conducted within the campuses. The elite IIT have started its classes in Bhubaneshwar and for which the plans have already been laid out and is already taking shape. [46]
Further information: List of educational institutions in Orissa, Higher education in Orissa, and Orissa IIT Controversy[edit]Tourism
The landscape of Odisha is dotted with a large number of temples. The temples of Odisha conform to the Indo Aryan Nagara style of architecture, with distinctive features specific to this region. The best known of these are the Lingaraja temple at Bhubaneshwar, Jagannath Temple at Puri and the Sun Temple at Konark. The temples of Odisha exhibit a majestic grandeur. An Odia temple (deula) usually consists of a sanctum, one or several front porches (jagamohana) usually with pyramidal roofs, a dancing hall (nata mandir) and a hall of offerings (bhog mandir).
'The Lingaraj temple at Bhubaneshwar boasts of a 150-foot (46 m) high deul while the Jagannath Temple at Puri is about 200 feet (61 m) high and it dominates the skyline of the town. Only a portion of the Sun Temple at Konark, the largest of the temples of the Golden triangle exists today, and it is still staggering in size. It stands out as a masterpiece in Odisha architecture. Odisha is also well known as a Buddhist and Jain pilgrimage destination. North-east of Cuttack, about 10 km from Bhubaneshwar, there are Buddhist relics and ruins at the three hilltop complexes of Udayagiri and Khandagiri Caves, which still bear witness to Buddhism's fruitful tryst with this region until well into the 13th century.
Odisha's varying topography – from the wooded Eastern Ghats to the fertile river basin – has proven ideal for evolution of compact and unique ecosystems. Thereby creating such treasure troves of flora and fauna that even seem inviting to many migratory species of birds and reptiles. Bhitar Kanika National Park is famous for its second largest mangrove ecosystem. The bird sanctuary in Chilika (Asia's biggest brackish water lake) and the tiger reserve and waterfalls in Simlipal National Park are integral part of any eco tours in Odisha, arranged by Tourism of Odisha.[47]
The Gharial Sanctuary at Tikarpada and the Olive Ridley Sea Turtles in Gahirmatha turtle sanctuary also feature on the list of avid nature watchers. The city wildlife sanctuaries of Chandaka and Nandan Kanan are a must visit for the lessons they teach is conservation and revitalization of species from the brink of extinction.
Odisha is blessed with around 500 km long coastline and has some of the most beautiful beaches in the world. Chilika, Asia's largest brackish water lake, not only provides a haven for millions of birds, but is also one of the few places in India where one can view dolphins. The lush green forest cover of Odisha plays host to a wide variety of flora and fauna, including the famed Royal Bengal Tiger. Amidst the picturesque hills and valleys nestle a number of breathtaking waterfalls and rivulets that attract visitors from all over. Odisha beaches includePuri, Gopalpur-on-Sea, Chandipur, Ramachandi Beach, Balighai Beach, Astarang Beach, Paradeep Beach. The famous Shiva Temple is nearDhenkanal.
[edit]References
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- ^ a b Loka Nutrya Ghumura, Edited by Parameswar Mund, Mahabir Sanskrutika Anusthan, June 2002
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- ^ P. 63 Case studies on human rights and fundamental freedoms: a world survey, Volume 4 By Willem Adriaan Veenhoven
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[edit]External links
Wikimedia Commons has media related to: Orissa - Official Website of the State Government of Orissa
- Official Website of Orissa State Tourism
- www.odisha.org Odia Articles from renowned Columnists
- Orissa travel guide from Wikitravel
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India approves long-delayed $12 billion POSCO steel mill - Yahoo! News
31 Jan 2011 ... India's environment ministry approved on Monday South Korean POSCO'splans for a $12 billion steel mill, a boost for the foreign investment ...
news.yahoo.com/s/nm/20110131/bs_nm/us_india_posco - United States -
India approves long-delayed $12 billion POSCO steel mill | Reuters
31 Jan 2011 ... NEW DELHI (Reuters) - India's environment ministry approved on Monday South Korean POSCO's plans for a $12 billion steel mill, ...
www.reuters.com/article/2011/.../us-india-posco-idUSTRE70U1LI20110131 -
Setback to Posco steel project in Orissa - The Times of India
14 Jul 2010 ... In a major setback to the proposed Rs51,000cr Posco steel project in Paradip, the Orissa High Court set aside the state govt's ...
timesofindia.indiatimes.com › Business - Cached-
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PPSS questions MoEF clearance to Posco, to intensify stir
IBNLive.com - 5 hours agoPPSS, which had been opposing the project ever since Posco-India signed MoU ... that the 12mtpa steel mill would soon come up in their area near Paradip. ...
TYO:5412 -
Decision on POSCO steel mill in Orissa on Jan 31: Ramesh
Moneycontrol.com - 24 Jan 2011A final decision on granting green clearances for South Korean steelmakerPOSCO's steel mill in India's eastern Orissa state will be made on January 31, ...Decision on POSCO India steel mill on Jan 31-minister - Reuters Africa
Govt to take final call on Posco project by Jan end - Economic Times
Govt to take final call on Posco project by Jan end - Oneindia
Daily News & Analysis - AFP
all 93 news articles » TYO:5412
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Posco gets green light with 28 new conditions
NDTV.com - 8 hours agoThe Posco project, the largest FDI in the country, has been mired in controversy for ... Earlier, South Korea had urged India to fast-track the steel project. TYO:5412 -
Fast-track Posco plant, says Seoul
Times of India - 20 Jan 2011NEW DELHI: South Korea on Thursday urged India not to "disregard" the importance of the proposed $12 billion Posco steel project, in view of the development ...Don't ignore Posco, says South Korean Minister - The Hindu
Fast track Posco project, urges South Korea - Indian Express
Posco Makes Presentation Before Environment Min - Outlook
Economic Times - Business Standard
all 56 news articles » TYO:5412
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India Embraces Korean Steelmaking With Land Law Change Limiting ...
Bloomberg - Andrew MacAskill - Bibhudatta Pradhan - 6 days ago
... the future Posco steel company plant is to stand, in Dinkia, Orissa, India.... unload stone from a truck at JSW Bengal Steel Ltd. in Salboni, India. ...Posco denies plan to build steel plant in Congo - Business Standard
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* Brazil and China trade tensions set to rise
Financial Times (blog) - 5 hours ago... Monday to approve Posco's plans for a $12bn steel mill appears to be another victory for those watching closely to see an India more open to business. ... -
Posco, IMFA in JV to set up 35k tpa ferrochrome unit at Orissa
Economic Times - 21 Jan 2011NEW DELHI: The world's third largest steel maker Posco today said it has tied... India's largest ferrochrome manufacturer IMFA operates five furnaces with ...Posco to Set Up Ferrochrome Joint Venture in India - Bloomberg
POSCO India steel mill likely to win approval -sources - Reuters Africa
Posco to Set Up Ferrochrome Joint Venture in India - Oneindia
Korea Times - Yonhap News
all 53 news articles » TYO:5412 - BOM:533047
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SAIL Posco project report may be ready by Jan end
India Infoline.com - 14 Jan 2011The detailed project report (DPR) for the proposed joint venture (JV) between Steel Authority ofIndia Ltd (SAIL) and Korean steel maker Posco for a steel ...Untitled - Economic Times
all 71 news articles » TYO:5412 - BOM:500113 -
S Korean Trade Min may raise Posco issue with Sharma
Business Standard - 18 Jan 2011... likely to seek clearances for the much delayed Posco Steel project in Orissa, ... After the implementation of India-South Korea Comprehensive Economic ... TYO:5412
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India's FDI during Jan-Nov 2010 dips by 26% to $19 bn
Business Standard - 4 hours agoPTI / New Delhi January 31, 2011, 18:23 IST India's foreign direct investment (FDI) during January-November 2010 declined by 26 per cent to $18.99 billion ... -
ADRs no substitute for FDI
Economic Times - 15 hours agoThe government's proposal to allow Indian companies easier access to US equity ... to address what really ails FDI flows into India: lack of policy clarity,...Deceleration in FDI is no surprise - Business Standard
India attractive FDI destination despite some slowdown: Montek - Oneindia
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India not to rush into allowing FDI in retail: official
Business Standard - 1 day agoWhile FDI in multi-brand retail is prohibited in India, FDI upto 51 per cent is permitted in single brand retail. Pointing that India was losing agri ...FDI in retail will have to wait: Anand Sharma - Times of India
Anand Sharma hints FDI to wait for retail business - TopNews
Indian Express - Economic Times
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'Cairn delay to impact FDI'
Times of India - Sanjay Dutta - 21 hours ago
... saying that the green ministry's activism has hit FDI flow, could raise doubts over India as an investor-friendly destination among emerging markets. ...Resolve royalty issue before Cairn deal: ONGC - India Today
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FDI rules for degraded land may be relaxed
Business Standard - Anindita Dey - 13 hours ago
Foreign direct investment (FDI) rules in agriculture may be relaxed, ... on lease to a company for inviting FDI. There are 24 types of degraded land in India. -
India, Italy to set up joint business panel to boost trade
mydigitalfc.com - 1 hour ago
FICCI President Rajan Bharti Mittal said India's FDI policy is forward looking and invited Italian companies to come and invest in areas such as ...Need to for Closer Cooperation in Infrastructure – 10 areas - Press Information Bureau (press release)
India identifies 10 areas for closer cooperation with Italy - NetIndian
Anand Sharma to lead business delegation to Italy - Business Standard
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POSCO gets green signal for Orissa steel plant
Oneindia - 6 hours agoIt is considered as the single biggest foreign direct investment (FDI) inIndia. Union Environment Minister Jairam Ramesh granted the conditional clearence ...Posco, industry welcome conditional nod to Orissa project - Sify
India approves $12 bln S. Korean steel plant - AFP
Clearance to POSCO's Orissa project to send out positive signals ... -Economic Times
IBNLive.com - Daily News & Analysis
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India and the new world order
mydigitalfc.com - 17 minutes ago
India has been ranked the third most attractive destination for foreign direct investment(FDI) in the world. Net FDI/foreign institutional investor (FII) ...Majority of global firms mulling to expand operations in India - Indlaw.com
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Meghalaya not to allow foreign investment in mining
Business Standard - Supratim Dey - 11 hours ago
The draft policy had a clause which "encouraged" FDI in state's mining sector. ... India policy," was the clause that finds no mention in the final draft. ... -
FDI trend still in India's favour, says Ernst & Young
Daily News & Analysis - Ashish K Tiwari - 6 days ago
The relative decline of the United States as a source of FDI in India also continued in 2010. As a result, the number of US FDI projects in 2010 (206) was ...Falling FDI pinches Indian outsourcers - Financial Times (blog)
FDI to flow into new areas: E&Y - Hindustan Times
Majority of multinational biz expanding in India: E&Y survey - Economic Times
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Polavaram Project
From Wikipedia, the free encyclopediaPolavaram Project is a multi-purpose irrigation project across the Godavari River in India.
Contents
[hide][edit]Purpose
National River-Linking Project, which works under the aegis of the Indian Ministry of Water Resources, was designed to overcome the deficit in water in the country. As a part of this plan, surplus water from the Himalayan rivers is to be transferred to the peninsular rivers of India. This exercise, with a combined network of 30 river-links and a total length of 14,900 kilometres (9,300 mi) at an estimated cost of US$120 billion (in 1999), would be the largest ever infrastructure project in the world.[1] In this project's case, the Godavari River basin is considered as a surplus one, while the Krishna River basin is considered to be a deficit one.[2] As of 2008, 644 tmcft of underutilized water from Godavari River flowed into the Bay of Bengal.[3] Based on the estimated water requirements in 2025, the Central Water Commission recommended that sizable surplus water was to be transferred from the Godavari River basin to the Krishna River basin.[2] The project intends to use the diverted water for not only to benefit a cultivated command area of 175,000 hectares (430,000 acres), but also to supply water to coastal city ofVisakhapatnam for domestic and industrial purposes through a 208 kilometres (129 mi) long canal.[3]
[edit]History
In July 1941, the first conceptual proposal for the project came from the erstwhile Madras Presidency. Later Diwan Bahadur L. Venkata Krishna Iyer, then chief engineer in the Presidency's irrigation department, made the first survey of the project site and made a definitive proposal for a reservoir at Polavaram. The full reservoir level was proposed to be at 150 feet (46 m) and the approximate water storage was 1,000,000,000 cubic feet (28,000,000 m3). Iyer not only visioned cultivation of 350,000 acres (140,000 ha) over two crop seasons through this project, but also planned for a 40 megawatt hydroelectric plant within the project. The entire project was estimated to cost about
6.5 crore (US$1.41 million).[4] By 1946-47, the estimated cost rose to 129 crore. Due to additional enhancements to the project, the estimate of project in 2004 stood at 8,621 crore.[5]In 1980, then Chief Minister of Andhra Pradesh T. Anjaiah laid the foundation stone for the project. However the project stayed idle until 2004 when the Y. S. Rajasekhara Reddy-led government came to power.[6] In 2004, the Government of Andhra Pradesh sanctioned
1,320 crore (US$286.44 million) for the project.[7] Soon after, tenders were issued for the commensurate worth of services for the right canal of the project.[8] For the left canal, another 1,353 crore were sanctioned by the state government.[5][edit]Technical details
As of 2004, the proposed project would hold 75.2 tmcft thereby enabling irrigation of an additional 232,000 acre in Krishna, West Godavari,East Godavari, Visakhapatnam, Vizianagaram and Srikakulam districts of Andhra Pradesh.[5]
The project would constitute an earth-cum-rock fill dam of 2,310 metres (7,580 ft) length, spillway of 907 metres (2,976 ft) with 44 vents to enable discharge of 360,000 cusecs of water. To its left, 12 water turbines, each having 80 megawatt capacity, were to be installed. The right canal (173 kilometres (107 mi) long) discharges 17,500 cusecs and left canal (182 kilometres (113 mi) long) discharges 17,500 cusecs of water.[5]
[edit]Controversies
The proposed project would displace 276 villages and 44,574 families spread across three districts of Andhra Pradesh. Tribals constitute 50% of such a displaced population.[9] Human rights activists came out against the project because of these reasons. In addition, one activist pointed out that this interlinking of the rivers will harm the interests of the Telangana and Rayalaseema regions of the state.[10] Environmental activist Medha Patkar said that the project not only will displace several thousands of families, it will also submerge several archeologicalsites, coal deposits, a wildlife sanctuary and several hectares of farm land.[11]
Sixty-four years after the initial conception of the project, the Government of Andhra Pradesh secured the environmental clearance from the central agency in 2005. This clearance was obtained after the state government prepared a
4,500 crore forest management plan and rehabilitation and resettlement proposal covering 59,756 hectares that were being lost under the project. In addition, 40,000 was to be allotted for each dwelling to be constructed for the displaced as against 25,000 provided by other states.[12] Despite this clearance, the project faced political roadblocks. The Communist Party of India (M) and Telangana Rashtra Samithi were troubled with the issue of submerging agricultural lands and the detriment to Telangana, respectively.[13][14]Meanwhile, work on the project began in April 2006 and was expected to be completed by February 2007.[15] After 30% work of excavation work on the canals and 15% of the spillway works had been completed, the work was halted in May 2006 to seek clearance from the Ministry of Forests and Environment.[16]
The neighboring state of Orissa also expressed its concern on the submerging of its land and decided to study this together with the officials from Andhra Pradesh.[17] In response, Chief Minister of Andhra Pradesh Y. S. Rajasekhara Reddy clarified that neither Orissa nor Chattisgarhwould be affected by the construction.[18] The problem continued until 2010, when Chief Minister of Orissa Naveen Patnaik remained steadfast in his demand for compensation and rehabilitation of tribals of his state who would be displaced due to the submerging of their land.[19]
[edit]References
- ^ L., Bharati; V. U. Smakhtin and B. K. Anand (2009). "Modeling water supply and demand scenarios: the Godavari–Krishna inter-basin transfer, India". Water Policy 11: 140. doi:10.2166/wp.2009.109. Retrieved 4 November 2010.
- ^ a b Luna, Bharati; B. K. Anand, Vladmir Smakhtin (2009). "Analysis of the Inter-basin Water Transfer Scheme in India: A Case Study of the Godavari-Krishna Link". Strategic Analysis of the National River Linking Project (NRLP) on India 5: 63–78. Retrieved 4 November 2010.
- ^ a b Amarasinghe, Upali A.; Sharma, Bharat R. (2008). "Benefits of Irrigation Water Transfer in the National River Linking Project: A Case Study of the Godavari (Polavaram)-Krishna Link in Andhra Pradesh". Strategic Analysis of the National River Linking Project (NRLP) on India 2: 173–193. Retrieved 4 November 2010.
- ^ Gujja, Biksham (2006). Perspectives on Polavaram, a major irrigation project on Godavari. Academic Foundation. pp. 25–34.ISBN 8171885780.
- ^ a b c d "YSR performs bhoomi pooja for Polavaram project". The Financial Express. 9 November 2004. Retrieved 4 November 2010.
- ^ "Dronamraju's birthday celebrated". The Hindu. 20 December 2005. Retrieved 4 November 2010.
- ^ "పోలవరంమొదటి దశ పనులకు నిధులుమంజూరు". Oneindia.in. 27 July 2004. Retrieved 4 November 2010.
- ^ "Tenders issued for AP irrigation projects". The Hindu Business Line. 21 August 2004. Retrieved 4 November 2010.
- ^ S., Laxman Rao; Priya Deshingkar and John Farrington (30). "Tribal Land Alienation in Andhra Pradesh". Economic and Political Weekly: 5401–5407. Retrieved 4 November 2010.
- ^ "Polavaram project will spell doom for tribals: Human Rights Forum". The Hindu Business Line. 19 May 2005. Retrieved 4 November 2010.
- ^ "Green signal for Polavaram dam". The Times of India. 25 October 2005. Retrieved 4 November 2010.
- ^ "Polavaram project gets clearance". The Hindu. 26 October 2005. Retrieved 4 November 2010.
- ^ "TRS stalls Assembly over Polavaram". The Times of India. 17 February 2006. Retrieved 4 November 2010.
- ^ "CPI(M) plans Chalo Assembly on Polavaram". The Hindu. 9 February 2006. Retrieved 4 November 2010.
- ^ G. V., Ramana Rao (8 April 2006). "Work on Polavaram project in full swing". The Hindu. Retrieved 4 November 2010.
- ^ G., Nagaraja (18 May 2006). "Polavaram project works come to a grinding halt again". The Hindu. Retrieved 4 November 2010.
- ^ "Orissa for joint survey on Polavaram project". The Hindu. 15 November 2006. Retrieved 4 November 2010.
- ^ "Polavaram: no submergence in other States". The Hindu. 28 Mar 2007. Retrieved 4 November 2010.
- ^ "Polavaram dam: Andhra vs Orissa". NDTV. 4 November 2010. Retrieved 4 November 2010.
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Implement forest Act in Polavaram project area, Centre asks AP
Economic Times - 21 hours agoThis would explain the push by Jaganmohan Reddy and Prajarajya Chief Chiranjeevi for thePolavaram project. No benefit will accrue to the Telangana region ... -
Jagan to undertake march for clearance of Polavaram project
MSN India - 2 days agoThe Polavaram project was conceived as a multipurpose scheme providing irrigation to 4.36 lakh hectares, water supply to towns and villages en route, ...Jagan, Chiranjeevi to tour EG - Deccan Chronicle
Jagan to undertake Polavaram Walk - Express Buzz
Media Watch: Jagan on the back foot! - GreatAndhra.com
all 22 news articles »
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AP seeks faster clearance to Polavaram dam project
MSN India - 22 Jan 2011Polavaram dam project is being strongly opposed by neighbouring Orissa which argues that a large part of the border areas would go under the water if the ... -
National status for Polavaram project soon
Times of India - 7 Jan 2011NEW DELHI: In a move aimed at according Indirasagar Polavaram multi-purpose dam in Andhra Pradesh national project status, the advisory committee to the ...Orissa objects to green signal to Polavaram project - Economic Times
all 10 news articles » -
Orissa CM criticizes centre for supporting Andhra Pradesh over ...
Orissadiary.com - 6 Jan 2011Report by Dipti Ranjan Kanungo; Bhubaneswar: The Centre has sanctioned thePolavaram Project of Andhra Pradesh Government , while the matter is pending in ...
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Andhra Pradesh CM says efforts being made to declarePolavaram as ...
Orissadiary.com - 6 days agoTuni: Necessary efforts were being made to pursue the centre to declarePolavaram Project on river godavari as National Project, said N.Kiran kumar reddy ...
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The Green Turns Grey
Outlook - Sandipan Chatterjee - 2 days ago
Ritwick Datta, Lawyer The Polavaram project threatens to displace mostly people from the marginalised adivasi communities. ...
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Krishna Tribunal Verdict, Polavaram Project Discussed
Fullhyd.com - 7 Jan 2011Party MPs from Andhra Pradesh asked Sonia Gandhi to review Krishna Tribunal verdict, and to grant national project status to the Polavaram project. ... -
AP Issues Discussed With Centre
Fullhyd.com - 23 Jan 2011Since the Polavaram project has been cleared by the technical advisory committee, and the expenditure and finance committee is examining its outlay of Rs. ... -
CWC gives technical clearance for Polavaram
Express Buzz - 4 Jan 2011HYDERABAD: Clearing the decks for the Indirasagar irrigation project (Polavaram) to attain the national project status, the Technical Advisory Committee ...
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Foreign direct investment
From Wikipedia, the free encyclopediaForeign direct investment (FDI) or foreign investment refers to long term participation by country A into country B. It usually involves participation in management, joint-venture, transfer of technology and expertise. There are two types of FDI: inward foreign direct investmentand outward foreign direct investment, resulting in a net FDI inflow (positive or negative) and "stock of foreign direct investment", which is the cumulative number for a given period. Direct investment excludes investment through purchase of shares.[1]
Contents
[hide][edit]History
FDI is a measure of foreign ownership of productive assets, such as factories, mines and land. Increasing foreign investment can be used as one measure of growing economic globalization. The figure below shows net inflows of foreign direct investment in the United States. The largest flows of foreign investment occur between the industrialized countries (North America, Western Europe and Japan). But flows to non-industrialized countries are increasing sharply.
US International Direct Investment Flows:[2]
Period FDI Outflow FDI Inflows Net 1960-69 $ 42.18 bn $ 5.13 bn + $ 37.04 bn 1970-79 $ 122.72 bn $ 40.79 bn + $ 81.93 bn 1980-89 $ 206.27 bn $ 329.23 bn - $ 122.96 bn 1990-99 $ 950.47 bn $ 907.34 bn + $ 43.13 bn 2000-07 $ 1,629.05 bn $ 1,421.31 bn + $ 207.74 bn Total $ 2,950.69 bn $ 2,703.81 bn + $ 246.88 bn [edit]Types
A foreign direct investor may be classified in any sector of the economy and could be any one of the following:[citation needed]
- an individual;
- a group of related individuals;
- an incorporated or unincorporated entity;
- a public company or private company;
- a group of related enterprises;
- a government body;
- an estate (law), trust or other societal organisation; or
- any combination of the above.
[edit]Methods
The foreign direct investor may acquire voting power of an enterprise in an economy through any of the following methods:
- by incorporating a wholly owned subsidiary or company
- by acquiring shares in an associated enterprise
- through a merger or an acquisition of an unrelated enterprise
- participating in an equity joint venture with another investor or enterprise
Foreign direct investment incentives may take the following forms:[citation needed]
- low corporate tax and income tax rates
- tax holidays
- other types of tax concessions
- preferential tariffs
- special economic zones
- EPZ - Export Processing Zones
- Bonded Warehouses
- Maquiladoras
- investment financial subsidies
- soft loan or loan guarantees
- free land or land subsidies
- relocation & expatriation subsidies
- job training & employment subsidies
- infrastructure subsidies
- R&D support
- derogation from regulations (usually for very large projects)
[edit]Global Foreign Direct Investment
UNCTAD said that no significant growth of Global FDI. In 2010 was $1,122 billion and in 2009 was $1.114 billion. The figures was 25 percent below the pre-crisis average between 2005 to 2007.[3]
[edit]Foreign direct investment in the United States
"Invest in America" is an initiative of the US Department of Commerce and aimed to promote the arrival of foreign investors to the country.[4]
The "Invest in America" policy is focused on:
- Facilitating investor queries.
- Carrying out maneuvers to aid foreign investors.
- Provide support both at local and state levels.
- Address concerns related to the business environment by helping as an ombudsman in Washington DC for the international venturecommunity.
- Offering policy guidelines and helping getting access to the legal system.
The United States is the world's largest recipient of FDI. More than $325.3 billion in FDI flowed into the United States in 2008, which is a 37 percent increase from 2007. The $2.1 trillion stock of FDI in the United States at the end of 2008 is the equivalent of approximately 16 percent of U.S. gross domestic product (GDP).55
Benefits of FDI in America: In the last 6 years, over 4000 new projects and 630,000 new jobs have been created by foreign companies, resulting in close to $314 billion in investment.[citation needed] Unarguably, US affiliates of foreign companies have a history of paying higher wages than US corporations.[citation needed] Foreign companies have in the past supported an annual US payroll of $364 billion with an average annual compensation of $68,000 per employee.[citation needed]
Increased US exports through the use of multinational distribution networks. FDI has resulted in 30% of jobs for Americans in the manufacturing sector, which accounts for 12% of all manufacturing jobs in the US.[5]
Affiliates of foreign corporations spent more than $34 billion on research and development in 2006 and continue to support many national projects. Inward FDI has led to higher productivity through increased capital, which in turn has led to high living standards.[6]
[edit]Foreign direct investment in China
Starting from a baseline of less than $19 billion just 20 years ago, FDI in China has grown to over $300 billion in the first 10 years. China has continued its massive growth and is the leader among all developing nations in terms of FDI.[citation needed] Even though there was a slight dip in FDI in 2009 as a result of the global slowdown, 2010 has again seen investments increase.
[edit]Foreign direct investment in India
A recent UNCTAD survey projected India as the second most important FDI destination (after China) for transnational corporations during 2010-2012. As per the data, the sectors which attracted higher inflows were services, telecommunication, construction activities and computer software and hardware. Mauritius, Singapore, the US and the UK were among the leading sources of FDI. FDI for 2009-10 at USD 25.88 billion was lower by five per cent from USD 27.33 billion in the previous fiscal. Foreign direct investment in August dipped by about 60 per cent to USD 1.33 billion, the lowest in 2010 fiscal, industry department data released showed. [7]
[edit]Foreign direct investment and the developing world
Foreign investment can be a significant driver of development in poor nations. It provides an inflow of foreign capital and funds, in addition to an increase in the transfer of skills, technology, and job opportunities. Many of the East Asian tigers such as China, South Korea, Malaysia, and Singapore benefited from investment abroad. The Commitment to Development Index ranks the "development-friendliness" of rich country investment policies.
[edit]See also
[edit]References
- ^ https://www.cia.gov/library/publications/the-world-factbook/docs/notesanddefs.html?countryName=Iran&countryCode=ir®ionCode=me#2198
- ^ http://www.bea.gov/international/xls/table1.xls
- ^ UN body says global foreign direct investment inflows remain stagnant in 2010 http://business.globaltimes.cn/world/2011-01/613560.html
- ^ U.S. Reforms Promote Openness Retrieved on 2010-03-10
- ^ Foreign Direct Investment Facts and Myths Retrieved on 2010-03-10
- ^ Benefits of FDI The International Trade Administration. Retrieved on 2010-03-10
- ^ FDI inflows plunge by about 60% in August Economic Times (India Times) 2010-10-22
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