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    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
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    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
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    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
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    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
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    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
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    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.

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      Year End Review for the Department of Communications & Information Technology

      December 26, 2012

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      Press Information Bureau

      Government of India

      Ministry of Communications & Information Technology

      26-December-2012 16:46 IST

      YEAR END REVIEW

      The Telecom sector has witnessed exponential growth, especially in the wireless segment, in the last few years. With 937.70 million telephone connections at the end of September 2012, the Indian telecom network is the second largest in the world, only after China. Tele-density, which shows the number of telephones per 100 population in the country, was 77.04% at the end of September 2012.

      The number of internet subscribers increased from 22.39 million (including 13.35 million broadband subscribers) to 23.01 million (including 14.57 million broadband subscribers) during the period from January to June 2012. At the end of September 2012, there were 15.08 million broadband subscribers in the country.

      Telecom has evolved as a basic infrastructure like electricity, roads, water etc. and has also emerged as one of the critical components of economic growth required for overall socio economic development of the country. A study conducted recently has found that, in India, 10% increase in internet subscribers delivers, on an average, 1.08% increase in GDP. In the 10 states which had higher penetration of Internet, the increase in growth was higher at 2.36% on a average, for 10% increase in Internet penetration. In the year 2009-10, these 10 states, referred to as ‘relatively developed States’ had internet penetration rate of 2.76% compared to the set of 9 ‘Developing’ States having average internet penetration rate of only 0.61%. The study has also found that a 10% increase in mobile penetration delivers, on an average, 1.5% increase in GDP.

      National Telecom Policy – 2012 (NTP-2010)

      The government approved National Telecom Policy-2012 (NTP-2012) on 31st May 2012 which addresses the Vision, Strategic direction and the various medium term and long term issues related to telecom sector. The primary objective of NTP-2012 is maximizing public good by making available affordable, reliable and secure telecommunication and broadband services across the entire country. The main thrust of the Policy is on the multiplier effect and transformational impact of such services on the overall economy. It recognizes the role of such services in furthering the national development agenda while enhancing equity and inclusiveness. Availability of affordable and effective communications for the citizens is at the core of the vision and goal of the NTP-2012. NTP-2012 also recognizes the predominant role of the private sector in this field and the consequent policy imperative of ensuring continued viability of service providers in a competitive environment. Pursuant to NTP-2012, these principles would guide decisions needed to strike a balance between the interests of users/consumers, service providers and government revenue.

      Manufacturing of Telecom Equipment

      With the advent of next-generation technologies and operators rolling out 3G and broadband wireless access services, the demand for telecom equipment has increased. In an attempt to capitalize on this opportunity, the government and policymakers are focusing on developing the domestic manufacturing industry.  Despite significant growth of the telecom network and the subscriber base over the last decade, the telecom manufacturing sector has not shown corresponding increase.

      The NTP-2012, inter-alia, has following objectives on promoting Telecom Equipment Manufacturing:

      • · Create a corpus to promote indigenous R&D, IPR creation, entrepreneurship, manufacturing, commercialization and deployment of state-of-the-art telecom products and services during the 12th five year plan period.
      • Promote the ecosystem for design, Research and Development, IPR creation, testing, standardization and manufacturing i.e complete value chain for domestic production of telecommunication equipment to meet Indian telecom sector demand to the extent of 60% and 80% with a minimum value addition of 45% and 65% by the year 2017 and 2020 respectively.
      • · Provide preference to domestically manufactured telecommunication products, in procurement of those telecommunication products, which have security implications for the country and in Government procurement for its own use, consistent with our World Trade Organization (WTO) commitments.

      Auction of Spectrum

      Auction of Spectrum in 1800MHz band that commenced on 12.11.12 has been completed. Five companies participated in auction.

      National Optical Fiber Network (NOFN) project

      • NOFN Project is envisaged as a Centre-State joint effort. State governments are expected to contribute by way of not levying any RoW charges. This requires suitable tri-partite MoU to be signed by GOI, state governments & BBNL.
      • Tri-partite MoU has been signed on 26.10.2012 with 13 states and 3 Union Territories. A total of about 1,40,727 Gram Panchayats will get covered by Optical Fiber Network in these States and UTs.
      • Three Pilot Projects have been completed to cover all Gram Panchayats of Arain Block in Ajmer District (Rajasthan), Panisagar Block in North Tripura District (Tripura), Paravada Block in Vishakhapatanam District (A.P.). As on 15.10.2012, each of the 58 Gram Panchayats in these three Pilot Project Blocks have provided with 100 Mbps bandwidth.
      • Survey work for ‘laying of incremental OFC’ has commenced based on GIS data made available by NIC.

      Universal Service Obligation Fund (USOF)

      Various initiatives have been taken by DoT to cover the uncovered rural and remote areas of the country, with the support from USO fund. The achievements are listed below:

      • 424 Village Public Telephones (VPTs) have been provided during the year 2012 till October 2012. at the end of October 2012, 5.80 lakh (97.76%) villages were covered with VPTs.
      • As on 31.10.2012, 53452 VPTs out of the 62443 i.e. 85.60% VPTs have been provide under VPTs in newly identified uncovered villages as per Census 2001.
      • 14 Mobile Towers and 209 Base Transceiver Stations (BTSs) have been commissioned by Infrastructure Providers and Universal Service Providers respectively under the Shared Mobile Infrastructure Scheme, during the year 2012 till October 2012. Under this scheme, 7310, (99.42%) towers were set up by the end of October 2012.
      • 52,628 wire-line broadband connections and 3,347 kiosks have been set up in rural and remote areas under the scheme, during the year 2012 till October 2012 under the Rural Broadband Scheme for expanding provision of Wireline Broadband Connectivity up to village level.
      • A subsidy of Rs 330.13 crore has been disbursed through USOF during the year 2012 till 31.10.2012, A total fund of Rs 47035.33 crore has been collected under USOF till 31.10.2012. A total of Rs 22438.17 crore of USO fund has been utilized till 31.10.2012 and available potential balance of Rs 24597 crore.

      National Policy on Electronics (NPE) 2012

      Unlike the IT and Telecom Sector, wherein India has already been recognized as a global player, the performance of our electronic hardware manufacturing has lagged on account of specific challenges.

      It is estimated that by the year 2020 our domestic demand for the Electronics products and systems (this includes electronic products, hardware as well as components) would be USD 400 Billion as against domestic production of USD 100 billion only.

      To focus on Electronics System Design & Manufacturing (ESDM) in the country, a separate policy for the sector i.e. the National Electronic Policy (NPE) 2012 was approved for implementation by the Cabinet on 25.10.2012.

      The NPE provides for a comprehensive set of policy initiatives to revive the Electronics System Design and Manufacturing (ESDM) sector in the country, which include, broadly:

      Electronics Manufacturing Clusters (EMC) Scheme

      Modified Special Incentive Package (M-SIPS) Scheme

      Setting up Semiconductor Wafer Fabrication Units

      Preference to Domestically Manufactured Electronic Goods (Preferential Market Access)

      Scheme for mandatory registration of identified Electronic Products for meeting specified safety standards

      Human Resource Development initiatives in ESDM

      National Policy on Information Technology (NPIT) - 2012

      The National Policy on Information Technology 2012 was approved on 14th September 2012. The policy aims to leverage Information & Communication Technology (ICT) to address the country’s economic and developmental challenges. The policy inter alia envisages creation of additional 10 million employments by 2020.

      Under this Policy the objectives for HR Development include:

      • Creation of a pool of 10 million additional skilled manpower in ICT.

      Make at least one in every household e-literate.

      Enable access of content and ICT applications to foster inclusive development.

      Leverage ICT for expanding the workforce and enabling life-long learning.

      Produce 3000 PhDs annually in specialized areas by 2020.

      National Policy on Skill Development

      Government of India had announced a National Policy on Skill Development, which has set a target of skilling 500 million people by 2022 and a target of training 10 million persons in IECT sector has been assigned to this Department.

      In the year 2011-12, about 2.25 lakh persons were trained by NIELIT and CDAC. The PM’s National Council on Skill development has set a target of skilling 4.4 lakh persons for 2012-13. As of July 2012, a total of 1,25,792 candidates have been trained/undergoing training at NIELIT and CDAC.

      Development of North-Eastern Region

      The Cabinet approved on 12th April 2012 the implementation of Deity’s scheme for development of NER by enhancing training and education capacity in the information, electronics and communication technology (IECT) area through the National Institute of Electronics and Information Technology (NIELIT) (formerly DOEACC Society). The total budget outlay for the project is Rs 388.68 crores spread over a period of five years.

      NIELIT has also initiated projects for setting up Regional Institutes for e-Learning and Information Technolgy (RIELIT) at Kohima (Nagaland), Agartala (Tripura): and NIELIT Centres at Shillong (Meghalaya), Gangtok (Sikkim) and Itanagar (Arunachal Pradesh).

      Social Media and Citizen Engagement Framework

      The advent of internet and social media has brought in paradigm change in which citizens engage with each other as well as with government.

      In order to help government organizations engage more fruitfully with the various social media platforms, Citizen Engagement Framework and Social Media Framework has been created and notified on 8th September 2012.

      Information Technology Investment Regions (ITIRs)

      Government of India has accorded in-principle approval for setting up of three Information Technology Investment Regions (ITIRs) in the States of Karnataka, Andhra Pradesh and Odisha.

      Setting up of National Internet Registry (NIR)

      Indian Registry for Internet Names and Numbers (IRINN) under National Internet Exchange of India (NIXI) was recognized as the National Internet Registry during March, 2012 by Asia Pacific Network Information Centre (APNIC).

      National Supercomputing Mission

      High Performance Computing (HPC), also known as Supercomputing, plays an important role in both scientific advancement and economic competitiveness of a nation because it is a powerful tool for accelerating a nation’s R&D programs by increasing the productivity of scientists and researchers. It enables them to produce scientific and industrial solutions faster, less expensively, and with higher quality than traditional theory and experimentation alone.

      The national mission on supercomputing proposes to take an application centric approach for future HPC activities in the nation.

      Parallely, an initiative to upgrade the computing power of the current PARAM Yuva system installed at C-DAC, Pune from 54 Teraflop to 500 Teraflop has been undertaken.

      Major on-going Plan scheme/programmes of the Department

      E-Governance: Of the 31 Mission Mode Projects (MMPs), 24 have been approved by the Government of India. 22 MMPs have gone live and are delivering services electronically.

      State Data Centre (SDCs):  As on date 17 SDCs have been made operational and SDCs in 3 states are under implementation.

      Common Service Centers (CSCs): The CSCs are ICT enabled kiosks with broadband connectivity to provide various government, private and social services at the doorstep of the citizen. As on date, more than of 98,055 CSCs have been made operational in thirty five States/UTs.

      E-District: The Department has approved 16 Pilot e-District projects covering 41 districts. Pilot project has been launched/gone live in all the 41 districts across the country. The scheme for National Roll Out of e-District Mission Mode Project (MMP) was approved by the Cabinet Committee for Infrastructure on 20th April 2011.

      Mobile Governance: Deity has developed and notified the Framework for Mobile Governance in February 2012.

      Cyber Security

      • Indian Computer Emergency Response Team (CERT-In) has been operational as a national agency for cyber security incident response.

      National Crisis Management Plan for countering cyber attacks and cyber terrorism has been prepared and is being updated annually.

      To enable comprehensive cyber security policy compliance, the govt has mandated implementation of security policy within govt in accordance with the Information Security Management System (ISMS) Standard ISO 27001. In addition, Computer security guidelines have been issued for compliance within Govt. A Common Criteria based IT product security testing facility has been set up at Kolkata.

      During the Year 2012, Cyber Regulation Advisory Committee has been reconstituted and notified under Section 88 of Information Technology (Amendment) Act 2008. The first meeting of the re-constituted committee was held on 29th November 2012.

      National Knowledge Network

      • 915 links to Institutions have been commissioned and made operational. This includes 266 links to institutions under NMEICT, which have been migrated to NKN.

      61 virtual classrooms have been setup.

      Research & Development

      Cloud Computing

      Recognizing the potential of cloud computing, in areas such as e-governance, education, etc, CDAC has completed Cloud Stack – named Meghdoot using open source softwares. The Meghdoot Cloud stack has been deployed in the State Data Centre, Chennai as a Proof of Concept, along with some State Government Applications.

      IT Applications by National Informatics Centre (NIC)

      Amongst the important initiatives by NIC during the year were:-

      Open Government Platform (OGPL): The National Data Sharing and Accessibility Policy (NDSAP) has been notified by the Government. NIC has developed a technology solution for establishing an Open Data Portal for Government Departments. It will facilitate access and use of Government data by citizen to foster innovation and promote transparency.

      Central Public Procurement Portal (CPP):  NIC has developed a portal to provide a single point access to the information on tenders published by various Ministries/Departments, Public Sector Undertakings and Statutory Bodies. CPP is expected to bring in greater transparency in tendering process and gradually move towards adoption of electronic procurement solution for their procurement needs on a continuing basis.

      Co-operative Core Banking Solution (CCBS): NIC has launched a Co-Operative Core Banking Solution (CCBS) for Co-Operative banks. It is being offered as ‘Application As a Service’ and is hosted at National Data Centre of NIC. It will enable co-operative banks to go for core banking solution at affordable cost and in a faster manner.

      Department of Posts

      Contributing to the financial inclusion of the rural people:

      (A) Wage disbursal under Mahatma Gandhi National Employment Guarantee Act (MGNREGA): Extensive rural postal network of the country is actively engaged in disbursal of wages of MGNREGA with high levels of efficiency. During the year 2012-13 the Post Offices disbursed about Rs 9,133 crore by October, 2012 through about 5.53 crore savings accounts of MGNREGA workers standing in the Post Offices. Thus, the Department of Posts significantly contributed towards the success of this unique social security arrangement of unprecedented scale.

      (B) Financial Inclusion of Below Poverty Line (BPL Household: Department of Posts leveraged its network and outreach to financially include BPL households by targeting them for opening their savings accounts in the Post Offices and thus providing them with access to savings services. During the Year 2012-13 more than 1.53 crore households were financially included through this initiative by October, 2012.

      Introduction of e-enabled services

      (A) 24,969 Departmental post offices have been computerized as on date

      (B) India Post has introduced Remotely Managed Franking System in place of existing electronic Franking Machines. Around 5681 RMFS machines have been licensed and activated as on date.

      (C) e-Post office Portal was commissioned during 2011. During the current year PLI premia payment has also been added apart from sale of philatelic material.

      International Remittance services

      Recognizing the spurt in the volumes of international remittances into India in the recent years and the notable contribution of remittance inflows to the country’s economy, the Department of Posts has taken a project to revamp its international money order services. Currently, DoP provides electronic money remittance services on two platforms, viz. the IFS (developed by the Universal Postal Union) and Eurogiro. The following action has been completed in this regard:

      Setting up an International Remittances Unit (IRU) at CEPT, Mysore.

      Starting the inward international money order transactions from France on 22 November, 2012.  

      Expansion of Clientele Base of Postal Life Insurance(PLI)

      In order to provide insurance coverage to persons of various organizations which were earlier out of purview of PLI schemes and to scale up business revenues employees of following organizations have also been brought under PLI scheme w.e.f. 18.10.2012:

      (i) Joint ventures having Govt/PSU stake

      (ii) Credit Co-operative Societies registered under Co-operative Societies Act

      (iii)  Scheduled Commercial Banks

      (iv)  Deemed Universities and Educational Institutions accredited by recognized bodies i.e. AICTE, MCI, NAAC etc.

      “Sampoorna Jeevan Bima Gram” and “Sampoona Bima Sangathan”

      For better insurance coverage of eligible population, a targeted approach to cover villagers under RPLI and organizations under PLI has been started from November 2012 as under:-

      (i)  to identify and cover minimum 75% of employees of 20 organizations up to 31.10.2012 and 30 organisations/units up to 31.10.2012 as “Sampoorna Jeevan Bima Sangthan/Unit” under Postal Life Insurance;

      (ii)  To identify and cover 1000 villages up to 31.10.2012 and 2000 villages up to 31.03.2013, as “Sampoorna Jeevan Bima Gram” wherein at least one member of each house hold is to be enrolled under Rural Postal Life Insurance.

      Financial Services

      The Department successfully completed the vendor selection for its Financial System Integration project. The vendor selected was M/s Infosys who will be involved with the Core Banking solution and setting up of ATMs for the Department. The project has started on 28th September 2012.

      UIDAI Aadhar letters:

      Department of Posts is working as Register with UIDAI for providing Aadhar enrolments through Post Offices for phase-II operations also. A total of 80,84, 181 successful enrolments have been completed.

      ePost:

      New and enhanced version of ePost software has been launched on 12th December 2012. The enhanced version will have facility of sending multilingual messages apart from sending PDF files as attachment. During the year 2012 (upto Nov 2012), 13.64 lakh messages have been sent and Rs 104.50 lakhs earned as revenue.

      Sale of Gold Coins:

      Under retail post, India Post sells 24 carat gold coins of the denomination of 0.5 g, 1g, 5g, 8g, 10g, 20g and 50g through selected Post Offices. During the year 2012 (upto Nov 2012), 708 kg of gold coins were sold  and Rs 10.99 crores earned as revenue.

      Project Management Unit

      The Government has approved the IT Modernization Project of the Department of Posts for computerization of all the non-computerized post offices, Mail Offices, Administrative and other offices, establishment of required IT infrastructure, development of required software applications. IT modernization Project – India Post will enable Department to enhance and provide value additions to Mail, Savings Bank and Insurance, customer service while providing a platform to launch new initiatives and provide new rural services.

      Money remittance through Mobile phone service:

      An agreement has been signed with BSNL for providing money remittance through mobile phones. This is joint endeavor of Department of Posts & BSNL. BSNL has been provided with the requirements of DOP for development of the software. This service specially tailored for those who have a need to remit money regularly up to a sum of Rs 10,000. Under the Scheme, a remitter can go to any Post Office in the Circle enabled for the Mobile Money Transfer Service and remit an amount from Rs 1000/- to Rs 10,000/- to be paid to another mobile subscriber at the designated Post Office. The Slabs for money transfer is as follows:

      Slabs

      Charges of Remittance

      Rs 1000 to 1500

      Rs 40

      Rs 1501 to 5000

      Rs 70

      Rs 5001 to 10,000

      Rs 100

      The service initially has been launched on 15th November 2012 in four Circles viz. Kerala, Bihar, Delhi and Punjab and this service is provided in 18 selected Post Offices in each Circle.

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      MV/RK

      Topics

      ActsIncome Tax