25.02.2007

• Telecom industry creates its own ombudsman
• Fed up of the DoT’s refusal to consent for the creation of an institution of Ombudsman for the telecom sector and TRAI’s limitations in its role as a recommendatory body for the creation of such an institution, the telecom companies themselves decided to go ahead and establish on themselves.
• An Ombudsman is an independent body to which consumers can take their complaints. It will have the power to mediate settlements between consumers and their service providers and can act as a one-stop solution to their owes by ensuring that they do not have to approach other consumer forums and courts for redressal mechanisms.
• Online consumer grievance redressal -- Core
• Consumer Online Resource & Empowerment Centre, is an organization supported by the Union ministry of consumer affairs. The online platform, which is at present running as a pilot project of Core, will be launched before World Consumer Rights Day on March 15.
• A little info about charity across the world
• US seems to be the leader across the globe even in making donations for charity.
• In the year 2000, it was the $500 crores ($5 bn) donation by Bill and Melinda Gates; and then in 2006 it was the $4350 crores ($43.5 bn) donation by Warren Buffet, that were the highest single contributions in a single year which skewed the charity figures of a country.
• Even though India now has the third highest number of millionaires in the world after US and Germany, our charity figures are no where near these figures.
• The US leads the pack with its individual gifts as a percentage of GDP with a figure of 1.7%.
• About Samjhauta Express
• This New Delhi-Lahore train link was suspended in 2001, following the attack on Indian parliament. It was restored again in 2004.
• SSA funding pattern
• The Central Government has changed the funding pattern of Sarva Siksha Abhiyan from 75:25 to 50:50.
• This means that the Central and State governments have to contribute equally to the scheme.
• Government clears the dedicated east-west rail freight corridor
• It costs about Rs. 28,181 crores.
• More about Indian Railway’s freight business
• Revenues from freight: 2004-05 (Rs. 30,778 crores) and 2005-06 (Rs. 36,287 crores)
• In 1950-51, the share of railways in total freight carried across the country was 89%. Today it is about 40%.
• Carrying freight by rail is stated to be 6 times more fuel efficient than carrying it by road.
• The Integrated Energy Policy of the Planning Commission has recommended that the Railways has to increase its freight market share to at least 50% by 2029-30. To achieve this, it has to grow 7.5 times against the road traffic’s growth at 5 times.
• Semiconductor policy cleared
• For availing incentives the semiconductor companies have to invest a minimum of Rs. 2,500 crores during the first 10 years. The incentive is subsidy of 20% of the capital expenditure.
• Finer details about extradition of Quattrocchi
• As India and Argentina do not have an extradition treaty between them, India has to make a request for extradition within 1 month from the date of the arrest of the individual.
• Total size of the mutual fund industry in India
• It is pegged at Rs. 3.39 lakh crores and is managed by about 30 odd AMCs (Asset Management Companies)