G20 agrees to refrain from competitive devaluation

Leaders of the world’s 20 major economies on 2010 Novemver 12, refused to call on countries to stop undervaluing their currencies, leaving open a dispute between the U.S. and China that has raised the specter of a global trade war.

At the end of their two-day summit, the Group of 20 leaders including President Barack Obama issued a watered down statement that only said they agreed to refrain from “competitive devaluation” of currencies.

That call is of little consequence as the dispute that soured the G20 Summit is over Washington’s allegations that Beijing artificially keeps its currency, the yuan, weak to boost its exports.

The dispute over currencies is threatening to resurrect destructive protectionist policies like those that worsened the Great Depression in the 1930s.

The biggest fear is that trade barriers will send the global economy back into recession. A law the United States passed in 1930 that raised tariffs on imports is widely thought to have deepened the Great Depression by stifling trade.

Kisan Credit Card Scheme

The aim of Kisan Credit Card Scheme (KCC) is to provide adequate and timely support from the banking system to the farmers for their short-term credit needs during their cultivation for purchase of inputs etc., during the cropping season. Credit card scheme proposed to introduce flexibility to the system and improve cost efficiency.

Memorable Points:
1. This scheme was announced in Budget speech of Finance Minister in 1998-99 (Shri Yashwant Sinha was India’s Finance Minister at that time)
2. In the speech it was stated that NABARD would formulate a Model scheme for issue of Kisan Credit Cards to farmers, on the basis of their land holdings, for uniform adoption by banks, so that the farmers may use them to readily purchase agricultural inputs such as seeds, fertilizers, pesticides, etc. and also draw cash for their production needs.
3. NABARD formulated a Model Kisan Credit Card Scheme in consultation with major banks. Model Scheme circulated by RBI to commercial banks and by NABARD to Cooperative. Banks and RRBs in August 1998, with instructions to introduce the same in their respective area of operation.
4. As a pioneering credit delivery innovation, Kisan Credit Card Scheme aims at provision of adequate and timely support from the banking system to the farmers for their cultivation needs including purchase of inputs in a flexible and cost effective manner.
5. Beneficiaries covered under the Scheme are issued with a credit card and a pass book or a credit card cum pass book incorporating the name, address, particulars of land holding, borrowing limit, validity period, a passport size photograph of holder etc., which may serve both as an identity card and facilitate recording of transactions on an ongoing basis.

Benefits:
1. Simplifies disbursement procedures
2. Removes rigidity regarding cash and kind
3. No need to apply for a loan for every crop
4. Assured availability of credit at any time enabling reduced interest burden for the farmer.
5. Helps buy seeds, fertilizers at farmer’s convenience and choice
6. Helps buy on cash-avail discount from dealers
7. Credit facility for 3 years – no need for seasonal appraisal
8. Maximum credit limit based on agriculture income
9. Any number of withdrawals subject to credit limit
10. Repayment only after harvest
11. Rate of interest as applicable to agriculture advance
12. Security, margin and documentation norms as applicable to agricultural advance
13. Access to adequate and timely credit to farmers
14. Full year's credit requirement of the borrower taken care of.
15. Minimum paper work and simplification of documentation for drawal of funds from the bank.
16. Flexibility to draw cash and buy inputs.
17. Assured availability of credit at any time enabling reduced interest burden for the farmer.
18. Flexibility of drawals from a branch other than the issuing branch at the discretion of the bank.


Salient features of the Kisan Credit Card (KCC) Scheme
1. Farmers eligible for production credit of Rs. 5000 or more are eligible for issue of Kisan Credit Card.
2. Eligible farmers to be provided with a Kisan Credit Card and a pass book or card-cum-pass book.
3. Revolving cash credit facility involving any number of drawals and repayments within the limit.
4. Limit to be fixed on the basis of operational land holding, cropping pattern and scale of finance.
5. Entire production credit needs for full year plus ancillary activities related to crop production to be considered while fixing limit.
6. Sub-limits may be fixed at the discretion of banks.
7. Card valid for 3 years subject to annual review. As incentive for good performance, credit limits could be enhanced to take care of increase in costs, change in cropping pattern, etc.
8. Each drawal to be repaid within a maximum period of 12 months.
9. Conversion/reschedulement of loans also permissible in case of damage to crops due to natural calamities.
10. Security, margin, rate of interest, etc. as per RBI norms.
11. Operations may be through issuing branch (and also PACS in the case of Cooperative Banks) through other designated branches at the discretion of bank.
12. Withdrawals through slips/cheques accompanied by card and passbook.

Benefits of the Scheme to the Banks
1. Reduction in work load for branch staff by avoidance of repeat appraisal and processing of loan papers under Kisan Credit Card Scheme.
2. Minimum paper work and simplification of documentation for drawal of funds from the bank.
3. Improvement in recycling of funds and better recovery of loans.
4. Reduction in transaction cost to the banks.
5. Better Banker - Client relationships.

Over 7 crore Kisan Credit Cards have been issued to farmers till the end of March 2008 from its inception in 1998.In 2006-07, 85.11 lakh cards were issued and Rs. 46.72 lakh credit extended to farmers through these.

Farmers, who took agriculture loans through the Kisan Credit Card, were also covered under the Rs. 60,000-crore loan waiver scheme announced in the Budget 2008-09.

Protectionism

Protectionism is the economic policy of restraining trade between nations through qualitative and quantitative methods such as tariffs on imported goods, restrictive quotas, and a variety of other restrictive government regulations.
They are designed to discourage imports, and prevent foreign take-over of local markets and companies.This is a policy of antiglobalization and almost opposite to free trade. The term protectionism is used because this doctrine protects the business and labour within a country by restraining trade with foreign countries.
Thus, Protectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods,restrictive quotas, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over orcompetition.
A variety of policies can be used to achieve protectionist goals. These include:Tariffs, Import Quotas, Administrative Barriers, Export subsidies, Government subsidies & exchange rate manipulation.

Forest Resources & Bio-diversity in India

1. As per data released by Ministry of Forest & Environment the total forest cover of the country as per 2005 assessment is 677,088 sq. kms and this constitutes 20.60 percent of the geographic area of the country. Of this, 54,569 sq. kms (1.66 %) is very dense forest, 332,647 sq. kms (10.12 %) is moderately dense forest, while 289,872 sq. kms (8.82 %) is open forest cover. The scrub accounts for 38,475 sq. kms (1.17 %).

2. The State/UT wise forest cover in the country shows that Madhya Pradesh with 76,013 sq. kms has the largest area under forest cover, followed by Arunachal Pradesh (67,777 km²), Chhattisgarh (55,863 km²), Orissa (48,374 km²) and Maharashtra (47,476 km²).

3. Considering the proportion of geographic area under forest cover, Mizoram has the maximum percentage of 88.63%, followed by Nagaland (82.75%), Arunachal Pradesh (80.93%), and Andaman & Nicobar Islands (80.36%). Andhra Pradesh has the largest area under scrub (9,862 km²).

4. Even though forestry is the second largest land use in India after agriculture the contribution to the Gross Domestic Product from forestry is minimal (it was barely 1.1 percent in 2001).In 2008-09 the combined share of Agriculture, Forestry and Fishing was 17.1 %. An estimated 41 percent of the country’s forest cover has been degraded to some degree. As much as 78 percent of forest area is subject to heavy grazing and about 50 percent of the forest area is prone to forest fires. Domestic demand for timber and fuel wood is well above the sustainable level.

5. National Forest Policy of India targets to cover the 33% of the total geographical area under forests. Much money has been invested; however there is not positive growth.

6. India is also a Party to the Convention on Biological Diversity (CBD). Accordingly, India had developed a ‘National Policy and Macro level Action Strategy on Biodiversity’ in 1999.

7. India is known for its rich heritage of biological diversity, having already documented over 91,000 species of animals and 45,500 species of plants in its ten bio-geographic regions.

8. The Union Ministry of Environment and Forests (MoEF), the nodal agency for implementing provisions of CBD in India, developed a strategy for biodiversity conservation at macro-level in 1999 and enacted the Biological Diversity Act in 2002 followed by the Rules there under in 2004. The National Environment Policy, 2006, seeks to achieve balance and harmony between conservation of natural resources and development processes and also forms the basic framework for the National Biodiversity Action Plan.

9. Theme of NEP 2006: The National Environment Policy (NEP) 2006 seeks to achieve balance and harmony between conservation and development. The policy is intended to mainstream environmental concerns in all development activities. The dominant theme of this policy is that while conservation of environmental resources is necessary to secure livelihoods and wellbeing of all, the most secure basis for conservation is to ensure that people dependent on particular resources obtain better livelihoods from the fact of conservation, than from degradation of the resources.

10. International cooperation : India has participated in major international events on environment and biodiversity conservation since 1972. India has also contributed to developing the agreed texts, ratified, and complied with the commitments in various international conventions relating to biodiversity.

11. A National Lake Conservation Plan (NLCP) is being implemented for conservation of polluted and degraded urban/semi-urban lakes, leading to lake Rejuvenation in terms of improvement in water quality and biodiversity. As on March 2007, 31 projects for conservation of 46 lakes have been taken up.

12. A National River Conservation Plan (NRCP) is also under implementation in 160 towns along polluted stretches of 34 rivers spread over 20 states, the major rivers being Ganga, Yamuna, Gomti, Damodar, Satluj, Krishna, Cauveri and Godavari. The objective of NRCP is to check pollution in rivers through implementation of various pollution abatement schemes.

13. A National Medicinal Plants Board was set up under a government resolution notified on 24th November 2000 under the Ministry of Health and Family Welfare to promote coordination and implementation of policies relating to medicinal plants both at the Central and State levels.

14. Under a plan scheme ‘Assistance to Botanic Gardens’, financial assistance is provided to strengthen measures for ex situ conservation of threatened and endangered species. Guidelines for botanical gardens have been finalized and the vision is to have at least one botanical garden per district.

The Indian Council of Agricultural Research has set up a number of gene banks for ex situ conservation under the National Bureau of Plant Genetic Resources (NBPGR), New Delhi, National Bureau of Animal Genetic Resources (NBAGR), Karnal, National Bureau of Fish Genetic Resources (NBFGR), Lucknow, and National Bureau of Agriculturally Important Microorganisms (NBAIM), Mau.

15. A large number of microorganisms of agricultural importance also form a vital part of the diversified Indian agricultural ecosystem Projects have been initiated for reintroduction of threatened species into their natural habitats under appropriate conditions. Examples include mass propagation of pitcher plant, rehabilitation of mangroves in degraded open mud flats, and the effort towards relocation of rhinoceros from Kaziranga to Manas and tigers from Ranthambore to Sariska in Rajasthan.

16.India has established National Clean Development Mechanism Authority (NCDMA) for according host country approval to CDM projects as mandated under the Kyoto Protocol to the UN Framework Convention on Climate Change (UNFCCC). One of the criteria used for approval of CDM projects is impact on biodiversity. Host country approvals have so far been accorded to 404 CDM projects facilitating investment of more than Rs, 22,000 crores.

17. The Government has set up an ‘Expert Committee on the Impacts of Climate Change’ on 7th May 2007 under the chairmanship of Dr. R. Chidambaram Principal Scientific Adviser to the Government of India to study the impacts of anthropogenic climate change on India and to identify the measures that may have to be taken for addressing vulnerability to anthropogenic climate change impacts.

18.A high level coordination committee chaired by Prime Minister, namely, ‘Prime Minister’s Council on Climate Change’ has been set up on 6th June 2007 to coordinate national actions for assessment, adaptation and mitigation of climate change. The Government of India has released 'National Action Plan on Climate change' on 30th June 2008, which outlines a number of steps to simultaneously advance India's development and climate change - related objectives of adaptation and mitigation, including through setting up of eight National Missions.

19. Various Acts and Rules Related to Biodiversity Conservation
20. Bishnois of Rajasthan Committed to Conservation of Nature
21. Prof. M.S. Swaminathan Committe on Management of Coastal Zones

India's International cooperation in Environment & Biodiversity Conservation

India has participated in major international events on environment and biodiversity conservation since 1972. India has also contributed to developing the agreed texts, ratified, and complied with the commitments in various international conventions relating to biodiversity. These agreements are:

Convention on Biological Diversity (CBD), Convention on International Trade in Wild Species of Endangered Flora and Fauna (CITES), Ramsar Convention on Wetlands, World Heritage Convention, and the Bonn Convention on Conservation of Migratory Species (CMS).

Note: CBD: The Convention on Biological Diversity, known informally as the Biodiversity Convention, is an international treaty that was adopted in Rio de Janeiro in June 1992. Its objective is to develop national strategies for the conservation and sustainable use of biological diversity. It is often seen as the key document regarding sustainable development.The Convention was opened for signature at the Earth Summit in Rio de Janeiro on 5 June 1992 and entered into force on 29 December 1993.

Some other international agreements which have bearing on biodiversity to which India is a Party include UNFCCC, UNCCD, Commission on Sustainable Development, World Trade Organisation, International Treaty on Plant Genetic Resources for food and agriculture and UN Law of the Seas. Major multilateral environment agreements (MEAs) ratified by India

1. Convention on Wetlands of International Importance-1971 India ratified this convention in 1982. Issued covered in this convention were Conservation and wise use of wetlands,primarily as habitat for the water-birds.
2. Convention for the Protection of World Cultural and Natural Heritage-1972 India Ratified this convention on 04.11.1977
3. Convention on International Trade in Endangered Species-1973 India ratified this convention on 20.07.1976
4. Bonn Convention on Migratory Species of Wild Animals-1979 India ratified this convention on 01.11.1983 Issued covered were Conservation, management and wise use of migratory species of wild animals and their habitats.
5. Vienna Convention for Protection of the Ozone Layer-1985 India ratified this convention on 18.03.1991Issues covered were Protection of atmospheric ozone layer above the planetary boundary layer.
6. Montreal Protocol on Substances that Deplete the Ozone Laye-1987 India ratified this convention on 19.06.1992 Issues covered were Protection of atmospheric ozone layer above the planetary boundary layer
7. Basel Convention on Tran boundary Movements of Hazardous Wastes and their Disposal-1989 India ratified this convention on 24.06.1992 Issued covered were Regulation of transboundary movements of hazardous wastes and their disposal
8. United Nations Framework Convention on Climate Change (UNFCCC)-1992 India ratified this convention on 01.11.1993 The issues covered were Changes in the earth’s climate system due to anthropogenic interference
9. Kyoto Protocol to the UNFCCC-1997 India ratified this convention on 26.08.2002 Quantified emission limitation and reduction commitments for Annex I Parties
10. Convention on Biological Diversity (CBD) 1992 India ratified this convention on 18.02.1994 Issues covered were Biological diversity and biological resources
11. Cartagena Protocol on Bio safety to the CBD- 2000 India ratified this convention on 11.09.2003 Issues covered were Regulation of trans boundary movement, transit, handling and use of living modified organisms (LMOs)
12. United Nations Convention to Combat Desertification 1994 India ratified this convention on 17.12.1996 Issues covered were Combating desertification and mitigate the effects of drought, particularly in Africa
13. Rotterdam Convention on the Prior Informed Consent Procedure for Certain Hazardous Chemicals and Pesticides in International Trade-1998 India ratified this convention on 24.05.2005 Issues covered were Promote shared responsibility and cooperative efforts among the Parties in the international trade of certain hazardous chemicals, in order to protect human health and the environment from potential harm and to contribute to their environmentally sound use.
14. Stockholm Convention on Persistent Organic Pollutants - 2001 India ratified this convention on 13.01.2006 Issues covered were Protect human health and the environment from persistent organic pollutants.

A ‘Global Tiger Forum’ of tiger range countries has been created for addressing international issues related to tiger conservation. India has also actively supported numerous regional and bilateral programmes on biodiversity.

The MoEF, the nodal Ministry for the CBD and other biodiversity related conventions, is also the nodal agency in the country for the United Nations Environment Programme (UNEP), SACEP, ICIMOD, and IUCN. It has institutionalized the process for developing country’s position on major issues for negotiations under different international conventions.

In this context, the MoEF is continuously taking steps to harmonise national policies and programmes in implementation of various multilateral environment agreements, based on active involvement of various stakeholders.

The MoEF functions in partnership with a number of institutions for developing and implementing national strategies on conservation and sustainable use of biological diversity. These partners include Ministries, State Government departments, universities, other academic institutions, autonomous bodies, women’s organizations and NGOs.

Like- Minded Mega diverse Countries (LMMCs): India along with sixteen other mega diverse countries, rich in biodiversity and traditional knowledge, has formed a group known as the Like- Minded Mega diverse Countries (LMMCs). These countries are Bolivia, Brazil, China, Colombia, Costa Rica, Democratic Republic of Congo, Ecuador, Indonesia, Kenya, Madagascar, Malaysia, Mexico, Peru, Philippines, South Africa and Venezuela. The LMMCs hold nearly 70% of all biodiversity. India chaired the

LMMCs for a two-year period from March 2004 to March 2006,and coordinated the activities of this group focusing particularly on access and benefit sharing issues under the CBD.

Various India Acts Related to Biodiversity Conservation:

Important Govt. of India Central Acts and Rules having Relevance to Biodiversity Conservation:

1. Fisheries Act, 1897.
2. Destructive Insects and Pests Act, 1914.
3. The Indian Forest Act, 1927.
4. Agricultural Produce (Grading and Marketing) Act,1937.
5. Indian Coffee Act, 1942
6. Import and Export (Control) Act, 1947.
7. Rubber (Production and Marketing) Act, 1947.
8. Tea Act, 1953.
9. Mining and Mineral Development (Regulation) Act,1957
10. Prevention of Cruelty to Animals Act, 1960.
11. Customs Act, 1962.
12. Cardamom Act, 1965.
13. Seeds Act, 1966.
14. The Patents Act, 1970.
15. Wildlife (Protection) Act, 1972.
16. Marine Products Export Development Authority Act,1972.
17. Water (Prevention and Control of Pollution) Act, 1974.
18. Tobacco Board Act, 1975.
19. Territorial Water, Continental Shelf, Exclusive Economic Zone and other Maritime Zones Act, 1976.
20. Water (Prevention and Control of Pollution) Cess Act, 1977.
21. Maritime Zones of India (Regulation and Fishing by Foreign Vessels) Act. 1980.
22. Forest (Conservation) Act, 1980.
23. Air (Prevention and Control of Pollution) Act, 1981.
24. Agricultural and Processed Food Products Export Development Authority Act, 1985/1986.
25. Environment (Protection) Act, 1986
26. Spices Board Act, 1986.
27. National Dairy Development Board, 1987.
28. Rules for the manufacture, use/import/export and storage of hazardous microorganisms/ genetically engineered organisms or cells, 1989
29. Foreign Trade (Development and Regulation) Act, 1992.
30. Protection of Plant Varieties and Farmers' Rights (PPVFR) Act, 2001
31. Biological Diversity Act, 2002
32. Plant Quarantine (Regulation of Import into India) Order, 2003
33. Biological Diversity Rules, 2004
34. The Food Safety and Standards Act, 2006
35. Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006.

Policies on environmental management include the National Forest Policy, the National Conservation Strategy and Policy Statement on Environment and Development, and National Policy and Macrolevel Action Strategy on Biodiversity.

Some other sectoral policies (e.g. National Agriculture Policy and National Water Policy) have also contributed towards environmental management.

As our development challenges evolved and understanding of the centrality of environmental concerns in development sharpened, the National Environment Policy was developed in 2006.

Bishnoi Tribe of Rajasthan - Committed to Nature Conservation:

Bishnoi tribe of Western Rajasthan has, over the centuries, protected commited to the conservation of forests, trees and wild animals in and around their villages. Bishnois do not cut trees for fuel and timber; they remove only the dead trunks and twigs. Spotted deer, black buck and blue bull can be seen foraging fearlessly in their fields. Even if the crop is consumed by herds of deer, the Bishnois do not chase away the animals

In 1730 A.D. Maharaja Abhaya Singh of Jodhpur ordered cutting of trees in large numbers to provide timber for building a fortress. He sent soldiers to Bishnoi villages to cut down khejari trees growing in the area. When soldiers applied the axe, the Bishnoi villagers pleaded to spare the trees., When the soldiers did not relent, they hugged the trees and as many as 363 of them laid down their lives to save the trees.

The Bishnois worship nature in all its manifestations, conserve trees and medicinal plants, provide food and water to animals, and are vegetarians in their diet, as advocated by their Guru Jambaji.

Jambaji or Guru Jambheshwar (b. 1451) had founded Bishnoi sect after a drought in the Marwar region of Rajasthan. He made a community having 29 principles to follow , which included worship of lord Vishnu (Bishnu) and ban on Killing animals and the felling of trees. One of his 29 principles states "jeev daya palni, runkh lilo nahi dhave" which means to protect trees and animals, thus trees and animals are considered to be sacred by the Bishnois.

Prof. M.S. Swaminathan Committe on Management of Coastal Zones:

MoEF (Ministry of Environment & Forests, Govt. of India) had constituted an expert committee under the chairmanship of Prof. M.S. Swaminathan in July, 2004, to review and make recommendations with regard to implementation and amendments if necessary, of Coastal Regulation Zone Notification, 1991.

The Expert Committee submitted its report along with recommendations, which were accepted by the MoEF in April, 2005.

The major recommendations include:Implementation of Integrated Coastal Zone Management Plan rather than uniform regulatory approach

1. Development along the coastal stretches based on the vulnerability of the coast, taking into account the natural and man made hazards
2. Inclusion of the ocean zone for regulation.
3. Setting up of an Institute for Coastal Zone Management to address the policy and legal issues.
4. Abatement of the pollution of coastal areas and marine waters in a time-bound manner. Identification and mapping of the coastal Eco-sensitive areas such as mangroves, corals, and turtle breeding areas.
5. Development of coastal bio-shield.

The MoEF has initiated steps for implementing the above recommendations which include:Preparation of a national action plan for control of pollution of coastal waters from land based activities.

1. Pilot scale studies for demarcation of vulnerability line along identified coastal stretches through scientific organizations namely, Survey of India, Dehradun, Space Application Centre, Ahmedabad and Centre for Earth Science Studies, Thiruvananthapuram.
2. Seeking technical and financial assistance from multilateral agencies for implementing the recommendations pertaining to mapping of ecologically sensitive areas along the coastline, control of pollution in the coastal waters from land based activities and capacity building and institutional development

SARFAESI Act

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) empowers Banks / Financial Institutions to recover their non-performing assets without the intervention of the Court.
Methods:
The Act provides three alternative methods for recovery of non-performing assets.

1. Securitisation,
2. Asset Reconstruction,
3. Enforcement of Security without the intervention of the Court

Provisions:
The provisions of this Act are applicable only for NPA loans with outstanding above Rs. 1.00 lac. NPA loan accounts where the amount is less than 20% of the principal and interest are not eligible to be dealt with under this Act.
Non-performing assets should be backed by securities charged to the Bank by way of hypothecation or mortgage or assignment. Security Interest by way of Lien, pledge, hire purchase and lease not liable for attachment under sec.60 of CPC, are not covered under this Act
Powers to Banks:
This act gives the following powers to the affected Banks

1. To issue demand notice to the defaulting borrower and guarantor, calling upon them to discharge their dues in full within 60 days from the date of the notice.
2. To give notice to any person who has acquired any of the secured assets from the borrower to surrender the same to the Bank.
3. To ask any debtor of the borrower to pay any sum due or becoming due to the borrower.
4. Any Security Interest created over Agricultural Land cannot be proceeded with.

Procedure:
If on receipt of demand notice, the borrower makes any representation or raises any objection, Authorised Officer shall consider such representation or objection carefully and if he comes to the conclusion that such representation or objection is not acceptable or tenable, he shall communicate the reasons for non acceptance Within One Week of receipt of such representation or objection.
A borrower / guarantor aggrieved by the action of the Bank can file an appeal with DRT and then with DRAT, but not with any civil court. The borrower / guarantor has to deposit 50% of the dues before an appeal with DRAT.
More Measures:
If the borrower fails to comply with the notice, the Bank may take recourse to one or more of the following measures:

1. Take possession of the security
2. Sale or lease or assign the right over the security
3. Manage the same or appoint any person to manage the same

TOURISM IN INDIA

1. India Tourism Development Corporation was set up on October 1st , 1966.
2. As per UNWTO World Tourism Barometer India Ranks 42nd in the international tourism Arrivals in 2008. Top four countries are France, Spain, US & China. India’s rank in international tourism receipts was 20, while the top four countries with maximum receipts are US Spain France & Italy. Source of this info.
3. India maintained consistent high growth rate of 13.3 per cent, 13.5 per cent and 12.4 per cent in 2005, 2006 and 2007 respectively.
4. Tourist arrivals to India were down by more than 17 percent in January 2009 due to the global economic crisis as well as Terrorist Attack on Mumbai on Nov. 26, 2008. In December 2008, about 521,990 tourists came to India - a 12.5 percent decline compared to December 2007. In January this year, 487,262 travellers came to India, which was 17.6 percent decline compared to the same month of 2008. However in April 2009, some improvement had been witnessed with 370,756 tourists visiting India - a dip of just 3.5 percent.
5. As per estimates Tourism accounts for 12.2 % of Total World exports and 8.1% of Global Employment.
6. The Indian government is taking several steps to promote tourism in the country which has taken a knock following the global meltdown and the Mumbai terror attack such as announcement of various promotional schemes like Visit India Year 2009 to attract tourists to India. Under this scheme, travellers from abroad who visit India in 2009 will have a chance to get an extra sample of the country’s exotic adventure tourism and sublime eco, rural and wellness tourism in 2010 and 2011 too.
7. Tourism contributes 5.83% of India’s GDP.

8. Palace On Wheels :Palace on Wheels was started on the 26th January 1982.The concept of the Palace on Wheels was derived from the royal background of the coaches, which were originally meant to be the personal Railway coaches of the erstwhile rulers of the princely states of Rajputana, Gujarat, the Nizam of Hyderabad and the Viceroy of British India.

9. Village on Wheels : The Train "Village on Wheels" was flagged of from the Rajendra Nagar Station in Patna on 29th November, 2004 by Railway Minister Lalu Prasad Yadav, with the purpose of promoting Tourism and National Integration.

10. National Tourism Policy : In 1982 National Tourism Policy was presented in Parliament in 1982.
11. A Draft New Tourism Policy of India was prepared in 2002
12. The Travel & Tourism Competitiveness Report 2007 ranked tourism in India 6th in terms of price competitiveness and 39th in terms of safety and security. However, India's tourism sector currently lags behind less endowed countries and faces serious challenges including shortage of hotel rooms. In 2007, there were only 25,000 tourist-class hotel rooms in the whole of India.
13. With India gearing up to host the Commonwealth Games next year, hoteliers in the country are rushing to make the most of the likely spurt in tourist traffic, leading to a boom in development

14. A survey by World Travel and Tourism Council (WTCC), the report said that between now and 2018, India will be a tourism hotspot followed by China, Libya and Vietnam.

15. Govt of India in March 2009 announced the approval of two port projects and five highways projects worth an estimated Rs5,220 crore under the public-private partnership model. The latest approvals bring the total number of projects approved by the public private partnership approval committee, which was set up in January 2006, to 101. The projects, estimated to have a combined cost of a at least Rs1 trillion, include 88 highway projects, nine ports projects, two airport projects and one each in tourism infrastructure and railways.

16 . Royal Rajasthan : After success of Palace on wheels the government of India launched one more royal tourist train called Royal Rajasthan on January 11, 2009. Royal Rajasthan is a joint venture by the Rajasthan Tourism Development Corporation and the Indian Railways. The newly launched tourist train is supposed to provide support to Palace on Wheels. India's first luxury train, Palace on Wheels is booked till 2010. Royal Rajasthan is on seven-day stint to the land of maharajas, Rajasthan. The luxury train will regularly leave Delhi and start on its week-long journey through Jaipur, Jaisalmer, Jodhpur and Sawai Madhopur among other places before terminating the run at Delhi.
17 .Tourism department classified hotels under star system in 6 categories, which are from 1 star to five star plus a Heritage hotel category.

18. Tourism Finance Corporation of India: The Government of India had, in pesuance to the recommendations of the National Committee on Tourism viz Yunus Committee set up under the aegis of Planning Commission, decided in 1988 to promote a separate All-India Financial Institution for providing financial assistance to tourism-related activities/projects. TFCI was incorporated as a Public Limited Company under the Companies Act, 1956 on 27th January 1989 and became operational with effect from 1st February 1989 on receipt of Certificate of the Commencement of Business from the Registrar of Companies. TFCI has been notified as a Public Financial Institution under section 4A of the Companies Act, 1956. Its headquarters are in New Delhi.

19. Golden Triangles: The most famous tourism circuit in India is Golden Triangle which comprises Delhi Agra and Jaipur. Government of India is considering also another Golden triangle in South India at Chennai, Bangalore and Thiruvanantpuram

20. The Deccan Odyssey: Maharashtra Tourism Development Corporation Ltd in association with Indian Railways - Ministry of Tourism has launched a Super Deluxe luxury train "The Deccan Odyssey". The train has been benchmarked against the best luxury trains in the world like the Blue Train of South Africa, The Orient Express of Europe and the Eastern and Oriental of South East Asia. January 16th, 2004 Deccan Odyssey started its maiden journey from Chhatrapati Shivaji Terminus(CST)Mumbai.
21. Golden Chariot: The Golden Chariot is a luxury tourist train that connects the important tourist spots in the Indian states of Karnataka and Goa. It is named after the Stone Chariot in the Vitthala Temple at Hampi.

22. Fairy Queen: The oldest working steam locomotives in the world, the Fairy Queen made its maiden journey in the year 1855 for the erstwhile East Indian Railway. And rightly so, the Fairy Queen today holds the Guinness World Record for being the oldest locomotive in regular operation. It used to travel on the Howrah-Raniganj line and later in Bihar till 1908. In July 1997, the Indian Railway restarted its operation as a heritage train from Delhi to Alwar and from there the tourists are taken to world famous Sariksa Wildlife Sanctuary. It operates on the 2nd and the 4th Saturday of the months of October to March.
23. Mahaparinirvan Express : The Mahaparinirvan Express is a special tourist train that takes passengers on a spiritual tour through Buddhist India, where Buddhism originated more than 2,500 years ago. The train gets its name from the Mahaparinirvana Sutra, which contains the Buddha's final explanation of his teachings. Its sacred journey includes visits to the most important Buddhist pilgrimage sites of Lumbini (where the Buddha was born), Bodhgaya (where he became enlightened), Varanasi (where he first preached), and Kusinagar (where he passed away and achieved nirvana).Mahaparinirvan Express, special tourist train on Buddhist circuit has got National Tourism Award on march 3, 2009.
24. Indian Association of Tour Operators (IATO) : IATO is the national apex body of the tourism industry. Founded on 13th January1982 with just seven members, it has now over 4000 members from different segments of the tourism industry like travel agents, hotels, airlines, government tourism departments/ development corporations, educational institutions, transport operators and both national and international tour operators.

IATO has been the forum for the Tourism Industry for addressing crucial industry issues, at various levels. During the 1982 convention, IATO’s demand for the Tourism Industry’s recognition as EXPORTERS was finally accepted by the Government in 2002! IATO has constantly been discussing important issues at different fora and with persistent persuasion have attained the unique position of being the Industry’s prime contact with the Government.

While the Industry’s issues are the prime focus of IATO as the National apex Body, IATO has whole heartedly participated in its Social Obligations. IATO has supported all major National Causes, contributed by Relief emergency operations in National Crisis and calamities. IATO has also been actively involved in development of Professional Human Resources in the Tourism Industry, by providing on the Job Training to the students from Different Tourism Institutes and organizing special need based courses for training in the Industry.
25. TAAI : Travel Agents Association of India (TAAI) was formed towards the end of the year 1951 by a group of twelve leading Travel agents, who felt that the time had come to create an Association to regulate the Travel industry in India. The primary purpose was to protect the interests of those engaged in the industry, to promote its orderly growth and development and to safeguard the rights of the traveling public. TAAI represents all that is professional, ethical and dynamic in our nation's Travel related activity and has been recognised as the voice of the Travel and Tourism industry in India. With a membership data base of over 2400 Active; Allied and Associate members comprising of IATA accredited Travel Agencies; Airlines & General Sales Agencies; Hotels and Tour operators; TAAI is the largest Travel Association of India.
26. IITTM : Indian Institute of Tourism and Travel Management (IITTM), an autonomous organization of the Ministry of Tourism, Government of India, is one of the premier institutes in the country offering education, training, research and consultancy in sustainable management of tourism, travel and other allied sectors. The stakeholders’ realization that the country is in need of such professionals who can provide an excellent standard of products and services, resulted in the creation of IITTM in 1983 at New Delhi
27. FHRAI : Federation of Hotel & Restaurant Associations of India, often known by the acronym, FHRAI, is the Apex Body of the four Regional Associations representing the Hospitality Industry. FHRAI provides an interface between the Hospitality Industry, Political Leadership, Academics, International Associations and other Stake Holders. Established in the year 1955, FHRAI was sponsored by the four Regional Associations representing the Eastern, Northern, Western and Southern regions of India. The Memorandum of Association was signed by the doyens of the Industry on 15th April, 1955.
28. On November 29, 2007 India was unanimously elected chairman of the Executive Council of the General Assembly of United Nations World Tourism Organisation (UNWTO)in its 82nd meeting held at Cartegena de Indias, Colombia.

Concept of National Income

1. Gross National Product (G.N.P.):
Gross National Product is defined as the total market value of all final goods and services produced in a year. (Or any specified time period e.g. a quarter). We have to keep these things in mind:
1. It is the market value of everything that is produced by Nationals of a country both inside and outside the country’s territory.
2. To ascertain accurate changes in the total output gross national product is adjusted for price changes by comparing it to a base year
3. Everything in the point one means total goods and services. Final means that the value has to be counted only once and not twice. This means intermediate products are not counted. Only the products and services that are used for final consumption have to be counted. For example wheat is converted to flour. Floor is a good for final consumption, and the value of floor covers the value of the wheat as well. Flour may be further converted to biscuits and in this case biscuits cover the value of wheat and its conversion to flour as well. So various forms of most of the goods are purchased and sold several times. This is likely to subject such goods to double accounting - once in its semi-finished form, and again as the final good. In order to avoid this problem, gross national product includes only the market values of the final goods, and ignores the transactions of intermediate goods.
4. The calculation of G.N.P. also excludes non-productive transactions, which are pure financial transactions or transfer payments, such as old-age pensions or unemployment assistance, which are in the nature of grants, gifts, transactions relating to existing shares, or second-hand shares.
2. Gross Domestic Product: GDP
While GNP means all that is earned and received by the individuals in weather inside or outside of the territories of the country. GDP focuses all goods and services produced by the nationals within the country.
GNP: Income earned by nationals inside (GDP) + Income Earned by Nationals Outside –Income earned by the foreign nationals inside.

3. Net National Product: (NNP) or National Income at Market Price
Since Gross National Income covers everything which are final goods and services. In above example, the cost of biscuits is includes production, transport and marketing cost which was incurred at various stages from converting it from Wheat to Biscuits. But there is wear and tear also during all these stages. This wear and tear must be reduced from the Gross National products to know what net national product is. NNP is also called National Income at Market price:
NNP or NI (market price) = GNP-depreciation.
4. National Income (NI):
NNP is also called National Income at Market Price. National Income what we normally hear about is National Income at factor Cost.
To understand this concept we have to know first what factor cost is. We take two examples of sugar. We suppose that
1. Sugar is being sold in the market for Rs. 20 per kg. This is sugar’s market cost. When sugar came out of the factory it was charged with Re. 1 excise and Re. 1 Sales tax per kilogram. This means the factors of production of sugar (land, labor and capital) will receive Rs. 18 per kg. So in this case:
Sugar (Factor Cost) = Sugar (Market Price)-Taxes
2. Sugar is being sold in the market for Rs. 20 per kg. However Govt. Provides subsidy to sugar at Rs. 7 per Kg. So the consumer pays Rs. 13 (Market Price) and factors of production will receive Rs. 20 (factor Cost). This means
Sugar (Factor Cost) = Sugar (market price) + subsidies.
Now we come at NNP:
NNP (Factor Cost) =NNP (market price) –taxes+ subsidies.
In other words:
National Income (Factor Cost) = national Income (market price)-taxes + subsidies.
National Income at factor cost is called as National Income.
5. Per-Capita Income:
The percapita income is arrived by dividing the national income by population. Percapita income is measured either at constant prices or on current prices.
6. Personal Income:
National Income is the income of all individuals of the country, however it is not the income received by all individuals. Some part of the national income is actually not received by individual. For example corporate income taxes are a part of national income but they are not received by the individuals. So to arrive at personal income corporate taxes must be subtracted from National Income. Similarly social security contributions, undistributed corporate profits etc. are reduced from the national Income.
Then, there are some incomes received which are not currently earned (e.g., transfer payments, which include old-age pensions, unemployment relief, other relief payments, interest payment on the public debt, etc.)
So we arrive at Personal Income with following formula:
Personal Income = National Income – Social Security Contributions –Corporate Income Taxes – Undistributed Corporate Profits + Transfer Payments

7: Disposable Income DI
The Personal income is the income of an individual. He / she pays personal taxes , property taxes etc. and after that whatever left to him or her is Disposable Income.
Personal Income –Personal taxes =Disposable Income
There is another formula:
Disposable Income = Consumption + saving.
If after paying my personal direct taxes I have Rs. 100, after consumption of Rs. 80 I will have Rs. 20 as my savings.

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LOGOS & TAG LINES OF FAMOUS COMPANIES

TAG LINES OF FAMOUS BRANDS

Taking on the World’s Toughest Energy Challenges (Exxon Mobil)

Human Energy (Chevron Corporation)

Growth is Life (Reliance Industries Limited)

Beyond Petroleum (British Petroleum)

Making Tomorrow Brighter (ONGC)

Bringing Energy to Life (IOCL)

Pure for Sure (BPCL)

10 Years in Formula One. The World is watching us. (Petronas)

Pure bhi. Poora bhi (IBP)

Gas and Beyond (GAIL)

Always Moving Forward (LUKOIL)

Trademark of Energy (Total)

High Performance Petrol (Hint: Brand of BPCL) (SPEED)

100 % Performance. Everytime. (Brand of IOCL) (SERVO)

Like. No. Other. - SONY

Everyone's Invited or Its hard to Imagine - SAMSUNG

Life's Good - LG

The Indian Multinational - VIDEOCON

Born in Japan Entertaining The World - SANSUI

Inspired Living - HAIER

Sense and Simplicity - PHILLIPS

The Perfect Experience - JVC

Choose Freedom - TOSHIBA

Always low prices. Always. - WALMART

Like no other store in the world - BLOOMINGDALES

You can do it. We can Help. - HOME DEPOT

Every Little Helps - TESCO

The spirit of Commerce - METRO

Costs less to get more - KROGER

Is se sasta aur Achcha kahee nahee milenga - BIG BAZAAR

The stuff of life. - KMART

Shop. Eat. Celebrate - CENTRAL

Have You Met Life Today - Metropolitan Life Insurance Company or Metlife.

The Power on your side - Allianz Group

Growing and Protecting your wealth - Prudential Insurance Company

We know Money - AIG or American International Group Insurance Company

Trust thy name is ------- (The fill in the blank itself is the name of the organization) - LIC

Be Life Confident - AXA UK

You are in good hands - Allstate Insurance Company

Your Partner for life - Max NewYork Life Insurance

Positively Different. - Standard Insurance Company Limited.

India's International Bank -- Bank of Baroda

Good People to Bank with -- Union Bank of India

Higher Standards -- Bank of America

You and Us -- UBS

The Citi Never Sleeps -- CITIGROUP or CITIBANK

Where Vision Gets Built -- Lehman Brothers

The World's Local Bank -- HSBC

A Passion to Perform -- Deutsche Bank

Making More Possible -- ABN AMRO Bank

The Magazine of the Corporate World - BUSINESS INDIA

For Managing Tomorrow - BUSINESS TODAY

Intelligent Computing - CHIP

Your Technology Navigator - DIGIT

Play the Game - BUSINESS WORLD

Journalism of Courage - The Indian EXPRESS

The Power of Knowledge - THE ECONOMIC TIMES

The Name India trusts for News - HINDUSTAN TIMES

Read a Bestseller everyday - THE DAILY TELEGRAPH

Make Every Day Exciting - (FORD MOTOR)

Keep Discovering – (EMIRATES AIR)

Hum Hain Na !!! – (ICICI BANK)

SURPRISINGLY – (SBI)

Shop. Eat. Celebrate. – (CENTRAL MALL)

Gain from our Perspective – (FRANKLIN TEMPLETON INVESTMENTS)

New you can Use. – (NDTV Profit)

All you Desire. – (TOYOTA INNOVA)

We know your game – (STAR SPORTS)

Life is our Life's work - PFIZER

Because Health Matters - SANOFI AVENTIS

Today's medicines finance tomorrow's miracles - GLAXO SMITHKLINE

Where Patients come first - MERCK

Extending and enhancing human life - BRISTOL MYERS SQUIBB

Life Inspiring Ideas - ASTRAZENECA

Life. Research. Hope - DR. REDDY'S LABORATORIES

The difference lies in our DNA - BIOCON

Caring for life - CIPLA

The Edge is Efficiency - (Bombay Stock Exchange )

The world puts its stock in us - NYSE (New York Stock Exchange)

Stock market for the digital world (NASDAQ)

The Index Company (FTSE)

It's Your Hollywood (Hollywood Stock Exchange)

Tomorrow Market's Today. (Singapore Stock Exchange, SGX)

The World's Center for Non Ferrous Metal Trading (London Metal Exchange)

Equities. Options. ETFs. (AMEX)

Go for Growth (EURONEXT)

God's Own Country (Kerala)

365 days on a holiday (Goa)

The Kohinoor of India (AP)

The Very Heart of India (MP)

Full of Surprises (Chattisgarh)

Simply Colorful (Rajasthan)

The Perfect Host (Himachal Pradesh)

Amazing Heritage, Grand Experience (UP)

Complete Destination (West Bengal)