The Asian Chronicle 11.10.2020

SUNDAY 11 October, 2020 Pages 08, Faridabad Delhi (NCR)

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GOVT ENDS MONOPOLY OVER COAL; OPENS MINING SECTOR TO PRIVATE PLAYERS

11 October, 2020 Faridabad/Delhi NCR THEASIANCHRONICLE.COM

India's already-high inflation likely nation

2

climbed further in September: Reuters poll

Persistent high prices have hurt the recession-stricken economy, which contracted a record 23.9% in April-June despite the Reserve Bank of India cutting its key repo rate by a cumulative 115 basis points since the pandemic started.

The Reuters poll found that Retail inflation in India rose further above the central bank's mediumterm target last month, as food prices climbed due to lingering supply disruptions, reducing the chances of another interest rate cut.

Since the beginning of the pandemic, the Reserve Bank of India had cut its key repo rate by a cumulative 115 basis points. Persistent high prices have hurt the recession-stricken economy, which contracted a record 23.9% in AprilJune.

Although the government has eased some lockdown restrictions to help the economy, supply chain disruptions have shown little sign of abating as the virus continues to spread rapidly in India.

The Oct. 6-8 Reuters poll of 47 economists suggested consumer prices rose 6.88% last month from a year ago, its highest in five months and faster than Augusts’ 6.69% rate. If realized, inflation would be above the top end of the RBI's medium-term target range of 2%-6% for the sixth consecutive

month.

Acceleration in food inflation and ongoing virus-related supply dis-

ruptions has kept headline CPI inflation higher than we had anticipated. Still, price pressures should

ease soon," said Shilan Shah, senior India economist at Capital Economics.

The rainfall which was above average is a critical determinant in farming. In the coming months, the rain is likely to help to reduce the food-price pressure. Inflation, running above target is expected to keep the RBI on the sidelines for the rest of this year. After delaying the latest policy-setting meeting, which was scheduled to conclude on Friday, the Indian government appointed three new external members to the Monetary Policy Committee on Monday.

"We expect the RBI to remain cognizant of the price pressures but maintain their accommodative stance, especially as it is food-led.

Rate cuts will be delayed but not denied," said Rini Sen, Indian economist at Australia and New Zealand (ANZ) Banking Group Limited As infrastructure output, which accounts for about 40% of total industrial production, lessened by 8.5%, the industrial output fell for the sixth month in a row in August, with a 7.5% decline, its longest falling streak since June 2009.

India's already-high inflation likely Infosys to take over US-based Blue Acorn iCi for almost $125M climbed further in September

Ria Syal

On Thursday, IT services and consulting company Infosys announced it had signed an agreement to acquire Blue Acorn iCi for up to USD 125 million (approximately Rs 915 crore).

Blue Acorn iCi is a provider of digital client experience, commerce, and analytics services.

“The move further strengthens Infosys’ end-to-end customer experience offerings and demonstrates its continued commitment to helping clients navigate their digital transformation journey,” the organization stated in a statement.

“Together with Infosys’ earlier acquisition of WONGDOODY that offers creative and marketing services, BlueAcorniCi brings complementary capabilities to help global CMOs and businesses thrive in a digital commerce world. This acquisition further

deepens Infosys’ capabilities in the Adobe, Magento, Salesforce Commerce, and Shopify ecosystems,” stated the release.

Under normal closing terms, the transaction costs are projected to close during the third quarter of FY 2021– is “up to USD 125 million including management incentives and bonuses”, Infosys stated in a regulatory filing. Infosys Nova Holdings, LLC, a privately held company of Infosys Ltd, is undertaking the acquisition.

Addressing the deal, Infosys President Ravi Kumar S said, “We are focused on partnering with global brands and CMOs to help them navigate their digital experience and commerce challenges. The Blue Acorn iCi acquisition is another important milestone in Infosys’ journey to build capabilities relevant to the digital priorities of our clients and reaffirms our commitment to the Adobe ecosystem.”

Chris Guerra, Co-CEO of Blue Acorn iCi, told, “by becoming a part of the Infosys family, Blue Acorn iCi will be able to better serve our clients and their customers as we elevate our scale, technical acumen, global reach, creative capabilities & consumer insight expertise.”

“Together, we will be able to offer unrivaled services and insights to help companies become the new leaders of digital experience & commerce,” he stated.

Blue Acorn ICI advised Investment Bank CG PetskyPrunier, part of Canaccord Genuity, on the trade.

Subject to customary closing conditions, the transaction is scheduled to close during the third quarter of fiscal 2021.

In the United States and other countries, Adobe and the Adobe logo are registered trademarks or trademarks of Adobe.

Persistent high prices have hurt the recession-stricken economy, which contracted a record 23.9% in April-June despite the Reserve Bank of India cutting its key repo rate by a cumulative 115 basis points since the pandemic started.

The Reuters poll found that Retail inflation in India rose further above the central bank's medium-term target last month, as food prices climbed due to lingering supply disruptions, reducing the chances of another interest rate cut.

Since the beginning of the pandemic, the Reserve Bank of India had cut its key repo rate by a cumulative 115 basis points. Persistent high prices have hurt the recession-stricken economy, which contracted a record 23.9% in April-June.

Although the government has eased some lockdown restrictions to help the economy, supply chain disruptions have shown little sign of abating as the virus continues to spread rapidly in India.

The Oct. 6-8 Reuters poll of 47 economists suggested consumer prices rose 6.88% last month from a year ago, its highest in five months and faster than Augusts’ 6.69% rate. If realized, inflation would be above the top end of the RBI's medium-term target range of 2%6% for the sixth consecutive month.

Acceleration in food inflation and ongoing virus-related supply disruptions has kept headline CPI inflation higher than we had anticipated. Still, price pressures should ease soon," said Shilan Shah, senior India economist at Capital Economics.

The rainfall which was above average is a critical determinant in farming. In the coming months, the rain is likely to help to reduce the food-price pressure.

Inflation, running above target is expected to keep the RBI on the sidelines for the rest of this year. After delaying the latest policy-setting meeting, which was scheduled to conclude on Friday, the Indian government appointed three new external members to the Monetary Policy Committee on Monday.

"We expect the RBI to remain cognizant of the price pressures but maintain their accommodative stance, especially as it is food-led. Rate cuts will be delayed but not denied," said Rini Sen, Indian economist at Australia and New Zealand (ANZ) Banking Group Limited As infrastructure output, which accounts for about 40% of total industrial production, lessened by 8.5%, the industrial output fell for the sixth month in a row in August, with a 7.5% decline, its longest falling streak since June 2009.

11 October, 2020 Faridabad/Delhi NCR THEASIANCHRONICLE.COM

cover story

3

GOVT ENDS MONOPOLY OVER COAL; OPENS MINING SECTOR TO PRIVATE PLAYERS availability of rail rakes, which are given on priority to the power sector, leaving these producers with no choice. Hence, the thrust on geographical closeness of bauxite with coal mine.

Responding to the announcements, the BMS said corporatisation and public private partnership (PPP) are routes to privatisation and "foreignisation".“It shows that the government has dearth of ideas on economic revival in times of crisis,” the RSS-backed organisation added.

The BMS strongly objects to the announcements on the corporatisation and privatisation in eight sectors, the trade union said in a statement.For employees, privatisation means massive job loss, below quality jobs will be generated, profitisation and exploitation will be the rule, the BMS said.

The Union minister announced the easing of limits on foreign direct investment in defence manufacturing, privatisation of six airports, opening up of more air space and allowing private sector in commercial coal mining

Nishica Choudhary

Objecting to the fourth tranche of the economic package announced

by Finance Minister Nirmala Sitharaman on Saturday, RSS-affiliate BharatiyaMazdoor Sangh said the government is moving in the "wrong direction" and has "dearth of ideas".

The Union minister on Saturday announced the easing of limits on foreign direct investment in defence manufacturing, privatisation of six airports, opening up of more air space and allowing private sector in commercial coal mining.

She made these announcements while sharing details of the fourth tranche of the Rs 20 lakh crore economic package in the wake of the coronavirus crisis.

Announcing the launch of auction, Prime Minister Narendra Modi said that “mineral rich areas have not prospered as they should have been” and that “reforms and investment in coal sector will bring in ease of living in the remote corners”. Assuring that the country’s commitment to the environment will not be compromised, Modi said that “the government targets to

PRIVATISATION OF COAL SECTOR WILL TRANSFORM INDIA’S GROWTH TRAJECTORY- writes Amitabh Kant

gasify 100 million tonne of coal by 2030 and I have been told that projects have been identified for this purpose where Rs 20,000 crore will be invested”.

The Union government has opened up the mining sector in a big push for privatisation. Though noncoal minerals were available to the private sector, including foreign players, for bidding, private companies could take up coal blocks only if they had defined downstream projects where the mined coal could be used.

Besides, the government decision to introduce joint auction of bauxite and coal mineral blocks to enhance the aluminium industry’s competitiveness by lowering electricity costs would reduce dependence on imported coal.

Non-ferrous companies such as Hindalco Industries and Vedanta have had to buy coal at a premium in auctions to have uninterrupted supply for their smelters. However, even now, when there is surplus availability of coal, these firms rely on imported coal because of non-

m Commercial mining licences with regulatory oversight and monitoring will facilitate employment opportunities for tribal communities and local populations. m The revenues of states are bound to receive a substantial jump when commercial mining starts in those states. m Mining is a labour-intensive sector, which would mean that such mines will employ thousands of people, their families will live close by, and a supporting coal transport infrastructure will need to be developed, including rail junctions m Entry of private sector in the coal sector has immense forward and backward linkages. The backward linkage of transportation and phys-

ical infrastructure is bound to create clusters of growth. m The entry of the latest global mining technology, management and competition is bound to revamp the sector from inside. Just like our public sector banks benefitted from the entry of private banks, Coal India Limited will also gain from the spill-over effect in the industry.

It said the government was shying away from consultation with trade unions, social representatives and stakeholders, which is highly condemnable.“Without any social dialogue, the government is bringing gross changes and is moving in the wrong direction. Social dialogue is fundamental to democracy,” the BMS said.However, the BMS was positive about the first three tranche of the package announced by the finance minister.

The socio-economic benefits of opening the coal sector for commercial mining are enormous. The impact on employment generation, infrastructure development, multiplier impact on other sectors, cluster development, and import bill reduction will go a long way in transforming India’s growth trajectory.

This move will revitalise the coal sector in the same way as the entry of private players changed the face of Indian banking.

The government also plans to remove the distinction between captive and non-captive mines to allow transfer of leases and sale of surplus unused minerals, leading to better efficiency in mining and production, said Finance Minister Nirmala Sitharaman during her address on Saturday. The ministry of mines is in the process of developing a Mineral Index. The Union government also plans to rationalise stamp duty payable at the time of award of mining leases.

Economy showing convincing return to growth

New Delhi: Braving the unprecedented global health crisis, the Indian economy has shown a remarkable resilience in the last few months.

Lead indicators such as manufacturing PMI, exports, rail freight and energy consumption are returning to a clear growth trajectory with firm signals of further improvement, a latest ASSOCHAM Assessment on State of Economy (AASE) pointed out.

“Be it India’s Purchasing Managers’ Index (PMI - Manufacturing) or PMI for Services, robust recovery is visible. The PMI for Manufacturing expanded to 56.8 in September 2020, the highest since January 2012. The PMI for Services expanded for the fifth straight month in September to 49.8 from 41.8 in August. In other words, according to the outlook measured by the best-tracked global gauge, about 57 per cent of purchase managers for manu-

facturing and about 50 per cent for services expect the two vital pillars of the economy to expand,” AASE noted.

Agriculture, the third and the most crucial pillar of the economy, had kept the banner high, ensuring that the country had enough food security to feed its 1.3 billion people. The latest trade data shows how rice exports jumped by a massive 92 per cent in September. “We not only ensured food security for ourselves but are also emerging as major food suppliers to the world. A similar trend in exports of drugs and pharmaceuticals was observed, with the sector showing over 24 per cent growth in September exports.”

Likewise, the chamber’s assessment pointed towards a further pick up in the coming months.

“As a nation, we are giving a solid fight to

Covid-19 pandemic. With the unlocking of the economy almost complete, people are returning to work, wearing masks and maintaining social distancing. However, a continuous campaign by the Centre, states and the local Governments would be required to reinforce these habits further,” ASSOCHAM secretary general, Mr Deepak Sood said.

He also stated that undaunted by the health emergency, the Government under the leadership of Prime Minister Narendra Modi, has pressed the accelerator for reforms in labour laws, agriculture, defence production and incentives to domestic manufacturing.

Collection for the Goods and Services Tax (GST) at Rs 95,500 crore for September showed year-on-year improvement of four per cent, reversing from a negative trend for the previous six months. As more and more serv-

ices reopen and the consumers learn more about dealing with the pandemic, the GST collections are expected to pick up further.

The rail freight, yet another critical indicator, showed a 15 per cent growth YoY in September. Similarly, annualised power consumption was up 4.6 per cent for the month at 113.5 billion units. Exports too have returned to the positive territory, logging in 5.27 per cent annualised growth at USD 27.4 billion for September.

“As we have been pointing out, there would be a marked improvement in the third and fourth quarter. With the festival season kicking in, the consumer spending has started showing positive signals. A cautious optimism should soon replace the entire cash conservation mindset,” Mr Sood said, adding once the vaccine is in place, the optimism would be pronounced.

11 October, 2020 Faridabad/Delhi NCR THEASIANCHRONICLE.COM

health

Three Major Tags for a Healthy Lifestyle

Ann Mary Philip

Food, Exercise, Sleep backward. m Squeeze in five squats, three times a day, or ten push-ups – five times a day.

This is elementary and doable. We could engage in bodyweight workouts, yoga, dancing or Zumba sessions as well.

Key benefits associated with a good diet and proper exercise

Some of the diseases that a good diet and regular exercise can prevent include: Heart disease, High blood pressure, High cholesterol, Diabetes, Stroke, Depression, Several types of cancer and Arthritis

Mood and Energy

Both diet and exercise, especially the latter, can have a very big influence on your mood. Chemicals in the brain called “endorphins” make you feel happy and positive, and these are triggered by most forms of exercise.Both help reduce stress and can increase brain activity.

Weight

Being healthy is at the top of everyone’s priority list because it can help a person have a hale heart, brawny muscles, burly bones, a sense of well-being and a better social life.Our daily practices decide how healthy we are. The ways and means we take to our health can often make a difference between being fit and frail.Two areas we have the most control over are our diet and exercise. A good night’s sleep is awfully important for your health.It’s just as important as eating right and exercising.

A well-balanced diet

Eating a well-balanced diet can help us get the calories and nutrients we need to feed our daily activities. Dietary needs differ for every person, but in general, some of the best foods we should regularly eat include:

Fruits and vegetables Protein Whole grains Nuts and legumes

Try balancing items like dairy and oils, along with meats and poultry. Avoid sweets, overly salty foods, trans fat-heavy foods and overuse of alcohol. Pay attention to calorie count, which will vary based on the size, age and gender.Too many of the wrong foods can put us at risk, but the right foods complemented by appropriate exercise can actually boost our body’s ability to fight disease.

Importance of state of mind in the current scenario and its impact on our physical health.

Mind and body are connected and constantly communicate with each other. Every

thought that crosses our mind, affects our body and vice versa. So, while a negative thought (like exam stress) can arouse an unfavourable output in the body (bloating), a positive thought can elicit a favourable output in the body (regular bowels).

Indian Superfoods rich in Immunity-boosting

Turmeric and black pepper- A powerful anti-inflammatory combination that boosts brain health, immunity, and anti-cancer.

Amla - One of the richest courses of vitamin C, gooseberry or amla has always been a part of our diet in the form of pickles, chutneys, jam.

Garlic and Onion- Powerful immunity boosters that also work as prebiotic and help in feeding the good gut bacteria. They are rich in sulphur, necessary for a variety of functions in the body, right from hormonal health to detoxification.

How often one should exercise considering the reduce in the regular physical activity?

It’s not just about the workout, it’s about overall movement. Our body needs movement every single day, so even if one isn’t working out daily, movement in any form is important.Here are a few ways to fit in small bursts of movement all throughout the day: m Take a walk for 10-15 minutes, post meals walk for 30 minutes. m Take calls while walking m Sweeping, cleaning, mopping, dusting, washing dishes are great ways to fit in movement. m After every one hour, get up and touch your feet, bend your back – forward and

Weight is one of the key factors involved in heart disease, high cholesterol or blood pressure and several other conditions and the factors that influence weight are diet and exercise.

Due to the lockdown, many have developed an irregular sleep pattern

Most of us have stayed up late at least one or two occasions when we knew we could sleep in the next morning. It would also encompass late night snacking and screen time. This used to be a special treatreserved to weekends and holidays. However, recent times have changed that, as many people

4

find themselves staying at home with little to no work for several days, weeks or even months.

One of the major reasons why people have developed an erratic schedule in this lockdown is the lack in discipline around eating, workout, pooping and sleeping times. There is a biological clock that nature has designed and every single function in our body including the process of sleep works accordingly, provided all the other functions are also in sync with it.

Importance of sleep for a healthy life

A sleep routine is necessary to disconnect ourselves from the day time chaos. It is super important for overall health and wellbeing. It’s as important as good food, fresh air, sunshine, exercise, and managing your stress levels. When we sleep, our hormones balance, the brain detoxifies, the body heals, rejuvenates, muscles repair and grow, the body detoxifies. m Sleep fuels our immunity. During sleep, we produce melatonin, a powerful anti-cancer hormone. m Sleep also determines the levels of your hunger and satiety hormone which in turn also determines your weight.

Sleep issues are a concern for millions of people around the globe, and diet and exercise can influence your sleep habits. Exercise, in particular, can directly impact your ability to fall asleep and stay asleep.It’s recommended that one should not exercise heavily or eat right before bedtime, but proper habits in both areas can turn restless nights into comfortable ones.

life style

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11 October, 2020 Faridabad/Delhi NCR THEASIANCHRONICLE.COM

Vegetables and fruits are the best medicines Nishica Choudhary Many special foods were known and treasured due to their use in treating or preventing disease and the knowledge of these special foods was carefully passed down the generations. Cultural practices relating to food as medicine across the globe are steeped in history, complex belief and value systems.

The modern era of evidence based practice and the globalised world we live and operate within, presents an interesting time as we begin to investigate and research some of these long held beliefs and practices in an attempt to gather evidence and strengthen our understanding of the role of food as medicine.

We are moving towards gathering facts to support useful practices as well as understanding and respecting the belief systems that led to some medicinal traditions even if nowadays their scientific basis has not been substantiated.

Plant foods as medicines

Across history, many fruits and vegetables and other plant foods have been used, recommended and/or avoided for their supposed medicinal properties.

Often particular fruits and vegetables were considered to have particular special properties. For example, people were encouraged to avoid eating too many cucumbers and melons as these are very watery foods and so it was thought that they would encourage fluid retention.

Fruits such as figs, pomegranates and quinces were often considered be very beneficial to health but if you did not live around the Mediterranean region, these were accessible only to the wealthy. Okra, a green, finger shaped vegetable common in Indian cooking, was believed to be effective for assisting with managing diabetes as was bitter melon among Chinese people.

The United States Department of Agricul-

is helpful to maintain colon health, among other things. Apples also contain anti-allergy compounds.

Grapes: Grapes are vitamin powerhouses that contain vitamins A, C, and B6.

Spinach: Spinach also boasts a great deal of antioxidants, which can help reduce the risk of chronic disease.

Papaya: Eating some of the tropical fruit has been linked to relieving gas from indigestion. On top of that, it also contains few calories but a ton of vitamin C.

Bananas: their famed levels of potassium are great for staving off muscle cramps.

ture suggests men and women should eat about two cups of fruit each day. This can mean two cups of regular fruit or 100% fruit juice, or one cup of dried fruit for your daily intake. You can eat any fruit you like to make the government (and your doctor) happy, but some fruits provide better perks than others. In addition, eating the whole fruit is often a better option than picking up a bottle of orange juice or juicing at home.

You still get the same vitamins and minerals, but just drinking fruit juice doesn’t provide the fiber you need, and juice absorbed without that fiber can cause a spike in your blood sugar levels. According to the Harvard Gazette, eating more whole fruits can lower your risk of type-2 diabetes.

BENEFITS

mA diet rich in vegetables and fruits can lower blood pressure, reduce the risk of heart disease and stroke, prevent some types of cancer, lower risk of eye and digestive problems, and have a positive effect upon

blood sugar, which can help keep appetite in check. mEating non-starchy vegetables and fruits like apples, pears, and green leafy vegetables may even promote weight loss. Their low glycemic loads prevent blood sugar spikes that can increase hunger. mThe higher the average daily intake of fruits and vegetables, the lower the chances of developing cardiovascular disease. mNumerous early studies revealed what appeared to be a strong link between eating fruits and vegetables and protection against cancer. mEating fruits and vegetables can also keep your eyes healthy, and may help prevent two common aging-related eye diseases— cataracts and macular degeneration—which afflict millions of Americans over age 65.

8 Fruits and Vegetables That Can Help Prevent Diseases

Apples: Each medium-size apple is packed with 17% of the fiber we need each day and

Carrots: They contain beta-carotene, an antioxidant that gives carrots their vibrant orange color and could help in cancer prevention

Broccoli:A 2010 animal study found that consuming broccoli sprouts could protect the heart from disease-causing oxidative stress by significantly lowering levels of oxidants

Garlic: Several studies have shown that garlic can regulate blood sugar as well as promote heart health.

CONCLUSION

“We all know that eating fruit and vegetables is healthy, but the size of the effect is staggering,” said Dr. OyinlolaOyebode of UCL’s Department of Epidemiology & Public Health, lead author of the study. “The clear message here is that the more fruit and vegetables you eat, the less likely you are to die at any age. Vegetables have a larger effect than fruit, but fruit still makes a real difference. If you’re happy to snack on carrots or other vegetables, then that is a great choice but if you fancy something sweeter, a banana or any fruit will also do you good.”

11 October, 2020 Faridabad/Delhi NCR THEASIANCHRONICLE.COM

news

Wall street to trade water as a crude commodity

CME, NASDAQ to launch futures contract

Climate advocates have warned in recent years of the impending danger of water wars as competition increases between needs from agriculture, energy and growing cities.

Foodproduction especially might become vulnerable as drought will make it increasingly difficult to grow crops in many parts of the planet. Farmers balance water and land needs while protecting forests in places like the Amazon.

“Food will tend to be a flash point with the world going forward as global climate change will make production tougher,” said Carter Roberts, Chief military officer of World Wildlife Fund, in an interview at the Bloomberg Green Festival.

CME’s contract, tied to the $1.1 billion California water market, will launch late this year, pending regulatory review, and is supported by the Nasdaq Veles California Water Index, the bourse revealed.

Water supplies have been constricted for years in California, and enormous parts of Asia and Africa also face the potential of scarcity as temperatures rise. Almost two-thirds of the world’s population is predicted to face water shortages by 2025, according to CME records.

Exchange operators CME Group Inc. and Nasdaq Inc. are gearing to launch a futures contractlater this year. This will allow farmers, speculators et al. to wager the worth of water and hedge it against surging prices, thus acting as a benchmark that signals acute water scarcity within the state and, more widely, across the world.

Alongside other raw materials like petroleum, soybeans and copper, the creators reckon that the market is going to be the first of its kind. Putting water on the board for investors,Nasdaq and London-based Veles launched the index in October 2018. The former, best known for listing tech stocks, had pitched water pricing before, but the latter was the first to supply a knowledge set of actual transactions with volume and history, sufficient for a pricing index.

“What we actually wanted to readily do was, firstly supply clear and transparent rule-based information to the marketplace," said Patrick Wolf, Senior Manager for Nasdaq Global Indexes. He also revealed that the aim was to present a point of reference for buyers and sellers in an otherwise opaque market.

“Water scarcity is certainly one among the most important challenges facing communities and individuals today across the world, where currently about 2 billion people are already living in countries experiencing high water stress," Tim McCourt, the Worldwide Head of Equity Index and Alternative Investment Products at CME, said in

an interview.“You’re just moving dollars so it will be relatively straightforward to trade and to settle,” he added.

Supporting Tim McCourt, Lance Coogan, Chief Executive of Veles Water Ltd., said, “You have the most important commodity in the world and everything else is listed except the water price”.

“Besides allowing farmers, manufacturers and other big water users to protect against price swings, water futures can serve as a riskmanagement tool for other investors,” Mr. Coogan said. He also added that it could be used to leverage its worth against inflation or climate change or simply serve as an asset that is uncorrelated to others.

“It’s really a unique mechanism for investors themselves and California to be able to at the very least understand and potentially hedge the price of the risk of water price volatility," said Carter Malloy, founder and chief executive officer of AcreTrader, a farmland investing platform.“The crucial thing is right now we have very little visibility on what water prices will look like in the future,” he added.

The futures will reflect transactions in the market for water in California, which harbours a huge population and vast agricultural lands as well making it America’s thirstiest state. Water futures contracts will be priced in dollars per acre-foot, which is the volume required to cover an acre a foot deep resulting in about 325,851 gallons.

Last week, an acre-foot of water cost $526.40, according to the Nasdaq Veles California Water Index which is a 25% decline since the start of summer whereas a historically dry California made prices triple in spring.The prices are derived from prior-week purchases in markets for California surface water and four groundwater basins in the state.

Layering futures trading on top of the index was the next step. Trading will be hosted by CME, which makes options and derivatives markets in assets ranging from stocks to livestock, lumber and cheese.Water futures will be available for trading up to two years out over 10 monthly contracts: one every three months along with the two most immediate nonquarterly months. Each contract will stand for 10 acre-feet of water.

Unlike in markets for many commodities, buyers won’t have to find someplace to put 3.3 million gallons of water if they hold an expiring water futures contract. Whereas a buyer of a West Texas Intermediate crude future in the same situation must take delivery of 1,000 barrels of crude at a pipeline junction in Cushing, Okla. Water wagers are purely financial and squared up with cash.Had there been water futures, a farmer who bought summer-dated futures at the prevailing price months earlier could have pocketed big profits when drought hit and prices soared. Those gains could then be used to offset the higher cost of buying actual water.

New Delhi: Abdullah, chairman of the High Council for National Reconciliation in Afghanistan, met Prime Minister Narendra Modi at his official residence to brief him on the peace process and the talks currently being held by the Afghan government and the Taliban at Doha in Qatar. PM assured him of India’s continued support for the peace process.

Before arriving in India, Abdullah said in a statement that India is a “strategic partner of Afghanistan”.

He added “the role of India in establishing a lasting peace in Afghanistan and the region is vital”, and that he would discuss the need for regional consensus and support for the Afghan peace process with the Indian leadership.

“Pleased to meet HE Narendra Modi @narendramodi, the Prime Minister of Republic of #India. In our friendly discussion we took stock of the latest developments on the #AfghanPeaceProcess, the talks in Doha, & India’s support for the peace efforts,” Abdullah tweeted.

“HE PM assured me of India’s continued support for the peace process, & Afghanistan. I thanked him & the people of India for the in-

vitation, & generous hospitality. I also thanked India for its principled position on the #AfghanPeaceProcess,” he added in another tweet.

Abdullah met National Security Advisor (NSA) AjitDoval on Wednesday. The talks between Doval and Abdullah were "constructive" and the Indian NSA assured him of that New Delhi is in favour of a "democratic and sovereign Afghanistan, where no terrorists can operate".Doval also hosted a dinner for Abdullah’s delegation that was attended by Foreign Secretary Harsh Shringla, Chief of Defence Staff General Bipin Rawat, Army Chief General Manoj MukundNaravane, senior officials of the External Affairs Ministry and key members of the High Council for National Reconciliation.

Notably, Abdullah is visiting India at a time when peace talks between the Afghan government and the Taliban in Doha are going on.He arrived in India on October 6 on a five-day visit in an attempt to build a regional consensus and support for the Afghan peace process, the negotiations in Doha. He travelled to New Delhi after a three-day visit to Islamabad last week.

In Islamabad, he had met Prime Minister Imran Khan, foreign minister Shah Mahmood Qureshi and army chief Gen Qamar Bajwa. Abdullah told the Pakistani leadership that a message about reducing violence and showing greater flexibility in negotiations should be communicated to the Taliban leadership participating in the negotiations in Doha.

He is also scheduled to deliver a speech at the Institute of Defence Studies and Analyses (IDSA) and hold talks with external affairs minister S Jaishankar on Friday.Last month, another influential Afghan leader Marshal Abdul Rashid Dostum had visited India.

India has been a major stakeholder in peace and stability of Afghanistan. It has already invested USD two billion in aid and reconstruction activities in the country.India has been supporting a national peace and reconciliation process which is Afghan-led, Afghan-owned and Afghan-controlled.

On September 12, an Indian delegation attended the inaugural ceremony of the intra-Afghan negotiations in Doha while Jais-

hankar joined it through video conference.

India has been keenly following the evolving political situation after the US signed a peace deal with the Taliban in February. The deal provided for the withdrawal of American troops from Afghanistan, effectively drawing curtains to Washington's 18-year war in the country.The US has lost over 2,400 soldiers in Afghanistan since late 2001.

Indiahas expressed concern at a recent spike in violence by the Taliban and terror attacks on minorities such as Sikhs. It has said that intraAfghan negotiations must ensure the interests of minorities, women and vulnerable sections of society and reduce violence across Afghanistan and its neighbourhood for a prosperous and safe future.

India has always been advocating for the political establishment of Afghanistan to unite together and work for the betterment of the country and its people.India has also been maintaining that care should be taken to ensure that any such process does not lead to any "ungoverned spaces" where terrorists and their proxies can relocate.

Sajeeda Feroz

Afghanistan's Chief Peace Negotiator Abdullah Abdullah met PM Modi

6 Rahul Gandhi takes a jibe at PM Modi, BJP hits back

Shubh Mathur Hours after Rahul Gandhi tweeted with a video of the Prime Minister’s conversation with a CEO of a wind energy company, BJP ministers slashed back with an array of tweets.

In the video, the PM is suggesting that the wind turbines can be utilized to produce clean drinking water, energy as well as oxygen. Mr Gandhi reacted“The real danger to India isn’t that our PM doesn’t understand. It’s the fact that nobody around him has the guts to tell him.”

Hitting back at Rahul, Piyush goyal said, “Nobody around Rahul Gandhi has the guts to tell him that he doesn’t understand. He mocks PM Narendra Modi’s ideas when the CEO of the world’s leading company endorses them.” He also attached a CNN report that claims wind turbines create water from the air.

Sambit Patra, the BJP spokesperson, followed the union minister in his quirky style, saying, “Rahul Ji tomorrow morning please get up at night and read the two scientific papers that I have attached herewith. Though I’m sure you won’t understand the complexity of the subject…”

He also tagged a news report that said wind turbines make 1000 litres of clean water in deserts.

BJP’s head of social media cell, Amit Malviya, also slashed Gandhi. He tweeted, “Entitled brat Rahul thinks everyone around the world is as clueless as he is... He mocks PM's ideas when CEO of world's leading wind energy company terms them inspirational! Watch the last bit of the video he himself has posted..”

Union Minister Smriti Irani who is known to have often locked horns with Rahul Gandhi tweeted in response, “They say ignorance is bliss, but rarely in Indian politics has an individual made a conscious effort to sustain his ignorance. It seems the real danger to the Congress flourishes unabashedly and no one seems to have the guts to tell the Yuvraj otherwise.”

Rahul Gandhi has criticized the government on many fronts-from economy to agriculture.

Contact for Advt. & News 9212 46 0446

11 October, 2020 Faridabad/Delhi NCR THEASIANCHRONICLE.COM

interview

7

A short laconic interaction of Ashu Bidhuri

The Recent Barbaric and heinous rape case of Uttar Pradesh shocked the nation. It once again tattered our law and order system prevalent in our country. As I sat down with Aam Adami Party senior leader and member of Delhi School Management Committee , Honourable 'Ashu Bidhuri' . We discussed about the efforts taken by his politics party to safeguard women safety in the capital and how his government is doing to tackle barbaric crime against women. Also ,he shared his views on Recent education insurgencies deployed by Deputy CM Manish Sishoidia in the capital Delhi. Here are few glimpses of the interview conducted :

By Bhavna Singh Ashu Bidhuri although I am quite familiar with you and your astounding social initiatives but I want you to introduce yourself to our Asian Chronicle Readers.

My name is Ashu Bidhuri and I am a student at Arvind Kejriwal School of Activism and i am learning since 2014, firstly as a student activist and then through various other responsibilities. At present I am Member at Delhi Minorities Commission and also Member at School Management Committee under education department , Delhi government. I am also serving various political responsibilities given to me by party( AAP) time to time. Thus ensuring everyone gets fair rights, treatments, facilities and schemes of the AAP government across India .

The recent hathras rape case in which the victim , a 19yr old Dalit girl succumbed to death and was cremated hushly over night has raised many questions across the nation? When are we planning to ensure that our Daughters are safe across the country!

Hathras case is very unfortunate ,heart wrenching and painful for all of us as it shows how system failed to perform its duties and not only this it shows how system concealed the truth to save guard particular people even though they are criminals ( Rapists) . This case also shows how our daughters are subjected to dangerous and brutal scenarios each and every time.

Why Delhi is still unable to shed it's dubious tag of "Rape capital of India ".

How your Aam Aadmi party led Delhi government has still drastically failed to

tackle women's safety. Please Elucidate.

As you know delhi is not a full state, its a union territory there are multiple governments here (Union govt., state govt., MCD) and security comes under Union government Subject , but still we are relentlessly working for women safety in Delhi and we have taken various steps to ensure it like CCTV cameras in every street, road light at dark spots, Marshals in DTC buses and even Delhi commission for women is working very tremendously well for women rights. We are now coming with a plan of Mohalla Mashals.

Being closely associated with Delhi Commission of women and working with Swati Maliwal ( Chairperson of Delhi Commission of women), how DCW has addressed women's safety?

I am very fortunate enough to have been closely associated with a chance to work with Swati Maliwal mam at DCW, she is very much dedicated and inspiring leader , she is relentlessly focused towards her work and indeed towards her endeavours. she has a very chuffed , suave and a stellar personality too. DCW is now very much prolific among women are taking initiatives to work for society so that people can feel free to come to DCW for their problems. Also the grievance solving mechanism of DCW is very fast,rapid and transparent now. And people have inbuilt lot of Trust , Novelty and integrity in DCW over the past years.

Coming now towards the "Delhi Education system", how much improvement and development have been done

by Delhi Education Ministry from past 5 years?

I suppose Delhi education model is an impeccable epitome for the other states either you talk about infrastructure, Facilities, Management , teachers or happiness curriculum. AAP government has left no stones unturned in achieving the confidence of students and teachers and is undoubtedly working a lot for betterment of education. And this can been seen from results of students in 10th and 12th and also in JEE or medical exams. Being a present member of School Management committee I can bet that we are working with our utmost capacity to improve education in Delhi govt. Schools and will keep on working with more energy.

You have recently been associated with "Delhi School Management Committee", how do you wish to play your role for improving our education system?

I am very much overwhelmed and chuffed with this erudite responsibility and I think it's an opportunity for me to learn about working of a government and administration. It's a matter of suave pride to work and assist Shri Manish Sisodiya ji.

I am working more on schools in tandem in which results of the students are quite satisfactorily, we gave to closely render on these schools so that each and every school can give more than 90% meritori-

it publicy.

First of all I must tell you that it's duty of opposition to stop this naive government from making any policy which is not in public interest. The so called "New education policy" is not giving us any strong roadmap for betterment in our education system and its more of like - 'Brow beating '.

It is full baseless and illogical suggestions and focusing more on privatisation of education. It making education costly and out reach of common man. We were genuinely anticipating more from the "New education policy" but it the end it came out to be of incorrect notion.

Ashu Bidhuri, being a farmer's son how much obstacles you think our nation's farmers are facing after introduction of "Farmers bill 2020" . As the opposition parties are lamenting over it from past few weeks.

Farmers are backbone of our country they grind their blood and sweat day and night even in worst situations and provide us food and raw materials for industry. We should not ignore out or reprimand the role of farmers in the development of our country. Indian Government is withstanding and supporting farmers even it's running out of its duty to buy their produce now, government wants to handover farmers to the private players without the security of MSP ( Minimum support price).

There are many other anti farmers provisions in these bills, these bills are like "slow and sweet poison" not only for farmers but also for the whole country.

At last what will be your advice to the millinenials in a post Covid-19 world?

ous results. Mental and physical health of student should be taken care and all round development of student is must for achieving excellent beneficary results.

What are your thoughts on the recent education policy adopted by center? As it has come under spot light after your political party (AAP) started chastising

Covid is an unprecedented scenario in front of world, whole world is suffering due to this. Collective efforts need to be taken to solve this problem. Economy is down, market is crashing seamlessly and unemployment is on its peak so we need to provide assurance to the youth for future employment and inculcate confidence among our society that "Things will be on track soon " ! and advice to the young readers of the highly coveted "The Asian Chronicle Newspaper" would be that "Work hard in silence, let your success speak for you. Incubate your dreams with your passion and determination , as for those people who are willing to push things harder there will be success, triumphs and achievements"!

11 October, 2020 Faridabad/Delhi NCR THEASIANCHRONICLE.COM

nation

8

Donald Trump Had Enjoined To Stop Negotiations With Democrats On Another Stimulus Over COVID-19 Economically Hit.

US President Donald Trump has instructed his officials to stop negotiating with the Democrats on another stimulus package for the coronavirus-hit US economy until 3rd November; presidential election, alleging that Speaker Nancy Pelosi wasn't giving a good faith in her speech.

Haritha Senthilkumar On Tuesday, a sudden decision was taken by Trump on to pull the plug on the negotiations which is a major blow to millions of Americans still struggling with the consequence from the pandemic that has badly hit the economy and killed over 210,000 people in the country.

"I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill that focuses on hardworking Americans and small business," Trump said in a series of tweets on Tuesday.

As analysts have warned that the recovery of the world's largest economy risks stalling without further aid. And while the US has regained about half the jobs

lost in March and April, more than 10 million people remain unemployed.

"Nancy Pelosi is asking for USD 2.4 trillion to bailout poorly run, high crime Democrat states, money that is in no way related to COVID-19. We made a very generous offer of USD 1.6 trillion and, as usual, she is not negotiating in good faith," the Republican president alleged.

"I am rejecting their request and looking to the future of our country," he said.

Trump said he has asked Senate Majority Leader Mitch McConnell not to curb but to focus entirely on approving his outstanding nominee to the US Supreme Court, Amy Coney Barrett.

"Our economy is doing very well. The Stock Market is at record levels, JOBS and unemployment also coming back in record num-

bers. We are leading the World in Economic Recovery, and THE BEST IS YET TO COME!" Trump said.

In another tweet, he alleged that "crazy" Nancy Pelosi and "the radical Left" Democrats were just play-

ing "games" with the desperately needed workers' stimulus payments.

"They were never in it to help the workers and they never will be!," he alleged.

But Pelosi accused Trump of "putting himself first at

the expense of the country."

"He shows his contempt for science, his disdain for our heroes... and he refuses to put money in workers' pockets, unless his name is printed on the cheque," she added.

"Clearly, the White House is in complete disarray," the top Democrat said.

Trump's move could endanger an economic recovery that for months was driven by the initial USD 2.2 trillion stimulus passed

by Congress in the spring.

Trump's Democratic Party presidential challenger Joe Biden alleged that by stopping the stimulus negotiations, Trump ended the efforts to pass a bipartisan relief that the country desperately needed.

"He ended talks that would get help for our businesses and schools, for families struggling and for those unemployed - that

would have preserved hundreds of thousands of jobs," the former vice president said.

"Make no mistake: if you are out of work, if your business is closed, if your child's school is shut down, if you are seeing layoffs in your community, Donald Trump decided today that none of that - none of it matters to him," Biden alleged.

"There will be no help from Washington for the foreseeable future. Instead, he wants the Senate to use it's time to confirm his Supreme Court Justice nominee before the election in a mad dash to make sure that the court takes away your health care coverage as quickly as possible," Biden said.

Emerging the stalemate in Washington DC on the stimulus, Dow Jones dropped by 375 points.

IIT Kharagpur designs robotic system to identify diseases plaguing plants

The robotic system consists of a tracked vehicle suitable for negotiating rough terrain field, a device mounted on the tracked vehicle capable of holding the camera and pesticide spraying nozzle, a pesticide spraying module, and camera-based vision module.

Rhythima Agrawal

The Indian Institute of Technology (IIT), Kharagpur has designed a robotic system capable of identifying the diseases plaguing plants through camera-captured image analysis.

A spokesperson of the institute said that the robotic system consists of a tracked vehicle suitable for negotiating rough terrain field, a device mounted on the tracked vehicle capable of holding the camera and pesticide spraying nozzle, a pesticide spraying module, and camera-based vision module.

Professor D.K. Pratihar (Dept. of Mechanical Engineering) leading the innovative project, said, "Our device can detect plant diseases using camera and image analysis and can remove it consequently."

He further said this will help the

farmers detect the disease accurately in their plants.

Professor Parihar highlighting the importance of such development said that it would protect the farmers from the health diseases which occur when spraying pesticides manually.

Talking about the potential of such technologies; Prof V K Tewari, the director of the institute and an expert in farm machinery design and precision agriculture said, "The government is giving a major boost to innovative rural livelihood technologies. Such

technologies need to be taken from the lab to the land." A Mumbaibased company has fabricated the device.

The developed robotic system is a battery-driven one and once fully charged; it will be able to perform its duty in the field for about two hours. The robot will be operated remotely using buttons placed on a control panel. Thus, a technician may not be required for operating the robot in the field.

"The serial manipulator will have a dexterous workspace, making it capable of spraying pesticides from the top, bottom and various sides of the plant. Spraying pesticides would otherwise have been difficult through drones," said Professor Alok Kanti Deb, Department of Electrical Engineering.

"We will soon resume the final assembly of the robotic system and field testing as we are recovering from the present COVID-situation.

We have further plans in the future to make this robot intelligent," Prof Pratihar said.

India is moving at an accelerated pace towards digitization automation. The farm sector, which employs about 58 per cent of India's workforce and contributes to about 14 per cent of the current GDP, has adopted technological advancement to warrant uniform progress.

However, farm mechanization in India still has less than 50 per cent penetration.

The system has been designed under the project 'Development of autonomous multipurpose agricultural robotic platform' funded by the Ministry of Electronics and Information Technology. The Centre for Development of Advanced Computing (C-DAC) Kolkata as the nodal implementing institute along with IIT Kharagpur, BAU Ranchi and KCT Coimbatore runs the project.

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