CHENNAI FRIDAY SEPTEMBER 27, 2019 `5.00 PAGES 52 LATE CITY EDITION INDIA SCRAMBLES FOR LPG AS SAUDI DEFERS SUPPLIES Oil firms are scouring the market for LPG deliveries as Saudi Aramco deferred some shipments, Bloomberg has reported 6L tonnes WILL THERE BE A SHORTAGE DURING DIWALI? WHY IMPORTS ARE CRUCIAL FOR INDIA ”We are anticipating higher demand for LPG next month and Saudis have also indicated deferment of the first couple of shipments for October,” Bloomberg quoted Indian Oil Chairman Sanjiv Singh as saying. The three oil marketing companies — IOC, BP, and HP — are working overtime to avoid any shortage during Diwali, which usually sees a spike in demand ■ ■ ■ India gets about half of its requirements from foreign suppliers Earlier this week, Abu Dhabi National Oil Co. filled the gap for Aramco, offering two additional shipments of LPG to India “We are not seeing any crisis, but just taking extra precaution for festivals,” Bloomberg quoted Singh as saying SAUDI EXPORTS COULD BE HIT DURING THE OUTAGE THAT MAY LAST 3 WEEKS CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Spend like crazy just to be afloat, suggest experts AUTONOMY Council call today as IITs want flat `6L fee for UG, PG S U M I S U K A N YA D U T TA Global recession could be at our doorstep as early as next year, warns UNCTAD’s report There may not be an easy way out, according to JNU professor Biswajit Dhar who pointINDIA may have to throw its ed out that India was already fiscal deficit targets to the suffering from low domestic winds and start spending as if demand. “One possibility was there’s no ceiling, if it has to to ramp up exports to increase keep the economy going strong overall growth, but a global as the onset of a global reces- slowdown rules that out.” sion may be felt as earSpending is key says , ly as next year. Rao. “We need to spend “Our economy will our way out of trouble continue to grow at 5.5as we have to bolster 6%. But if the global domestic demand — economic slowdown that’s the only way out. deepens, then we will Fiscal deficit targets be under pressure to remay need to be relaxed lax our fiscal targets and far more money Stimulus and go back to the should be spent on indose drawing board with frastructure projects.” UNCTAD’s Trade our revival plans,” says India has cut key in& Development M Govinda Rao, former terest rates and corpoReport 2019 member, PM’s Economrate taxes, rolled back says the way ic Advisory Council. super-tax on foreign out will involve UNCTAD in a report portfolio investors and fiscal stimulus, released on Wednesday announced some conpublic warned that the global cessions for various investment in economy may slip into sectors such as autoinfrastructure recession next year givmobiles and realty The . and green en escalating tariff and moves have been welenergy, and cur rency wars and comed by the stock measures to movements in longmarkets but measures boost wages term interest rates. to stimulate demand by “A spluttering north, spending on large ina general slowdown in the frastructure projects — which south and rising levels of debt can create jobs and fresh deeverywhere are hanging over mand — have been conspicuthe global economy the report ous by their absence. ,” said. Unsustainable corporate “Traditional ways of boostdebt, disrupted supply chains, ing demand need to be looked volatile capital flows and rising at instead of sops for exportoil prices could transform a ers,” said Pronab Sen, former growth slowdown into another Chairman of the National Starecession, it noted. tistical Commission. J AYA N TA R O Y C H O W D H U R Y @ New Delhi EXPRESS READ Chennai girl’s death due to dengue: docs ICH doctors said on Thursday the death of 12-year-old girl at the hospital on Wednesday was due to dengue. Two children lost their lives to the disease within a week at the hospital | P3 EC to defer bypolls to 15 K’taka seats New Delhi: The EC told the SC Thursday it would defer by-polls to 15 Karnataka Assembly constituencies till the SC decides on the rebel MLAs’ petitions | P8 PMC Bank withdrawal cap now `10K Mumbai: The Reserve Bank of India on Thursday suspended the PMC Bank board after irregularities were found. It also raised cash withdrawal limit to `10,000 per account-holder | P17 WITH THIS ISSUE CHENNAI’S BEST WEEKEND GUIDE 52 PAGES, INCLUDING 32 OF INDULGE (TABLOID) @ New Delhi Vehicles piled up on a Pune street after a flash flood following heavy rains | PTI | P9 Killer rain brings Pune to its knees A whopping 122 mm rain in just four hours on Wednesday gave Pune a scare, killing 13 people, some of whom were washed away in the floods Hundreds of vehicles and cattle, too, were washed away. Several houses collapsed. People in low-lying areas were were evacuated At Treasure Park society in Padmavati area over 700 cars and bikes have been submerged under at least 3 m of water in basement parking Modicare rejigged to flush out frauds, enhance benefits EXPRESS NEWS SERVICE @ New Delhi AS part of the lessons it learnt while running the Centre’s flagship health insurance scheme for a year, the National Health Authority (NHA) on Thursday rejigged the treatment packages on offer to plug fund leakage and make it more effective. Of the 1,393 packages currently available, the NHA dropped 554 as they were assessed as having been duplicated or no longer practised. On the flip side, it added 237 packages to the Pradhan Mantri Jan Aarogya Yojana, also called Modicare, as they were seen as necessary for beneficiaries. For example, incisional her- nia repair and intestinal perforation have been dropped and new ones like neuroblastoma excision and tracheostomy added. The rates of procedures identified as abuse-prone, such as correction of club foot per cast, have been reduced by up to 80%. Hospitals will now be paid lesser for 57 such packages that includes arthrodesis of the shoulder and diaphragmatic repair. Also, rates of 270 packages have jumped by up to four times for procedures such as temporary pacemaker implantation and appendicectomy . Oncology packages have also been split to include multiple regimens of surgical and medical oncology complemented by radiotherapy regimens. AS part of their quest for financial autonomy the Indian , Institutes of Technology have requested that they be allowed to charge a flat annual fee of `6 lakh from all B Tech and M Tech students irrespective of their income levels or the categories they belong to, which can then be subsidised by the government to the students direct. The IIT Council, the highest administrative body of the institutes, is expected to take its final call on the proposal at its meeting chaired by Union Human Resources D e ve l o p m e n t M i n i s t e r Ramesh Pokhariyal Nishank on Friday . At present, the highest fee paid by general category B Tech students at top IITs is just about `2 lakh per annum while nearly 60 per cent students who are in the reserved category or from families with low incomes have to pay little or no fee. At the M Tech level, too, the fee is highly subsidised unlike other top universities globally where it is heavy . “The demand by the IITs is to ensure greater financial autonomy as they are largely dependent on the HRD ministry for budgetary support,” a source in the ministry said. As of now, the older IITs in Mumbai, Delhi, Chennai, Kharagpur and Kanpur, recover just about 7 per cent of their total revenue from tuiP9 tion fee. 15 more firms ink MoU to invest over `7,000 cr E X P R E S S N E W S S E R V I C E @ Chennai AT a time when an economic crisis is hurting several sectors across the country, Tamil Nadu has managed to attract significant investments from within India and abroad. As many as 15 companies on Thursday signed Memoranda of Understanding with the State to invest in various sectors, including free trade STCs get warehousing, logistics, manufacturing 370 new of wind turbines, and electric and autobuses mobile spare parts. Besides, three companies began comMeanwhile, at a function at mercial production and foundation the Secretariat, stones were laid for five firms on Thurs. the CM flagged day The total investments involved in all off 370 new these ventures stand at a whopping buses `7,175.71 crore. Together, they are expectpurchased for ed to generate employment for 45,846 peoState transport ple. Meanwhile, data accessed by Express corporations at shows that `15,000 crore worth of investa cost of ments promised in the real estate sector `109 crore at the second Global Investors Meet have already been realized. Of the `7,175.71 crore investments, the MoU signed will ensure a total investment of `5,573.89 crore in the spheres of Information Technology, electric components, wind energy textile, LPG bottling and warehousing. The new , industrial units will come up in the districts of Kancheepuram, Thoothukudi, Dindigul, Tiruvallur, CoP4 imbatore, Sivaganga, Namakkal and Vellore.
Express Network Private Limited publishes thirty three E-paper editions of The New Indian Express newspaper , thirty two E-paper editions of Dinamani, one E-paper edition of The Morning Standard, one E-paper edition of Malayalam Vaarika magazine and one E-paper edition of the Indulge - The Morning Standard, Kolkatta.