Author: MIL-OSI Publisher

Source: Government of India

Posted On: 08 MAY 2025 12:09PM by PIB Delhi

The Cabinet Committee on Economic Affairs (CCEA) in the meeting held on 07.05.2025, chaired by the Prime Minister Shri Narendra Modi, has accorded its approval for the Revised SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) Policy for Coal Allocation to Power Sector. The Revised SHAKTI Policy adds to the series of coal sector reforms being undertaken by the Government.

With the introduction of SHAKTI Policy in 2017, there was a paradigm shift of coal allocation mechanism from a nomination-based regime to a more transparent way of allocation of coal linkages through auction / tariff-based bidding. Now, the multiple paras of the SHAKTI Policy, for coal linkage, have been mapped to only two Windows in the Revised SHAKTI Policy, aligning with the spirit of ease of doing business, encouraging competition, efficiency, better use of capacity, seamless pit head thermal capacity addition and affordable power to the country.

The current revision with innovative features will further enhance the scope and impact of the SHAKTI policy and support the power sector through

• Greater flexibility
• Wider eligibility and
• Better accessibility to coal

The new policy will ensure coal linkage to all power producers leading to generation of more power, cheaper tariffs and an overall positive impact on the economy, thereby leading to increased employment generation potential. The reliable and affordable power supply to various sectors would catalyze economic activities and support the Atmanirbhar Bharat Initiative. The increased availability of domestic coal, in a simplified manner would also facilitate the revival of remaining stressed power assets. The linkage coal can now be used for generating power from Un-requisitioned Surplus (URS) capacity, for sale in power markets, which will not only deepen power markets by increasing availability of power in power exchanges but will also ensure optimum utilization of generating stations.

Further, the new linkages offered to the power sector would increase the coal availability for the power sector and increase the mining activities in the coal bearing regions resulting in generation of higher revenue to the State Governments which can be utilized for development of these regions and local population in general. The policy would encourage pit head thermal capacity addition and facilitate imported coal substitution in the Imported Coal Based (ICB) plants that can secure domestic coal thereby reducing their import coal dependency. 

Following are the provisions of the Revised SHAKTI Policy.  

For grant of fresh coal linkages to Thermal Power Plants of Central Sector/State Sector/ Independent Power Producers (IPPs), following two windows have been approved under the Revised SHAKTI policy:

1. Coal Linkage to Central Gencos/States at Notified price: Window–I
2. Coal Linkage to all Gencos at a Premium above Notified price: Window–II

Window-I (coal at notified price):

1. Existing mechanism for grant of coal linkage to Central Sector Thermal Power Projects (TPPs) including Joint Ventures (JVs) & their subsidiaries would  continue.
2. Coal linkages to be earmarked to States and to an agency authorized by group of States as per existing mechanism, on the recommendation of Ministry of Power. Coal linkage earmarked to States may be utilized by States in its own Genco, IPPs to be identified through TBCB or existing IPPs having PPA under Section 62 of the Electricity Act, 2003 for setting up of a new expansion unit having PPA under Section 62.

Window-II (premium over notified price):

Any domestic coal-based power producer having PPA or untied and also Imported coal-based power plants (if they so require) can secure coal on auction basis for a period upto 12 months or for the period of more than 12 months upto 25 years by paying premium above the notified price and providing the power plants the flexibility to sell the electricity as per their choice.

This Revised SHAKTI Policy would maximize domestic coal utilization, ensure seamless thermal capacity addition, reduce dependence for coal on global markets, reinforce nation’s energy independence aligning with Government’s push for Energy Security for All.

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Shuhaib T

(Release ID: 2127652) Visitor Counter : 92

Source: Government of India

Posted On: 08 MAY 2025 10:44AM by PIB Delhi

The Centre for Joint Warfare Studies (CENJOWS), in collaboration with Aerospace Services India (ASI) and Israel Aerospace Industries (IAI), successfully hosted the Medium-Range Surface-to-Air Missile (MRSAM) India Eco-System Summit 2.0 at the Manekshaw Centre, New Delhi on May 07, 2025. The day-long summit brought together key stakeholders from India’s defence eco-system, highlighting collaborative achievements and future possibilities in enhancing the country’s air & missile defence capabilities under the Aatmanirbhar Bharat and Make-in-India initiatives.

The event witnessed participation from senior representatives of the Ministry of Defence (MoD), Armed Forces, DRDO, Bharat Electronics Limited, Bharat Dynamics Limited, and leading Indian defence manufacturers. The participants voiced a shared commitment to elevate India’s position as a global hub for advanced defence systems, with ASI reaffirming its vision to become India’s premier defence service provider.

The inaugural session was presided over by senior MoD officials and addressed by key industry leaders, focusing on the growing synergy between Indian and Israeli defence sectors. Key sessions of the summit included:

• Panel discussions on operational readiness and self-reliance in missile systems.
• Technology showcases featuring AI-powered service management systems like STORMS developed by ASI.
• Industry interactions on building India’s long-term capability in indigenous defence manufacturing.

The summit emphasised the achievements of ASI-IAI’s wholly-owned Indian subsidiary, which plays a critical role in providing technical representation, life-cycle support, and local manufacturing for the MRSAM system and its associated subsystems such as the BARAK 8 missile and Air Defence Fire Control Radar. It underscored the importance of establishing a resilient and future-ready air defence infrastructure through sustained collaboration, capability development, and localised innovation. 

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VK/SR/Savvy

(Release ID: 2127642) Visitor Counter : 82

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Monetary Authority:

The Federal Open Market Committee of the United States Federal Reserve (the Fed) announced early today (May 8, Hong Kong time) after its two-day meeting that it had decided to keep the target range for the federal funds rate unchanged at 4.25-4.5 per cent.
    
The policy decision is in line with market expectations. The series of tariff measures recently announced by the US authorities have further increased uncertainty about US inflation and economic growth outlook. The Fed therefore is adopting a patient approach to its monetary policy. 
 
In Hong Kong, the monetary and financial markets have continued to operate in an orderly manner. The recent strengthening of the Hong Kong dollar, mainly driven by equity-related demands and the appreciation of regional currencies against the US dollar, has triggered the strong-side Convertibility Undertaking (CU) of HK$7.75 to US$1 under the Linked Exchange Rate System (LERS). The Hong Kong Monetary Authority (HKMA) sold Hong Kong dollars to the market in exchange for US dollars in accordance with the LERS, and the Aggregate Balance increased accordingly, leading to more ample Hong Kong dollar liquidity and lower interbank interest rates. Going forward, Hong Kong dollar interbank rates will be affected by the supply and demand of Hong Kong dollar as well as the Hong Kong dollar liquidity condition and other factors, especially in the shorter tenors.
 
The markets are expected to focus on developments relating to US tariff measures and the US interest rate path, both of which are subject to considerable uncertainty. Global financial markets would inevitably be affected and exhibit volatility. The public should carefully assess and manage risks when making property purchase, investment or borrowing decisions. The HKMA will continue to closely monitor market developments and maintain monetary and financial stability.

Source: Government of India

Global Leaders Unite at UN Vesak 2025 to Champion Buddhist Values for Peace and Sustainability

Buddhism is the Ethical Foundation for a Just and Non-Discriminatory Society- Shri Ramdas Athawale – Minister of State for Social Justice and Empowerment

Global Buddhist Voices Call for Compassion, Education, and Environmental Action

Vajrayana Buddhist monks from India performed a prayer chanting ceremony with profound spiritual meaning

Posted On: 07 MAY 2025 9:30PM by PIB Delhi

The Vietnam Buddhist Academy in Ho Chi Minh City marked the second day of the United Nations Vesak 2025 celebrations with a profound display of spiritual unity and global cooperation. Leaders from 85 countries gathered to reflect on this year’s theme: “Solidarity and Tolerance for Human Dignity: Buddhist Wisdom for World Peace and Sustainable Development.”

Shri Ramdas Athawale, Minister of State for Social Justice and Empowerment of India, emphasized the transformative potential of Buddhist principles in promoting justice, equality, and compassion in modern societies.

Speakers from across continents underscored the relevance of Buddhist wisdom in addressing pressing global challenges. Messages ranged from the role of Buddhist education in modern times, to environmental advocacy, mental health, and the importance of nurturing the younger generation to carry forward the light of the Dharma.

The program continued with messages and speeches from leaders of international Buddhist organizations, focusing on clarifying the main theme of this year’s Great Festival.

In the beginning of the program, Vajrayana Buddhist monks from India performed a prayer chanting ceremony with profound spiritual meaning. The ceremony symbolizes the spirit of harmony, respect, solidarity among Buddhist traditions in the international community. After the prayer service, the plenary session continued with speeches from leaders and government representatives from many countries. The leaders appreciated the role of Buddhist thought in building harmonious and compassionate societies and responding to global challenges such as war, poverty and climate change.

Most Venerable Thich Thien Nhon – Deputy Supreme Patriarch, Chairman of the Executive Council of the Vietnam Buddhist Sangha, Chairman of the National Committee for Vesak 2025 attended with leaders of the Vietnam Buddhist Sangha, representatives of Buddhist organizations and scholars from 85 countries and territories.

Venerable Jeong Beom – Acting Chairman of Overseas Affairs Headquarters, Korea, delivered a message “Affirming the importance of global cooperation and solidarity among Buddhist traditions.” Associate Prof. Karsai Gábor Zsolt – Rector of Dharma Gate Buddhist College, Hungary, delivered the message “Promoting the role of Buddhist education in modern times.” Guerrero Diañez – President of the Spanish Buddhist Association, delivered the message “Sharing hope in the young generation that will continue the light of Buddhism in the West.”

Gerhard Weissgrab – President of the Austrian Buddhist Union, delivered the message “Call for practical action for the environment and world peace.” Ricardo Vieira Sasaki – Director of the Nālandā Buddhist Studies Center, Brazil, delivered the message “Emphasizing the healing power of Buddhism for community mental health.” Associate Prof. Edi Ramawijaya Putra – President of the Indonesian Association of Higher Buddhist Education, delivered the message “Proposal to enhance exchange and cooperation in regional Buddhist education.” Mr. Egil Lothe – Former President of the Norwegian Buddhist Federation, Member of the ICDV International Executive Committee, delivered the message “Emphasizing Vesak as a symbol of global Buddhist connection.

 

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Sunil Kumar Tiwari

pibculture[at]gmail[dot]com

(Release ID: 2127641) Visitor Counter : 38

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Attention TV/radio announcers:

Please broadcast the following as soon as possible:

Here is an item of interest to swimmers.

The Leisure and Cultural Services Department announced today (May 8) that the Environmental Protection Department has classified the water quality at Ting Kau Beach in Tsuen Wan District as Grade 4, which means the beach is not suitable for swimming. The red flag has been hoisted. Beachgoers are advised not to swim at the beach until further notice.

Source: Hong Kong Government special administrative region

     â€‹Invest Hong Kong (InvestHK) announced today (May 8) that a long-term local entertainment business, Great Entertainment Group (GEG), has created a new joint venture – Harbour Mast Productions Limited – with Mast International, a Korean entertainment business in Hong Kong, as part of the companies’ long-term expansion plans in the region.
     
     Associate Director-General of Investment Promotion at InvestHK Mr Arnold Lau said, “We are excited to see the expansion of GEG in Hong Kong and welcome Mast International to the city. This initiative will not only enrich Hong Kong’s vibrant entertainment industry, but also significantly contribute to job creation and stimulate our local economy by fostering new business partnerships in the city.”
     
     Harbour Mast Productions will be the official promoter of Cirque du Soleil’s legendary show KOOZA, as it returns to Hong Kong for the first time in seven years. Cirque du Soleil chose Hong Kong as the city to kick off its relaunch in Asia. The show will then travel to Busan and Seoul in Korea following the performances in Hong Kong.
     
     According to the Chief Executive Officer of GEG, Mr Randy Bloom, the KOOZA Tour travels with more than 115 cast and crew, along with 60 family members. This represents a investment in Hong Kong of more than 8 000 room nights, transport, food and beverage and entertainment during the two months that the show will be in the city. In addition to the travelling crew, the show requires approximately 200 local hires.
     
     Mr Bloom added that with over 10 years of history and experience in producing entertainment events in Hong Kong, GEG decided to expand in the city where it has traditionally created its own local events, including the annual AIA Carnival, the Hong Kong Observation Wheel (HKOW) and well-known events such as The Grounds in the HKOW event space. He noted that Mast International, with its decades of experience bringing worldwide live entertainment events to Asia, was seen as the natural partner to join in this effort. The aim is to bring more and more high-quality events and entertainment to come to Hong Kong, serving as a gateway to the region.
     
     Mr Bloom said, “We hear and support the Government’s policy for mega events. We want to support the development of the entertainment industry and demonstrate our commitment to enhancing what Hong Kong can offer as a city for events both local and internationally. We have great trust in Hong Kong as a city.”
     
     The Chief Executive Officer and President of Mast International, Mr Yong Kim, added, “As a long-time producer and promoter of events in Asia, Mast recognises the opportunities afforded by the growth of the live events industry in Hong Kong. As our company continues to grow, we aim to expand and create more diverse experiences for people in Hong Kong. By bringing global entertainment around the world and into the city, we can offer a wider range of engaging entertainment options. Notably, the globally acclaimed Cirque du Soleil will be making its first appearance in Hong Kong since 2018 and will kick off a multi-destination Asia Tour.”
     
     GEG is a multi-award-winning group of companies with expertise in creating and producing exceptional live entertainment events and experiences in Asia. To date, GEG has engaged over 20 million consumers across over 500 events, pioneering some of the largest, most successful and enduring events and experiences.
     
     Mast International was founded as a subsidiary of Mast Media Limited in 2006. Since then, the company has successfully presented seven shows of Cirque du Soleil in Korea. Mast International has promoted other various international spectacles, sporting events, exhibitions, pop concerts, ballets and plays, etc, including the legendary French musical, “Notre-Dame de Paris”.
     
     For more information about GEG, please visit www.geg.asia.
     
     For more information about Mast International, please visit www.mastent.co.kr.
     
     To obtain a copy of the photos, please visit www.flickr.com/photos/investhk/albums/72177720325905295.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

Chief Executive John Lee has accepted the recommendation of the Judicial Officers Recommendation Commission (JORC) that William Gillow Gibbes Austen Young be appointed as a non-permanent Court of Final Appeal judge.

Subject to the Legislative Council’s endorsement, the Chief Executive will make the appointment under Article 88 of the Basic Law and section 9 of the Hong Kong Court of Final Appeal Ordinance.

Mr Lee announced that he is pleased to accept the JORC’s recommendation, noting that Mr Young retired from his role as a Permanent Judge of New Zealand’s Supreme Court, that country’s final court of appeal, in April 2022.

“He is a judge of eminent standing and reputation,” the Chief Executive said. “I am confident that he will contribute substantively to the Court of Final Appeal.”

Mr Lee highlighted that with Mr Young’s appointment, the panel of non-permanent judges from other common law jurisdictions will consist of six eminent judges from the UK, Australia and New Zealand.

“The presence of these esteemed overseas jurists as non-permanent judges of the Court of Final Appeal is a manifestation of the independence of the Judiciary in the Hong Kong Special Administrative Region as protected by the Basic Law.

“Their participation demonstrates a high degree of confidence in the Hong Kong SAR’s judicial system, and enables Hong Kong to maintain strong links with other common law jurisdictions.”

The Chief Executive expressed confidence that distinguished jurists bringing profound judicial experience from overseas will remain a unique strength of Hong Kong’s judicial system.

Article 90 of the Basic Law and section 7A of the ordinance provide that the Chief Executive shall obtain the endorsement of the Legislative Council on the appointment of Court of Final Appeal judges. The Government will seek such an endorsement in due course.