India Current Affairs 2017

PM inaugurates Golden Jubilee Year Celebrations of ICSI

Prime Minister Narendra Modi inaugurated Golden Jubilee Year Celebrations (50 years) of the Institute of Company Secretaries of India (ICSI) in New Delhi.

The event assumes significance as it comes close on heels of government action of de-registering over 2.1 lakh dormant, shell companies and disqualifying over one lakh directors as part of a cleanup of corporate system and tackling menace of shell companies.

Institute of Company Secretaries of India (ICSI)

ICSI is the only statutory professional body in India with objective of promoting, regulating and developing the profession of Company Secretaries in India. Its headquarters are located at New Delhi, four Regional Offices at New Delhi, Chennai, Kolkata, Mumbai and 69 Chapters across India.

Originally it was set up as not-for-profit organisation on 4th October, 1968, but later in 1980 the institute was converted into statutory professional body under an Act of Parliament, ‘The Company Secretaries Act 1980’.

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Foundation stone for national waterway on Krishna River laid

Vice President M Venkaiah Naidu laid foundation stone to develop Muktyal to Vijayawada waterway stretch on River Krishna as part of National Waterway 4 at Amaravati in Andhra Pradesh.

The 82-km inland waterway stretch is Phase-1 of National Waterway-4 developed under Sagar Mala project. It will be used mainly for transportation of cement and construction material for new capital city Amaravati.

National Waterway 4

NW-4 in Andhra Pradesh has total length of 2890 km. It is proposed to be developed in three phases viz. Phase-I: Muktyala to Vijayawada (Krishna River) (82 Km), Phase-II: Vijayawada to Kakinada (Eluru canal & Kakinada canal) and Rajahmundry to Polavaram stretch of Godavari (233 Km) and Phase-III: Commamur Canal, Buckingham canal and balance stretches of Krishna & Godavari Rivers (573km)

In Phase I, three cargo terminals are proposed to be built at Muktyala, Ibrahimpatnam and Harishchandrapur. Besides, four Passenger Terminals will be built at Durga Ghat, Bhawani Island, Vedadari, and Amravati. The Phase I work is expected to be completed by June, 2019.

Significance of NW 4

The project will provide efficient logistics solution to boost economic growth of region. It will facilitate development of new capital city Amravati during its early development stage by transporting substantial construction material.

‎It will also help in controlling traffic congestion and pollution. It will help in saving cost of transportation. Moreover, Ro-Ro services on the route will provide intra-city transportation of passengers and vehicles. It will improve connectivity to tourist and pilgrimage places in and around Vijayawada and Amaravati.

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