Current Affairs Today - Current Affairs 2018

हिंदी करंट अफेयर्स प्रश्नोत्तरी 2018 के लिए यहाँ क्लिक करें.

Manipur Government launches health assurance scheme for poor & disabled people

Manipur Government has launched the Chief Minister-gi Hakshelgi Tengbang (CMHT), a health assurance scheme for the poor and disabled people. It was launched by Manipur Chief Minister N Biren Singh.

The CMHT scheme will provide cashless treatment to poor at government hospitals, health centres and other empanelled selected private hospitals.

Chief Minister-gi Hakshelgi Tengbang (CMHT) Scheme

The scheme will provide insurance cover up to Rs 2 lakh per eligible family in treatment of seven critical identified critical ailments – cardiovascular diseases, neurological conditions, kidney ailments, liver ailments, cancer, neo-natal diseases and burns per year. The beneficiaries will be identified from Socio Economic Caste Census (SECC). They may get themselves enrolled for scheme with help of ASHA workers at kiosks opened in nearby PHCs, CHCs and District Hospitals.

Significance

The CMHT Scheme will have convergence with Government of India programme like PMs Jana Aushadhi Programme and Free Diagnostic Programme. It will be truly IT platform driven scheme. Along with Chief Minister-gi Sotharabashing gi Tengbang (CMST) scheme, state government is able to provide two most noble social security schemes to its people.

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ONGC to acquire Government’s entire 51.11% stake in HPCL

The Union Government and state-run oil explorer ONGC clinched deal for acquisition of government’s 51.11% stake in Hindustan Petroleum Corporation (HPCL) for a consideration of Rs. 36,915 crore. The deal will be closed by end of January 2018. Earlier empowered panel headed by finance minister Arun Jaitley had approved price bid for acquisition. The all-cash deal will help government boost its non-debt capital receipts and meet disinvestment target (Rs 72,500 crore).

Significance

Through this acquisition, ONGC is gaining midstream and downstream presence and access to marketing network. This acquisition will make ONGC India’s first vertically integrated oil major, having presence across value chain in sector. The integrated entity will have advantage of having enhanced capacity to bear higher risks, take higher investment decisions and neutralising impact of volatility of global crude prices. As for HPCL, deal will help it in further leveraging synergy at various levels of vertical value chains as part of integrated oil and gas group. It also will enable ONGC to mitigate risk of crude price volatility.

Background

In 2017-18 Union Budget, Finance Minister Arun Jaitley had announced that state-run oil companies will be merged to create ‘oil major’. Following this Cabinet Committee on Economic Affairs (CCAE) in July 2017 had granted ‘in-principle’ approval to the strategic sale of HPCL to ONGC. This also included change in management control, but allowed HPCL to retain its brand as subsidiary of the national oil explorer.

Market Share

During 2016-17, HPCL had turnover of Rs 2,13,489 crore and profit after tax of Rs 6,502 crore. It markets around 35.2 million tonne of petroleum products accounting for market share of about 21%and has around 15,000 fuel retail outlets. ONGC contributes around 70% of Indian domestic production of crude oil and natural gas.

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