Cyclone Dana Aftermath: Restoration Work Under Process, Assessment To Be Completed Within 7 Days, Says Suresh Pujari

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Cyclone Dana Aftermath: Restoration Work Under Process, Assessment To Be Comp...

Cyclone Dana Aftermath: Restoration Work Under Process, Assessment To Be Completed Within 7 Days

by Utkalika Mohanty

NEWS HIGHLIGHTS

Cyclone Dana, a severe cyclonic storm, which struck early Friday, brought heavy rains and winds exceeding 110 km/h, uprooting trees, toppling power poles, and damaging houses and crops in some districts of Odisha.

Bhubaneswar, Oct 26: Cyclone Dana, a severe cyclonic storm, which struck early Friday, brought heavy rains and winds exceeding 110 km/h, uprooting trees, toppling power poles, and damaging houses and crops in some districts of Odisha.

Odisha Revenue & Disaster Management Minister Suresh Pujari informed that the damage assessment work would start soon and as per the decision, the damage assessment work will be completed within seven days.

Talking to the media persons, Revenue Minister said that The department is fully geared up for the incessant rains. The rain has raised concerns.

Zero casualty mission has been successful. 2,200 babies were born amidst Cyclone Dana. Pujari thanked ASHA Workers for helping pregnant women for safe institutional deliveries.

The cyclone outbreak would have been more if there were no mangrove trees at bhitarkanika forest.

Preliminary reports came yesterday that four officers suspended for dereliction of duty. Three PEO and one RI have been suspended. The aerial survey will be conducted today informed Pujari.

We will continue to work to rehabilitate people. District collectors and four departments have been directed to carry out the survey.

The severe cyclonic storm Dana has also caused extensive damage to several houses. Two towers have been damaged. A cow has died of snake bite. We will send the final report within 7 days. Teams from the centre will come for the survey. 22 lakh people have run out of electricity, we are trying to restore the electricity connection by evening.

Arrangements have been made to accommodate people in the relief center for seven days. Arrangements have been made to vaccinate the animals. We are keeping an eye on possible flood at Mayurbhanj’s Budhabalanga.

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Silver May Touch Rs 1.25 Lakh A Kg In Next 12-15 Months, Outperform Gold: Report

by Hemanta Pande

Mumbai, Oct 26: Silver could either match or outperform gold in the medium to long term, and is likely to reach Rs 1,25,000 per kg on MCX and $40 on COMEX in the next 12 to 15 months, a report showed on Saturday.

Recently, silver has shown impressive performance, gaining more than 40 per cent (year-to-date) and breaching Rs 100,000 on the domestic front, fuelled by safe-haven buying and robust industrial demand, according to the report by Motilal Oswal Financial Services Ltd (MOFSL).

MOFSL has also set targets for gold of Rs 81,000 in the medium term and Rs 86,000 in the long term. It expects gold to reach $2,830 on COMEX in the medium term and $3,000 in the long term.

"2024 has experienced a significant price rally fuelled by market uncertainties, expectations of rate cuts, rising demand, and a depreciating rupee. The months following the US presidential election will be critical in shaping gold's near-term trajectory," said Manav Modi, analyst, commodity research, Motilal Oswal Financial Services.

Two key factors underpinning this year’s rally in precious metals are expectations of rate cuts from the Federal Reserve and rising geopolitical tensions, particularly in the Middle East.

"Overall, the sentiment for this Diwali is projected to be positive, raising optimism for bullion," Modi said.

Regardless of shifting narratives or market volatility, one constant remains -- gold has historically served as a reliable store of value during uncertain times. According to the report, if one had invested in gold during Diwali 2019, they would be enjoying 103 per cent returns on their domestic gold investments by this Diwali. Since 2011, there have only been two instances (2015 and 2016) where the 30 days leading up to Diwali recorded negative returns.

Aside from 2022, pre-Diwali gains have consistently outpaced post-Diwali gains. "We continue to believe that gold has further upside potential wherein any dips could present buying opportunities. According to our recent quarterly report, a correction of 5-7 per cent is plausible and could serve as an accumulation zone," said Modi.

Two key factors underpinning this year’s rally in precious metals are rate cut expectations from the Federal Reserve and rising geopolitical tensions, particularly in the Middle East.

--IANS

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Centre Amends QCO On Bicycle Retro-Reflective Devices For Ease Of Doing Biz

by Hemanta Pande

New Delhi, Oct 26: To ensure the quality of ‘Make in India’ products and enable ease of doing business, the government on Saturday announced to amend the quality control order (QCO) pertaining to the bicycle retro-reflective devices.

With the QCO amendment, the Department for Promotion of Industry and Internal Trade (DPIIT) has exempted manufacturers for import of 200 bicycle reflectors for research and development of such goods and articles.

It has also exempted import of bicycles reflectors by manufacturers in the country for export purpose, subject to certain conditions.

The QCO on bicycle retro-reflective devices is one of the many initiatives for quality ecosystem development, attracting investments and fostering entrepreneurial talent that places paramount importance on product quality, according to the Ministry of Commerce and Industry.

“India is poised to be recognised as the manufacturing hub of premium quality goods on the back of a strong industry-government partnership as homegrown brands are set to capture a significant market share by fostering consumer trust,” said the ministry.

By reinforcing quality at every stage of production, QCOs support the broader goals of the ‘Make in India’ initiative, promoting sustainable growth and development in the manufacturing sector.

According to Union Commerce and Industry Minister Piyush Goyal, there were only 14 quality control orders (QCOs) covering 106 products till 2014 and in the last 10 years, the government expanded it to 174 QCOs covering 732 products to boost quality in manufacturing.

Urging the industry to adopt good quality standards, the minister said quality can not only boost toy manufacturing but also boost exports.

According to the minister, for India to be recognised as a brand at the world stage, quality has to be given foremost importance.

“If it is coming from India it has to have an imprint of quality. This should be our aspirational goal," Goyal said at the Indian Foundation for Quality Management (IFQM) symposium in the national capital last week.

--IANS

Cyclone Dana Aftermath: Restoration Work Under Process, Assessment To Be Completed Within 7 Days, Says Suresh Pujari

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