Latest news with #SNA
Hindustan Times
14 hours ago
- General
- Hindustan Times
Delhi govt renews push to rename Najafgarh drain as Sahibi river
Delhi's Najafgarh drain may soon be renamed the 'Sahibi river', with the city government submitting a fresh proposal to the State Names Authority (SNA) under the urban development department. The move is part of efforts to raise awareness about the historical river, which once flowed along the same path that is now occupied by the drain. The Sahibi River originates in Rajasthan, flows through Haryana, and enters Delhi before merging with the Yamuna. (Sanchit Khanna/HT Photo) The Sahibi River originates in Rajasthan, flows through Haryana, and enters Delhi before merging with the Yamuna. Within Delhi, its course is currently known as the Najafgarh drain. As part of a recent submission to the National Green Tribunal (NGT), the Delhi government attached digitised survey maps from 1975-76 showing the Sahibi river's original course through the Capital, now channelled as a stormwater drain. The government said a similar renaming proposal was submitted last year, but was returned by the SNA, which asked the city to first obtain concurrence from the Union ministry of home affairs (MHA). A revised proposal is now under review. Efforts to rejuvenate the channel are already underway, officials said, but rebranding it as a river is key to public engagement. 'To generate people's support, it necessitates avoiding use of the word 'drain/nala', due to the stigma and misconception associated with it—that it symbolises a channel carrying dirty water. Therefore, it's prudent to officially name or rename the channel as Sahibi River,' the Delhi government said in its NGT submission dated May 24 and uploaded on June 26. Manu Bhatnagar, principal director of the natural heritage division at the Indian National Trust for Art and Cultural Heritage (INTACH), said the Sahibi was originally a rain-fed river, which over the past two centuries, steadily shrunk due to encroachments and agricultural expansion. 'Earlier, the water table was high, and the river sustained itself year-round. Over time, it narrowed, and parts dried up—particularly near Dharuhera in Haryana, where much of the riverbed was absorbed by farmland,' he said. 'The river merges with outfall drain number 8 in Haryana and flows toward the Dhansa Barrage and Najafgarh lake. In that sense, Najafgarh lake forms part of the Sahibi river system, with the river feeding it upstream. Downstream of the lake, the channel was once known as the Sahibi nallah—today, it exists as the Najafgarh drain,' he said. Historical records also trace the evolution of the river's identity. An 1807 Survey of India map labels it 'Saabi nala'. By 1865, the British had excavated a channel from Najafgarh lake to Wazirabad to boost cultivation, and the channel began to be referred to as the Najafgarh drain. The 1883 Gazetteer, Bhatnagar added, described the Sahibi nallah as 'a series of water-filled ditches'. The NGT is hearing a petition filed by Prakash Yadav, a resident of Kharkhara village in Haryana, who alleged that the Sahibi river is being neglected and filled with sewage, causing overflow into nearby farmland. The tribunal has sought reports from both Delhi and Haryana on actions taken for the river's restoration and the protection of surrounding areas. The Delhi SNA, which examines all name change proposals, comprises 29 members, including four MLAs and officials from various state departments. It is typically chaired by the chief minister, with the chief secretary as vice-chair. Proposals are first vetted by a subcommittee led by the principal secretary (urban development) before being placed before the SNA for final consideration. In February last year, the NGT had asked the Delhi government to clarify whether the Najafgarh drain was ever historically known as the Sahibi river and whether renaming it could aid its revival.
Straits Times
2 days ago
- General
- Straits Times
Why this grandma embraces tech and now teaches others to do the same
Hospital executive and active volunteer Rahimah Salimin introduces fellow seniors to useful apps that can help with everyday tasks. PHOTO: SPH MEDIA BRANDED CONTENT 'I must learn, otherwise I will miss out': Why this grandma embraces tech and now teaches others to do the same This active volunteer, who is far from retirement mode, chooses to spend her weekends meaningfully by sharing her practical IT knowledge with fellow seniors to help them better navigate everyday tasks Staying still does not suit Madam Rahimah Salimin who, despite being 70 years old, is still working full-time at Tan Tock Seng Hospital (TTSH), where she provides clerical support to the emergency services department. On Saturdays, the grandmother of 20 – with another grandchild on the way – still chooses to be on the go. Watch to learn how Madam Rahimah Salimin spends her personal time meaningfully, making a difference to the lives of her fellow seniors. Not only does she volunteer with NTUC Club's engagement platform U Live, helping to guide and usher the seniors during events, she also advocates technology as a Smart Nation Ambassador (SNA) and visits seniors as a Silver Generation Ambassador (SGA). Madam Rahimah (bottom row, sixth from left) has been actively involved in NTUC U Live since 2015, often volunteering as an usher at events. PHOTO: COURTESY OF RAHIMAH SALIMIN 'Time is yours, you can manage it yourself,' she says, her voice light and cheerful. 'My own children are already so old and have their own families. There's nothing to do at home, so I can volunteer my time instead. Life is so short, and time is precious.' SGShare: How more S'poreans can help the vulnerable Singaporeans now have a new platform to help fellow Singaporeans in need. To mark SG60, Community Chest's regular giving programme, Share, has been rebranded as SGShare to rally more to give regularly and support critical social service programmes. Starting this year, donations will be matched by the Singapore Government under the SG Gives matching grant, with up to $250 million available. Every dollar donated will help vulnerable communities, offering them opportunities to pursue their goals regardless of background. Here is a simple illustration of how your SGShare contribution can go a long way. Madam Rahimah began her volunteer journey in 2015 with U Live before she was subsequently introduced to SNA and SGA in 2019 and 2020 respectively. One of Madam Rahimah's first tasks as an SNA was to be a guide for the Smart Nation Builder, a roving showcase of Smart Nation initiatives and digital government platforms, and for members of the public to provide their feedback. As a Smart Nation Ambassador, Madam Rahimah will volunteer at roadshows to encourage Singaporeans to embrace digital technology in their everyday lives. PHOTO: COURTESY OF RAHIMAH SALIMIN Armed with her own growing digital knowledge, Madam Rahimah also encourages the seniors she visits for her SGA work, sharing with them how apps such as those for home grocery delivery and transportation could make their lives much easier – and safer, in case they have a fall outside. Confessing that she initially did not even know how to navigate to a website on the computer, the digital training workshops and her 'thick skin' to seek help from the younger ones have helped improve her knowledge. 'When I realised that fellow seniors weren't digitally savvy, this motivated me to learn more, and then to share my knowledge with them. The issue is when you don't understand, and you don't learn, you might also get scammed easily,' she says. Madam Rahimah is now adept at using apps to order groceries online and also encourages other seniors to do the same. PHOTO: SPH MEDIA From booking a taxi to ordering food and shopping for groceries online, Madam Rahimah can now confidently do it all. 'Now that I'm older, it's more convenient to order groceries online,' she says. 'It can be tiring and challenging to carry bags of rice or sugar from the supermarket.' She also attends digital courses at work, with topics that include artificial intelligence and video conferencing like Zoom, and encourages her senior colleagues to do the same, even if they are reluctant. Through her interactions with other senior citizens, Madam Rahimah has formed new friendships and finds herself making deeper connections with many others in the community. PHOTO: SPH MEDIA 'I am not from the digital era but I know that, moving forward, Singapore will become more and more digital-focused. These changes are beyond my control, so I must learn, otherwise I will miss out,' she says. Being a volunteer has also helped her form deeper connections with her neighbours, who recognise her from the community roadshows, when she helped them with digital tech. She says with a laugh: 'They will say 'hi' to me at the market, and then we will go drink kopi together.' This SG60, be inspired by stories like Madam Rahimah's. Find your own way to give back – whether through teaching, learning, or connecting. Visit to support over 600 causes and help build a more caring Singapore. Celebrating SG60 with the Ministry of Culture, Community and Youth Join ST's WhatsApp Channel and get the latest news and must-reads.
Yahoo
5 days ago
- Business
- Yahoo
Is Snap-on Stock Underperforming the Nasdaq?
Kenosha, Wisconsin-based Snap-on Incorporated (SNA) manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users. Valued at a market cap of $16 billion, the company serves the aviation and aerospace, natural resources, agriculture, infrastructure construction, government and military, mining, power generation, and technical education industries. Companies worth $10 billion or more are typically classified as 'large-cap stocks,' and SNA fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the tools & accessories industry. The company is a powerhouse in professional-grade tools and equipment, renowned for its unmatched quality, innovation, and direct-to-user sales model. It sustains a premium brand reputation through rigorous innovation and robust IP, backed by over 4,000 patents and substantial R&D investments. Robotaxis, Powell and Other Key Things to Watch this Week The 7 Signs Your Stock Is A Buyout Target Looking to Gamble on Hard-Hit Solar Stocks? This Is the Top-Rated Ticker Now. Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! This tools and equipment manufacturer has slipped 18.2% from its 52-week high of $373.90, reached on Nov. 27, 2024. Shares of SNA have declined 7.3% over the past three months, lagging behind the Nasdaq Composite's ($NASX) 9.9% return during the same time frame. Moreover, on a YTD basis, shares of SNA are down 9.9%, compared to NASX's marginal gain. However, in the longer term, SNA has soared 13.8% over the past 52 weeks, outperforming NASX's 9.7% rise over the same time frame. To confirm its bearish trend, SNA has been trading below its 200-day moving average since mid-April, with minor fluctuations, and has remained below its 50-day moving average since mid-December, 2024, with slight fluctuations. On Apr. 17, shares of Snap-on plunged 8% after its weaker-than expected Q1 earnings release. The company's revenue declined 3.5% year-over-year to $1.1 billion and fell short of the consensus estimates by 5%. Moreover, its EPS of $4.51 fell 8.1% from the year-ago quarter and missed the forecasted figure by 6.2%. The disappointing performance was primarily driven by weaker results in its commercial & industrial group and tools group, with both segments reporting declines in organic sales and operating earnings. Snap-on has outperformed its rival, Stanley Black & Decker, Inc.'s (SWK) 23.2% drop over the past 52 weeks and 19.6% fall on a YTD basis. Despite SNA's recent underperformance, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy' from the 10 analysts covering it, and the mean price target of $345 suggests a 12.8% premium to its current price levels. On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Mint
19-06-2025
- Business
- Mint
India's informal sector isn't off the map: It's being tracked better than ever
Recently, Indian GDP measurement came under considerable discussion in the media on account of an observation emanating from the Niti Aayog based on a projection made by the World Bank—that India has become the world's fourth largest economy. As part of this discussion, some commentators speculated that Indian GDP is underestimated because 'a very significant informal sector is not measured in the GDP." This allegation can be fairly easily dismissed. The 'informal sector' is a term that is loosely used by many economists. There are two different conceptual approaches to defining this term. First, by the International Labour Organization, which tends to focus on 'informal employment,' primarily referring to work that happens without written contracts, job security and often on daily wages. Second, by the UN's System of National Accounts (SNA), which refers to value added within the household sector, covering those establishments that do not maintain regular books of accounts. Also Read: GDP's dirty little secret: Why we should be tracking GVA instead Since 2011-12, the Indian System of National Accounts has used this globally accepted definition to measure the informal economy. If we look at the recent National Account Statistics 2025 released by the ministry of statistics and programme implementation, in chapter 7 we will find various aggregates pertaining to the household sector of the economy. This alone is enough to indicate that the informal economy is included in India's GDP measurement. A second type of criticism arises from the argument that the informal sector in GDP data is actuallyoverestimatedin the current series. This criticism has been around since the series was revised in 2015, with proponents arguing that demonetization and GST introduction had a severe impact on the informal sector and since this was not 'adequately' reflected in the data, the numbers may be faulty. Subsequently, the covid pandemic was also added to this list. This criticism requires more careful analysis, and understanding it requires a closer look at the composition of the household sector (shown in the pie-chart for 2023-24). Remember that national accounts calculate value added in each of these segments differently. Also Read: Mint Quick Edit | India's GDP: A key test lies ahead The contribution to gross value added (GVA) by agriculture and construction (which account for over 56% of the household sector), is computed through a 'commodity flow' method. The production data for these sectors is separately and independently verifiable, leaving little scope for under- or over-estimation. For the remaining segments, GVA computation in the base year 2011-12 was done using employment data from the National Sample Survey's (NSS) employment-unemployment numbers and establishment-level value added data from the 2010-11 NSS on unincorporated enterprises. The major innovation introduced in the revision was to use a measure of effective labour that assigned different weights for different types of employment (regular, casual, etc). In years after the base year, the GVA was moved using different indicators; in transport, the indicator was based on growth in commercial vehicles; in trade, it was drawn from sales tax collections (which probably shifted to GST post 2017); and in manufacturing, it was drawn from the Index of Industrial Production and Annual Survey of Industries. In other segments, it was based on the growth in the corresponding corporate segments. Also Read: Kaushik Basu: Redefine prosperity; GDP tunnel-vision could prove costly The possibility of mis-measurement then depends on the dissonance between the chosen indicator and the sector itself. In this context, it should be noted that the mere introduction of GST does not by itself lead enterprises to formalize, since enterprises under a certain size ( ₹20 lakh in services and ₹40 lakh in goods) are not required to register. Even those above this norm with a turnover up to ₹1.5 crore can pay a fixed tax rate under the GST composition scheme and are not required to maintain books of accounts. In effect, enterprises with turnover below ₹1.5 crore remain in the household (i.e., informal) segment. Also Read: It's time to lay the great Indian GDP controversy to rest Since 2017-18, the NSS has been conducting annual and quarterly surveys of employment, which from this year have become monthly. Since 2021-22, it has also been conducting an annual survey of unincorporated enterprises. As of now, three years of data from this survey are available. The survey is conducted on a design similar to the earlier quinquennial survey of unincorporated enterprises done in 2010-11 and 2015-16. Data from these surveys taken together suggests that the informal sector has been growing robustly, undermining simple arguments of over-estimation. In fact, the employment survey seems to indicate that employment in the informal sector is now better than at any time in the last 20 years. However, its compositional character has shown changes, with a very rapid growth in employment within household enterprises. Going forward, the concept of effective labour requires us to carefully assess its impact on value added. Also Read: TCA Anant: How India's statistical system could win the ongoing war of narratives The timeliness and regularity of informal sector data now available through the NSS is better than it has ever been. This creates an opportunity for the ongoing base revision to measure informal sector value added in a manner that offers more clarity. It should be possible for us to reduce our dependence on episodic base revisions and have a genuinely continuous series of national accounts. Base revisions could then be undertaken (as is done globally) only to account for changes in the global methodology as and when they occur. The author is a visiting professor at the Institute for Studies of Industrial Development and former chief statistician of India.
The Spinoff
15-06-2025
- Business
- The Spinoff
Will a voluntary ‘nature credits' market really help biodiversity?
The idea is for businesses to fund conservation projects and benefit from the eco-friendly association. The government sees potential and wants to get involved, but how much difference can such a scheme actually make? Late last week, associate minister for the environment Andrew Hoggard announced the government was 'supporting the expansion of the voluntary credits nature market [sic]'. Details were scarce on what the government's role would be, but in a press release, Hoggard said, 'We want to connect those caring for the land with investors who support conservation. Nature credit markets help fund trusted environmental projects that actively protect and restore ecosystems.' The press release mentioned nine voluntary nature credits market pilots, conservation projects such as restoring exotic forestry or farmland to native bush. One of those is a partnership between Sanctuary Mountain Maungatautari, a Waikato wildlife reserve that has struggled with funding issues, and environmental financing business Ekos, which began in 2022. 'This represents a significant move away from reliance on traditional grant funding and towards private sector investment to support New Zealand's biodiversity future,' said Sanctuary Mountain Maungatautari CEO Helen Hughes in response to Hoggard's announcement. Hoggard suggested the voluntary nature credits market would act as an alternative to the SNA (Significant Natural Areas) framework of the National Policy Statement on Indigenous Biodiversity, following the government's 2024 suspension of the requirement for councils to map SNAs on private land, a move that was widely criticised. 'Farmers and other private landowners are doing their part to protect native biodiversity and want to do more. Supporting voluntary natural credits markets is a chance for the government to show them the carrot, not just the stick,' said Hoggard. 'We will test the role for government which may include setting principles, and a framework for standards, to build market confidence and ensure quality.' So what are 'nature credits' or 'biodiversity credits'? The concept is based on the existing 'carbon credits' market. Under that framework, businesses that wish to recognise the CO2 they emit into the atmosphere that is otherwise difficult to immediately address can voluntarily buy carbon credits as a contribution to climate action. The money from buying carbon credits goes towards environmental projects that remove or mitigate the release of CO2. Voluntary credits can be configured in different ways, and include nature and other co-benefits which are recognised in the price per tonne of CO2 of the credits. Biodiversity credits are similar, but instead of offsetting actions that have negative effects on the environment, they seek to provide an opportunity for businesses to finance positive environmental action. A large barrier to lasting conservation action is money. Planting trees, pest control and protecting wildlife comes at no small cost, and these efforts need to be financed somehow. Introducing: biodiversity credits. To generate a biodiversity credit, actions need to be undertaken that demonstrably improve biodiversity, and by investing in biodiversity credits and financing such activity, businesses can associate themselves with an eco-friendly image. But how much difference do biodiversity credits actually make? Many concerns with the concept of biodiversity credits stem from existing issues within the voluntary carbon credits markets. Far too often carbon credits have been sold to finance environmental efforts that have little real effect on the environment, meaning that businesses get all of the positive publicity for helping the environment, without properly addressing the negative climate impacts of their company. Some criticise carbon credits as a 'pay-to-win' system, allowing businesses to just throw money at the climate crisis and engage in greenwashing – pretending to be an eco-friendly company before actually doing anything positive for the planet. The biodiversity credits system presents a similar risk if not regulated properly. Businesses could generate credits without having a measurable impact on the environment, stagnating environmental action. In comments made via the Science Media Centre, Sebastian Gehricke, a senior lecturer in finance and director of the Climate and Energy Finance Group at the University of Otago, echoed this concern. 'The global voluntary carbon credit markets face significant scrutiny around the credibility and integrity of credits,' he said. '[As] we're still grappling with the complexities of carbon, something comparatively easier to quantify, then I am really concerned about applying similar models to nature and biodiversity, which are far more complex to quantify and very context dependent.' While Forest & Bird cautiously welcomed Hoggard's announcement, saying it was a 'useful step' that would 'help support people and organisations who wish to voluntarily invest in biodiversity', the potential for greenwashing was also a concern. 'We need to ensure that any external biodiversity incentive system has high integrity and is sustainable – that real, enduring outcomes for nature are achieved and it is not used to mask environmental damage,' said Richard Capie, Forest & Bird's group manager for conservation advocacy and policy. Gehricke was sceptical of the lack of detail in Hoggard's announcement of what the government actually plans to do. 'It appears the government is indicating potential future involvement in a market that private actors are already working to develop. This isn't so much a clear incentive as it is a signal of interest,' said Gehricke. 'Shifting focus toward a voluntary credit market, which is still in its early stages, risks diverting attention from the more immediate and proven impact of regulatory protections.' The broader policy context was important, he said, pointing to the SNA suspension referenced in the press release and other 'significant climate and environmental protection policies' the government had 'recently rolled back'. 'Making a statement of vague support for a 'nature credit market' does not compensate for the tangible loss of safeguards that were already in place, and which many experts already considered insufficient.' Similarly, Green Party agriculture spokesperson Steve Abel called the nature credits announcement 'a bandaid on a gaping wound'. 'While credit schemes and covenants are an important pathway to protecting vital biodiversity on farmland, these alone are not nearly enough to address the biodiversity crisis in Aotearoa,' he said. 'One tiny step in the right direction does not make up for the significant damage this government is doing to the environment in many ways.' He also expressed concern that 'market and corporate-driven biodiversity credits can be little more than a greenwashing tool – and there's proven to be very little demand without regulatory requirements for them'.
