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Work on Gadag-Kudgi-Hotgi double line initiated
Work on the Gadag-Kudgi-Hotgi double line was initiated on Friday along with the inauguration of a shelter for the second platform at the Gadag Railway Station.

In the presence of Minister for Rural Development and Panchayat Raj and district-in-charge of Gadag H.K. Patil and others at Gadag Railway Station on Friday, Minister for Railways Suresh Prabhu initiated the work through video link from Rail Bhavan in New Delhi. Mr. Prabhu also initiated the work on Gadag-Wadi section in Koppal on the occasion.

Addressing the gathering through the video link, Mr. Prabhu said that as Karnataka was important for Indian Railways, the highest ever funds had been allocated to the State in the budget. “Indian Railways is in transformation mode and is focussing on improving rail infrastructure and passenger amenities like never before. Cleanliness and Make in India programmes have been successfully implemented in Indian Railways. High-speed railway network is being worked upon and soon, we will operate trains at 200 kmph on trunk routes,” he said.

After the formal inauguration from the Railways Minister, a simple programme was held at the Gadag Railway Station in which, Mr. Patil unveiled a plaque to mark the foundation laying ceremony for the double lining project. Mr. Patil also inaugurated the new platform shelter for platform No 2 at the station.

The Minister told the railway officials that if they sent a proposal for land acquisition required for Gadag-Laxmeshwar-Yelavigi railway line, he would take up the issue with the State government and get the required sanction.

A host of elected representatives, including MP Shivakumar Udasi, president of Gadag Zilla Panchayat Vasanna Kuradagi, MLC Basanagouda Patil Yatnal, Deputy Commissioner of Gadag Manoj Jain and senior officials of South Western Railway were present.

http://www.thehindu.com/todays-pape...tgi-double-line-initiated/article19522231.ece
 
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https://www.theguardian.com/world/2...d-after-indian-train-derails-in-uttar-pradesh

At least 23 dead after Indian train derails in Uttar Pradesh
The tragic crash is the fourth major derailment incident on India’s struggling rail network this year
Reuters in New Delhi and Mumbai

Sunday 20 August 2017 01.58 EDT
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Rescue workers and local volunteers are still searching for survivors. Photograph: AP
At least 23 people have been killed and more than 120 injured after a train came off the tracks in India on Saturday.

Rescuers and local people in the northern state of Uttar Pradesh worked into the night searching for survivors in the overturned and mangled carriages. Officials have said they expect the death toll to rise.

At least eight carriages derailed at roughly 5.46pm local time, about 80 miles (130km) north of the capital New Delhi, as the train travelled towards the Hindu holy city of Haridwar, police said.

Train crashes are frequent in India, which has the world’s fourth biggest rail network. Poor investment in the vast network and rising demand has left overcrowded trains running on creaking infrastructure.

Saturday’s accident is at least the fourth major passenger train derailment this year and the third in Uttar Pradesh in 2017. A crash in the region in November killed 150 people.

A senior police officer in the state, Anand Kumar, said 20 people had been killed and more than 80 injured.

Sanjeev Balyan, a lawmaker from Muzaffarnagar, the city nearest to the crash, had earlier told Reuters that at least 14 people had been killed.

Ajay Pandey, a senior police officer at the site, said: “We are struggling to pull out injured, and are waiting for gas cutters to arrive. It’s too dark to launch a full fledged search operation, but our teams are trying their best.”

The national authorities have dispatched disaster teams to help.

India’s prime minister, Narendra Modi, sent a message on Twitter saying he was pained by the derailment of the Utkal Express, offering condolences to families of those killed and wishing a speedy recovery to the injured.

The network is in the middle of a $130bn, five-year modernisation. The government launched the additional safety overhaul programme in February after a surge in train accidents in the past two years was blamed on defective tracks.

A senior official in the Uttar Pradesh government, Arvind Kumar, told the Hindustan Times the train driver had slammed the brakes on after spotting maintenance work on the tracks that was not properly signalled.

Anil Saxena, a spokesman for the railways, said it was too early to speculate about any potential cause of Saturday’s crash.

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Ministry of Commerce & Industry
18-August, 2017 18:44 IST
Web Based System for Online Processing of Application for ICD/CFS/AFS
(An Initiative under ‘Minimum Government Maximum Governance’)

The Government has simplified the process for companies to set up an Inland Container Depot/ Container Freight Station (CFS)/Air Freight Station (AFS). The improved procedure is aimed at ensuring a speedier and more transparent approval process. Towards this objective, companies can now make their application online and view its progress/update on-line, without a visit to any government office. Also this is a pioneer attempt as a major Inter-Ministerial IT application rather than a mere Intra-Ministerial IT initiative.

The approval process for setting up an ICD/CFS/AFS involves many departments. This is facilitated through an Inter-Ministerial Committee (IMC) which consists of officials from Ministries of Commerce, Finance (Dept. of Revenue), Railways and Shipping. If required, the view of the respective State Government is also sought. This IMC is housed in the Department of Commerce which is mandated to act as a single window for the approval process.

CURRENT PROCESS

In the current process the applicant submits as many as ten physical copies of the application form with the requisite documents to the Infrastructure Division at Department of Commerce (DoC), New Delhi, besides one copy with the Jurisdictional Commissioner of Customs.

The current process of examination of the application is very cumbersome and the application form is very bulky with the ancillary material running into almost 500-1000 pages. This is initially scrutinized by the Department of Commerce for adherence to the land acquisition guidelines. Copies of the application are then sent to Ministry of Railways, Shipping, Civil Aviation and Department of Revenue (CBEC) for scrutiny and comments. Department of Revenue (CBEC) then sends the copies of this application to the Jurisdictional Commissioners in the field and thereafter on receiving a report from them sends their clearances to Department of Commerce. Upon receiving the comments from the Ministry of Railways, Shipping, Civil Aviation and Department of Revenue (CBEC), Department of Commerce convenes the meeting of Inter-Ministerial Committee where the application is reviewed on the basis of the comments received, and a decision taken on issue of the Letter of Intent (LoI) to the applicant.

Upon receiving the approval, the applicant is required to set up the infrastructure within one year from the date of approval. The IMC may grant an extension of six months after reviewing the justification for delays given by the party.

After the applicant has put up the required infrastructure, conformed with the security standards of the Jurisdictional Commissioner of Customs and provided a bond backed by bank guarantee to the Customs, a final clearance and Customs notification is issued by the Customs department which then declares the facility operational.

IMPROVED PROCESS

There have been frequent complaints from the Stakeholders (applicants) that the manual process is very cumbersome and not only does it result in loss of documents in the transit but also there is lack of transparency regarding the status of various clearances by the various agencies/departments. There have been persistent demands from the various stakeholders to streamline the processes and therefore, Department of Commerce embarked upon a project to have the complete process made online for the convenience of the applicants.

Now with the culmination of the project, the backend process will also be online and the applicant can see the various stages of processing of his application in the various Ministries/Departments as it is visible online.

Apart from saving reams of paper, the process also brings about greater transparency by disclosing the status of the application. This includes sending out SMS and Email alerts to keep all the stakeholders abreast with the progress.

This approach was conceived under the broader umbrella motto of the government – “Minimum Government, Maximum Governance” espoused by honourable Prime Minister Shri Narendra Modi

******

Ministry of Railways
18-August, 2017 15:13 IST
Minister of Railways Shri Suresh Prabhakar Prabhu Inaugurates/ Dedicates Various Initiatives pertaining to State of Karnataka

In order to make the rail journey more comfortable and remarkable, Indian Railways has been launching various services and projects. In this direction, Minister of Railways Shri Suresh Prabhakar Prabhu Dedicated/ Inaugurated following initiatives pertaining to Karnataka through video-conferencing from Rail Bhawan today i.e. 18-08-17 : -

1. Commencement of work of Hotgi-Kudgi-Gadag Doubling.

2. Commencement of work of Gadag-Wadi New Line.

3. Dedication to the Nation-Doubling of Tinaighat-Londa-Shivthan Section in Hospet-Tinaighat-Vasco Doubling.

4. Dedication to the Nation-Doubling of Banapur-Koppal in Hospet-tinaighat-Vasco Doubling.

5. Construction of new station building & extension of platform shelter at Chikkodi Road station.

6. Extension of platform shelter at Rayabag station.

7. Provision of Platform shelter on Platform no. 2 at Gadag station.

8. Construction of new Platform 2 & 3 at Koppal station.

9. VIP Lounge at Shivamogga Town station.

10. 500 Kwp Solar Roof Top System at Mysuru Work Shop.

11. Provision of water conservation & recycling plant at Mysuru station.

12. Dedication of Foot Over Bridge at Holenarasipura station.

13. New DEMU Service between Baiyappanahalli-Whitefild-Baiyappanahalli.

14. Commencement of work of ROB at LC 438 at Rayabag.

15. Laying of foundation stone for Bye-pass lines at Wadi.

16. Commissioning of Rail Bogie Karkhana, Yadgir (RVNL).

17. Laying of foundation stone for doubling between Nethravathi and Mangalore Central stations (at Mangalore Central Railway Station).

18. Laying of foundation stone for new FOB at Mangalore Central station (at Mangalore Central Railway Station).


Minister of State for Railways Shri Rajen Gohain was specially present to grace the occasion. Member Engineering, Railway Board, Shri Aditya Kumar Mittal, other Railway Board Members and senior officials were also be present on the occasion.


Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said, “Karnataka is an important state for Indian Railways, we have allocated highest ever funds in the Budget for developing Railway Infrastructure in Karnataka. Indian Railways have formed JV with the State Government of Karnataka. Indian Railways is in transformation mode, Indian Railways have been focusing on improving Rail Infrastructure & passenger amenities like never before. Cleanliness & Make in India programmes have been successfully implemented in Indian Railways. High Speed Railway network is being worked upon Indian Railways. Soon, Indian Railways is working on the project to operate trains at 200 Kmph on trunk routes like Delhi- Mumbai, Delhi- Kolkata.


Salient Features of Projects launched today

1. Commencement of work of Hotgi-Kudgi-Gadag Doubling.


● At present, Hotgi-Kudgi-Gadag route is a single line rail link between Guntakal-Pune-Mumbai and Hospet-Hubli-Goa rail routes.

● A number of Integrated Steel Plants/Power Plants/Cement Plants are coming up along the Hotgi-Kudgi-Gadag route. This doubling work will provide the necessary line capacity for introduction of additional trains and smooth movement of rakes to/from the industries/power plants.

● Part length for this Doubling project, i.e. from Hotgi-Kudgi (134 km) has been taken up under “Customer Funding Model” with National Thermal Power Corporation Limited (NTPC). NTPC is setting up the Thermal Plant at Kudgi station of 4000 MW capacity.

2. Commencement of work of Gadag-Wadi New Line.


● The new rail line would provide a direct shorter route for the people of the area in Gadag, Koppal, Raichur and Gulbarga areas of Karnataka.

● Proposed route will shorten the distance between Gadag and Secunderabad by 150 km.

● Project is 50:50 Cost Sharing basis with Government of Karnataka (GoK) and land free of cost by GoK.

3. Dedication to the Nation-Doubling of Tinaighat-Londa-Shivthan & Banapur-Koppal of Hospet-tinaighat-Vasco Doubling.


● The Railway line passes through Bellary, Koppal, Gadag, Dharwad, Belgaum and Uttara Kannada districts of Karnataka State. Bellary-Hospet region in Karnataka is the heart of Iron ore industry in the country. Iron ore from this region is transported to Chennai and Goa ports for export.

● The doubling of railway track is also necessary to move imported coal from Marmagao Port to the Steel industries and upcoming Thermal Power Plants in Jevargi In Gulbarga District, Thermal Expansion Phase-2 in Bellary Dist. in North Karnataka.

● In this Project, 28.75 km doublings have been commissioned and being dedicated to Nation.


4. Construction of new station building & extension of platform shelter at Chikkodi Road station.


● A new station building with built up area of 275 Sq. Meter has been constructed at Chikkoddi Road Station. Improvement to circulating area is done by providing paver blocks for area of 500 Sq.M. to improve the aesthetics of this station.

● For convenience of passengers, platform at Chikkodi Road railway station has been extended by 320 meter with cement concrete flooring. New platform shelter has been provided for a length of 64 meter with seating arrangements. Above amenities towards improvements of Chikkodi Road Station were taken up at a cost of Rs. 15 Lakhs


5. Extension of platform shelter at Rayabag station.


6. Provision of Platform shelter on Platform no. 2 at Gadag station.


7. Construction of new Platform 2 & 3 at Koppal station.


● Along with the doubling of Hosapete- Tinaighat railway line, Koppal railway station was provided with an additional platform No. 2/3.

● This is a high level island platform having length of 540 meters which has been constructed within a time span of 2 months, and at a cost of Rs.60 lakhs.


8. VIP Lounge at Shivamogga Town station.


● Shivamogga town is an important A category station of Mysore Division which attracts large number of tourists in the Malnad area of Karnataka. This station has been further upgraded by providing majestic VIP lounge. The VIP lounge is provided with proper ambience with granite flooring and cladding, air-conditioned seating arrangement with Sofa set, Luggage rack and improved bath-cum toilet facilities with hot and cold water. This facility to a great extent will grant better waiting experience to the travelling passengers visiting Shivamogga station.


9. 500 Kwp Solar Roof Top System at Mysuru Work Shop.


10. Provision of water conservation & recycling plant at Mysuru station.


● The water consumption at Mysuru junction is quite high. The demand of water is being arranged through Municipal Corporation with hefty payment to the tune of Rs.18.00 Lakhs per month (Rs 2.16 crores per annum).

● It is proposed to set up one water Recycling Plant of 4.00lakh liters capacity for using recycled water, which will have environmental benefit as well as economy by bringing down the reduction in the water bills.


11. Dedication of Foot Over Bridge at Holenarasipura station.


● Holenarasipura is important D category station of Mysuru Division which is a famous for an important ancient Narasimha Temple dedicated to Lord Narasimha and river Hemavati, one of the many tributaries of the Kaveri.

● Being the important tourist destination, the station was identified for upgradation as Adarsh station during year 2015-16. The important Passenger Amenity works to the tune of Rs.2.85 crores are added to upgrade the station as per norms of Adarsh station.

● The work has been completed in stages and foot over bridge has been completed in the month July-17. After commissioning of foot over bridge at Holenarasipura, will have all required facilities as per Adarsh station norms.


12. New DEMU Service between Baiyappanahalli-Whitefild-Baiyappanahalli.


13. Commencement of work of ROB at LC 438 at Rayabag.


14. Laying of foundation stone for Bye-pass lines at Wadi.

● Wadi station is strategically located at the junction of 3 Divisions –Sholapur, Guntakal & SC Division . Though bye-pass exists towards Secunderabad(SC) from Guntkal(GTL), yet, heavy detentions occur due to interlocking arrangements and large no. of cross movements.

● The proposed Bye-pass between Wadi and Nalwar reduces the distance by about 12 Kms and is the most effective option to decongest Wadi Yard besides avoiding cascading detentions at adjoining stations.


15. Commissioning of Rail Bogie Karkhana, Yadgir (RVNL).


16. Laying of foundation stone for doubling between Nethravathi and Mangalore Central stations (at Mangalore Central Railway Station).


● The doubling of this section will facilitate running of additional mail/Express trains from MAQ, since MAQ is an important feeder Coaching terminal to Konkan Railway, Mysore/Bangalore directions and to the Entire State of Kerala and Tamilnadu.


17. Laying of foundation stone for new FOB at Mangalore Central station (at Mangalore Central Railway Station).


*****
 
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Ministry of Railways
19-August, 2017 13:40 IST
Minister of Railways Shri Suresh Prabhakar Prabhu Inaugurates/ Dedicates Various Initiatives pertaining to State of Tamil Nadu/ Kerala

Indian Railways is heralding in a new era vying for a turnaround in the system. To cater to the diverse rail needs of the burgeoning populace, an array of modern facilities and services are being inducted into the system progressively. With focus on key areas such as infrastructural development, cleanliness, safety and security, Indian Railways has embarked on a journey of transformation. In this direction, Minister of Railways Shri Suresh Prabhakar Prabhu Dedicated/ Inaugurated following initiatives pertaining to Tamil Nadu & Kerala through video-conferencing from Rail Bhawan today i.e. 19-08-17


Initiatives taken in Tamil Nadu



1. Inauguration of additional rest room at new concourse at Chennai Central station (at Chennai Central Railway Station).

2. Dedication to the Nation-LED lighting at Chennai Central (at Chennai Central Railway Station).

3. Inauguration of new foot over bridge at Tiruvottiyur station (at Chennai Central Railway Station).

4. Inauguration of new booking office at western side of Guindy station (at Chennai Central Railway Station).

5. Inauguration of two escalators at Chepauk station on Platform no. 1 & 2 (at Chennai Central Railway Station).

6. Dedication to the nation-Hi speed Wi-fi facility at Chengalpattu Junction (at Chennai Central Railway Station).

7. Dedication to the Nation-Hi speed Wi-fi facility, Information Centre & CCTV Cameras at Katpadi Station. (at Chennai Central Railway Station).

8. Dedication to the Nation-food plaza at Arakkonam (at Chennai Central Railway Station).

9. Dedication to the Nation-App based cab service for passengers at Tiruchichirapalli junction station (at Tiruchchirappalli Junction Railway Station).

10.Dedication to the Nation-new parking facility for passengers at stations of Tiruchchirappalli Division (Papanasam, Mannargudi, Tiruchchirappalli Fort & Tiruchchirappalli Junction) (at Tiruchchirappalli Junction Railway Station).

11. Dedication to the Nation-doubling of Manapparai - Kalpattichatram Section (at Madurai Junction Railway Station).

12. Dedication to the Nation- 5 Limited Use Sub-ways in lieu of LC Gates no. 406, 491, 496, 536 & 14 in Madurai Division (at Madurai Junction Railway Station).

13. Dedication to the Nation-3 Foot Over Bridges at Sholavandan, Ambaturai and Samayanallur stations of Madurai Division (at Madurai Junction Railway Station).

14. Dedication to the Nation-New VIP Lounge at Salem Junction station (at Salem Junction Railway Station).

15. Dedication to the Nation-Extension of foot over bridge to the second entry of Salem Junction station (at Salem Junction Railway Station).

16. Dedication to the Nation- foot over bridge at Samalpatti station (at Salem Junction Railway Station).


Initiatives taken in Kerala


1. Inauguration of AC paid waiting hall at 2 stations Thiruvananthapuram and Quilon in association with Kudumbasree (at Thiruvananthapuram Railway Station).

2. Dedication to the Nation-foot over bridge at Kochuveli connecting both entry (at Thiruvananthapuram Railway Station).

3. Dedication to the Nation-10 concrete benches at Quilon Junction station funded by Hon’ble MP Shri Suresh Gopi through MPLAD (at Thiruvananthapuram Railway Station).

4. Dedication to the Nation-doubling of Tiruvalla-Chenganasseri section (at Ernakulam Junction Railway Station).

5. Inauguration of passenger lift at Chengannur Junction on Platform no. 1 (at Ernakulam Junction Railway Station).

6. Inauguration of one passenger lift at Ernakulam Junction on Platform no. 1 & 2 / 3 (at Ernakulam Junction Railway Station).

7. Dedication to the Nation-4 Water Vending Machines at 3 stations of Thiruvananthapuram Division (Ernakulam Junction-1, Ernakulam Town-2 and Aluva-1) (at Ernakulam Junction Railway Station).

8. Inauguration of 2 lifts at Kannur station on Platform no. 1, 2 / 3 (at Kannur Railway Station).


Mohd Jamshed, Member Traffic, Railway Board, other Railway Board Members and senior officials were also present on the occasion.


Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said, “Indian Railways has been focussing on providing better passenger amenities & augmenting capacity. There has been tremendous increase in the budget allocation for building Railway Infrastructure in states of Tamil Nadu & Kerala. Indian Railways is aiming at building better Railways for everyone by participation of all.”


Salient Features of Projects launched today


At Chennai Central Railway Station (Tamil Nadu)

1) Inauguration of Additional Rest Room at New concourse at Chennai Central Station-


The Pay & Use Toilet in new concourse of Chennai Central has been renovated at cost of Rs. 60 Lakhs with state-of-the art amenities. The concept wall in the frontage gives a pleasing ambience to the facility.


2) Dedication to the Nation – LED Lighting at Chennai Central Station-


A total of 2388 nos. of conventional lights of various wattages have been replaced with 2402 nos. of energy efficient LED lights of various wattages. Facilitated at a cost of Rs.50 lakh, these energy efficient lighting will result in reduction in carbon emission of 262 MT per year, savings to the tune of 60 lakh units and Rs.60 lakh per month.


3) Inauguration of New Foot Over Bridge at Tiruvottiyur Station (Tamil Nadu)

The new Foot Over Bridge will provide access to the travelling public from both East side and West side of the station yard to reach platform Nos. 1 & 2/3 at Tiruvottiyur station. The project has been commissioned at a cost of Rs. 1.44 lakh.


4) Inauguration of new Booking Office at Western side of Guindy Station(Tamil Nadu)-


The Reservation cum booking office is newly constructed on the Western side of the Guindy Railway Station facing GST Road. The building has been constructed in an area 195 sq.mtr at the cost of Rs. 48.75 lakhs. Equipped with 7 ticket counters, both UTS and PRS tickets can be booked here.


5) Inauguration of 2 Escalators at Chepauk station (Tamil Nadu) on PF No.1 & 2-


Two nos. of passenger escalators have been commissioned at Chepauk Railway station in place of old defective escalators to platform no.1 and platform no.2. The cost of the Project isRs. 1.36 Crore. Being elevated stations in MRTS section, these escalators facilitate the easy movement of passengers especially senior citizens.


6) Dedication to the Nation – Hi-Speed Wi-Fi facility at Chengalpattu Jn station (Tamil Nadu)-


High speed Wi-Fi commissioned by RCIL in collaboration with Google will cover all the 6 platforms, circulating area and VIP lounge at Chengalpattu Jn. Each access point has the capacity to cater about 200 – 250 subscribers at a time.


7) Dedication to the Nation - Hi-speed Wi-Fi facility, Information Centre and CCTV Cameras at Katpadi Jn station (Tamil Nadu).

CCTV surveillance camera at Katpadi Railway station

Surveillance camera system has been installed at Katpadiwith total 42 No of IP based digital cameras monitored centrally in the control room manned by RPF personnel. Installed at a cost of Rs.1.2cr, these cameras will help check the crimes against passengers in the station premises.

Information Centre at Katpadi Railway Station

Information centre at Katpadi station brings all the different type of passenger information facilities under one roofthrough which data can be fed to all the information boards. It is setup with one number of PC based announcement and information display system and NTES terminal. The centre is provided at a cost of Rs. 33.6 lakh.

Wi-Fi system at Katpadi Railway Station

High speed Wi-Fi commissioned by RCIL in collaboration with Google covers all the 5 platforms of Katpadi station. Each access point has the capacity to cater about 200 – 250 subscribers at a time.

8) Dedication to the Nation -Food Plaza at Arakkonam Jn station (Tamil Nadu)-


To tickle the taste buds of customers with choicest delicacies, IRCTC has set up a Food Plaza at Arakkonam Jn in an area of 1752 sq.ft.



II. Tiruchchirappalli Junction (Tamil Nadu)


9) Dedication of APP BASED CAB SERVICES to the Nation :



APP BASED CAB SERVICES have been facilitated at Tiruchchirappalli first Entry in Unit II & III with anarea coverage of 210 sq.mt. with a total capacity of 20 cabs. Introduction of these services will give positive impact on Non Fare Revenue and will boost the image of Railways among travelling public.


10) A. Dedication of Parking Spaces at Tiruchchirappalli Junction (Tamil Nadu)


i) TPJ II Entry Premium Car Parking:

An Exclusive area for car parking with an area coverage of 855 sq.mt. at Tiruchchirappalli Junction II Entry with 50 cars parking capacity has been provided.

ii) TPJ I Entry Premium Two Wheeler Parking:

A New Premium Two Wheeler Parking with a huge area coverage of 9000 sq.mt. at Tiruchchirappalli Junction I Entry, exclusively earmarked for Two Wheeler Parking with a total capacity of 5000 Two Wheelers has been facilitated.



iii) TPJ I Entry Car Parking

The New Car Parking at Tiruchchirappalli I Entry with an area coverage of 895.5 sq.mt. with the total car parking capacity of 58 cars has been provided.


B. Dedication of Parking Spaces at Tiruchchirappalli Fort Railway Station (Tamil Nadu)


A new parking space with an area coverage of 1965 sq.mt.for exclusive purpose of parking of four wheelers with a total capacity of 100 cars has been provided. A new vast 9000 sq.mt. area for the purpose of parking of Two Wheelers and Four Wheelers with total capacity of 2500 Two Wheelers and 250 cars has also been facilitated.


C, Dedication of Parking Space at Mannargudi Railway Station (Tamil Nadu)

A New parking area for the purpose of parking of Two Wheelers and Four Wheelers with an area coverage of 4292 sq.mt. with total parking capacity of 1500 Two Wheelers and 125 Cars has been provided.


D. Dedication of Parking Space at Papanasam Railway Station (Tamil Nadu)

A New Parking area for the purpose of parking of Two Wheelers and Four Wheelers with an area coverage of 2500 sq.mt.with total parking capacity of 750 Two Wheelers and 50 cars has been facilitated.


III.Madurai Junction Railway Station (Tamil Nadu)


11) Dedication of doubling between Manapparai-Kalpattichatram section (23km)

As part of Villupuram – Dindigul doubling project, doubling between Manapparai-Kalpattichatram section (23km) has been completed and commissioned for traffic.


12) Dedication of 5 Limited use Subways in lieu of LC gates

To ease traffic congestion and to minimise trespassing accidents, 5 Limited Use Subways were constructed in lieu of LC gates in Madurai Division. This will provide safer access to railway stations also.



13) Dedication of 3 Foot Over Bridges at Sholavandan, Ambaturai and Samayanallur stations

Foot Over Bridges constructed at Sholavandan, Ambaturai and Samayanallur stations will immensely benefit commuters as they can reach their Platforms and entry/exit points easily.


IV. Salem Junction Railway Station (Tamil Nadu)


14) Dedication of New VIP Lounge at Salem Jn


To receive and host the VIPs visiting Salem Junction, the new VIP Lounge is being located at PF No.1 near the main concourse area. This air conditioned VIP Lounge will serve the VIPs/Dignitaries arriving at/departing from Salem Junction, round the clock. This lounge has a seating capacity of 12 persons and has been provided with an attached toilet facility.


15) Dedication of extension of Foot Over Bridge to the second entry of Salem Junction



The western side of the Salem Junction is being developed to decongest the junction premises, by shifting major functions there, since sufficient space is available on the other side. With a view to facilitate passengers reach the second entry, the present FOB that was so far connecting PF No. 1, 3/4, and 5 has been extended to the second entry of Salem Junction, at a cost of Rs.1 crore (approximately). This will assist development of second entry to Salem Junction.


16) Dedication of Footover Bridge at Samalpatti Station :


Samalpatti Station in the Jolarpet-Salem Section is one of the important stations in Salem Division, with stoppage of 5 express trains and 6 passenger trains. Earlier, passengers were using the trolley path at the end to reach PF No.2, from PF 1 and vice versa. With a view to assist passengers reach PF No.2 safely and comfortably, a new FOB has been constructed in Samalpatti, at a cost of Rs.1 crore (approximately).






V. Trivandrum Central Railway Station (Kerala)


1) Dedication of AC Paid waiting Rooms with Kudumbasree


AC Paid waiting room at Trivandrum Central with seating capacity of 48 passengers has been set up in association with Kudumbashree, an all women Self Help Group under Govt. of Kerala. At Kollam station also the facility is manned by Kudumbashree and the hall has a seating capacity of 40. A mini library, TV, washrooms and a kids play zone are additional features of these AC waiting hall. A reasonable entry fee of Rs.25/hour is charged



2) Dedication of FOB at Kochuveli (Kerala)


A Foot Over Bridge at Kochuveli would alleviate the difficulty of commuters as they can access Platforms as well as both entries of the station. The FOB, constructed at a cost Rs-2.5 crore, is the longest one in Kerala.


3) Dedication of 10 Concrete Benches at Kollam Funded By Shri Suresh Gopi, MP(RS) through MPLAD at a cost of Rs-1 Lakh, 10 concrete benches are provided at Kollam Jn.


VI. Ernakulam Junction Railway Station (Kerala)


4) Dedication of Double Line between Tiruvalla – Changansseri- Work on double line between Tiruvalla-Changanasseri section of 7.94 km length completed and Line commissioned on 28-03-17. Two additional Lines with full rake unloading facility and a platform with 26 coach capacity was also commissioned along with the work at Tiruvalla.


5) Inauguration of Passenger lifts at Chengannur - Lifts are provided to assist the people with disability, the elderly, the women and the children among others. In addition, installation of Lifts at Railway Stations, Platforms will help to boost the image of Railways in public eye and Railways commitment to valuable Rail users.


6) Inauguration of Passenger lifts at Ernakulam Jn- A lift has been commissioned at PF No.1 and at Ernakulam Jn, 2 lifts have been commissioned, at PF1 and PF2/3. Ernakulam and Chengannur lisfts are commissioned at estimated cost of 37 lakhs.


7) Dedication of Water Vending Machines at Tiruvananthapuram Division- Taking forward the Railways’ mission to provide clean drinking water at stations IRCTCis installing water vending machines at Aluva, Ernakulam Jn, Ernakulam Town.


VII. Kannur Railway Station (Kerala)


8) Dedication of 2 Passenger Lifts at Kannur Railway station

To facilitate easy access to Platform No.1 and 2/3 at Kannur station, 2 passenger lifts have been installed. This will benefit differently-abled, sick and senior citizens.


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Cabinet
23-August, 2017 17:02 IST
Cabinet gives in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism (AM)

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism (AM). The decision would facilitate consolidation among the Nationalised Banks to create strong and competitive banks.


Salient features:



The salient features of the approval Framework for Consolidation of Public Sector Banks are as follows:


· The decision regarding creating strong and competitive banks would be solely based on commercial considerations.

· The proposal must start from the Boards of Banks.

· The proposals received from Banks for in-principle approval to formulate schemes of amalgamation shall be placed before the Alternative Mechanism (AM).

· After in-principle approval, the Banks will take steps in accordance with law and SEBI’s requirements.

· The final scheme will be notified by Central Government in consultation with the Reserve Bank of India.



Background:


In 1991, it was suggested that India should have fewer but stronger Public Sector Banks. However, it was only in May 2016 that effective action to consolidate public sector banks began to be taken by announcing amalgamation of six banks into the State bank of India. The merger was completed in record time, unlike earlier mergers of State Banks of Indore and Saurashtra.


SBI is now a single bank with about 24000 branches, over 59000 ATMs, 6 lakh POS machines and over 50,000 business correspondents, which serve all parts of the country, including far flung areas. Indeed 70% of SBI’s network lies in rural and semi urban areas. In that sense, the bank serves to unite India through a uniform banking culture. It also has a significant international presence, and is one of the largest global banks. Its size, financial strength and outreach have made it possible for customers to access a worldwide network of branches across all time zones, as well as to a very wide variety of banking products and superior technology. Loans to the small business man or woman and to the Krishak have become cheaper as SBI offers the lowest lending rates. More than 8.6 lakh merchants have been on board on BHIM Aadhaar, Bharat QR and POS, increasing the digital banking footprint. SBI has successfully raised Rs.15,000 crore QIP.


There are now 20 PSBs other than SBI. The banking scenario has changed since 1970/80 when banks were nationalised, with an increased banking presence from Private Sector Banks, non-banking Financial Companies, Regional Rural Banks, Payment Banks and Small Finance Banks. The decision is expected to facilitate the creation of strong and competitive banks in public sector space to meet the credit needs of a growing economy, absorb shocks and have the capacity to raise resources without depending unduly on the state exchequer.


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Cabinet
23-August, 2017 15:52 IST
Cabinet approves transfer of 40 acres of AAI land at RR station, Dahisar to MMRDA for its metro shed swapping with 40 acres of State Government land at Gorai, Mumbai

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has given its approval for transfer of 40 acres of Airports Authority of India (AAI) land at RR station, Dahisar to Mumbai Metropolitan Region Development Authority (MMRDA) for its metro shed swapping with 40 acres of State Government land at Gorai, Mumbai. The land transaction will enable MMRDA to complete the Metro rail project in Mumbai.


Modalities:


While considering the proposal, the Cabinet has approved following modalities:

i. MMRDA will pay the difference in cost of land of 40 acres, as per the stamp duty ready reckoner rate based on 2016-17 arrived at Rs. 472.70 crore or as per the ready reckoner rate at the time of final handing over of land, whichever is higher.

ii. MMRDA will hand over the 40 acres of land at Gorai after leveling, grading and demarcating the boundary in all respects. MMRDA will also hand over all the land documents, revenue maps of Gorai land duly mutated in the Records of Rights in the name of AAI.

iii. MMRDA will identify / demarcate 40 acres of land retaining 24 acres of land for AAI, with clear access / approach from the nearby city road.

iv. AAl will also handover at least 2000 sqm. of land at Dahisar in advance on temporary basis.



Employment Generation Potential:

The present proposal will generate employment for skilled, semi-skilled labourers along with job opportunities for technical experts, also there will be creation of jobs in manufacturing industries involved in the metro construction work. After operationalisation of Metro Car Shed, there will be generation/ creation of direct/indirect employment.

Background:



Maharashtra Government is implementing Mumbai Metro Rail Master Plan (146.50 Km) in phases to augment the overall public transport capacity of Mumbai. A special purpose vehicle namely, Mumbai Metro Rail Corporation (MMRC) under the MMRDA has been erected for implementing the Mumbai Metro project. MMRC has planned to construct a car shed on the Dahisar (E) to Andheri (E) metro corridor. A portion of the identified land for car shed i.e. 17.47 Ha (approx. 44 acres) is owned by AAI. AAI owns a total land area of approx. 64 acres at Dahisar where Remote Receiving Station is located. Some part of the land is encroached.



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Cabinet Committee on Economic Affairs (CCEA)
23-August, 2017 15:43 IST
Cabinet approves Closure of loss making Bharat Wagon and Engineering Company

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal of Ministry of Railways to close the Bharat Wagon and Engineering Company Limited (BWEL) - a Central Public Sector Enterprise (CPSE) under Ministry of Railways.

626 employees of BWEL will be benefitted from the voluntary retirement scheme to be offered at 2007 pay scale. The Government will have to provide one time grant off 151.18 crore towards severance package and for clearing the current liabilities of the company.

This measure will stop flow of financial support from public funds for carrying on the operations of sick/loss making BWEL resulting in savings for the Government.

The implementation will be done as per the timelines prescribed in the guidelines issued by Department of Public Enterprises (DPE) on time bound closure of sick/loss making CPSEs.

In view of the continues poor physical and financial performance of the company for more than 10 years, in spite of financial assistance and other support provided by Ministry of Railways combined with low probability of its revival in future, Bharat Wagon and Engineering Co. Ltd. is being wound up.

Background:

BWEL was incorporated on 4th Dec' 1978 as a CPSE after taking over two sick private sector companies - Arthur Butler & Company, Muzaffarpur and Britannia Engineering Company, Mokama. The Company was referred to BIFR (Board for Industrial and Financial Reconstruction) in December, 2000 and was declared sick in the year 2002. The Company continues to be a sick Company since then. The administrative control of the company was transferred from Department of Heavy Industry (DHI) to the MoR in August, 2008, as approved by the Cabinet Committee on Economic Affairs. The company is engaged in the manufacture and repair of wagons, and is having two manufacturing units, at Mokama and Muzaffarpur in Bihar.

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. . . .
Between 2030 And 2035, India To Be The Third Largest Economy
Q: You have spoken about it – that India has a great future and by 2030, probably the Indian economy could become a $7.25 trillion economy to a $10 trillion economy, at an average of 8 to 10 per cent per year. How do you see the evolution of the Indian economy in the next 15 years, and even by 2047?
So, let us take the 15-year period. This is our window of opportunity, China has already slowed down and we are now the only large economy, which is still at a relatively low per capita compared to countries in East Asia and Latin America. So, I think we are in a position to become what China was in the last 15 years. A very broad picture that I would paint is that we should see the acceleration in manufacturing and services and it should also need the acceleration of workforce with respect to the farmers who work on farms that are less than a hectare where you can barely make your living. So, several of those and landless labours as well, those who are migrating to paid jobs in industries and services. That would be the second aspect of the transformation.

So, first is industry and services will accelerate, and second is that the employment pattern will change, meaning we will see workers moving out of agriculture into industries and services and the third aspect of the transformation will be urbanisation.

Urbanisation will happen in two ways, one is through people migrating from rural areas to urban areas. I call it the Mumbai-Shanghai model, where large cities act as magnets for migration but also it will happen through what is currently the rural area turning urban. I call this the Shenzhen model, where originally rural areas turn into urban areas because of the industry growths. So, those are the three and of course, per capita income (PCI) will rise as the transformation happens, and as PCI rises, we will see a lot of expansion of consumer goods from two wheelers to four wheelers to air conditioning and general amenities..

Q: You say that manufacturing and services would expand and grow, what would happen to agriculture?
Agriculture will also grow but proportionately and it is already happening but in a fast-growing economy, agriculture lags behind industry and services. In a fast-growing economy, industry and services typically grow at 9 or 10 per cent and agriculture, if you are lucky will grow about 4 per cent. On a sustained basis, we don’t see agriculture growing at 4 per cent, there might be some exceptional situation where it might happen like our own experience in the 1980s when agriculture was growing at the fastest pace. So, proportionately, the share of agriculture will decline.

Q: Also, of late, there has been a lot of focus on manufacturing, but manufacturing has not taken off in a way it should have, but do you think there will be a course correction in that?
I think that if my story of transformation has to plan out, then, manufacturing has to be a part of it, particularly, of labour intensive manufacturing. Without that, how do you create jobs?

Right now, we have a lot of under-employment, which means people are not being really used to their full potential, their output could be twice or thrice of what it is currently. So, we need manufacturing, particularly the labour intensive manufacturing to grow much more actively.

Q: And you see that happening?

Well, we have to make it happen because now we have a very good window of opportunity because China is already leaving that space, especially if you look at Chinese exports, the shares of products like apparel and textiles have been declining now and somebody will have to come in and fill that space. Some place probably is getting filled right now, particularly in apparel by countries like Bangladesh, Vietnam and Cambodia. But I think that they are too small and China takes much more space, which we should be filling.

Q: You said that manufacturing will give a fillip to jobs. So, do you think that the job has been a problem area so far, and do you see the job prospects growing in the days and years to come?
Again jobs per se have not been such a serious problem. Without jobs actually growing, we couldn’t have grown at 7.5 per cent in the last three years and productivity alone cannot get you that kind of growth. So, jobs have grown. The more substantive problem is of having good jobs, jobs with high productivity and jobs that pay relatively decent wages. Those have been in shorter supply in India and this is the whole issue of the formalisation of the economy; formal sector jobs, which generally will exhibit greater productivity.

We have to bring in global players here also who would then provide better-paid jobs, which would also change the ecosystem of the country such that more dynamic forums become the norm. Right now, I think very tiny enterprises employ disproportionately large part of the workforce but they are working with very low productivity.

Q: There are some studies that, by 2050, India could be one of the top 2 economies. Do you buy this argument?
I connect this issue to the past history. If you come up to about 1820, India and China would probably be half of the global economy. So, in the past, we have been there. I think this is going to happen again. In the global context, China and India will become significantly larger and go towards the older shares, but maybe we will not go as far because, at that time, Europe and the US were really tiny and did not exist in the 16th or 17th century, as we know it today. You got two large portions, Europe and the US; they manage to grow at the rate at which the global economy is growing, then their share will not change. So, we might not get as far as we were but we will substantially get towards those shares.

Q: Do you think US, India and China would be the top 3 economies of the world?
Well, I think Europe will also remain large, but it’s not a country. So, if you think only of countries, then, yes. It’s US, India and China or China, India and US. If I count Europe as a collection of countries and not as an individual country, then US, India and China will be the top 3 economies and this will happen soon. Between 2030 and 2035, India will become the third largest economy.

Q: And the trend will continue for a few years?
I am inclined to think that.

Q: Today, we are talking about a new India, vision for the next five years but probably we have not factored in that the advantages of demographic dividend that we have now may not be there with us 15-20 years down the line. By that time, African countries might be having that demographic dividend and we might not be having that. So, are we prepared for that stage?
See, demographic dividend is only one part of our story. That’s not the only part. Look at China today. China’s demographic dividend is over but it is about $11 trillion economy. So, even if its growth rate is dot to 6 per cent, this 6 per cent on $11 trillion is a lot of growth, which will give you $660 billion or so. So, by the time our demographic dividend is behind us, we are already an $8/9/10-trillion economy. Even if we come down to 5 or 6 per cent then, we will have a very large base. So, we will continue to edge in absolute terms.

Q: What are the areas we need to work on if we are to become the top 2 or top 3 economies in the next few years?
We have to continue becoming a friendlier place to do business and that, of course, means, that any obstacle that exists, we need to keep removing those, we need to do things that bring global firms on our shores, particularly in labour intensive sectors and, for that, we need to improve the infrastructure and more importantly we need to improve the trade facilitation because large global firms sell everywhere in the market. So, the goods have to go in and out fast, that also means our ports have to be more efficient. We can’t live with ports opening for just 8-9 hours a day. They remain open for 24 hours a day in places like Hong Kong and Singapore. Too many clearances are required today for our exports to get out of the door. We need to check what clearances are actually necessary and what is continuing because they have been put in place by the choice of policy.

Q: Do you also, see the need for overhauling the labour laws?
Well, that has to a part of reform also. We need employment friendly labour laws. There has to be a balance between rights and incomes of those who already have the jobs. The balance is a bit unfavourable to the prospects of new jobs, for those who don’t have jobs.

Q: Also, if India is to become top 2 or top 3 economy, what and how important a role will governance play?
Governance is very important. Everything that you talked about just now is governance. Labour laws and the trade facilitation are a part of governance. Movement of goods using roads, ports and airports, is all governance.

Q: And you had the experience with the Modi government; you have interacted with the Prime Minister in other capacities as well. So, how important and what role do you think Modi has played in taking India’s journey to pinnacle heights?
Very important because as you know, when the government came, the economy was in a very tough spot, the growth rate had fallen to 6 per cent or so, inflation was very high even in the first four months of 2014, which were the last four months of the UPA government. Even the current account deficit was large. Many reforms have been done: GST, Insolvency and Bankruptcy and clearance of NPAs is under progress, closure of sick units, privatisation of Air India is on the blocks.
On the education front, we are moving ahead with reform of medical education, we are also moving ahead with the reforms in higher education
. So, on multiple fronts, we are doing well.

Q: You mentioned, on the privatisation front, Modi government is doing well. So, as we move forward, how important a role will privatisation play?
Well, our view, from Niti Aayog, has been that we should privatise enterprises that are basically not serving any public purpose. So, it depends on enterprises that play a public role or don’t play a public role. Then, I think it will be determined by this principle.
http://businessworld.in/article/-Be...The-Third-Largest-Economy-/23-08-2017-124595/

Shrimp Exports: India turns world No 1 in 2016
India claimed the top spot in shrimp exports to the global market in 2016 with an unprecedented 14.5% growth over the previous year, according to a trade report by FAO’s Globefish, which is responsible for information and analysis on international fish trade and markets. The report says that India also achieved the distinction of 130% growth in the exports of value-added shrimp, growing from 10,100 tonne in 2015 to 23,400 tonne in 2016, mostly directed to the US market. India is the second-largest fish producer in the world after China and accounts for nearly 6% of global fish production. Seafood exports from the country hit an all-time high last fiscal with the total revenue touching $5.78 billion, or Rs 37,870.90 crore, by exporting 11,34,948 tonne seafood products, largely due to a robust demand for frozen shrimp and fish. According to Globefish, the top five shrimp exporters to the international market in 2016 were India (438,500 tonne, +14.5%), Vietnam (425,000 tonne, +18–20 %), Ecuador (372,600 tonne, +7.8%), Indonesia (220,000 tonne, +21%) and Thailand (209,400 tonne, +22%). India’s top export markets include the US, Vietnam, the EU and Japan. Indian seafood exports to the US is seen recouping its losses suffered due to the punitive tariff imposed by US department of commerce (USDOC) in 2004 with the help of higher production of vannamei shrimp, which is cheaper than the traditional black tiger.

Seafood exports to the European Union and South Africa have also come under intense scrutiny in the recent past. The EU commission has passed a motion to increase the number of shipments of Indian aquaculture products stopped for checks at the borders to 50% from 10 % earlier. On the global demand for shrimp, the reports says that US, EU and Japanese markets showed a moderate growth. Strong demand was reported from China due to decline in domestic production. International prices remained stable throughout 2016. “Mixed production trends for farmed shrimp were observed in Asian producing countries during 2016, with a total estimated production of around 2.5 million tonne. While disease remained a major concern, adverse weather conditions also had impacts on production, particularly during the first half of the year. Fortunately, supplies recovered in India, Indonesia, Vietnam and Thailand during the second half of 2016,” the report said.

International prices for shrimp remained stable throughout 2016. “In terms of prices, vannamei shrimp prices increased marginally during 2016. In the single-largest import market, the US, there was a 5.5% rise in import prices compared with 2015. US prices for Indian shrimp and Ecuadorean shrimp increased 2.7% and 7.8% respectively,” the report said. Year-on-year imports increased significantly in Vietnam, China, the Republic of Korea and Hong Kong.
http://www.financialexpress.com/economy/shrimp-exports-india-turns-world-no-1-in-2016/821956/

Coal to account for 68% of total power mix by 2026
Coal will remain the foremost fuel preference for India's power sector and is expected to account for around 68 per cent of the total power mix by 2026, BMI Research, a unit of Fitch Group said in a recent report.

"Coal will remain the dominant fuel choice for India's power sector, given the vast domestic feedstock available to power generators," BMI Research said in the report.

The Fitch Group company further said India's power sector will expand rapidly over the coming decade, driven by underlying economic growth, electrification efforts and power sector reform implemented by the government.

"We forecast coal to account for around 68 per cent of the total power mix by 2026, supported by the gradual commissioning of the substantial coal project pipeline...," it said.



The report further said overall, reform in the mining sector since 2015 has drastically improved the availability of coal for the power sector. However, feedstock volatility will remain a downside risk to coal-fired power generation over the coming years.

In August, Coal India announced that 62 coal mining projects out of a total of 120 ongoing projects were suffering from delays, stemming from issues related to forest clearing, land acquisition, and rehabilitation and resettlement.

The share of hydro-power in the Indian power mix will reduce marginally over the coming decade, from around nine per cent currently to just over seven per cent in 2026, this is despite annual average growth rates in hydro-power generation of 3.8 per cent, it said.

"This is due to other sectors, such as coal and gas, out pacing the hydro-power sector in terms of generation growth. There are a number of large-scale hydro projects under construction and in the planning stage, and the government has taken steps to accelerate their development," it added.
http://www.moneycontrol.com/news/bu...f-total-power-mix-by-2026-report-2368943.html

Canada allows entry of Indian pomegranate, banana & okra
Indian bananas, pomegranate, custard apple and okra will soon be available in Canada as the North American country has allowed their import for the first time.

“Canada is supportive of opening its market to us, unlike some other developed economies,” said an official aware of the development. Last year, it had allowed entry to Indian grapes. Pomegranate is likely to be exported in good quantities and also fetch good prices.

“It is expected to be a hit item there,” the official said. The market for okra has been opened on demand from the large and growing Indian diaspora in Canada, the person said. The development comes in the wake of the two countries resuming negotiations for a free trade agreement in goods and services this week after a hiatus of two years with Canadian negotiators coming to India for the talks.

“This move will help create a conducive environment for the talks,” said an industry expert. But more than that, it is good news for Indian consumers as it reflects improved quality of Indian farm produce, the person said. “Canada increasingly opening up its market to us means that more and more of our exporters are meeting their standards.”

Canada has allowed import of these fruits and vegetables from India subject to certain conditions. For example, the consignment should be free from soil, pests, leaves and other plant debris. Also, the origin of the material must be clearly identified on shipping documents.

The official quoted earlier said Canada is not expected to import very large quantities of custard apple and banana because it would not be viable to send these comparatively faster perishable commodities to Canada through sea due to the significant distance.

In 2016-17, India's agro food exports to Canada were $125.5 million, of which fresh mangoes, grapes and other fruit were $2.2 million.
http://economictimes.indiatimes.com...banana-okra/articleshow/60181427.cms?from=mdr
 
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Swelling forex reserves could soon cost RBI in ways very few foresaw
As India’s foreign-exchange reserves march toward the unprecedented $400 billion mark, its central bank faces a costly conundrum.

To keep the rupee stable and exports competitive, it is having to mop up inflows that’s adding cash to the local banking system. Problem is, banks are flush with money following Prime Minister Narendra Modi’s demonetization program last year, leaving them already struggling to pay interest on the deposits in an environment where loans aren’t picking up.
The resulting need to absorb both dollar- and rupee-liquidity is stretching the Reserve Bank of India’s range of tools and complicating policy. Costs to sterilize these inflows have eroded the RBI’s earnings, halving its annual dividend to the government.

"The RBI would be paying more on its sterilization bills than it gets on its reserve assets, so it would cut into its profits," said Brad W. Setser, senior fellow at Washington-based thinktank Council on Foreign Relations. “Selling sterilization paper in a country with a relatively high nominal interest rate like India is costly."


swelling-forex-reserves-could-soon-cost-rbi-in-ways-very-few-foresaw.jpg


Governor Urjit Patel aims to revert to neutral liquidity in the coming months from the current surplus. Lenders parked an average 2.9 trillion rupees ($45 billion) of excess cash with the central bank each day this month compared with 259 billion rupees the same time last year. This peaked at 5.5 trillion in March.

The surge in liquidity has pushed the RBI to resume open-market bond sales as well as auctions of longer duration repos besides imposing costs on the government for special instruments such as cash management bills and market stabilization scheme bonds.

Meanwhile foreign investors have poured $18.5 billion into Indian equities and bonds in the year through June, during which period the RBI has added $23.4 billion to its reserves. Its forward dollar book has also increased to a net long position of $17.1 billion end-June from a net short $7.4 billion a year ago.

swelling-forex-reserves-could-soon-cost-rbi-in-ways-very-few-foresaw.jpg


Consistent buildup in the forward book may have cost the RBI some 70 billion rupees, while total liquidity-absorption costs due to the demonetization deluge from November to June were 100 billion rupees, according to calculations by Kotak Mahindra Bank Ltd. The RBI paid another 50 billion rupees to 70 billion rupees to print banknotes, the bank estimates. A weakening dollar would also have led to losses due to the foreign-currency cash pile, which has traditionally been dominated by the greenback.

After all these expenses, the RBI transferred 306.6 billion rupees as annual dividend to the government, compared with 749 billion rupees budgeted to come from the RBI and financial institutions. More clarity will emerge with the RBI’s annual report typically published in the final week of August.

"This disturbs the fiscal math for the year through March 2018," said Madhavi Arora, an economist at Kotak Mahindra Bank. Assuming everything else stays constant, she estimates the budget deficit may come in at 3.4 percent of gross domestic product rather than the government’s goal of 3.2 percent.
http://m.economictimes.com/markets/...eserve-bank-of-india/articleshow/60184745.cms

Economic fog to clear in India as clutch of data to give clarity
Prime Minister Narendra Modi’s policies over the past year have shaken up the nation’s $2 trillion economy, making it tough for investors and advisers to take its pulse. A clutch of economic releases next week should give some clarity.

The disruption caused by stripping away 86% of cash in circulation and the roll out of a nationwide goods and services tax (GST) has cost India its position as the fastest-growing major economy. Surveys indicate the worst business sentiment since the financial crisis, yet consumers and firms seem convinced that prospects will brighten in the coming months as dust settles following a tax overhaul.

“At this juncture, the Indian economy elicits reactions that span the continuum,” Chief economic adviser Arvind Subramanian said in his economic survey published 11 August. “Optimism about the medium term and gathering anxiety about near-term deflationary impulses simultaneously reign.”

Next week’s numbers will go some way to help the Reserve Bank of India (RBI) decide if its concerns about growth should override a forecast acceleration in inflation. It lowered interest rates this month citing an urgent need to spur private investment and minutes of the meeting showed that Governor Urjit Patel needs more data to assess the outlook.

Here’s what to watch for next week:

GDP growth for April-June

Gross domestic product grew 6.1% January to March, almost a full percentage point lower than economists’ projections and the previous quarter’s pace. Much of the slowdown was attributed to the cash ban, which hurt consumption and investment. While analysts predict growth will rebound to 6.9% in April to June—the first quarter of India’s fiscal year—Morgan Stanley says the headline number will be flattered by the GDP deflator as inflation slowed. So the trend in underlying data will become even more crucial to assess the strength of the economy.

Budget balance for July

The slump in investment has forced Modi to frontload government spending and stimulate the economy. That has deteriorated public finances, with the budget deficit reaching 81 percent of the full-year target in the first three months of the fiscal year started April, compared with 61 percent the previous year. To make matters worse, the central bank halved its dividend to the government as Modi’s cash ban added to the costs of printing new currency. DBS Bank Ltd. is focusing on whether the goods and services tax, implemented July 1, will help bridge the gap.

RBI annual report

The RBI’s dividend slash has dimmed hopes of any direct benefits from the cash ban. However some economists, such as Madhavi Arora at Kotak Mahindra Bank Ltd, are awaiting the annual report for clarity on whether there were any gains from ending currency liabilities or if the RBI broke with recent practice to transfer funds to its contingency reserve. The report will also include details on cost of printing currency and may shed light on whether some Indians chose to not deposit their so-called black money rather than do so and risk investigation, a metric the RBI hasn’t shared almost 10 months since the cash ban was announced. Governor Urjit Patel said last month that the monetary authority was still counting the bills and information would be provided “at the earliest.”

Manufacturing PMI for August

The Nikkei India Purchasing Managers’ Index last month showed business conditions deteriorated the most since the global financial crisis as the GST roiled distribution links across the country. However firms seemed convinced that prospects will brighten as the GST regime becomes clearer, and the August data will indicate if that is indeed happening.
http://www.livemint.com/Politics/Mm...r-in-India-as-clutch-of-data-to-give-cla.html

Wanna know your market's future? India is now where US was in 1980s
The domestic market is in correction mode after hitting the much-awaited 10,000 mark on the Nifty. The Indian market has been on roll over the past couple of quarters on the back of the ongoing reforms taken up by the Modi regime, good monsoon and positive global sentiments. It was a broadbased rally driven by fundamentals and the market has created wealth for investors across segments – be it largecap, midcap or smallcap.

So is there life after 10k? Is the Indian market still worth investing at these levels? Is Indian market still a venue for wealth creation? Let’s discuss it in details. The Indian economy has witnessed a flurry of economic reforms over the past few years. These reforms are disruptive in nature and transformational in character. These reforms would have structural impact on the economy and can help accelerate the expansion in future.

Buoyed by the success of these reforms and increasing political clout, the government is in a position to take few more bitter pills, which could further improve the health of the economy in the days to come and prepare it for a long haul with superior delivery performance. India is an emerging market with GDP slightly upwards of $2 trillion in 2017.

India’s GDP was at $541 billion in 2003, crossed $1 trillion in 2007 and $2 trillion in 2015.

The Indian economy has almost doubled between 2003 and 2007. It took four years for India’s GDP to double from $0.5 trillion to $1 trillion between 2003 and 2007 in the backdrop of better global environment; and eight years from $1 trillion to $2 trillion between 2007 and 2015 despite deteriorating global fundamentals.

In the backdrop of these facts, it is expected that India’s GDP would reach $5 trillion by 2025. Economic reforms put to use over the past couple of years would probably hasten this expansion.

Now, let us look at the market performance in the interim period. The market rally between 2003 and 2007 took the Sensex from 5,000 to upwards of 21,000 and the Nifty trading from around 1,000 to 6,000 by the end of 2007. The market created wealth for all participants -- retail investors, domestic and foreign institutions. This simply shows that the market reflects the underlying growth in the economy.

Are we at a similar inflection point? Undoubtedly YES!!

Now, let us deliberate on the factors influencing economic growth. India is basically a domestic economy – only 25 per cent of the GDP is driven by exports. It houses approximately 1.25 billion people (second largest population in the world) with per capita income growing at 5.7 per cent over the past 10 years. Thus, India is a great consumption destination. Demographic dividends are favouring India as 65 per cent of the population is in the working group range of 15-64 years, 29 per cent of the population is in the range on 0-15 years and only 6 per cent above 64 years of age.

Over the next 2-3 decades, the demographic dividend is expected to favour India. India is at the same sweet spot where the US was in 1980s and China in 1990s. With this demographic dividend, national productivity is going to be very high, the dependency ratio is relatively low and the women in the society are also contributing to the workforce.

A high proportion of young population means higher productivity, more risk-taking ability and higher expenditure compared with savings, thus driving demand, leading to higher consumption and hence higher demand. And this virtuous circle continues.

The domestic consumption industry is very large. India has nearly 70 crore rural population, which is almost equivalent to the size of entire Europe, which houses around 74 crore people. The young Indian consumer class comprises 50 crore people, which is higher than the combined population of Brazil, Russia, Germany and the UK, while the middle class accounts for 35 crore consumers, which is higher than the size of the US population. The potential consumption market is pretty large in size.

India has a relatively poor infrastructure compared with developed nations. There is wide disparity between the infrastructure we have and the developed nations like the US, the UK, and other West European nations. We have ample scope to build all-weather roads, highways, bridges, waterways and seaways, airports and sea ports and mass rapid transit system. There is great opportunity for building new smart cities, which would be equipped with all the required amenities for quality life within the reach for all and sundry.

Indian workforce is well placed to capture global opportunities. Having an English speaking, well-educated generation, the Indian workforce has the capability to tap opportunities in the global IT sector. Homegrown and Indian MNC software companies’ exports have cornered a niche in global IT industry. The Indian industry has reached a new peak wherein engineering, auto and auto ancillary, pharma, textiles and leather goods companies are seen having good receptivity in the global market. A stable currency backed by robust macro-economic fundamentals and political stability is seen as another positive for these export-oriented industries.

At this juncture, the domestic economy is poised to benefit from both domestic consumption and global demand, thus playing on both the levers of growth, though in differential proportion. This creates good visibility of growth opportunity for the industries operating in these spheres of business. Hence, the economy and markets have a great future ahead and the 10,000 mark on the Nifty is just a number in the journey!
http://m.economictimes.com/markets/...here-us-was-in-1980s/articleshow/60171734.cms
 
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Regional connectivity scheme tweaked by Narendra Modi government to lure airlines, but will they bite?
In order to make the regional connectivity scheme (RCS) more viable for airlines, the ministry of civil aviation (MoCA) has decided to make some significant changes for the second round of bidding. MoCA chose to emphasise on increasing connectivity in the ‘priority areas’ — Jammu and Kashmir, Uttarakhand, Himachal Pradesh, the North-East, and Andaman, Nicobar and Lakshadweep Islands — and has increased the viability gap funding (VGF) for helicopter operators under the scheme. In the second round of the bidding which started from Thursday, airlines would be able to bid for commercially viable existing routes under the scheme if a no-objection certificate (NOC) can be obtained from the existing operator.

Also, to provide more flexibility to the selected airline, operators in maximum number of flights with viability gap funding (VGF) has been increased for 14 priority areas. The operator subsequently can also increase the number of flights according to their convenience. “We have seen that significant capacity has been added by IndiGo and SpiceJet before the round two bidding. Though the first round of bidding has been successful, our main thrust will be on the priority areas and we think helicopters will help us connect these places to a great extent,” said Jayant Sinha, minister of state (MoS) for civil aviation.

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As some of the airports in the ‘priority area’ states need major rebuilding work, the ministry has decided to encourage more helicopter operators to participate in the upcoming bidding process. VGF caps for helicopters have been increased and 10% of the total funds in the regional connectivity fund will be earmarked for helicopter operations. Any helicopter with a capacity of 13 passengers can be considered for the scheme.

Another important change considered by the MoCA officials is to allow flights with a stage length less than 150 km between the two airports. Both SpiceJet and IndiGo have ordered 50 ATR and Q4 bombardier aircraft to operate on the RCS routes and IndiGo is expected to participate in the second round of bidding. “We have consulted experts about helicopters and reached a conclusion that using helicopters will be of great help in improving air connectivity in the priority states. Airport infrastructure only needs to be improved if an aircraft is being operated and not a helicopter. Hence, it is very convenient,” said Rajiv Nayan Choubey, secretary, MoCA. Two successful bidders from the first round — Air Odisha and Air Deccan — are yet to start operations, but MoCA officials are optimistic that both the operators will be able to start operation by the end of September.
http://www.financialexpress.com/eco...e-airlines-but-will-they-bite-read-on/824039/
 
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Deserted view of Sirsa Railway Station after curfew in the city due to violence by Dera Sacha Sauda followers in Sirsa on Saturday. PTI Photo
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Ministry of Consumer Affairs, Food & Public Distribution
29-August, 2017 18:28 IST
Centre imposes stock holding limit on sugar producers for September & October 2017

In exercise of the powers conferred by section 3 of the Essential Commodities Act, 1955 (10 of 1955) read with the clause 5 of the Sugar (Control) Order, 1966, the Central Government hereby directs that no producer of sugar shall hold any stock of sugar in excess of quantities at the end of the month as mentioned below:-

(a) September, 2017: 21% of the total sugar available with them during 2016-17 sugar season.

(b) October, 2017 : 8% of the total sugar available with them during 2016-17 sugar season



2. Total availability of sugar of individual producer shall be calculated as under:

“Opening stock of sugar as on 1st October, 2016 + sugar produced during 2016-17 sugar season – sugar exported during 2016-17 sugar season + sugar imported during 2016-17 sugar season”.

3. Further, in exercise of powers conferred by clause 15 of the Sugar (Control) Order, 1966, the Central Government hereby authorises the State Governments and Union territory administrations to enforce this order.

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Ministry of Consumer Affairs, Food & Public Distribution
29-August, 2017 11:12 IST
Centre allows States/UTs to take control measures to ensure adequate availability of onion at reasonable prices

As part of its efforts to ensure that the prices of essential commodities are kept under control, Government has taken a decision to enable the States/UTs to impose control measures on traders/dealers of onion to ensure adequate availability of essential commodity at reasonable prices. On 25.08.2017, Government has notified this decision vide Order SO No. 2785 (E). States may now impose stock limits on onions and undertake various measures like de-hoarding operations, action against speculators and profiteers.

This has been necessitated due to the abnormal rise in prices of onions in recent weeks particularly from July end of this year onwards, though the production and supply of onions in the market is better than last year during the same period. As per all India average retail price, the prices have increased from Rs. 15 per kg to Rs. 28.94 per kg. In the Metros the rise has been even steeper, Rs. 31 per kg in Chennai, Rs. 38 per kg in Delhi, Rs. 40 per kg in Kolkata and Rs. 33 per kg in Mumbai.

After examination of all the circumstances, Government has inferred that there are some other reasons than shortage of onions, contributing to the abnormal price rise of onions like hoarding, speculation etc. Therefore the States/UTs were required to be enabled to take action against those traders who are engaged in speculative trading, hoarding and profiteering in onions. The measure is expected to bring the prices of onions down to a reasonable level to give an immediate relief to the consumers.
 
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