Indian Economy-News & Updates

[RISING SUN]

India Inflation Unexpectedly Steadies, Opening Rate Cut Room
India’s inflation unexpectedly slowed in September, potentially reviving calls for an interest rate cut to spur flagging growth.

Key Points

• 
  
  
  • Consumer prices rose 3.28 percent in September from a year earlier, the Statistics Ministry said in a statement in New Delhi on Thursday
  • That was slower than the 3.53 percent median estimate in a Bloomberg survey of 40 economists
  • Food price index rose 1.25 percent, compared with August’s 1.52 percent increase
  • • August’s inflation rate was revised lower to 3.28 percent from 3.36 percent
    Big Picture
    The weaker-than-expected inflation could add pressure on central bank Governor Urjit Patel to cut rates to revive growth that has been slowing for the past five quarters. It raises questions about the Reserve Bank of India’s forecast that inflation for the second half of this fiscal year -- October to March -- would surge to 4.2 percent to 4.6 percent from the previous projection of 3.5 percent to 4.5 percent.
    
    Economist Takeaways

• 
  
  
  • Once the effect of insufficient rainfall and firmer commodity prices is factored in, "we could expect the inflation rate to rise,” said NR Bhanumurthy, Delhi-based economist at the National Institute of Public Finance. "The industrial output numbers, however, seem to indicate that there seems to be a mild recovery in August."

The Details

• 
  
  
  • Food and beverage prices rose 1.76 percent
  • Clothing and footwear rose 4.63 percent
  • Fuel and lighting rose 5.56 percent
  • Factory output rose 4.3 percent compared with the 2.6 percent survey estimate.

https://www.bloomberg.com/amp/news/...expectedly-steadies-opening-room-for-rate-cut

India's factory output grows sharply at 4.3% in August
India’s industrial output grew sharply 4.3 percent in August, highest in nine months, showing signs of recovery, aided by an expansion in the manufacturing sector.

The government today revised July’s factory output growth to 0.9 percent in July, as compared with an earlier estimate of 1.2 percent.

The recovery in industrial output is a clear indication that the companies have begun restocking and building fresh inventories after clearing up the stockpile in June ahead of the Goods and Services Tax’s (GST’s) roll out from July 1.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country’s business landscape.

Manufacturing sector, which accounts for more than three-fourth of the entire index, continued to growth at 3.1 percent in August, compared with 0.1 percent growth in July, government data showed.

Capital goods output, which is reflective of the private sector investment scenario, rose 5.4 percent in August compared with (-) 0.1 percent contraction in July.

Mining production showed a substantial jump of 9.4 percent in August from 4.8 percent in July.

Electricity production increased 8.3 percent in August as compared with 2.1 percent a year ago.

Primary goods’ production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month. Similarly, consumer non-durables grew nearly 7 percent, which contracted (-) 0.1 percent in July.
http://www.moneycontrol.com/news/bu...ows-sharply-at-4-3-in-august-2411241.html/amp

India's per capita energy consumption to double in next 6-7 years
India’s energy needs are going to double in the next 6-7 years at the present rate of growth of the economy, according to the Minister of State (Independent Charge) for Power and Renewable Energy, R K Singh.

Speaking at the curtain raiser for RE-Invest 2017, Singh said, “We expect India's per capita energy consumption to double in the next 6 to 7 years, and then double again after 5 years.”
RE-Invest 2017 is the flagship event of the Ministry of New and Renewable Energy to highlight the achievements and attract investments in the clean energy sector.

Commenting on the record low tariffs for solar energy in the country, Singh said, “As demand for solar energy increases, I see tariffs and price of cells and modules falling further.”

Also speaking at the event, Secretary, MNRE, Anand Kumar, said that RE-Invest 2017 is likely to be inaugurated by the Prime Minister, Narendra Modi, in December this year.

An official statement said, “The industry and developers had committed for 293 GW of renewables and against this, 39.3 GW capacity is commissioned or under implementation. As against the financial pledge of Rs 4 lakh crore by banks, Rs 1.8 lakh crore have been sanctioned.”

Of the disbursals by banks, none of the foreign banks have met their commitment of lending Rs 12,000 crore for 2,400 MW of renewable energy projects. The highest compliance has come from private sector non-banking financing companies that have sanctioned 79.38 per cent or Rs 49,611.25 crore of their Rs 62,500-crore commitment.
http://m.thehindubusinessline.com/e...to-double-in-next-67-years/article9901708.ece

India’s industrial growth clocks nine-month high of 4.3% in August
Consumer inflation marginally eases to 3.28% in September.
India's industrial production growth hit a nine-month high of 4.3% in August, according to data published by the Central Statistical Organisation (CSO) on October 12.

Economists surveyed by Reuters had forecast 2.4% growth in output compared with a revised 0.9% year-on-year increase in July.

The annual consumer inflation in September marginally eased to 3.28% from a year ago, the CSO data said.
http://www.thehindu.com/business/Ec...onth-high-of-43-in-august/article19846242.ece

 

[RISING SUN]

‘T-20’ for Indian Railways! Travel in self-propelled ‘Make in India’ train sets on Delhi-Mumbai route at 160 kmph
Indian Railways is eyeing world-class ‘Make in India’ self-propelled semi-high speed train sets and FE Online has exclusive details of the project! Indian Railways has invited bids for future-ready modern train sets that will be manufactured by foreign majors in the Integral Coach Factory (ICF)!
Codenamed ‘Train-20′ in the hope that they will start plying by 2020, Indian Railways’ new train sets will have the capability of attaining speeds of 160 kmph. In fact, there is a strong possibility that these new train sets will ply on the Delhi-Mumbai and other major metro routes.



Speaking exclusively to FE Online about the project, Sudhanshu Mani the GM of ICF said, “Train 20 is a Make in India project but the first rake will come from abroad. Train 20 would be 100% world-standard. We have called bids.

European majors Siemens, Bombardier, Siemens and Alstom are together now, Stadler, Talgo – these are the people who will quote and we are hoping one of them will bag the order.”
The approximately Rs 2,500 crore order – said to be a ‘Make in India’leap – will be for 14 train sets of 20 coaches each, 11 spare coaches. In total 291 coaches will be made for Indian Railways. The contract involves design, development, manufacturing, testing and commissioning of the train sets. “One or two coaches will come from abroad. The last 4 rakes will be built entirely in ICF,” Mani told FE Online. Indian Railways hopes to finalise on the foreign major by mid-January 2018.
Train 20 will be able to attain a maximum speed of 160 kmph, making it a semi-high speed train. The aluminium-bodied self-propelled train set will be energy efficient, says ICF. The train set will have under-slung 3 phase propulsion system, automatic doors and a test speed of 176 kmph. Two types of coaches – air-conditioned chair car and sleeper-type – will be manufactured. The sleeper type coaches will include AC – 1st class, AC-2 tier and AC-3 tier.
According to Mani, simultaneous track-upgradation will happen so that the new train sets can run at their maximum speed of 160 kmph. “Some tracks are already there. For example, Gatimaan Express runs at 160 kmph. We are hoping that by the time Train 20 comes, Mumbai-Delhi tracks will be able to take 160 kmph and other metros also. So that’s a simultaneous exercise. The board is working on the upgradation of tracks. These are two separate exercises, they have to merged together to run the train at that speed,” he said.
The new coaches will also be safer, says ICF. “All safety features of LHB will be there. Also these new train sets will have more electronics and a platform where every new technology can be married into. The platform is available for a future upgradation of technology and whatever is already available is also safer than what we have,” Mani said.

ICF is also hopeful that the successful foreign tenderer will enter into future agreements with the coach factory for other train sets for Indian Railways and overseas markets as well.
Meanwhile, ICF is also working on ‘Train-18, which is another ‘Make in India’ project for self-propelled trains. According to Mani, Train 18 will be 90% world-class and Train 20 will be 100% world-class. Conceptualised as a chair car, the train set is also envisioned to achieve speeds of 160 kmph.
http://www.financialexpress.com/ind...0-icf-foreign-investment-delhi-mumbai/892003/

 

[Hindustani78]

Ministry of Finance
12-October, 2017 17:52 IST
Leasing of vehicles purchased and leased prior to 1st July, 2017 would attract GST at a rate equal to 65% of the applicable GST rate (including Compensation Cess).

In order to provide relief to old/existing leases of motor vehicles, GST Council in its 22nd Meeting held on the 6th October, 2017 in the national capital took several decisions in respect of motor vehicles purchased and leased prior to 1st July, 2017. These decisions are as given below:-

a) Leasing of vehicles purchased and leased prior to 1st July, 2017 would attract GST at a rate equal to 65% of the applicable GST rate (including Compensation Cess).

b) Such vehicles when sold shall attract GST of 65% of the applicable GST rate (including Compensation Cess).

c) Sale of vehicles by a registered person who had procured the vehicle prior to 1st July, 2017 and has not availed any Input Tax Credits of Central Excise duty, VAT or any other taxes paid on such motor vehicles, would also be subject to 65% of applicable GST rate (including Compensation Cess).

These rates would apply for a period of three years with effect from 1st July, 2017.

Notifications to give effect to the above would be issued shortly.

******

 

[Hindustani78]

Ministry of Railways
12-October, 2017 18:51 IST
Shri Mahesh Kumar Gupta appointed as New Member Engineering Railway Board

Shri Mahesh Kumar Gupta, has been appointed as new Member (Engineering) Railway Board and ex officio Secretary to the Government of India to assume charge with effect from 11th October 2017. Shri Gupta, an officer of Indian Railway Service of Engineers (IRSE) of 1979 batch, and is a Bachelor in Engineering from University of Roorkee in the year 1979.



Prior to this assignment he was General Manager, Modern Coach Factory, Rae Bareli. He worked as Chief Administrative Officer (Constructions), Central Railway. He has also worked in various important posts like Chief Bridge Engineer, Eastern Railways & Central Railways respectively, Chief Engineer (Planning & Design), Central Railways, Senior Divisional Engineer (Coordination), Nagpur Division, Central Railways, Deputy Chief Engineer, Konkan Railways, Joint Director(Tracks), RDSO, Lucknow and Dy Chief Engineer, Central Railways.

***

Ministry of Railways
12-October, 2017 18:36 IST
Shri D.K.Gayen appointed as New Member Staff Railway Board

Shri D.K.Gayen, has been appointed as new Member (Staff) Railway Board and ex officio Secretary to the Government of India to assume charge with effect from 11th October 2017. Shri Gayen, an officer of Indian Railway Service of Mechanical Engineers (IRSME) of 1981 batch, and is a Bachelor in Engineering in Mechanical Discipline from Maulana Azad National Institute of Technology in the year 1979.



Prior to this assignment, he was General Manager, East Central Railway, Hajipur. He worked as Chief Mechanical Engineer, South Eastern Railway. He has also worked in various important posts like Chief Rolling Stock Engineer, Eastern Railways & Chief Motive Power Engineer, Eastern Railways, Chief Workshop Manager, Jamalpur Workshop and Liluah Workshop. He has also worked as Divisional Railway Manager, Asansol and Mughalsarai Division respectively. He has served in the capacity of Director (Inspection and Liaison), RDSO, Lucknow.

***

 

[Hindustani78]

A man repairs automobile gear parts at an industrial area in Mumbai on October 12, 2017. | Photo Credit: REUTERS

http://www.thehindu.com/business/Ec...3-in-august/article19846242.ece?homepage=true

Factory output growth measured in terms of Index of Industrial Production stood at 4% last August.
Industrial production grew at a nine-month high of 4.3% in August, mainly on account of robust performance of mining and power sectors coupled with higher capital goods output, official data showed on October 12.

Factory output growth measured in terms of Index of Industrial Production (IIP) stood at 4% in August 2016, as per data released by the Central Statistics Office (CSO). The previous high in IIP growth was recorded at 5.7% in November 2016.

IIP growth during April-August period of this fiscal stood at 2.2%, down from 5.9% in same period in 2016-17. Meanwhile, the July IIP number was revised to 0.94% from 1.2% provisional estimates released in September.

The output growth in manufacturing sector, which constitutes 77.63% of the index, however decelerated to 3.1% in August from 5.5% a year ago. The output of the mining and electricity sectors grew at 9.4% and 8.3% as compared to August 2016.

As per use-based classification, the growth rates in August 2017 over August 2016 are 7.1% in primary goods, 5.4% in capital goods, (—) 0.2% in intermediate goods and 2.5% in infrastructure/ construction goods.

The consumer durables and consumer non-durables sectors recorded growth of 1.6% and 6.9%, respectively.

In terms of industries, 10 out of 23 industry groups in the manufacturing sector have shown positive growth during August 2017.

The industry group ‘Manufacture of computer, electronic and optical products’ showed the highest positive growth of 24.9%, followed by 16.5% in ‘pharmaceuticals, medicinal chemical and botanical products’ and 11.1% in ‘other transport equipment’.

On the other hand, the industry group ‘Manufacture of furniture’ showed the highest negative growth of (—) 16%, followed by (—) 15.1% in ‘tobacco products’ and (—) 11.4% in ‘Printing and reproduction of recorded media’.

 

[RISING SUN]

Chennai to Kazipet in just 3 hours? Railways to conduct feasibility study
Indian Railways has signed a joint declaration of intent with German Railways to carry out feasibility study on existing Chennai-Kazipet corridor for increasing the speed of trains to 200 kmph.

At present, the travel time between Chennai and Kazipet in Telengana, a distance of around 643 kms, is around 11 hours. If the semi-high speed corridor is developed, then it will take about 3 hours 15 minutes.

The Project is envisaged to consist of three phases to be carried out over a 22 month period with the objectives to provide :

Phase 1: Definition of three demand-based Upgrade scenarios for the corridor

Phase 2: Selection of the preferred Upgrade scenario for SHS on the corridor, based on analysis of respective operations and economic-financial impact.

Phase 3: For preferred scenario, Reference design and technical Tender document

The cost of the feasibility study will be shared 50.50 percent by the Ministry of Railways and the German government.

Here are the salient features of Chennai-Kazipet corridor

● Route: Chennai-Gudur Jn-Nellore-Tenali Jn-Vijayawada Jn-Warangal-Kazipet Jn Total length of the corridor – 643 km (135 km in Southern Railway and 508 km in South Central Railway) and the entire corridor is electrified.

● Divisions Involved – Chennai (135 km), Vijayawada (311 km) & Secunderabad (197 km).

● The maximum sectional speed on the corridor is 110 kmph in Southern Railway and 120 kmph for South Central Railway.

● There are 216 (Southern Railway-68 & South Central Railway-148) level crossings on the corridor and all are manned.

● There are 1979 (Southern Railway-514 & South Central Railway-1465) number of bridges on this corridor.

● There is only one direct train from Kazipet to Chennai i.e. Train No. 12760/Charminar SF Express taking 11 hours 20 minutes with 13 stoppages at an average speed of 57 kmph.

● Majority of the trains are from Warangal to Chennai (638 km) and the fastest train is Train no. 12433/12434 Rajdhani Express taking 8 hours 29 minutes with average speed of 75.3 kmph with one stoppage at Vijayawada.

● Details of coaching trains on the route: Gareeb Rath-1, Janshatabdi-1, Superfast-40, MailExpress-21 & Holiday Special-8, Total-71.

● Total number of enroute stations – 108 (Southern Railway-28 & South Central Railway-80).

● Total number of stations where platform is on the mainline – 29 (Southern Railway-23 & South Central Railway-06).

● Southern Railway – Automatic/Absolute signalling, South Central Railway – Mainly absolute and MACLS.
http://zeenews.india.com/economy/ch...ays-to-conduct-feasibility-study-2049269.html

Railway engines: Alstom starts production, GE gets first locomotive
In a fillip to ‘Make in India’, two railway locomotive projects coming up in Bihar at an estimated cost of Rs40,000 crore witnessed a flurry of activity on Wednesday.

While Alstom’s electric locomotive unit started production of the first electric engine at Madhepura, GE received its first diesel engine prototype imported from the US in Mumbai that would be manufactured at Marhaura.

Commissioned by the government in 2015, the units are joint ventures between Indian Railways and the two companies. According to the agreements, the joint venture with Alstom will manufacture and supply modern electric locomotives, while the one with GE will make diesel engines.

Alstom’s senior vice president Asia Pacific Jean-Francois Beaudoin said: “The E-loco project is one of the most prestigious projects for Alstom worldwide and is a multimillion euro investment by the company. In order to make a difference in Indian market, we need local expertise, competitive manufacturing capacity and close relationships with our customers. The commencement of production at the plant is a perfect testimony to our strategy to develop and grow a localized ecosystem to bring wide reaching benefits for railways and the community at large.”

The company’s Madhepura facility is spread across 250 acres and currently employs 70 people. It plans to ramp up production by 25% every year till it full capacity is reached. Alstom says its first locomotive will be ready for roll-out early next year.

The first five locomotives will be completed by 2019 followed by 35 locomotives by 2020, 60 in 2021, and by 100 every year till the target of 800 is reached. The company is also setting-up two maintenance depots at Saharanpur in Uttar Pradesh and Nagpur in Maharashtra.

Indian Railways plans to buy 1,800 engines from the two facilities over 11 years. Under the agreements, 1,000 diesel locomotives will be manufactured by the GE-led venture with a basic cost of Rs 14,656 crore, while the Alstom-led venture will manufacture and supply 800 electric locomotives at a basic cost of Rs 19,904 crore.

Vishal Wanchoo, president and CEO, GE South Asia said, “Through this project, we’re creating a robust supply chain ecosystem in India, and will localize more than 70% of all content. We’re proud of the more than 6,000 jobs that have been created by GE in Bihar and Uttar Pradesh, and remain committed to our work in the country.”

GE is building two locomotive models for Indian Railways. The first is a dual-cab locomotive with a 4,500-horsepower engine.

The second features a 6,000-horsepower engine. The firm claims it will produce India’s first diesel-electric locomotive that complies with the international standard on emissions, known as UIC 1.

Interestingly, while the company is happy with its performance, the Indian Railways which plans to be completely electrified by 2022 is still trying to find ways to honour the contract it has with GE as the latter had warned the national carrier of consequences in case of a termination of contract. After the company’s statement, the railway minister Piyush Goyal had made a media statement on 29 September that the project is on track and when Indian Railways’ needs are changed, the company would be informed in time.
http://www.livemint.com/Industry/wI...stom-starts-production-GE-gets-first-loc.html

Production starts at Indian electric locomotive factory
Alstom officially commenced production at its newly-built electric locomotive factory at Madhepura in Bihar state on October 11.

The plant has been developed on a 100 ha greenfield site by a joint venture of Alstom (74%) and Indian Railways (26%) under a contract for Alstom to supply 800 Prima T8 (WAG12) twin-section electric locomotives which was awarded by the Ministry of Railways in November 2015.

The contract allows for the first five of the locomotives to be imported, and the first two bodyshells have now arrived at Madhepura for fitting out. The remaining 795 must be manufactured locally in support of the government’s Make in India campaign.

The first completed locomotive is expected to be rolled out early next year. Five are to be completed by 2019, 35 by 2020 and then 60 in 2021, followed by production at a rate of 100 per year until the order is completed.

The contract is ‘one of the most prestigious projects for Alstom worldwide’, said Jean-Francois Beaudoin, Alstom's Senior Vice-President, Asia Pacific. The launch of production at the factory was ‘a commendable achievement for the entire company’, he added.

The factory currently employs 70 people, which will increase at a rate of 25% each year until it reaches full capacity. This will include the local recruitment of young people to support socio-economic development in Madhepura.

Beaudoin said Alstom’s ‘multi-million euro’ investment in the plant was proof of its commitment to infrastructure development in India. ‘In order to make a difference in this market, we need local expertise, competitive manufacturing capacity and close relationships with our customers’, he said. ‘The commencement of production at the plant is perfect testimony to our strategy to develop and grow a localised ecosystem to bring wide-reaching benefits for railways and the community at large.’

Alstom currently has its Indian headquarters as well as a rolling stock and signalling design centre in Bangalore, a metro rolling stock manufacturing facility at Sricity and a component plant at Coimbatore. As part of the electric locomotive project it is establishing maintenance depots at Saharanpur in Uttar Pradesh and Nagpur in Maharashtra state.
http://www.railwaygazette.com/news/...ts-at-indian-electric-locomotive-factory.html

 

[Hindustani78]

http://www.deccanherald.com/content/637490/india-gets-1st-diesel-loco.html

Press Trust of India, New Delhi, Oct 12 2017, 18:32 IST

GE clarified that the work on a diesel locomotive factory in Bihar's Marhowrah is on track, days after Railway Minister Piyush Goyal ruled out any changes in the deal. Image courtesy Twitter


The first diesel-electric locomotive built by US conglomerate General Electric as part of a USD 2.5 billion deal to supply 1,000 such engines to the Indian Railways has arrived in India.

The project, a joint venture between the Indian Railways and GE to supply and maintain modern diesel electric locomotives of 4,500 HP and 6,000 HP to the public transporter, was announced in November 2015.

GE clarified that the work on a diesel locomotive factory in Bihar's Marhowrah is on track, days after Railway Minister Piyush Goyal ruled out any changes in the deal.

But with government's thrust on electrification of tracks to combat pollution, there was a buzz, and some media reports that it could exit the contract.

"The first of 1,000 diesel-electric evolution series locomotives has already arrived at India's Mundra Port," Vishal Wanchoo, President and CEO, GE South Asia told PTI on the sidelines of the International Rail Conference and the 12th edition of the International Rail Equipment Exhibition (IREE) held here today.

"The work in our diesel factory in Bihar is on track and as the minister has said there are no changes in the contract," he said, adding GE was actually ahead of schedule.

The plan is to deliver 100 locomotives per year on an average. The first fiscal year will be little bit more. We plan to deliver the 1,000 locomotives to the Indian Railways over 11 years, he said.

"Our partnership with the Indian Railways is a best-in- class bilateral example of how entities can work together to create jobs and drive economic development in a region," said Wanchoo.

"Through this project, we're creating a robust supply chain ecosystem in India, and will localize more than 70 per cent of all content. We're proud of the more than 6,000 jobs that have been created by GE in Bihar and Uttar Pradesh, and remain committed to our work in the country," he said.

Goyal had last month said there would be no changes in the Marhowrah factory set up.

But, the railway minister had also said he had discussions with top executives of GE to explore how the objectives of reducing pollution, bringing down overall cost and honouring agreements with the global conglomerate be met.

Wanchoo said GE has no plans to manufacture electric locomotives at the Marhowrah factory.

"GE bid for diesel locomotives and our Bihar plant can manufacture only diesel locomotives. Two contracts were floated and we bid for the diesel plant.

"However, we support the government's electrification process. In every country that we operate in, we supply these locomotives. Most countries wherein we operate have an electrification program, which makes a lot of sense, but the diesel locomotives also co-exist for various reasons as they are efficient and affordable," Wanchoo said.

 

[RISING SUN]

Indian Railways to build fuel-cell battery locomotive
INDIAN Railways (IR) plans to build a hydrogen fuel cell and battery powered 300kW broad-gauge locomotive, and Diesel Locomotive Works, Varanasi has invited tenders by November 22 for components for the project.

The locomotive will have a proton-exchange-membrane-based (PEM) fuel cell power plant with a maximum of three air-cooled stack modules each rated at a minimum of 100kW. A fuel cell and battery system will provide transient power of 700kW, with a dc/dc boost/buck converter with transformer. The hydrogen storage system will consist of two modules each comprising carbon fibre/aluminium tanks.
The 21-tonne axleload locomotive will have a new underframe and superstructure, but will use some components from an Alco diesel locomotive including bogies, dc traction motors, air brakes, vigilance control device, event recorder, sanders, air dryers and horns.

The successful bidder will need to have a memorandum of understanding with an Indian partner to work on the project. Field trials on the IR network lasting at least three months will be conducted with the prototype locomotive.
http://www.railjournal.com/index.ph...ys-to-build-fuel-cell-battery-locomotive.html

EIB to provide €500m for Bangalore Metro project in India
The European Investment Bank (EIB) has agreed to provide €500m to support the construction of the new 18-station Bangalore Metro Rail Project Phase II's Reach 6 line in the Indian state of Karnataka.

The funding will also be used to procure 96 railcars for operation along the line. The loan agreement was signed with the Government of India’s Ministry of Finance.

Reach 6 is a 22km-long metro line scheduled for completion in 2021, which is expected to expedite transportation and reduce journey times to some region within Bangalore to nearly 15 minutes from the current two hours.

The Asian Infrastructure Investment Bank is also expected to support the project by providing an additional €300m.

EIB South Asia vice-president Andrew McDowell said: “Daily travel for hundreds of thousands people on the Namma Metro will be transformed by expanding urban transport in Bangalore.

“The impressive Reach 6 project shows how a world city is providing 21st century sustainable transport for its citizens.

"The €500m financing agreed with the European Investment Bank, the Bank of the European Union, demonstrates Europe’s commitment to support world-class climate-related investment across Asia."
“The €500m financing agreed with the European Investment Bank, the Bank of the European Union, demonstrates Europe’s commitment to support world-class climate-related investment across Asia and the increased momentum of EIB financing for urban transport across India.”

Additional works outlined for the development initiative include the construction of underground tunnels and elevated tracks.

Nearly 800 people are expected to be employed during the project's construction phase.

Reach 6 is slated to not only reduce journey times and lower greenhouse gas emissions, but also form a key route to the future Bangalore Airport rail network.

Image: Signing of the loan agreement for Bangalore Metro between EIB and the Ministry of Finance, Government of India. Photo: courtesy of the European Investment Bank.
http://www.railway-technology.com/n...-for-bangalore-metro-project-in-india-5944846

 

[RISING SUN]

India will have 50,000 km highways network in 2 years: Government
The highways network in the country will be of 50,000 kilometres over the next two years, the government said today.

The state-owned National Highway Authority of India (NHAI) has constructed nearly 30,000 km world-class national highways, the Ministry of Road Transport and Highways said in a statement.

"NHAI, under the Ministry of Road Transport and Highways, has another 20,000 km scheduled for completion in the next couple of years. The sustained growth will ensure that Indian national highways network will measure approximately 50,000 km of highways in the next two years," it said.

The focus of the government is on building highway operations for rendering world-class services to the highway users, it said adding NHAI has created a new Highway Operations Division.

This division will focus on all non-commercial highway operational activities for efficient network utilisation and providing hassle-free services, it said.

The Highway Operations Division at NHAI will be headed by Member (Administration) and assisted by a team of experienced officers.

The division will be in charge of the electronic tolling, wayside amenities, road safety and security, incident management-helpline, tracking of ambulance, cranes on highways, highway traffic management system, Swachh Bharat Abhiyan, road lighting, wi-fi and other modern amenities on national highways, it added.
http://economictimes.indiatimes.com...-government/articleshow/60860577.cms?from=mdr

NHAI all set to become world's third largest highways network, expands operations

With the National Highway Authority of India (NHAI) all set to become world's third largest highways network, it has created a new Highway Operations Division.

The NHAI has constructed nearly 30,000 km world class national highways and has another 20,000 km scheduled for completion in the next couple of years.

According to an official statement, the sustained growth will ensure that Indian national highway network will measure approximately 50,000 Km of highways in the next two years, which will be third largest highways network in the world.

"However, this achievement also signals the need of focusing on the highway operations for rendering world class services to the highway users. Thus, the NHAI has created a new Highway Operations Division," the statement said.
http://indiatoday.intoday.in/story/...ision-highway-network-division/1/1057256.html

 

[RISING SUN]

Mastercard to invest $750 m in India by 2020
Global payments company Mastercard plans to invest another $750 million-odd in India by 2020 to fuel its growth in the world’s second-fastest growing large economy.

This money will be used for organic growth and acquisitions, and in activities such as cybersecurity, mobile and digital payments, smart cities and wallets, said Ajaypal S Banga, President and CEO, Mastercard said here on Thursday.

The planned investment of about $750 million comes on top of the $550 million that Mastercard invested in India over the last three years.

About 14 per cent of Mastercard’s global employee base of 15,000 is based in India and most of them are technologists developing mobile technology and cyber security solutions. “There are also a bunch of people doing data analytics and advanced data analytics,” he said. As on date, Mastercard has offices in Vadodara, Gurugram and Pune.

Mastercard has been using the acquisition route to grow its business in India. This includes the 2014 buy of software solutions and payments management firm ElectraCard Services (ECS).

MoU with AP

On Thursday, Mastercard signed a Memorandum of Understanding (MoU) with Andhra Pradesh to digitally transform the State’s delivery of services to people, especially farmers, and drive financial inclusion.

The MoU, which will be valid for two years, was signed between Andhra Pradesh Chief Minister N Chandrababu Naidu and Mastercard’s Banga. The MoU will help Andhra Pradesh create a “fintech valley” of global repute at Vizag, Naidu told reporters here.

“We will work to take fintech to the logical conclusion. Step by step we will create the ecosystem to help the economy grow at a faster pace,” the CM said.

Asked if his government favoured adoption of digital currency, Naidu said such options should be cost-effective, and that it would solve so many problems.
http://m.thehindubusinessline.com/n...dhra-pradesh-govt-sign-mou/article9888340.ece

 

[Soumitra]

Super Rajdhani On Delhi-Mumbai Route Launched Today: Fares, Details Here
Indian Railways new Super Rajdhani will reduce at least two hours of travelling time between Delhi and Mumbai.
Business | NDTV Profit Team | Updated: October 16, 2017 21:37 IST

https://milaap.org/stories/help-kaspar?utm_source=taboola&utm_medium=referral

The Super Rajdhani between Delhi and Mumbai is launched today.

HIGHLIGHTS

1. Delhi-Mumbai Super Rajdhani will not have a flexi fare system
2. Fares will cost Rs. 600-800 less than the other two usual Rajdhanis
3. The Super Rajdhani will run thrice a week

For travellers between Mumbai and Delhi, the Indian Railways has a good news: new Super Rajdhani will be launched from October 16, which the Railways said, will reduce at least two hours of travelling time as compared to the usual Rajdhani that runs on this route. The train will not have a flexi fare system according to the dynamic pricing mechanism of the railways, the Ministry of Railways said, on its official Twitter account @RailMinIndia. This means that the fares of the train will not jump by 10 per cent over every 10 per cent of seat bookings as happens with usual Rajdhani trains.


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Ministry of Railways

✔@RailMinIndia
3/Ministry of Railways introduces tri- weekly new Special Rajdhani between Delhi – Mumbai route from 16th October, 2017.



The fares on the Super Rajdhani will cost passengers Rs. 600-800 less than the two other Rajdhanis already on the route, according to a report by news agency Press Trust of India. The train will chug-off from Delhi on Wednesdays, Fridays and Saturdays and from Bandra on Tuesdays, Thursdays and Saturdays.

Here are 10 things that you must know about the new Super Rajdhani train that will run between Delhi and Mumbai:

• The Super Rajdhani will run from Hazrat Nizamuddin Station of Delhi till Bandra station of Mumbai.

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Ministry of Railways

✔@RailMinIndia
1/ Announcement of New Super Rajdhani (09004/03) between Delhi and Mumbai without Flexi fare & saving of around 2 hours in journey time.

• The fares of this train in second and third AC will be around 19 per cent cheaper than the maximum flexi fare of the corresponding classes of the existing Rajdhani on this route, the Railways said. "The fare of the train, however, will be 20 per cent more than the base fare of the
  
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  Ministry of Railways
  
  ✔@RailMinIndia
  5/Fare 4 this train in 2nd AC & 3rd AC will be around 19% cheaper than the maximum flexi fare of corresponding classes of existing Rajdhani
  
  8:02 PM - Oct 13, 2017
• The Super Rajdhani will run thrice a week.
• The train will start at 4:15 pm from Hazrat Nizamuddin station, Delhi.
• It will halt at Kota, Vadodara, Surat and reach Bandra Terminus at 6:10 am on the next day.
• It will then start at 4:05 pm from Mumbai and reach Delhi at 6 am the next day.
• This will help travellers avoid morning traffic and enable them to reach home in the morning, the Ministry of Railways said.
• There is also an option to have tea, coffee and dinner at inexpensive rates while travelling on the train, the Railways Ministry added.
• The Super Rajdhani will be hauled by two locomotives for better acceleration, deceleration and higher speed.
  
  Follow
  Ministry of Railways
  
  ✔@RailMinIndia
  4/The train will be hauled by two locomotives for better acceleration, deceleration and higher speed.
  
  8:01 PM - Oct 13, 2017
  
  
• The passengers also have a choice to opt out of the catering services.
  
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  Ministry of Railways
  
  ✔@RailMinIndia
  6/The catering services in this train will be optional and the passengers shall have the choice to opt out of catering services.
  
  8:03 PM - Oct 13, 2017
  
  
  (with PTI Inputs)

 

[Hindustani78]

Oct 17, 2017 17:14 IST

9/10
With Maharashtra State Road Transport Corporation (MSRTC) workers going on an indefinite strike from October 16 midnight, PCMC’s ST Depot wore an empty look on Tuesday. Hundreds of commuters travelling across Maharashtra were left stranded. (HT PHOTO)

9/10
Stranded passengers gather around an official to know the status of the strike and to check on the fate of their reservation tickets. (Rahul Raut/HT PHOTO)

9/10
MPSupriya Sule interacts with commuters who were stranded following the bus strike at Swargate bus depot on Tuesday. (Rahul Raut/HT PHOTO)

9/10
Passengers coming from various parts of the states, who were in Pune to get on connecting buses were also seen waiting at Swargate bus depot on Tuesday. (Rahul Raut/HT PHOTO)

9/10
Passengers coming from various parts of the state, who were in Pune to board connecting buses, were also seen waiting at Swargate bus depot on Tuesday. (Rahul Raut/HT PHOTO)

9/10
Almost none of the buses were active at the Swargate bus depot. (Rahul Raut/HT PHOTO)

9/10
Even luxury buses participated in the strike with almost all of them not plying on the roads of Pune on Tuesday. (Rahul Raut/HT PHOTO)

9/10
ST bus workers’ demands include implementation of Seventh Pay Commission and 25 per cent interim hike. (HT PHOTO)

9/10
A board at PCMC ST bus depot requests passengers to cooperate with the strike and is duly signed by the manager of PCMC Bus Depot. (HT PHOTO)

 

[Hindustani78]

Ministry of Commerce & Industry
18-October, 2017 10:51 IST
CIPAM-DIPP Launches Logo and Tagline Contest for Geographical Indications of India



The Cell for IPR Promotions & Management (CIPAM) under the aegis of the Department of Industrial Policy Promotion (DIPP), Ministry of Commerce and Industry, has launched a logo and tagline/slogan contest for Geographical Indications (GIs) of India on MyGov.in website.


A Geographical Indication (GI) is primarily an agricultural, natural or a manufactured product (handicrafts and industrial goods) originating from a definite geographical territory. Typically, such a name conveys an assurance of quality and distinctiveness, which is essentially attributable to the place of its origin. Some of the examples of registered Indian GIs are Darjeeling Tea, Tirupathi Laddu, Kangra Paintings, Nagpur Orange, Kashmir Pashmina etc.


GIs are not only part of our rich culture and collective intellectual heritage, but they also supplement the incomes of our rural farmers, weavers, artisans and craftsmen across the country. The promotion of GIs is in line with the Government of India’s ‘Make in India’ campaign and therefore, it is our responsibility to preserve and protect them.


Taking forward its ongoing social media campaign #LetsTalkIP to promote Indian GIs, DIPP aims to launch a certifying GI mark/logo that can be used to identify all registered GIs irrespective of the categories, and a suitable tagline/slogan for promotion of GIs. This will also help in engaging more people on the subject of GIs and making them aware about the benefits of a GI tag.

DIPP has taken several initiatives for promoting awareness and outreach on GIs. One of the ways to promote GIs could be to present them as gifts. In this context, CIPAM has also launched “Gift a GI” campaign to enhance the visibility and thus help in branding and promotion of registered GI products. DIPP is also working with State governments to spread awareness on GIs.

This contest is an opportunity for creators who aspire to see their creation recognized on a national platform. The last date for receiving entries is 17th November, 2017. The winning entry will receive a cash award of Rs. 50,000/- each, for logo design and slogan for GIs of India.



The details of the logo competition for ‘Design a Logo and Suggest a Tagline Competition’ can be obtained from MyGov.in online platform.


The complete list of all registered GIs in India can be viewed here. http://www.ipindia.nic.in/registered-gls.htm


***

 

[Soumitra]

Proof that Indian Economy is in doldrums. GST and Demonetization has killed the Indian Economy

India's largest two wheeler maker Hero MotoCorp Ltd. sold a record 3 lakh units and more in a single day on Dhanteras, October 17.


https://www.bloombergquint.com/business/2017/10/20/hero-motocorp-registers-record-sales-on-dhanteras

 

[Hindustani78]

http://www.hindustantimes.com/india...hal-pradesh/story-4YLhaTTsMK7yzi3jL2AreP.html

At least six people were injured after a concrete bridge, linking Chamba town in Himachal Pradesh with Pathankot in Punjab collapsed
india Updated: Oct 20, 2017 08:20 IST

Asian News International, Chamba

Six injured after a bridge collapsed in Himachal Pradesh’s Chamba on Thursday.(ANI Photo)

At least six people were injured after a concrete bridge, linking Chamba town in Himachal Pradesh with Pathankot in Punjab, collapsed on Thursday due to sheer negligence.

The injured have been taken to Pandit Jawaharlal Nehru Medical College and immediate treatment has been given to them.

District Collector, Sudesh Kumar Mokhta with other officials reached the spot and took charge of the situation.

“The collapse of the bridge is because of a default in the construction map or the poor use of material in the construction. We have ordered an inquiry and action will be taken,” he said.

The moment when the incident occurred, a car, a mini truck and a motorcycle was passing the bridge.

Consequently, when the bridge collapsed, the motorcycle fell into the river, while the car and the mini truck got stuck.

The 15-year-old bridge was constructed under the National Bank for Agriculture and Rural Development (NABARD).