Indian Economy-News & Updates

[Śakra]

New Alstom design of eLOCO which will be built at new factory in Bihar. Wag10?

Model presented to Railway Minister Suresh Prabhu

Why is there cattle guard and bars over window??

 

[A Basu]

I too keep asking the same question, it spoils the aesthetics of such a beautiful loco. Makes them look colonial.

I guess it is meant to protect the cab from projectiles like stones (People throw them for no reason)....but there are glasses sturdy enough to withstand without bars.

 

[Hindustani78]

Ministry of Railways
01-April, 2017 16:18 IST
The Railway Protection Force (RPF) organized its Investiture Parade – 2017

The Railway Protection Force (RPF) organized its Investiture Parade – 2017 on 01.04.2017 at 6th Bn. RPSF, Dayabasti, New Delhi. The Minister of Railways Shri Suresh Prabhakar Prabhu was the Chief Guest. On this occasion Chairman, Railway Board Shri A.K.Mital, Member Staff Railway Board, other Board Members, senior Police officers of Central Police Organisations and senior officer of Government of India may also attend. Director General, RPF Shri S.K.Bhagat delivered the welcome address at the function.


Minister of Railways presented awards to RPF officers / RPF personnel on this occasion. It is quite gratifying for the RPF, that 03 officers/ RPF personnel received the prestigious President’s Police Medal for Distinguished Services, and 43 with Police Medals for their Meritorious Service. Other awards like Railway Minister’s award for Best Investigation, and Railway Minister’s Award for Bravery were also given to the deserving RPF/ RPSF personnel.


The Railway Minister inspected the parade and took salute.


Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu, appreciated the recipients of President’s Police Medal (PPM), President’s Medal (PM) and Bravery Award and told that it should be a motivation for others to perform meritorious work aspiring such medals.


He said that RPF is also performing duties connected with aid to civil power such as bandobust for assembly and parliament elections in addition to providing security to Railway property, passenger and passenger area.


Shri Suresh Prabhu said Railways being a lifeline of the nation the role of RPF is important in providing security to passengers and RPF is escorting 2500 Mail/ Express trains daily. RPF is conducting regular drives in Railway premises.


He pointed out that a twitter handle and Security Helpline No. 182 is functional round the clock providing security related assistance to passengers. A total of 18,000 complaints have been promptly dealt in 2016.


He said that RPF has been doing commendable work by extending special concern towards senior citizens, infirm, differently abled, women and children by rendering timely assistance.


He said that in order to prevent crime against passengers, CCTV camera surveillance is being implemented at 983 at Railway stations by incurring 500 crore. Integrated Security System is implemented to strengthen the security. For ensuring security to lady passengers, different lady RPF escorting teams named viz: Bhairvi, Vaishali, Shakti, Nirbhaya and Tejaswini are functional. Mobile app specially for lady passengers is also operational.


Shri Suresh Prabhu stated that in view of the recent incidents of track tampering, subversive activities, etc. frequent coordination is being maintained by RPF intelligence with other Central/ State intelligence agencies so that such incidents can be foreseen and thereby to take remedial action timely. RPF will also develop a intelligence cell of its own. I have also permitted to establish Forensic Science Lab to accelerate the enquiry on priority basis.


Shri Suresh Prabhu said that I have sanctioned restructuring for the non gazetted cadre in RPF so that they will get promotion as well as motivation. The cadre review for gazetted cadre is being processed.


Shri Suresh Prabhu said that the role of Dog Squad is vital in security matter and I approved in principle to establish a centralised dog training centre.



He said that we will contiutue modernization of RPF and will create a special technology centre for this purpose.


Shri Suresh Prabhu said that I am always concerned about the strengthening and improvements of RPF. I want RPF to perform their duties with utmost devotion and dedication. I sincerely thank RPF and their families for the scintillating parade performance and the meritorious service rendered to the nation. I firmly believe that RPF would elevate the reputation of Indian Railway by their meritorious service.


In his welcome speech, Director General, RPF Shri S.K.Bhagat said that RPF is in the forefront of service to the nation. Our officers and staff have been decorated with awards. Three President’s Police Medal for Gallantry, 78 President’s Police Medal for Distinguished Service, 735 Police Medals for Meritorious Service, 18 Police Medal for Gallantry, 31 Railway Minister’s Medal for Bravery, 32 Minister’s Medal for Best Investigation have been awarded to members of RPF so far. Shri Bhagat that for security of passengers, RPF is conducting regular drives in Railway premises and prosecuted 23,21,939 offender under various provisions of Railway Act to make Railway crime free. Also apprehended 5,856 criminals involved in theft of Railway properties with the recovery of Railway property worth 4.73 crores during 2016. Shri Bhagat said that to strengthen security of women passengers 12 Mahila Vahinis (women RPF companies) are deployed in major Zones for effective women security. All Ladies Special trains including certain women coaches are being escorted by RPF women Constables.



BACKGROUNDER:




Investiture Ceremony is an occasion to recognise and honour the meritorious, distinguished and gallant members of the Force for their deeds in the service of the Nation and in enhancing the image of the Force. The giving away of these honours on behalf of the President of India by Minister of Railways evokes a sense of pride and dignitary to the recipients and the Force personnel.


The Railway Protection Force (RPF) has come a long way from the Watch & Ward era of 1882 to the present day wherein it is now entrusted with not only protection of Railway Property but also providing security to railway passengers, passenger area of the Indian Railways. The 76,563 strong Force working under the Ministry of Railways works tirelessly to serve 23 million passengers travelling daily apart from guarding huge Railway assets spread across the country. The award of the President’s Colour to the RPF in 2006 is an indication of the gowing stature of the Railway Protection Force.


Having been vested with powers of investigation under the RP(UP) Act & Railways Act, the Railway Protection Force arrests & prosecutes offenders committing crime over the Railways. The Force faces diverse security challenges such as crime against railway property and passengers, extremist violence against railways, obstruction to train movement/ Rail Rokos due to political agitations, flash protests by daily commuters, rescue of runaway, lost and trafficked children, ticketless drives, drugging, narcotics, smuggling of contraband material and FICN, etc. A good number of unauthorized vendors, touts, males in ladies compartment, offenders at level crossing, offenders indulging in unauthorized chain pulling, carriers of dangerous goods, etc. are prosecuted in the best interest of the travelling passengers ensuring better security atmosphere in Indian Railways.


CCTV surveillance cameras have been installed at major stations under Integrated Security System (ISS). Besides, Baggage Scanners, Door Frame Metal Detectors, Hand Held Metal Detectors & Bomb Detection equipment items have also been installed/ procured under ISS. The RPF Security Management System (RSMS) (developed by CRIS) has started functioning in 2013 for communication with Zonal Railways through ‘Railnet’ for taking prompt action on real time basis and to reduce the paper work. The increasing use of technology by RPF to ensure safety and security of rail passengers is evident in the launching of Security Apps on mobile phones of rail passengers, especially women, for alerting RPF has been initiated in Central Railway (M-Indicator), South Central Railway (RISSTA) and Eastern Railway (R-Mitra). Efforts are being made to standardize an App on an All India basis.


An “All India Security Helpline” has been set up in Feb. 2015 over Zonal Railways by providing a common Helpline No. 182 for round the clock security related assistance to passengers. Calls related to offences under the Railways Act, theft of passenger belongings, for medical assistance, luggage left behind, nuisance mongers in trains / railway premises, etc. are received and suitable action initiated. A good number of passenger appreciation have been received in this front.



A Standard Operating Procedure (SOP) was issued in collaboration with Ministry of Women & Child Welfare for the care & protection of children on Railways. The work of RPF in rescue of children from traffickers was recognized by the Ministry of Home Affairs. The National Conference of Anti Human Trafficking held at New Delhi - 2015, the Union Home Minister Shri Rajnath Singh presented Certificate of Excellence to RPF for commendable contribution of RPF during “Operation Smile” in the field of Anti Human Trafficking. RPF rescued more than 12,000 juveniles from trains and Railway stations during the last two years (2015 & 2016).

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu inspecting the Parade at the Railway Protection Force Investiture Parade 2017, at Old Rohtak Road, Dayabasti, Delhi on April 01, 2017.

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu at the Railway Protection Force Investiture Parade 2017, at Old Rohtak Road, Dayabasti, Delhi on April 01, 2017.

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu presented the police medals, at the Railway Protection Force Investiture Parade 2017, at Old Rohtak Road, Dayabasti, Delhi on April 01, 2017.

http://zeenews.india.com/india/rpf-...strengthened-to-prevent-sabotage-1991885.html

New Delhi: The Railway Protection Force (RPF) will strengthen its intelligence network in coordination with central and state agencies to foil attempts on sabotaging railway operations.

Besides, the railways will also set up a forensic laboratory and make use of latest technology to make train journey safer.

"Some anti-national forces are trying to create problems in rail operations but we will not let them succeed, and I expect you to be more vigilant," Railway Minister Suresh Prabhu told personnel at the RPF Investiture parade today.

The remark comes in the backdrop of repeated incidents of placing obstruction on tracks and attempts of cutting tracks by miscreants. The first two months of this year have witnessed close to 20 such cases.

Presenting awards to RPF personnel on the occasion, Prabhu said, "Threre are attempts to sabotage rail operations in the country. The RPF in coordination with the state police, intelligence agencies, the NIA, is trying to fail their repetoja attempts."

He asked the RPF to strengthen intelligence gathering and sharing system to prevent sabotage.

Forty-three RPF officers and personnel were awarded on the occasion for their meritorious services.

Highlighting the need for use of modern technology in RPF operation, Prabhu said, "We have to use advanced technology as the technological intervention is necessary, besides the policy framework."

Railways will set up a technology centre to facilitate the use of modern technology in its functioning.

"We have decided for setting up forensic laboratory for RPF and also a centralised dog squad training cente will be constituted. There will be no fund constraints for forensic laboratory and dog squad training centre," Prabhu said.

The Central Forensic Science Laboratory would be created for forensic requirements of railways at an estimated cost of Rs 70 crore.

In order to strengthen railway security, a centralised dog training centre will be developed as state-of-the-art in-house facility for training of dogs. It will enhance capabilities of RPF in detection of explosives and inspection of scene of crime.

Prabhu also asked the RPF to take part in environment protection measures like water bodies conservation and plantations.


First Published: Saturday, April 1, 2017 - 15:31

 

[RISING SUN]

Apple opens App Accelerator in India to foster iOS app development
Apple is taking further steps to foster the developer ecosystem in the world’s fastest growing smartphone market.

The Cupertino-based company today officially opened a new App Accelerator in Bangalore, India. The announcement comes less than a year after the company announced plans to open iOS App Design and Development Accelerator also in India’s Silicon Valley. Through the new App Accelerator (sign up here, if you're a developer), the company hopes to offer specialised support to developers as well as tools to help them push the boundaries.

At the centre, a group of experts will lead briefings and provide one-on-one app reviews for developers. The company is calling it "the first-of-its-kind facility" for the nation which already has tens of thousands of developers making apps for iOS.

“We are impressed by the great entrepreneurial spirit in India, and are excited to provide a platform for these developers to share their innovations with customers around the world," said Phil Schiller, senior vice president of Worldwide Marketing in a press statement.

Schiller is on his maiden trip to India for the opening of the App Accelerator. It's not clear if he has any additional business in the country.

“In just the first few weeks, we’ve already seen some incredible developers here at the App Accelerator Bengaluru, including Practo and Reliance Games, create innovative apps that can meet the needs of customers in India and around the world,” he added.

Over the past two years, Apple has grown more focused on India. In addition to setting up development centres, the company is also about to begin manufacturing locally in the nation, a move that would allow it to cut the prices of the iPhones for the Indian market.

With Apple's push to turn India into its next major market, it will pay in the long run to have quality apps that solve local problems on the App Store. The company's global rivals Facebook, Microsoft, and Google have also made efforts to build developer communities in India.
http://mashable.com/2017/03/31/app-accelerator-india-apple-bangalore/#9t4AuV4rNiqm

 

[RISING SUN]

'Northeast Railway did outstanding work in laying tracks'
Northeast Frontier Railway (NFR) has done outstanding work in laying new railway tracks in the mountainous northeastern region despite various odds, an official said here on Friday.

"Despite various topographical and many other odds, the NFR has done outstanding works in laying new railway tracks in the hilly northeastern region," Commissioner of Railway Safety (CRS) Shailesh Kumar Pathak told reporters.

"The NFR laid the new railway tracks and did gauge conversion from metre gauge to broad gauge giving top priority in safety and standard," Pathak said.

Earlier on Friday, the CRS, accompanied by NFR officials and engineers, conducted an inspection of the newly laid 9.26 km Udaipur-Garjee section, which is part of the Agartala-Sabroom 114-km-long railway project.

Indian railways have been executing the Rs 1,150-crore Agartala-Sabroom railway project and it will be completed by March 2019 to access the Chittagong international sea port to ferry men and material for the landlocked northeastern states.

Tripura's border town Sabroom is only 75 km away from the Chittagong international sea port in southeast Bangladesh.

Pathak said the speciality of the 9.26-km Udaipur-Garjee section is that there is no level crossing in this section, as six road-over-bridge and six road-under-bridge were constructed to facilitate the people cross the railway tracks and stations.

"Over 40 per cent accidents on Indian railways occur in the vicinity of level crossings. That's why this Udaipur-Garjee section is very unique," the official said expressing deep satisfaction at the construction and quality of the newly laid segment.

In October 2008, with the extension of the erstwhile metre gauge track upto Agartala, the capital city was put on India's rail map through southern Assam. Subsequently, the metre gauge was converted into a broad gauge.
http://www.business-standard.com/ar...ing-work-in-laying-tracks-117033101141_1.html

 

[RISING SUN]

Enforcement directorate hunts 300 shell companies, Bhujbal, Jagan Reddy on radar
India’s financial crime investigation agency on Saturday raided more than 100 locations across 16 states in a sweeping crackdown on dubious companies suspected of money laundering on behalf of businesses and individuals including two top politicians.

The Enforcement Directorate (ED) launched the early morning raids targetting 300-odd shell companies, many of which are fronts for a slew of illegal transactions and crime and act as the backbone of India’s huge shadow economy. The raids were carried out under ‘Operation Shell Companies’.

“Some of the companies were involved in major money laundering cases related to Chaggan Bhujbal, YS Jagan Mohan Reddy, Yadav Singh, NHRM, AGS Infotech, Rajeshwar Exports etc while some other entities were found to have been used for laundering demonetised currency during post demonetization period,” the ED said in a statement.

Some of the searches were also in connection with a scam in the National Rural Health Mission scam in Uttar Pradesh as well as one involving the Jain brothers of Delhi, who were named by the agency when it attached a hotel in Dwarka managed by Radisson Blu in a money laundering case.

An agency official said the operation had three specific targets -- bogus import businesses, premises being used for conversion of black money to white and entry operators, actual people involved in money laundering.

“Investigations had revealed that certain entry operators and fraudsters were using network of companies (to launder money), some of which have been used repeatedly while some other were discarded after use or kept dormant for a long period,” said ED spokesperson AK Rawal.

“Some other entities were found to have been used for laundering demonetised currency during the post-demonetisation period,” Rawal added.
WHAT ED FOUND OUT DURING THE RAIDS

Among the 110 locations raided by ED included one allegedly belonging to a person named Jagdish Prasad Purohit. Purohit allegedly admitted that he had formed around 700 shell companies using 20 dummy directors. Out of 700 fake firms 130 are still in existence. “He had also provided accommodation entry to the tune of rupees 46.7 crores to Chhagan Bhujbal,” ED said in a statement.
The directorate said that in Kolkata, more than 50 companies had the same registered address which was found to be a vacant residential premises . When questioned, the landlord of the premises said he had let out the premises three years ago to an individual who disappeared in December.
An entry operator connected to Rajeshwar Exports was also searched by ED. The company, according to ED, had made remittances to the tune of Rs 1476 crores for import of diamonds which were grossly overvalued.
A chartered accountant located at Delhi’s Barakhamba Road was found to have formed 200 shell companies
A shell company was found to have exported carpets to its sister concern incorporated outside India. The export proceeds were never realised and the person behind these companies had applied to RBI for writing off of outstanding export proceeds.

An operator in Mumbai, identified as Jagdish Prasad Purohit, was allegedly found to be running 700 shell companies with 20 dummy directors. The operator is accused of converting ₹46.7 crore of illegal cash to legal money for Bhujbal, a former Maharashtra deputy chief minister who is in jail on laundering charges.

After the government pulled out 86% of India’s cash in circulation last November to stamp out corruption and illegal transactions, many of these firms helped tax evaders convert slush funds into legal money, experts say.

Senior ED officials said while no one was arrested during the raids, questioning of the suspects was underway.

Officials said multiple teams of the ED raided premises of suspected shell firms in Delhi, Chennai, Kolkata, Chandigarh, Patna, Ranchi, Ahmedabad, Bhubaneswar and Bengaluru, among others.

An HT investigation in January found thousands of phantom businesses and drop-box addresses masquerading as company headquarters registered in Delhi and Kolkata alone.

A source in the agency said some shell companies were found to have remitted huge amounts to other countries for imports which never took place. These companies, the sources said, are being probed for their alleged links to Reddy. The official added that Yadav Singh and Bhujpal are being probed for conversion of black money to white.

The drive was part of a recent PMO directive to check the illegal operations of these companies.

At one of the premises in Mumbai, a scanned copy of an apparently fake Interpol ID card bearing the name of one Chetan Shah was found on a laptop.
http://www.hindustantimes.com/india...urday-raids/story-88oRJ36ThTTeWFWPFqmH5M.html

 

[ashok321]

Multi-level fire alarm system in Rajdhani, Tejas EXP

http://economictimes.indiatimes.com...em-in-rajdhani-tejas/articleshow/57969987.cms

 

[RISING SUN]

Indian Railways carried 1,107 million tonne goods in 2016-17, exceeded target
The railways carried 1107 million tons of goods, exceeding the freight target despite the gloomy market scenario in 2016-17 fiscal.

The loading target was fixed at 1160 MT in the 2016-17 which was later revised to 1094 MT, keeping the prevailing market condition in mind. It had carried 1104 MT freight in 2015-16.

The railways earned Rs 1.67 lakh crore in 2016-17 fiscal from freight, as against Rs 1.63 lakh crore in the last fiscal.

"We managed the record loadings this time despite the adverse market condition due to the several reforms undertaken in the freight sector," Railway Board Member (Traffic) Mohd Jamshed said.

"Continuous hike in freight rates over the years had made the freight rate very high which resulted in shifting of goods from rail to roads," he said.

Reviewing the situation, Railway Minister Suresh Prabhu initiated a series of reforms in the freight sector including withdrawal of busy season surcharge and port congestion charge, among others, to make the rates competitive.

Introduction of freight rebate, liberal siding policy and private terminal policy and creation of rail auto hub helped to increase the loadings, he said.

Jamshed said, "There was a sharp fall in the coal demand due to various reasons and it affected the loadings between April and October in 2016."

Since coal is the major source of loadings among all other commodities, the fall in coal demand affected the Railways adversely, he said.
"However, we started looking beyond coal and started carrying other goods like stone, vegetable oil, chemical, fly ash, red mud, timber and many other such goods. As a result we carried 79.9 MT other goods in the year," he added.
http://energy.economictimes.indiati...nne-goods-in-2016-17-exceeded-target/57969785

 

[RISING SUN]

Connected by air: Udan to tap on India’s civil aviation opportunities
Six months from now, 43 cities will be mainstreamed on India’s flight connectivity grid, an outcome of the Udan scheme launched to spur regional flights covering distances up to 800 km. These include a dozen airports where limited but irregular flights operate, and as many as 31 destinations that are not connected at all despite the existence of airport facilities. The scale of India’s untapped civil aviation opportunities can be gauged by the fact that these constitute less than 10% of India’s inactive airports/airstrips — 394 out of 450 are dormant currently. The Udan scheme is a critical component of the national civil aviation policy unveiled last June. It offers viability gap funding to operators to fly smaller aircraft to such airports with a commitment to price tickets for at least half of the seats at ₹2,500 for an hour-long flight. In the first round of bids, 11 new or existing airline operators pitched for more than 200 routes. The Centre has approved 27 proposals from five players, adding 128 routes to India’s aviation map. The estimate is that this will add 6.5 lakh new seats with a subsidy of ₹200 crore.
Also Read

44 airports have potential for operations under UDAN: report


The most heartening aspect is that these include six proposals for 11 routes that don’t seek any subsidy under the scheme, proving there is an untapped economic potential. The benefits for tourist hotspots such as Agra, Shimla, Diu, Pathankot, Mysuru and Jaisalmer — that would now be just a short flight away, replacing cumbersome road or rail journeys — are obvious. But the significant multiplier effects of aviation activity, including new investments and employment creation for the local economies of other destinations could be equally profound. Provided this model is sustainable and more regional flights come up under the scheme, the availability of slots at larger airports that would emerge as hubs could become an issue — particularly at capacity-constrained airports such as Mumbai. The second airport at Navi Mumbai may help ease congestion, but that is still years away. In cities where new airports have been developed, such as Bengaluru, abandoned old facilities could be revived as dedicated terminals for low-cost and regional flights. Separately, new no-frills airports must be encouraged where traffic is expected to hit saturation point in coming years. Recently, four new foreign investors and a few domestic players have expressed interest in managing operations at state-run airports such as Jaipur and Ahmedabad. This marks a revival in investor interest after a long lull. It is time to revisit provisions that offer existing private operators of large airports (burdened by debt) the right of first refusal on any new airport proposed within 150 km. Most interested bidders for the Navi Mumbai airport stayed away over this clause. Last but not the least, this development must start a rethink within the Indian Railways, as it could now lose traffic on some routes.
http://www.thehindu.com/opinion/edi...il-aviation-opportunities/article17752893.ece

 

[RISING SUN]

EY to launch its first artificial intelligence centre in India
Ernst and Young (EY), the leading global professional services organisation, on Friday announced its plans to enhance its suite of automation and artificial intelligence offerings with the opening of its first Artificial Intelligence (AI) Center in India.

The AI Center resonates with EY’s purpose of “building a better working world”, by helping businesses to accelerate innovation and leverage on emerging technologies to operate more efficiently, manage risk and inspire confidence.

Milan Sheth, Partner – Advisory Services and Technology Sector Leader, EY India, said: “The current wave of digital innovation is disrupting sectors and businesses in unprecedented ways. The Center will help organizations find new ways to deploy new technologies across a range of functions in their business environment and build a more digital workforce of the future.”

EY’s AI Center will bring together teams of multi-disciplinary practitioners, combining expertise in AI, robotics etc. along with domain experience in sectors.
According to Sheth, artificial intelligence is already being deployed across industries such as automotive, telecom and technology. The launch of the AI Center, he said, aims to lead the next step of this transformation journey by helping enterprises combine AI’s autonomous reasoning with systemized learning opportunities.”
http://www.moneycontrol.com/news/bu...ial-intelligence-centre-in-india-2250957.html

Higher spends by banks, govt driving India's storage solution market: IDC
India's external storage solution market grew by 17.5 per cent to $ 77.8 million in October- December 2016 compared to the preceding quarter, driven by higher spends by banks and government, as per research firm IDC.
Sectors like banking, professional services, manufacturing and government continued to be the key contributors in the last quarter of 2016, IDC said in a report.

The growth was driven by renewal of deals by large banks as well as increasing adoption of analytics and UPI platforms (that in turn increases storage consumption), it added.

Significant growth was witnessed in verticals such as securities, transportation, education and insurance, which drove incremental storage revenues in the said quarter, the report added.
EMC led the market with 27 per cent share, followed by Hewlett Packard Enterprise (19 per cent), IBM (14 per cent) and Dell (12 per cent).
http://economictimes.indiatimes.com...-solution-market-idc/articleshow/57972021.cms

India's external debt declines to USD 456 billion in Dec'16
India's total external debt declined to USD 456 billion at the end of December from end-March 2016, says a Finance Ministry report. "India's external debt stock fell by USD 29.0 billion (6.0 per cent) to USD 456.1 billion, at end-December 2016 over the level at end-March 2016," an official statement said.

The decline in external debt during the period was due to the fall in long-term external debt, particularly the fall in NRI deposits reflecting the redemption of FCNR (B) deposits and decline in commercial borrowings with fall in both commercial bank loans and securitized borrowings, it said.

On a sequential basis, it said, total external debt at end-December 2016 declined by USD 28.1 billion (5.8 per cent) from the end-September 2016 level.

The maturity pattern of India's external debt indicates dominance of long-term borrowings. At end-December 2016, long-term external debt accounted for 81.6 per cent of India s total external debt, while the remaining 18.4 per cent was short-term debt.

Government (Sovereign) external debt stood at USD 90.7 billion at end-December 2015 while non-Government debt amounted to USD 389.5 billion, it said.

While long-term debt at USD 372.2 billion, declined by USD 29.4 billion (7.3 per cent) at end-December 2016 over the level at end-March 2016, short-term debt increased marginally by 0.5 per cent to USD 83.8 billion.

The valuation gain (appreciation of the US dollar against the Indian rupee and most other major currencies) was USD 7.3 billion.

This implies that excluding the valuation effect, the decrease in external debt would has been lower at USD 21.7 billion at end-December over end-March 2016.

The shares of Government (Sovereign) and non-Government debt in the total external debt were 19.6 per cent and 80.4 per cent respectively, at end-December 2016, it said.

"The share of US dollar denominated debt was 54.7 per cent of the total external debt at end-December 2016, followed by the Indian rupee (31.1 per cent), SDR (5.9 per cent), Japanese yen (4.4 per cent), Euro (2.7 per cent), Pound Sterling (0.7 per cent) and Others (0.5 per cent)," it said.

Many key external debt indicators of India show improvement at end-December 2016 over end-March 2016, it said.

Besides, total external debt falling by 6.0 per cent during this period, the foreign exchange cover for external debt increased to 78.7 per cent from 74.3 per cent and the ratio of concessional debt to total external debt increased to 9.2 per cent from 9.0 per cent, it said.

Though, the share of short-term debt (original maturity) in total debt increased to 18.4 per cent from 17.2 per cent during this period due to rise in trade related credits, the share of short term debt (residual maturity) in total external debt fell to 41.4 per cent from 42.6 per cent, it said.
http://www.businesstoday.in/current...o-usd-456-billion-in-dec-16/story/249152.html

 

[RISING SUN]

Mizoram set to become power surplus third state in the northeast
Two decades after it got Union cabinet approval, a 60 MW project in Mizoram will see the light of day in June making the hilly state the third power-surplus state in northeast India after Sikkim and Tripura. Farmers’ agitations and administrative hurdles delayed the commissioning of the power plant, the biggest in Mizoram, which shares a border with Myanmar (510 km) and Bangladesh (318 km).

State-run North Eastern Electric Power Corporation (NEEPCO), a “Mini Ratna” company under the Union Ministry of Power, will be commissioning the hydro-electric project along the Tuirial river in Aizawl district. “The first unit would start generation in June and the second unit in September,” NEEPCO general manager P.K. Bora told IANS.

“The Cabinet Committee on Economic Affairs (CCEA) cleared the project on July 7, 1998. The project was conceptualised in 1994. NEEPCO has so far invested Rs 1,100 crore on the project.” After the project work started, the locals launched a massive agitation due to submerging of their standing crops and farmland under the reservoir that would be created.

“The project work came to total stop on June 9, 2004, due to the stir launched by the newly-formed Tuirial Crop Compensation Claimant Association, claiming compensation for the standing crops in the riverine reserve forest,” Bora said.

“After the Union Power Ministry, NEEPCO and the Mizoram government jointly negotiated with the agitators, work resumed in 2011 after seven years of stoppage.”

Till June 2004, 30 per cent of the project work and 95 per cent of the design and engineering work had been completed. The NEEPCO official said that though the company has invested Rs 1,100 crore so far due to delay and price escalation, the original sanctioned cost was Rs 369 crore.

With a population of just 1.1 million, Mizoram’s current demand of electricity is only 85 MW and this is being met by state’s mini power projects and availability of its share of power from central sector projects. Thus, the additional power is likely to be supplied to the regional or national grid.

Sikkim is self-sufficient at 95.70 MW while Tripura, whose daily need is 272 MW, is self-reliant in electricity. Since March last year Tripura is supplying 100 MW of power to Bangladesh and is ready to provide an additional 100 MW if the central government permits it to do so.
http://www.india.com/news/india/miz...surplus-third-state-in-the-northeast-1861560/

 

[RISING SUN]

Indian Railways to manufacture own trainsets running at 160 kmph in Chennai
The railways has decided to go ahead with manufacturing on its own trainsets that can run at a maximum speed of 160 kmph, after its global bid in this regard failed to elicit positive response.

Aptly named ‘Train-2018’, the first trainset -- a rake without a separate locomotive -- is expected to be ready by March next year and likely to be pressed into service in Delhi-Lucknow or Delhi-Chandigarh sector.

A trainset, much like a Delhi Metro rake, comprises many coaches that are individually powered by a propulsion system, eliminating the need for locomotive.

“Our aim is to reduce travel time between cities and to achieve that, we have launched Train-2018 project to manufacture two trainsets at the Integral Coach Factory (ICF) near Chennai on a pilot basis,” a senior railway ministry official involved with the project said.

As per the Rs 200 crore project, two trainsets will be manufactured, in collaboration with foreign players on transfer of technology basis, for which the ICF has floated a fresh global tender.

Aiming to offer both comfort and pace to passengers, the project will roll out semi-high speed, 16-coach trainsets with quicker acceleration and world-class passenger amenities.

For a first in Indian Railways, these trainsets will have automatic plug type doors that will open and close at stations, wide windows for panoramic view, and ergonomically designed seating.

The railways had floated a global tender for procurement- cum-maintenance and manufacture of 15 trainsets with 315 coaches in June, 2015. Though five bidders had qualified for the initial round, they did not find the offer viable and asked for raising the tender size to 1,000 coaches.

Now, it has been decided to make it here to reduce the manufacturing and import cost, said the official.

Equipped with bio-toilets, all coaches in the fully AC trainset will be inter-connected so that passengers can move from one coach to other with ease.

To make the travel more a joyful ride, all coaches of a trainset will be provided with onboard Wi-Fi, infotainment and GPS-based passenger information system (PIS) which will keep the passengers informed about the travel status. The train will have plush interiors and diffused LED lighting.

To reduce jerk and vibration, Train-2018 will be equipped with improved mechanical couplers and modern coaches with fully suspended traction motors, pneumatic secondary suspension and anti-roll bar.
www.hindustantimes.com/india-news/indian-railways-to-manufacture-own-trainsets-running-at-160-kmph-in-chennai/story-NQMdQKG9yxe4W6qA9Ck5nM.html

 

[RISING SUN]

6604 km of national highway constructed till February
http://economictimes.indiatimes.com...ll-february/articleshow/57559948.cms?from=mdr

Delhi-Jaipur expressway to cost Rs 18,000 crore: Nitin Gadkari
The Delhi-Jaipur express highway would be built at a cost of Rs 18,000 crore, Union Road Minister Nitin Gadkari said on Friday. The advanced cement-concrete 225-km express highway will be the second in the country after Mumbai-Pune express highway and will pave the way for reaching Delhi from Jaipur in just one-and-a-half hour at 125 km/hour speed, the minister said after laying the foundation of road construction works in Dausa district on Friday.
“Agra-Delhi is also considered express highway but it is not as per the standard. After Mumbai-Pune express highway, Delhi-Jaipur will be the second express highway in the country,” he said.

He further said that the Haryana government has given alignment permission and if Rajasthan help in land acquisition and road alignment permission, the work can commence this year itself.

The Union minister said that Mumbai-Baroda express highway is also in the plan.

On the long-pending Ring-Road construction work in Jaipur, Gadkari said that a high-level meeting with all the stakeholders was held on Friday and it has been decided that NHAI would complete the work in 15 months.

Gadkari said that in last three years, road construction work of Rs 50,000 crore has been done in the state and another Rs 50,000 crore would be spent in the next two years.

“We need industries to create employment for youths. Industrialists demand water, power and road. Without roads we cannot expect development. Rajasthan is progressing fast. We want industrialists to come, give employment to youths and make Rajasthan and its people prosper,” Gadkari said.

The Union minister announced various road construction works in the state.

Chief Minister Vasundhara Raje said, “We will take 36 castes of the state together for the development of state. With small efforts, we will make the state a better place to live. We hope that promises that Union minister has made will realise fast,” Raje said.
http://indianexpress.com/article/in...to-cost-rs-18000-crore-nitin-gadkari-4564000/

Electronic Tags for Toll Collection at National Highways
The National Highways Authority of India (NHAI) has incorporated Indian Highway Management Company Limited (IHMCL) to expedite the implementation of Electronic Fee Collection (EFC). National Payments Corporation of India (NPCI) has been engaged to work as Central Clearing House (CCH) to implement inter-operability so that several banks could participate in the EFC programme. As on 03.03.2017, the participating banks are SBI, KVB, ICICI, AXIS, IDFC and Equitas SF Bank. As on 03rd March 2017, total 3,47,200 electronic tags have been issued for fee collection on National Highways.

The Road users are being encouraged to use electronic means for payment of user fees for seamless travel through fee plazas. Government has also notified the use of pre-paid payment instruments vide Notification G.S.R 1114 (E) dated 02nd December, .2016 for collection of user fee from road users. This is to permit road users to opt for available cashless modes of payment. NHAI has facilitated the Concessionaire and Contractor to use POS machines for collection of user fees through credit & debit card. Since, FASTag is not mandatory for payment of user fees for use of National Highways; therefore, no target/deadline has been fixed.

This information was given by the Minister of State for Road Transport and Highways Shri Pon. Radhakrishnan in written reply to a question in Lok Sabha today.
http://investinindia.com/news/electronic-tags-toll-collection-national-highways

India clears the decks for multi-modal transnational connectivity play
India is moving ahead with its plans of accessing transnational multi-modal connectivity.

As part of this strategy, the Union cabinet on Monday approved the signing of the Transports Internationaux Routiers or International Road Transports (TIR) Convention by the government.

The multilateral international transit treaty—Customs Convention on International Transport of Goods under cover of TIR Carnets—is also referred to as the TIR Convention and functions under the auspices of the United Nations Economic Commission for Europe (UNECE).

India will be the 71st signatory to this international transit system, designed to facilitate the seamless movement of goods throughout these countries in Asia and Europe. Interestingly, the two countries which signed TIR before India were Pakistan (2015) and China (2016).

Hence, India’s participation in TIR may also facilitate trade with its eastern and western neighbours.

Viewed along with the Indian Railways’s plan of setting up a Trans-Asian Railway (TAR) route presented last week, these intermodal regional connectivity plays succinctly articulate India’s role in the proposed transportation architecture in the region and beyond.

This comes against the backdrop of China’s ambitious “One Belt One Road” initiative aimed at connecting some 60 countries across Asia, Africa and Europe to boost trade and economic ties on the lines of the traditional maritime route.

“(The TIR Convention) is to improve the international connectivity and movement of cargo across the countries in the multi-modal format. Goods can go from Mumbai or Kandla Port to Iran. From Iran they can go via rail or road to Central Asia or Europe,” a senior government official said, requesting anonymity.

In response to Mint’s specific query on TIR Convention facilitating India’s trade relationship with Pakistan and China, a UNECE spokesperson declined to comment.

“With regard to your specific questions, they mainly relate to issues subject to national law or bilateral or regional regulations. Therefore, the UNECE secretariat, which serves to facilitate the administration of the TIR Convention, is not in a position to provide you with specific answers,” the UNECE spokesperson said in an emailed response.

The initiative comes at a time when India’s willingness to attend a meeting of Indus Water commissioners in Lahore later this month is being viewed as an indication that the two countries were ready to start re-engaging after a year of acrimony.

The TIR Convention will help India move goods along the International North-South Transport Corridor (INSTC)—an ambitious multi-modal transportation established in 2000 by Iran, Russia and India to promote transportation cooperation. INSTC is to connect the India Ocean and Persian Gulf to the Caspian Sea through Iran and then onwards to St. Petersburg and northern Europe through Russia.

To make the TAR route of Dhaka-Kolkata-Delhi-Amritsar-Lahore-Islamabad-Zahedaan-Tehran-Istanbul operational, a meeting of the chief executives of the railways of Iran, Bangladesh, Pakistan, Turkey and India is to be held this month in India.

“By joining the convention, the need for inspection of goods at intermediate borders as well as physical escorts en route shall be obviated due to reciprocal recognition of Customs controls. Customs clearance can take place at internal Customs locations thereby avoiding clearances at Border Crossing Points and ports that may often be congested. Movement under the TIR can be allowed by checking only the seals and the external conditions of the load compartment or the container thereby reducing border delays, transport and transaction costs thereby leading to increased competitiveness and growth for the trade and transport sectors,” the government said in a statement on Monday.

Experts say that India is laying down the building blocks.

“Economic integration is the only way forward. When economic interests converge, other things fall in place. That’s the reason why gas from India was intended to fuel Lahore’s kitchens,” said Saurabh Chandra, a former secretary in the department of industrial policy and promotion.

India has been promoting a multi-modal transport strategy involving railways, highways and waterways. The government’s intent was articulated by finance minister Arun Jaitley in his budget speech last month, where he stressed upon the importance of an effective multi-modal transportation system for a competitive economy.

India plans to develop Chabahar port in Iran, which will allow access to landlocked Afghanistan and energy-rich Central Asia through the Jawaharlal Nehru and Kandla ports on India’s west coast.

In addition, India has built a 218km-road link connecting Delaram with Zaranj in Afghanistan, which is adjacent to Iran’s border.

India has also been instrumental in the India-Myanmar-Thailand Trilateral Highway, along with the Bangladesh-Bhutan-India-Nepal Motor Vehicles Agreement.

“The idea behind the TIR concept is easy and quick movement of cargo,” said another government official, who also declined to be named.
http://www.livemint.com/Politics/rv...cks-for-multimodal-transnational-connect.html

 

[RISING SUN]

‘World’s largest fintech hub’ expands from Singapore to India
Four months ago, the world’s largest fintech hub Lattice80, spanning 30,000 square feet, opened in Singapore’s Central Business District. It aimed to help fintech startups take advantage of Singapore’s legal infrastructure and access to global investors as a fintech and trading hub.

Yesterday, Marvelstone – the private investment group behind the project – signed a memorandum of understanding (MoU) with the government of Andhra Pradesh, a southern state in India, to open another Lattice80 in the coastal city of Vizag. This will be the first Lattice80 center to open outside Singapore.
The state of Andhra Pradesh was split into two in 2014 following a long agitation. Ten of its 23 districts, which comprised the former princely state of the Nizam of Hyderabad, were carved out to form a new state of Telangana.

The chief minister of the new, truncated state of Andhra Pradesh, Chandrababu Naidu, who was earlier credited with creating ‘Cyberabad’, is now on a mission to build Vizag into a tech hub. One of the initiatives is the creation of Vizag’s Fintech Valley, where startups, investors, and financial institutions can collaborate with the government’s regulatory support.

The new state of Andhra Pradesh is also a startup.

The Andhra Pradesh chief minister’s special advisor for tech, J A Chowdary, gave a glimpse of the road ahead at a meeting with fintech players on the sidelines of the Fintegrate conclave in India’s financial capital of Mumbai last week. “The new state of Andhra Pradesh is also a startup,” he told them.

One of the initiatives to attract innovators is a million-dollar prize for any fintech startup in the world that wins an annual challenge. The road shows for this year’s competition will go to three Indian cities as well as global fintech cities like Singapore, Hong Kong, and London. The demo day for the finalists, and the award for the winner, will be in Vizag in October.

The state government has also allocated US$75 million for a fintech fund, and is looking for corporate and institutional partners to expand it as well as help with its deployment. The plan is to have a fintech accelerator in Vizag, which will serve as a gateway for startups to become eligible for the fund.

In an informal chat with Tech in Asia at the Mumbai event, Chowdary made no secret of his hope that recent protectionist moves and visa curbs in the West would prompt Indian techies to return home – provided India can create a conducive environment for them to work, innovate, and do business.
Chowdary said the Andhra Pradesh government as well as banks and insurance companies in the state are developing a “use case library” for fintech startups to target. One idea is to launch “AP bitcoins” for transactions like property registrations.

The government has also signed MoUs with five global companies to set up academies in fintech domains like analytics, security, and blockchain. The MoU with Marvelstone to set up Lattice80 in Vizag’s Fintech Valley is a continuation of this build-up.

With Singapore as our base, we hope to reach out to new markets for fintech startups.

“In November last year, we set up Lattice80 in Singapore to support the government’s smart nation vision. Now, we are happy to be part of the new Vizag-MAS (Monetary Authority of Singapore) partnership to support Fintech Valley Vizag. The goal is to bring together industry, academia, and investors to build the fintech ecosystem,” says Marvelstone Group CEO Gina Heng on the MoU with the government of Andhra Pradesh.

As part of the agreement, Lattice80 will train 1,000 professionals in India every year in key new technologies such as mobile payments, blockchain, and big data. The Vizag center is expected to open in the third quarter of this year.

See: 45 hot software product startups from India and their cool ideas

“With Singapore as our base, we hope to reach out to new markets for fintech startups to develop and collaborate. We are very happy to start our overseas journey in Vizag Fintech Valley,” says Marvelstone Group managing partner Joel Ko.

Lattice80 objectives include helping fintech startups to grow, supporting corporates and financial institutions in adopting innovation, and bridging gaps between the private and public sectors.
https://www.techinasia.com/lattice80-expands-from-singapore-to-vizag-fintech-valley

 

[Nilgiri]

‘World’s largest fintech hub’ expands from Singapore to India
Four months ago, the world’s largest fintech hub Lattice80, spanning 30,000 square feet, opened in Singapore’s Central Business District. It aimed to help fintech startups take advantage of Singapore’s legal infrastructure and access to global investors as a fintech and trading hub.

Yesterday, Marvelstone – the private investment group behind the project – signed a memorandum of understanding (MoU) with the government of Andhra Pradesh, a southern state in India, to open another Lattice80 in the coastal city of Vizag. This will be the first Lattice80 center to open outside Singapore.
The state of Andhra Pradesh was split into two in 2014 following a long agitation. Ten of its 23 districts, which comprised the former princely state of the Nizam of Hyderabad, were carved out to form a new state of Telangana.

The chief minister of the new, truncated state of Andhra Pradesh, Chandrababu Naidu, who was earlier credited with creating ‘Cyberabad’, is now on a mission to build Vizag into a tech hub. One of the initiatives is the creation of Vizag’s Fintech Valley, where startups, investors, and financial institutions can collaborate with the government’s regulatory support.

The new state of Andhra Pradesh is also a startup.

The Andhra Pradesh chief minister’s special advisor for tech, J A Chowdary, gave a glimpse of the road ahead at a meeting with fintech players on the sidelines of the Fintegrate conclave in India’s financial capital of Mumbai last week. “The new state of Andhra Pradesh is also a startup,” he told them.

One of the initiatives to attract innovators is a million-dollar prize for any fintech startup in the world that wins an annual challenge. The road shows for this year’s competition will go to three Indian cities as well as global fintech cities like Singapore, Hong Kong, and London. The demo day for the finalists, and the award for the winner, will be in Vizag in October.

The state government has also allocated US$75 million for a fintech fund, and is looking for corporate and institutional partners to expand it as well as help with its deployment. The plan is to have a fintech accelerator in Vizag, which will serve as a gateway for startups to become eligible for the fund.

In an informal chat with Tech in Asia at the Mumbai event, Chowdary made no secret of his hope that recent protectionist moves and visa curbs in the West would prompt Indian techies to return home – provided India can create a conducive environment for them to work, innovate, and do business.
Chowdary said the Andhra Pradesh government as well as banks and insurance companies in the state are developing a “use case library” for fintech startups to target. One idea is to launch “AP bitcoins” for transactions like property registrations.

The government has also signed MoUs with five global companies to set up academies in fintech domains like analytics, security, and blockchain. The MoU with Marvelstone to set up Lattice80 in Vizag’s Fintech Valley is a continuation of this build-up.

With Singapore as our base, we hope to reach out to new markets for fintech startups.

“In November last year, we set up Lattice80 in Singapore to support the government’s smart nation vision. Now, we are happy to be part of the new Vizag-MAS (Monetary Authority of Singapore) partnership to support Fintech Valley Vizag. The goal is to bring together industry, academia, and investors to build the fintech ecosystem,” says Marvelstone Group CEO Gina Heng on the MoU with the government of Andhra Pradesh.

As part of the agreement, Lattice80 will train 1,000 professionals in India every year in key new technologies such as mobile payments, blockchain, and big data. The Vizag center is expected to open in the third quarter of this year.

See: 45 hot software product startups from India and their cool ideas

“With Singapore as our base, we hope to reach out to new markets for fintech startups to develop and collaborate. We are very happy to start our overseas journey in Vizag Fintech Valley,” says Marvelstone Group managing partner Joel Ko.

Lattice80 objectives include helping fintech startups to grow, supporting corporates and financial institutions in adopting innovation, and bridging gaps between the private and public sectors.
https://www.techinasia.com/lattice80-expands-from-singapore-to-vizag-fintech-valley

Anything similar done for GIFT?