Indian Economy-News & Updates

[RISING SUN]

FPIs go short on India as global worries mount
Foreign investors' bullish derivatives bets on India are at the lowest levels of 2017 amid the ongoing risk off sentiment in emerging market sparked by the escalating tensions between the US and North Korea.
As the war of words between the two countries is showing no signs of ending, analysts feel foreign investors are likely to continue their selling spree in Indian markets, which may drag the Nifty down by another 150-200 points.
“FIIs have taken bearish bets on in index futures worth `1,408 crore on Friday . With this, FIIs have cumulatively shorted more than 1 lakh contracts in index futures in the August series,“ said Jay Kumar Purohit, technical and derivative analyst at CentrumBSE 1.54 % Broking.

http://economictimes.indiatimes.com...rries-mount/articleshow/60052875.cms?from=mdr

 

[RISING SUN]

India puts curbs on pigeon peas import to support local prices
India has put a cap on imports of pigeon peas at 200,000 tonnes, the government said in a notification on Saturday, as the price of the lentil plunged more than 60 percent due to record production.

The restriction will help support local prices of pigeon peas in the world's biggest importer of the lentils, but will put pressure on producers such as Myanmar, Tanzania, Mozambique and Malawi which rely on exports to India.

In the fiscal year running from April to March traders can import no more than 200,000 tonnes, the government said.

India had imported 703,540 tonnes pigeon peas, also known as arhar or tur locally, in 2016/17 fiscal year ended on March 31.

"After the bumper production, restriction on the imports was necessary to support local prices. The government should now allow export of lentils as well," said Pravin Dongre, chairman of the India Pulses and Grains Association.

India's pigeon peas production jumped 80 percent to 4.6 million tonnes in 2016/17.

"In the current fiscal year traders have so far imported more than 160,000 tonnes of pigeon peas. In August 40,000 tonnes is likely to land in the country. So there is no scope for new import contracts," said a Mumbai-based importer who declined to be identified. (Reporting by Rajendra Jadhav; editing by Jason Neely)
http://timesofindia.indiatimes.com/...ocal-prices/articleshow/59932183.cms?from=mdr

 

[RISING SUN]

India biggest production hub: Honda
Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI), the Indian subsidiary of Japanese automotive major Honda, on Wednesday said India had become the company’s biggest production hub for its two-wheelers worldwide with an annual production capacity of 64 lakh units from its four plants. Honda also inaugurated its fourth assembly line at its third two-wheeler plant at Narsapura, near Bengaluru.

According to the company, the fourth line has an annual capacity of 6 lakh units making the Karnataka plant as Honda’s biggest manufacturing plant worldwide with 24 lakhs units annual production capacity.

Presently, HMSI has four manufacturing plants in India including Vithalpur in Gujarat and Narsapura in Karnataka.

“Honda’s two-wheeler business spans more than 120 countries worldwide and India is leading the demand. In 2016-17, India alone contributed 28% to Honda’s global two-wheeler sales and became the number one contributor to Honda’s two-wheeler business,” stated Shinji Aoyama, Chief Officer, Regional Operations (Asia & Oceania), Honda Motor Company in a press release.

According to HMSI in the first quarter of FY18 Honda alone contributed 68% to the industry’s new volumes resulting in 3% market share gain to ever highest of 30%.

The company commissioned its first line of the manufacturing unit in 2013 at Narsapura has so far invested about ₹ 2,600 crore and employs about 7,000 people.

Apart from the direct investments Honda has created an ecosystem of 26 new suppliers in the State and have created 15,000 additional employment opportunities at their plants.

“In the long-term, Honda two-wheelers India’s steady and strategic investments will power our dreams to make India the Export hub worldwide,” said Minoru Kato – president & CEO, Honda Motorcycle & Scooter India Pvt. Ltd.
http://www.thehindu.com/business/Economy/india-biggest-production-hub-honda/article19409974.ece

 

[RISING SUN]

Indian Railways' Wi-Fi video entertainment plan for passengers gathers steam
You could soon have video entertainment on trains to see you through long journeys. Video content providers such as Viacom18, Zee, Hungama and Shemaroo are keen to bid for the rights to provide video content on 3,000 trains through wireless intranet.

The Indian Railways, under its non-fare revenue cell, has drawn up the plan to provide video content, including movies in all major Indian languages on all its passenger trains.

Under the plan, passengers will be able to watch the content on their phones by logging on to the railways’ local wi-fi network onboard
IT organization of the future
According to the railways, the companies have evinced interest during the pre-bid conferences and will participate in bidding next month as well.

The number of trains will be divided into two equal packages and the bidding will happen in a phase-wise manner. The deal is likely to fetch the railways nearly Rs 500 crore annually in non-fare revenue.

“Almost 24 such companies have come forward. We will be charging an annual license fee from the successful bidder,” a top railway official said.

The contract will be awarded for a period of five years. The official said since uninterrupted internet facility cannot be provided on trains due to technological challenges and high cost, the plan to disseminate content through local wi-fi in all coaches will work well.

“Earlier, we were expecting over Rs 1,000 crore annually from this segment. But after consultation with stakeholders, it was felt that the market was still not ripe. However, we will easily be able to get Rs 500 crore without even spending a penny as the successful bidder will provide the technology and the equipment,” the official added.

A distribution box will be installed in the coaches, which will be updated regularly. Passengers will be able to consume content on their own devices.

The content-on-demand project falls under the railways’ plan to boost non-fare revenue by selling advertising spaces inside and outside trains and railway stations, and branding rights for stations and trains, besides leasing out spaces for ATMs and shops.

The railways sees Rs 18,000-crore revenue potential for these initiatives annually. In the recently released volume two of the Economic Survey 2016-17, it has been suggested that the railways should focus on such initiatives to boost revenue.

Railway minister Suresh Prabhu has set the target to earn 10% of total rail revenue from such sources so that reliance on freight and passenger fares can be reduced.

Currently, the railways earn only 3% of its total revenue from non-fare sources as against the 15-20% average for railways in developed countries.
http://tech.economictimes.indiatime...nt-plan-for-passengers-gathers-steam/60053111

Railway minister Suresh Prabhu launches Antyodaya, Humsafar Express via video
Railways minister Suresh Prabhu on Sunday inaugurated Antyodaya Express and Humsafar Express at Bandra Terminus here via video conferencing.

While Antyodaya Express is a fully unreserved service, Humsafar Express is touted as an affordable luxury train by the Railways.

“These express trains and host of other services for Mumbai suburban stations were launched by the railways minister through video conferencing,” a Western Railway release said.

While Antyodaya Express will run between Bandra (T) and Gorakhpur stations, Humsafar Express between Bandra (T) and Patna.

“Antyodaya Express will leave Bandra terminus every Sunday at 5:10am and will reach Gorakhpur at 5:35pm the next day. It will leave Gorakhpur every Tuesday at 3:15am and reach Bandra (T) at 4.15pm the next day,” it said.

Humsafar Express is fully air-conditioned train fitted with a GPS-based passenger information display system.

“It also has a passenger announcement system, a fire and smoke detection and suppression system, CCTVs, comfortable seats, mobile and laptop charging points. It also has integrated Braille display,” the release said.

This is the second Humsafar service to become operational on the Western Railway.

“The first such train was launched recently between Ahmedabad and Chennai,” it said.

The train will depart from Bandra (T) every Sunday at 12.55pm and will reach Patna at 10.15pm the next day.

“Similarly, the train will leave Patna at 11.10pm every Tuesday and will reach Bandra (T) at 7.35pm on Thursday,” as per the release.

The regular services of both the trains from Bandra will commence from August 20.

Prabhu also inaugurated a lift facility at suburban Borivali station to facilitate the movement of specially-abled and senior citizens. He also inaugurated the wi-fi facility at suburban Vasai Road and Virar stations.
http://www.hindustantimes.com/india...s-via-video/story-BJvIIOO2SgrwV6VgZO6OBJ.html

 

[ashok321]

 

[RISING SUN]

July data shows minor ripples as India’s biggest reform sets sail
Manufacturing took a hit in July, due largely to the rollout of GST at the beginning of the month, plummeting to its lowest in more than eight years. Also, sales of durables slumped, taking the industry by surprise. On the other hand, car sales grew at near-record levels.

The Monetary Policy Committee will take on board all this and other data ahead of what’s widely expected to result in a decision on Wednesday to cut interest rates, according to an ET poll.

The Nikkei India Manufacturing Purchasing Manager’s Index ( PMI) slowed to 47.9 in July, its lowest since February 2009, compared with 50.9 in June. A reading above 50 indicates expansion. New orders and output fell the steepest in more than eight years.

“Manufacturing growth in India came to a halt in July, with the PMI down to its lowest mark in almost eight-and-a-half years amid widespread reports that the sector has been adversely affected by the implementation of GST,” said Pollyanna De Lima, economist at IHS Markit and author of the report.

To be sure, most of those surveyed for the PMI data expect a quick rebound from GST-related disruption and the level of confidence was at an 11-month high.

Primary sales of refrigerators, washing machines and televisions from companies to distributors and retailers fell as much as 25% from the same month last year as it took almost 10 days to make billing systems compliant with GST. The industry was left with no inventory until then as production halted toward June-end for the transition.

This was in stark contrast with the widespread expectation that primary sales of white goods would pick up significantly in July since retailers had stopped buying from end-May to clear out old stock and had run discounts throughout June and exhausted inventory. Blowout sales in June expectedly led to a 40-45% drop in retail sales in July, three senior industry executives said.

“July in itself is a dull month for the industry. While we did expect brisk primary sales, the GST transition took time to be settled, which led to 20-25% dip in primary sales.

Production too resumed after the system became GST compliant. The sales situation, however, is improving week by week,” said Videocon chief operating officer CM Singh. White goods companies, however, expect a resurgence as the festive season kicks off later this month.

Passenger vehicle sales are estimated to have registered record growth last month with manufacturers resuming supplies to dealerships and stocking up ahead of the festive season.

Initial estimates suggest wholesale volumes last month have accelerated and are close to the highest ever industry volumes of 295,403 units recorded in March 2012. Automakers in India report wholesale volumes — despatches to dealers — and not retail numbers sold to customers.

Industry volumes were buoyed by Maruti Suzuki, which reported the highest-ever monthly despatches at 153,298 units, almost 10-15% of average monthly sales seen in recently times. The company’s wholesale volume grew 21.9% from 125,764 units in the year earlier.

Both new orders and output decreased for the first time since the demonetisation-related downturn recorded in December last year.

Citing anecdotal evidence, the survey showed that the launch of goods and services tax hampered demand due to which companies adjusted production lower in July.
http://m.economictimes.com/news/eco...est-reform-sets-sail/articleshow/59871246.cms

July data shows minor ripples as India’s biggest reform sets sail
Manufacturing took a hit in July, due largely to the rollout of GST at the beginning of the month, plummeting to its lowest in more than eight years. Also, sales of durables slumped, taking the industry by surprise. On the other hand, car sales grew at near-record levels.

The Monetary Policy Committee will take on board all this and other data ahead of what’s widely expected to result in a decision on Wednesday to cut interest rates, according to an ET poll.

The Nikkei India Manufacturing Purchasing Manager’s Index ( PMI) slowed to 47.9 in July, its lowest since February 2009, compared with 50.9 in June. A reading above 50 indicates expansion. New orders and output fell the steepest in more than eight years.

“Manufacturing growth in India came to a halt in July, with the PMI down to its lowest mark in almost eight-and-a-half years amid widespread reports that the sector has been adversely affected by the implementation of GST,” said Pollyanna De Lima, economist at IHS Markit and author of the report.

To be sure, most of those surveyed for the PMI data expect a quick rebound from GST-related disruption and the level of confidence was at an 11-month high.

Primary sales of refrigerators, washing machines and televisions from companies to distributors and retailers fell as much as 25% from the same month last year as it took almost 10 days to make billing systems compliant with GST. The industry was left with no inventory until then as production halted toward June-end for the transition.

This was in stark contrast with the widespread expectation that primary sales of white goods would pick up significantly in July since retailers had stopped buying from end-May to clear out old stock and had run discounts throughout June and exhausted inventory. Blowout sales in June expectedly led to a 40-45% drop in retail sales in July, three senior industry executives said.

“July in itself is a dull month for the industry. While we did expect brisk primary sales, the GST transition took time to be settled, which led to 20-25% dip in primary sales.

Production too resumed after the system became GST compliant. The sales situation, however, is improving week by week,” said Videocon chief operating officer CM Singh. White goods companies, however, expect a resurgence as the festive season kicks off later this month.

Passenger vehicle sales are estimated to have registered record growth last month with manufacturers resuming supplies to dealerships and stocking up ahead of the festive season.

Initial estimates suggest wholesale volumes last month have accelerated and are close to the highest ever industry volumes of 295,403 units recorded in March 2012. Automakers in India report wholesale volumes — despatches to dealers — and not retail numbers sold to customers.

Industry volumes were buoyed by Maruti Suzuki, which reported the highest-ever monthly despatches at 153,298 units, almost 10-15% of average monthly sales seen in recently times. The company’s wholesale volume grew 21.9% from 125,764 units in the year earlier.

Both new orders and output decreased for the first time since the demonetisation-related downturn recorded in December last year.

Citing anecdotal evidence, the survey showed that the launch of goods and services tax hampered demand due to which companies adjusted production lower in July.
http://m.economictimes.com/news/eco...est-reform-sets-sail/articleshow/59871246.cms

 

[RISING SUN]

In India’s most overflowing trains, Bihar-Delhi-Bihar is Track No. 1
Ten years ago, around 280 crore people used the Railways to travel an average of 229 km per year over long distances across cities. Last year, around 360 crore non-suburban passengers took trains to travel an average of 273 km per person.

But the real story of change lies between those numbers — of new routes mirroring new life choices, of how travel evolved over the last decade from track to runway.

Consider what records obtained by The Indian Express, of the top 10 trains in terms of passenger demand, show:
* In 2008-09, there were four trains running on established domestic migration routes: two linking Mumbai to UP, one connecting Delhi with Bihar, and one taking passengers from Mumbai to Kolkata via Chhattisgarh and Jharkhand. In 2016-17, there were eight trains plying on such routes: five linking Bihar to Delhi, including two return trains, one connecting Mumbai with UP, one from Mumbai to Kolkata and one linking Jharkhand to Kerala, which has emerged as a preferred destination for workers from the east.

* In 2008-09, two trains that featured on the top 10 linked Delhi to Bengaluru and Goa, respectively. By 2016-17, both had fallen off the list, even as air connectivity from Delhi to these cities — one a software hub, the other a tourist hotspot — have surged.

Railway Board chairman A K Mital agrees that passenger pattern on the rail network is broadly in sync with economic and industrial activity. “That is why trains linking Bihar to Punjab remain popular as they have traditionally catered to the movement of agriculture labour. Similarly, trains linking eastern Indian states with Kerala and other southern states have emerged as popular sectors,” says Mital.

According to a 2013 Unesco study, Social Inclusion of Internal Migrants in India, there are “conspicuous migration corridors within the country: Bihar to National Capital Region, Bihar to Haryana and Punjab, Uttar Pradesh to Maharashtra, Odisha to Gujarat, Odisha to Andhra Pradesh and Rajasthan to Gujarat”.

In this context, a typical example is the Sampark Kranti Express from Darbhanga in Bihar to Delhi via Lucknow, Gorakhpur and Patna, which has zoomed to the top (see box) from ninth position 10 years ago.

Records show that in 2008-09, the 24-coach train carried 5.74 lakh passengers a year. Today, it carries at least a lakh more with its average waiting list per day swelling from 357 to 564. So popular is this sector and this train that the pair, which runs to and from Delhi, occupy the first and the second spot in terms of waiting lists.

Then, there’s the Kerala connection.

In 2013, researcher M P Joseph found that 75 per cent of migrant workers in Kerala come from West Bengal, Bihar, Assam, Uttar Pradesh and Odisha. And that’s possibly why a train connecting Dhanbad in Jharkhand to Alappuzha in Kerala, covering 2,546 km over 57 hours with close to 100 halts, figures on the list of trains with the most passenger demand.

“This sector was not so prime a decade ago. A new product Antodaya Express with all unreserved coaches, between Howrah and Ernakulam, was launched recently keeping this movement in mind,” says Mital, who heads the Railway Board.

Read the story in Malayalam

Over a decade ago, Goa Express, an ordinary superfast train linking Delhi to Goa was one of the 10 most popular, carrying 6.6 lakh passengers in a year with a 141 per cent occupancy rate. In 2017, it doesn’t figure on the list. It’s the same story for the once-popular Karnataka Express between Bengaluru and Delhi.

“Some sectors that were in heavy demand earlier are now equally served by airlines. That’s a major shift,” says S S Khurana, former chairman, Railway Board.

Other popular trains, such as Katihar-Amritsar Express, have only reinforced the perception that large-scale inter-city migration is here to stay — and that the Railways remains the primary transporter for this segment.

And yet, one train that has stood the test of time is the Mumbai-Howrah Gitanjali Express. Started in 1977 by the then Railway Minister Madhu Dandavate, it completes the 1,971-km journey in 31 hours with 26 halts at a leisurely average speed of 65 km per hour.

But with an occupancy level of 161 per cent against berth potential and an average waiting list per day of 490, this train has actually climbed a notch over the decade to reach number four in 2017. And this, when domestic airlines carry over 8.54 lakh passengers per year on this sector — one way.
http://indianexpress.com/article/in...ains-bihar-delhi-bihar-is-track-no-1-4774786/

 

[Hindustani78]

Ministry of Railways
16-August, 2017 18:06 IST
Minister of Railways Shri Suresh Prabhakar Prabhu Inaugurated/ Launched Various Services/ Facilities/Initiatives

In order to make the rail journey more comfortable and remarkable, Indian Railways has been launching various services and projects. In this direction, Minister of Railways Shri Suresh Prabhakar Prabhu in a programme held today at Rail Bhawan, through video-conferencing launched and dedicated following services to the nation : -


1. Laying of foundation stone for Gaya Byepass (At Gaya, Bihar).

2. Dedication to the Nation- Electrification of Bakhtiarpur-Rajgir Section (at Bakhtiarpur, Bihar).

3. Dedication to the Nation- Electrification of Meralgram-Renukut Section (at Renukut, Jharkhand & UP).

4. Inauguration of following facilities at Bihta Station(Bihar): -

a) Extension of Platforms Nos. 1 & 2 for accommodation of 24 coaches, extension of Platforms shed-4 nos.

b) Provision of benches-12 nos.

c) Provision of water booth-1 no.

d) Improvement of circulating area (south side).

5. Inauguration/Dedication of following facilities at Chhapra(Bihar):

a) Dedication to the Nation - ISS at Chhapra station.

b) Inauguration of works of escalators (02 nos) and

improvements to platforms of Chhapra station.

c) Laying of foundation stone for second entry gate of Chhapra station.

d) Inauguration of Water Vending Machines (02 nos.) at Chhapra.

e) Dedication to the Nation-Wi-fi at Chhapra station.

6. Dedication to the Nation-newly constructed Goods Sheds

and 6 lines station at Chhapra Gramin Station.

7. Dedication to the Nation - Green Corridor in Bhagalpur- Banka section (Bihar) of Malda Division.


Minister of State for Railways Shri Rajen Gohain was specially present to grace the occasion. Chairman, Railway Board, Shri A. K. Mital, other Railway Board Members, several other dignitaries and senior officials were among those present on the occasion.

Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said that the unfortunate floods in Bihar & Assam has caused distress. Indian Railways is extending all possible help to the victims. Inaugurations of various passenger amenities in different parts of Bihar will help the people of Bihar for comfortable journey experience.

SERVICES LAUNCHED : -

1) Laying of Foundation Stone for Gaya Bypass

Benefits:

● Provides Direct Connectivity from 3rd Line between Gaya & Manpur(for movement to Kiul) to Gaya Patna Line.

● Avoids Reversal at Gaya Station and will improve the movement of COAL,STEEL,CEMENT & FOOD GRAINS to Patna.


2) Electrification of Bakhtiarpur-Rajgir

Benefits

•Manpur – Tilaiya - Bakhtiyarpur is a missing link between two electrified corridors of Mughalsarai - Patna - Bakhtiyarpur –Sitarampur – Howrah (Delhi-Howrah main line) and Mughalsarai-Gaya-Dhanbad-Sitarampur-Howrah (Grand Chord).


•The proposed section is a shorter route for transportation of coal to National Thermal Power Corporation's Barh thermal power plant.


•Coal will be fed through this route from Tori-Shivpuri collieries of Central Collieries.

•Apart from Coal, this section also carries Fertilizers, Food Grains, Cement , Salt etc.

`•After electrification of entire section, there will be seamless flow of electric trains in this section as traction changes/detentions at Manpur and Bakhtiyarpur ends would be eliminated.

3) Electrification of Meralgram-Renukut section.

Benefits:

● Garwa Road-Chopan-Singrauli including Karaila Road-Shaktinagar single line section of East Central Railway covering 257 route kilometers passes through the states of Jharkhand and Uttar Pradesh.

● Electrification of Garwa Road-Chopan-Singrauli with a view to ultimately connect Eastern and Central parts of India seamlessly through Garwa Road – Chopan – Singrauli – Katni– Bina – Kota.

● The electrification of the mentioned route of ECR is necessary from strategic perspective for increase in traffic, operational flexibility and better utilization of assets in electrified section.

● Electrification of this route will also avoid traction change at Garwa Road.

4) Inauguration of Passenger Amenities at Bihta Station

● Extension of PF Sheds (4 Nos.).

● Benches (12 Nos.), Water Booth (1 No.).

● Improvement of Circulating Area (South Side).

● Extension of PF Nos. 1 & 2 for accommodation of 24 coaches.

5) Inauguration of Passenger amenities at Chhapra Station

● Foundation stone for second entry gate- Estimated cost for Second Entry Gate is Rs. 24.62 Crores.

● Wi Fi Facility at Chhapra Station- The facility for the visitors & rail users of Chhapra Railway Station is being provided by RailTel in partnership with Google with no cost to Railway for providing high speed state of the art world class internet experience to the commuters. The Railwire wi-fi service is currently available at 127 stations.

● The facility will offer high-speed broadband like experience to users Wi-Fi facility is being provided at A1 & A category Railway station.

● Provision of escalators and modification of platforms at Chhapra station.

● Chhapra station is an ‘A-1’ category station on Gorakhpur cantt. and Chhapra Katcheri section of Varanasi Division, NER.

● The estimated cost of provision of escalators at Chhapra station is Rs. 7277052/- each escalator (total Rs.7277052X2= Rs. 14554104/-).

6) Inauguration of New Goods Shed at Chhapra Gramin Station

● Chhapra Gramin is a crossing station having 6 running lines. 2 lines are electrified and rest are in progress.

● New goods shed opened from Feb. 16.

● Mainly I/W traffic of cement, fertilizer and food grain. Average 23 rakes per month.

● Good sheds has one full rake replacement capacity, pucca platform, adequate light arrangement and round the clock working.







*****

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu and the Minister of State for Railways, Shri Rajen Gohain inaugurating the New Passenger Initiatives in ECR, through Video Conferencing from Rail Bhawan, in New Delhi on August 16, 2017. The Member Traffic, Railway Board, Shri Mohd. Jamshed is also seen.

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu and the Minister of State for Railways, Shri Rajen Gohain inaugurating the New Passenger Initiatives in NER, through Video Conferencing from Rail Bhawan, in New Delhi on August 16, 2017. The Member Traffic, Railway Board, Shri Mohd. Jamshed is also seen.

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu addressing at the dedication / inauguration of the several Railway initiatives, through Video Conferencing from Rail Bhawan, in New Delhi on August 16, 2017. The Minister of State for Railways, Shri Rajen Gohain and the Member Traffic, Railway Board, Shri Mohd. Jamshed are also seen.

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu addressing at the dedication / inauguration of the several Railway initiatives, through Video Conferencing from Rail Bhawan, in New Delhi on August 16, 2017. The Minister of State for Railways, Shri Rajen Gohain, the Chairman, Railway Board, Shri A.K. Mital and the Member Traffic, Railway Board, Shri Mohd. Jamshed are also seen.

 

[lemurian]

http://timesofindia.indiatimes.com/...ign-tourist-arrivals/articleshow/60099022.cms

India sees over 15% growth in foreign tourist arrivals

India has registered a growth of over 15 per cent in foreign tourist arrivals+ from January to July this year, with many opting for e-visa facility+ , the tourism ministry said in a statement.

The highest number of tourists arrived from Bangladesh (20.12 per cent), followed by the US (16.26 per cent), the UK (10.88 per cent) and France (3.01 per cent), said the statement which was released on Wednesday.
Foreign Tourist Arrivals (FTAs) from January to July, 2017, were 56.74 lakh, recording a growth of 15.7 per cent as compared to 49.03 lakh in the corresponding period last year, it said.

A total of 7.88 lakh foreign tourists arrived in India in July, an increase of 7.4 per cent as compared to the same month last year, it said.

The ministry said foreign tourists, who arrived on e-visa, also substantially increased in July.

A total of 1.19 lakh tourists came on e-visa last month as compared to 0.68 lakh in July 2016, registering a growth of 73.3 per cent.

From January to July this year, a total of 8.36 lakh tourists arrived on e-visa as compared to 5.40 lakh during the corresponding period last year, recording a growth of 54.7 per cent, the statement said.

The UK's share was highest among the tourists availing e-visa facility at 12.9 per cent, followed by the US (12 per cent), the UAE (7.2 per cent), France (6.4 per cent), Oman (6.1 per cent) and China (5.4 per cent).

 

[Hindustani78]

Ministry of Railways
17-August, 2017 18:33 IST
Minister of Railways Shri Suresh Prabhakar Prabhu Inaugurates/ Dedicates Various Initiatives mostly in Jharkhand

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

1. Commencement of work of Ranchi Road-Patratu doubling (at Patratu).

2. Laying of foundation stone for ROR flyover at Garhwa Road (at Garhwa Road).

3. Commencement of work of Ranchi-Bondamunda doubling (at Hatia Station).

4. Laying of foundation stone for Adityapur-Khargapur- 3rd line (at Tatanagar Station) (RVNL Project).

5. Dedication to the Nation - Gamharia-Adityapur Section of Sini-Adityapur 3rd Line Project (at Tatanagar Station)

6. Commencement of work of Chakradharpur-Goelkera 3rd line (at Chakradharpur Station).

7. Dedication to the Nation - Green Corridor-Madhupur-Giridih section of Asansol Division.


Minister of State for Civil Aviation Shri Jayant Sinha was specially present to grace the occasion. Member Engineering, Railway Board, Shri Aditya Kumar Mittal, other Railway Board Members and senior officials were also present on the occasion.


Speaking on the occasion Minister of Railways Shri Suresh Prabhakar Prabhu said that Jharkhand did not witness the progress due to lack of Rail Infrastructure. In order to improve Railway Infrastructure in Jharkhand, the fund allocation in the budget has been raised significantly to execute the Rail projects in the state & speedy commissioning of projects. Jharkhand State Government & Ministry of Railways has formed the joint venture to implement the projects. State JVs play an important role in cooperative federalism.






Salient Features of Projects

1. Commencement of work for Ranchi Road-Patratu Doubling

Benefits:

To facilitate faster transportation of minerals & shorter route for coal belt of Jharkhand to the Northern and Western part of India.

2. Laying of foundation stone of ROR flyover at Garhwa Road

Benefits:

Garhwa Road station will practically become run through station and able to take more train easing congestion.

3. Commencement of work of Ranchi-Bondamunda doubling (at Hatia Station).

Benefits:

Hatia- Bondamunda is a part of the Rourkela-Gomoh route via Ranchi-Muri. This is presently a single line.

The section is extremely busy for movement of raw materials as well as finished steel to and from Bokaro and Rourkela steel plant.

Due to ever growing industrial as well as passenger traffic demands, the capacity enhancement of this route has become essential

4. Laying of foundation stone for Adityapur-Khargapur- 3rd line (at Tatanagar Station) (RVNL Project).

Benefits:

Kharagpur- Adityapur is a part of the Howrah-Mumbai trunk route. This section is extremely busy for movement of raw materials and finished products of the core industries.

Other important traffic includes traffic to and from Haldia port including imported coal for the steel plant and through traffic like food grains fertilizers from various parts of India. The massive steel plant of TISCO is situated at Tatanagar.

To cater for the ever growing transportation needs of this area, the third line project has been sanctioned.

5. Dedication to the Nation - Gamharia-Adityapur Section of Sini-Adityapur 3rd Line Project (at Tatanagar Station).

Benefits:

To handle the increased Passenger and Freight traffic of Tatanagar – Chakradharpur section, the third line between Sini – Adityapur has been sanctioned.

Sini-Gamharia (16 Km) : Commissioned on 19.07.16.

Now, Gamharia–Adityapur (6.5 Km) is being dedicated to Nation.

With commissioning of this 6.5 km 3rd Line, Entire project has been commissioned.


6. Commencement of work of Chakradharpur-Goelkera 3rd line (at Chakradharpur Station).

Benefits:

This section is a part of Howrah-Mumbai trunk route.

There was a need to increase the sectional capacity on this stretch as a number of plants & projects are coming up along the route. This route is the feeder route for the Steel, Power, Cement plants and connects them to the mines and the important ports of the country.

The line capacity utilisation has already crossed 100% Hence, the section of third line on the stretch of 34 Km is essential.

7. Dedication to the Nation - Green Corridor-Madhupur-Giridih section of Asansol Division.

Benefits of Bio-toilets:

Freedom from human waste falling on tracks.

Better hygiene & cleanliness of coaches & tracks.



*****

 

[Soumitra]

The highest number of tourists arrived from Bangladesh (20.12 per cent),

this part is worrying. Hope these people do not come with a one way ticket

 

[RISING SUN]

Delhi to Amritsar bullet train via Chandigarh in just 2 hours at 300 km/hr!
Traveling at a speed of 300 km/hour, an Indian Railways bullet train will take you from Delhi to Amritsar via Chandigarh in the coming years. The bullet train would complete the 458-km long train journey in 2 hours and 3 minutes, a senior Railway official told Financial Express Online. The bullet train will also stop at Panipat, Ambala, Chandigarh and Ludhiana. Presently, the Delhi to Amritsar Shatabdi Express train takes around 6 hours. In effect your train travel time from Delhi to the Golden Temple town would come down to one-third!

The feasibility study for the corridor, the details of which were shared with FE Online, has been done by France’s Systra. “The feasibility study report of high-speed rail corridor between Delhi-Chandigarh-Amritsar has been submitted to the Ministry of Railways in 2016. The report has been accepted by the Ministry of Railways and is currently under consideration,” the official said.

The distance between Delhi to Chandigarh – 258 kms – will be covered in 1 hour and 12 minutes. A base fare of Rs 4.5 per kilometre has been recommended at the 2015 price level, the official said. This means that for the Delhi-Amritsar trip, you will have to shell out a minimum of Rs 2061 (4.5*458). On the other hand, for the Delhi-Chandigarh journey, you will have to spend a minimum of Rs 1161. The minimum Delhi-Amritsar Shatabdi fare is Rs 890, while the Delhi-Chandigarh Shatabdi fare is approximately Rs 650. A random check on online portals by FE Online shows that a Delhi-Amritsar flight takes over an hour at an average of just over Rs 2,000. The Delhi to Chandigarh flight takes similar time with fares around Rs 2,000.

The total project cost at a 2015 price level has been estimated at Rs 61,412 crore. The project should take anywhere between 6 to 8 years to complete. The study expects the bullet train to start operations by 2025. However, the Ministry of Railways will take a final call on the implementation of the project and its finer aspects once the studies for all other high-speed rail corridors are completed.

The Ministry of Railways has set up High Speed Rail Corporation of India (HSRC) to deal with all the proposed high-speed rail corridors, apart from the Mumbai-Ahmedabad bullet train. The project for India’s first bullet train between Mumbai and Ahmedabad comes under the National High-Speed Rail Corporation. The other proposed high-speed rail corridors are; Delhi-Mumbai, Mumbai-Chennai, Delhi-Kolkata, Delhi-Nagpur-Chennai, Mumbai-Nagpur, Chennai-Bengaluru-Mysore.
http://www.financialexpress.com/ind...h-route-fare-shatabdi-indian-railways/810910/

 

[RISING SUN]

India’s weight in MSCI EM index to rise in coming years: Morgan
India’s weight in the MSCI Emerging market index is expected to rise in the coming years and the equity market will attract more foreign fund inflows going ahead, says a Morgan Stanley report.

While India ranks among the top three in the emerging market basket in terms of GDP, it barely makes it into the top 15 in terms of index weight.

“We are arguing that as India gains GDP versus the rest of the world, its index weight will rise,” Morgan Stanley Investment Management said in a research note.

“As India index weight rises, it will probably attract more non-long-term money, or what we can loosely call ‘tourist flows’,” the report authored by Ridham Desai and Sheela Rathi said.

According to the report, part of this underrepresentation problem is India’s smaller free float —— the portion of equity which is in the hands of public shareholders.

“The gap between index weight and GDP rank is likely to keep closing, while India’s GDP weight is also gaining share.

Indeed, India’s foreign free float should also rise as new securities get listed and enter the index,” the report added.

According to Morgan Stanley domestic institutions are likely to get bigger in size.

“In our view, India is entering an equity saving ascent that is both cyclical and structural, as households shift out of physical assets and toward financial assets,” it said.

Morgan Stanley expects equity saving to equate to 1.4 per cent of GDP by financial year 2026 (double from the current 0.7 per cent), “implying a cumulative equity saving expansion of USD 420 billion over the next decade“.

According to Morgan Stanley, there will a significant shift towards accumulating savings in financial assets, especially in equities.

http://www.thehindu.com/business/Ec...se-in-coming-years-morgan/article19508091.ece

Green housing boost: €112-million SUNREF India Programme launched
The National Housing Bank (NHB) has joined hands with the French Development Agency (FDA) and the European Union to launch the SUNREF Housing India programme as part of efforts aimed at scaling up green housing projects in India.

SUNREF (Sustainable Use of Natural Resources and Energy Finance) Housing India will provide financing of €112 million to NHB, through a credit line of €100 million with AFD and a grant of €12 million financed by the European Union. The credit facility and grant agreements were signed with the NHB in July 2017.

The three partners on Thursday presented the details of the SUNREF Housing India Programme to housing sector stakeholders in the presence of Alexandra Ziegler, Ambassador of France to India, and Tomasz Kozlowski, Ambassador of the European Union to India.

Speaking on the occasion, Sriram Kalyanaraman, Managing Director & Chief Executive Officer, NHB, said “green housing” is an idea whose time has come. This is not the first time that NHB is availing overseas funds to promote green housing in the country. Five years ago, NHB had tied up with Germany’s KfW for €50-million funding.

Kalyanaraman said NHB would, through the SUNREF programme, provide funding to the green housing sector — home buyer and developers — via banks and housing finance corporations.

The €100-million credit line will be available for a three-year time-period that began from July 2017. NHB hopes to do the disbursal between mid-2018 and 2020.

In the background of the growth of the Indian housing sector where 70 per cent of the dwelling units are to be built from now till 2030, the SUNREF project aims to reduce the negative impact on environment. It seeks to encourage the development of green residential buildings that demonstrate more efficiency in energy, water and building material use.
http://m.thehindubusinessline.com/n...f-india-programme-launched/article9821644.ece

India is quietly preparing to end Chinese businesses' free run here
http://economictimes.indiatimes.com...ee-run-here/articleshow/60105497.cms?from=mdr

India Inc records highest sales growth in five quarters of 5.6% year-on-year
India Inc reported a revival in year-on-year sales growth in the June quarter albeit amid pressure on profits and profitability. The trend is expected to continue since the next two quarters will reflect gradual stability in business after the implementation of the goods and services tax (GST) on July 1 and expected higher demand due to the festival season and a good monsoon.
http://economictimes.indiatimes.com...ear-on-year/articleshow/60050223.cms?from=mdr

 

[Nilgiri]

this part is worrying. Hope these people do not come with a one way ticket

Vast majority are not overstaying, otherwise the visa policy would have been stopped 2 years back itself when exit-data came in.

Vast majority of illegals are the poor folk that transited when the border policy was horrible in 80s and 90s and early 2000s (as bad as it still is in many parts).

 

[RISING SUN]

Chennai-Madurai railway line doubling and electrification by December
Doubling with electrification of Chennai-Madurai railway line running to about 497 km will be completed by this year since the balance 25 km is scheduled for completion by December 2017, southern railway general manager Vashishta Johri told railway staff after unfurling the tricolour at the Independence Day function held at Ayanavaram RPF grounds here on Tuesday. Doubling between Ponmalai and Thanjavur (47 km), Changanasseri and Chingavanam (9.5 km) is also targeted for completion during this year and this will benefit the public and the railway operations, the GM said. On the passenger front, Southern Railway has carried 1.9 per cent more passengers than last year with a consequent increase of 4.9 per cent in passenger earnings. On the freight side, the earnings are nearly at the same level as last year, although we loaded about 2.5 MT less than last year, due to changes in pattern in the movement of coal rakes and the surge in electricity generation through alternate means. With the increase in ordinary working expenses to Rs 3018 crore the railway operating ratio has become 165.8 percent till July 2017. Based on the instructions from railway minister Suresh Prabhu, the southern railways have embarked on a journey of transformation as announced in the Budget. Under the budget announcements substantial improvements are planned in passenger safety, cleanliness, developmental works and financial performance, the GM added.

Naveen Gulati, divisional railway manager, Chennai division, and L. Sudhakar Rao, chief administrative officer, (Construction) southern railway also hoisted the national flag.
http://www.deccanchronicle.com/nati...doubling-and-electrification-by-december.html