Indian Economy-News & Updates

[Hindustani78]

Ministry of Finance
16-November, 2018 17:53 IST
Government of India and the Asian Development Bank (ADB) sign $300 Million Loan to support India Infrastructure Finance Company Limited (IIFCL)in India

The Asian Development Bank (ADB) and the Government of India signed here todayin national capital a $300 million Loan Agreement to support lending by India Infrastructure Finance Company Limited (IIFCL).

Speaking on the occasion, Mr. Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs, Ministry of Finance, who signed the loan agreement on behalf of Government of India said that the Project will enhance availability of long-term finance for PPP projects, improve operational capacity of IIFCL, and expand the portfolio of infrastructure financing instruments available to IIFCL. He further said that the loan is expected to compliment Government's infrastructure building efforts.

Mr. Kenichi Yokoyama, Country Director of ADB’s India Resident Mission who signed the agreement for ADB, said that ADB funding is expected to fund at least 13 sub-projects through IIFCL, involving roads and renewable power generation, under the last tranche.

The Project supports the renewed effort of the Government of India in accelerating infrastructure growth through increased Private Sector investment. The Project is relevant and responsive to the constraints to bank based infrastructure financing, fiscal space creation, and repercussions on GDP growth.

The $300 million ADB loan is expected to help catalyze the financial closing of $2.4 billion in investments. In addition, the attached technical assistance will support IIFCL capacity development and will focus on IIFCL’s financial management and social and environmental safeguards.


*****

 

[Hindustani78]

Ministry of Finance
16-November, 2018 17:54 IST
Government of India and the Asian Development Bank (ADB) Sign $105 Million Loan to Support Hydropower Transmission in Himachal Pradesh

The Asian Development Bank (ADB) and the Government of India today signed a $105 million loan to continue financing the transmission system upgrades in Himachal Pradesh for increased supply of hydropower to the state and the national grid.

The tranche 3 loan is part of the $350 million multi-tranche financing facility (MFF) for Himachal Pradesh Clean Energy Transmission Investment Program approved by the ADB Board in September 2011. The program is aimed at developing and expanding the transmission network to evacuate clean and renewable power generated from the State’s hydropower sources to load centers within and outside the State. It also supports the institutional capacity development of the state transmission utility, Himachal Pradesh Power Transmission Corporation Limited (HPPTCL), as the executing agency for this project.

The signatories to the loan agreement were Mr. Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs, Ministry of Finance, who signed on behalf of the Government of India; and Mr. Kenichi Yokoyama, Country Director of ADB’s India Resident Mission, who signed for ADB.

“This particular loan will help Government of Himachal Pradesh to benefit electricity consumers in the state and throughout northern India, by increasing the transmission system capacity for inflow of the hydropower generated in the state into India’s national grid,”said Mr. Khare after signing the loan agreement.

“This last tranche under the MFF will help sustain confidence among existing and potential hydropower developers about the availability of sufficient transmission capacity for evacuation of power from hydropower generation sources in Himachal Pradesh,” said Mr. Yokoyama.

The loan will have a 25-year term, including a grace period of 5 years, an annual interest rate determined in accordance with ADB’s lending facility based on the London interbank offered rate (LIBOR), and a commitment charge of 0.15% per year.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members—48 from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.





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DSM/RM/KA

 

[Hindustani78]

‘It is at a very nascent stage right now’
The Indian Railways is planning to establish medical colleges to offer Post Graduate courses for doctors at 10 of its existing hospitals across India.

“We are thinking of opening up medical colleges. The process is in a very nascent stage right now,” a senior Railways official said, adding that the national transporter has already identified 10 hospitals with 300 or more beds across India, where there courses will be taught.

The official said that the proposal has been cleared by the Railway Board and now, the Railways is in the process of getting permissions from the Medical Council of India (MCI).

“We are in discussions with the Medical Council of India as well as the Ministry of Health and Family Welfare… after getting approvals, we will figure out details on investments and the number of students, and form a roadmap as per their guidelines and processes,” the official said.

Additionally, the Railways will also sign a Memorandum of Understanding (MoU) will local colleges and universities.

Currently, a total of 125 Railways hospitals, with a capacity of about 40,000 beds, offer primary, secondary as well as tertiary healthcare services to about 65 lakh beneficiaries. These include current Railways employees, retired employees, and their families. These hospitals employ about 2,500 doctors and 40,000 paramedical staff.

The shortlisted hospitals include nine Central hospitals and one Divisional hospital, including the Northern Railways Central Hospitals, Eastern Railways Central Hospitals, Southern Railways Central Hospitals, North Eastern Railways Hospital, Western Railways Central Hospitals, and the Kharagpur Divisional Hospital.

The Railways official said that, to start with, the plan is to offer only Post Graduate courses for doctors. “We already teach over 250 students for Diplomate National Board Course in seven Central hospitals. These hospitals are part of the ten selected hospitals. We now plan to add PG (Post Graduate) facilities like a General MD (Doctor of Medicine),” the official added.

Earlier, the government-owned Coal India had proposed to establish medical as well as engineering colleges in mining areas. However, no progress was made on the proposal.

 

[Nilgiri]

@anant_s @Vergennes @AUSTERLITZ @MilSpec @gslv mk3

 

[Hindustani78]

The Minister of State for Culture (I/C) and Environment, Forest & Climate Change, Dr. Mahesh Sharma at the 16th National Steam Congress, organised by the Indian Steam Railway Society (ISRS), in New Delhi on November 17, 2018. The Minister of State for Railways, Shri Rajen Gohain, the Chairman, Railway Board, Shri Ashwani Lohani and other dignitaries are also seen.

The Minister of State for Culture (I/C) and Environment, Forest & Climate Change, Dr. Mahesh Sharma at the 16th National Steam Congress, organised by the Indian Steam Railway Society (ISRS), in New Delhi on November 17, 2018. The Minister of State for Railways, Shri Rajen Gohain, the Chairman, Railway Board, Shri Ashwani Lohani and other dignitaries are also seen.

The Minister of State for Culture (I/C) and Environment, Forest & Climate Change, Dr. Mahesh Sharma at the 16th National Steam Congress, organised by the Indian Steam Railway Society (ISRS), in New Delhi on November 17, 2018. The Minister of State for Railways, Shri Rajen Gohain, the Chairman, Railway Board, Shri Ashwani Lohani and other dignitaries are also seen.

The Minister of State for Culture (I/C) and Environment, Forest & Climate Change, Dr. Mahesh Sharma at the 16th National Steam Congress, organised by the Indian Steam Railway Society (ISRS), in New Delhi on November 17, 2018. The Minister of State for Railways, Shri Rajen Gohain, the Chairman, Railway Board, Shri Ashwani Lohani and other dignitaries are also seen.

The Minister of State for Culture (I/C) and Environment, Forest & Climate Change, Dr. Mahesh Sharma at the 16th National Steam Congress, organised by the Indian Steam Railway Society (ISRS), in New Delhi on November 17, 2018. The Minister of State for Railways, Shri Rajen Gohain is also seen.

The Minister of State for Culture (I/C) and Environment, Forest & Climate Change, Dr. Mahesh Sharma addressing at the 16th National Steam Congress, organised by the Indian Steam Railway Society (ISRS), in New Delhi on November 17, 2018.

 

[anant_s]

Indian Railway Locomotive Fleet

New Conversion of Locomotives from Diesel to Electric

New locomotives

WAG 12 (Alsthom)

Marhaura (GE, Diesel Electric locomotives)
WDG 4G & WDG 6

@gslv mk3 @Abingdonboy @Nilgiri @AndrewJin @Roybot

 

[kmc_chacko]

@anant_s @Vergennes @AUSTERLITZ @MilSpec @gslv mk3

T-18s first trail run has completed with small hiccups, RDSO certification is pending. they are a hell of a wall to cross.

 

[lemurian]

https://tech.economictimes.indiatim...w-has-more-rooms-in-china-than-india/66723710

OYO now has more rooms in China than India

OYO Hotels & Homes is growing faster in China than in its home market, as the hospitality chain backed by Japan's SoftBank accelerates the pace of expansion in the world's second-largest economy.

The Gurgaon-based company, which was valued at $5.5 billion after its last funding round in September, currently manages 180,000 rooms across 4,000 leased and franchised properties in China, chief executive Ritesh Agarwal told ET.

This marks a two-fold jump over the 87,000 rooms under management that it reported in September. In contrast, the six-year-old company manages 149,000 rooms in India and South Asia.

"India and China are our home markets... In just one year, we are now among the top-10 hotel chains in the latter. Our assets there have been seeing an average occupancy jump, ranging from 25% to 60%-70%, after the hotels lease or franchise the properties to us," Agarwal said.


OYO officially launched operations in China during November 2017 and is now present across 265 cities.

Experts who track the online commerce sector are of the view that OYO's rapid expansion in China marks a first for the Indian internet sector.

"It's probably the first successful Indian internet company that's gone to the lion's den, and scaled to this size," said Ankur Pahwa, national leader, e-commerce and consumer internet, EY, adding that "one must take into account the whole size and dynamics of that market, which is simply mind-boggling".

OYO's intense focus on China is underlined by the pace at which it is building a local leadership team, often by poaching a number of senior executives from some of the largest consumer technology companies.

The company has hired Wilson Li as chief financial officer for its operations in the country. Prior to joining OYO, Li used to be the finance and operations head at listed car rental major Car Inc.

Separately, it has also brought on board Google and Uber executive Jia Zou as its technology head and Tony Liang, formerly with Wanda, SF Express and Dianping, as its chief human resources officer.

Agarwal, however, declined to provide all the names, citing confidentiality, as some of the CXO-level hires are yet to be finalised.

"All these guys have the experience of operating with the wisdom and maturity of large valuable organisations, as well as the passion and energy of growing meaningfully fast," he said.

Earlier this month, the company named former IndiGo president Aditya Ghosh as its chief executive for India and South Asia. Agarwal has been elevated to the Group CEO position.

"They've (OYO) had a "distributed leadership" form of management that empowers a lot of folks, which is probably what's needed for the company, given its focus on China and expansion into other overseas markets. The businesses require top management to have their feet on the ground," EY's Pahwa said.

OYO China currently employs about 5,500 people in China as full-time employees, and a further 60,000 on a contractual basis.

"We have 600 supply chain partners and over 100 warehouses, which allows to keep our infrastructure availability very easy... Secondly, we can provide this quality of product at 20-30% lower price compared to the market," Agarwal said.

OYO's rapid growth has also come in a market regarded as notoriously difficult for international companies, including for some of the world's largest technology and consumer internet corporations like Google, Uber and Amazon.

According to Agarwal, close to 70% of its business in the country is through organic channels, which includes the OYO app and walk-ins, with certain digital platforms, such as Alibaba-backed Fliggy, Qunar and super app, Tencent-backed Meituan providing the rest of the traffic.

"We get close to 15-20% of our revenue from third-party distributors, which includes multiple online travel operators. We have a different partnership agreement with each one of them," the Group CEO said.

 

[lemurian]

https://www.thehindu.com/business/I...00-million-euros-in-india/article25547201.ece

Bosch to invest 100 million euros in India
Bosch Home Appliances will invest 100 million euros over the next four years into personalised solutions, brand building, strengthening its technology center, and setting up a robust refrigerator factory in India.

“With localised offerings in the household appliances area, Bosch is transforming itself into a hardware-plus company,” Soumitra Bhattacharya, Managing Director, Bosch Limited and president, Bosch Group, India said.

“Our business is in a process of profound transformation from a hardware focus to models that focus more on services and data. We have the capability to develop greenfield technology that can power industries in a new-age manner,” he said in a statement.

Bosch is developing solutions based on artificial intelligence, blockchain, sensors and other futuristic technologies to build sustainable ecosystems across industries for the future.

“Bangalore is one of the global innovation centers for AI solutions and transformations are being driven through Bosch’s “3S” strategy – where it uses sensors, software, and services. Bosch’s innovation accelerates this growth with robust distribution networks, India-specific innovations, consumer centricity, and lastly, by entering new market segments,” according to the statement.

 

[lemurian]

 

[Hindustani78]

Ministry of Civil Aviation
22-November, 2018 18:36 IST
Commissioner of Railway Safety, Northern Circle, Submits Preliminary Report on accident Unusual Occurrence of Human run over by Train No . 74643

Shri Shailesh Kumar Pathak, Commissioner of Railway Safety, Northern Circle , held a statutory inquiry into the accident Unusual Occurrence of human run over by train No. 74643 JUC-ASR DMU between Mananwala – Amritsar Jn. (MOW-ASR) on Jalandhar City-Amritsar Jn. (JUC-ASR) Broad Gauge Double Line Electrified section at Km 508/17-18 near LC No. S-27 in Firozpur Division of Northern Railway on 19.10.2018 at 18:55 hrs. As a result of the accident, 60 persons were killed, 35 persons were grievously injured and 31 persons sustained simple injuries.

According to the provisional findings of the Commissioner appended with his preliminary report, the accident occurred due to “Error in working by public near Railway line”. These findings are under the consideration of the Government.

( Note :- This Press Release is based on the information made available by the office of Commissioner of Railway Safety, Northern Circle, Ministry of Civil Aviation, Government of India)

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RJ/KGS

22-November, 2018 19:45 IST
Rs.3,015 crore order bagged by BEML for Mumbai Metro Corridor - Make in India” initiatives of MOHUA

BEML was the lowest among Seven Bidders which included 7 Internationally renowned Companies State-of-the-art, driverless trains to be manufactured indigenously by BEML.- supply of trains to begin from Oct 2020 & completed by Dec 2022. BEML bags Contract Purely on Its own Merit - One of the largest orders of Metro Rail Coaches in Recent Times 378 Metro Cars (63 Metro Trains of 6 Cars each) for Mumbai Metro Corridor 2a, 2b & 7 awarded to BEML

BEML, a public sector undertaking of the Government has bagged a contract for Rs.3,015 crore for Mumbai Metro Corridor. Ministry of Housing & Urban Affairs has contributed to this one of the biggest success stories under Make in India initiatives of the Government. The order includes manufacturing of 378 Metro cars (63 Metro trains of 6 cars each) for Mumbai Metro Corridor 2A, 2B & 7. BEML was the lowest among seven bidders which included 6 internationally renowned bidders. The state of art, driverless trains shall be manufactured indigenously by M/S BEML. Supply of trains will begin from October 2020 and completed by December 2022. BEML has earlier also supplied metro coaches in smaller numbers but along with an international player as a JV partner. It has now sub-contracted M/s Hitachi only for some designs. The coaches will be manufactured in the BEML factory at Bengaluru. Some of the salient features are:



Ø Total Trains: 63

Ø Coaches per Train: 6

Ø Fully Air Conditioned

Ø Driverless train compatibility

Ø Energy friendly with regenerative braking system. Train to operate on 25 KV AC traction.

Ø Equipped with CCTV surveillance for passenger security and real-time track monitoring.

Ø Carrying capacity of 300 passengers in each coach.

Ø Stainless steel body with 4 doors on each side.



Evolution of metro rail in India is indeed a breath-taking story. Today about 536 kms of metro lines are operational in 10 different cities namely, Delhi & NCR (317 km), Bangalore,Hyderabad, Kolkata, Chennai, Jaipur, Kochi, Lucknow, Mumbai and Gurugram. In addition, more than 650 kms of metro rail projects are under construction in Delhi & NCR, Mumbai, Kolkata, Bangalore, Chennai, Kochi, Jaipur, Hyderabad, Nagpur, Ahmedabad, Lucknow, Pune, Bhopal and Indore. Many more cities are also planning metro rail system.

The Ministry of Housing and Urban Affairs (MoHUA) has made concerted efforts for indigenisation of metro rail systems in the country. For this, it has standardized the specifications for metro rolling-stock, signalling, telecom, electrical and civil components. It has also adopted the Public Procurement Order, Make in India (PPO/MII) 2017, for metro rail systems. MoHUA has also stipulated that minimum 75% of the coaches procured against any tender have to be manufactured in India. Alstom, Bombardier, BEML, and Titagarh have setup manufacturing units in India. As a result of the “Make in India” initiatives, the last two big procurement orders for rolling stock in India, floated on international competitive bidding model, have gone to Indian companies. This has also resulted in substantial reduction in cost.

This is one of the largest orders of metro rail coaches in the recent times. BEML has bagged this contract purely on its own competence. The award price per coach which is less than Rs.8.00 Crs (including spares, design, installation, and commissioning) is record lowest in recent times. Seven International manufacturers of rolling stock viz. Alstom, Bombardier, CAF, CRRC, Titagarh, BEML, Hyundai Rotem, participated in the bid. The supply of coaches will start from end of 2020 and will be completed in about two years’ time. The project is being assisted by Asian Development Bank and the procurement has been done following their guidelines and concurrence.

Metro line 2A will connect Dahisar to DN Nagar in Mumbai. Metro line 2B will run further from DN Nagar to Mankhurd via Bandra, and Metro line 7 from Dahisar to Andheri (east).

***



RJ/KGS

 

[Hindustani78]

Ministry of Statistics & Programme Implementation
30-November, 2018 17:30 IST
Estimates of Gross Domestic Product for the Second Quarter (July-September) of 2018-19

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product(GDP)for thesecond quarter (July-September) Q2 of 2018-19, both at Constant(2011-12) and Current Prices, along with the corresponding quarterly estimates of expenditure components of the GDP.



2. The details of estimates of GDP for Q2 of 2018-19arepresented below:



I ESTIMATES OF GVA BY ECONOMIC ACTIVITY



(a) At Constant (2011-2012) Prices



3. GDP at Constant (2011-12) Prices in Q2 of 2018-19 is estimated at `33.98 lakh crore, as against `31.72lakh crore in Q2 of 2017-18, showing a growth rate of 7.1 percent. Quarterly GVA (Basic Price) at Constant (2011-2012) Prices for Q2 of 2018-19 is estimated at `31.40 lakh crore, as against `29.38lakh crore in Q2 of 2017-18, showing a growth rate of 6.9 percent over the corresponding quarter of previous year.



4. The Economic Activities which registered growth of over 7 percent in Q2 of 2018-19 over Q2 of 2017-18 are ‘Manufacturing, ‘Electricity, Gas, Water Supply & Other Utility Services’‘Construction’ and‘Public Administration, Defence and Other Services’. The growth in the ‘Agriculture, Forestry and Fishing’, ‘Mining and Quarrying’, ‘Trade, Hotels, Transport, Communication and Services related to Broadcasting’ and Financial, Real Estate and Professional Services is estimated to be 3.8 percent, (-) 2.4 percent, 6.8 percent, and 6.3 percent respectively during this period.



5. Industry Analysis

The second quarter estimates are based on Agricultural production during Kharif season of 2018-19obtained from theDepartment of Agriculture, Cooperation&Farmer Welfare (DAC& FW), abridged financial results of Listed Companies from BSE/NSE, Index of Industrial Production (IIP), monthly accounts of Union Government Expenditure maintained by Controller General of Accounts (CGA) and of State Government Expenditure maintained by Comptroller and Auditor General of India (CAG) for the period July-September2018-19. Performance of key sectors like Transport including Railways, Road, Air and Water Transport, etc., Communication, Banking and Insurance during the period July-September2018-19 have been taken into account while compiling the estimates. Performance of the Corporatesector during July-September2018based on data received from BSE/NSE hasbeen taken into account. With the introduction of Goods and Services Tax (GST) from 1st July 2017 and consequent changes in the Tax Structure, the total Tax Revenue used for GDP compilation includes non-GST Revenue and GST Revenue based on GSTR filings as provided by Central Board of Indirect Taxes and Customs, Ministry of Finance.Estimated growth in the indicator compiled on the basis of employee expenses, profit before tax and depreciation of Listed Companies deflated by appropriate price indices has been used to extrapolate the Corporatesector estimates of the same quarter of the previous year.

Agriculture, Forestry and Fishing

5.1 Quarterly GVA at Basic Prices for Q22018-19 from ‘Agriculture, Forestry and Fishing’ sector grew by 3.8 percent as compared to growth of 2.6percent in Q22017-18. According tothe information furnished by the Department of Agriculture, Cooperation&Farmer Welfare (DAC& FW), which has been used in compiling the estimate of GVA from agriculture in Q2 of 2018-19, the production of Food Grains during the Kharif season of agriculture year 2018-19 grew by0.6percent as compared to growth of 1.7percent during the same period in2017-18.Around 55percent of GVA of this sector is based on the Livestock products, Forestry and Fisheries, which registereda combined growth of about6.7percent in Q2 of 2018-19.



Mining and Quarrying

5.2.Quarterly GVA at Basic Prices for Q22018-19 from ‘Mining and Quarrying’ sector declined by2.4percent as compared to growth of 6.9percent in Q22017-18. The key indicators of Mining sector, namely, production of Coal, Crude Oil and Natural Gas and IIP Mining registered growth rates of6.2percent, (-) 4.4 percent,(-) 2.0 percent and 1.0 percent, during Q2 of2018-19 as compared to 8.5 percent, (-) 0.7 percent, 4.7 percent and 7.1 percentrespectively, during Q2 of 2017-18.

Manufacturing



5.3 Quarterly GVA at Basic Prices for Q22018-19 from ‘Manufacturing’ sector grew by 7.4percent as compared to growth of 7.1percent in Q22017-18. The Private Corporate sector growth (which has a share of over75 percent in the Manufacturing sector)was estimated from available data of listed companies with BSE and NSE. The Quasi -Corporate and Unorganized segment (which has a share of over20percent in the Manufacturing sector)has been estimated using IIP of Manufacturing. IIP Manufacturing registered growth rate of5.5percent during Q2 of2018-19 as compared to 2.5 percent during Q2 of 2017-18.



Electricity, Gas, Water Supply and Other Utility Services

5.4 Quarterly GVA at Basic Prices for Q22018-19 from ‘Electricity,Gas, Water Supply and Other Utility Services’ sector grew by 9.2percent as compared to growth of 7.7percent in Q22017-18. The key indicator of this sector, namely, IIP of Electricity registered growth rate of7.5percent during Q2 of2018-19 as compared to 6.1percent in Q2 of 2017-18.

Construction

5.5 Quarterly GVA at Basic Prices for Q22018-19from ‘Construction’ sector grew by 7.8percent as compared to growth of 3.1percent in Q22017-18. Key indicators of Construction sector, namely, production of Cement and Consumption of finished Steel registered growth rates of12.5percent and7.2 percentrespectively, during Q2 of2018-19 as compared to 0.6percent,7.6percent respectively, in Q2 of 2017-18.

Trade, Hotels, Transport, Communication and Services related to Broadcasting

5.6. Quarterly GVA at Basic Prices for Q22018-19 from this sector grew by 6.8 percent as compared to growth of 8.5percent in Q22017-18. Key indicator used for estimating GVA from Trade sector is the Sales Tax growth. With introduction of GST, Sales Tax data is now subsumed under GST. Therefore, a comparable estimate of turnover based on Sales Tax has been estimated. Methodology of estimation is as explained in the Annex to the press note on estimates of GDP for the second quarter (July-September) of 2017-18 released on 30thNovember, 2017. Indicator used for measuring GVA from Hotels and Restaurant sector is the Private Corporate growth in this sector. Among the Other Services sectors, Cargo handled at Major Sea Ports, Cargo handled by the Civil Aviation and passengers handled by the Civil Aviation registered growth rates of6.4 percent, 5.5 percent and 16.2 percent respectively, during July-September, 2018-19. Indicators of Railways sector, namely, Net Tonne Kilometers and Passenger Kilometers have shown growth of 6.9 percent and 2.2 percent respectively, duringQ2 of 2018-19.



Financial,Real Estate and Professional Services

5.7 Quarterly GVA at Basic Prices for Q22018-19 from this sector grew by6.3percent as compared to growth of 6.1percent in Q22017-18. Major component of this industry is the Real Estate and Professional Services which has a share of over 75percent.The key indicators of this sector are the quarterly growth of Corporate sector for Real Estate, Business Services andComputer Related Activities which are estimated from available data from listed companies. The other indicators of this sector, viz., AggregateBankDeposits, and Bank Credits have shown growth rates of8.1 percent and12.5percent respectively as compared to 8.2 percent and 6.5percentrespectively during 2017-18.



Public Administration, Defence and Other Services

5.8 Quarterly GVA at Basic Prices for Q22018-19 from this sector grew by 10.9percent as compared to growth of 6.1percent in Q22017-18. The key indicator of this sector namely, Union Government Revenue Expenditure net of Interest Payments excluding Subsidies,grew by 22.2percent during Q2 of 2018-19 as compared to 0.8percent in Q2 of 2017-18.





(b) At Current Prices

6. GDP is derived by adding Taxes on Products net of Subsidies on Products to GVA at Basic Prices. GDP at Current Prices in Q2 of 2018-19 is estimated at `45.54 lakh crore, as against `40.68 lakh crore in Q2 of 2017-18, showing a growth rate of 12.0 percent. GVA at Basic Price at Current Prices in Q2 of 2018-19, is estimated at `41.46 lakh crore, as against `37.03lakh crore in Q2, 2017-18, showing an increase of12.0 percent.Growth rates in various sectors are as follows: ‘Agriculture, Forestry and Fishing’ (2.8 percent), ‘Mining and Quarrying’ (20.7 percent), ‘Manufacturing’ (12.2 percent), ‘Electricity, Gas, Water Supply and Other Utility Services’ (16.3 percent), ‘Construction’ (13.2 percent), 'Trade, Hotels, Transport and Communication' (12.3percent), 'Financial, Real Estate and Professional Services' (12.5 percent), and ‘Public Administration, Defence and Other Services' (16.1 percent).



(c) Price Indices used as Deflators

7. The Wholesale Price Index (WPI), in respect of the groups - Minerals, Manufactured products, Electricity and All Commodities, has registered a growth of 8.2 percent, 4.4 percent, 6.4 percent and 5.0percent respectively whereas Food Articles declined by 2.1 percent during Q2 of 2018-19over Q2 of 2017-18. The Consumer Price Index (CPI) has shown a rise of 3.9percent duringQ2 of 2018-19as compared to growth of 3.0 percent during Q2 of 2017-18.



II ESTIMATES OF EXPENDITURES ON GDP

8. The components of Expenditure on Gross Domestic Product, namely, Consumption Expenditure and Capital Formation, are normally measured at Market Prices. The aggregates presented in the following paragraphs, therefore, are in terms of Market Prices.



Private Final Consumption Expenditure

9. Private Final Consumption Expenditure (PFCE) at Current Prices is estimated at `26.31 lakh crore in Q2 of 2018-19 as against`23.58 lakh crore in Q2 of 2017-18. At Constant (2011-12) Prices, the PFCE is estimated at`18.52 lakh crore in Q2 of 2018-19 as against`17.30 lakh crore in Q2 of 2017-18. In terms of GDP, the rates of PFCE at Current and Constant (2011-2012) Prices during Q2 of 2018-19 are estimated at 57.8 percent and54.5 percent, respectively, as against the corresponding rates of 58.0 per cent and 54.5 per cent respectively in Q2 of 2017-18.Growth rates of PFCE at Current and Constant Prices are estimated at 11.6 percent and 7.0 percent during Q2 of 2018-19 as compared to 9.9 percent and 6.8 percent respectively during Q2 of 2017-18.



Government Final Consumption Expenditure

10. Government Final Consumption Expenditure (GFCE) at Current Prices is estimated at`5.99lakh crore in Q2 of 2018-19 as against`5.10 lakh crore in Q2 of 2017-18.At Constant (2011-2012) Prices, the GFCE is estimated at`4.22lakhcrore in Q2 of 2018-19 as against`3.74lakh crorein Q2 of 2017-18. In terms of GDP, the rates of GFCE at Current andConstant(2011-2012) Prices during Q2 of 2018-19are estimatedat13.1 percent and12.4 percent, respectively, as against the corresponding rate of12.5 percent and11.8percentrespectively in Q2 of 2017-18.Growth rates of GFCE at Current and Constant Prices are estimated at 17.3 percent and 12.7 percent respectively during Q2 of 2018-19 as compared to 6.9 percent and 3.8 percent respectively during Q2 of 2017-18.

Gross Fixed Capital Formation

11. Gross Fixed Capital Formation (GFCF) at Current Prices is estimated at`13.28 lakh crore in Q2 of 2018-19 as against`11.37 lakh crore in Q2 of 2017-18. At Constant (2011-2012) Prices, the GFCF is estimated at`10.99 lakh crore in Q2 of 2018-19 as against`9.77 lakh crore in Q2 of 2017-18. In terms of GDP, the rates of GFCF at Current and Constant (2011-2012) Prices during Q2 of 2018-19 are estimated at29.2 percent and32.3 percent, respectively, as against the corresponding rates of 27.9 percent and30.8percent, respectively in Q2 of 2017-18. Growth rates of GFCF at Current and Constant Prices are estimated at 16.8 percent and 12.5 percent during Q2 of 2018-19 as compared to 8.4 percent and 6.1 percent during Q2 of 2017-18.



12. Estimates of GVA at Basic Price by kind of Economic Activity and the Expenditures on GDP in Q2(duringJuly-September) and in H1 (half yearly duringApril-September) of2016-17, 2017-18 and 2018-19 at Constant (2011-2012) and Current Prices, aregiven in Statements1 to 8.



13. The next release of quarterly GDP estimate for the quarter October-December, 2018 (Q3 of 2018-19) will be on 28.02.2019.



STATEMENT 1: QUARTERLY ESTIMATES OF GVA AT BASIC PRICES

IN Q2 (JULY-SEPTEMBER) OF 2018-19

(at 2011-12 Prices)

Industry

(`in crore)

Percentage change

GVA at Basic Price

over previous year

2016-17

2017-18

2018-19

2017-18

2018-19

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

1. Agriculture, Forestry & Fishing

386986

324733

398609

333334

419747

346102

3.0

2.6

5.3

3.8

1. Mining & Quarrying

99129

71728

100811

76704

100954

74841

1.7

6.9

0.1

-2.4

1. Manufacturing

510673

507701

501599

543682

569094

584164

-1.8

7.1

13.5

7.4

1. Electricity, Gas, Water Supply &Other Utility Services

62114

61945

66537

66717

71383

72858

7.1

7.7

7.3

9.2

1. Construction

225077

213851

229196

220536

249103

237836

1.8

3.1

8.7

7.8

1. Trade, Hotel, Transport, Communication &Services related to Broadcasting

517644

501747

560913

544404

598724

581418

8.4

8.5

6.7

6.8

1. Financial, Real Estate & Professional Services

659189

727192

714789

771317

761405

820009

8.4

6.1

6.5

6.3

1. Public Administration, Defence& Other Services

314250

359272

356731

381131

392211

422770

13.5

6.1

9.9

10.9

GVA at Basic Price

2775063

2768167

2929185

2937824

3162622

3139997

5.6

6.1

8.0

6.9



STATEMENT 2: QUARTERLY ESTIMATES OF EXPENDITURES OF GDP

IN Q2 (JULY-SEPTEMBER) OF 2018-19

(at 2011-12 Prices)



Item

(`in crore)

RATES OF GDP (%)

Expenditures of Gross Domestic Product

2016-17

2017-18

2018-19

2017-18

2018-19

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

1. Private Final Consumption Expenditure (PFCE)

1595219

1619781

1705974

1730288

1852663

1851644

54.7

54.5

54.9

54.5

2. Government Final Consumption Expenditure (GFCE)

313990

360466

369303

374216

397215

421664

11.8

11.8

11.8

12.4

3. Gross Fixed Capital Formation (GFCF)

960255

921132

968141

976881

1065217

1098675

31.0

30.8

31.6

32.3

4. Change in Stocks

22498

22367

21840

23672

23718

24580

0.7

0.7

0.7

0.7

5. Valuables

37008

39255

82235

60550

75650

74677

2.6

1.9

2.2

2.2

6. Exports

603715

612021

639145

653613

720410

741318

20.5

20.6

21.4

21.8

7. Less Imports

625621

654228

741150

719530

834103

903814

23.8

22.7

24.7

26.6

8. Discrepancies

46358

62743

72929

72420

73213

88875

2.3

2.3

2.2

2.6

GDP

2953421

2983537

3118417

3172110

3373983

3397620

100.0

100.0

100.0

100.0

GDP (Percentage change over previous year)





5.6

6.3

8.2

7.1















STATEMENT 3: QUARTERLY ESTIMATES OF GVA AT BASIC PRICES

IN Q2 (JULY-SEPTEMBER) OF 2018-19

(atCurrent Prices)



Industry

(`in crore)

Percentage change

GVA at Basic Price

over previous year

2016-17

2017-18

2018-19

2017-18

2018-19

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

1. Agriculture, Forestry & Fishing

563170

475789

566713

496356

606107

510157

0.6

4.3

7.0

2.8

1. Mining &Quarrying

83403

61720

94696

71203

111699

85920

13.5

15.4

18.0

20.7

1. Manufacturing

575041

574997

579718

630767

682421

707525

0.8

9.7

17.7

12.2

1. Electricity, Gas, Water Supply &Other Utility Services

90327

91141

97388

97819

110246

113729

7.8

7.3

13.2

16.3

1. Construction

260680

250158

271537

264977

309052

300076

4.2

5.9

13.8

13.2

1. Trade, Hotel, Transport, Communication & Services related to Broadcasting

602741

590614

671076

660610

749349

742032

11.3

11.9

11.7

12.3

1. Financial, Real Estate & Professional Services

767018

855853

859451

942353

963864

1060403

12.1

10.1

12.1

12.5

1. Public Administration, Defence&Other Services

421386

490842

493286

539378

569466

626198

17.1

9.9

15.4

16.1

GVA at Basic Price

3363766

3391115

3633866

3703464

4102203

4146040

8.0

9.2

12.9

12.0



STATEMENT 4: QUARTERLY ESTIMATES OF EXPENDITURES OF GDP

IN Q2 (JULY-SEPTEMBER) OF 2018-19

(at Current Prices)





Item

(`in crore)

RATES OF GDP (%)

Expenditures of Gross Domestic Product

2016-17

2017-18

2018-19

2017-18

2018-19

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

Q1

Q2

1. Private Final Consumption Expenditure (PFCE)

2082484

2146473

2276387

2358320

2589809

2631073

58.4

58.0

58.4

57.8

2. Government Final Consumption Expenditure (GFCE)

407970

477261

490957

510364

553398

598719

12.6

12.5

12.5

13.1

3. Gross Fixed Capital Formation (GFCF)

1089771

1048896

1120067

1136805

1275225

1327985

28.7

27.9

28.8

29.2

4. Change in Stocks

24726

24724

24522

26682

27470

28661

0.6

0.7

0.6

0.6

5. Valuables

40534

46975

84431

60936

71687

53356

2.2

1.5

1.6

1.2

6. Exports

704192

720269

760244

788999

892035

933243

19.5

19.4

20.1

20.5

7. Less Imports

757439

797968

912714

898512

1069029

1173837

23.4

22.1

24.1

25.8

8. Discrepancies

6254

48717

53504

84199

92770

155039

1.4

2.1

2.1

3.4

GDP

3598492

3715346

3897399

4067793

4433365

4554239

100.0

100.0

100.0

100.0

GDP (Percentage change over previous year)





8.3

9.5

13.8

12.0















STATEMENT 5: ESTIMATES OF GVA AT BASIC PRICES IN H1

(APRIL-SEPTEMBER) OF 2018-19

(at 2011-12 Prices)





APRIL-SEPTEMBER (H1)



(`in crore)

Percentage change

Industry

GVA at Basic Price in H1

Over previous year H1



2016-17

2017-18

2018-19

2017-18

2018-19

1. Agriculture, Forestry&Fishing

711719

731942

765849

2.8

4.6

1. Mining & Quarrying

170857

177515

175796

3.9

-1.0

1. Manufacturing

1018374

1045282

1153258

2.6

10.3

1. Electricity, Gas, Water Supply &Other Utility Services

124059

133253

144241

7.4

8.2

1. Construction

438928

449732

486938

2.5

8.3

1. Trade, Hotel, Transport, Communication &Services related to Broadcasting

1019391

1105317

1180142

8.4

6.8

1. Financial, Real Estate &Professional Services

1386381

1486106

1581414

7.2

6.4

1. Public Administration, Defence&Other Services

673522

737861

814981

9.6

10.5

GVA at Basic Price

5543231

5867009

6302619

5.8

7.4









STATEMENT 6: ESTIMATES OF EXPENDITURES OF GDP IN H1

(APRIL-SEPTEMBER) OF 2018-19

(at 2011-12 Prices)





APRIL-SEPTEMBER (H1)



(`in crore)

Rates of GDP (%)

Item

Expenditures of Gross Domestic Product in H1

in H1



2016-17

2017-18

2018-19

2017-18

2018-19

1. Private Final Consumption Expenditure (PFCE)

3215000

3436262

3704307

54.6

54.7

1. Government Final Consumption Expenditure

674456

743519

818879

11.8

12.1

1. Gross Fixed Capital Formation (GFCF)

1881387

1945023

2163892

30.9

32.0

4. Change in Stocks

44864

45512

48298

0.7

0.7

5. Valuables

76263

142785

150326

2.3

2.2

6. Exports

1215737

1292758

1461728

20.6

21.6

7. Less Imports

1279850

1460680

1737916

23.2

25.7

8. Discrepancies

109101

145349

162088

2.3

2.4

GDP

5936959

6290527

6771603

100.0

100.0

GDP (Percentage change over previous year)



6.0

7.6









STATEMENT 7: ESTIMATES OF GVA AT BASIC PRICES IN H1

(APRIL-SEPTEMBER) OF 2018-19

(at Current Prices)





APRIL-SEPTEMBER (H1)



(`in crore)

Percentage change

Industry

GVA at Basic Price in H1

over previous year H1



2016-17

2017-18

2018-19

2017-18

2018-19

1. Agriculture, Forestry &Fishing

1038959

1063069

1116264

2.3

5.0

1. Mining &Quarrying

145124

165899

197618

14.3

19.1

1. Manufacturing

1150038

1210485

1389946

5.3

14.8

1. Electricity, Gas, Water Supply & Other Utility Services

181467

195207

223976

7.6

14.7

1. Construction

510839

536514

609127

5.0

13.5

1. Trade, Hotel, Transport, Communication & Services related to Broadcasting

1193355

1331687

1491381

11.6

12.0

1. Financial, Real Estate & Professional Services

1622871

1801804

2024266

11.0

12.3

1. Public Administration, Defence&Other Services

912228

1032664

1195664

13.2

15.8

GVA at Basic Price

6754880

7337329

8248242

8.6

12.4



STATEMENT 8: ESTIMATES OF EXPENDITURES OF GDP IN H1

(APRIL-SEPTEMBER) OF 2018-19

(at Current Prices)









APRIL-SEPTEMBER (H1)



(`in crore)

Rates of GDP (%)

Item

Expenditures of Gross Domestic Product in H1

in H1



2016-17

2017-18

2018-19

2017-18

2018-19

1. Private Final Consumption Expenditure (PFCE)

4228957

4634707

5220882

58.2

58.1

2.Government Final Consumption Expenditure

885230

1001321

1152117

12.6

12.8

3.Gross Fixed Capital Formation (GFCF)

2138667

2256872

2603210

28.3

29.0

4. Change in Stocks

49450

51204

56130

0.6

0.6

5. Valuables

87510

145367

125043

1.8

1.4

6. Exports

1424461

1549243

1825278

19.5

20.3

7. Less Imports

1555407

1811226

2242865

22.7

25.0

8. Discrepancies

54971

137704

247809

1.7

2.8

GDP

7313838

7965192

8987603

100.0

100.0

GDP (Percentage change over previous year)



8.9

12.8





H1: April- September

 

[kmc_chacko]

India’s first engine-less train, Train 18, breaches 180 kmph during trials
https://www.hindustantimes.com/indi...ring-trials/story-zAkpRs5OJJCzZfcVlAx9xN.html

 

[Hindustani78]

Ministry of Chemicals and Fertilizers
03-December, 2018 14:52 IST
Optimal Utilization of Demographic Dividend in India, both a Challenge and an Opportunity for India’s Economic Growth: Shri Mansukh Mandaviya

Around 5.8 lakh youth skilled at CIPET, gainfully employed in last 4 years

“India has an advantage of Demographic Dividend like no other country in the World has today with over 60% percent of its youth in the working age group at present”, said Minister of State for Chemicals & Fertilizers, Road Transport & Highways, Shipping, Shri Mansukh L. Mandaviya in a statement here today.

Shri Mandaviyasaid thatin the near future, most of the sectors of Indian economy would require more skilled workforce than the present. It would be both a challenge and an opportunity for India to provide its workforce with required skill sets and knowledge to enable them to contribute substantially to its economic growth. Prime Minister of India, Shri Narendra Modi has identified ‘Skill India’ as a mission to skill India’s youth and ensure optimal utilization of India’s demographic dividend, the Minister added.

In this background,the Minister informed that the Department of Chemicals & Petrochemicals, under Ministry of Chemicals & Fertilizers, has made good progress in creating skilled workforce and generating gainful employment for Indian youth through Central Institutes of Plastic Engineering & Technology (CIPETs) across the country.

Giving information in this regard, Shri Mandaviya informed that since 2014, there has been a significant jump in the number of CIPET centres in the country from 23 to 39 in 2018. In the field of Plastics Engineering and Technology, CIPET is running long-term and short-term courses, including post-graduate, under-graduate and diploma. In the last 4 years, CIPET has provided professional and skill development trainingto approximately 6.4 lakh persons and employment to approximately 5.8 lakh persons in the field of plastic and allied industries, the Minister added.



*****

 

[lemurian]

http://infrastory.com/2018/12/06/alstom-delivers-22-makeinindia-metro-trains-for-sydney-metro/

French railway giant Alstom has successfully delivered the last of the 22 Metropolis trains for Sydney Metro from Alstom’s Sricity facility in Andhra Pradesh, India. The flag-off ceremony at Sricity took place in the presence of Ling Fang, Alstom Senior Vice President Asia Pacific, Alain Spohr, Managing Director India and South Asia, and Mark Coxon, Managing Director Australia and New Zealand.

In 2014, Alstom won a contract to deliver 22 six-car trainsets, as well as the CBTC signalling system, for North West Rail Link, Australia’s largest public transport project and first fully-automated metro network. Alstom’s engineering hub in Bengaluru adapted the Metropolis and Urbalis CBTC solutions to the specific needs of Sydney Metro to ensure fast, safe and reliable services to the residents of Sydney.

“We are immensely proud to have completed the last train for Sydney Metro in this landmark project for the Asia Pacific region. We are also proud to see Sricity concluding its first export order on time, delivering on expectations and winning our customer’s trust. We firmly believe in India’s role as a manufacturing and engineering hub for international markets, and this milestone bear witness to that,” said Ling Fang.

Having begun production in 2014, Sricity has already set high standards for quality and operational safety through excellence in innovation and sustainable manufacturing practices. With an annual production capacity of 240 cars, the site has delivered metros for the cities of Chennai, Kochi and Lucknow. It will begin work on its second export order for the light metro project in Montreal from early 2019 while production for Mumbai Metro Line 3 will also begin next year. The on-time delivery of the trainsets for Sydney establishes Alstom’s Sricity site as the one of the group’s global manufacturing centres of excellence for rolling stock.

The Metropolis train for Sydney offers maximum comfort and safety to passengers. A fully-automated train, it features the latest in passenger information systems, as well as areas for prams, luggage, bicycles, wheelchair spaces and separate priority seating for those with reduced mobility. Once inside, passengers can circulate freely throughout the train with wider gangways. The Metropolis destined for Sydney is based on the internationally proven Metropolis train platform. Metropolis trains currently operate in more than 25 cities around the world, including Singapore, Barcelona and Amsterdam.