Indian Economy-News & Updates

[MKC]

http://www.narendramodi.in/big-boost-to-rail-network-513365

22649 is with AJJ (Arrakonnam) not Erode

How do you remember such things?

 

[Ankit Kumar 002]

Cabinet approves Nine projects worth Rs. 24,374.86 crore in Nine States

In a major push to give a boost to the infrastructure sector in the country, the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for nine projects worth Rs. 24,374.86 crore in nine States for expansion of railway network and connectivity across the country.
S.No.

States

Project

Length
(kms)
Expenditure
(in crores)
1

Assam
Construction of 2nd railway line between New Bongaigaon and Kamakhya
176

2586.85
2

Jharkhand
Construction 3rd line between Kharagpur (Nimpura) and Adityapur
132

1483.36
3
Chhattisgarh and Maharashtra
Construction of 3rd line between Rajnandgaon-Nagpur (Kalumna) in Rajnandgaon district of Chhattisgarh and Gondia, Bhandara and Nagpur districts in Maharashtra
228.3

2,193.53
4
Uttar Pradesh and Madhya Pradesh
Construction of 3rd line between Mathura and Jhansi
Construction of 3rd line between Jhansi and Bina
273.80
152.57

4,377.13
2,273.84
5
Madhya Pradesh and Maharashtra
Construction of 3rd line between Itarsi and Nagpur
280 km

2,882.94
6
Telangana and Maharashtra
Construction of 3rd line between Ballarshah and Kazipet
201.04

2,403.22
7

Andhra Pradesh
Construction of 3rd line between Vijaywada and Gudur
287.67

3,875.68
8
Odisha and Chhattisgarh
Construction of 4th line between Jharsuguda and Bilaspur
206

2,298.31
TOTAL – Nine projects
1,937.38

24,374.86
Besides facilitating the travel by easing the traffic bottlenecks, the approved lines would help the upcoming industries in the region and additional transport capacity to meet their requirements.
The goods trains supplying foodgrains from one region to another, various industries, mines, coal fields and power plants will have additional transport capacity through these lines resulting in more revenues to Indian Railways.
*****
AKT/VBA/SH

(Release ID :149165)

 

[proud_indian]

https://twitter.com/x/status/768452623951278080

 

[anant_s]

How do you remember such things?

i had a picture long time ago.
But i'm wrong as things stand right now.
22649 has now been transferred to Erode (via Royapuram).

Original shed

Next Shed

Current Shed

btw here is a link that will help as far as electrical locos are concerned.
http://elocos.railnet.gov.in/Loco_bank/shedwise.aspx

 

[anant_s]

Some old pictures from past.

WCAM 1 class loco undergoing trials. this bi-voltage class has retired now.

WAG 5 standing for trials at CLW

First WAP 4 (5000 HP, Passenger class loco).

The only WAP 3 ever built. 22005 (now reclassified as WAP 1), with Bhopal Shatabdi express (then) fastest passenger train in country.

WAG 5 class loco

 

[PARIKRAMA]

Cabinet approves Nine projects worth Rs. 24,374.86 crore in Nine States

In a major push to give a boost to the infrastructure sector in the country, the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for nine projects worth Rs. 24,374.86 crore in nine States for expansion of railway network and connectivity across the country.
S.No.

States

Project

Length
(kms)
Expenditure
(in crores)
1

Assam
Construction of 2nd railway line between New Bongaigaon and Kamakhya
176

2586.85
2

Jharkhand
Construction 3rd line between Kharagpur (Nimpura) and Adityapur
132

1483.36
3
Chhattisgarh and Maharashtra
Construction of 3rd line between Rajnandgaon-Nagpur (Kalumna) in Rajnandgaon district of Chhattisgarh and Gondia, Bhandara and Nagpur districts in Maharashtra
228.3

2,193.53
4
Uttar Pradesh and Madhya Pradesh
Construction of 3rd line between Mathura and Jhansi
Construction of 3rd line between Jhansi and Bina
273.80
152.57

4,377.13
2,273.84
5
Madhya Pradesh and Maharashtra
Construction of 3rd line between Itarsi and Nagpur
280 km

2,882.94
6
Telangana and Maharashtra
Construction of 3rd line between Ballarshah and Kazipet
201.04

2,403.22
7

Andhra Pradesh
Construction of 3rd line between Vijaywada and Gudur
287.67

3,875.68
8
Odisha and Chhattisgarh
Construction of 4th line between Jharsuguda and Bilaspur
206

2,298.31
TOTAL – Nine projects
1,937.38

24,374.86
Besides facilitating the travel by easing the traffic bottlenecks, the approved lines would help the upcoming industries in the region and additional transport capacity to meet their requirements.
The goods trains supplying foodgrains from one region to another, various industries, mines, coal fields and power plants will have additional transport capacity through these lines resulting in more revenues to Indian Railways.
*****
AKT/VBA/SH

(Release ID :149165)

 

[PARIKRAMA]

View attachment 328583

 

[PARIKRAMA]

 

[raj76]

हरे कृष्ण हरे कृष्ण,कृष्ण कृष्ण हरे हरे
हरे राम हरे राम, राम राम हरे हरे
25-08-2016

#Economy:The finance ministry wants the proposed vehicle fleet modernisation policy for heavy vehicles that are more than 15 years to be made mandatory. It has also suggested that instead of excise duty relief, financial benefit for mandatory scrapping of old and polluting vehicles be provided via the budget.

#Finance:SBI, the country's largest bank, may partner with LIC and IIFCL to set up a credit enhancement fund that will guarantee lower-rated bonds issued by infrastructure companies and bolster their ratings.

#Households with two ACs and a host of gadgets at home will now have to shell out at least Rs 10,000 more on their power bills a year. This would be a 12% hike against previous year. Experts say next year the rise would be higher as a new environment norm kicks in.

#Mera bharat mahaan:Govt plans to overhaul India’s wildlife protection laws by amending the Wildlife (Protection) Act, 1972. The aim is to regulate international trade in endangered species of wild fauna and flora in line with CITES. Severe penalties ranging up to Rs.50 lakh for violations and it prohibits manufacture, sale, purchase, possession, transport or use of any animal trap by any person residing within 10km of a wildlife sanctuary.

हाथी घोडा पालकी�� जय कन्हिया लाल की��
श्री कृष्ण जन्माष्टमी की आपको और आपके परिवार को बहुत बहुत शुभकामनाएं!

भारत माता की जय

 

[proud_indian]

India’s GDP to expand by 7.9% this fiscal: Goldman

​

Reuters​

Goldman Sachs has said that Indian economy is expected to clock 7.9 per cent growth in the current fiscal. File Photo

GDP is expected to improve gradually and for the Apri-June quarter it may slow a tad to 7.8 per cent, in part due to unfavorable base.

Indian economy is expected to clock 7.9 per cent growth in the current fiscal driven by better monsoon, government pay hike, key reforms and FDI inflows, Goldman Sachs has said.

The global financial services major said the GDP is expected to improve gradually and for the April—June quarter it may slow a tad to 7.8 per cent, in part due to unfavorable base. It had grown at 7.9 per cent in the previous quarter.

“For the fiscal year 2016-17, we forecast real GDP to grow by 7.9 per cent year—on—year, higher than consensus expectations of 7.5 per cent and up from 7.6 per cent in FY16,” Goldman Sachs said in a research note.

It further noted that a better monsoon, civil service wage hike following 7th Pay Commission, a favorable fiscal monetary policy mix, the recent passage of key reforms and continued FDI inflows should all support growth.
It said key risks to India’s growth trajectory include a faster pace of US Fed rate hikes than is currently priced in, concerns about Chinese growth and capital flows. Domestically, it cited aggravation of bad loans problem of state-owned banks or fiscal revenue slippage as potential risks.

Moreover, corporate leverage may constrain activity in heavily levered sectors, it added.

Lauding several important policy changes and reforms that have taken place over the past couple of months in the country like passage of the GST bill, government approval of the inflation targeting framework (along with the designation of a new RBI governor), Goldman Sachs said these initiatives paint a “positive” picture for the economic trajectory ahead.

Positive monsoon developments for the first time in three years is also supportive of growth in numbers.

“These developments have supported foreign capital inflows over the past quarter. Moreover, a stable INR amidst global risk-off events, including Brexit, has helped investor confidence,” the report said.

The report said that besides, the big ticket reforms like the GST bill and the bankruptcy code, several ‘nuts and bolts’ reforms have also been carried out in the year including measures to ease doing business, a pick-up in infrastructure investment, and easing in FDI restrictions in the defense, aviation, retail and e-commerce sectors, among others.

“We believe the government’s focus on executing these reforms and building out rural infrastructure will have a gradual positive impact on India’s economic growth trajectory,” the report said.

The country’s real GDP growth accelerated to 7.9 per cent year-on-year in the first quarter of this year and recorded a five-year high growth rate of 7.6 per cent for the 2015-16 fiscal on robust manufacturing growth.

http://www.thehindu.com/business/Ec...ndias-gdp-is-set-to-expand/article9031572.ece

 

[Nilgiri]

I am actually expecting in range of 8 - 8.5%, esp with IIP statistical issues (like rubber cable sensitivity) being sorted out (and positive sentiment this creates along with incoming GST, good monsoon and some signs NPA will be eased and stability/continuity by Urjit Patel on overall monetary policy).

 

[raj76]

हरे कृष्ण हरे कृष्ण,कृष्ण कृष्ण हरे हरे
हरे राम हरे राम, राम राम हरे हरे
26-08-2016

#Economy PM will review progress on implementation of action plans set up for all departments.The PM had in January this year set up eight groups of secretaries for focused attention on areas like good governance, inclusive growth, employment etc.

#Finance:The National Payments Corporation of India, the umbrella body for all payments within the country, received the RBI clearance and allowed banks' Unified Payment Interface applications to go live on Google Play Store over the next two days. It is initially available only on the Android mobile operating system.

#State Bank of India and Punjab National Bank are on a drive to auction properties to recover dues. SBI is holding a mega e-auction where it would sell a record 1,107 properties online on September 7.

#Mera bharat mahaan:Researchers have developed a smartphone app that could help improve adherence to medications such as among people living with HIV by putting the prevention in their pocket. The app — named DRUM — could help lead people infected with the disease to quicker intervention in cases where a patient has missed a number of doses.

भारत माता की जय

 

[anant_s]

First Japanese Electric Locomotive on Indian Railways WAM 2

Photo Courtesy: Locomotives of Indian Railways (FB Page). Photographer George Wood

Evolution of Indian Freight Locomotives

& Increase in Speeds

 

[Ankit Kumar 002]

Railway passengers to get Rs 10 lakh insurance cover

NEW DELHI: A person booking a train ticket through the IRCTC website will be able opt for travel insurance cover upto Rs10 lakh for a premium of 92 paise only from August 31.

The scheme offers travellers/nominees/legal heirs a compensation of Rs 10 lakh in the event of death or total disabilty, Rs 7.5 lakh for partial disability, upto Rs 2 lakh for hospitalisation expenses and Rs 10,000 for transportation of mortal remains from the place of a train accident, terrorist attack, dacoity, rioting, shootout or a son, occurs, said Railway Minister Suresh Prabhu.

http://www.newindianexpress.com/bus...insurance-cover/2016/08/26/article3597303.ece

 

[Nilgiri]