Indian Economy-News & Updates

[raj76]

हरे कृष्ण हरे कृष्ण,कृष्ण कृष्ण हरे हरे
हरे राम हरे राम, राम राम हरे हरे
31-08-2016

#Economy:Govt announced that it has decided to issue fifth tranche of Sovereign Gold Bonds in consultation with the RBI. Applications for the bonds will be accepted from September 1, 2016 to September 9, 2016.

#Finance:Govt approved 16 highway projects in 11 states to be executed at a cost of Rs 7,457 crore.

#The Income Tax deptt has seized an all-time high value of cash and jewellery, while Rs 3,360 crore unpaid taxes have been surrendered this year as part of its enhanced crackdown against black money holders in the country. I-Tax searches this year have beaten all records of the last about five years in terms of number of such actions conducted, seizures made and subsequently the untaxed income brought to the Govt coffers.

#Investors and entities who lent money to trade on the now defunct NSEL are facing heat from i.tax. Some of the 13,000 investors have received notices seeking details, among others, of source of funds, bad debt claimed during assessment years 2014-15 and 2015-16 and of investments made in NSEL.

#Mera Bharat Mahaan:The draft vehicle scrapping policy would offer a combined benefit of Rs 14000 crore to the Centre and states and drive the auto industry growth by 22 %.

भारत माता की जय

 

[Shravan#22580]

Yes, but now most are restricted at 110. Some from MGS even at 100 due to age.

Yeah! Age bugs everyone, including trains

 

[luckych]

Indian economy grows 7.1 percent in June quarter - govt
http://in.reuters.com/article/india-economy-gdp-june-idINKCN1161JA

 

[ahojunk]

Railways exploring ways to run trains at 500kmph
Aug 31, 2016, 07.28 PM IST

Indian Railways is emerging technologies available in the world, including levitation technology

HIGHLIGHTS
• Railways will organise a global meet to explore the possibilities of introducing ultra-high speed technology to run trains
• The conference has evoked interest from all major players
• Emerging technologies can easily take a train's speed beyond 350kmph. A top speed of 500kmph is also not a distant dream


NEW DELHI: Moving ahead on its Mission 350 Plus, Railways will organise a global meet to explore the possibilities of introducing ultra-high speed technology to run trains at a speed of 500 km per hour.

"Railway Minister Suresh Prabhu has envisioned Mission 350 Plus in which the Railways should enter the futuristic field of ultra-high speed rail network and work towards building an Indian technology which is economical and on par with the best," Rolling Stock Member Hemant Kumar said on Wednesday.

Accordingly, Railways has floated an Expression of Interest (EoI) tender for developing, constructing and running ultra-high speed railway system in India on PPP basis.

The last date for the EoI is September 6 and so far four global players from have shown interest in the project, a senior railway official said.

It is expected that the EoI will give a full view of emerging technologies available in the world in this frontier area of railway technology and enable Indian Railways to move to the next step of sanctioning a project.

Trains can run at more than 350 km per hour speed with the use of levitation technology which is operational in Germany, China and Japan, among other countries, he said.

In order to take this mission further, Railways is organising a one-day international conference on September 2 here on technology for ultra high speed rolling stock for operation at maximum speeds of 500 kmph and above.

Kumar said the conference has been organised to bring focus on development ultra-high speed railway systems+ in the country.

"This will create a confluence of minds and ideas from across the globe and become a catalyst for a major transformation of Indian Railways to an ultra modern railway system, on par with the best," Kumar added.

The conference has evoked interest from all major players in the field of ultra-high speed including Germany, USA, Japan, Switzerland and Spain.

Kumar said, "The Railway Minister's vision is to make rolling stock the driver for this major shift from India being a technology importer and manufacturer to becoming a developer and designer for futuristic rolling stock technologies."

HyperLoop Transport Technology from USA, Quadralev USA, Talgo from Spain, RTRI Japan, Siemens Germany, Knorr Bremse, Germany, Prose Switzerland are expected to participate in the meet.

Besides, delegates numbering about 500 from railways, Indian industry, diplomatic community, international industry, federations of unions in railways are likely to attend the conference.

 

[Ankit Kumar 002]

International conference on Technology for Ultra High Speed rolling stock

A first ever International conference in India on Technology for Ultra High speed rolling stock for operation at maximum speeds of 500 kmph and above is being held under the aegis of Institute of Rolling Stock Engineers (IRSE) and Indian Railways Service of Mechanical Engineers Association supported by Indian Railways , Railway PSUs RITES and Konkan Railway Corporation Limited. This one day conference shall be held in New Delhi on the 2nd September 2016. Minister for Railways , Shri Suresh Prabhakar Prabhu will be the Chief Guest. Minister of State (Independent Charge) for Communications and Minister of State for Railways Shri Manoj Sinha, Minister of State for Railways, Shri Rajen Gohain will also grace the occasion. Niti Aayog Members , Dr. Bibek Debroy, Senior Government officials including Railway Board Chairman and Members, Secretary level officers from related Ministries, Chairman ISRO, leaders of Industrial federations and leaders from the Industry shall also be present on this momentous occasion.

Briefing the media about this Conference, Member Rolling Stock, Railway Board Shri Hemant Kumar, that Minister of Railways Shri Suresh Prabhakar Prabhu envisioned that Indian Railways should enter the futuristic field of Ultra high Speed Railways now and work towards building an Indian Technology which is economical and at par with the best. His vision is to make rolling stock the driver for this major shift from India being a technology importer and manufacturer to becoming a developer and designer for futuristic rolling stock technologies. The conference has been organized with the purpose of bring focus on development ultra high speed railway systems in India. This will create a confluence of minds and ideas from across the globe and become a catalyst for a major transformation of Indian Railways to an ultra modern Railway system, at par with the best.

The conference has evoked interest from all majors in the field of Ultra High Speed. Leaders like HyperLoop Transport Technology, USA, Quadralev USA, Talgo, Spain, RTRI Japan, Siemens Germany, Knorr Bremse, Germany , Prose Switzerland shall be participating. Delegates numbering about 500 from Railways, Indian Industry, Diplomatic Community , international Industry, Federations of Unions in Railways etc.

This conference comes immediately before opening of an Expression of Interest tender for developing, constructing and running a Ultra High Speed Railway system in India on PPP basis. It is expected that the EOI will give a full view of emerging technologies available in the world in this frontier area of railway technology and enable Indian Railway to move to the next step of sanctioning a project.

***
AKS/AK/MKV
(Release ID :149403)

@anant_s No Chinese representative?

 

[Nilgiri]

@anant_s @PARIKRAMA @Abingdonboy @proud_indian @Local_Legend @Ankit Kumar 002

 

[Nilgiri]

 

[raj76]

हरे कृष्ण हरे कृष्ण,कृष्ण कृष्ण हरे हरे
हरे राम हरे राम, राम राम हरे हरे
01-09-2016

#Economy:Expansion of India's core sector slowed to 3.2% in July compared with a 5.2% growth in June. Among the eight sectors that make up the core sector, which itself has a 38% weight in the IIP, refinery output grew the fastest at 13.7% followed by coal whose output rose 5.1%.

#Finance:In a move to get stalled construction projects moving, the Cabinet approved new arbitration norms that will help in quicker resolutions for companies.Under the new norms, the Govt will release 75% of amounts against margin free guarantee in cases where arbitral awards have been given but have been contested.The amount released will be used by contractors to complete projects or pay off debts.

#Petrol prices hiked by Rs 3.38/litre, diesel up by Rs 2.67/litre.

#The Govt has fast tracked the operationalisation of the new Benami law, which will complete its framework for tackling black money generation. The Benami law complements a law passed earlier to discourage parking of illicit funds overseas.

#Mera Bharat Mahaan: Moving ahead on its Mission 350 Plus, Railways will organise a global meet to explore the possibilities of introducing ultra-high speed technology to run trains at a speed of 500 km per hour.

भारत माता की जय

 

[Kraitcorp]

I wasnt sure if I should post it here. These are'nt anything less by any standards .

https://www.facebook.com/video.php?v=10154491879994594

https://www.facebook.com/video.php?v=10154492391299594

https://www.facebook.com/video.php?v=10154491416019594

https://www.facebook.com/video.php?v=10154487908719594

https://www.facebook.com/video.php?v=10154481526914594

 

[Dungeness]

Arvind Panagariya sees good monsoon and reforms pushing growth to 8% this year

NEW DELHI: India's economy will accelerate to 8 per cent growth in the current financial year thanks to a good monsoon, policy reforms and PM Narendra Modi's focus on implementation at the grassroots level, Niti Aayog Vice-ChairmanArvind Panagariya told ET in an interview. And, unlike most others, he also sees private investment doing better this year.

He also said India has strongly opposed the language of the draft on intellectual property protection to be taken up at the upcoming G20 meeting in Beijing, signalling the government's firm stand against any move by developed nations to undermine the flexibility the country enjoys under the existing multilateral regime. The eminent economist is also India's Sherpa at G20.

Panagariya expects growth to hasten from 7.6 per cent in FY16.

"I feel we should cross 8 per cent because nothing I see takes away from what we had last year," Panagariya said. "Good monsoon is a big mood lifter and so are the series of reforms carried out though they have a lag effect."

Private investment should also pick up this year. "You will begin to see a little turnaround in the sectors that were really down, for example steel and construction sector. It is not obviously upbeat but these sectors are getting out of that mood," he said.

While the prime minister's focus is on execution and implementation, changes in land and labour laws will happen only when the government has numbers in the Rajya Sabha, where it currently lacks a majority.

"These have to happen through states," he added, while pointing out that some states were already framing progressive labour and land laws.

With regard to G20, he said India has maintained that its policy on intellectual property rights (IPR) is consistent with the agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).

According to Panagariya, the IPR framework being proposed at G20 is not TRIPS-plus in the explicit sense but there is some language that could be subject to interpretation and the view is not to leave any room for ambiguity.

"There is a certain flexibility that we have under the TRIPS agreement and anything that dilutes that flexibility is not acceptable to India," Panagariya said ahead of the G20 summit in China on September 4-5. "Right now, these documents have some language where people in DIPP (Department of Industrial Policy & Promotion) feel that it impinges a bit. We have to fight it out at the summit."

In recent years, developing countries have faced pressure to include restrictive conditions in patent laws other than those required by the TRIPS agreement. These are known as TRIPS plus provisions. Also, the US has repeatedly raised concerns over India's patent regime.

http://economictimes.indiatimes.com...rowth-to-8-this-year/articleshow/53918645.cms

8%, 10%... For some reason, lots of Indian politicians tend to hold a wishful thinking , which makes RBI Chairman Mr. Raghuram Rajan the Mr. Right.

 

[Kraitcorp]

India jumps 19 places in World bank's Logistics Performance Index

NEW DELHI: India has now been ranked 35 amongst 160 countries compared to rank of 54 in Logistics Performance Index (LPI) 2016. This is a jump of 19 places. The World Bank has recently released a Logistics Performance Index (LPI) 2016 report titled "Connecting to Complete 2016". The Logistics Performance Index Report is published by World Bank every two years.Release added further that in terms of the six-components of the LPI i.e. Customs, Infrastructure, International Shipments, Logistics Quality and Competence, Tracking and Tracing, and Timeliness, India's ranking is 38, 36, 39, 32, 33 and 42 respectively.

The LPI is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance.
The LPI is based on a worldwide survey of stakeholders on the ground providing feedback on the logistics "friendliness" of the countries in which they operate and those with which they trade. They combine in-depth knowledge of the countries in which they operate with informed qualitative assessments of other countries where they trade and have experience of global logistics environment.
Improvement in India's rank in Logistics Performance Index adequately establishes steady performance in our competitiveness in manufacturing and trade that also acts as one of the growth driver of Make in India Programme.

Rank:

China: 27
India: 35 Not bad by Our Modi Govt
http://timesofindia.indiatimes.com/...cs-Performance-Index/articleshow/53946210.cms

http://lpi.worldbank.org/international/global/2016

http://lpi.worldbank.org/international/global/2016?dl=true

 

[Nilgiri]

8%, 10%... For some reason, lots of Indian politicians tend to hold a wishful thinking , which makes RBI Chairman Mr. Raghuram Rajan the Mr. Right.

Um Arvind Panagriya is not a politician

India jumps 19 places in World bank's Logistics Performance Index

NEW DELHI: India has now been ranked 35 amongst 160 countries compared to rank of 54 in Logistics Performance Index (LPI) 2016. This is a jump of 19 places. The World Bank has recently released a Logistics Performance Index (LPI) 2016 report titled "Connecting to Complete 2016". The Logistics Performance Index Report is published by World Bank every two years.Release added further that in terms of the six-components of the LPI i.e. Customs, Infrastructure, International Shipments, Logistics Quality and Competence, Tracking and Tracing, and Timeliness, India's ranking is 38, 36, 39, 32, 33 and 42 respectively.

The LPI is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance.
The LPI is based on a worldwide survey of stakeholders on the ground providing feedback on the logistics "friendliness" of the countries in which they operate and those with which they trade. They combine in-depth knowledge of the countries in which they operate with informed qualitative assessments of other countries where they trade and have experience of global logistics environment.
Improvement in India's rank in Logistics Performance Index adequately establishes steady performance in our competitiveness in manufacturing and trade that also acts as one of the growth driver of Make in India Programme.

Rank:

China: 27
India: 35 Not bad by Our Modi Govt
http://timesofindia.indiatimes.com/...cs-Performance-Index/articleshow/53946210.cms

http://lpi.worldbank.org/international/global/2016

http://lpi.worldbank.org/international/global/2016?dl=true

old news bro

 

[Dungeness]

Um Arvind Panagriya is not a politician



old news bro

Did you read today's data?

 

[anant_s]

@ahojunk Congratulations on your promotion brother

No Chinese representative?

Ankit, i believe this is a conference only and Chinese participation not there, shouldn't be taken as absence of Chinese participation in future HST projects in India.
I think we still have to go a very long way as far as implementation of HST projects on large scale is concerned and honestly unless railway turns massively profitable, it will be an uphill task to find finances for these niche projects.
I once had a discussion on this topic from Chinese perspective with @AndrewJin and would like to share it with you all.
China didn't implement HST in one go and went in an incremental manner. They started in mid 70s and segregated freight and passenger traffic and wherever required constructed new lines for either freight or passenger, depending on what generates more revenue.
After this more lines were available for exclusive passenger traffic and these were then upgraded for higher speeds by incorporating better vehicle technology (Locos and train rakes), safety and communications. Freight lines were moved away from crowded locations to reduce cost (such as cities).
Once Passenger train speeds increased, it attracted more traffic allowing Railways to generate surplus capacity (money wise) to introduce higher fare and faster trains and it became basis of genuine 250+ HST lines which as i believe is already increased to 20,000+ kms of upto 350kph speed lines.

If you compare above situation with India, we are probably at a stage where we want to take up line segregation and introduction of HST (or semi HST) simultaneously. The trouble off course is to find money and resolve for all this. 7 that is why is say we are atleast 10-15 away from seeing some perceptible change on ground in this field.
Till then let some enjoy cocktail dinner that usually follow in such conferences.

 

[Kraitcorp]

Um Arvind Panagriya is not a politician



old news bro

OLD NEWS
Aug 31, 2016, 05.32 PM IST