Four Laning of National Highway 91
Ghaziabad to Aligarh section of Ghaziabad – Aligarh – Kanpur National Highway No. 91 is in good condition and from Aligarh to Kanpur, it is being maintained in motorable condition through maintenance work. Out of total length of 126.30 kms of NH-91 between Ghaziabad and Aligarh, 4-laning in 121 kms has been completed. For 4-laning of Aligarh to Kanpur section of this National Highway, preparation of detailed project report (DPR) is in progress. The remaining work of 4-laning of 5.30 kms length between Ghaziabad and Aligarh is likely to be completed by December, 2016 after resolving the bottlenecks on account of availability of hindrance free land. As regards 4-laning of Aligarh to Kanpur section, it is premature to indicate the date of completion. David DeCastro Jersey
Training/Awareness Programmes on Traffic Management
Ministry of Road Transport & Highways (MoRTH) is sponsoring training programmes for State Transport / Traffic Department personnels to keep them abreast with developments of the road transport sector. During financial year 2015-16, MoRTH sanctioned 54 training programmes for State Transport/Traffic department personnels to be conducted through seven leading institutes of the country namely, Central Institute of Road Transport (CIRT), Pune, Automotive Research Association of India (ARAI), Pune, Engineering Staff College of India (ESCI), Hyderabad, Instiutute of Road Traffic Education (IRTE), Faridabad, Indian Institutes of Technology (IIT), Delhi, Petroleum Conservation Research Association (PCRA), Delhi and Indian Institute of Petroleum (IIP), Dehradun. The training programmes are designed in such a manner so as to give the participants exposure in all spheres of governance in road transport sector and to enable them to face the emerging challenges. Out of the fifty four programmes, one three-days training programme was conducted by CIRT, Pune on the topic ‘Road Traffic Management’. Another five-days training programme on the topic ‘Advanced Automotive Technology and Indian Road Traffic Pattern – Challenges & Opportunities’ was conducted by IIP, Dehradun during 2015-16. Nolan Patrick Authentic Jersey
India’s fuel demand likely to rise 7.3% in FY17
After registering the fastest pace of growth in 15 years, India’s fuel demand is likely to rise by 7.3 per cent in 2016-17 fiscal, lead by robust expansion in consumption of petrol and diesel. Fuel consumption, which rose 10.9 per cent in 2015-16 to 183.5 million tonnes, is projected to rise to 190.03 million tonnes, according to demand estimates made by Oil Ministry. Diesel demand, which soared 7.5 per cent to 74.6 million tonnes last fiscal, is projected to further go up by 7.7 per cent to 78.11 million tonnes. The consumption of petrol is projected to rise by 12.4 per cent to 24.14 million tonnes. Petrol consumption was up 14.5 per cent at 21.8 million tonnes in 2015-16, its highest level in two decades as automobile sales grew at their fastest pace in five years on narrowing price differential between petrol and diesel. Indian Oil Corp ( IOC) Director ( Finance) A K Sharma said the narrowing price difference between petrol and diesel has led to people preferring petrol driven vehicles. While petrol price was free or made market driven in June 2010, diesel was linked to market only in November 2014. Subsidy on diesel meant it costed about Rs 20 less than petrol. But now, a litre of petrol in Delhi costs Rs 61.13 while diesel is priced at Rs 48.01 per lire. The higher rate for petrol is a result of more taxes on it than diesel. Naphtha consumption is projected to rise by 5.5 per cent to 13.6 million tonnes in 2016-17, an indication of greater demand from industry because of economic activity picking up, the ministry’s demand estimate showed. ATF or jet fuel sale is projected to rise 3.9 per cent to 6.18 million tonnes. So is cooking gas LPG whose consumption is projected to rise by 9.3 per cent to 21.16 million tonnes. Kerosene sale, however, is projected to fall 10 per cent to six million tonnes as government pushes for use of cleaner LPG in households instead of the heavily subsidised kerosene. Kerosene demand fell to 6.82 million tonnes in 2015-16 from 7.02 million tonnes. Also in 2015-16, LPG sales were up 8.6 per cent at 19.5 million tonnes while Naphtha consumption was 20.9 per cent higher at 13.4 million tonnes. ATF or jet fuel consumption was up 8.7 per cent at 6.22 million tonnes in 2015-16, indicating robust growth in air traffic. Lauri Markkanen Jersey
Government to save Rs. 54,223 crore as oil subsidy dips 29% in 2015-16
Subsidy on petroleum products has come down by nearly 29% in 2015-16, marking a saving of Rs 54,223 crore from the year-ago period on the back of low crude prices and market reforms. Latest government data pegs subsidy on domestic LPG (liquefied petroleum gas supplied in refills as kitchen fuels) and kerosene, the only two fuels subsidised by the government, at Rs 22,085 crore in 2015-16 against Rs 76,308 crore in 2014-15. Subsidy on LPG is estimated at Rs 12,092 crore for 201516, down from Rs 40,569 crore in 2014-15. Similarly, subsidy on kerosene declined to Rs 9,993 crore in 2015-16 from Rs 24,804 crore in 2014-15, oil mi nister Dharmendra Pradhan told the Lok Sabha in a written reply on Monday . The lower subsidy bill comes as icing on the cake for policy makers. India’s crude oil import bill for 2015-16 is likely to be half the previous year’s tab. The savings, combined with the additional mop up through excise duty hikes, would provide a wide financial berth for the government’s social sector projects. Outgo on crude import is estimated to drop 45% from $113 billion in 2014-15 to $62 billion, assuming an average price of $35 a barrel for the mix of crude India buys and an exchange rate of Rs 67 to a dollar for February and March 2015, according to the Petroleum Planning & Analysis Cell, the oil ministry’s market tracker. Market reforms, namely deregulation of diesel pricing from October 2014, and effective implementation of the scheme to transfer cash subsidy on LPG directly into consumers’ account also helped save government’s outgo. While there is no subsidy on diesel since Ocotber 19 2014, the cash transfer scheme has plugged leakage of subsidy by eliminating ghost connections, one of the key factors responsible for diversion of subsidised cylinders into the black market for commercial use. Buoyed by the savings, the government is pushing state-run fuel retailers to expand their network and is set to launch on May 1 an ambitious Rs 8,000 crore programme to provide free of cost gas connection in the name of women from five crore BPL (below-poverty line) families in next 3 years to increase clean fuel penetration in rural areas. Overall LPG coverage has been going up in the last few years in the country , estimated at 61.9%. Ryan Fitzpatrick Authentic Jersey
Civil Aviation Ministry gives ‘site clearance’ for four airports this year
The Ministry of Civil Aviation has given in-principle approval for a greenfield airport in Gujarat as well as site clearance for four airports in Andhra Pradesh and Rajasthan this year. Minister of State for Civil Aviation Mahesh Sharma said various proposals have been received for setting up greenfield airports in many states including Maharashtra, Uttar Pradesh and Madhya Pradesh. In a written reply to Rajya Sabha, he said, this year, the ministry has granted ‘in-principle’ approval for setting up a greenfield airport at Dholera in Gujarat. Besides, ‘site clearance’ was granted in January for greenfield airports at “three locations in Andhra Pradesh namely Dagadarthi Mendal in Nellore, Bhogapuram in Vizianagaram and Oravakallu in Kurnool and one location in Rajasthan namely Bhiwadi in Alwar”, Sharma said. According to him, a decision has been taken to close the existing Vishakapatnam airport for civilian operations once the new airport at Bhogapuram becomes operational. Under the Greenfield Airport Policy, 2008, funding of the projects is the responsibility of individual developers. The minister said that proposals have been received for having greenfield airports at various locations. These include “Sholapur and Bolera (Amrawati) in Maharashtra, Annakara (Idduki) in Kerala, Dwarka in Gujarat, Gwalior and Singrauli in Madhya Pradesh, Androth in Lakshadweep, Kothagudem (Khammam) in Telangana, Jewar in Uttar Pradesh and Chingleput ( Chennai) in Tamil Nadu,” he noted. Trevor Siemian Authentic Jersey
Air India expects ‘modest operating profit’ in FY16: Mahesh Sharma
Air India, which has seen its operating loss fall consistently in the past few years, expects to post a “modest operating profit” for the just- concluded fiscal, Union Minister Mahesh Sharma said today. The national carrier is implementing a turnaround plan under which it is to get an equity infusion of Rs 30,231 crore up to 2021 subject to achieving certain milestones as laid out in the plan. “The operating losses of Air India have consistently reduced and 2014-15, the same stood at Rs 2,636.19 crore as compared to Rs 5,138.69 crore in 2011-12,” Sharma, who is the Minister of State for Civil Aviation, said in a written reply to Rajya Sabha. For the first time since merger of Air India and Indian Airlines in 2007-08, “Air India is expected to earn a modest operating profit during 2015-16”, he noted. To a query on whether it is a fact that the government is planning to constitute a committee to look into the possibility of disinvesting 49 per cent stake in Air India, Sharma replied in the negative. In a separate reply, Sharma said Air India shelled out Rs 18.46 crore towards advertisement and publicity in 2014-15 fiscal. During the same period, the expenditure on passenger amenities stood at Rs 722.54 crore. Leonard Fournette Authentic Jersey
FDI up 44% since June 2014: Commerce minister
Foreign direct investment (FDI) in the country grew by 44 per cent to $63.16 billion during June 2014 to February 2016 period, Parliament was informed on Monday. “Due to the continuous reforms and initiatives being undertaken by the government, the FDI equity inflow has recorded a growth of 44 per cent in its 21 months tenure (June 2014 to February 2016),” Commerce and Industry minister Nirmala Sitharaman said in a written reply to the Lok Sabha. She said that FDI has increased from $43.87 billion to $63.16 billion during June 2014 to February 2016 as compared to the preceding period of 21 months (September 2012 to May 2014). She said to boost the entire investment environment and to bring in foreign investments in the country, the government has brought in FDI related reforms and liberalisation touching upon 15 major sectors of the economy by putting more and more FDI proposals under automatic route. Government has relaxed the norms in sectors like railway, medical devices, construction and defence. Justin Blackmon Womens Jersey
Boeing awards 777X titanium forgings contract to Bharat Forge
Jetliner maker Boeing has announced that it is awarding a contract for titanium forgings for the 777X to the Pune-based forgings maker Bharat Forge (BFL). The forgings will be developed and manufactured by BFL using a closed die forgings process, Bharat Forge said in a statement to the BSE. The first two forgings are scheduled to be shipped to Boeing in late 2016 and will be followed by two more forgings in early 2017. Earlier this year, Bharat Forge began supplying titanium forged flap tracks for the Boeing Next Generation 737. It will also supply forgings for the 737 MAX scheduled to enter service in 2017. “We are pleased to expand our partnership with Bharat Forge. They have demonstrated not only a high level of technical expertise, but also an understanding of the need to meet market requirements for affordability,” Pratyush Kumar, President, Boeing India, said. Subodh Tandale, executive director, BFL, added, “We are well versed in the stringent process requirements for titanium forgings and have mastered the process. We will be supplying critical wing components for one of the most advanced Boeing aircraft.” LeGarrette Blount Authentic Jersey
ONGC’s PAT to take Rs 3,000 cr hit on falling gas price
State-run Oil and Natural Gas Corporation is likely to take a hit of around R3,000 crore on its profit after tax (PAT) in FY17 owing to the 20% reduction in domestic gas price for the April-September 2016 period, reports Siddhartha P Saikia in New Delhi. This is despite the company expecting a rise in its gas output by at least 2 billion cubic metres or 9% in the current fiscal year. AK Srinivasan, director (finance), told that when gas price drops by $1, the company’s top line would reduce by R4,353 crore and bottom line by R3,917 crore. The domestic natural gas price has dropped 20% to $3.06 pre million British thermal units (mBtu) for April-September 2016 against $3.82 per mBtu in the previous six months (October 2015-March 2016). The price of domestic natural gas is currently decided based on a formula approved by the Modi government in October 2014, which is linked to select global indices. To add to ONGC’s worries, its natural gas output has been falling for the past three years in a row (see chart). The government-owned firm is expected to see a substantial rise in natural gas output after completion of its two prolific projects — Daman and KG-98/2 on the east coast. Despite zero subsidy burden, upstream earnings look set to remain challenged due to weak net realisations at $34 per barrel, down 37% year-on-year, leading to a sequential decline in earnings, Morgan Stanley said in a April 7 note. In Q4FY16, the global financial services firm estimates ONGC to report Ebitda (earnings before interest, taxes, depreciation and amortisation) of `8,000 crore, down 27% year-on-year, while PAT is likely at `2,820 crore, which is a 28% drop on a year-on-year basis. ONGC maintains that it could have also produced natural gas at the same rate as last year had some unavoidable circumstances not come its way. Several reasons have been cited for a drop in gas production including a fire at a GAIL (India) pipeline last year in East Godavari district of Andhra Pradesh, which led to the shutting down of the east coast gas fields for more than four months. Also, ONGC has to undertake safety repairs of a 42-inch gas pipeline at Hazira, do a maintenance shutdown at its Bassein field and come to terms with a natural decline from existing fields. Russell Okung Womens Jersey
Airlines asked to help flyers fill up customs form onboard
All airlines operating flights from international destinations to India have been asked to help flyers bringing dutiable goods fill up customs form onboard. The move, customs officials say, will check delay in payment of duty by such passengers and help in zeroing in on smugglers. As per rules, which came into effect from this month, incoming passengers not carrying dutiable goods will not have to fill up customs declaration form. Earlier all passengers coming to India were to fill up these declarations. “We have asked airlines to help passengers in filling up customs form onboard. They have been asked to make flyers aware that those carrying dutiable goods have to fill up the form,” said Vinayak Azaad, Additional Commissioner of customs at Indira Gandhi International Airport here. He said this will reduce the paper work customs department had to do earlier. “There will be comparatively less number of customs forms for analysis by the officers. It will also ensure effective enforcement of customs law and to check any possible evaders,” he told . Finance Minister Arun Jaitley, while presenting the Budget for 2016-17, had announced new customs measures. Following which the monetary limit for Indian passengers coming from any foreign destination, excluding Nepal, Bhutan and Myanmar, was increased from Rs 45,000 to Rs 50,000. The duty free allowance for people coming from Nepal, Bhutan and Myanmar has been increased more than two times to Rs 15,000 from Rs 6,000 with effect from April 1. Passengers from China can no longer bring goods duty free into India. Earlier they were able to bring duty free goods of Rs 6,000. The increase in allowance is applicable for journey by air. Those coming to India from land borders will not be able to get any amount of free allowance, as per the new rules. The duty free allowance for foreigners has also been increased to Rs 15,000 from the earlier limit of Rs 8,000. Mark Sanchez Womens Jersey