Power tariff to be cut by half if Cong forms govt in UP
Congress’ chief ministerial candidate in the 2017 Uttar Pradesh Assembly election Sheila Dixit has said farmers’ loans will be waived and power tariff will be cut by “half” if her party forms the government in the state. Addressing the gathering at the reception ceremony of the party’s ’27 saal, UP behaal’ campaign at Ashoka Palace in Rampur Maniharan here in the district, she blamed the SP, BSP and BJP for the “backwardness” of the state. The former Delhi chief minister claimed that the state lagged behind during the 27 years of non-Congress rule. “The roads as well as the law and order situation of the state are in a pathetic condition. The education system is shattered. There is no safety for anyone here. “The sugar mills are being closed down. The farmers do not get paid. That is why Congress vice-president Rahul Gandhi has said if the party comes to power, farmers’ loans will be waived, the power tariff will be decreased by half and the farmers will be paid more,” she said. Dixit said due to lack of employment opportunities, the youth of the state was migrating to big cities such as Delhi, Mumbai, Kolkata as well as to other states. Referring to the recent “feud” in Mulayam Singh Yadav’s family, she claimed that the SP stood “exposed”. “It (the feud) shows that they (the Yadavs) are worried about their family and not the state,” she alleged. Speaking on the occasion, Congress general secretary Ghulam Nabi Azad alleged that ever since the SP, BSP and BJP started ruling the state, they created divisions in the society.
Availability and affordability of power is a key enabler to meet SDGs: Minister Piyush Goyal
Electricity is key to achieving the Sustainable Development Goals (SDGs). India is a power surplus country and can generate 50 percent more power in relation to current production. Government of India is working on addressing last mile connectivity, stated Mr Piyush Goyal, Minister of State (I/C) for Power, Coal, New & Renewable Energy and Mines, Government of India. Mr Goyal stressed India’s commitment to its Intended Nationally Determined Contributions (INDCs) and to sustainable development and SDGs. He announced that the Government would shortly come up with a mandate for thermal power plants to utilize processed wastewater from a radius of 50 km and replace the fresh water utilization by treated wastewater. He added that India is the only country which taxes carbon. Clean coal cess has been substantially increasing over past few years. Now it is time for the world to start looking at the consumption in terms of carbon footprint rather just exporting the pollution to other parts of the world. India is only contributing to 4 percent of the global GHG emissions while supporting 17 percent of world population, he noted, adding that the world must recognize the principle of ‘polluter pays’. Mr. Yuri Afanasiev, UN Resident Coordinator & UNDP Resident Representative in India, said that given the size and complexity of social problems in India, the solutions to global challenges would be developed here over the next 10-15 years. India has come out with innovative solutions for developmental challenges like creation of 175 GW of renewable energy capacities, fulfilling Swachh Bharat targets etc. He stressed that the financial gap for meeting developmental goals can only be fulfilled by the private sector through sustainable and moderately profitable business models. In the last few years, there have been great efforts, both at the global level as well as in India, to encourage industries to move towards sustainable business models, said Mr. Ajay S Shriram, Past President, CII and Chairman & Senior Managing Director, DCM Shriram Limited. Mr Shriram lauded the government’s efforts in increasing the share of renewable energy and mentioned that Indian industry has given green energy commitments of over 200,000 MW. He added that hydropower which has been an important source of energy in total energy portfolio should have faster environmental clearances particularly for small and micro hydropower projects. Mr. Sanjiv Puri, Chief Operating Officer, ITC Limited, said that India’s INDCs have targeted lowering the carbon emission intensity to 33 to 35 percent by 2030 and proactive steps are required for energy security. Mr Puri mentioned the efforts of ITC to become water positive, carbon positive and positive on waste recycling. Mr. S. Raghupathy, Deputy Director General, CII, said that CII through Indian Green Building Council has been able to achieve 3.9 billion sq feet of green building. Payback period of adoption of energy efficient technologies has come down to 4-5 years. John Stallworth Authentic Jersey
India saved 55.7 million units of energy through UJALA
The ministry of power’s initiative Unnat Jyoti by Affordable LEDs for All (UJALA), has already resulted in 55.7 million units of energy savings and has reduced carbon emissions over 45,000 tonnes. UJALA has benefitted more than 5 crore citizens across 18 states and 4 union territories. This has been possible only through robust distribution and awareness mechanisms. The government has also ensured that awareness of its UJALA programme reaches every beneficiary, irrespective of their social and economic background. Nevertheless, there are four states where the scheme has not taken off owing to necessary state government approvals. The government is engaging with the respective state governments and ensuring that the scheme is rolled out soon. The ministry of power, along with the state information departments, distribution companies and several other partners have ensured that the common man is made aware of the scheme through various platforms and in respective local language of the state. In every state where the scheme is functional – traditional media such as television, radio and newspapers; out of home media such as hoardings, communication vans, posters and digital platforms such as website, social media, mobile app and microsite have been used to spread awareness about distribution of these bulbs In order to make sure the scheme takes off the power ministry has developed and has actively promoted a dashboard, which provides real-time update of number of bulbs distributed in cities, towns, villages the scheme is presently operational. Also, each distribution centre is geo-tagged for consumers to ascertain its exact location. The dashboard can be viewed at www.ujala.gov.in or downloaded from Google or Apple store. It details all the publicity material released by the government. In fact, the government actively directs consumers to UJALA website for queries received on Twitter and Facebook about the location of distribution kiosks. The Ministry has also urged consumers to visit the dashboard and identify the location of the nearest distribution centre along with lodging complaints to the ministry on any challenges faced, including faulty bulbs. Haason Reddick Jersey
BP looking to sell 8.5% stake in Castrol India
BP is looking to sell 8.5% stake in Indian subsidiary Castrol India through a block deal worth Rs1,750 crore on Tuesday. The share sale is happening at an indicative range of Rs 408 – Rs 422.50 per share, a discount of up to 3.5% to Castrol’s Monday closing price. Shares of Castrol India declined 4.5% to Rs 422.45 on Monday. In May UK’s BP sold 11.5% stake in the lubricant maker to reduce its holding in the company from 70.92% to 59.42% for about Rs 2072 crore. Shares of Castrol have declined 5% so far this year as against 9.5% rise in Sensex. Early this year, BP reported its record annual loss of $ 6.5 billion and revealed it is cutting thousands of jobs in an attempt to cope with the oil price slump. BP’s business has also been dealing with the fall-out from the 2010 Gulf of Mexico disaster. For the quarter ended June 2016, Castrol reported a 12% jump in net profit to Rs 207 crore over the same period last year. In May, Castrol said that BP has undertaken a strategic portfolio review to optimise the deployment of capital across different businesses. “BP believes this option is a good opportunity to release capital while maintaining its commitment to our lubricant business in India and continuing to have strategic control of Castrol India,” it said. Ken Crawley Womens Jersey
One in three applicants for a pilot job with Air India failed the psychological health test introduced after the Germanwings aircrash
A third of shortlisted candidates applying to be pilots with India’s leading airline have failed the test which analyses their psychological health, since December 2015. These applicants to Air India had all previously successfully cleared the simulator and technical exams before failing the psychometric test. Air India sources have revealed that 130 of the 413 candidates had not passed this crucial test which was introduced by the airline in December. The exam was introduced after the co-pilot of a Germanwings flight crashed his plane into the Swiss Alps in March 2015, killing all 150 on board. Evidence shows Andreas Lubitz, 27 locked the captain out of the cockpit of the flight from Barcelona to Duesseldorf, triggered the automatic descent mechanism and deliberately steered the plane into a remote mountainside. An investigation into the incident showed he had been suffering from psychological issues for several years and was plagued by depression and suicidal thoughts. The Directorate General of Civil Aviation (DGCA) – the Indian governmental regulatory body for civil aviation – ordered regular monitoring of pilot’s mental health last year based on recommendations of a committee headed by joint director general Lalit Gupta. However it is unclear whether candidates rejected by Air India went on to find employment with other private carriers. Matthew Lorito Authentic Jersey
Budget carriers refuse to shift from Delhi’s Terminal 1D
The GMR-led Delhi International Airport’s (DIAL) major expansion plan faces a fresh hurdle, as low-cost carriers have opposed the move to shift base from Terminal 1D (T1D) to Terminal 2 (T2), citing operational constraints. SpiceJet and GoAir, asked to shift to T2 from T1D, have opposed the move, citing passenger inconvenience. The no-frills carriers feel this will lead to drop in passenger count. While SpiceJet has sent out a missive to the airport consortium, GoAir has verbally communicated its decision to the airport operator. The resistance might lead to delay in DIAL’s expansion plans, given the private airport operator will have to convince the carriers or find a suitable alternative, before going ahead with the development work. At present, IndiGo, SpiceJet and GoAir are based out of T1D. DIAL had asked SpiceJet and GoAir to shift operations to T2, for it to be able to carry out construction work and airside development at T1D. In a letter to SpiceJet Chairman Ajay Singh, the airport operator had said all amenities will be provided to ensure seamless operation of the airline. “With SpiceJet having international operations, the airport operator had assured smooth transit for its passengers,” said a ministry official. But, SpiceJet officials say the airline had written to the airport operator, opposing the move. Jerry Rice Jersey
What Air India should do to retain its lost glory
Aviation Minister Ashok Gajapati Raju in his inimitable way is attempting to bring back the glory that Air India once commanded. But more interesting is the kinship that Raju, a scion of the royal family of Vizianagram, finds with the airline’s iconic mascot: The Maharaja. Raju, in a nostalgic mood, has been regularly tweeting classic pictures of the Maharaja from times when Air India was in all its glory — the sole Indian airline that was a symbol of the luxuries that only the rich and eminent were able to afford. In the last week of August, Raju tweeted a 1960s promotional poster of the airline done in the style of a Mughal painting. It showed the Maharaja, with his turban and twirly moustache, proudly seated atop an elephant. His entourage includes attendants on foot and horseback, some of them playing Indian musical instruments. The entourage even has two flying peacocks overhead. The caption said: There is an Air about India. The Maharaja was most ingeniously used when the carrier introduced a new route. One of the posters from the “retro Air India” collection, as Raju calls it, shows the Maharaja as a Russian Kalinka dancer when the airline started flying to Moscow. Another shows him speed boat surfing in Australia with the boat replaced by two mermaids. In yet another, the Maharaja is being carried like a prey, hands and feet tied, by two lions in the jungles of Nairobi. Kyle Turris Womens Jersey
Chandigarh airport embarks on global journey
At 5.15pm on Thursday (Sept 15), Chandigarh International Airport actually became international as a flight from Sharjah landed with 128 passengers onboard a 186-seater plane. At 6.35pm, an Air India Express plane carrying 182 passengers to Sharjah departed too, this being the first flight from this airport to a foreign destination. Union civil aviation minister P Ashok Gajapathi Raju said on the occasion that government-owned carrier Air India will start a flight to Singapore by March. Air India chairman Ashwani Lohani added Bangkok to the list. These will be thrice a week. Immediately next up, from September 26, IndiGo airlines will start a daily flight between Chandigarh and Dubai. Wayne Gretzky Womens Jersey
Centre’s 22.5% ethanol in petrol plan causes alarm
The central government’s plan to increase blending of ethanol with petrol to 22.5% from existing 10% is causing alarm among petroleum dealers and also vehicle users. City’s dry and high temperature weather is said to be not suitable for using ethanol blended petrol. TOI on Saturday had highlighted ethanol in petrol converting into water. Vidarbha Petroleum Dealers Association took up the issue with district administration after oil Companies turned a deaf ear to their complaints. City MP and union minister for road transport and highways Nitin Gadkari had announced many times about the Centre’s plan to take ethanol blending in petrol upto 22.5% soon. President of Vidarbha Petroleum Dealers Association Harvinder Singh Bhatia told TOI doing that will create havoc. “Already petroleum dealers and consumers are facing severe problems with ethanol getting converted into water in underground tanks at petrol pumps. Consumers are alleging that petroleum dealers were mixing water in petrol. Almost all dealers are receiving complaints. Centre should drop the plans of increasing ethanol blending in petrol,” he said. Bhatia added that oil companies should not permit ethanol blending with petrol in Vidarbha due to high humidity here. “Ethanol is hygroscopic (attracts moistureand converts into water. High humidity is common in city. Ethanol blending will cause problems not only during rainy season but throughout the year except one or two winter months,” he said. Bhatia also said the petroleum dealers from other parts of the nation too were facing same problems and complaining to the oil companies. One dealer Amit Gupta said oil companies should not sell ethanol blended with petrol unless infrastructure suitable for it was available in the region. “Infrastructure, right from depots, oil tankers, underground storage tanks at pumps to fuel tanks in vehicles, is totally different for ethanol blended fuel. We do not have it right now,” he said. Gupta claimed ethanol damaged existing vehicles running here. “It is highly corrosive and damaged silencer and rubber material used for joints in engines. Parts in existing vehicles cannot sustain blended petrol. We can see silencers in most vehicles getting corroded sooner these days, especially since blending was increased to 10%,” he said. RTI activist and executive member of Akhil Bhartiya Grahak Panchayat, local chapter TH Naidu said it was a serious issue and citizens needed to fight against the Centre’s move. “I will take up the issue with panchayat office bearers. District administration cannot run away from it. It is the responsibility of the district administration to safeguard consumers and prevent loss to them,” he said.
Higher oil prices key for state-run oil producers
Shares of state-run oil producers Oil and Natural Gas Corp. Ltd (ONGC) and Oil India Ltd (OIL) have risen about 5-6% year-to-date. That falls short of an about 10% increase seen in the benchmark Sensex. Lower crude oil and gas prices, along with unexciting production trends, have kept sentiments low for these stocks. According to some analysts, things may soon get better. Spark Capital Advisors (India) Pvt. Ltd pointed out in a report on ONGC recently that crude oil prices are likely to head towards $60 a barrel over the next 12-18 months, led by ongoing capex (capital expenditure) and production cuts across the E&P (exploration and production) industry, a potential supply freeze by members of the Organization of the Petroleum Exporting Countries over the next 12 months, likely narrowing of excess supplies and stabilization of prices from the latter half of the current fiscal year. Needless to say, higher oil prices are key for investor sentiment to revive in these stocks. The recently announced June quarter results of these companies reflect the impact of lower crude oil prices. Net price realizations of both companies declined year-on-year. ONGC and OIL’s net realizations declined 22% and 25% to $46.1 a barrel and $43.09 a barrel, respectively. But that was on expected lines. The measure was higher sequentially, helped by a recovery in broader crude oil prices after touching lows earlier in 2016. As expected, the drop in realization led to a drop in profits. ONGC’s Ebitda (earnings before interest, tax, depreciation and amortization) declined 23% to Rs 93.90 billion. This excludes exploration costs that were written off. Again, ONGC’s Ebitda was above some analysts’ estimates owing to lower-than-expected other expenses. OIL’s Ebitda declined 29% to Rs 8.63 billion. On the flip side, production performance is far from encouraging. ONGC’s crude oil production declined 2% year-on-year and was flat compared to the March quarter. OIL’s crude oil production declined 4.6% over last year’s June quarter but was 2.8% higher than the March quarter. To be sure, ONGC subsidiary ONGC Videsh Ltd’s (OVL’s) production increased 12% year-on-year but that includes volumes from its stake purchase in Vankor (JSC Vankorneft), Russia. Of course, higher production from Vankor should help to some extent. For fiscal year 2016, OVL reported a net loss of Rs 20.94 billion against a net profit of Rs 19.04 billion in FY15, as low crude oil prices caused tremendous grief. ONGC and OIL both currently trade at about 12 times their estimated earnings for this fiscal year. Even as valuations appear undemanding, as mentioned earlier, higher oil prices are essential for improving sentiments for both stocks. Improving production will be a bonus. Dan Hampton Authentic Jersey