NHAI gets Cabinet nod to set up Infrastructure Investment TrustUnder InvIT, highway projects will be bundled to form a special purpose vehicle (SPV) to be offered to investors. The SPV would then be traded on the stock exchanges, and returns will be linked to the InvIT’s performance in the capital market. InvIT as an instrument provides greater flexibility to investors and is expected to create specialized O&M.- French rolling stock manufacturer Alstom achieves around 80% localisation in India“We are massively investing to be present in India and we would like to be treated as 100% Indian company,” Alain Spohr, managing director-India and South Asia for Alstom told ET in an interview. He said the company has invested ‘hundreds of millions of euros’ in India, though he did not reveal the actual figure.
- Slowdown only cyclical, India's growth potential not lost: Chief Economic AdvisorSubramanian said that there was, needless to say, a slowdown in the economy but it needs to be assessed whether it was structural or cyclical in nature. India’s GDP growth in Q1 of the current financial year, fell to a 6-year low of 5%, while Q2 slowed down further to 4.5%. The Reserve Bank of India has also lowered its GDP forecast for 2019-20 from 6.1% to 5%.
- While trade war between US & China escalated, couldn't have waited to slash corporate tax: Nirmala SitharamanFM Sitharaman had in September announced corporate tax rate cut from an effective 35% (including surcharges and cesses) to an effective 25.17% while the rate for new manufacturing companies reduced to 15% from 25%.
- Social obligation costs should be excluded from Operating Ratio to reflect true picture of Railways' finances: Piyush GoyalThe Indian Railways recorded its worst operating ratio in 10 years in 2017-18 at 98.44 per cent, the Comptroller and Auditor General (CAG) said in a report tabled in Parliament on Monday.
- Railways signs MoU with DFID for cooperation in field of energy efficiencyAs part of its obligations & commitment to reduce carbon footprints, Indian Railways is taking several initiatives in the field of Green Energy to achieve the same.
- Roads to be Audited to identify Black Spots, assess cause of accidents: Nitin GadkariRoad accidents in India claimed over 1.5 lakh lives in 2018, a recent report by the transport ministry revealed. India ranks 1st in the number of road accident deaths across the 199 countries reported in the World Road Statistics, 2018, followed by China and the US. As per WHO, India accounts for almost 11% of the accident related deaths in the world.
- An off-and-on scourge for India's infra sector is now becoming seriousMaha just joined Andhra in the list of states where political whim is about to set progress back by years.
- Scrappage policy: No direct sops for junking old cars“The Central government will not offer any direct incentives in the policy or any tax sops, as was being talked about earlier,” an official told ET. “State governments will be free to offer rebates on road tax against a scrapping certificate. Even original equipment manufacturers can allow a discount against a scrapping certificate if they want to boost their sales.”
- Deadline for FASTag deferredThe government wants to give additional time for vehicle owners to switch to FASTags, senior officials aware of the development told ET. . Vehicles without FASTags entering the ETC lane will have to incur twice the toll fee December 15 onwards, NHAI said.
- In talks with SBI to jointly run e-commerce portal for MSMEs: Nitin GadkariMSME Minister Nitin Gadkari on Thursday said that he is to meet SBI Chairman next month to discuss whether the bank can jointly run an e-commerce portal called Bharat Craft, meant for taking Indian MSMEs to the global platform. “For the first time, after our govt came to power, we are readying a portal called Bharat Craft,” Gadkari said
- Highways ministry lines up projects worth Rs 50,000 crore to be awarded in next 3 monthsThe highways ministry was planning to award road construction projects worth over Rs 500,000 crores over the next three months to boost demand in the construction and automobile sector, Gadkari had said. National Highway projects with a cumulative length of 5,493 km were awarded in 2018-19, Gadkari said.
- EESL plans to issue tender for e-luxury cars in JanuaryBoth Ola and Uber declined comment on the development. The tender is likely to be floated in January 2020, around the time when foreign automakers such as BMW are expected to launch their electric cars in India. Currently, Hyundai's Kona is the only car present in the premium electric car segment.
- Piyush Goyal calls for CCTV surveillance at Railway stations, trains, for passenger safetyThe Minister of Railways said surveillance by RailTel Corporation would ensure better safety of passengers, and improve efficiency of the national transporter
- Legislation for stringent ship recycling norms this session: Mansukh MandaviyaThe proposed legislation seeks to set up a monitoring body to ensure that recycling centres are in compliance with the Hong Kong Convention. It will be set up under the chairmanship of the director-general of shipping, he said, adding that India had already done lot of work towards raising standards followed at the ship-breaking yards.
- NHAI plans TOT rejig to woo small companiesAccording to the earlier model approved by the government in 2016, NHAI could monetise publicly funded highways by offering investors toll collection rights for 30 years for a lumpsum amount. “With this flexibility, we now get a larger pool of road stretches to choose from,” a senior government official told ET.
- NHAI is now giving FASTags free of cost to encourage switch to e-tollingThe road transport and highways ministry had earlier this year announced December 1 as the deadline to switch all toll lanes across national highways in the country to electronic toll collection (ETC). “NHAI has set up point of sale (PoS) on several toll plazas across the country, and they are giving out FASTags free of cost,” Nitin Gadkari said.
- Over 38 lakh traffic violation cases booked in last 2 months, Nitin Gadkari informs the ParliamentAs per information available in the database of National Informatics Centre (NIC), 38,39,406 traffic challans in 18 states were issued since September 1, when certain provisions of the new motor vehicles act came into effect. The total Challans have been booked for Rs 5,77,51,79,895 crore, Union minister Nitin Gadkari informed the Parliament.
- Cube Highways wins TOT project with Rs 5,011 cr bidFinancial bids for the third bundle of toll-operate-transfer(TOT) auctions were opened on Wednesday. TOT was introduced in 2016 to monetise publicly-funded highways. Under the model, investors make a one-time payment in return for long-term toll collection rights.
- India accedes to Honk Kong convention for ship recyclingThe International Maritime Organisation (IMO) adopted the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships in 2009, which is aimed at ensuring that ships being recycled after reaching the end of their operational lives do not pose any unnecessary risks to human health, safety and to the environment.
- Cabinet makes key changes to TOT framework, allows NHAI to raise funds against toll revenueAmong key changes, the NHAI has been allowed to vary the concession period of toll projects between 15 to 30 years. TOT was introduced in 2016 to monetise publicly funded highways. Under the model, investors make a one-time lump sum payment in return for long-term toll collection rights of 30 years.
- Vehicles without FASTags will have to pay twice the toll fee from December 1stThe govt is moving swiftly on the deadline for the plan that seeks to make road travel seamless nationwide.
- Road accidents claimed over 1.5 lakh lives in 2018, over-speeding major killerIndia ranks 1st in the number of road accident deaths across the 199 countries reported in the World Road Statistics, 2018 followed by China and US. As per the WHO Global Report on Road Safety 2018, India accounts for almost 11% of the accident related deaths in the World.
- Just 3 companies show up for NHAI's toll-operate-transfer-3 auctionsNHAI had in June this year invited bids for the third bundle of toll-operate-transfer auctions, looking to raise a minimum of Rs 4,995 crore. While the names of the companies that have submitted bids due on Monday are not yet known, officials said leading infrastructure players such as Adani, Cube Highways, IRB Infrastructure and L&T could be among the bidders.
- Alstom-Railways JV struggles to meet locomotive targetThe Electric Locomotive Factory at Madhepura in Bihar was one of the two major locomotive projects awarded in 2015 as part of the Make in India initiative, the second being a joint venture with GE. The Rs 20,000 crore Madhepura project was tasked with manufacturing 800 high-powered locomotives in 11years. The JV is the largest FDI in the railway sector.
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