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Home , Hasmukh Adhia

Issue 273

WEEKLY MEDIA UPDATE 26 December, 2016 Monday

(This document comprises news clips from various media in which Balmer Lawrie is mentioned, news related to GOI and PSEs, and news from the verticals that we do business in. This will be uploaded on intranet and website every Monday.)

India Overtakes Britain As The World's to clock gross value added Sixth Largest Economy growth of 6.6% this fiscal: ICRA

India's economy has reportedly overtaken the India’s gross value added growth is likely to be United Kingdom's for the first time in over 100 at 6.6 per cent in 2016-17 as economic activity years, now standing as the world's sixth largest will take more time to normalise following the economy by GDP after the United States, China, government’s move to demonetise high-value Japan, Germany, and France. The milestone is a notes, rating agency ICRA has said. “Although symbol of India's rapid economic growth and, currency liquidity is likely to improve conversely, the U.K.'s post-Brexit slump. significantly by the end of January 2017, Economically, it's been a banner year for India. In economic activity may take longer to February, it surpassed China as the world's fastest normalise, based on which we have revised our growing economy. And in October, the forecast for GVA growth in 2016-17 to 6.6 per International Monetary Fund predicted India would cent,” the domestic rating agency said. It said retain that title for the foreseeable future; its GDP the pace of revival of economic activity in the is projected to increase by 7.6 percent through fourth quarter is likely to take a cue from how 2017. "India may have a large population base but quickly currency in circulation gets replenished this is a big leap," Kiren Rijiju, India's minister of and digital transactions become more state for home affairs, said of the news earlier this widespread. Between November 10 and week. India's former colonial ruler, the United December 19, banknotes of ₹5.9 lakh crore Kingdom, is projected to grow by only 1.8 percent were issued to the public through the banking in 2016 and 1.1 percent in 2017. Since it voted to system, as indicated by the Reserve Bank, leave the European Union in June, which could equivalent to 38 per cent of the value of entail leaving the EU's lucrative common market, currency that ceased to be legal tender. “The Britain's economy and currency has struggled. loss of income in some sectors and deferral of India's economy benefitted from a global consumption are likely to weigh on capacity commodities price slump through large trade utilisation in the second half of 2016-17, gains and lower-than-expected inflation, delaying capacity expansion plans,” the report according to the IMF. said. NDTV - 21.12.2016 - 26.12.2016 http://www.ndtv.com/india-news/india- http://www.thehindubusinessline.com/econo overtakes-britain-as-the-worlds-sixth-largest- my/india-to-clock-gross-value-added-growth- economy-1640157 of-66-this-fiscal-icra/article9443552.ece

How Moody's left govt moody Export sops on menu

India pushed aggressively for a Moody's ratings Apex export advisory body Board of Trade will upgrade, documents reviewed by Reuters show, meet next month to discuss ways to boost but the US-based agency declined to budge citing exports, which have of late shown a rising concerns over the country's debt levels and fragile trend even as concerns over demonetisation banks. Winning a better credit rating on India's grow. Commerce and industry minister sovereign debt would have been a much-needed will chair the meeting of endorsement of Prime Minister Narendra Modi's the 70- member board. It will be the second economic stewardship. Since storming to power in meeting of the reconstituted board of trade 2014, Modi has unveiled measures to boost (BoT), an official said. The meeting assumes investment, cool inflation and narrow the fiscal significance as exports have started to show and current account deficits but his policies have growth since September. It grew 2.29 per cent not been rewarded with a ratings upgrade from in November. The official said issues such as any of the "big three" global ratings agencies, who the impact of demonetisation on exporters say more is needed. Previously unpublished would figure in the meeting. The objective of correspondence between India's finance ministry the BoT is to have continuous discussion and and Moody's shows New Delhi failed to assuage consultation with trade and industry. The BoT the ratings agency's concerns about the cost of its advises the government on policy measures debt burden and a banking sector weighed down relating to foreign trade. The board's last by $136 billion in bad loans. In letters and emails meeting was held in April when the commerce written in October, the finance ministry questioned ministry had said it would focus on six areas, Moody's methodology, saying it was not including the revival of special economic zones accounting for a steady decline in India's debt (SEZs) and according priority sector status to burden in recent years. export credit. - 24.12.2016 The Telegraph - 21.12.2016 https://www.telegraphindia.com/1161224/jsp/fro http://epaper.telegraphindia.com/detail/2321 ntpage/story_126569.jsp#.WGD2KPB97IU 26-17653699.html

India may not meet 2020 export target; PSUs aren't shying from capex spends policy review ahead despite negative cash flows

The government is set to review its ambitious plan State-run enterprises aren’t shying away from to achieve goods and services exports of $900 capex spends despite negative cash flows billion by 2020 as it becomes evident that the during FY16. Several PSUs are using profits target is likely to be missed, given the current made in FY17 so far to add capacities hoping global scenario. The government had set the to reduce the deficit-borrowing gap, according ambitious target last year for goods and services to a Financial Express report. Steel major SAIL exports, which were about $421billion in 2014-15. which has had negative cash flows over past “The exports target looks difficult to meet. I can’t three years is on route to complete its Rs say what the new target will be at this point of 4,000-crore capex programme and has spent time, but we will do a mid-year review of the about Rs 2,300 crore in the first six months. foreign trade policy soon,” said a senior commerce Similarly, NTPC has pumped in close to Rs ministry official. The review, aimed at taking 13,400 crore between April and September, corrective steps by assessing the impact of export nearly 50 percent of its planned expenditure sops on various sectors, will begin soon. “Looking for the year. The power producer hasn’t held at the global challenges, $900 billion is completely back on capacity expansion despite three years ruled out. In fact, whether we can reach $750 of subdued cash flows. Smaller PSUs like billion exports is also a question,” said another Container Corporation of India look too official privy to the details. However, no decision headed to meet their capex targets for FY17. has been taken on revising the existing target or CMD V Kalyana Rama is confident his firm will setting a new one. achieve the capex plan of Rs 1,150 crore. - 23.12.2016 Moneycontrol - 20.12.2016 http://economictimes.indiatimes.com/news/econ http://www.moneycontrol.com/news/business omy/foreign-trade/india-may-not-meet-2020- /psus-arent-shyingcapex-spends-despite- export-target-policy-review- negative-cash- ahead/articleshow/56128973.cms flows_8131801.html?utm_source=ref_article

Government formulating National Policy payment app set to simplify for Advanced Manufacturing digital transactions

Government is formulating a National Policy for The government is coming up with an 'Aadhaar Advanced Manufacturing as one of the key tools to Payment App' that could silence digital attain its objective of increasing the contribution payments critics. The new app would do away of manufacturing output to 25 per cent of GDP by with plastic cards and the point of sale 2025 from 16 per cent at present. The National machines once believed to be essential for a Policy for Advanced Manufacturing also aims to less cash society. The app, to be launched on significantly enhance India's global manufacturing December 25, would also eliminate the fee competitiveness. However, the government is payments for service providers like card mindful of the "threat to jobs" due to adoption of companies such as Mastercard or Visa, which smart manufacturing. "There are a lot of concerns, has been a stumbling block in merchants lot of opportunities, there are also threats switching to digital payments making it particularly on jobs so how to make our policies, affordable to even merchants in remote how to tailor our industry, how to get ready for villages, said people familiar with the this in a manner that the transition is seamless development. All that it needs is an Android and our people are skilled enough, may be to phone with the merchant. Merchants need to relocate to other areas," DIPP Secretary Ramesh download the Aadhaar cashless merchant app Abhishek said. He was addressing a meeting to on their smartphones connected to a biometric seek stakeholders' inputs on the policy. The reader, which is currently available for Rs meeting, chaired by Department of Heavy 2,000. The customer will then feed his or her Industry Secretary Girish Shankar, also discussed Aadhar number into the app, select the bank the framework for introduction of 'Industry 4.0'. through which the transaction will take place, The Economic Times - 22.12.2016 and the biometric scan will work as a password http://economictimes.indiatimes.com/news/econ for the transaction to be authenticated. omy/policy/government-formulating-national- The Economic Times - 24.12.2016 policy-for-advanced- http://economictimes.indiatimes.com/news/e manufacturing/articleshow/56124416.cms conomy/policy/aadhaar-payment-app-set-to- simplify-digital- transactions/articleshow/56148959.cms

Govt clears ordinance, companies can Oil and Gas companies to turn cash now pay salary via e-mode, cheques flow positive in 2017, says Wood Mackenzie The Centre today decided to bring in an ordinance to amend the Payment of Wages Act for allowing International analyst firm Wood Mackenzie’ business and industrial establishments to pay global corporate outlook for 2017 forecasts the salaries through cheques or electronically. “The oil and gas industry to turn cash flow positive Union Cabinet today approved the ordinance route for the first time since the downturn, if OPEC to amend the Payment of Wages Act, 1936, to production cuts drive oil prices above $55 per allow employers of certain industries to make barrel. Tom Ellacott, senior vice president of payment through the electronic mode and corporate analysis research at Wood cheques,” a source said. Employers will also have Mackenzie, said: "Most oil and gas companies the option to pay wages in cash, the source added. will start 2017 on a firmer footing, having As per practice, the government introduces halved cash flow break evens to survive the ordinance to amend laws for immediate past two years. Further evidence of a cautious, implementation of new rules. An ordinance is valid U-shaped recovery in investment should for six months only. The government is required emerge.” In 2017, according to the firm, to get it passed in Parliament within that period. strengthening finances will still be a top priority The Payment of Wages (Amendment) Bill, 2016, for oil companies. Capital discipline, cost seeks to amend Section 6 of the principal Act to reduction and deleveraging will frame enable employers to pay wages to employees corporate strategies in 2017. But 2016 will through cheques or by crediting it to their bank prove to be the low point in the investment accounts electronically. The Bill was introduced by cycle, with confidence boosted by OPEC’s Labour Minister Bandaru Dattatreya amid din over decision to cut production. the demonetisation issue. The Economic Times - 20.12.2016 - 21.12.2016 http://energy.economictimes.indiatimes.com/ http://indianexpress.com/article/india/govt- news/oil-and-gas/oil-and-gas-companies-to- clears-ordinance-to-let-companiess-pay-salary- turn-cash-flow-positive-in-2017-says-wood- via-e-mode-cheque-4438529/ mackenzie/56068569

With oil prices rising again, Time ripe for LPG subsidy:I-T to inform Oil Min on domestic shale taxpayers earning over Rs 10L

With oil prices rising again, India is set to start he will soon begin bearing the burden of importing costlier oil. This, sharing personal data--like PAN, residential say experts, is why the time is ripe for taking address and mobile number--of a taxpayer domestic shale oil exploration and production earning over Rs 10 lakh per annum with the Oil more seriously. Even though there have been Ministry as part of government's initiative to severe protests, ONGC and Oil India Limited are effectively block subsidised cooking gas to already undertaking assessments in 56 regions for higher income groups. As part of the official shale gas and oil. “To exploit shale gas and oil, the deal between the two government government on October 14, 2013 announced departments, the taxman will also share the policy guidelines for Exploration and Exploitation date of birth, gender, email id, residential of Shale Gas and Oil by National Oil Companies... phone number and all available addresses of In pursuance of this Policy, under the first phase the taxpayer in its database so that the of assessment, ONGC has identified and initiated Petroleum and Oil Ministry could zero down on shale gas and oil exploration activities in 50 areas; each LPG subscriber who is availing the subsidy and OIL has identified and initiated shale gas beyond the stipulated rules and has not exploration activities in 6 areas,” said Minister for voluntarily given it up. The I-T department will Petroleum and Natural Gas Dharmendra Pradhan soon sign a Memorandum of Understanding in Lok Sabha. So far, ONGC has drilled 20 (MoU) with the Oil Ministry in order to begin assessment wells for shale gas and oil. OIL has this transfer of personal taxpayer data, in a completed geological and geophysical studies and "confidential and safe" manner. The geochemical analysis in its identified areas. department, till now, used to share such New Indian Express - 20.12.2016 proprietary data with Law Enforcement http://www.newindianexpress.com/business/201 Agencies (LEA) like police, CBI, ED and others 6/dec/20/with-oil-prices-rising-again-time-ripe- with a rider that they should not share this for-domestic-shale-1551005.html information with anyone else and use it for their investigation purposes only. Deccan Chronicle - 20.12.2016 http://www.deccanherald.com/content/58754 6/lpg-subsidyi-t-inform-oil.html

India's crude oil production declines Essar Oil to double its petrol pumps to 5.4% in November 2016 5,600 in 18 months

Crude oil output falls 3.5% in April-November Ruia brothers-led Essar Oil plans to double the 2016. India's crude oil production declined 5.4% number of its petrol pumps in the country to to 2.88 million tonnes (mt) in November 2016 5,600 in the next 18 months, the company said over November 2015, recording fall for ninth on Thursday. Essar Oil "has the largest private straight month. Crude oil output of ONGC fell 0.7% sector retail fuel network in India with over to 1.82 mt, while that of private and joint venture 2,800 operational outlets across the length and (JV) companies dipped 16.5% to 0.78 mt. breadth of the country and over 2,800 at However, the crude oil production of Oil India various stages of implementation to capitalise improved 1.7% to 0.27 mt in November 2016. on the rising demand of transportation fuel", ONGC's offshore output declined 1.9% to 1.33 mt, the company said in its latest annual report. while onshore production rose 2.4% to 0.49 mt. The company currently has 2,823 operational Crude oil output fell 3.5% to 23.99 mt in April- petrol pump and will add another 2,800 pumps November period of the fiscal year ending March in 12 to 18 months, said CEO L.K.Gupta, 2017 (April-November 2016), in addition to 0.4% adding Essar Oil operationalised 583 pumps fall recorded in the corresponding period of last during 2015-16. "You may recall that Essar Oil year. Output of ONGC eased 1.7% to 14.72 mt, was the first private sector company in India to while that of Oil India declined 1.4% to 2.15 mt open a retail fuel outlet back in 2003. and private companies dipped 7.6% to 7.12 mt in The Economic Times - 22.12.2016 April-November 2016 over April-November 2015. http://economictimes.indiatimes.com/industry - 22.12.2016 /energy/oil-gas/essar-oil-to-double-its-petrol- http://www.business-standard.com/article/news- pumps-to-5600-in-18- cm/india-s-crude-oil-production-declines-5-4-in- months/articleshow/56127933.cms november-2016-116122200720_1.html

Global steel output rises 5% in Production in leather clusters down November by 60% due to demonetisation: Assocham Global crude steel production continues to increase, rising by 5% in November, the highest Trade in major clusters of leather and leather so far in 2016, according to the World Steel products in India has been hit hard by the Association. Since May, steel production has been union government's move of demonetisation, rising continuously, reversing a decline seen in according to Assocham. “There has been early 2016 and all of 2015. Year to date, output is significant decline in arrival of animal hide, up by 0.4%. Negative growth last year also while tanneries in Chennai have recorded more explains some of the higher growth this year. than 60 per cent fall in skin arrival, other major China leads this reversal in output and, in leather clusters - Agra, Kanpur and Kolkata - November, its output growth matched global have recorded more than 75 per cent decline growth. That is important as it contributes to 50% in this regard,” noted the association’s survey- of global steel output in 2016 so far, slightly above cum-analysis titled ‘Impact of demonetisation last year’s level. India, too, has played its part, on leather industry’, which was released on with a 10.7% growth in November and 7.1% in Monday. According to Assocham, the leather the year so far.With output rising, capacity industry is reeling under stress as butchers are utilization should have risen. Now, utilization did not providing animal hide for they are not increase sharply at the start of the year, but being paid in cash, tanneries are not able to peaked in June and has declined since. More get the hide transported as they are not able capacity has been added, partly due to new plants to pay the drivers in cash, moreover shortfall coming on stream, ramping up of existing capacity in coal supply for boilers is also adding to the and, perhaps, restarts of idled capacity. This could industry’s woes. be a warning sign for steel prices. Business Standard - 22.12.2016 - 23.12.2016 http://www.business- http://www.livemint.com/Money/KMhjS6jeAoETN standard.com/content/b2b-manufacturing- 8XR9e8pvK/Global-steel-output-rises-5-in- industry/production-in-leather-clusters-down- November.html by-60-due-to-demonetisation-assocham- 116122200301_1.html

Airlines' Taxes May Soar Under GST Railways revises flexi fare, offers new discounts India's aviation industry may have to bear an additional tax burden of up to `15,000 crore In a move to facilitate last minute passengers annually once the Goods and Services Tax is and ensure trains run on full capacity, railways implemented, top industry executives have told has revised the flexi fare structure in premier the finance ministry. Under the current indirect tax trains by offering 10% rebate on vacant berths regime, the industry has to pay only about `3,600 after finalisation of the reservation charts. The crore every year, according to industry estimates, transporter has also effected reduction in the while it’s annual revenue is pegged at `60,000 tatkal quota in Rajdhani, Duronto, Shatabdi crore. The additional tax burden may push trains. There were 5,871 vacant berths in airlines, most of which have turned profitable, into Rajdhani, Shatabdi and Duronto trains during losses again, coming as it does at a time when September 9-October 31 this year, according global fuel prices are flaring up. In a meeting with to railways. Tatkal quota earmarked in revenue secretary Hasmukh Adhia on Saturday, Rajdhani, Duronto, Shatabdi trains has also the airline executives said the industry will have to been reduced to 10% of the total class-wise bear additional taxes on ticket sales, import of accommodation. There will be a review of aircraft and aircraft parts, lease rentals, and utilisation of Tatkal quota by zonal railways transfer of spares and goods within the country. after a fortnight and based on its utilisation, Among those who attended the meeting were Tatkal quota might be increased up to a members of the Federation of Indian Airlines • maximum of 30% of total class-wise IndiGo CEO Aditya Ghosh, SpiceJet chairman Ajay accommodation in the train. Singh, Jet Airways director-finance Ravichandran - 20.12.2016 Narayan and GoAir general manager-finance http://timesofindia.indiatimes.com/india/railw Joyakesh Podder • along with executives from ays-revises-flexi-fare-offers-new- national carrier Air India. discounts/articleshow/56075191.cms The Economic Times - 20.12.2016 http://epaperbeta.timesofindia.com/Article.aspx? eid=31817&articlexml=Airlines-Taxes-May-Soar- Under-GST-20122016018027

Rail fare hike signal in Jaitley comment 7 non-metros free of handbag tag

Finance minister today said rail Passengers flying out of Guwahati, Patna, passengers must pay for the services they receive, Lucknow, Jaipur, Nagpur, Trivandrum and signalling a possible hike in train fares going Kochi will not have to get the security checked forward. He also spoke about the need to stamp on their cabin bags. This may start from outsource non-core services of the railways. as early as Monday (December 26), said highly Jaitley's remarks come weeks before this year's placed sources. The government took this new-look Union budget, which will include the decision as the week-long pilot project for not annual statement on railway finances. "The first stamping hand bags at Delhi, Mumbai, Kolkata, essential principles of running any establishment, Chennai, and Bengaluru came to an particularly a commercial establishment, are that end on Thursday, said a senior official. The the consumer must pay for the services they Central Industrial Security Force (CISF) will receive," Jaitley said at the National Conference on discontinue the no-stamping at these metro Accounting Reforms in Indian Railways, organised airports, which means flyers from there will by the CII and the railway ministry. At present, again have to get the hand bag tags stamped Indian Railways recovers 57 per cent of its travel • at least for some time. CISF and Bureau of costs on passenger tickets. This means, if it Civil Aviation Security (BCAS) will “analyse the spends Rs 100 on a train journey, it recovers Rs feedback of the pilot project “before deciding 57 from passengers and the rest is subsidised. on extending the same, the official added. Indian Railways faces stiff competition from The Times of India - 23.12.2016 alternative modes of transport such as air and http://epaperbeta.timesofindia.com/Article.as road. px?eid=31812&articlexml=7-non-metros- The Telegraph - 21.12.2016 free-of-handbag-tag-23122016007012 http://www.telegraphindia.com/1161221/jsp/bus iness/story_125849.jsp#.WFoAe_B97IU

Domestic airline passenger growth has After Plans To Charge For Sitting With risen to 23.1 %: Family, Now Airlines Might Charge You For Choosing Your Seat! Depicting the swift growth in civil aviation, Minister of State for Civil Aviation Jayant Sinha, Shell out a little more, even if you want a today, in a post in Twitter shared the domestic middle seat in flights with airlines charging airline passenger growth for calendar year-to- extra for preferred seats as they look to date. Sinha, in his tweet, said that the airlines had increase their ancillary revenues amid stiff flew nearly 90 lakh passengers in the last month. competition. With regulations permitting And the Domestic airline passenger growth had unbundling of various services offered by been 23.1 %. The total number of passengers domestic carriers, choosing a particular seat, carried by domestic airlines from January to especially the window ones and those with November, this year, had been 903.3 lakh in more leg space, comes at extra cost. Charging comparison to the 733.8 lakh passengers carried extra for choice of seats in flights, including the in 2015. While the month-on-month growth is middle ones, is a commonly accepted 22,4 %, number of passengers carried in the international practice and is not something month of November is 89.6 lakh, this year, while new. It also helps in adding to the ancillary the number was 73.2 lakh, in November last year. revenues, aviation industry officials said. In another major relief to airlines and airport Passengers give more preference for window operators, Civil Aviation Ministry has extended the and aisle seats as well as those having extra validity of the regular Aerodrome Entry Passes leg room, they added. A Jet Airways (AEP) by three months to March next year, amid spokesperson said allowing guests to pre- the process of rolling out of biometric access reserve seats for a fee is a prevalent and control system (BACS)at 48 airports in the commonly accepted industry practice by country. almost all major airlines, full service as well as The Financial Express - 22.12.2016 low cost, in the world. http://www.financialexpress.com/india- Indiatimes.com - 26.12.2016 news/domestic-airline-passenger-growth-has- http://www.indiatimes.com/news/india/after- risen-to-23-1-jayant-sinha/483309/ plans-to-charge-for-sitting-with-family-now- airlines-might-charge-you-for-choosing-your- seat-268174.html

Indians now flying cheap with Chinese Price war flares as airlines in India airlines dismiss Opec deal risk

Last summer, when south Delhi-based Ashima Air travellers globally are bracing for higher Jain was looking for a bargain on four return fares after Opec decided last month to cut tickets to Los Angeles, she chanced on China output. Not in India, the world’s fastest- Southern Airlines. "The fare was Rs 58,000 per growing major aviation market. Carriers cut person while the other carriers started at Rs fares in November, selling tickets about 12% 65,000," said the businesswoman. By offering cheaper on average for Mumbai-New Delhi lowest fares on busy travel routes between India, flights from a year ago, according to the Far East, Australia, New Zealand, right up to Yatra.com, India’s No. 2 online travel agency. the West Coast of North America, along with short The steepest discounts were as much as 30% transit stops at their hubs, mainland Chinese for the world’s seventh-busiest local route. The carriers are attracting Indian passengers. "In the slashing of fares during the peak holiday travel past few years we have seen a gradual increase in season threatens to wipe out gains accrued Chinese carriers operating in India," said Indiver from cheap oil and push some of the operators Rastogi, president, Global Business Travel at back to losses. Carriers in China and India are Thomas Cook (India) Limited. "These airlines offer expanding capacity with orders for hundreds of a combination of value-for-money fares and high planes and luring passengers with discounts. quality experience that has attracted the price- Excess capacity combined with tickets offering conscious Indian traveller. These airlines are also base fares as low as 2 cents to first-time fliers popular with corporate travellers who have have constrained the ability of Indian carriers business interests in China or want to use the to translate an increase in passenger traffic to country as a hub to fly onward to the USA," he profits. added. Mint - 20.12.2016 The Times of India - 25.12.2016 http://www.livemint.com/Companies/gftJTkxA http://timesofindia.indiatimes.com/india/indians- RHjlVoo8bTJEZN/Price-war-flares-as-airlines- now-flying-cheap-with-chinese- in-India-dismiss-Opec-deal-risk.html airlines/articleshow/56160849.cms

Government to Airlines: Use Gagan GPS City Fringes See Bullish Warehousing or Face Consequences At a time when the realty space is showing DGCA issued warning during a meeting with tepid activities in Kolkata, the city fringes are stakeholders held earlier this week. The seeing a steady growth with demand for government has warned domestic airlines of warehousing space rising steadily through the `consequences' if they did not adopt the Rs 774 last two years. Manufacturing and retail majors crore GPS-Aided Geo Augmented Navigation have picked up around 10 lakh sq. ft. of system. The warning came during a meeting called warehouse space Long stretches along the by the DGCA earlier this week with all Bombay Road, Sankrail industrial area in stakeholders, including the airlines, who have not Howrah, BT Road, Joka and Diamond Harbour availed of the system even 18 months after its Road have seen brands like Shoppers Stop, launch. Jointly developed by Indian Space Manyavar, Philips and Linc swarming for Research Organisation (ISRO) and Airports warehousing space. “It is the impact of the Authority of India (AAI), at an investment of Rs Eastern Dedicated Freight Corridor project, 774 crore, the GAGAN system was officially “Samantak Das, chief economist and national launched by Civil Aviation Minister Ashok director for research at Knight Frank India, Gajapathi Raju in July last year. It is said to make said, referring to the bullish demand for airline operations more efficient and cut down warehousing space in the city fringes. “Not costs as it reduces separation between aircraft, only is the central government upbeat about increases air safety and fuel efficiency. The the project, with international funding agencies National Civil Aviation Policy, announced by the taking interest in the project, the area around government in June, makes it mandatory for all it has also got an impetus. Companies are aircraft registered in India from January 1, 2019 expressing genuine interest around Kolkata to be GAGAN-enabled. and the demand is only going to go up." Mumbai Mirror - 26.12.2016 The Economic Times - 20.12.2016 http://mumbaimirror.indiatimes.com/mumbai/ot http://epaperbeta.timesofindia.com/index.asp her/government-to-airlines-use-gagan-gps-or- x?eid=31817&dt=20161220# face-consequences/articleshow/56177266.cms

20 rail projects taken up across 8 major Mega port linkage in works ports in 2015-16: IPRCL Indian Port Rail Corporation Limited (IPRCL), in Indian Port Rail Corporation (IPRCL) on Thursday its maiden annual general meeting, announced said that 20 railway projects were taken up across that rail infrastructure expansion and eight major ports in 2015-16. Among the works, modernisation works for Port 11 works with total project cost of Rs 7, 636.15 Trust (JNPT), Kandla Port and Haldia Dock crores were for preparation of Feasibility and Complex (HDC) are likely to begin from April Detailed Project Report (DPR) and nine works with 2017. IPRCL, a joint venture between major total project cost of Rs 643.77 crores were for ports and Rail Vikas Nigam Ltd (RVNL), was project execution. According to IPRCL, it has formed with the objective to provide efficient completed the pre-feasibility study of a heavy haul rail evacuation systems to major ports and rail corridor from Ib Valley -Talcher to Paradip and enhance their capacity and throughput. Dhamra to evacuate coal mines of Mahanadi Coal Meanwhile, similar works have already Ltd (MCL) to the ports for shipping them to the commenced for Kolkata, Vishakhapatnam, southern states through the coastal route. IPRCL Chennai, Tuticorin and New Mangalore ports, also said that the company has already started rail IPRCL disclosed. Preparation of a detailed infrastructure modernisation in Kolkata, project report (DPR) for road and rail Vishakhapatnam, Chennai, Tuticorin and New connectivity of proposed Colachel Port in Tamil Mangalore ports. "Rail infrastructure expansion Nadu was also was discussed in the meeting. and modernization works are likely to commence “During the financial year 2015-16, 20 railway from April 2017 in Kandla and JNPT ports and in projects were taken up across eight major Haldia Dock Complex (HDC). ports. Out of this, eleven works with total The Economic Times - 22.12.2016 project cost of Rs 7,636.15 crore were for http://economictimes.indiatimes.com/industry/tr preparation of feasibility and DPR and nine ansportation/railways/20-rail-projects-taken-up- works with total project cost of Rs 643.77 crore across-8-major-ports-in-2015-16- were for project execution,” read a statement iprcl/articleshow/56124553.cms issued by IPRCL. DNA - 23.12.2016 http://www.dnaindia.com/money/report- mega-port-linkage-in-works-2285590