by admin | May 25, 2021 | Corporate, Corporate Governance, Economy, News, Politics
New Delhi : In a major move to fight air pollution in Delhi, the city government on Wednesday approved the hiring of a consultant to run 1,000 electric buses estimated to cost Rs 2,500 crore in the national capital as promised in its 2018-19 Budget.
Delhi Chief Minister Arvind Kejriwal announced the development on Twitter after the move was cleared at a cabinet meeting.
“Cabinet approves hiring of consultant to run 1,000 electric buses in Delhi. A big step in modernizing Delhi’s transport sector and reducing pollution,” Kejriwal said.
Earlier this month, the Delhi government had informed the Supreme Court that each vehicle would cost around Rs 2.5 crore.
The Delhi Assembly had passed the 2018-19 “green” budget with a focus on fighting pollution by commissioning 1,000 electric buses and providing subsidies for switching to non-polluting fuel.
As per a 1998 order of the Supreme Court, Delhi should have a fleet of 10,000 buses for public transport but currently it has only 5,815 buses.
—IANS
by admin | May 25, 2021 | Corporate, Economy, News
New Delhi : With rains continuing to be elusive, peak power demand in Delhi broke all records on Tuesday to breach the 7,000 megawatt (MW) mark and touch the high of 7,016 MW a little before 3.30 p.m., Delhi electricity distribution company (discom) BSES said.
A BSES statement said that Tuesday’s figure, which broke the previous record of 6,998 MW created on Monday, marks an increase of over 250 per cent over the peak power demand of 2,879 MW in 2002.
“This is the 11th time this year Delhi’s peak power demand has surpassed last year’s high of 6,526 MW,” it said.
“The peak power demand in BSES Rajdhani Power Ltd’s (BRPL) area of south and west Delhi, today (Tuesday), clocked 3,081 MW and 1,561 MW in BSES Yamuna Power Ltd’s (BYPL) area of central and east Delhi.
According to the discom, Delhi’s peak power demand is substantially more than that of several cities and states.
“It is more than the power demand of Mumbai and Chennai put together and thrice than that of Kolkata,” it said
“The fact that the city’s power demand is consistently crossing the 6,500 MW mark shows the robustness of the capital’s distribution and transmission system, which has been able to measure up.
“This has been possible on the back of an advanced distribution network and massive reduction in AT & C (aggregate technical and commercial) losses,” it added.
The BSES discoms have invested substantial resources to strengthen the network for taking additional power load during summer months, the statement said.
“During the year, BSES discoms have invested heavily to further improve and augment this network by adding new grid substations, power transformers, laying new feeders, shifting overhead lines underground and setting-up new distribution transformers among others,” it said.
“BSES discoms continued to invest heavily in the network and deployed a capex of over Rs 900 crore during FY 2017-2018. At the back of several technological deployments, capacity addition is of over 900 MVA (mega volt ampere),” it added.
To meet the unprecedented demand, the two BSES discoms have taken measures like long-term power purchase agreements (PPAs) and banking arrangements with various states, as well as with neighbouring Bhutan.
—IANS
by admin | May 25, 2021 | Business Ideas, Economy, Entrepreneurship, News, Politics, Startup Basics, Your Business Plan
Suresh Prabhu
Kolkata : New India should have an economy driven by entrepreneurship and innovation, Union Commerce and Industries Minister Suresh Prabhu said here on Saturday, cautioning that the debate between public and private sectors should be judged solely by national interest and not by ideological considerations.
“In new India, we must make sure India should be the dominant economy of the world, India must be a model economy of the world, it must have a model industry… India must have an economy driven by entrepreneurship and innovation,” Prabhu said here.
Addressing students of National University of Juridical Sciences, the Union Minister said one needs to find out whether the public or the private sector or both together best serve India’s interests in a given field, time and situation.
“We should not just be swayed by ideology. We should not say public sector will solve all the problems nor should we say public sector will not exist. We must find out what is good for India. And that what is good for India will change from time to time,” Prabhu said speaking on the topic “Privatising Public sector: The Lessons Learnt and Way Ahead”.
Turning to 1956, when Parliament passed the Industrial Policy Resolution that stressed on state control of the economy, Prabhu said: “There is no point in now saying whether it was right or wrong. May be it was right. But just because it was right in 1956, one should not assume it will be right in 2018.
“We have to keep evaluating the situation, and take right decisions. Future of public sector is not as important as future of India. What is important is future of India,” he said.
He said in a changing world, one needs to be flexible with ideas about the development of the country.
“What is necessary for India will keep on changing because the world is changing. So if we just take one idea and say we won’t look at any other idea as our idea is the best, that will be akin to an ostrich mentality.”
Without naming any country, he said the nations which did not change with time were now struggling, “trying to come out of the shell, and make new friends, just to integrate into the new economy”.
—IANS
by admin | May 25, 2021 | Business, Commodities, Commodities News, Corporate, Corporate Buzz, Economy, Large Enterprise, Markets, News
New Delhi : The price of non-subsidised LPG cooking gas will be hiked by Rs 55.50 per cylinder in New Delhi, and that of the subsidised one by a marginal Rs 2.71, effective July 1.
According to Indian Oil Corporation, the increase is mainly on account of GST on revised price of domestic non-subsidised LPG.
“There is a marginal increase of Rs 2.71 per cylinder (from Rs 493.55 in June 2018 to Rs 496.26 in July 2018) in the effective price of subsidised LPG cylinder in Delhi for domestic customers for the month of July 2018,” IndianOil said in a statement on Saturday.
“The increase is mainly on account of GST on revised price of domestic non-subsidised LPG.”
As per the statement, the price of non-subsidised LPG at Delhi which consumers buy
buys after exhausting their yearly quota of 12 will increase by Rs 55.50 per cylinder in July 2018 due to increase in international price of LPG by $57 per MT.
“The balance Rs 52.79 (Rs 55.50 minus Rs 2.71) is being compensated to the customer by increase in subsidy transfer to their bank account,” the statement said.
Accordingly, the subsidy transfer in customer’s bank account has been increased to Rs 257.74 per cylinder in July 2018 as against Rs 204.95 per cylinder in June 2018.
Oil companies revise the rates of LPG on the 1st of every month based on average crude price and foreign exchange rate. Prices vary at locations according to local taxes as petroleum products are not included under the pan-India GST.
—IANS
by admin | May 25, 2021 | News
New Delhi : Solar solutions provider SunSource Energy said on Tuesday that it is on course to set up a 2.5MW solar rooftop plant at Delhi’s Jamia Millia Islamia University, by the end of June 2018.
In a statement, the Noida-based SunSource said the plant would help the university save around Rs 1 crore in energy costs per year.
“Jamia Millia recently signed an MoU with SunSource (which in turn was approved by the Solar Energy Corporation of India) to execute the project on a turnkey basis for the next quarter of a century under the Renewable Energy Service Company model (RESCO).
“Electricity would be supplied at Rs 3.39 per unit for a period of 25 years,” it said.
The installation of solar panels on over 50 rooftops of various buildings like central library, colleges and departments of Jamia and the hostels had already started, it added.
Commenting on the developnment, university Vice-Chancellor Talat Ahmed said in a statement: “Jamia Millia University’s current project is an attempt to run the university on renewable energy and will position it as a leader among central universities in the use of renewable energy. The solar plant would also greatly benefit students pursuing BTech and BVoc degrees at Jamia Millia.”
The university “will incur no cost on the setup and maintenance as it will be taken care of by SunSource Energy, with the support from the SECI”.
“With the installation of the 2.5MW plant, the university is expected to save over Rs 1 crore annually apart from significantly contributing to the environment,” said SunSource COO and Co-founder Kushagra Nandan.
SunSource has executed some prestigious solar rooftop projects here including at the India Habitat Centre and Vasant Valley School, and is currently involved in over 200MW of solar projects in India and internationally and targets to reach 1.5 GW (gigawatt) capacity by 2025, the statement said.
The firm expects to reach an annual turnover of over Rs 600 crore by 2020.
—IANS
