BUSINESS लेबलों वाले संदेश दिखाए जा रहे हैं. सभी संदेश दिखाएं
BUSINESS लेबलों वाले संदेश दिखाए जा रहे हैं. सभी संदेश दिखाएं

शुक्रवार, 31 अक्टूबर 2025

फोर्ड करेगी भारत में फिर शुरू उत्पादन

अमेरिकी वाहन निर्माता कंपनी फोर्ड एक बार फिर भारत में अपनी मौजूदगी दर्ज कराने जा रही है। कंपनी ने घोषणा की है कि वह चेन्नई स्थित अपने पुराने प्लांट में फिर से मैन्युफैक्चरिंग (उत्पादन) शुरू करेगी। इसके लिए फोर्ड 3,250 करोड़ रुपये का नया निवेश करने जा रही है। 

फोर्ड अब अपने चेन्नई प्लांट में नेक्स्ट-जेनरेशन पावरट्रेन (इंजन सिस्टम) तैयार करेगी। कंपनी ने बताया कि यह फैसिलिटी वैश्विक स्तर पर इंजनों के उत्पादन के लिए इस्तेमाल की जाएगी। फिलहाल इन नए इंजनों की टेक्नोलॉजी और एक्सपोर्ट डेस्टिनेशन के बारे में कंपनी ने ज्यादा जानकारी नहीं दी है। लेकिन उत्पादन की शुरुआत साल 2029 से होने की उम्मीद है।

कंपनी के मुताबिक, चेन्नई प्लांट हर साल करीब 2.35 लाख इंजनों का उत्पादन कर सकेगा। इस प्रोजेक्ट से 600 से ज्यादा सीधी नौकरियां और सप्लाई चेन में कई अप्रत्यक्ष रोजगार अवसर पैदा होंगे। फिलहाल फोर्ड का ध्यान सिर्फ इंजन बनाने और उन्हें एक्सपोर्ट (निर्यात) करने पर रहेगा। कंपनी ने अभी तक भारतीय पैसेंजर कार मार्केट में दोबारा एंट्री को लेकर कोई संकेत नहीं दिया है। हालांकि, उसने यह जरूर कहा है कि वह भारत में अपने पुराने ग्राहकों के लिए सर्विस, स्पेयर पार्ट्स और वारंटी सपोर्ट जारी रखेगी।

 

मंगलवार, 1 जुलाई 2025

Are Indian regulatory bodies pettifoggers?

Observers and common public in India seem to be gradually inferring that regulatory/ guiding/autonomous/high powered bodies appointed by the Government of India, are not as effective as they are purport to be.  DGH, PESB, PNGRB, CERC, DGCA el al are powerful bodies created to fulfill specific purposes, address particular issues and regulate various sectors. But are they really serving their purpose? Are they not missing the forest for the trees? Today’s Economics has selected these bodies merely as examples without any intended or unintended malice. No aspersions are being cast nor should be taken. Sources have been approaching to voice concern on the current ecology of regulatory bodies. A healthy democracy, should in fact be strong enough and morally courageous enough, to take stock when it is necessary.  

DGCA is currently in news, among other acts for having ordered AI to sack officials for serious lapses. DGCA has done this only after the recent, unfortunate crash of AI Aircraft at Ahmedabad. But may say there were earlier aberrations but strict action was not imposed. Airlines were let off with warnings and fine. PESB if more in news for rejecting candidates for PSUs, rather than selected them. Of late, it has been suggesting for a rather curious route of “Search Committee” for selecting PSU heads. Many candidates feel that their deserving candidature was rejected without citing specific reasons, leading to questions on ab initio laying down of job descriptions and specifications. They want more transparent guidelines and procedures.  

DGH had no comments to offer on the recent, prolonged ONGC Gas leak in Assam.  It was left to the Minister to step in and assuage the feelings of an enraged local community. Sources state that claims/reparations often get stalled indefinitely. Even prominent Legal Firms are wary of it. PNGRB is known to pass pronouncements which seem to somehow be in favour of private players, rather than promoting Government PSUs. Recently its in in the process of making Government mineral oil Pipelines a common usage property. However, no such Pipeline in Private Sector has been proposed. Strictly speaking it may mean renting out the property of the Government of India but no action under the ToP Act,1882 seems to have been contemplated.  CERC has often passed orders which have been challenged in court leading to wastage of time and money. Electricity Litigation now features prominently in most lawyers’ area of practice. These are but few illustrative examples, from the world of regulatory bodies which observers cite, to claim, that maybe all’s not well.

The role of regulatory bodies is often the subject matter of controversies. Although some do carry statutory powers, most lack the strict set of rigorous conduct/procedures akin to CPC/CRPC. Their decisions can be said to be more akin to executive/administrative diktats. They appear to have an affirmative orientation towards one or another party.  No doubt, a particular case or issue is always debatable and facts and law come into play. But the maxim, justice should not only be done but appear to have been done is equally important. More so as it is one of the founding principles of natural justice and goes even beyond man made laws.  Laws have to adhere to this important tenant. Many experts who have more privy to facts, have of late, started opining, that such bodies should also function as ombudsmen who are not swayed by official dictates. Fair play should never be given a by-pass. But they also point out an unmissable fact that many such bodies are often headed by retired bureaucrats/ex PSU executives. They in their long career, in a particular environment and hereinbefore used to particular structured approach, chain of command, need to know principles etc. may not be ideal material to carry out independent, quasi-judicial functions. Their credentials should be commensurate with the exalted position they hold. And the public outcry re affirms the dictum that Caesars wife should be above suspicion. Today’s Economics does not want to cast any aspersions on these hallowed bodies or the incumbents but it’s also true that the increasing clamor cannot be ignored.

Experts feel that the person(s) heading such bodies should have the necessary background and wherewithal to resist pressures and carry out a more comprehensive job which is acceptable to all. Simultaneously, Rules & Procedures should be more robust, transparent and with due notice to public. Model Rules should be available not only to parties or arguing lawyers but even to the general public since it ultimately impacts them. In camera deliberations should be minimum and ‘open courts’ should be the norm. There should be an audit on the working of these bodies which is not restricted merely to financial aspects. In fact, many experts state that after many decades of working of these bodies, time has come for India to have a regulatory body to regulate the regulatory bodies.

शुक्रवार, 27 जून 2025

AI: Rough Carrier

Aircraft Maintenance has come into sharp focus after the crash of Air India Boeing 787- 8 Dreamliner, operating as Flight AI171 from Ahmedabad to London Gatwick, on June 12. A total of 241 passengers and crew on board the Boeing Dreamliner and 29 people on the ground lost their lives. The London-bound aircraft had crashed into a buildingof BJ Medical College campus, moments after it took off, from the SardarVallabhbhai Patel International Airport in Ahmedabad. One passenger,Vishwas Kumar Ramesh, seated on the now famous and much sought after seat -  11 A seat, survived the disaster. He is a 40-year-old British businessman from Leicester. He was discharged, after recovery, from Ahmedabad Civil Hospital, only to be carrying out the funeral rites of his cousin, who also had died in the same air accident. Such isthe irony and human misery being faced by many. Today,s Economics pays tribute to all those who lost their lives as well as those who survived the ordeal.

Whereas there is much discussion with experts in the media, regarding the cause of the crash,it is yet to be officially announced. Whether it is due to the aftermath, rigorouschecks or the ensuing Iran-Israel War, many flights have now been cancelled by Air India. These cancellations have reached hitherto unseen proportions leading many air travelers to point at maintenance issues. While debates rage on the most probable reason of the crash, aircraft maintenance seems to be taking center stage. Today's Economics, wishes to bring its readers afeature which is not commonly known. When Air India was sold to Tatas in year 2021 for US $ 2.44 Billion, some of the subsidiary companies of Air India were not acquired.In Aviation Sector, experts reveal there is a popular practice of bigger companies having their own maintenance set ups. Such maintenance unit(s) are not small garage like outfits. These arespecialized arrangements with expert manpower and sophisticated machinery. They can carry out extensive short term and long term maintenance activities. One such maintenance company of Air India was Air India Engineering Services Limited (AIESL). A CAR 147. & EASA PART 147 APPROVED organization.It was a fully owned subsidiary of Air India,dedicated to providing world-class Maintenance, Repair, and Overhaul (MRO) services for aircrafts. Established with the goal of offering specialized engineering solutions,AIESLclaims to have become one of India’s leading MRO serviceproviders, ensuring the safety, reliability, and operational efficiency of a wide range of aircrafts. AIESL leveraged its legacy to serve both domestic and international airlines with the highest standards of aircraft maintenance and engineering services. It has the capacity for MRO services for both Wide Bodied and Narrow Bodied Aircrafts. At one point of time the key MRO locations of AIESL included Indira Gandhi International Airport (Delhi): One of the largest hubs for AIESL, ChhatrapatiShivajiMaharaj International Airport (Mumbai), one of the company’s most advanced MRO centers, the Mumbai facility specializes in heavy maintenance services, engine repairs, and component overhauls. Rajiv Gandhi International Airport (Hyderabad): a key location for line maintenance and heavy checks, particularly for Airbus and Boeing aircrafts. Kempegowda International Airport (Bengaluru)-: This facility offers comprehensive maintenance services for wide-body aircraft and narrow-body jets. It is known for providing advanced avionics support, catering to the growing demands of modern aircrafts.Netaji Subhas Chandra Bose International Airport (Kolkata): The Kolkata MRO center is a full-service facility offering maintenance and repair services to domestic airlines as well as international carriers.Cochin International Airport (Kochi): A key center in Southern India, this facility focuses on engine maintenance and repair for regional aircrafts. SardarVallabhbhai Patel International Airport (Ahmedabad), a facility specializing in line maintenance services for narrow-body aircraft and serves a significant portion of the regional airlines operating in Western India.Thiruvananthapuram International Airport (Trivandrum), this facility provides routine maintenance, repair and overhaul services, especially for wide-body aircrafts. Nagpur International Airport (Dr. BabasahebAmbedkar),  a dedicated MRO center for cargo planes and business jets, it playsa crucial role in maintaining the operational efficiency of freight and private aircrafts. Readers will notice that the organization has wide spread network and appears to have extensive facilities. AIESL has an Attach and Detach Shop. It also is said to have a Full Thrust Workshop in Terminal 2 of Palam Airport.The Aircrafts serviced by AIESL are also myriad, the company’s comprehensive expertise in handling multiple aircraft types makes it a key player in India’s aviation MRO sector. In the Commercial Aircraft Sector, it services: Airbus A320 Family: Including models like Airbus A320-200, A320neo, A319, and A321, Boeing 737 Family: Models such as Boeing 737-800, 737-900, and the Boeing 737 MAX. Boeing 777 Family:- Boeing 777-200, 777-300, and 777-300ER.  Boeing 787 Dreamliner Series: The company is also experienced in handling Boeing’s advanced Dreamliner series, including Boeing 787-8 and 787-9 models.ATR Series: The ATR 42/72 regional turboprop aircraft are also supported by AIESL. In the Cargo and Special Aircraft, it Services:Boeing 747 Series: maintenance services for Boeing 747-400 and 747-8 freighters. Key services include:Line Maintenance, Base Maintenance, Engine Overhaul,Component Overhaul and Repairs: Servicing,Avionics Services, Aircraft Painting and Livery,Non-Destructive Testing (NDT), Interior Refurbishment: Full cabin refurbishment services,CAMO Services (Continuing Airworthiness Management Organization). AIESL at one point of time employed approximately 5,000 highly skilled professionals, making it one of the largest MRO service providers in India.  Well, why this rather elaborate discourse on one particular company? For one, we are discussing Aviation Maintenance but more importantly we already have a Make in India organization which we should be making full use of. (These details have been obtained from the Website on Internet. Readers are requested to verify from original source). Today Economics is not in any way tying to campaign for the company nor criticizing the actions of the house of Tatas& Government.

Fine, this particular company was not acquired by the Tatas. Maybe in their scheme of things, outsourcing the maintenance ofAircrafts, rather than carrying it out in-house, made for greater economic sense. Of course, maintenance activities, experts say, traditionally means getting ‘your hands dirty’ in cluttered, greasy, labour intensive activities. So many airlines prefer to outsource this bothersome, unglamorous undertaking. Howsoever important it may be. Tatas collaboration with Singapore Airlines for Vistara could have also played a role. In any case, an opportunity of acquiring a Value organization was lost. Often immediate concerns can overshadow long term perspectives in businesses, though it is not being suggested in this particular case atall.AIESL could have lost some of its market and patronage, we are not aware. But then many would say there are collateral impacts of Privatization. Economists say hard money, rather than immediate value realization is seen as the ultimate objective of privatization. ITDC, STC etc. are a case in point; wheremany state that intrinsic value and brands got diminished. Air India somehow is proving the point that all out privatization of PSUs may have its own limitations. Some eminent people have even started questioning the Air India privatization. Of course the accident could have happened any which way and Tatascertainly cannot to be blamed for it. Many observers feel that the Oil & Gas Sector could be next in line for total privatization. It’s after all,the duck which laysgolden eggs. Already, the existing Indian private players have already made a nice buck. Of late they have even overtaken the PSUs in domestic market share. Remember they already made a killing in exports,prompting windfall taxes for the first time in India! But with the world in a flux, sceptics insist that a fall back arrangement has to be in place especially when the push becomes a shove. Readers will do well to recollect the time when the Oil Companies in India, owned by the so called Seven Sisters, Oil Multinationals, had to be nationalized? One of the reasons was their being neutral at a time when India was at war. Wars are suddenly becomingquite frequent and somewhat prolonged!The oft quoted words of Indian business housesthat they are there to do business not charity, needs to be kept in perspective. Occasionally, there may be requirement of charity at home so that the nation is able totide over grim times.  But let us not divert from our topic of Aviation Maintenance. Aviation veterans have a saying – Every engine has its own mind, and surely minds should be currently at work in India!

TE conveys its heart felt condolence to all who have been impacted by AI crash.

गुरुवार, 22 मई 2025

India’s Lifeline in a Changing Climate

Once a symbol of seasonal certainty, the Indian monsoon is now a bellwether of climate disruption—with consequences that reach far beyond rain.

Climate Change and the Crumbling Certainty of the Monsoon: 

In 2023, India saw a tale of two extremes—devastating floods swept through Himachal Pradesh, while parched fields in Bihar cracked under the sun. As we move through 2025, the story is becoming disturbingly familiar. The Indian Meteorological Department's (IMD) March 2025

seasonal outlook forecasts warn of rising pre-monsoon temperatures and regionally variable rainfall. Simultaneously, global climate models—including those from NOAA and the World Meteorological Organization—suggest a transition from El Niño, historically a rain suppressor to a potential La Niña phase by mid-year, a shift that could significantly impact monsoon behaviour.

The Indian monsoon, once a predictable rhythm of nature, has become a seasonal suspense. Its shift is not merely a meteorological anomaly—it strikes at the heart of India’s food security, economic stability, and rural life. This is no longer about adapting to a season; it is about surviving a new climate reality.

How Climate Change is Rewriting the Monsoon:

The monsoon is born of contrast—warm land pulling moist air from the ocean. For generations, this dance of elements brought life-giving rain. But now, that rhythm is faltering. Many global phenomena affect the Indian monsoon, such as:

El Niño weakens the winds; La Niña may strengthen them—but timing is everything. A missing or misfired Indian Ocean Dipole leaves key regions dry. The Madden-Julian Oscillation and the Indian Summer

Monsoon Oscillation, once fine-tuning agents of the season, now contribute to chaos. Add to this the warming Indian Ocean, and the rain that once arrived gently over months now crashes down in violent bursts, followed by silence. Monsoon onset and retreat dates have lost their regularity.

Planners are left guessing. Farmers are left waiting.

According to IMD long-term data and a 2022 Ministry of Earth Sciences report, the frequency of heavy rainfall events has increased by over 50% in several parts of central and western India, while moderate rainfall events have declined.

Farming in Flux: Food and Fields Under Pressure:

India’s farmers are no strangers to risk, but climate change is moving the goalposts. Over half of the nation’s farmland depends directly on monsoon rain. When the rains fail, so do crops, incomes, and entire village economies.

Sowing dates have become uncertain. Input costs are rising; irrigation demands are surging. In 2019, a 28% rainfall deficit in Central India caused widespread crop failure. This year, even if la Nina returns, it might be too little, too late. The NITI Aayog’s 2023 report on climate- resilient agriculture warned that 65% of cropped area is highly vulnerable to monsoon variability.

The monsoon also fills our granaries. When it fails, food inflation follows. Wheat, rice, pulses—every staple is affected. Buffer stocks shrink. Prices rise. School meals suffer. Nutritional security takes a hit.

According to the Ministry of Consumer Affairs, Food and Public Distribution, poor monsoons in the past decade have been directly linked to reduced procurement levels and higher price volatility in grains.

Water, Wealth, and Worry: The Ripple Effect:

India’s monsoon no longer fills just ponds and paddy fields—it now floods cities and bypasses water-scarce regions. Flash floods rip through one region, while others wait desperately for the skies to open. Meanwhile, regions like Bundelkhand and Marathwada face chronic groundwater depletion, while river-sharing disputes continue to flare across basins such as the Cauvery, Krishna, and Yamuna across Cauvery, Krishna, and Yamuna basins. According to the Central Ground Water Board, over 256 districts reported groundwater levels below the 10-year average as of 2024. This suggests that the nation’s water stress is no longer seasonal—it is structural and worsening.

The economic fallout is far-reaching. Agriculture accounts for 18–20% of India’s GDP, but it supports half the population.

Lower harvests lead to reduced rural spending. FMCG sales dip. Fertilizer and tractor sales shrink. Energy demand shifts erratically. A 2021 report from the Reserve Bank of India linked weak monsoons to a 0.4–0.6% decline in annual GDP. With every disrupted monsoon, economic forecasts become more uncertain.

Unequal Impact: Communities at the Climate Frontline:

Behind each statistic lies a human story—of wage loss, of migration, of broken dreams. For rural workers, a poor monsoon season often means no work, no wages, and no way out.

Families migrate from drought-hit villages to overburdened cities, straining urban resources. Seasonal unemployment surges, particularly among youth and women. In many districts, agrarian crisis is no longer the exception—it is becoming the norm.

Climate change is not the great equalizer—it is a multiplier of injustice. Marginal and vulnerable communities, often in degraded, disaster-prone areas, are first to feel its sting. Women and girls bear a heavier burden—walking miles farther to fetch water, compromising health, and sacrificing education. Any climate strategy that ignores social justice is incomplete by design.

From Policy Promises to Ground Realities

To its credit, the Indian government has taken bold steps:

· The Pradhan Mantri Fasal Bima Yojana (PMFBY) has provided insurance coverage to over 7 crore farmers as of 2023, helping offset losses during erratic monsoons.

· The National Monsoon Mission, with contributions from institutions like IITM and IMD, has improved short- and long- range forecasting accuracy.

· Atal Bhujal Yojana, supported by the World Bank, and Jal Shakti Abhiyan are efforts to arrest groundwater depletion.

Yet, gaps remain wide. As per a 2023 report from the Comptroller and Auditor General (CAG), PMFBY faced delays in claim settlements and low enrollment in vulnerable states. Despite policy frameworks, only 8% of India’s farmers use real-time agromet advisories, limiting adaptive action.

Progress on paper must now translate to resilience on the ground. We need:

· Climate-resilient crops accessible to smallholders

· Greater investment in grassroots training and climate literacy

· Strengthening of local water governance and accountability

· Faster, tech-enabled disbursal of insurance and subsidies

A Future We Must Choose

The monsoon is more than just seasonal rain—it is India’s climate lifeline, the thread that binds its ecology, economy, cultures, and identity. Today, that thread is visibly fraying. With climate disruptions growing, reactive responses are no longer enough.

Climate change and its impact on the monsoon are no longer distant concerns—they are unfolding before us. This is the moment to shift toward long-term, integrated planning that prioritizes resilience, equity, and institutional strength. Forecasting must be matched by foresight.

Protecting the monsoon is not only about preserving rainfall—it is about safeguarding the rhythm of life in India.

To protect the monsoon is to protect the promise of India’s future.

Pooja Rajpoot, currently pursuing a Ph.D. in Geography at Shaheed Bhagat Singh College, University of Delhi. My research focuses on climate resilience, gender studies, and sustainable development, with active involvement in projects related to the Bundelkhand region and urban sustainability. I am committed to producing work that promotes inclusivity and creates meaningful social impact, striving to connect academic research with real-world solutions.

 


रविवार, 2 फ़रवरी 2025

यूपी के एमएसएमई सेक्टर को मिली तवज्जो, खुलेंगी 2100 नई इकाइयां

 अर्थव्यवस्था विकास के दूसरे इंजन के रूप में 5.7 करोड़ एमएसएमई पर ध्यान केंद्रित किया गया है। इनमें एक करोड़ से अधिक पंजीकृत एमएसएमई यूपी में हैं, जो 7.5 करोड़ लोगों को रोजगार दे रही हैं। ये उद्यमी हमारी जीडीपी में 36% योगदान दे रहे हैं। आम बजट में एमएसएमई सेक्टर पर की गई घोषणाओं से यूपी में 2000 से ज्यादा बड़ी इकाइयों का जन्म होगा। वहीं, सुरक्षा दायरा बढ़ने से 40 लाख इकाइयों की राह आसान होगा। 10 लाख युवाओं के लिए रोजगार पैदा होंगे और 50 हजार महिलाओं को उद्यमी बनने का मौका मिलेगा।

निवेश सीमा में 2.5 गुना वृद्धि और टर्नओवर सीमा में दो गुना वृद्धि से एमएसएमई क्षेत्र में निवेश और रोजगार बढ़ाने में मदद मिलेगी। साथ ही तकनीक व नवाचार को अपनाने को भी बढ़ावा मिलेगा। इससे यूपी में छोटी इकाइयों का आकार बढ़ेगा। मध्यम उद्यम की टर्नओवर सीमा 250 करोड़ से बढ़ाकर 500 करोड़ रुपये होने से यूपी में ही इस साइज की 2,100 से ज्यादा इकाइयां बढ़ने का अनुमान है।

उद्यम रजिस्ट्रेशन सर्टिफिकेट (यूआरसी) पोर्टल पर पंजीकृत सूक्ष्म उद्यमों को 5 लाख रुपये की सीमा के साथ कस्टमाइज्ड क्रेडिट कार्ड जारी किए जाएंगे। पिरामिड के निचले स्तर के उद्यमों को परेशानी मुक्त ऋण का प्रावधान यूपी में 10 लाख युवाओं के लिए रोजगार की नई राह खोलेगा। वहीं, पहली बार उद्यम करने वाली पांच लाख महिलाओं और एससी/एसटी उद्यमियों के लिए दो करोड़ रुपये के टर्म लोन के प्रावधान से प्रदेश की 50 हजार ऐसी महिलाएं उद्यमी के रूप में सामने आएंगी, जिन्हें कदम-कदम पर चुनौतियों का सामना करना पड़ता है।

सोमवार, 14 अक्टूबर 2024

हिमाचल में घटा सेब उत्पादन, पिछले साल की तुलना में 20 हजार मीट्रिक टन की गिरावट

 हिमाचल में साल दर साल सेब उत्पादन में गिरावट आ रही है। इस साल भी सेब उत्पादन में करीब 20 हजार मीट्रिक टन की गिरावट आई है। मंडी मध्यस्थता योजना (एमआईएस) के तहत सेब खरीद भी पिछले साल के मुकाबले करीब 17,000 मीट्रिक टन कम हुई है। प्रदेश में सेब सीजन समापन की ओर है। शिमला के ऊंचाई वाले कुछ क्षेत्रों के अलावा किन्नौर और लाहौल-स्पीति में बहुत कम सेब बचा है।

दिसंबर 2023 से मई 2024 के बीच पर्याप्त बारिश और बर्फबारी न होने के कारण चिलिंग ऑवर प्रभावित होने से फसल को नुकसान हुआ। इस साल सीजन करीब 15 दिन देरी से शुरू हुआ। साल 2022-23 में इस समय तक 4.07 लाख मीट्रिक टन सेब कारोबार हुआ था, जबकि इस साल 3.87 लाख मीट्रिक टन ही सेब कारोबार हुआ है। एमआईएस के तहत पिछले साल अब तक 49,000 मीट्रिक टन सेब खरीद हुई थी। इस साल 32,000 मीट्रिक टन सेब खरीदा जा सका है। हालांकि यूनिवर्सल कार्टन लागू करने से बागवानों को 20 किलो सेब पैकिंग में रिकाॅर्ड दाम मिले। हिमाचल के करीब डेढ़ लाख परिवार सीधे तौर पर सेब बागवानी से जुड़े हैं। प्रदेश में 5000 करोड की सेब आर्थिकी है, सेब उत्पादन घटने से प्रदेश की विकास दर प्रभावित होने की आशंका है। हालांकि बागवानी विभाग के निदेशक विनय सिंह का कहना है कि सेब कारोबार में 20 हजार मीट्रिक टन का ही अंतर है, अभी सीजन बाकी है। सीजन खत्म होते होते सेब उत्पादन बीते साल के बराबर पहुंचने की संभावना है।

मंगलवार, 1 अक्टूबर 2024

हरिद्वार जिले की 251 औद्योगिक इकाइयों को झटका, अपात्र घोषित

 सब्सिडी का लाभ पाने के लिए पूंजी निवेश प्रोत्साहन योजना के अंतर्गत राज्य में स्थापित 620 औद्योगिक इकाइयों को केंद्र सरकार ने अपात्र घोषित कर दिया है। सबसे बड़ा झटका हरिद्वार जिले की 251 औद्योगिक इकाइयों को लगा है। जबकि इस आदेश से ऊधमसिंहनगर जिले की 134 और देहरादून जिले की 95 औद्योगिक इकाइयां भी प्रभावित हुई हैं। उद्यमियों का कहना है कि निवेश करने के बाद भी सब्सिडी का लाभ न मिलना निराशाजनक है। केंद्र सरकार ने राज्य की 620 औद्योगिक इकाइयों को सब्सिडी के लिए अपात्र घोषित किया है। इसमें ऊधमसिंहनगर की 134 तो देहरादून जिले की 95 औद्योगिक इकाइयां भी शामिल हैं।

वाणिज्य एवं उद्योग मंत्रालय ने 30 जुलाई 2024 को राज्य सरकार को पत्र भेजकर स्पष्ट किया कि उत्तराखंड की 620 इकाइयों का रजिस्ट्रेशन नहीं हुआ है। ये इकाइयां स्कीम के लिए पात्र नहीं हैं। ऐसे में अब सैकड़ों इकाइयों की सब्सिडी पर विराम लग गया है। बताया जा रहा है कि विभिन्न तकनीकी कारणों और रजिस्ट्रेशन के लिए आवेदन प्रक्रिया में देरी के चलते इन इकाइयों को लाभ की श्रेणी से बाहर कर दिया है। उधर, उद्यमियों ने इस पर निराशा जताई है। साथ ही मुख्यमंत्री समेत विभिन्न स्तरों पर पत्र भेजकर सब्सिडी दिलाए जाने की मांग की है। 

सब्सिडी का लाभ नहीं मिलने पर सबसे ज्यादा हरिद्वार जिले के उद्यमियों में रोष है। इसे लेकर औद्योगिक सलाहकार एवं पूर्व राज्यमंत्री ठाकुर संजय सिंह की ओर से पूर्व मुख्यमंत्री एवं पूर्व केंद्रीय मंत्री डाॅ. रमेश पोखरियाल निशंक को पत्र भेजा है। जिसमें उन्होंने बताया है कि निवेश करने वाली सभी इकाइयों को सब्सिडी का लाभ दिलाया जाए। ताकि राज्य में निवेश का बेहतर वातावरण बन सके।

शनिवार, 7 सितंबर 2024

कानून के दुरुपयोग पर उपभोक्ता पर लगाया जुर्माना

गुरुग्राम। उपभोक्ता आयोग ने एक याचिकाकर्ता द्वारा पीएनबी हाउसिंग फाइनेंस लिमिटेड और बिल्डर कंपनी यूनिटेक लिमिटेड के खिलाफ दायर याचिका को खारिज कर दिया है। आयोग ने मामले को कानून की प्रक्रिया का दुरुपयोग करार देते हुए याचिकाकर्ता पर ही एक लाख का जुर्माना लगाया है। आयोग ने आदेश दिया है कि जुर्माने की इस राशि को उपभोक्ता को 45 दिनों के भीतर पीएनबी हाउसिंग को देना होगा।

द्वारका,नई दिल्ली के रहने वाले याचिकाकर्ता कामलनयन गुप्ता और उनकी पत्नी ने 2011 में बिल्डर कंपनी यूनिटेक लिमिटेड द्वारा यूनिटेक साउथ पार्क सेक्टर- 70 में विकसित एक आवासीय अपार्टमेंट बुक किया था। अपार्टमेंट की कीमत करीब 78.84 लाख रुपये थी। इसके लिए याचिकाकर्ता ने पीएनबी हाउसिंग फाइनेंस से 64 लाख का लोन लिया था। अपार्टमेंट को तीन साल में हैंडओवर करने की समय सीमा थी, लेकिन यूनिटेक लिमिटेड ने समय पर संपत्ति का कब्जा नहीं सौंपा था। इसके चलते, याचिकाकर्ता ने उपभोक्ता आयोग में बिल्डर कंपनी यूनिटेक और पीएनबी हाउसिंग फाइनेंस के खिलाफ शिकायत दर्ज की थी। याचिका दाखिल कर दी। इस पर सुनवाई करते हुए आयोग ने माना कि उपभोक्ता को पूरा पैसा बिल्डर कंपनी से वापस मिल चुका है। ऐसे में उसने अनावश्यक ही आयोग का समय बर्बाद किया है। इस पर सख्त रुख अपनाते हुए आयोग ने उपभोक्ता की अर्जी को खारिज करते हुए उस पर एक लाख रुपये का जुर्माना लगा दिया। साथ ही आदेश दिया उपभोक्ता पीएनबी हाउसिंग लोन कंपनी को उसकी राशि भी चुकाए।

पॉलिसी न होने से ई-वाहनों की खरीद में गिरावट, रोड टैक्स में छूट बंद

 राजधानी में इलेक्ट्रिक वाहनों का पंजीकरण मंहगा हो गया है। ई-वाहन पॉलिसी के समाप्त होने से रोड टैक्स में मिल रही छूट खरीदारों को नहीं मिल रहा है। इस वजह से ई-वाहन खरीदने पर पंजीकरण 10 फीसदी तक मंहगा हो गया है। ई-वाहनों को बढ़ावा देने के लिए दिल्ली सरकार की ईवी पाॅलिसी 30 जून का समाप्त हो चुकी है। इसे कई बार आगे बढ़ाया जा चुका है। लेकिन अब इसे आगे नहीं बढ़ाया जाएगा।

इसकी जगह पर नई ईवी पॉलिसी 2.0 लागू की जाएगी। लेकिन यह कब लागू होगी इसको लेकर अभी फिलहाल परिवहन विभाग की ओर से कोई तारीख तय नहीं की गई है। मौजूदा समय में पाॅलिसी नहीं लागू होने से नए इलेक्ट्रिक वाहन खरीदने पर ग्राहकों को कोई सब्सिडी नहीं मिल रही है।

दिल्ली सरकार का लक्ष्य है कि दिसंबर 2025 तक कुल पंजीकरण होने वाले वाहनों में से 25 प्रतिशत इलेक्ट्रिक वाहन हो। अगस्त 2020 से देखें दो अब तक दिल्ली में दो लाख 15 हजार इलेक्ट्रिक वाहन पंजीकृत हुए हैं। साल प्रति साल इन वाहनों का प्रतिशत बढ़ भी रहा था। लेकिन अब इसमें गिरावट आनी शुरू हो गई है। वाहनों की खरीद में गिरावट आने को लेकर कई ई-वाहन विक्रेता नौ सितंबर को दिल्ली सरकार के परिवहन मंत्री कैलाश गहलाेत से मुलाकात भी करेंगे।


शुक्रवार, 2 फ़रवरी 2024

Interim Budget: Aspirational than pragmatic

The phrase "Interim Budget" seems to allude to an intermediary step in the continuum towards a repetition by same persona. Budgets are mostly aspirational than pragmatic. And one has to take them with a pinch of salt. The Interim Budget for FY 25 is commendable solely on the ground that it was presented on floor of parliament. Many of us would recall the occasion when budget was not presented at all by a government. 
Any which way, the interim budget was on expected lines. We had, in our pre budget sharing with our esteemed readers, brought out certain facets which went on to be proven right essentially. Big ticket announcements were noticeably absent which made many wonder whether ideas have run dry or there is no current felt need for anything brilliant. Most economists have found the budget more plain jane than striking. Leaving everything to the final installment seems to be a bit of procrastination.
We have attempted to explore the interim budget on certain salient points. The President of India had a day before the presentation had said that the government priorities would rest on four key pillars - "Youth, Woman Power, Farmers, Poor. While the Finance Minister redefined "GDP"; as Gross Development Product (GDP) - "Governance, development and performance". The intentions were indeed laudatory and phraseology brilliant the overall product though left many with mixed feelings. The goals seem to be too nebulous and the paths lack precision. Historically, the current government has had only a modicum of success in these areas and despite strong resolutions failed in execution. The conventional GDP growth as seen in the Reserve Bank of India(RBI) Survey of Professional Forecasters, in June 2023 mentioned, Real gross domestic product (GDP) growth forecast for 2023-24 at 6.0 per cent while for 2024-25 the growth was projected at 6.4 per cent. While Union Finance Minister highlighted India’s robust economic performance during the interim budget, boasting three consecutive years of 7% growth.  The Reserve Bank of India (RBI) has of course now raised its forecast for India’s gross GDP to 7% for the current financial year, following strong growth in the second quarter. Looking ahead, the nominal GDP growth for the fiscal year 2025 is assumed to be 10.5%3. There may be some debate on actual numbers but more or less India's GDP growth seems to be on a relatively stable trajectory, which is good news. Obviously a budget is an exercise in balancing the earnings vis a vis spending and ensuring the least deficit. This time round, in the interim budget, the government has disclosed that it aims to reduce the fiscal deficit target to 5.1 per cent of GDP in the upcoming fiscal year and reducing it to 4.5 per cent in FY26. This may be a tall task, say many economists. Unfortunately, governments in India have developed an appetite for meeting the budgetary deficits by selling family silver. These are certainly not meant for boosting short term revenue shortfalls rather are long term value propositions. If one is to go my conventional wisdom earnings would accrue from Taxes (both direct and indirect) and other revenues (say dividends etc.).
Interestingly, there has not been any significant changes in the Corporate Tax regime; while IT and GST are continued to be paid by all citizens. These two have emerged as the biggest source of income for the government. According to a media report, Direct, Indirect taxes comprise 63 Paise of every rupee in Government Coffer. 28 Paise from borrowings and other liabilities, 7 Paise from non-tax revenue like disinvestment and 1 Paise from non-debt capital receipts, according to the interim Budget 2024-25 documents. Of the total, 36 paise will come from direct taxes which include corporate and individual income tax. Income tax will yield 19 paise, while corporate tax will account for 17 paise. Thus one can see that the contribution of Corporate Tax is lesser than Individual Income Tax. All admit that GST collections have become more healthy.
Therefore one allegation that the government faces is that it is out to squeeze the middle class salaried taxpayer and the common man than big corporates. Often a justification is given that lower Corporate Taxes would invite great investments from the private sector but that is certainly not ben the case so far. Not much investment is seen by the private players especially in the infrastructure structure. Thus the lowered Corporate Taxes do not seem to have brought the intended results. Anyway, the government aims to raise Rs 21.99 Lakh Crore from direct taxes and Rs 16.31 Lakh Crore from indirect taxes in fiscal year 2025. As normally happens, all common citizens look forward to some announcement on reduction of Income Tax or revisiting the slabs.
While no such indulgence has been announced in the Budget, the tongue in cheek declaration(threat) seems to be that one should be grateful that it has not been increased. Though a grudging concession that there will be no tax liability for taxpayers with income up to Rs 7 Lakh, has been made. Another favorite current dispensation seems to be Capital Expenditure. This has become the buzzword for galvanizing the economy. Offering a vision for the next five years of unprecedented growth, it has been
announced that a whopping Rs 11.1 Lakh Crore Capital Expenditure is earmarked for the next fiscal year. It's an 11 per cent increase from the current fiscal year. But as has been seen, in the past, for Capex, there is heavy dependence on Government Expenditure & PSUs. Private sector is yet to go for it in a big way while demanding all the benefits which accrue from it. A related issue as also a source of grave concern is that governmental support for Capex by PSUs is sometimes abruptly withheld. For the education sector in 2023-24, the highest-ever allocation of Rs1.12 lakh crore against FY 2022-23 budget allocation of Rs 1.04 lakh crore has been done. FY 2023-24 budget included  Rs 68,804 crore allocation for school education, Rs 44,094.62 crore allocation for higher education and Rs 37,453 crore allocation for the Samagra Shiksha Abhiyan (SSA). The Finance Minister also stated that the government’s Skill India Mission has successfully trained 14 million youth, upskilled and reskilled 5.4 million individuals and established 3,000 new Industrial Training Institutes (ITIs). But many say what's the use of skilling when these youth do not find employment? Either the skills are not market oriented or not many jobs are available. We are sure that it's a bit of both. Even the huge rush for foreign education is primarily for getting jobs. Agreed Israel has accorded for some construction workers South Korea seems to have gone back on its promise to engage labour from India. It has brought the debate on unemployment to the centre stage. May pundits are questioning the huge funds allocation for skill development, when matching efforts for ensuring jobs to those imparted the skills, is not there. This is a real sore point for many and opposition parties have often underscored this issue. There are some exemptions for startups and extension of Tax Sops for soverign wealth funds for startups till March 2025 announced in the budget. But one needs to see the overall picture as well for startups. Although there is a lot of talk of ease of doing Business in India, it currently stands at 63rd position among 190 nations in the World Bank ’s ease of doing business ranking. Despite many of the economic reforms of the current government, it failed to achieve the target of being at the 50th place. It has been promised that 40,000 normal Railway bogies will be converted to Vande Bharat standards. A 1 Lakh Crore corpus will be made available with 50 year interest free to e3ncourage the private sector to scale up Rooftop solarization and free electricity is promised upto 300 units to 1 crore households. Not short on coining new words, FDI is now First Develop India; it was stated that India while stating that inflow during 2014 to 2023 has received a Foreign Direct Investment (FDI) inflow of $596 billion since 2014, which is double the inflow between 2004 and 2014. And for sustained FDI negotiations are on for bilateral investment treaties with foreign partners. Though nothing further is spelled out. There is of course allocations made for Railways for better connectivity, health sector, setting up of new medical colleges, dairy farming, blue economy (aqua culture) etc. in the budget. These are some of the highlights we thought to share with the readers. One thing though which needs to be pointed out is the propensity of the current government to resort to sale of PSUs for meeting revenue commitments and averred claim for total exit of the government from businesses. The dividends given by the more profitable ones are forgotten in the cacophony by officials and ex officials who fail to see the actual value which these strategic companies bring to the table. This quick fix approach needs to be examined afresh, especially in light of experiences of other nations. While BPCL failed to find a buyer in the last round, there is much talk of IDBI being the next target. This may be fine but there is no talk for sale of HEC, constituents of erstwhile Fertilizer Corporation of India, Bridge & Roof, PDIL, MTNL, EIL, AI Engineering Services etc., all one sees is the desire for putting profitable PSUs on the chopping block. The interim budget , all in all, is a conservative one, much scope is left for additions and alterations. Well for the common man its all "Que Sera, Sera." Certainly not for them to see the future.


By Sidhartha Mukherjee
Copyrighted material is for fair use, duly and gratefully acknowledged

मंगलवार, 30 जनवरी 2024

Oil & Gas: Pre Budget Reflections

Oil & Gas Best Sellers!

During
the course of last Budget presentation there was much brouhaha on Capital Investment Outlay. It was pegged at Rs 10 Lakh Crore, a whopping increase of 33%, being 3.3% of GDP. This allocation was to galvanize economic growth and create employment opportunities. The final acts of Annual Budget ritual, for 2024-25, are on. Halwa has already been partaken(sic). As expected, a number of analysis, projections and expectations are doing the rounds. Although, the road shows of publicly ruminating before the Finance Minister, on Live Television, seem to be absent, this time round. For those, who are somewhat parochially involved in a particular sector, a few quick insights, are simply unmissable.
As per information available in public domain, for 23-24, GDP at current rates is expected to be Rs 296.58 Lakhs, indicating a growth rate of 8.9%. This is substantially lower than 16.1% growth in the previous year. While employment generated data for 23-24 is not readily available on a consolidated basis, Forbes has cited that in year 2023 unemployment rate is to be 10.05% (in Oct) which is higher than 7.33% in 2022. Well statistics can be damn lies. Some news, has been circulating recently, in the Energy Circles that the Government is thinking of withdrawing its benevolent hand from backing up PSU Oil & Gas companies on Capital Expenditure. This, indeed is worrying. In fact, a sum of Rs 35,000 Crore had been kept for priority capital investments regarding energy transitions and net zero objectives. Rs 30,000 Crore was earmarked for State Owned Fuel Retailers and rest for Strategic Petroleum Reserves. Now interestingly, due to shortfalls in revenue and lower receipts from Sale of PSUs, the Government is reconsidering capital investment allocations. The sales of PSUs was to fetch Rs 51,000 Crores but got only Rs10,050 Crores. The Government has yet to declare its intentions publicly. However, PSUs like the Indian Oil Corporation Ltd. which was poised for rights issues worth 2200 Billion Rupees and Bharat Petroleum Ltd. for rights issue of 180 Billion Rupees to be backed by the Central Government have been asked to reduce them by almost half. When the Budget of 23-24 was being made with the lofty ambition of rocketing the economy through capital expenditure, skeptics had voiced serious concerns which seems to have come to pass. .
One is reminded of the famous Yiddish proverb -“God laughs when Man plans.” Policy makers and planners especially in India, rarely have an alternate or well thought out mid level course correction syatem. Every Indian budget seems to have one lynch pin which most times comes undone. Capital Expenditure was the one for 23-24. Now with the government looking to cut down on the promised support for Capex, OMCs have been left twiddling their thumbs. The much flaunted economic growth through capital expenditure seems to have flown out of the window. Such turnabouts are becoming all too common in the economic planning process. ONGC is said to have obtained government clearance for a subsidiary company, tentatively named "ONGC Green Limited";. ONGC had last year entered into an agreement with NTPC Green Energy Limited for an offshore wind projects and exploring opportunities in storage, e-mobility, carbon credits, green credits, nuclear, green hydrogen and derivatives , green ammonia & green methanol. Now the company will have to totally fend for itself as far as finances are concerned. India has been pitching for renewables and alternate fuels for some time now. There is also talk of replacing Petrol/Diesel run automobiles by cleaner energy, read Electric Vehicles by Year 2030 which is not very far off. At the same time, West Coast Refinery has not been shelved. In any case, industry circles believe that Oil & Gas will remain as a potent source of energy for next couple of decades. Bodies like the International Energy Agency (IEA), the Intergovernmental Panel on Climate Change (IPCC), and McKinsey, have suggested that conventional fossil fuels, including oil, are likely to remain in the energy mix right up to 2050s. Interestingly,  energy consultants like Wood Mackenzie have said that if global fuel consumption aligns with emission targets to limit global warming, Oil price projections in 2030 could fall as low as $40 per barrel. While Oil is expected to remain relevant, its future trajectory will depend on interplay of economic, environmental, and geopolitical factors. India is admittedly very comfortable when the Crude prices are around $60 a barrel. Today, despite two raging wars and attack on ships in the Red Sea Oil routes, Brent is at $83.55 while as of January 24, 2024, the Indian Crude Basket price stands at $78.34 per barrel! This is not bad at all.
We have to admit that Mr.Narendra Modi has been extremely lucky for India. He seems to carry the proverbial golden wand. During his watch, Crude has rarely touched $100 per barrel consistently. Imagine the shock which Mr. Manmohan Singh's government must have faced when Crude touched $100 sometime in 2008.The wars and attacks on ships in Red Sea notwithstanding, the current government has had a relatively easy time on the Oil front. In as much as, for the first time in 2022, the government had to introduce a windfall tax, primarily because the private Oil & Gas players were making humongous profits. Mr. Hardeep Singh Puri, Cabinet Minister of Petroleum & Natural Gas who also holds the position of Minister of Housing and Urban Affairs recently in a media interview at World Economic Forum Davos, said countries, including some in the Middle East, had told him they want to acquire Indian Oil Companies outright but he said, they are strategic and not for sale. This is a very significant statement however it's in sharp contrast to the avowed policy and intent of the current government to exit all businesses. The Air India Sale, as well as the failed attempt at selling Bharat Petroleum Corporation Ltd. are concrete examples. In fact, the Union Budget factors in proceeds of Sale of PSUs as revenue. Its speculated that in the Interim Budget, to be presented on February 1, government will retain its focus on disinvestment of public sector units. Some sources indicate that the target from disinvestment proceeds is likely to be kept at over Rs 50,000 Crore. A final decision on the disinvestment proceeds will be taken in the full Budget. Now what will actually come to pass, the words of Minister for MoP&NG will hold or what is propounded in the budget is to be seen. 
The continued obsession of the policy makers for disinvestment of PSUs is indeed very intriguing. Despite the setback in the sale of Bharat Petroleum Ltd. and the rather mixed track record of Air India's current performance, the zeal for total annihilation of PSUs does not seem to have abated. But as hinted by the Minister of MoP&N Gat Davos, Oil & Gas is indeed strategic. This is actually true not only for India but most countries. This time round, the attempt for sale of an Oil & Gas company could be on Indian Oil Corporation Ltd.. Many private players in India and abroad have been eyeing it for long. By all standards, IOCL makes for plumb pickings. IOCL has interests in Upstream, Midstream and Downstream sectors. It's a consolidated Oil & Gas company which has been steadily creating value and posting good returns for shareholders. It's assets can be compared to the best in the world. Since all the due diligence and monetization exercises have already been undertaken, not much time would be needed for the change of hands. Another interesting aspect is that, of late, only one of its Divisions i.e. Pipelines is making profits while the other Divisions viz. Refineries and Marketing are posting losses. All that would be required, is divest the Pipelines Division and overnight a profit making Fortune 500 Company will become loss making.. The guiding principle of a natural monopoly to common carrier has already been professed from the tree tops. The Refineries Division would then become a supplier to other Private Refiners and the Marketing Division facilities used to push their MS, Diesel, ATF & Lubes etc. There can always be ways to convince the public that it's not actually a sale but strategic alignment of a PSU for the economic betterment of the nation. The only problem which the citizens and consumers will have to face is the predictable monopoly, which is bound to happen. A few private Oil & Gas Companies will control the entire nation just as the commercial skies are today controlled by few private companies. All have witnessed how the private players in the Aviation Sector, held consumers and the nation to ransom during the recent inclement weather in Northern India. War rooms were set up but could hardly provide solutions. At least, Air India ,in its PSU avatar, never made fliers have dinner in evening chill sitting on the tarmac .What a shocker and spectacle it was for people not only in India but the world over. If IndianOil, which is one of the biggest customer facing organizations in India gets privatized the strangle hold on consumers of the private monopolies will be impossible to shake off. After all, Oil & Gas is a much larger consumer product than Air Services or Hotels, where from PSUs have been totally eradicated. The 2024 elections are going to be crucial for more things than one can imagine. In fact, in its bosom, hide several predestinations', much beyond the free will of common Indian citizens. 

By Sidhartha Mukherjee
(Copyrighted material is for fair use, duly and gratefully acknowledged)

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