Highlight of Union Budget
Direct tax proposals revenue neutral
Central Sales Tax cut to 2% from 3%
Banking cash transaction tax withdrawn
Securities Transaction Tax (STT) rates unchanged
DDT unchanged at 15%
Govt to introduce commodities transaction tax, like STT
Five year tax holiday for promoting cultural tourism.
Five year tax holiday for setting up hospitals in tier II and tier III regions for providing healthcare in rural areas from April 1, 2008.
Fresh facilities, encouragement to sports and guest houses exempted from Fringe Benefit Tax.
Levy of STT only on option premiums
Short-term cap gains hiked to 15%
Fresh facilities, encouragement to sports and guest houses exempted from Fringe Benefit Tax.Production of seeds added to VAT list
5-year tax holiday for setting up hospitals in non-urban cities
10% income tax for income in the range of Rs 1.5-3 lakh
30% Income Tax For Income above Rs 5 Lakh
No change in corporate tax
Personal income tax exemption slab for women at Rs 1.8 lakh
PERSONAL INCOME TAX EXEMPTION SLAB AT RS 1.5 LAKH
Filter, non-filter cigarettes to be taxed at par
Excise duty on bulk cement at Rs 400/tonne
Exise cut on all pharma goods at 8% vs 16%
Excise duty on some paper types cut to 10% from 12%
Excise duty on hybrid cars cut from 24% to 14%
Excise duty on buses & chassis cut from 16% to 12%
Customs exempt to continue only for naptha for fertilisers
CENVAT reduced from 16% to 14% on all goods
CIGARETTES TO BE TAXED MORE
Customs on steel melting, aluminium melting cut to 0% vs 5%
Customs duty on phosphoric acid cut to 5% vs 7.5%
Few IT, hardware components exempted from customs duty
TAX: no duty on set-top boxes
Customs duty on few bulk drugs cut to 5% vs 10%
Customs duty on project imports cut to 5% vs 7.5%
Customs duty on steel scrap cut to 0% vs 5%
No change in peak customs duty
Fiscal target under FRBM Act to be met
Revenue deficit for 2007-08 at 1.4% against estimated 1.5%
FY09 fiscal target at 2.5% of GDP
Current yr fiscal deficit at 3.1% vs Budget est of 3.3%
Plan expenditure estimate at Rs 2,43,386 cr
Rs 50 cr to National Tiger Conservation Authority
Allocation of Rs 624 cr in 2008-09 for Commonwealth Games
6th Pay Commission to submit report by March 31
Three schemes to be introduced for providing social security to unorganised sector workers.
Rs 750 crore for upgradation of 300 ITIs in 25 districts.
Rs 32,676 crore as subsidy to Public Distribution System.
PDS -- Public Distribution System -- through smart cards in Haryana and Chandigarh to start on pilot basis.
Defence allocation upped to Rs 1,05,000 cr from Rs 96,000 cr
Defence allocation hiked by 10%
Differences in state duties, levies hampering securities mkt
States to help develop national securities market
Allocation for TUF at Rs 1090 cr up from Rs 911 cr
PAN requirement extended to all financial mkts
PAN sole identification in securities market
Allocation for Textile Upgradation Fund to be more than doubled.
To launch exchange traded forex, rate derivative mkt
Dollar sterilisation cost via MSS at Rs 8,351 cr for 2007-08
To allocate Rs 12,966 cr to National Highway Plan in FY09
To create risk capital fund in SIDBI
Urge to open bidding for 5 more UMPPs
Rs 450 cr provision for textile parks
All 30 integrated textile parks approved
NELP-VII to attract investments worth $3.5-8 bn
Coal regulator to be established, more reforms in coal, electricity
National fund for power transmission, distribution
Plan Rs 800 cr for accelerating power reform in FY09
Bank of Mah says should not be negative if govt reimburses
Growth in cap goods still healthy at 20.2%
Looking at moving to nutrient-based fertiliser subsidies
FDI in Apr-Dec USD12.7 bn; FII USD18 bn
Rs 50,000 cr WAIVER FOR FARMERS
Total agri loan waiver estimated at Rs 50,000 cr
Debt waiver scheme to be completed by June 2008
Rescheduled loans also eligible for waiver
One-time settlement scheme for other farmers
Waiver amounts to 4% of total bank loans
Complete loan waiver for marginal farmers with 1-2 hec holding
Complete waiver of all loans to marginal & small farmers
Scheme of debt waiver and relief for Small and marginal farmers
Govt proposes move to nutrient based fertilser subsidies scheme
Rs 18 cr allocated for coffee in FY09
National agri insurance plan to get Rs 64 cr in FY09
Perpetual fund for rubber, cardamom in FY09
Rubber Fund to get Rs 19 cr in FY09
Special purpose tea fund to get Rs 40 cr in FY09
Irrigation resources fin to have Rs 100 cr capital
To set up irrigation, water resources finance corp
24 major, 750 irrigation projects in FY09
FY09 Irrigation outlay seen at Rs 20,000 cr Vs Rs 11,000 cr
Aim to hike farm contribution to GDP to 1.6% in 11th Plan
75% farm credit by Scheduled Cmmercial Banks
288 PSU Bank Branches to be opened in backward areas by March
Plan addl Rs 10,000 cr capital expenditure this year
Agri credit target at Rs 2.8 lakh cr for 2008-09
LIC to cover all women SHGs linked to Banks
3 National Fin Corporations for weaker sections get Rs 105 Cr
Allocation To Ministry For Minorities Doubled To Rs 1000 Cr
National Minority Development Fin Corporation gets Rs 75 cr
Allocation to North-East at Rs 16,447 cr vs Rs 14,365 cr
Rs 300 cr allocated to desalination plant to be set up near Chennai
Rajiv Gandhi Drinking Water Mission To Get Rs 7300 Cr From Rs 6500 Cr
Allocation to ICDS hiked to Rs 6,300 cr
Allocation To JNURM Hiked To Rs 6,866 Cr From Rs 5,482 Cr
NREGS extended to all 596 rural districts; allocated Rs 16,000 cr
Rs 1,042 cr allocated for Polio eradication in UP, Bihar
Health Cover Of Rs 30,000 For Every Worker In BPL Category
To allot Rs 100 cr to IT Ministry to link knowledge institutes
Impact of US slowdown on EMs not clear
Allocation of Rs 16,534 cr for health in '08-'09
National Rural Health Mission Allocation Hiked by 15%
Govt To Set Up 3 IITs; One Each In AP, Bihar, Rajasthan
To set up 3 IISCs in Bhopal and Trivandrum
Midday meal scheme extended to upper primary classes in all blocks
Sarva Shiksha Abhiyan will be provided Rs 13,100 cr
16 Central Universities To Be Set Up
6,000 high quality schools to be built by FY09
FY09 Gross Budgetary Support At Rs 2.4 Lakh Cr
Education, health allocation up 20%
Bharat Nirman Programme gets allocation of Rs 31280 cr
'Can Do Better' On Ensuring More Inclusive Growth
FY08 Farm Growth Seen At 2.6%
Agri Credit Doubled In First 2 Yrs Of UPA Govt
Need to be vigilant on global risks
Govt, RBI To Jointly Take Temporary Steps To Manage Cap Inflows
Capital Inflows In Excess Of Economic Deficit
To Take Steps On Foreign Inflows To Ensure Stable Mkts
Govt will monitor foreign fund inflow: FM
Global Markets Weak Since Aug, Impact On Local Market Unclear
8% GDP Growth In 12 Successive Quarters
Keeping inflation under check cornerstone of govt policy
FM Says Confident Of Maintaining 8.8% GDP Growth
Agriculture estimated to grow at 2.6% in FY08
Q3 Mfg Growth At 9.3% Vs 11.3% (YoY)
Q3 Farm Growth At 3.2% Vs~3.4% (YoY)
Q3 GDP At 8.4% Vs 9.1% (YoY)
Thursday, February 28, 2008
Union Budget 2008-2009- Sector Impact
- Sector Impact
Corporate Bond market to reduce Interest Costs: Positive For Infrastructure Companies
10% Higher Defence Allocation: Positive BEL, BEML, Astra Micro, Zen, M&MSmart Cards for PDS, National Electronic Trading Projects: TCS, HCL in Focus
NELP VII focus: Positive for E&P Cos and FDI in Oil & Gas Sector
Higher Outlay for Swan Project; Focus Tulip IT
Higher TUF Outlay: Positive Textile companies
New T&D Fund; Positive for Areva T&D, Jyoti Structures, EMCO
Urge To Open Bidding For Five More UMPP's: Positive for Power Generation Companies
Subvention Payment To Neutralize: Negative Impact For PSU Banks
Higher Rural Thrust; PSU Bank's Credit Quality To Be Impacted
Farmer Oriented Policies: Positive For Oswal Chem, Deepak FertFarmer Oriented Policies: Positive For Advanta, Kaveri Seeds
Shift To Nutrient Based Subsidy Mooted: Positive for Fertiliser Co's
Govt To Waive Off Agri Loans; Negative For PSU Banks Crop Insurance Scheme for Tea; Positive for Jayshree Tea, Williamson
Higher Rural Thrust; PSU Bank's Credit Quality To Be Impacted
Higher Focus on Seed Cultivation; Positive for Monsanto, Advanta
Higher Irrigation Outlay: Positive for Welspun Guj, Jindal Saw, Ratnamani
Increased Subvention from Govt for Agri Loans; Positive For All PSU Banks
Higher Agri Credit: Positive for Punjab Tractors, Jain Irrigation
Increased Allocation to Bharat Nirman Program; Positive For Infra Sector
Increase In Education Spending; Positive For Paper Prod, Todays Writing
Increase In Education Spending: Positive For Malu Paper,Rama Newsprint
Increased Focus On Health Sector; Positive For Pharma CosHigher Outlay For Polio, HIV Eradication; Positive for Panacea Biotech & Cipla
Educational sector: Employment pool for KPO's will benefit IT sector
20% Higher Outlay For Education; Positive for Educomp, Everonn, Aptech, NIIT, Navneet Publication
High Light of Budget 2008-2009 part 1
6000 high quality schools to be built by FY09
FY09 Gross Budgetary Support At Rs 2.4 Lakh Cr
Education, health allocation up 20%
Bharat Nirman Programme gets allocation of Rs 31280 cr
'Can Do Better' On Ensuring More Inclusive Growth
FY08 Farm Growth Seen At 2.6%
Agri Credit Doubled In First 2 Yrs Of UPA Govt
Need to be vigilant on global risks
Govt, RBI To Jointly Take Temporary Steps To Manage Cap Inflows
Capital Inflows In Excess Of Economic Deficit
To Take Steps On Foreign Inflows To Ensure Stable Mkts
Govt will monitor foreign fund inflow: FM
Global Markets Weak Since Aug, Impact On Local Market Unclear
8% GDP Growth In 12 Successive Quarters
Keeping inflation under check cornerstone of govt policy
FM Says Confident Of Maintaining 8.8% GDP Growth
Agriculture estimated to grow at 2.6% in FY08
Q3 Mfg Growth At 9.3% Vs 11.3% (YoY)
Q3 Farm Growth At 3.2% Vs~3.4% (YoY)
Q3 GDP At 8.4% Vs 9.1% (YoY)
3 National Fin Corporations for weaker sections get Rs 105 Cr
Allocation To Ministry For Minorities Doubled To Rs 1000 Cr
National Minority Development Fin Corporation gets Rs 75 cr
Allocation to North-East at Rs 16,447 cr vs Rs 14,365 cr
Rs 300 cr allocated to desalination plant to be set up near Chennai
Rajiv Gandhi Drinking Water Mission To Get Rs 7300 Cr From Rs 6500 Cr
Allocation to ICDS hiked to Rs 6,300 cr
Allocation To JNURM Hiked To Rs 6,866 Cr From Rs 5,482 Cr
NREGS extended to all 596 rural districts; allocated Rs 16,000 cr
Rs 1,042 cr allocated for Polio eradication in UP, Bihar
Health Cover Of Rs 30,000 For Every Worker In BPL Category
To allot Rs 100 cr to IT Ministry to link knowledge institutes
Impact of US slowdown on EMs not clear
Allocation of Rs 16,534 cr for health in '08-'09
National Rural Health Mission Allocation Hiked by 15%
Govt To Set Up 3 IITs; One Each In AP, Bihar, Rajasthan
To set up 3 IISCs in Bhopal and Trivandrum
Midday meal scheme extended to upper primary classes in all blocks
Sarva Shiksha Abhiyan will be provided Rs 13,100 cr
16 Central Universities To Be Set Up
FY09 Gross Budgetary Support At Rs 2.4 Lakh Cr
Education, health allocation up 20%
Bharat Nirman Programme gets allocation of Rs 31280 cr
'Can Do Better' On Ensuring More Inclusive Growth
FY08 Farm Growth Seen At 2.6%
Agri Credit Doubled In First 2 Yrs Of UPA Govt
Need to be vigilant on global risks
Govt, RBI To Jointly Take Temporary Steps To Manage Cap Inflows
Capital Inflows In Excess Of Economic Deficit
To Take Steps On Foreign Inflows To Ensure Stable Mkts
Govt will monitor foreign fund inflow: FM
Global Markets Weak Since Aug, Impact On Local Market Unclear
8% GDP Growth In 12 Successive Quarters
Keeping inflation under check cornerstone of govt policy
FM Says Confident Of Maintaining 8.8% GDP Growth
Agriculture estimated to grow at 2.6% in FY08
Q3 Mfg Growth At 9.3% Vs 11.3% (YoY)
Q3 Farm Growth At 3.2% Vs~3.4% (YoY)
Q3 GDP At 8.4% Vs 9.1% (YoY)
3 National Fin Corporations for weaker sections get Rs 105 Cr
Allocation To Ministry For Minorities Doubled To Rs 1000 Cr
National Minority Development Fin Corporation gets Rs 75 cr
Allocation to North-East at Rs 16,447 cr vs Rs 14,365 cr
Rs 300 cr allocated to desalination plant to be set up near Chennai
Rajiv Gandhi Drinking Water Mission To Get Rs 7300 Cr From Rs 6500 Cr
Allocation to ICDS hiked to Rs 6,300 cr
Allocation To JNURM Hiked To Rs 6,866 Cr From Rs 5,482 Cr
NREGS extended to all 596 rural districts; allocated Rs 16,000 cr
Rs 1,042 cr allocated for Polio eradication in UP, Bihar
Health Cover Of Rs 30,000 For Every Worker In BPL Category
To allot Rs 100 cr to IT Ministry to link knowledge institutes
Impact of US slowdown on EMs not clear
Allocation of Rs 16,534 cr for health in '08-'09
National Rural Health Mission Allocation Hiked by 15%
Govt To Set Up 3 IITs; One Each In AP, Bihar, Rajasthan
To set up 3 IISCs in Bhopal and Trivandrum
Midday meal scheme extended to upper primary classes in all blocks
Sarva Shiksha Abhiyan will be provided Rs 13,100 cr
16 Central Universities To Be Set Up
Economic survey of India 2007-2008
Economic Survey suggests removal of remaining controls on sugar, fertiliser & drug cos; FM confident of avg 9% growth in 11th plan
Economic survey ahead of the Budget says that maintaining 9% rate which is challenging. A double-digit growth is tougher still and a decleration was expected this year. Survey finds fundamentals 'inspire confidence' and an investment climate is 'full of optimism'.
Survey further mentions that revenue deficit is unlikely to be zero next year. Fiscal deficit target of 3% will be met and deficit targets for this year will be achieved. States will turn revenue surplus this year. Survey says that tighter fiscal deficit targets have been proposed for coming years.
As per the survey, inflation is seen lower at 4.1% this year Vs 5.6% last year. Inflation is mainly led by the primary non-food items. Fuel & Power group are the prime contributors to inflation. Investment goods inflation declines to 4.3%. Survey states that current inflation level is positive for investment.
The budget estimates will be increased by Rs 6550 crore over the budget estimates. Survey says that ADR/GDR are important for corporate resource mobilisation. It pointed out that there are greater debt & equity issues in primary market. Insurance and Pension reforms are important for capital markets.
Economic Survey points out that higher relative returns make India an attractive investment destination. India's economic fundamentals are strong and the corporate earnings are expected to be strong. The survey informs that Indian rupee has gone up 9.8% Vs dollar since April '07.
Policy options as per the economic survey are as follows:
1) Some FDI is expected in retail trade.
2) 100% FDI is expected in home appliances and luxury brand chains.
3) 51% FDI in rural-health, weather-cover insurance.
4) 49% FDI in other insurance sectors.
5) 100% FDI in new rural agricultural banks.
6) Freedom to expand and takeover other private banks.
7) Sell old oil blocks for enhanced oil recovery.
8) Amend factories act to allow 60-hour working week.
9) Remove remaining controls on Sugar, Fertiliser, Drug.
10) Disinvest 5-10% in non-navaratnas.
11) List unlisted PSUs with 10% equity sale.
12) Enact new bankruptcy law.
SEBI Panel is working on public issue price discovery. At present, there are 1,219 registered FIIs Vs 1,044 (YoY) and 3,644 FIIs sub accounts Vs 3045 (YoY). Capital inflow including FDI will continue in medium-term. Capital inflows are putting pressure on the prices, the survey informs.
The fall in inflows may affect the equity markets in the short-term. Pressure of rupee rise may ease as capital flows slow. Slower FY08 growth may dampen capital inflows. Survey further says that maintaining current growth level is a challenge. It points out that FDI limit of 26% in insurance sector is 'too low'. It also says that margins and fees are detering the farmer entry into commodity futures. The regulators need to stay alert to avoid irregularities, the survey informs.
Finance Minister P Chidambaram said that he is optimistic about containing inflation in coming year and is confident of average 9% growth in 11th plan. He continue to ensure that climate is conducive for investment and there is no need to ensure non-inflationary growth.
Economic survey ahead of the Budget says that maintaining 9% rate which is challenging. A double-digit growth is tougher still and a decleration was expected this year. Survey finds fundamentals 'inspire confidence' and an investment climate is 'full of optimism'.
Survey further mentions that revenue deficit is unlikely to be zero next year. Fiscal deficit target of 3% will be met and deficit targets for this year will be achieved. States will turn revenue surplus this year. Survey says that tighter fiscal deficit targets have been proposed for coming years.
As per the survey, inflation is seen lower at 4.1% this year Vs 5.6% last year. Inflation is mainly led by the primary non-food items. Fuel & Power group are the prime contributors to inflation. Investment goods inflation declines to 4.3%. Survey states that current inflation level is positive for investment.
The budget estimates will be increased by Rs 6550 crore over the budget estimates. Survey says that ADR/GDR are important for corporate resource mobilisation. It pointed out that there are greater debt & equity issues in primary market. Insurance and Pension reforms are important for capital markets.
Economic Survey points out that higher relative returns make India an attractive investment destination. India's economic fundamentals are strong and the corporate earnings are expected to be strong. The survey informs that Indian rupee has gone up 9.8% Vs dollar since April '07.
Policy options as per the economic survey are as follows:
1) Some FDI is expected in retail trade.
2) 100% FDI is expected in home appliances and luxury brand chains.
3) 51% FDI in rural-health, weather-cover insurance.
4) 49% FDI in other insurance sectors.
5) 100% FDI in new rural agricultural banks.
6) Freedom to expand and takeover other private banks.
7) Sell old oil blocks for enhanced oil recovery.
8) Amend factories act to allow 60-hour working week.
9) Remove remaining controls on Sugar, Fertiliser, Drug.
10) Disinvest 5-10% in non-navaratnas.
11) List unlisted PSUs with 10% equity sale.
12) Enact new bankruptcy law.
SEBI Panel is working on public issue price discovery. At present, there are 1,219 registered FIIs Vs 1,044 (YoY) and 3,644 FIIs sub accounts Vs 3045 (YoY). Capital inflow including FDI will continue in medium-term. Capital inflows are putting pressure on the prices, the survey informs.
The fall in inflows may affect the equity markets in the short-term. Pressure of rupee rise may ease as capital flows slow. Slower FY08 growth may dampen capital inflows. Survey further says that maintaining current growth level is a challenge. It points out that FDI limit of 26% in insurance sector is 'too low'. It also says that margins and fees are detering the farmer entry into commodity futures. The regulators need to stay alert to avoid irregularities, the survey informs.
Finance Minister P Chidambaram said that he is optimistic about containing inflation in coming year and is confident of average 9% growth in 11th plan. He continue to ensure that climate is conducive for investment and there is no need to ensure non-inflationary growth.
Tuesday, February 26, 2008
Laloo Prasad Yadav presented the Railways Budget Report
Railways Minister, Laloo Prasad Yadav presented the Railways Budget Report before the Parliament today; his last full Budget for this UPA Government.
According to the Report, the Railways have a cash surplus of Rs 25000 crore in FY08. Its operating ratio is at 76%. Its work force stood at 14 lakh workers in FY08. The Minister informed that reduced fares increased volumes and profits.
Some highlights of the Railway Minister's speech:
Rs 68788 cr for 5 years cash surplus
Dividend of Rs 88 rupees
There were lean season discounts offered
Peak season attracted surcharges
Railway Fund Balance up at Rs 20,480 cr
Railways adopted tariff to up market share; revenue
Apr-Dec freight loading revenue is up 8-10% at Rs 34,700 cr
Railways will look at leveraging telecom boom for ticketing
There will be an increase in ticketing counters to 15,000 in 2 years from the current 3,000 now
Revenue from passenger fares increased by 14%
FY09 freight loading seen at 790 MT vs 785 MT in FY08
FY08 rail operating ratio at 76.3%
Trials for mobile ticketing have already started
Railways to launch the Go-Mumbai Card/ Smart Card
Online information display in overnight trains of long distance
Rs 4000 cr to be spent on 36000 coaches for greent toilets in next 5 year plan
Low mainenance and more comfortable stainless steel coaches to be introduced from 2010
To have online control of trains in 2 years
To link trains via software communication by 2009
New coaches in all Rajdhani trains by 2010-11
To start making steel coaches from FY09
Level of Platforms to be upgraded for passenger convenience
30 Bigger stations to have multi level parking system
50 large stations to have lifts / escalators- for convenience of senior citizens
233 million ton loading was done in the year
Additional earnings of Rs 2000 cr on freight service
To upgrade infrastructure in 7 years at Rs 75,000 cr
310 mn tonnes of additional freight loading in the next 3 yrs
75000 cr in next 7 yrs to further develop saturated transportation lines
To up auto ticket sale machines to 6,000 in 2 years
Plan to set up 20,000 km high density network
FY08 coal freight loading seen at 336 MT
Work on connecting road for Pipavav Port completed
25 tonne and 30 tonne axel load trains allowed for iron ore transport
100 mn tonne business from cement industry
200 mn target targeted till 2011
50 new terminals to be developed for storage
SPV for links to Mundra, Kandla, Krishnapatnam ports
25-30 tonne axle load trains to be started
Annual steel traffic aim of 200 mt in 2011 vs 120 mt now
To manufacture 20000 wagons in 2008-09
To manufacture wagons having capacity of 22.9 tonnes in 2008-09
50 big terminals planned in Mumbai, Pune, Ghaziabad
Concor to set up 8 depots
Wagons would be available on lease here on
Have 15 licensed operators for container trains
To increase container train operators to 50-55 trains
To have new wagon leasing policy
New Bulk handling facilities to be erected for cement
No busy season surcharge for cement transported in bulk via new facilities
To have new policy for bulk handling terminals
Special focus on door to door and value added services
No busy season surcharge for bulk cement transport via new facilities
SBUs (Strategic Business Unit) planned for cement, steel, coal, container sectors
Rs 250,000 cr worth of funds required by the Railways over the next 5 years for IT upgradation
1 lakh crore worth of PPP (Public Private Partnerships) planned over the next 5 years
Will look at multi model parks for Railways at various locations
Railway property to fetch 4000 crore in 2008-09
CCTVs and metal detectors to be put up at all stations
60 yrs and older passengers get 30% discount, female above 60 get 50% discount
Plan fire prevention device in coaches on pilot basis
Anti-fire gear to cost Rs 7,000 cr if pilot successful
Mother-Child Healthcare Express to be run in alliance with Rajiv Gandhi Foundation
Group-D railway examinations to be taken in Urdu also, where it is the second language
According to the Report, the Railways have a cash surplus of Rs 25000 crore in FY08. Its operating ratio is at 76%. Its work force stood at 14 lakh workers in FY08. The Minister informed that reduced fares increased volumes and profits.
Some highlights of the Railway Minister's speech:
Rs 68788 cr for 5 years cash surplus
Dividend of Rs 88 rupees
There were lean season discounts offered
Peak season attracted surcharges
Railway Fund Balance up at Rs 20,480 cr
Railways adopted tariff to up market share; revenue
Apr-Dec freight loading revenue is up 8-10% at Rs 34,700 cr
Railways will look at leveraging telecom boom for ticketing
There will be an increase in ticketing counters to 15,000 in 2 years from the current 3,000 now
Revenue from passenger fares increased by 14%
FY09 freight loading seen at 790 MT vs 785 MT in FY08
FY08 rail operating ratio at 76.3%
Trials for mobile ticketing have already started
Railways to launch the Go-Mumbai Card/ Smart Card
Online information display in overnight trains of long distance
Rs 4000 cr to be spent on 36000 coaches for greent toilets in next 5 year plan
Low mainenance and more comfortable stainless steel coaches to be introduced from 2010
To have online control of trains in 2 years
To link trains via software communication by 2009
New coaches in all Rajdhani trains by 2010-11
To start making steel coaches from FY09
Level of Platforms to be upgraded for passenger convenience
30 Bigger stations to have multi level parking system
50 large stations to have lifts / escalators- for convenience of senior citizens
233 million ton loading was done in the year
Additional earnings of Rs 2000 cr on freight service
To upgrade infrastructure in 7 years at Rs 75,000 cr
310 mn tonnes of additional freight loading in the next 3 yrs
75000 cr in next 7 yrs to further develop saturated transportation lines
To up auto ticket sale machines to 6,000 in 2 years
Plan to set up 20,000 km high density network
FY08 coal freight loading seen at 336 MT
Work on connecting road for Pipavav Port completed
25 tonne and 30 tonne axel load trains allowed for iron ore transport
100 mn tonne business from cement industry
200 mn target targeted till 2011
50 new terminals to be developed for storage
SPV for links to Mundra, Kandla, Krishnapatnam ports
25-30 tonne axle load trains to be started
Annual steel traffic aim of 200 mt in 2011 vs 120 mt now
To manufacture 20000 wagons in 2008-09
To manufacture wagons having capacity of 22.9 tonnes in 2008-09
50 big terminals planned in Mumbai, Pune, Ghaziabad
Concor to set up 8 depots
Wagons would be available on lease here on
Have 15 licensed operators for container trains
To increase container train operators to 50-55 trains
To have new wagon leasing policy
New Bulk handling facilities to be erected for cement
No busy season surcharge for cement transported in bulk via new facilities
To have new policy for bulk handling terminals
Special focus on door to door and value added services
No busy season surcharge for bulk cement transport via new facilities
SBUs (Strategic Business Unit) planned for cement, steel, coal, container sectors
Rs 250,000 cr worth of funds required by the Railways over the next 5 years for IT upgradation
1 lakh crore worth of PPP (Public Private Partnerships) planned over the next 5 years
Will look at multi model parks for Railways at various locations
Railway property to fetch 4000 crore in 2008-09
CCTVs and metal detectors to be put up at all stations
60 yrs and older passengers get 30% discount, female above 60 get 50% discount
Plan fire prevention device in coaches on pilot basis
Anti-fire gear to cost Rs 7,000 cr if pilot successful
Mother-Child Healthcare Express to be run in alliance with Rajiv Gandhi Foundation
Group-D railway examinations to be taken in Urdu also, where it is the second language
Tuesday, February 19, 2008
Do you know where is City Called " Vedic City":?
Do you know where is City Called " Vedic City":? and where does every body say RAAM with respect.....?
Hey you are wrong its not INDIA.......
it is not located in India.......................................
So where is it?
its in USA.....Vedic City, or Maharishi Vedic City, is a city located in Jefferson County, Iowa (USA)
Details :
1) Geography:
The total population, currently about 200, is expected by its planners to reach 1,200 by the year 2010. Vedic City is Iowa's newest city and follows Maharishi Mahesh Yogi's views on architectural design that form part of his Maharishi Vedic Science, the foundation of Transcendental Meditation.
Vedic City is located approximately two miles north of Fairfield, Iowa, the home of the Maharishi University of Management.
2) Government:
Vedic City is administered by a five-person city council and a mayor. Few laws or ordinances exist, citing natural law as the governing principle of the city. The current mayor is Dr. Bob Wynne.
3)History:
The idea for Vedic City, a centralized location to practice Transcendental Meditation, was conceived in 1991 by Chris Johnson, a real estate developer from San Francisco.. This idea evolved into a working municipality centered on the principles and teachings of Maharishi Mahesh Yogi, including his views on architectural design. These views, part of Maharishi Vedic Science, are claimed by Maharishi to promote happiness and energy, and include having a gold kalash on the roof of each building and having all structures face to the east.
Maharishi Mahesh Yogi,
CURRENCY:
On February 24, 2002, Maharishi Vedic City began to distribute locally Raam Mudra, the currency of the Global Country of World Peace. The City Council adopted Raam Mudra as the ideal local currency to support economic development in the city and development of local businesses and organizations wishing to accept that currency.
Raam Mudra is available in beautiful one, five and ten Raam paper notes. There is a fixed exchange rate of one Raam for $10.
The Global Country of World Peace is dedicated to creating world peace through the establishment of a group of 40,000 Vedic Scholars in India, and the eradication of poverty throughout the world through large Vedic organic agriculture projects in developing countries that will raise the standard of living and quality of life in those countries and will help make those nations self-sufficient.
Of course, dollars are also accepted in the City, as are credit cards. Change of less than one Raam is given in US currency.
Raam Mudra is available in beautiful one, five and ten Raam paper notes. There is a fixed exchange rate of one Raam for $10.
Hey you are wrong its not INDIA.......
it is not located in India.......................................
So where is it?
its in USA.....Vedic City, or Maharishi Vedic City, is a city located in Jefferson County, Iowa (USA)
Details :
1) Geography:
The total population, currently about 200, is expected by its planners to reach 1,200 by the year 2010. Vedic City is Iowa's newest city and follows Maharishi Mahesh Yogi's views on architectural design that form part of his Maharishi Vedic Science, the foundation of Transcendental Meditation.
Vedic City is located approximately two miles north of Fairfield, Iowa, the home of the Maharishi University of Management.
2) Government:
Vedic City is administered by a five-person city council and a mayor. Few laws or ordinances exist, citing natural law as the governing principle of the city. The current mayor is Dr. Bob Wynne.
3)History:
The idea for Vedic City, a centralized location to practice Transcendental Meditation, was conceived in 1991 by Chris Johnson, a real estate developer from San Francisco.. This idea evolved into a working municipality centered on the principles and teachings of Maharishi Mahesh Yogi, including his views on architectural design. These views, part of Maharishi Vedic Science, are claimed by Maharishi to promote happiness and energy, and include having a gold kalash on the roof of each building and having all structures face to the east.
Maharishi Mahesh Yogi,
CURRENCY:
On February 24, 2002, Maharishi Vedic City began to distribute locally Raam Mudra, the currency of the Global Country of World Peace. The City Council adopted Raam Mudra as the ideal local currency to support economic development in the city and development of local businesses and organizations wishing to accept that currency.
Raam Mudra is available in beautiful one, five and ten Raam paper notes. There is a fixed exchange rate of one Raam for $10.
The Global Country of World Peace is dedicated to creating world peace through the establishment of a group of 40,000 Vedic Scholars in India, and the eradication of poverty throughout the world through large Vedic organic agriculture projects in developing countries that will raise the standard of living and quality of life in those countries and will help make those nations self-sufficient.
Of course, dollars are also accepted in the City, as are credit cards. Change of less than one Raam is given in US currency.
Raam Mudra is available in beautiful one, five and ten Raam paper notes. There is a fixed exchange rate of one Raam for $10.
Re 1 as face value of shares for all listed cos
Primary Markets Advisory Committee recommends Re 1 as face value of shares for all cos
PMAC (Primary Markets Advisory Committee) had a meeting yesterday and they are finalising this recommendation that all the listed companies should have a face value of Re 1 and now this recommendation has gone to the SEBI board, which will take a final view within 2-3 weeks. The basic argument behind this recommendation is that if there is a uniform value for listed companies, it is easy for the investor to understand EPS or P/E and it will be easy for them to understand the market. So, that is the basic argument and with this basic argument they have sent the recommendation.
The timeline says that within 2-3 weeks, SEBI board will take a final view, after that all the companies will have to split their stock, whether the face value is Rs 10 or 50 or 100 or 200 or 500. So, the ultimate result is within six months - that is the timeline that they are expecting - we will have a face value of Re 1 for all the listed companies and it will result in more floating stock for all listed companies and it will be good for all investors.
PMAC (Primary Markets Advisory Committee) had a meeting yesterday and they are finalising this recommendation that all the listed companies should have a face value of Re 1 and now this recommendation has gone to the SEBI board, which will take a final view within 2-3 weeks. The basic argument behind this recommendation is that if there is a uniform value for listed companies, it is easy for the investor to understand EPS or P/E and it will be easy for them to understand the market. So, that is the basic argument and with this basic argument they have sent the recommendation.
The timeline says that within 2-3 weeks, SEBI board will take a final view, after that all the companies will have to split their stock, whether the face value is Rs 10 or 50 or 100 or 200 or 500. So, the ultimate result is within six months - that is the timeline that they are expecting - we will have a face value of Re 1 for all the listed companies and it will result in more floating stock for all listed companies and it will be good for all investors.
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