Volume 8 | Issue - IV | April 2015

Journal for Sustainable Infrastructure Economy

ISSN 2349-7599Volume 8 Issue - IV April 2015

Sustainable, Clean and Green Infrastructure for a“SWACHHA BHARAT”

“MARKENOMY Conclave 2015” lays the agendafor Infra Growth for 2015-19

The Inconvenient TRUTH

present

Covering Energy & Power, State-of-the-Art Infrastructure (Ports, Airports, HighwaysIndustrial Corridors, SEZ’s & IT, Smart City Infrastructure, Urban & Rural Mass Housing Projects

Inland Waterways, Irrigation & Canal Networks, Mass Rapid Transport Systems - MRTsHigh - Speed Bullet Trains & Railway Infrastructure etc.)

APRIL 20152

6-7 LEAD STORY Asian Infrastructure Investment Bank Good for

India or Walking into Chinese Dominion?

8-9 TECH BUZZ ROLLS-ROYCE Presents MTU Engines For

Construction Equipment At Intermat

10 ECONOMY Indian Economy to Grow at 7.5% in 2015:

Moody's Analytics

11 INSURANCE FSS Signs Strategic Partnership with Entrust

Datacard to Deliver Instant Card Issuance in India

12 FISCAL GFD amounts to 23% of Annual Budget

Estimates in April 2015

13 POWER INFRA Power Minister Inaugurates Gridtech 2015

15 IBEA MEET - SAARC 2nd Meeting of the “ENERTIA Foundation -

IBEA” Thimphu Indo-Bhutan Entrepreneur Alliance (IBEA)

16 MONETARY POLICY RBI Governor Raghuram Rajan says Banks too Exposed to Infrastructure

20 CEMENT India: Cement output down 2.4% in April 2015

22 CIVIL AVIATION DGCA Upgraded to Category-I Status

23 TRANSPORT Rakesh Mohan Committee Submits its Report 24 MINING Ministry of Mines Holds Consultations on Mineral Auction Rules with States to Augment

Mineral Production and Auctioning of New Mine Blocks by the States

Inside this Issue

A. Prakash Iyer Executive Publisher & Editor, MARKENOMY

VP & Secretary, ENERTIA Foundation

Vice President - Editorial Advisory Board

Rajesh SharmaIndependent Consultant;

Former Executive Vice President,Escorts Construction Equipment Ltd.

Steffi IyerContent Research

Amruta ArgadeCirculation Co-ordination

Poonam MateSubscription

Maria IyerMedia Research

Veronica JaykumarHead Print & Layouts

Shruthi V. NairHead Design & Creative

Rashmi Ballal Head Finance & Accounts

Santosh GoenkaFormer Executive Publisher, Indian Express Group;Chairman, Better India FoundationHon. Executive Co-Chairman, MARKENOMYEditorial Advisory Board (EAB)

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Content Research

Web Channel Partners

Publishers

Official Publication of

Amit GossainAssociate VP-

Marketing and Business DevelopmentJCB India Ltd.

T. K. ModakIndependent Consultant

& Advisor in InfrastructureFounder ChairmanTKM Foundation

S. K. DharmadhikariFormer Executive VP & CTO

HCC Ltd.

P. V. S. N. MurtyHon. Regional Director-NCR

MARKENOMY& Associate Director, REPA

Mathan PrakashChief Creative Officer (CCO)

Padmini UpadhyayaDy. Director - Business Development

& CSR

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MARKENOMY& Jt. President, REPA

Dr. Hirdesh KhannaEuropean Union Chapter &

Director - EU, FSAIHon. Associate Director General, REPA

G. KannanDirector & CEO

Shin Thermo Dynamic Engineering Pvt. Ltd.

T. C. AroraHon. Associate Director, REPA

MD, AccunergyFormer Director, Toshiba India

Rajesh AgarwalChairman & Managing Director

BS Limited

FIRST SALVOSustainable, Clean and Green Infrastructure for a “SWACHHA BHARAT”

“MARKENOMY Conclave 2015” lays the agenda for Infra Growth for 2015-19

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FIRST SALVO

7

Prof. A. Gopalakrishnan IyerDistinguished Aluminums - National Institute of Technology (NIT), Kurukshetra-formerly Regional Engineering College (REC), KurukshetraFaculty of Mechanical Engineering (ME), B.Tech

Editor-in-Chief & Founder Publisher, MARKENOMY, Falcon Media; President, ENERTIA Foundation;CMD & Editor-in-Chief : ENFRAtv, ENERTIA EnfraMedia Pvt. Ltd.Email: [email protected] / [email protected]

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ISSN 2349-7599

Asian Infrastructure Investment Bank Good for India or Walking into Chinese Dominion?

LEAD STORY

6 APRIL 2015

7APRIL 2015

LEAD STORY

TECH BUZZ

8 APRIL 2015

ROLLS-ROYCE PRESENTS MTU ENGINES FOR CONSTRUCTION EQUIPMENT AT INTERMAT

Series 1000 to 1600 for EU Stage IV and EPA Tier 4 emission standardsPower spectrum ranging from 100 to 730 kW

Vehicle manufacturers present products with MTU engines

9APRIL 2015

TECH BUZZ

ew Delhi: Indian economy is Nexpected to grow marginally higher at 7.5 per cent during the

year compared with 7.2 per cent in 2014 and interest rate cuts will buttress private sector spending, said a group company of global rating agency Moody's.

"Our tracking model suggests that first quarter GDP growth is tracking around 7.3 per cent, a slowdown from prior quarters. But we expect this softness will prove temporar y w ith improv ing domestic demand to help India's GDP grow 7.5 per cent for all of 2015," Moody's Analytics said in a study.

Earlier, Moody 's Analytics had put its growth estimate for the year 2015 at 7.3 per cent, which it later "amended" to 7.5 per cent. Earlier, International Monetary Fund projected that India will overtake China as the fastest growing emerging economy in 2015-16 by clocking a growth rate of 7.5 per cent, helped by its recent policy initiatives, pick-up in investments and lower oil prices.

World Bank too has similar GDP growth forecast for India for the current fiscal year.

Moody's Analytics said, India's economy is on a cyclical upswing and forward-looking indicators suggest domestic demand is gathering momentum.

"Low inflation has enabled the Reserve Bank of India to cut interest rates by 50 basis points easing pressure on the private sector. Lower r a t e s a s w e l l a s t h e g o v e r n m e n t 's infrastructure and disinvestment programs should provide a boost to domestic-oriented industries," it said.

It further said that the government also wants more foreign businesses to invest in India, with a focus on public and private partnerships.

"Foreign investment in India has been weak because of significant red tape and taxes. The government is taking encouraging steps to reduce these burdensome regulations to entice more foreign investment," it said.

On the disinvestment front, it said the government has begun selling public sets as it plans to raise Rs 70,000 crore in fiscal 2015-2016.

"Approximately 5 per cent of the Rural Electrification Corp, a state-owned power company, was sold in early April.

Strong investor demand for the electricity company suggests that the government should have few problems selling its other assets," it said.

Moody's Analytics is of the view that "India's state-owned companies are notoriously inefficient, with significant bureaucracy and endemic corruption. Asset sales can make companies more productive and should ease the supply bott leneck s choking the economy."

Funds raised from disinvestments will be s p e n t o n d e v e l o p i n g In d i a's a i l i n g infrastructure.

"If revenues fall short, we expect the government to cut expenditure to meet its 3.9 per cent deficit target for 2015-2016. Lower government spending is a downside risk to our forecast over the coming year," it added.

10 APRIL 2015

ECONOMY

Indian Economy to Grow at 7.5% in 2015: Moody's Analytics

11APRIL 2015

INSURANCE

hennai, Tamil Nadu : Financial CSoftware & Systems (FSS), a leader in payments technolog y and

transaction processing has partnered with Entrust Datacard, world leader in card issuance and personalisation solution, to provide secured, scalable and seamless card issuance in the Indian market. Through this partnership, FSS and Entrust Datacard will offer instant, in-branch card issuance solutions to support various social security and financial inclusion initiative.

FSS has spearheaded the growth of retail & whole sale payments in India through a rich p o r t f o l i o s e r v i n g b a n k s , f i n a n c i a l institutions, merchants, governments and other verticals. With this new partnership, FSS will be offering a new instant issuance solution to financial institutions - enabling secure instant issuance of payment cards and customer-selected PI Ns on account opening. This will enhance the customer experience, drive cost savings and increase

revenue for f inancial institutions by eliminating mailing costs and giv ing consumers instant purchasing power.

Commenting on the partnership, Nagaraj Mylandla, Managing Director, FSS, said, "FSS has always been on the forefront of bringing new technologies to the payments domain in India. Today, banks in India are focusing on new technologies to build a deeper engagement with their customers. The hosted instant card issuance solution that we are introducing through our partnership with Entrust Datacard is one such technology that will assist banks in India to achieve service excellence.”

"With this new instant issuance solution banks will be able to issue a personalized secure card to their customers along with a "Green PIN" instantly after a new account is opened. In addition to providing the customer with ease of banking, banks will also gain immensely by saving cost and time.

I am confident that all banks in the country will soon move in this direction, which I foresee as another significant step in the future of retail banking.”

The rapidly growing FSS clientele includes over 100 leading global banks as well as some of the world's largest processors and retailers. In India, the FSS domestic client portfolio includes over 35 banks - featuring the majority of public and private sector banks in the country. Internationally, over 70 banks, f inancial institutions, processors and prepaid card issuers are customers of FSS.

“We are pleased to have partnered with FSS to offer instant issuance of fully personalized cards across bank branches and key locations for customers to get their cards immediately at bank account opening," said Rajiv Singh, Managing Director, Datacard, South Asia. "We believe this partnership will accelerate both financial inclusion initiatives and digital access to the payments systems."

FSS Signs Strategic Partnership with Entrust Datacard to Deliver Instant Card

Issuance in India

he Indian Government incurred Tgross fiscal deficit (GFD) of Rs.1.3 trillion in the first month of 2015-

16 itself. This was 23 per cent of the total deficit budgeted for the fiscal year. Last year, in April, the government had incurred 21.4 per cent of its annual budgeted fiscal deficit.

Non-plan expenditure rose year-on-year by 22.5 per cent to R s.1.2 trillion. Plan expenditure increased at an even faster pace of 52.7 per cent to Rs.352 billion. Thus, total expenditure rose by 28.3 per cent to Rs.1.5 trillion in April 2015.

Net tax revenue, on the other hand, turned negative in April 2015. The Rs.28.1 billion outflow during the month was mainly be on account of tax refunds. Non-tax revenue and non-debt capital receipts at Rs.281 billion and 17.8 billion, respectively, were much better than last year.

But, the rise in these was not sufficient to make up for the tax outflows.

The government financed 57 per cent of its fiscal deficit through market borrowings, which amounted to Rs.727 billion in April 2015.

12 APRIL 2015

FISCAL

GFD amounts to23% of Annual

Budget Estimatesin April 2015

Expenditure rises by 28.3%;Tax Collections Turn Negative

13APRIL 2015

POWER INFRA

iyush Goyal, Minister of State (IC) Pf o r Po w e r , C o a l & N e w a n d Renewable Energy inaugurated 5th

International Exhibition and Conference GRIDTECH. The exhibition is being organized by Power Grid Corporation of India Ltd. (POWERGRID) with the support of the Power Ministry.

The exhibition brought together various international and national manufacturers, p l a n n e r s , p o l i c y m a k e r s , i nv e s t o r s , consultants, research institutions etc., becoming the largest integrated platform where superior technologies and creative expertise in the transmission and distribution domain were displayed.

Speaking on the occasion, Goyal said, “The Prime Minister’s vision for 24/7 quality

power for all depends on the transmission and distribution sector to reach the bottom of the pyramid. With the new technologies we are bringing in, we will now create an ambitious grid programme which w il l meet the country’s demand.”

Speaking on this occasion, Shri. R N Nayak, Chairman & Managing Director, Power Grid Corporation of India said, “The government’s ambitious plan to provide 24x7 Power to all in the countr y by 2019 w il l require the deployment of latest technologies in the field of transmission, distribution, intelligent devices, information and communication technology.

Against this background, Gridtech 2015 is the foremost plat form w here a l l leading stakeholders reiterate their commitment to

bring about a transformative change in the sector thereby ensuring quality as well as affordability of power for all citizens.”

India’s transmission and distribution network is one of the largest and complicated in the world. Gridtech 2015, in turn, has become the stage w hich saw, lead ing mind s and enter pr ises coming together in their endeavour to make India’s network system the most efficient one which will help shape the Government’s dream of ‘power to all’.

The day saw various panel discussions with leading industry experts exchanging views and sharing trenchant insights on relevant topics like integration of renewable energy sources, role of smart grids and energy efficiency measures.

(Source: PIB)

Companies Showcase New Technologies in the Domain of Transmission, Distribution, Smart Grid & Renewable Energy Integration

Power Minister Inaugurates Gridtech 2015

15APRIL 2015

SAARC TakeIBEA MEET - SAARC

2nd Meeting of the “ENERTIA Foundation - IBEA” ThimphuIndo-Bhutan Entrepreneur Alliance (IBEA)

he Reserve Bank of India (RBI) Tchief said that the country's push to build infrastructure should not

come at the expense of financial stability, adding banks already had too much exposure to the sector.

Instead, Governor Raghuram Rajan said, India needed to find new sources of funding for infrastructure so that debt levels remained "moderate".

The comments, at a financial event organised by the RBI that was attended by Prime Minister Narendra Modi, come as the government says it wants US$1 trillion invested in infrastructure in the five years to 2017, with half of the funding coming from private companies.

“The nation has enormous financing needs in infrastructure, and far too many of our banks already have too much exposure," Rajan said.

"Big corporate infrastructure players have also taken too much debt. The required national push to finance infrastructure should not override financial stability, which is key to national security.”

Funding for infrastructure is expected to pose a challenge to India, whose banks, especially state-owned lenders, continue to struggle with non-performing loans.

The gross bad loans ratio at banks could rise as high as 5.7 percent by March 2016 from 4.5 percent last December, rating agency ICRA estimates.

L ast year the central bank launched infrastructure bonds, allowing banks to raise debt and use the proceeds to help fund the government's plan to provide affordable housing for all by 2022.

But issuance has been slower than expected due to low trading volumes in secondary markets.

Still, the government is pushing ahead with its ambitious infrastructure initiatives, which it sees as vital for economic growth. Finance Minister Arun Jaitley unveiled a budget in February that promised higher investment in the country's decrepit roads and railways.

(Source : Reuters)

16 APRIL 2015

MONETARY POLICY

RBI Governor Raghuram Rajan says Banks too Exposed to Infrastructure

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Cover PowerInfra Sector Has Done Well in 11th Plan… needs to sustain in 12th

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ummelled by below par-performance Pof Power, Steel and Cement sectors, the eight infrastructure industries’

output contracted 0.4 per cent in April this year. Only the coal and steel sectors recorded positive growth.

This is the second consecutive month of contraction – after the 0.1 per cent decline in March 2015 – for the eight core industries that have about 38 per cent weightage in the Index of Industrial Production (IIP). The eight core industries are Coal, Crude Oil, Natural Gas, Petroleum products, Fertiliser, Steel, Cement and Power. The growth recorded in these core sectors was far lower than the revised GDP

growth rate of 5.7 per cent reported for April 2014 (it was earlier estimated at 4.2 per cent). The only bright spot, albeit statistically only on current production basis, was that the coal sector, which recently saw a slew of reforms, recording 7.9 per cent growth in April 2015, higher than 6.2 per cent growth in April last year.

“The fact that six of the eight core industries contracted in A pr i l 2015 show s the pervasiveness of the slowdown that has led to the sector’s worst performance since April 2005” said Aditi Nayar, Senior Economist, ICRA. She said moderation in consumer price index inflation suggests a high likelihood of a repo rate cut on June 2.

“However, monetary easing is unlikely to brighten the outlook for most of the core industries, whose performance is afflicted by factors such as supply side constraints and lack of import competitiveness”, Nayar added.

Power generation contracted for the first time in the last 12 months at 1.1 per cent in April, against 11.9 per cent in April last year.

While steel output grew 0.6 per cent, cement output fell 2.4 per cent in April this year. Natural gas output contracted in April at 3.6 per cent, lower than the 7.7 per cent contraction in April last year.

20 APRIL 2015

CEMENT

India: Cement output down 2.4% in April 2015

India Vision 2032”

Summit & Conclave 20154th

CIVIL AVIATION

22 APRIL 2015

e c r e t a r y, U S D e p a r t m e n t o f STranspor tat ion, A nthony Fox x informed the Minister of Civ i l

Aviation Shri P. Ashok Gajapathi Raju that Federal Aviation Administration (FAA) has conveyed that Directorate General of Civil Aviation (DGCA) has been upgraded to Category-I status. He was leading a high level US delegation for a meeting with Civil Aviation Minister and key officers of the Ministry here today.

This meeting succeeded the series of meetings held by US President Barack Obama and the Indian Prime Minister, Shri Narendra Modi. On the occasion, a presentation was made on the growth of civil aviation sector in India to identify areas in which partnership, technical cooperation and “Make in India” can be developed.

During the meeting , opportunities of c o l l a b o r a t i o n i n d e v e l o p m e n t o f infrastructure, air safety, aviation security,

skill development, MROs, National Aviation University and manufacture of aircrafts were discussed. Two sides agreed to develop a productive relationship by establishing a Joint Working Group between the two countries.

The US delegation included Ms. Susan Kurland, Assistant Secretary for Aviation and International Affairs and Ms. Leocadia Zak, Director US Trade and Development Agency (USTDA).

(Source: PIB)

DGCA Upgraded to Category-I Status

h e N a t i o n a l T r a n s p o r t TDevelopment Policy Committee (NTDPC), constituted under the

chairmanship of Shri Rakesh Mohan, has submitted its report suggesting reforms for development of various modes of transport. These reforms are categorized as immediate reforms and long run goals. Immediate reforms have been suggested at national, state and metropolitan levels. However, long term goals are for national and metropolitan levels.

At the national level, Committee has suggested for the formation of a high-level and independent Office of Transport Strategy (OTS) and to move towards investment and strategy for transport as an integrated system. It has also suggested

National Transport Infrastructure Finance to be neutral with respect to means of delivering mobility, sustainability and inclusion goals.

At the state level, the Committee has suggested to establish urban transport as a subject to state level and to develop formal mechanisms for state participation in decisions about initiation, siting, size and other aspects of airports and rail-based transport. It has also suggested formation of state-level counterparts OTS, with particular focus on urban transport.

At metropolitan level, the Committee has s u g g e s t e d f o r c r e a t i o n o f Un i f i e d Me t ro p o l i t a n Tr a n s p o r t A u t h o r i t y

(UMTAs) as statutory authority. It further suggested independent budgets expert personnel in all urban agglomerations with population greater than three million and formation of metropol itan planning committees as per Constitutional mandate. The Committee’s recommendations include creation of public-private centres of excellence in urban transport in all cities larger than one million and investment in unified metropolitan databases.

This information was given by Minister of State for Ministry of Road Transport & Highways, Shri Pon Radhakrishnan in a written reply in the Lok Sabha .

(Source : PIB)

23APRIL 2015

TRANSPORT

Rakesh Mohan Committee Submits its Report

he Secretary Mines Dr. Anup K. TPujari has asked the states to establish the District Mineral

Foundations (DMF) quickly bringing notifications for these non-profit trusts as specifically provided in the Mines and Minerals (Development and Regulation) Amendment Act, 2015. State Governments were urged to decide on the composition and functions of the DMF and to make rules to make them functional and work for the interest and benefit of the persons and areas affected by mining related operations.

Dr. Pujari chaired the meeting called for consultat ions on the Draf t Mineral (Auction) Rules 2015 with States to a u g m e n t M i n e r a l P r o d u c t i o n a n d Auctioning of New Mine Blocks by States, in New Delhi today.

The Consultations were also held with the states on the draft National Mineral Exploration Trust Rules, 2015 and the Mineral (Mining by Government Company) Rules, 2015 and other issues of starting

production of minerals from existing mines whose 2nd and subsequent leases have been ex tended to maintain cont inuit y in production.

The Secretary Mines Dr. Anup K. Pujari also discussed with senior officers from states other issues related with the preparedness of the states for notification of the new blocks for auct ion once the Draf t Mineral (Auction) Rules 2015 are notified by the states.

Dr. Pujari asked the states to create an environment of “Ease of Business” in the states to enhance the production of Minerals in order to contribute towards growth of the Industrial production and growth of GDP in the country.

The Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2015 has been notified on 27th March, 2015 to amend the MMDR Act, 1957. The Amendment removes discretion in the grant of mineral concessions. Henceforth, all

mineral concessions will be granted by the respective State Governments only through a u c t i o n s , w h i c h w i l l b r i n g g re ate r transparency and remove discretion in allocation of mineral resources. In this process, the Government will get increased share of revenue from the mining sector. Unlike in the 1957 Act, there would be no renewal of any mineral concession.

The tenure of mineral concessions has been increased to 50 years compared to the earlier provisions of 30 years. Thereafter, all Mining Lease would be put up for auction (and not for renewal as in the earlier system).

The Meeting was attended by the Additional S e c r e t a r y M i n i s t r y o f M i n e s Shri R . Sridharan, Joint Secretaries Ministry of Mines Shri Arun Kumar, Shri Niranjan Kumar Singh, Shri Naresh Kumar and senior officers of other central ministries and the Principal Secretaries of Mines from various States.

( Source : PIB)

24 APRIL 2015

MINING

Ministry of Mines Holds Consultations on Mineral Auction Rules with States to Augment

Mineral Production and Auctioning of New Mine Blocks by the States

DM


Infrastructure Urbanization Housing & Realty Water Waste Re-sourcing Sugar Agro Economy Mining Telecom Steel Cement

Volume 8 | Issue - IV | April 2015

Documents

Transcript of Volume 8 | Issue - IV | April 2015