POWER
Only 2,940 MW added during the 10th Plan
The Andhra Pradesh Government has admitted that the State could achieve a capacity addition of only 2,940 MW against the programmed capacity addition of 4, 257 MW during the Tenth Plan period. The low realisation of capacity addition was mainly due to failure in gas supply by State-owned fuel suppliers. Till now, around 2,000 MW capacity is lying idle for want of gas, the Chief Minister, Dr Y.S. Rajasekhara Reddy, has said.
During the 11th plan (2007-12), it is proposed to add 13,661 MW capacity under State, Central and private sectors. So far, 1,190 MW has been added, bringing the total capacity in the State to 13,186 MW, an official release said. more...
EU sees potential for renewable energy tie-ups
With the European Union charting out a strategy to ensure 20 per cent of its energy requirement comes from renewable energy sources by 2020, opportunities for cooperation in wind and photovoltaic power generation segments are set to grow.
A decision to ensure that there is increased contribution from renewable energy sources was taken in late 2008. This presents opportunities for vendors to explore opportunities, according to senior officials from the European Commission. Explaining some of the recent initiatives by the EU at a seminar hosted by European Commission in Hyderabad, its representatives said most member-States have begun to subsidise solar and wind power generation, which continues to be a high-cost energy option at this point. more...
INFRASTRUCTURE
Highway developers up in arms against new threshold limit clause
The highway developers’ lobby body – National Highways Builders Federation (NHBF) – has written to the National Highways Authority of India (NHAI) and the Road Transport Ministry against a clause on technical threshold capacity in the new request for qualification (RFQ) set for highway projects. According to the new threshold limit clause, in order to bid for a project of a certain total cost, the bidder should have had the experience of implementing projects at least twice that cost in the preceding five years. In the earlier version of the RFQ, the clause stated that the bidder should have collected an amount equivalent to the project cost in the five-year preceding period. more...
ECONOMY
‘Economic slowdown throws up challenges as well as opportunities’
Economic slowdown – both local and global – throws up challenges as well as opportunities for corporates and the policy-makers. This view was expressed by several speakers at a seminar organised by Confederation of Indian Industry here on Friday.
Mr Kurush Grant, Deputy Chairman of CII (ER), said the industry and business houses should conceive strategies to avail themselves of opportunities for growth and expansion at this juncture. The unsettled economic conditions would also present opportunities for cheaper recruitment of talented professionals from firms that were struggling, he added. “Companies should at this point identify and resolve critical issues to protect themselves against value erosion. A holistic review of the ability of the company to access, manage and release cash along with controlling costs is important in managing risks from changes in market forces,” he added. more...
Indian economy returning to potential growth path: Goldman
The Indian economy and the financial sector are returning to a "potential growth path" after adjusting to intense dislocation in the global economic environment, financial services major Goldman Sachs said. "We believe the Indian economy and the financial sector are returning back to a potential growth path, post a period of adjustment to the intense dislocation in the global economic environment," Goldman Sachs said in a report.
Goldman expects its net income growth for the financial sector to rebound to 32 percent in 2010, from one percent in 2009. The firm further said it is turning constructive on the Indian financial sector due to improving outlook for the macroeconomic environment, positive impact of a decisive election outcome on potential policy action and government agenda as well as on business confidence. more...
POLITICS
Change mindset, promote young leaders: Advani
Veteran Bharatiya Janata Party (BJP) leader LK Advani Sunday asserted that the party's leadership should shed its "train compartment mentality" and evolve a system to encourage young leaders. Delivering the concluding address to the party's two-day national executive meeting here, Advani said: "The party has to urgently evolve a system of encouraging younger leaders at all levels. "But I have heard many young activists tell me that they are not given opportunity to serve the party more effectively," said Advani, 81. He lamented: "It is sad that a certain 'train compartment mentality' has got developed within the party, which makes those in leadership positions to ignore promising, talented and committed cadres who are standing 'outside' and waiting for the door to open." more...
Naxal situation in Lalgarh still sensitive: Chidambaram
The situation in West Bengal's Lalgarh area, where security forces are fighting to clear a Maoist siege, is "sensitive" and "tense", home minister P Chidambaram said on Sunday while asking political leaders to avoid going to the conflict zones. "The situation in Lalgarh is sensitive and continues to be tense," he said while also making a reference to a call for a two-day bandh from Monday given by the CPI-Maoist in five naxal-affected states of Bihar, Chhattisgarh, Jharkhand, Orissa and West Bengal.. "I appeal to all citizens especially political leaders, NGOs and others not to go to the conflict areas," he said in a statement here. more...
TELECOM
RCom, China Mobile in tie-up talks
Anil Ambani-controlled Reliance Communications (RCom) has started preliminary talks with China Mobile, the world’s largest mobile company, for a strategic alliance and possible equity participation of 5 to 6 per cent. In February, Wang Jianzhou, China Mobile’s chairman and CEO, told Business Standard at the Mobile World Congress in Barcelona that the company was keen to expand to India. China Mobile has over 450 million subscribers.RCom, which offers CDMA mobile telecom services and started GSM services a few months ago, has over 70 million customers. more...
DoT mulls revamping spectrum management body
The Department of Telecom is planning a complete revamp of the Wireless Planning Coordination wing in order to improve spectrum management and better the processes being followed currently. One of the proposals under the plan is to push for a comprehensive Spectrum Act through an Act of the Parliament providing a legal basis for taking away spectrum from operators which do not use it efficiently. “There is at present no statute specifically designed to create the structure of rights and obligations on spectrum licences on the lines of those existing in other countries. There is also a need to constantly compare the amount of spectrum assigned to a service provider with the amount of spectrum actually used by them to ensure that the spectrum is used in an efficient manner,” states DoT paper on re-organising the spectrum management body. more...
INTERNATIONAL
US, UK, Japan's total debt 25-times higher than India
In their efforts to tackle the financial crisis, the world's three top developed nations, the US, UK and Japan, have accumulated massive debts, which are set to exceed or equal the size of their economies. In comparison, the Indian government's total debt would still remain well below the country's GDP size, although it is also increasing due to its massive borrowing programme. Collectively, the total debt of the US, UK and Japan has already reached a size of about 17 trillion dollars (Rs 8,16, 00,000 cr), an amount nearly 25 times of that in India. more...
India 'unofficially' blacklisting us: South African arms maker
An "unofficial" blacklisting by India has resulted in South African arms manufacturer Denel losing two billion rands in revenue, a company executive has told parliament.
The parastatal company's group executive for business development Zwelakhe Ntshepe said Denel was seeking diplomatic assistance from the South African government to recapture the Indian market. "We have been blacklisted, not officially, but the behaviour shows. They don't invite us to tender, they cancel existing contracts. It's been going on for the past four years," Ntshepe was quoted as telling the parliamentary portfolio committee on pubic enterprises by a newspaper here. more...
THOUGHT FOR THE DAY
Criticism, like rain, should be gentle enough to nourish a man's growth without destroying his roots.
HEALTH TIP
To prevent hair loss, massage honey with egg yolk into scalp and hair, leave for 30 minutes, then risen.
TIP - to save energy
Turn off the stove a little before the cooking is finished.
HUMOUR JUNCTION
‘I can resist everything except temptation’
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