Railwaystomanufacturedualmodelocomotivesthatrun

ondiesel,electricityTimesofIndia
PTI|Jan17,2016,01.18PMIST

Atrainwithadiesellocomotive.(Filephoto)
NEWDELHI:InafirstforIndianRailways,diesellocomotiveswillsoonhaultrainsbydrawingpowerthrough
overheadwiresonanelectrifiedroute,withthepublictransporterembarkinguponmanufacturingdualmode
engines.
"Wewillbemanufacturingdualmodelocomotivestoruntrainsondieselandalsobydrawingpowerthrough
overheadwireonelectrifiedroute,"saidaseniorrailwayministryofficialinvolvedintheproject.
Railwayswillmanufacturefivedualmodelocomotivesof4500horsepower(HP)capacityeachatDiesel
LocomotiveWorksinVaranasiasapilotproject.
ThoughsimilarlocomotivesareoperationalintheUSandSouthAfrica,itwillbeafirstinIndia,theofficial
said.
Currently,52percentoftotaltrainsareondieseltraction.Diesellocomotivesaregenerallyreplacedby
electricenginesonelectrifiedroutecausingdelays.
"However,withtheacquisitionofdualmodelocos,therewillbenoneedforchangingthelocomotivefor
electrictractionasthesamedieselenginewillbeutilizedonelectrifiedroute,"hesaid.
AdualmodelocomotiveisestimatedtocostaboutRs18crore,whilea4500HPdiesellocomotivecosts
aboutRs13crore.
TheproposalhasbeenforwardedtotheResearchDesignandStandardDesign(RDSO),theresearchwing
ofIndianRailway,tofinalizespecifications.

"AftertheRDSOapproval,DLWwillbemanufacturingfivesuchlocosonapilotbasis.Thelocoswillbe
pressedintoserviceoncertainelectrifiedroutesonatrialbasis,"saidtheofficial.

TopComment
LastonecenturyRailwayswastryingmanufacturesomethingbytheirown,theycouldn't,thiscenturythey
arearetryingagain,theycannotbecausetheyaregovernmentemployeeswithoutany
accountability.SumeshGai
Thedualmodelocomotivewillbeheavierthanthediesellocomotiveandisexpectedtorunatamaximum
speedof135kmperhour.
Adiesellocomotiveisatypeofrailwaylocomotiveinwhichtheprimemoverisadieselengine,whileinan
electriclocomotive,theenginemovesonpowerdrawnthroughapantographmountedontheroofofthe
train.

Pantographisanapparatusmountedontheroofofanelectrictrain,tramorelectricbustocollectpower
throughcontactwithanoverheadwire.
RELATED
FederalReserveChairJanetYellensaidthattheUSeconomyisonasolidcourseandstillontrackto
warrantfurtherinterestratehikes.SpeakingatapanelwithformerchiefsoftheUScentralbank,Yellen
saidthelabormarketwas"close"tofullstrengthandthatinflationwascurrentlyheldbackbytemporary
factors.

UlrichSpeisshofer,CEOofABBgroupspoketoETNowandsaidthatIndia'sgrowthmakesitan
importantmarketforus.SpeakingonitsIndiabusiness,headdedthatthebusinesshasgrownoverone
billiondollarinIndiaandthereisanappetiteformore.

'Industrialrecoverytobegradual,2016GDPgrowthat7.8%'
PTI|Jan17,2016,01.06PMIST

Representativeimage
NEWDELHI:Sharpcontractioninfactoryoutputisjustan"aberration"andunderlyingindustrialgrowthisstill
positive,Nomurahassaidinaresearchnote,addingthatthecountryisexpectedtoclockaGDPgrowthof
7.8percentin2016.
Accordingtotheglobalfinancialservicesfirm,thecontractioninindustrialproductionwassignificantlybelow
expectationsandtheDecemberindustrialproductiongrowthshouldrebound.
Industrialproductioncontracted3.2percentinNovember,itssharpestdeclineinfouryears.
"Givenrisingexternalheadwinds,theindustrialrecoveryislikelytoremaingradual.Still,weexpectIndia's
GDP(marketprices)growthtoriseto7.8percentin2016from7.3percentin2015...,"Nomurasaidina
researchnote.
Thereportnotedthegradualriseingrowthnumberswouldbelargelyledbylowcommodityprices(whichis
positiveforcorporateprofits),improvingdiscretionarydemand,gradualtransmissionofpastratecutsand
higherpublicinvestmentininfrastructure.
Moreover,normalmonsoonin2016shouldalsosupportruraldemand.
"Decemberindustrialproductiongrowthshouldrebound,buttheChennaifloodeffectwillalsopartlyweigh
onindustrialoutput,"Nomurasaidintheresearchnote.
Thereportfurthernoted"thesharpcontractioninindustrialproductionisanaberration,asunderlying
industrialgrowthisstillpositive,thoughindustrialproductiongrowthappearstohavelostsomemomentum
towardstheendof2015."
Ongrowth,Nomurasaid:"WeexpectIndia'sGDP(marketprices)growthtoriseto7.8percentyearonyear
in2016from7.3percentin2015".
NomuraexpectsCPIinflationtoaverage5.4percentin2016,versus5.8percentearlier.
"Excludingtheoneofftechnicalrise(duetopaycommission),weexpectunderlyingCPIinflationtobestable

at5percentin2016,"itsaid.
Onmonetarypolicy,itsaidthatRBIislikelytogofora25basispointreporatecutto6.50percent,owingto
lowercommoditypricesandslowerindustrialmomentum.
"Althoughanintermeetingcutcannotberuledout,ourbasecaseisforanAprilcut.Beyondthat,weexpect
theRBItostayonholdasthereareupsideriskstoitsmediumterminflationtarget,"itsaid.

ReserveBank'snextbimonthlypolicyreviewisonFebruary2.
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NavbharatTimes
FeaturedTodayInTravel
WeWorkplansIndiaforayverysoon,saysfounderNeumann
Reuters|Jan17,2016,11.53AMIST

AdamNeumann,CoFounderandCEO,WeWork.(TOIphotobyAshwaniNagpal)
NEWDELHI:WeWork,aNewYorkbasedproviderofsharedofficespace,isplanningtosetupabusinessin
India,founderAdamNeumannsaidataconferenceonstartupbusinessesonSaturday.
WeWorkisafouryearoldcompanythatprovidessharedworkspaceslargelytostartupcompanieswithout
owningthepropertiesitself."WewanttobuildalocalbusinessinIndiaandhirealllocalmanagement...We
willlaunchheresoon,"Neumannsaid.
NeumannhasvisitedanoldgarmentmillbuildinginthetechnologycityofBangalore,whichhemightturn
intooneofthecompany'sfirstsharedworkspacefacilitiesinIndia,HindustanTimesreported.

India,hometoalargenumberoftechnologystartups,wantstobuildonthemomentumbyimprovingthe
operatingenvironmentforsuchfirms.

PrimeMinisterNarendraModiisexpectedtounveilmeasurestomakethecountryamoreattractive
propositionforstartupswhenhespeaksattheconferencelateronSaturday.
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NavbharatTimes
FeaturedTodayInTravel
AItoservemealsinthalisforbusinessclassflyers
SaurabhSinha|TNN|Jan17,2016,04.37AMIST

Representativeimage
NEWDELHI:ThisisthemosttraditionalIndianthingtomakeadebutonanairlineafterthesariwornby
airhostessesofsomecarriers.AirIndiaisgoingtostartservingmealsinthalistopassengersinbusiness
classofitsdomesticandinternationalflightsverysoon,airlinechairmanAshwaniLohanitoldTOI.
Howeverinonedeparturefromthetraditionofthalis,AIwilluse"highquality"plasticthalisandnotsteel
ones."Thefoodwillbebothvegandnonveg,"saidLohani,inrelieftomeatloverswhowererecentlytold
thatAIwillserveonlyvegmealsonflightsofupto90minutesfromthisyear.
"Weareupgradingtheonboardexperienceforpassengers.Whilethefocusisonallroundexcellence,the
qualityofmealsisbeingespeciallyupgraded.Thatiswhyweshiftedfromservingcoldvegsnacksonflights
ofupto90minutestohotmeals,"Lohanisaid.
AnintensecompetitionhadbrokenoutinthefullservicespaceofIndiawiththearrivalofarrivalofTata
SingaporeAirlines(SIA)JVVistara.InfacttheverydaytheTataJVannounceditsbrandnameinNovember,

2014,andpromisedtooffer"athithidevobhava"serviceonthat,Jetsaiditwillturnallfullservice.Jet
promisedtohavethe"bestdomesticfullserviceproductinIndia."
AirIndia,India'sfirstfullservicecarrier(FSC),ispullingupitssockstomeetthechallengeofJetand
Vistara,especiallyasthegovernmentplanstorelaxrulesfornewairlineslikeVistaratoflyabroadandthen
itwouldofferachallengetoAIoninternationalroutestoo.Vistarahasplanstoflylonghaulroutes,liketo
EuropeandNorthAmerica,oncetherulesarerelaxed.
Inthisbackdrop,thepressureisnowontheMaharajaofAItogoinforamakeover.Lohani,whotookover
asAIchairmanlatelastyear,istryingtoresolveHRissuesashebelievesthatonlyhappyemployeescan
leadtohappypassengers."Ican'tjusttellmyemployeestostartofferingbetterserviceswithasmileto
passengerswithouttakingcareoftheirproblems.Theyhavetobehappyandthentherestwillfollow
automatically,"heislearnttohavetoldhismanagementteam.
Theotherbigfocusisonproductimprovement,withspecialattentionbeingpaidtoimprovingAI'snotso
impressiveontimeperformancerecord.
AIseeksRs4,277crfornextfiscal

AirIndiahassoughtRs4,277croreforthenextfiscalintheupcomingUnionbudget.Aseniorairlineofficial
saidwhileAIistogetRs3,300croreequityinfusionnextfiscal,anadditionalRs977crorehasbeensought
tomakegoodtheshortfallinequityinfusionsofaraswellasduetoexchangeratefluctuations.UPAhad
approvedinfusionofRs30,231croreinAItill2020andtheairlinehassofargotRs22,000crore.
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VTAsuggestsnoincreaseinthresholdlimitofpersonaltaxation
ProshunChakraborty|TNN|Jan16,2016,07.46PMIST

VTAsuggestednoincreaseinthresholdlimitofpersonaltaxation,asincreaseinthelimitmaydropnumber
of...ReadMore

NAGPUR:VidarbhaTaxpayersAssociation(VTA)heldameetingofitsexecutivebodypresidedoverbyits
presidentJPSharmaspecificallytodiscussandsubmitsuggestionsonprebudget201617tofinance
ministry.Afteradetaileddiscussion,VTAsentaprebudgetmemorandumtounionfinanceministerArun
JaitleyandCentralBoardofDirectTaxeschairmanAKJain.
VTAsuggestednoincreaseinthresholdlimitofpersonaltaxationasincreaseinlimitwilldropnumberof
taxpayers.Ontheotherhand,todrawmoretaxpayersunderdirecttaxnet,VTAsuggestedataxslabof
10%uptoRs10lakhincomeabovethebasicexemptionlimitofRs2.5lakh,20%aboveRs10lakhtoRs25
lakhand30%aboveRs25lakhuptoRs5croreincome.VTAsuggestedintroductionofanotherslabof35%
totargetveryhighincomesectorofaboveRs5crore.
OnCapitalGains,VTAsuggestedthatshorttermcapitalgainsrateshouldbebroughtdownto25%,likewise
longtermcapitalgainsrateshouldbebroughtdownto15%.Italsoraisingthethresholdlimitofturnoverfor
taxauditforbusinessundersec44ABfrompresentRs1croretoRs2croreandinthecaseofaprofession
thesamemayberaisedfromRs25lakhtoRs1croreasthisshouldbeinlinewiththeServiceTax
registrationrequirements.
Citizensspendalargeamountinhealthcareandmanyhavetosellpropertiestofootmedicalbills,hencethe
presentlimitofRs15,000u/s80DneedstoberaisedatleastuptoRs50,000perannum.
VTAstressedforearlyimplementationofGoodsandServiceTax(GST).Itisveryunfortunatethatcentral
government'seffortsinwinterassemblyfailedandhenceVTAcalledforafreshattemptinthebudget
sessionoftheParliamentbygovernmentwithapositiveactionfromtheoppositionpartiesinnational
interest.GSTwillbealandmarkreforminthefieldofindirecttaxationandwouldhaveabeneficialimpacton
thecountry'seconomy,thememorandummentioned.

UnderServiceTaxsectionVTAsuggestedthatduedateofpaymentofservicetaxtogovernmentis6thof
thesucceedingmonth,whichisveryshorttoreconcilemonthlyaccountsandshouldbeextendedtill15th.
Othertopicsincludedreversechargemechanism,revisioninratesofinterestfordelayinpaymentofservice
tax,pointoftaxationinrespectofreversechargetransactionandsingleregistrationandreturnforall
servicesprovidedbytheassessee.
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AirIndiaseeksaroundRs4,300crorefromgovtfor201617
PTI|Jan16,2016,06.32PMIST

AirIndiaissaddledwithdebtofaroundRs40,000crore,thatlongtermborrowingstakenforaircraft
purchas...ReadMore
NEWDELHI:AirIndiahassoughtaroundRs4,300croreworthfundsfromthegovernmentforthenext
financialyearasthenationalcarrierlookstoturnarounditsfortunesamidstiffcompetition.
TheairlineissurvivingonaRs30,231crorebailoutpackageextendedbythepreviousUPAgovernmentin
2012.UndertheTurnaroundPlan(TAP),whichrunstillMarch2021,ithasalreadyreceivedRs22,280
crore.
AseniorofficialsaidthecarrierhassoughtaboutRs3,300crorefromthegovernmentunderthe
TurnaroundPlanandbacklogamountofaroundRs977crore.
Thebacklogamountismainlyonaccountofsteepappreciationindollaragainsttherupee.Thefinancial
situationlooksbettersincethefuelpricesareatlowlevelsnow,theofficialadded.
ThedemandhasbeenmadeaspartoftheBudgetwishlistforthe201617fiscalstartingfromApril1.
AirIndiaissaddledwithdebtofaroundRs40,000crore,thatlongtermborrowingstakenforaircraft
purchaseandworkingcapitalpurposes.
AirIndiahasalreadytiedupfordryleasing14newenginetechnologyA320neoplaneswithaKuwaiti
lessor,whicharetobeinductedinthefinancialyear2017,theofficialsaidaddingtheairlineplanstodry
leaseanother30narrowbodyaircraft(A320s)initsfleetoverathreeperiodsinitsbidtoaugmentcapacity
inthehighlycompetitivedomesticmarket.
India'sdomesticpassengertrafficsurgedbyarobust25.1percentinNovemberlastyear,fuelledbyhigher
capacitydeployment,improvedeconomicsentimentcoupledwithDiwalirush,evenasothermajoraviation
marketssuchasBrazil,RussiaandJapandeliveredanegativegrowthduringthesameperiod,accordingto
globalairlinesbody,IATA.
Besides,thestaterunairlinewillalsohire534AirbusA320pilotsand1000cabincrew,inlinewithitsaircraft
inductionplan,theofficialsaid.

AirIndiahasasignificantshortageofA320flightcrewduetoitstrainedpilotsquittingtheairlineandmoving
toprivatedomesticcarriersandforeignairlines.

AtpresentAirIndiahas1,441pilots,with670ofthemflying66A320familyaircraft.Besides,another70
pilotsareundertraining.
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'StartupIndia':SoftBanklookstoraiseIndiainvestmentto$10
billion,CEOMasayoshiSonsays
PTI|Jan16,2016,02.38PMIST
02:12

NEWDELHI:BettingonIndiaemergingbiggerthanChina,Japan'sSoftBankonSaturdaysaidithas
invested2billiondollarsinIndianfirmsinthelastoneyearandwilllooktoscaleuptheinvestmentto$10
billioninthecomingyear.
SoftBankchairmanandchiefexecutiveMasayoshiSonsaidinternetandsolararethesectorsthatexcites
him,butwantsthegovernmenttodeveloparobustmobilephoneinfrastructureandresolveslowInternet
issues.
"IfIrescale,Iwillscaleup.Whatwill$10billionbecome,Idon'tknow.IfIhavesaidthatwewillinvest$10
billionin10years,wehaveinvested$2billioninayear.That'soverpacingandIthinkwewillaccelerate,"he
saidatthe"StartupIndia"conferencehere.
HesaidthemoreheknowsaboutIndiaoneveryvisit,themorehegetsexcited.
Statingthat21stcenturybelongstoIndia,hesaidthereexisthugeopportunitiesinIndia."Everymarketis
different.ItrulythinkthisisreallythebeginningofBigBangforIndia."

"Inthenext10yearsIndiawillrepeatthegrowthChinasawinthelast10yearsandinmyopinion,India
couldbebigger(thanChina)."
StatingthatIndiansaresmart,Englishspeaking,ITproficient,hesaid,"allthesethingsmakemebelieve
thatthe21stcenturyisthiscountry."
"Weareveryhappywiththeportfoliowehave.Wewillcontinuetolookfornewopportunities.Internetand
solararethesectorsthatexciteme,"hesaid.
Son,Japan'ssecondrichestpersonwithanetworthof$14.1billionsaidinfrastructurewasimportantand
mobilebroadbandinfrastructurewaslackinginIndia.
"Ithinkmobileinternetistooslow.Morespectrumallocationtothemobilecarriersisneededsothatthey
canhavebettermobilebroadband,"hesaid.
SoftBankhadin2014announcedplanstoinvest$10billioninIndiaoverthenextdecade.Ithasalreadyput
in$627millionintoonlinemarketplaceSnapdealandsmallerinvestmentsinpropertysiteHousing.com.
Itsunit,SoftBankInternetandMediaIncisleadingagroupofinvestorsputtinganinvestmentof$210million
inANITechnologiesPvt,whichrunstheOlaCabstaxibookingservice.Itpaid$200millionfora35percent
stakeinInMobi,anIndianmobileadvertisingnetwork.
ItalsohasajointventurewithIndia'sBhartiGroup,BhartiSoftBank,theinvestmentsofwhichincludethe
mobileapplicationHikeMessenger.
SoftBankinJunehadenteredIndia'ssolarenergysectorwithaventurewithBhartiEnterprisesandFoxconn
TechnologyGroupofTaiwan.

TheJapanesegroupwillownthemajoritystakeinthenewventure,SBGCleantechthatwillbidtobuild20
GWofsolarpowerplants.Underthepartnership,Foxconnwillhelpmanufacturesolarequipment,andthe
venturewillconsiderproducingsomelocally.
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Govtmaylowercapitalgainstaxonsaleofsharesinunlisted
companies
Sidhartha|TNN|Jan16,2016,02.05PMIST
NEWDELHI:Inamajorbenefittothecorporatesector,especiallyunlistedcompanies,thegovernmenton
Saturdayindicatedthatitwouldlowerthecapitalgainstaxonsharessoldafterthreeyears,amovethat
couldspurM&As.
Currently,thereisnocapitalgainstaxonsharetransactionsinlistedcompaniesifthosestocksareheldfor

12months.Butsharesofunlistedentitiesfacecapitalgainstaxof20%evenafterthreeyears.
Thetaxtreatmenthasbeenoneamajorareaofconcernforinternationalinvestors,severalofwhomare
pumpingbillionsintotheIndiancompanies.
"Wewilllooktonarrowthegapinthebudget,"revenuesecretaryHasmukhAdhiasaidatStartUpIndia,a
conferenceorganisedbythegovernmenttoboosttheecosystemthroughasetofnewrulesthatreducethe
complianceburden.
Adhialatersaidthatthiswasoneoftheissuesthathadbeenflaggedandthegovernmentwilllookto
addressthisconcern.He,however,refusedtocommentontheextentofreductioninthecapitalgainstax,
citingbudgetconfidentiality.
Describingthetaxexemptionforstockmarketinvestmentastaxbreaksfor'sattebazi'(speculation)Inventus
CapitalmanagingdirectorKanwalRekhihaddemandasimilarfacilityforinvestmentsinunlistedcompanies
comingfromacrosstheglobe."InvestmentmadefromMauritiusisnottaxedbutthosemadefromtheUS
comeundertaxambit.Wedon'twanttoinvestthroughindirectroute,wewanttomakeinvestmentdirectly
fromSiliconValleytoIndia,"InventusCapitalmanagingdirectorKanwalRekhihadsaidonFriday.
Officialsacknowledgedtheconcernandsaidthatlevyinghighertaxesoncompanies,whichwereinvolvedin
economicactivityprovidedemploymenttolargenumberofpeople,wasunfair.
Itisestimatedthatnearly95%oftheIndianstartupscomesfromoverseasandthemovewillhelpthem.As
aresult,severalstartupswereoptingtorelocate.Butthebenefitsareexpectedtogototheoldeconomyas
well.
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Globalcrisesnowoccurtwiceaday:ArunJaitley
IANS|Jan16,2016,12.45PMIST

Nobodycanenvisagewhattheworldeconomicsituationwillbeinayear,ArunJaitleysaid.

NEWDELHI:Fromasituationearlierwhentheglobaleconomywouldfaceacrisisonceadecade,nowsuch
crisesalmost"twiceaday"havebecomenormaloccurrences,financeministerArunJaitleysaidon
Saturday.
"Earlier,whileacrisiswouldoccuronceinadecade,nowtheycantakeplacetwiceaday.Therecanbea
crisisbroughtonbyChinesecurrencydevaluationinonepartoftheworldandbyfallingoilpricesin
another,"hesaidhereatthe"StartupIndia"eventtobelaunchedbyPrimeMinisterNarendraModilaterin
theday.
"Lookingdownthetunnel,nobodycanenvisagewhattheworldeconomicsituationwillbeinayear,"the
ministersaid.
Sayingthecountrycouldtake"limitedsatisfaction"fromhavingbecomethefastestgrowingbigeconomy,
Jaitleysaiditwasfacedwithmanychallengeslikeinagriculture,twosuccessiveweakmonsoonsandlow
investmentbyaprivatesectorwhichhadoverborrowedputtingbanks'financesundergreatstrain.
"Inthesecircumstances,thegovernmenthadtoexplorenewareasforencouragingentrepreneurship.
"So,webroughtintheMUDRAschemeintendedtotargetthebottom25percentofthepopulation,sothey
cangetloansfromfinancialinstitutionsandbanks,bothprivateandpublicsector."

Informingtheaudiencethatsofar1.73croreborrowershavetakenloansundertheMUDRAscheme,he
saidunderthe"StandupIndia"initiative,tobelaunchedseparately,everybankbranchwouldadoptone
womanentrepreneur,aswellasonefromthescheduledcasteandscheduledtribecategories.
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