Buyers in Gurugram now will have to spend extra money while purchasing properties in upscale condominiums, licensed colonies and builder floors at the Haryana Shahari Vikas Pradhikaran (HSVP) sectors. The district administration has increased the circle rates for 2021-22, which come into force from Thursday.
The rate of an upscale condominium like DLF Aralias, Magnolias and Camellias on Golf course Road has seen the steepest increase which have been increased by 25 per cent from Rs 20,000 to Rs 25,000 per square feet. At the same time, the rate of flats of more than a dozen multi-storey societies at Sohna Road, MG Road and Golf course Road have also been increased from Rs 8,000 to Rs 9,000 per square feet.
In the licensed colonies and independent floors in Haryana Shahari Vikas Pradhikaran (HSVP) sectors, the circle rate was increased by about 20 per cent from Rs 5,500 to Rs 6,500 per square feet. The rate of flats in Group Housing Cooperative Societies of HSVP sectors was hiked from Rs 3,600 to Rs 7,500 per square foot.
However, there is no increase in the rates of plots in the licensed colonies and HSVP sectors.
The flat rate of group housing societies of licensed colonies from Sector-15, 27, 28, 30, 3, 32A, 39, 40, 41, 42, 43, 45, 46, 50, 51, 52, 53, 54, 55, 56 and 57 has been increased from Rs 5,000 to Rs 7,000 per square feet. Similarly, the circle rate of flats in the Licensed Group Housing Society in Sector 58 to 63A has been increased from Rs 3,500 to Rs 5,000 per square feet.
"We have uploaded the proposed circle rates for the 2021-2022 fiscal year on our website. These rates will be implemented from April 8, 2021. Registry happening from Thursday will have to be done as per the new circle rate," said Basti Ram, the district revenue officer (DRO).
Meanwhile, the rates of industrial and IT sectors have not been changed. Apart from this, there has not been any change in the rates of licensed commercial buildings and markets. The rate of residential plots at Chandan Nagar and the Silokhera village in Gurugram has been increased from Rs 18,000 to Rs 42,000 and Saini Khera village from Rs 20,000 to Rs 30,000 per square yard.
"Amid corona the Delhi government reduced circle rates by 20 per cent and in Maharashtra by 4-5 per cent, but the Haryana government increased the maximum registry floor by 20 per cent. The group housing society rates have also been increased. The government and district administration should reconsider these rates," Ramesh Singla, president of Gurugram Home Developers & Plot Holders Association said.
As the Supreme Court on Friday ended a long strecthed dispute between the Tatas and the Mistrys, the matter of the Mistrys-led Shapoorji Pallonji Group's (SP Group) exit from the Tata Sons still hangs on fire.
Although the top court on Friday alllowed all the appeals of the Tata Group and dismissed the appeal of the SP Group, it did not decide on the prayer of the latter for its exit from Tata Sons in lieu of "fair compensation", leaving the matter unresolved.
SP Group, which holds 18.4 per cent stake in Tata Sons, had sought separation from the conglomerate through a scheme of reduction of capital by extinguishing the shares held by the SP Group in lieu of fair compensation effected through a transfer of proportionate shares of the underlying listed companies, with the balance value of unlisted companies and intangibles, including brand value, being settled in cash.
The verdict of the apex court, in a way, comes as another major setback for the SP Group which was seeking to raise funds by selling its stake in Tata Sons and strengthen its weakened financial condition.
The three-judge bench headed by Chief Justice S.A. Bobde noted that the application was filed after Tata Group moved an application for restraining SP Group from raising money by pledging shares and this court had passed an order of status quo on September 22, 2020.
"For the first time, the SP Group seems to have realised the futility of the litigation and the nature of the order that the Tribunal can pass under Section 242. This is reflected in Paragraph 62 of the application, where SP Group has stated that they are seeking such an alternative remedy as a means to put an end to the matters complained of," it said.
The bench observed that SP Group should have sought such a relief from the tribunal (NCLT) at the beginning.
"But in an appeal under Section 423 of the Companies Act, 2013, this court is concerned with questions of law arising out of the order of NCLAT. Therefore, we will not decide this prayer," the top court said.
The apex court said that after attacking Article 75 before the NCLT, the SP Group cannot ask the Supreme Court to go into the question of fixation of fair value compensation for exercising an exit option.
According to Article 75 of the Tata Sons Articles of Association, the company may at any time by 'Special Resolution' resolve that any holder of ordinary shares do transfer his ordinary shares. Such member would thereupon be deemed to have served the company with a sale notice in respect of his ordinary shares.
The court said that what the Mistrys have sought in the application for separation of ownership interests require an adjudication on facts of various items. The valuation of the shares of SP Group depends upon the value of the stake of Tata Sons in listed equities, unlisted equities, immovable assets, among others, and also perhaps the funds raised by SP group on the security or pledge of these shares.
"Therefore, at this stage and in this court, we cannot adjudicate on the fair compensation. We will leave it to the parties to take the Article 75 route or any other legally available route in this regard," the court said in its 282-page judgement.
As the Supreme Court did not give a clear directive in the matter of SP Group's exit from Tata Sons and has left it to the two parties to resolve the issue, it seems that Tatas now have an upper hand in the matter, making it tough for debt ladden SP Group to exit and raise funds, legal experts said.
Two Indian cranes have arrived at Iran's Chabahar port, which is now rapidly developing into a major hub serving Iran, India, Central Asia and Russia.
Iran's state-run IRNA news agency is reporting that two 100 tonne cranes from India worth $7.5 million had arrived at the Shahid Beheshti port in the Chabahar complex.
It quoted Behrouz Aqaee, Managing Director of Ports and Maritime Organisation of Iran as saying that the shipment had been sent within the framework of the long-term build-operate-transfer (BOT) agreement between Iran and India.
The third part of the heavy-lift machinery will be shipped to Chabahar by the end of the year, he said.
Iran's Chabahar received the first shipment of port equipment from India a couple of months ago.
The arrival of the cranes, will advance the handling capacity of the Shahid Behishti port of the two-part Chabahar port complex.
Chabahar is now beginning to gain traction as an oceanic gateway for landlocked countries in the region.
Earlier this week, India and Iran celebrated Chabahar day, where representatives from key Central Asian states including Uzbekistan and Kazakhstan, the two regional heavyweights. Specifically, transport minister of Afghanistan Qudratullah Zaki, Armenia's Infrastructure minister Suren Papikyan, Iran's Minister of Roads Mohammad Eslami, Russia's Deputy Minister of Industry Oleg N Ryazantsev, Uzbekistan's Deputy Minister of Transport Choriyev Jasurbek Ergashevich and India's Minister of State for ports Mansukh Mandaviya were present at the virtual meet which was addressed External Affairs Minister, S. Jaishankar.
During the Chabahar ceremony, Jaishankar had proposed the integration of the Chabahar Port with the International North South Transport Corridor (INSTC), marking India's ambitions to develop a vast network of ports and freight corridors leading into Eurasia.
The International North–South Transport Corridor (INSTC) is a 7,200-km-long network of moving freight by ships, railways, and roads. The corridor aims to connect India, Iran, Afghanistan, Azerbaijan, Russia, Central Asia and Europe. The cities that would be interlinked by this corridor include Mumbai, Moscow, Tehran, Baku, Bandar Abbas, Astrakhan, and Bandar Anzali.
Integration between INSTC and Chabahar is compelling because of the limitation of the highly congested Bandar Abbas, a key Iranian port on the INSTC route. Chabahar, a deep water port therefore comes into the equation as it can ease the burden on Bandar Abbas.
Chabahar port is strategically located in the Gulf of Oman on the mouth of the strait of Hormuz, an important choke point through which oil and gas tankers drawing energy from the Gulf countries pass.
It is ideally located within a network of ports between Dubai and Mumbai. The marine distance between Chabahar and Dubai is 654 kilometres. Karachi is 845 km away, and Mumbai is 1,560 km afar. Pakistan's Chinese-funded deep sea port of Gwadar, the starting point of Beijing's Belt and Road Initiative (BRI) is only 76 nautical miles away.
From an Indian perspective, Chabahar provides an ideal exit for iron ore drawn from Afghanistan's Hajigak mine and other natural resources from the Central Asian countries including Kazakhstan, Turkmenistan, and Uzbekistan. It is a major conduit for Indian exports in the vast geopolitically important region.
The Adani Ports and Special Economic Zone (APSEZ) Ltd. is acquiring the 58.1 per cent stake held by D.V.S. Raju and family in the Gangavaram Port Limited (GPL).
The acquisition is valued at Rs 3,604 crore and subject to regulatory approvals. APSEZ, the transportation arm of Adani Group, had announced acquisition of Warburg Pincus's 31.5 per cent stake in GPL on March 3 and together with this acquisition, APSEZ would have 89.6 per cent stake in GPL.
GPL is located in the northern part of Andhra Pradesh next to Vizag Port. It is the second largest non-major port in Andhra Pradesh with a 64 MMT capacity established under concession from the Government of Andhra Pradesh (GoAP) that extends till 2059. It is an all-weather, deep water, multipurpose port capable of handling fully laden super cape size vessels of up to 200,000 DWT.
Currently, GPL operates nine berths and has free hold land of 1,800 acres. With a master plan capacity for 250 MMTPA with 31 berths, GPL also has headroom to support future growth.
GPL handles a diverse mix of dry and bulk commodities including Coal, Iron Ore, Fertilizer, Limestone, Bauxite, Sugar, Alumina, and Steel. GPL is the gateway port for a hinterland spread over eight states across eastern, southern and central India.
The acquisition will help GPL to benefit from APSEZ's pan-India footprint, logistics integration, customer centric philosophy, operational efficiencies and strong balance sheet to deliver a combination of high growth by enhancing market share and add additional cargo types and improved margins and returns.
In FY20, GPL had a cargo volume of 34.5 MMT, revenue of Rs 1,082 crore, EBITDA of Rs 634 crore (59 per cent margin) and PAT of Rs 516 crore GPL is debt free with a cash balance of over Rs 500 crore.
The company has a paid up share capital of 51.7 crore shares of which 58.1 per cent is owned by DVS Raju and Family (Promoter), 10.4 per cent by the Government of Andhra Pradesh and 31.5 per cent by Warburg Pincus.
APSEZ announced acquisition of 31.5 per cent stake of Warburg Pincus on March 3 for Rs 120/share and shall acquire the D.V.S. Raju stake of 30 crore shares (58.1 per cent) also at Rs 120/share which works out to a consideration of Rs 3,604 crore. The transaction implies EV/EBITDA multiple of 8.9x and P/E multiple of 12.0x (based on FY20 figures) and is a value accretive transaction for APSEZ shareholders.
Karan Adani, CEO and Whole Time Director of APSEZ said, "The acquisition of GPL is a further augmentation of our vision of capitalising on an expanded logistics network effect that generates greater value as it expands. Every additional node that we are able to add to our network allows us to deliver a greater level of integrated and enhanced solutions to our customers. In this context, GPL is a tremendous addition to our portfolio.
"The associated hinterland we will now be able to tap into is one of the fastest growing in the eastern region and with the logistic synergies APSEZ brings to the table, GPL has a potential to become a 250 MMT port. This will undoubtedly help accelerate the industrialisation of AP. The Raju family has built a great port and we will continue to expand the world class asset that has been initiated by them."
APSEZ, a part of globally diversified Adani Group has evolved from a port company to Ports and Logistics Platform for India. It is the largest port developer and operator in India with 12 strategically located ports and terminals -- Mundra, Dahej, Tuna and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam and Krishnapatnam in Andhra Pradesh, Dighi in Maharashtra and Kattupalli and Ennore in Chennai -- represent 24 per cent of the country's total port capacity.
Realty major DLF's Finance Committee on Wednesday approved an issue of redeemable non-convertible debentures (NCD) with principal amount of Rs 500 crore through private placement.
The debenture will be issued in one or more tranches to certain eligible investors permitted to invest in the NCDs as per applicable laws, the company said in a market filing.
The secured, rated listed and redeemable NCDs will carry a coupon rate of 8.25 per cent (ie annualised equivalent of 7.95 per cent per annum payable per month).
The company did not disclose the purpose of the private placement.
Ahmedabad, Feb 16 (IANS) Adani Ports and Special Economic Zone Ltd on Tuesday informed that it has completed the acquisition of 100 per cent in Dighi Port Limited (DPL) for Rs 705 crore on February 15.
The company had intimated the commencement of this development to stock exchanges on March 6, 2020.
With the acquisition, DPL has become the 12th port to join APSEZ's string of economic gateways across the eastern and western coast of India and would establish the company's footprint in Maharashtra. This would enable APSEZ to service customers in the state, including the highly industrialised areas in the Mumbai and Pune regions, the company said in a statement.
APSEZ plans to invest over Rs 10,000 crore to develop the port into a multi-cargo port with world class infrastructure as well as investing in the development of rail and road evacuation infrastructure for seamless cargo movement. The company will also use the investment to strengthen and repair existing infrastructure and for development of facilities for dry, container, and liquid cargo.
Adani Ports said that DPL will evolve as an alternative gateway to the JNPT and will invite and support the development of port-based industries on port land.
It is expected that the development of DPL will lead to further investments across various industries such as consumer appliances, metals, energy, petrochemicals, and chemicals business in Maharashtra and provide a fillip to the industrial development and growth in Maharashtra.
These investments will contribute to employment generation and socio-economic development of the port's hinterland, the company statement said.
As per the terms and requirements of the Resolution Plan, the transfer of concession rights has also been approved by the Maharashtra Maritime Board (MMB) and APSEZ has settled the dues of financial creditors, MMB, and other admitted costs and claims.
Karan Adani, CEO and Whole Time Director of APSEZ, said: "The successful acquisition of DPL adds another milestone in Adani Port's target of creating a string of ports to increase service coverage to the entire economic hinterland of India. With our growth focus, experience, and expertise in turning around acquisitions, we are confident of making DPL value accretive for all our stakeholders."
Adani Ports and Special Economic Zone, a part of globally diversified Adani Group, has evolved from a port company to a ports and logistics platform for India. It is the largest port developer and operator in India with 12 strategically located ports and terminals - Mundra, Dahej, Tuna and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Krishnapatnam in Andhra Pradesh - and represents 24 per cent of the country's total port capacity.
The Indian Railways should explore the use of sections of its extensive network for electricity transmission infrastructure, according to a report.
This is a key recommendation in the report by the Institute for Energy Economics and Financial Analysis (IEEFA) released on Thursday that outlines the opportunity for the Railways to participate in the nation's energy transition beyond its solar power generation plans.
The report titled, 'Indian Railways at the Junction', urges the national transporter to consider the feasibility of locating high voltage direct current (HVDC) lines underground on suitable sections of its right of way.
"With its in-house solar project plans, Indian Railways is on track to becoming a major renewable energy generator. And it could further support India's energy transition by evaluating options for HVDC transmission, which could reduce encroachment on forests and farmland, as well as planning delays," says author Charles Worringham, a researcher and guest contributor for the IEEFA.
"Moving latent electricity in the form of coal is less efficient, less flexible, and increasingly less competitive compared to moving actual electricity on transmission lines."
Worringham points out that the abrupt changes to railway operations caused by the Covid-19 lockdown and the fall in energy demand growth have highlighted critical choices and opportunities for Indian Railways --starting with the priorities to deal with a highly congested network.
Prior to the pandemic, 40 per cent of lines and all of the important freight routes were operating at above 100 per cent of line capacity due to severe congestion on the network, but the suspension of passenger services during the pandemic has seen the movement of more freight and a greater diversity of cargoes, at twice the speed, bringing in new revenue and improved service.
"The ability to deliver a broader range of freight ranging from vehicles to manufactured goods and perishable agricultural produce much more rapidly is in tune with the needs of India's changing economy," Worringham said, adding: "But it was an accidental outcome of the pandemic."
"To maintain these new freight services and speeds when passenger traffic resumes will require Indian Railways to make some hard choices about what kinds of freight have priority. Congestion won't be fixed by new rail projects alone."
These choices should include rethinking plans to expand the movement of coal, which already makes up nearly half of India's bulk rail freight, according to the report.
Lower energy demand growth combined with dramatic cost reductions for solar have increased the logistical costs and financial risks of increasing coal freight, says Worringham.
"Revised electricity demand forecasts mean that much less thermal coal will require transport than Indian Railways has been planning for, and there are real risks of over-building coal evacuation infrastructure at a time when thermal coal demand is plateauing."
And with Railways Minister Piyush Goyal calling for transformation and electrification, the recently restructured Railways board in the process of adopting a National Rail Plan and the new economic conditions, now is the moment for Indian Railways to embrace innovation, re-prioritise freight services, and explore a new role in transmission of electricity.
"Whether publicly owned or operated by Power Grid Corporation of India Limited (PGCIL) or leased to private transmission companies, transmission could become a valuable new revenue stream for Indian Railways," said Worringham.
Though underground cables are generally much more costly to build than overhead cables, the use of existing rail right-of-way in India at scale could bring down these additional costs.
In the US one HVDC project using rail right-of-way is planned to evacuate renewable energy from Iowa to Chicago, and another will bring energy from the Canadian border to New York City making use of HVDC buried beside railway lines, as well as roads and beneath the Hudson River.
US President-elect Joe Biden has advocated the use of road and rail corridors for transmission infrastructure, in part to reduce delays in obtaining permissions required from private landholders and public authorities, a problem in both the US and India.
"Along with the renewable energy projects already completed and those expected in coming years, the ubiquity of potential routes in almost all renewable energy regions and load centres should make cooperation between PGCIL and Indian Railways on one or more demonstration projects a high priority," Worringham further said.
"And post-Covid, re-thinking how Indian Railways best supports not just economic recovery but economic transformation together with energy transition is paramount."
With a major push to road networks, the vision of development of backward areas like LWE-hit Gadchiroli can become a reality
Inaugurating and laying foundation stones for road projects and bridges is a routine activity for politicians. However, when Union Minister Nitin Gadkari inaugurated and laid foundation stones for various road projects in Gadchiroli district recently, it had a special significance.
Located in the eastern-most corner of Maharashtra, Gadchiroli has seen little development even after 73 years of Independence. Over 90 per cent of the district is a designated forest area and almost 40 per cent of the population is tribal. Inaccessible terrain and infrastructure deficiencies have hindered Government welfare programmes for the masses. Decades on, Naxalism has flourished because it touches the emotional chord of socio-political and economic wrongs. It’s ironical that in the name of revolution, Naxals are collecting money and blocking development and Government funds meant for tribal and rural development remain unspent or fall into the wrong hands.
The lack of connectivity within the State and with other States has turned Gadchiroli into a hotbed of Naxal activities. Along with it, the adjoining districts of Chandrapur, Gondia, Yavatmal, Bhandara and Nanded have also become prone to Naxalism. These districts are situated in the Left Wing Extremism (LWE)-affected belt, stretching across Telangana, Maharashtra, Chhattisgarh and Madhya Pradesh.
Gadchiroli is one of the least developed districts where people live amid extreme violence and abject poverty. Dense forests and large perennial rivers criss-crossing the district have posed a major challenge to connectivity. This, in turn, affects literacy, healthcare and mobility of the people. But things have begun to change now.
In the last six years, the Ministry of Road Transport and Highways (MoRTH) has put development of road networks and enhancement of connectivity in Naxal, tribal and backward areas on the fast track. With the vision of connecting every district with National Highways (NHs) and special emphasis on Naxalism-hit areas, the MoRTH has launched a special programme for LWE affected districts.
In Maharashtra, a LWE scheme connectivity programme of 495 km length was announced with an investment of over Rs 920 crore. This programme comprises development of road networks and bridges on Pranhita, Indravati and Godavari, the major rivers of Gadchiroli. For the first time, the district is seeing infrastructure projects of high magnitude being taken up and completed within a span of five years. Till recently, the NH-63, with a total length of 56 km passing through Sironcha, was the only NH in the district. The network has since been enhanced to 647 km after declaration of four new NHs of 591 km length. In all, MoRTH has approved 44 road projects of 541 km with an outlay of Rs 1,740 crore for Gadchiroli district. The major infrastructure initiatives in Gadchiroli include a 855-metre major bridge across the Pranahita River on the Nizamabad-Jagdalpur Road (NH 63) at a cost of Rs 168 crore. Then there is the 630-metre, high-level bridge across the Indravati River near Patagudam on the Nizamabad-Jagdalpur Road (NH 63) at a cost of Rs 248 crore; a 30-metre bridge near Lankachen on the Bejurpalli-Aheri Road; the improvement of Bejurpalli-Aheri Road (SH 275) between Watra and Moyabinpeta and the improvement of the Garanji-Pustola Road.
These projects were inaugurated on September 6. The bridges across the Pranahita River at the Maharashtra-Telangana border and at Sironcha and the Indravati River at the Maharashtra-Chhattisgarh border near Patagudam ensure seamless inter-State connectivity to the neighbouring States. The NH-930 connects Gadchiroli to Chandrapur district and the work of improving 81 km of this road to two lanes with paved shoulder (2L+PS) standards is in progress at a cost of Rs 646 crore.
Improvement of the 39.76 km-long stretch of the Nagbhid-Armori section of the NH-353D has been completed at cost of Rs 269 crore. This road now connects Gadchiroli district with the city of Nagpur. The NH-353C, connecting Sakoli, Wadsa, Gadchiroli, Chamorshi, Alapalli and Sironcha, links the remotest part of Gadchiroli district with the old NH-6 and in turn provides connectivity with the rest of the country. The Gadchiroli-Asthi section of this road is being improved to 2L+PS standards at a cost of Rs 577 crore. Strengthening other sections of this road has also been taken up. The tribal areas of Alapalli, Hemalkasa, Bhamragarh are now connected through NH-130D. Improvement of this road section has been taken up. Construction of major bridges across Perimelli, Bandia and Paralkota, too, has been taken up at cost of Rs 194 crore. The Wainganga river, which divides Gadchiroli and Chandrapur districts, is one of the important rivers in Maharashtra. Due to the current narrow, low-level bridge, commuters face many difficulties, especially during the monsoon season. To eliminate the hardships of the people, a new 825- metre bridge will be constructed at a cost of Rs 99 crore near Asthi.
Four new major bridges on the Perimilli, Bandiya, Pearikota and Waingagana Rivers and 14 minor bridges will ensure seamless transportation in otherwise inaccessible areas of Gadchiroli. This remarkable progress of infrastructure development is not a small achievement. We must compliment the engineers and contractors who are working hard despite the constant fear of Naxal attacks. In fact, the bridge across River Indravati was completed under very trying and war-like conditions. A police station had to be set up in order to help construct the bridge. It was an excellent manifestation of commitment, political desire and coordination between various Government agencies and the security forces.
With a major push to infrastructure, the vision of development of backward areas like LWE-hit Gadchiroli can become a reality. With an abundance of natural resources like bamboo in the district, Gadchiroli can become a hub for sticks used by incense manufacturers as the import of agarbattis has been banned. More than 100 such units can be set up, which would give employment to the local people. With these initiatives, job creation in Gadchiroli will get a fillip as the Government has a target of providing employment to more than 10,000 youth within the next five years. This would be a fitting tribute of an aspirational district to the concept of Aatmanirbhar Bharat.
(The writer is Advisor, NHAI, under MoRTH, New Delhi)
The Corona crisis has showed that NCR needs to be more than a term that real-estate developers use to sell houses
There are many lessons that will be learnt in the aftermath of the Coronavirus pandemic in India but one definitely will be a unified administrative approach in the areas surrounding the capital, the so-called National Capital Region (NCR). The economic success of this region in the past three decades has allowed it to usurp the role of the Greater Mumbai region as India’s economic heartland. For example, Delhi’s airport, much smaller than Mumbai just a decade ago, now has over twice the number of flights and passengers than the financial capital. And one major reason for the development of the Delhi region has been the easy access to the plentiful of available land surrounding the city. This has led to the creation of satellite cities like Gurugram, Noida, Faridabad, Ghaziabad and Sonipat along Delhi’s borders. Even the likes of Meerut, Manesar, Panipat and even Bhiwadi in Rajasthan are little further away. The peripheral expressways around Delhi will only add to this development.
Or will they? Until now, it appeared that there was almost a daily crisis at the city’s borders with both Haryana and Uttar Pradesh blocking daily commuters inside the region. With metro services coming to a standstill and just limited forms of other public transportation, the NCR was in a coma, barely functional. While essential goods and employees were allowed to cross the border, confusion has reigned. Pilots have, for example, found it difficult to move between Noida and Delhi and workmen in factories have not been able to cross in the Gurugram region. There needs to be an understanding that while the political boundaries of the region are defined, it does for all intent and purposes function as one economic, commercial and transportation entity. There needs to be cohesive planning between the civil administrations of all major cities in the region with Delhi playing the lead. Without these satellite cities serving as housing and industrial zones, Delhi would have been unable to become what it has. But at the same time, Gurugram and Noida would not exist without Delhi. The ill-preparedness of the authorities to a health crisis was bad enough but the lack of coordination and the constant changing status of the lockdown in different parts of the NCR have been an unmitigated disaster. It is only now, after the intervention of Union Home Minister Amit Shah, that there is a semblance of unified planning and a sameness of response protocol. That it took three months to do so, however, is a shame and emblematic of India’s ham-handed response to the crisis.
(Courtesy: The Pioneer)
A FEASIBLE AND INNOVATIVE APPROACH TO REFORM, RESTRUCTURE JOBS & ALTER ECONOMY AFTER COVID-19 LOCK DOWN BY MITIGATING THE RISKS AND CHALLENGES
Problem Statement and Background: As soon as LOCK-DOWN 2 was announced by the Prime Minister, restless work force of migrant workers started to panic. It served an alarm that it’s beyond our tolerance limits to stay safe and cool at the same time by confining ourselves within four walls. Though PMO seems to be practical with relaxation norms for essential service sector and other sectors of importance with subject to the projected increase in positive cases and spread of COVID-19 across India.
Intellectuals, CEO’s of larger corporate organizations, economists, businessmen and experts have started discussing and debating on post world scenario after COVID-19 lock down on national economy with after effects on demand and supply cycle. As most of the economists project GDP growth for 2020-2021 between 1.8-2.7% for India, if this is assumed to be true then the lower and middle strata of society will be greatly affected. However, so called experts have potentially failed to visualize the “structural reforms” with available resources in both government and private sectors for the purpose of improving productivity and utilization of workforce with prime focus on new-job creations with improved services to wider community who are the backbone for 5 trillion economy. Authors have put honest efforts to visualize the same and explained in brief how to protect and save common man’s “bread & butter” without significant losses to SME and MSME sectors. The approach discussed in this article covers the logical feasibility and approach to a faster economic recovery and bringing the economy back in track without hampering the interests of all strata and sectors of the pyramid economy.
GOVERNMENT SECTORS Including all central, state, PSU’s, banks, insurance, education, national research laboratories, railways and public transport. Under any catastrophic or epidemic event, public servants, bureaucrats, police personnel are empowered and mostly result in imbalance of power to serve “common people”. There is another class of NGOs who also collects funds in the name of the poor to provide relief and preliminary measures to bring back their routine life on track. This situation normally affects the state and nation beyond any boundaries of caste, creed, class and economics. As a result collateral damage is in the form of loss of lives, livelihood and jobs for time being. This is a result of utilization of public services and their manpower utilization.
PRIVATE SECTORS including manufacturing, organised, unorganized hospitality, retail, aviation, daily needs, essential services, supply chain, blue collar and daily wage workers. Most of the unorganized private sectors core are migrant and daily wage workers whose livelihood and earnings depends the productive days in a month, without any substantial savings and with hardships to sustain and survive and to meet their ends results in frustration and agitation. With a circular economy at halt and near to zero demand and supply, results are quite evident on people and economy. Nothing is above human life and the objective of lock down due to COVID-19 is to safeguard citizen of nation which supersedes the economy.
Major Issues Which Arise Out Of Catastrophic And Epidemic Events :
MAJOR CRITICAL REASON ANALYSIS ON ABOVE REFERRED ISSUES FOR POOR PRODUCTIVITY
INNOVATIVE SOLUTIONS TO ABOVE ISSUES AND TO IMPROVE BETTER PRODUCTIVITY:
20 to 25% time loss per shift per employee, just in lunch & tea breaks is the mindset to enjoy more time than permitted, particularly in government sectors and in private sectors permissible and acceptable minimum efficiency level [such norms missing in govt] directly impacts on productivity per unit cost of a product / service offered. Deep thoughts are given to eliminate non-productive contributing factors, how unnecessary and indirect breaks can be eliminated through restructuring system norms, keeping in mind following objectives
FOLLOWING REFORMS ARE SUGGESTED TO IMPLEMENT
Hence 20-25?ditions in jobs will create at least 20 CRORES JOBS [Present strength of government job is @ 10-12% of population & MSME jobs are 25-30% of population] in government and private sector.
COVID-19 epidemic has put global economy and every individual is suffering, so it is the perfect opportunity to reform existing old system of working and accountability.
Inputs from the following experts Dhiren Shah / Dr Dhananjay Bhatt / Arvind Jain and contact email are in respective order email@example.com / firstname.lastname@example.org / email@example.com
The impact of Coronavirus on commercial real estate will be interesting, primarily because none really knows the future
As the Coronavirus pandemic began spreading its tentacles out of China and to the rest of the world in the middle of March, offices and malls began clearing out. People became genuinely scared of contracting the virus. Now, as the world is gradually beginning to lift the lockdown, the commercial real estate sector is just about picking up the pieces. Nobody really knows what the future will be. Take the example of movie theatres. One among the single-largest occupiers of space in malls, the pandemic not only forced the people home, it also drove up media consumption but on streaming services like Netflix, Amazon Prime and Hotstar. And while streaming services always showed movies soon after the release, several Indian movies scheduled to be screened around the Eid time-frame, a major marketing opportunity, have moved straight to streaming platforms. An angry and petulant letter by one theatre chain will not change studios from adopting this practice. Going back to the movie theatre or indeed the mall will need confidence to come back to the consumers. As e-commerce players restart deliveries of “non-essentials,” we could find ourselves spending even more time at home.
Then what about offices? Not only will several organisations, small and large and previously profitable, find themselves on the verge of bankruptcy at the end of the pandemic, they may also give up their expensive office rental spaces. Other organisations may have noted the success of the “work from home” culture started by the virus, which may as well lead to a re-evaluation of the amount of space they actually need in a building. But some operations, which need physical presence of employees, might end up needing more space as the need for distancing might mean more floor space is required. The usage of “hot-desking,” where employees can use any free space, has been banned in several Western countries, but it may well be followed in India for hygiene reasons. This could lead to more space being needed. The overall impact of the virus on real estate may, therefore, not be all negative. However, with the entire economy stressed and short-term impact of less office space being needed will lead to less buildings being occupied. For a sector that was already teetering on the edge, the virus is proving to be deadly. Far deadlier than it actually has been on humans.
(Courtesy: The Pioneer)