RENEWABLE ENERGY- PROMINENCE !!

India, China led investments in renewable energy in 2015: UN
Press Trust of India/United Nations 26 Mar 16 | 01:02 PMIndia and China led developing countries in investments made in renewable energy in 2015, when for the first time commitments in solar, wind and other renewables capacity by emerging economies surpassed those by wealthy nations, a UN-backed report has said.The report 'Global Trends in Renewable Energy Investment 2016' by the UN Environment Programme said the developing world including China, India and Brazil committed a total of $156 billion in new renewable capacity last year, up 19% on 2014.Investments by developed countries were down 8%in 2015 to $130 billion.The year 2015 was the first time when investment in renewables in developing countries outweighed that in developed economies, the report said.A large part of the record-breaking investment in developing countries took place in China, which lifted its investment by 17%to $102.9 billion, more than a third of global commitments.India was also among the top 10 investing countries in renewable energy, with its commitments rising 22% to $10.2 billion.The US, Japan, UK Brazil, South Africa, Mexico and Chile all made it to the top 10 investing countries in 2015."The investment (in India) took place against a backdrop of pro-renewable policies introduced by India's BJP government. These include a target to almost- triple wind capacity to 60 GW by 2022," the report said.Within the developing-economy category, the "Big Three" of China, India and Brazil saw investment rise 16 %to $ 120.2 billion, while other developing economies enjoyed a 30 %bounce to $ 36.1 billion.Among developed countries, investment in Europe was down 21%, from $62 billion in 2014 to $48.8 billion in 2015, the continent's lowest figure for nine years despite record investments in offshore wind projects.The US was up 19%to $44.1 billion, and in Japan investment was much the same as the previous year at $36.2 billion.The report said India enjoyed a second successive year of increasing investment, breaching the $10 billion for the first time since 2011.It added that the highlight of India's performance in 2015 was a jump in utility-scale solar financings to $4.6 billion, up 75%on the previous year, although still a little below the 2011 record of $4.9 billion.Among the big projects getting the financial go-ahead were the NTPC Kadiri PV plant phase one, at 250 MW, and the Adani Ramanathapuram PV installation, at 200 MW.

http://smartinvestor.business-standard.com/market/Marketnews-374583-Marketnewsdet-India_China_led_investments_in_renewable_energy_in_2015_UN.htm#.VvZJRvl9600

FALCON TYRES LOST GLORY!!!

Ruia group loses grip on Falcon Tyres

PRATIM RANJAN BOSE, 

KS BADRI NARAYANAN

Stake falls to 2.12% after ICICI Bank invokes most shares pledged by a Ruia offshore armKOLKATA/CHENNAI, JANUARY 14:  Kolkata-based Pawan Kumar Ruia group has lost control of Falcon Tyres, which it had acquired 10 years back.The Ruia group had got a controlling stake in Falcon Tyres in December 2005 through an offshore deal.As on the end of September 2014, the Ruia group had a 31.62 per cent stake in Falcon, which has considerable presence in the two-wheeler tyre segment.According to a stock market notification of January 8, the Ruia group has lost control of Falcon as ICICI Bank has invoked 29.5 per cent of the 30.35 per cent shares that the Ruia group’s Mauritius-based Dim Rim and Wheel had pledged with the lender.The Ruia group now holds just 2.12 per cent in Falcon.While the stock market notification does not elaborate on the ownership status of Falcon, sources say ICICI Bank is now the de facto owner.Neither ICICI Bank nor the Ruia group offered any comment.ICICI Bank Singapore had lent $85 million to Wealthsea, a Mauritius-based investment arm of the Ruia group so that Dim Rim and Wheels could put through the Falcon buy.As part of the re-financing deal, the shares of Falcon were pledged with ICICI Bank. According to sources, the Ruias planned to repay ICICI Bank by selling the properties of Dunlop, which the group had acquired. But that did not happen as a court barred sale of Dunlop properties. Wealthsea defaulted, and ICICI Bank took it to liquidation, in the second half of 2014. The Ruia group did not contest the decision, triggering a chain of events, including the invoking of the pledged Falcon shares.Settlement soon?According to SEBI takeover regulations, any change in ownership or acquisition of over 25 per cent should trigger an open offer to the existing shareholders. But ICICI Bank is yet to make any announcement on Falcon.Sources, however, say the bank is in fresh negotiations with the Ruia group for settlement of dues and return of the Falcon shares. The total dues (including penal interests) now stand at nearly double the principal loan amount ($85 million).Sources close to the Ruias claim the group enjoys the support of corporate bodies, which together own 63.79 per cent in Falcon.Among the public shareholders, Suncap Commodities, Regus Impex and Salputri Commerce hold 56 per cent. A settlement, if it comes through, would require the Ruia group to raise fresh finances.Meanwhile, uncertainty is taking a toll on Falcon. While the turnover is down to ₹18 crore in the September quarter from ₹126 crore in January-March 2014, the company’s accumulated losses for the first half of this fiscal are close to ₹20 crore.(This article was published on January 14, 2015)

http://www.thehindubusinessline.com/companies/ruia-group-loses-grip-on-falcon-tyres/article6789458.ece

ECONOMIC REVIVAL, RURAL DEMAND AND 82000 Cr

Housing for all gets Rs 82,000 cr boost

By KA Badarinath Mar 24 2016 , New Delhi

Tags: Policy

Govt to use socio-economic data to spot beneficiaries

The central government’s ambitious ‘housing for all by 2022’ plan got its most major boost on Wednesday. The Union cabinet gave its green signal to prime minister Narendra Modi’s pet initiative to build one crore pucca houses in rural India with an investment of Rs 82,000 crore in the next three years.

Briefing newsmen, communications minister Ravishankar Prasad said all poor people — below or above poverty line — without houses or those living in dilapidated houses, would be eligible for financial assistance under the pradhan mantri awaas yojana (PMAY).

Huge investment planned for rural housing is expected to give a big boost to the construction industry, 250 other ancillary industries, generate millions of semi-skilled and unskilled job opportunities, apart from spreading transport services in rural areas.

The government expects that houses for rural poor would positively impact education and health apart from nutrition, sanitation and over all economic security.

President Pranab Mukherjee in his address to Parliament on May 2014 gave the first hint of government’s resolve to provide houses for all by 2022 with water, electricity, sanitation and access to public services.

Finance minister Arun Jaitley followed up this address with an action plan in his budget for 2014-15.

Under the project, rural houses would be built across the country, barring Delhi and Chandigarh, where the cost would be shared between the Centre and states in the ratio of 60:40.

In northeastern states and hilly areas, the Centre will pay for 90 per cent of the construction costs, while 10 per cent cost would be borne by states. Hitherto, Indira awaas yojana, under which assistance up to Rs 75,000 per household was available, would now be subsumed into the PMAY. Under the earlier scheme, about 351 lakh houses were built with an investment of over Rs 100,000 crore.

Under PMAY, Rs 1.2 lakh would be provided as assistance to those seeking to build houses on plains. This amount will be enhanced to Rs 1.3 lakh per family in inhospitable terrain and hilly areas. Apart from budgetary funds, additional finances worth Rs 21,975 crore will be mobilised through Nab­ard to be amortised through annual budgets after 2022.

The government will use socio-economic and caste census data of 2011 to identify rural beneficiaries for houses under the project. It will also set up a technical su­pport agency to ensure that one crore houses are constructed. To ensure transparency, the government plans to get the list of beneficiaries vetted by gram sabhas. Village panchayats will offer reasons for any changes made to this list.

badarinath@mydigitalfc.com

http://www.mydigitalfc.com/policy/housing-all-gets-rs-82000-cr-boost-065
badarinath@mydigitalfc.com