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In FY25, Punjab is set to experience financial challenges as its capital-to-revenue expenditure ratio is the lowest among all states, standing at just 6.2%, highlighted a research report by the <keyword id="19938957" type="General" weightage="100" keywordseo="National-Stock-Exchange" source="keywords">National Stock Exchange</keyword> (NSE). This means that for every rupee Punjab spends, a very small portion is being allocated towards capital expenditure, which is crucial for long-term <keyword id="19971350" type="General" weightage="20" keywordseo="infrastructure-development" source="keywords">infrastructure development</keyword>. In contrast, the research showed that the states like Gujarat lead the way with a much higher ratio of 36.2%, signaling a stronger focus on capital spending that can drive future growth. "The capital-to-revenue expenditure ratio, a measure of expenditure quality, is set at 20.7 % for FY25BE, declining from 21.2 % in FY24RE. Punjab has the lowest ratio at 6.2 %, while Gujarat leads at 36.2 %" said the report. The report also highlighted that the overall, capital expenditure by Indian states is expected to moderate in FY25 after three years of strong growth. It stated that the total capital spending for the fiscal year is estimated to increase by just 6.5 % to Rs 6.5 lakh crore. This is a notable slowdown compared to the sharp 39.3 % rise in FY24, which was marked by a post-pandemic push to boost infrastructure and public projects. The capital-to-revenue expenditure ratio, a key indicator of the quality of spending, is also set to decline slightly to 20.7 %in FY25 from 21.2 %in FY24, reflecting a more cautious approach by states. At the same time, revenue expenditure, which covers recurring costs like salaries, subsidies, and interest payments, is expected to grow by 8.9 % to Rs 44.2 lakh crore. This is the slowest growth in the last four years, indicating tighter control over everyday spending. "<keyword id="23614983" type="General" weightage="20" keywordseo="committed-expenditure" source="keywords">Committed expenditure</keyword> (interest payments and pensions), on the other hand, remains high, comprising about 24 % of total revenue expenditure and consuming nearly a quarter of revenue receipts" the report added. Despite this, the report noted that a large portion of revenue expenditure remains committed to non-discretionary costs. Interest payments and pensions alone account for about 24 % of total revenue expenditure and consume nearly a quarter of the revenue receipts, limiting states' flexibility in spending. Some states are more burdened than others by this committed expenditure. Punjab, Kerala, Himachal Pradesh, and Tamil Nadu have earmarked over 35 %of their revenue receipts for these fixed costs in FY25, putting additional pressure on their finances. This leaves less room for discretionary spending and makes it harder for these states to invest in development and growth-oriented projects.

Punjab's capital expenditure lowest in FY25 at 6.2% vs highest of Gujarat at 36.2%: NSE

Remember the pictures of Indian Prime Minister Narendra Modi and Russian President Vladimir Putin locked in a good-natured embrace that had surfaced on the internet not long ago? While they might not be indicative of the leaders’ alignment in their politics, it is certainly representative of the close ties between India and Russia on multiple strategic aspects, including their respective space programs. The two nations have been mostly pally with each other since India’s post-independence — despite tensions between the US and USSR. And what is perhaps the best example of this friendship would be how the Soviet Union has contributed to the establishment and growth of India's space program. <div type="Article" hostid="261" msid="111577453" title="Modi&amp;#39;s Russia visit shows India isn&amp;#39;t worried about making the US mad" mstype="2" mssubtype="0"></div>India's space program, conceived in the 1960s under the visionary leadership of Dr <keyword id="20550009" type="General" weightage="20" keywordseo="vikram-sarabhai" source="keywords">Vikram Sarabhai</keyword>, was primarily focused on utilising space technology for national development. Unlike the space programs of the United States or the Soviet Union, which were heavily influenced by military competition and the Cold War, India's space endeavours were rooted in civilian and developmental objectives. Recognising the potential of space technology, India sought international cooperation, and the Soviet Union emerged as a crucial partner. As India celebrates its first <keyword id="18542869" type="General" weightage="20" keywordseo="national-space-day" source="Orion">National Space Day</keyword>, we would be remiss to not acknowledge all that Russia has done for our nation in terms of space exploration. And here are seven examples of the USSR's involvement during <keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords" meta.keywordsubtype="org" meta.entityname="ISRO" meta.hostid="261" meta.entityid="ISRO">ISRO</keyword>'s early years, with multiple instances of assistance. <h2>1. Aryabhata satellite (1975) </h2>The USSR was instrumental in the launch of India's first satellite, Aryabhata, in 1975. While the satellite was designed and developed by Indian scientists, it was launched using a Soviet Kosmos-3M rocket from the Kapustin Yar launch site in Russia. This marked India's first step into space and would not have been possible without Soviet support. <h2>2. Training of ISRO scientists</h2>Throughout the 1960s and 1970s, many Indian space scientists received training in Soviet institutions. This included training in areas like satellite communications, telemetry, and space mission operations. The transfer of technical knowledge was crucial for ISRO as it developed its own capacity to build and operate satellites independently. <h2>3. Bhaskara-I and Bhaskara-II satellites (1979 and 1981)</h2>The USSR launched two Indian Earth observation satellites, Bhaskara-I and Bhaskara-II, which were crucial for remote sensing applications in areas like meteorology, oceanography, and hydrology. Both satellites were launched aboard Soviet rockets, contributing to India's development of satellite-based Earth observation capabilities. <div type="Article" hostid="261" msid="109511778" title="US satellites could face threat from Russia and China&amp;#39;s &amp;#39;unfriendly&amp;#39; space behavior, warn defense analysts" mstype="2" mssubtype="0"></div><h2>4. Launch of apple satellite (1981)</h2>The Ariane Passenger Payload Experiment (APPLE) satellite, India's first experimental communication satellite, was launched in 1981 with Soviet assistance. While the satellite was launched aboard a European Ariane rocket, the Soviet Union provided crucial technical support during its development and also supported telemetry during its early operations. <h2>5. Tracking and telemetry support</h2>The USSR provided technical and infrastructural support to India by helping set up tracking and telemetry stations in India. These facilities were essential for controlling and receiving data from Indian satellites. Soviet technical assistance helped India develop its ground infrastructure for space missions. <h2>6. Interkosmos program (1984) </h2>Under the Soviet Union's Interkosmos program, India participated in a manned spaceflight mission. Rakesh Sharma, an Indian Air Force pilot, was sent into space aboard the Soviet Soyuz T-11 spacecraft, making him the first Indian to travel to space. This was a landmark event for India's space program, showcasing the close collaboration between ISRO and the Soviet space agency. <h2>7. Support for PSLV development</h2>In the early 1990s, during the development of ISRO's Polar Satellite Launch Vehicle (PSLV), the Soviet Union provided guidance and support, particularly in rocket propulsion technology. This collaboration helped ISRO overcome technical hurdles and achieve greater self-reliance in launching satellites. The dissolution of the Soviet Union in 1991 marked the end of an era in Indo-Soviet space collaboration. However, the legacy of the USSR's contributions to ISRO continues to influence India's space program. Russia, as the successor state of the Soviet Union, maintained friendly ties with India, and space collaboration continued, albeit with a different focus and scale. India’s manned space mission project, Gaganyaan, which aims to send Indian astronauts into space, involves training astronauts in Russia, demonstrating the lasting legacy of <keyword id="22892657" type="General" weightage="20" keywordseo="Indo-Soviet-space-cooperation" source="keywords">Indo-Soviet space cooperation</keyword>. <div type="Article" hostid="261" msid="112569406" title="ISRO targets first Gaganyaan mission launch by December: Chairman" mstype="2" mssubtype="0"></div>

7 times Russia aided India's space program — in chronological order

<keyword id="4625572" type="General" weightage="20" keywordseo="indian-renewable-energy-development-agency" source="Orion">Indian Renewable Energy Development Agency</keyword> Ltd (<keyword id="391336" type="General" weightage="100" keywordseo="ireda" source="Orion">IREDA</keyword>) has opened an office in <keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword> at Gandhinagar which will specialise in providing debt options denominated in <keyword id="90766" type="General" weightage="20" keywordseo="foreign-currencies" source="Orion">foreign currencies</keyword> to facilitate natural hedging and significantly reduce the financing costs for green hydrogen and renewable energy manufacturing projects, the Ministry of New and Renewable Energy said on Thursday. The strategic initiative which would contribute to the country's journey towards a greener future was highlighted by IREDA chairman and managing director (CMD) Pradip Kumar Das at a panel discussion on 'Future Growth Opportunities for Long Duration <keyword id="1609428" type="General" weightage="20" keywordseo="energy-storage" source="Orion">Energy Storage</keyword>', held at the World Future Energy Summit 2024 in Abu Dhabi on Wednesday. The IREDA CMD emphasised the critical role that energy storage will play in achieving the <keyword id="13194051" type="General" weightage="20" keywordseo="national-green-hydrogen" source="Orion">National Green Hydrogen</keyword> Mission's ambitious target of producing over 5 million metric tons of hydrogen per annum by 2030. The CMD emphasised the need to enhance research and development efforts to reduce cost and improve the performance of energy storage solutions. It was necessary to implement policies that strengthen the supply chain network, and providing competitive and tailored financial solutions will encourage investment in energy storage projects, he added. India has taken active steps in this direction, which include the formulation of a storage requirement roadmap up to 2047, technology-agnostic storage tenders, and supportive government interventions for battery manufacturing and pumped storage hydropower projects. The Central Electricity Authority of India projects a storage requirement of nearly 400 gigawatt-hours (GWh) by 2030-32, with an estimated investment exceeding Rs 3.5 lakh crore.

IREDA's GIFT City branch to give special foreign currency loans for green projects

The residential market shows a positive outlook, with 51% of stakeholders predicting higher sales over the next six months. However, a notable 24% expect stability, while 25% predict a potential decrease, reflecting a balanced yet cautious sentiment, as per a recent <keyword id="19895043" type="General" weightage="20" keywordseo="Knight-Frank" source="keywords" meta.keywordsubtype="org" meta.entityname="Knight Frank" meta.hostid="261" meta.entityid="Knight Frank">Knight Frank</keyword> report. The outlook for residential launches is also positive, with 61% expecting an increase, suggesting continued demand. A more tempered view is held by 20% of respondents who expect stability, and 19% foresee a decrease in launches. The Indian <keyword id="20152263" type="General" weightage="20" keywordseo="real-estate-sector" source="keywords">real estate sector</keyword> continues to reflect a positive outlook for the near future, though with a more cautious approach. In terms of pricing, 63% of stakeholders expect a rise, but 36% anticipate stable prices, and a very small minority predict a decline. G Hari Babu, National President, National Real Estate Development Council (<keyword id="20429653" type="General" weightage="20" keywordseo="naredco" source="keywords">NAREDCO</keyword>), said, "The residential and office markets continue to show notable activity, signaling ongoing growth and opportunity. Developers and other key stakeholders, including banks and financial institutions, are maintaining a positive outlook." He added, "This suggests that while there may be short-term challenges, the sector is well-positioned to adapt and thrive. The continued optimism and activity in the market highlight the sector's ability to sustain its momentum and drive forward, amidst changing conditions." The <keyword id="22822547" type="General" weightage="20" keywordseo="office-leasing-market" source="keywords">office leasing market</keyword> shows signs of strong recovery, with 63% of respondents predicting an increase in leasing activity, driven by positive business sentiments and <keyword id="21313740" type="General" weightage="20" keywordseo="economic-revival" source="keywords">economic revival</keyword>. However, 24% expect stability, and 13% foresee a decline. New office supply also remains a point of interest, with 47% expecting an increase, while 29% anticipate stability, and 24% forecast a decrease. Furthermore, 67% of stakeholders expect office rents to rise, signaling confidence in the market's ongoing growth, even as 27% anticipate stable rents and 7% expect a decrease. The <keyword id="20635920" type="General" weightage="20" keywordseo="future-sentiment-score" source="keywords">Future Sentiment Score</keyword>, which measures stakeholders' outlook over the next six months, saw adjustments across various regions. The North Zone score slightly decreased from 65 in Q1 2024 to 63 in Q2 2024, though it remains firmly optimistic. The South Zone witnessed a more significant drop from 76 to 65, signaling a moderated outlook. In the East Zone, the score fell from 77 to 65, largely influenced by the discontinuation of the 2% stamp duty cut. The West Zone also saw moderation, with the score dipping from 73 to 66, though it too, remains optimistic. The overall Developer Future Sentiment score decreased from 72 to 61, reflecting a more guarded approach. Developers, while cautious, continue to remain optimistic due to strong sales since early 2023. On the other hand, the Non-Developer Future Sentiment core, which includes financial institutions and PE funds, also moderated from 73 to 68. This shift indicates stakeholders' careful consideration of macroeconomic concerns. Optimism in India's broader economic scenario remains strong, with 59% of respondents expecting an improvement, reflecting confidence in the country's economic resilience. However, 24% foresee stability, and 17% predict a decline, underscoring global economic uncertainties. Meanwhile, 51% of respondents anticipate increased funding availability for real estate investments, reflecting continued confidence in the financial sector's support for the real estate market. Shishir Baijal, Chairman and Managing Director of Knight Frank India Pvt Ltd, noted, "As we transition through 2024, a host of factors are playing out globally. The global economic landscape shows resilience despite ongoing challenges. Inflation rates are gradually aligning with central bank targets, enabling a more supportive monetary policy. India, benefiting from stable post-election conditions, remains a strong growth beacon." He added, "Domestic consumption is robust, supported by consumer loans, though there are some signs of growth moderation. Food inflationary pressures persist, but are converging overall towards price stability targets. With a projected GDP growth rate of 7.2% for FY 2025, India's outlook remains positive. An effective monetary policy by the Reserve Bank of India has helped sustain growth with price stability, positioning India as one of the fastest-growing large economies globally." The Current Sentiment score, which reflects stakeholders' view of the market compared to six months ago, moderated from a decadal high of 72 in Q1 2024 to 65 in Q2 2024. This suggests a more measured outlook as stakeholders navigate evolving global economic conditions. Despite the dip, the score remains indicative of optimism. Looking forward, the Future Sentiment index also adjusted from 73 in Q1 2024 to 65 in Q2 2024, signaling a positive yet more conservative outlook for the near term. While macroeconomic uncertainties may dampen enthusiasm, stakeholders continue to show confidence in the sector's resilience and adaptability.

Despite budget provisions, residential housing market will see sales growth, notes recent report by Knight Frank

Since 2013, <a target="_blank" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> has promised that <a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> will have a <a target="_blank" href="https://www.cnn.com/2013/09/18/business/tesla-self-drive-car/index.html">self-driving car</a>. To get there, the company has leaned on a specialized group of test drivers who are part of what's known internally as "Project Rodeo."Test drivers on Project Rodeo say they push the company's self-driving software to its limit. They work to bridge the gap between driver-assist software and fully autonomous driving. Operating on open streets with other vehicles, cyclists, and pedestrians, they have tested unreleased software that will be crucial to Tesla's push into autonomous driving.Test drivers said they sometimes navigated perilous scenarios, particularly those drivers on Project Rodeo's "critical intervention" team, who say they're trained to wait as long as possible before taking over the car's controls. Tesla engineers say there's a reason for this: The longer the car continues to drive itself, the more data they have to work with. Experts in self-driving tech and safety say this type of approach could speed up the software's development but risks the safety of the test drivers and people on public roads."The idea is that you're a cowboy on a bull and you're just trying to hang on as long as you can," a former test driver who trained for the critical-intervention team in San Francisco said.Business Insider spoke with nine current and former Project Rodeo test drivers and three Autopilot engineers in states including California, Texas, and Florida. The drivers worked on training Tesla's Full Self-Driving software and its Autopilot software, which, despite the products' names, require a licensed driver at the wheel. Most asked to remain anonymous, citing a fear of professional reprisal, but their identities are known to Business Insider. Eight of the drivers described experiences that occurred over the past year, mostly between November and April.<div type="image" title="tesla cars in a parking lot" height="2827" width="4195" msid="114814069" hostid="261" sizebytes="1645262"></div>None of the test drivers who spoke with BI said they had been involved in a crash.Five who worked for the company in 2024 said they narrowly avoided collisions, including almost hitting a group of pedestrians. One former critical-intervention driver in Texas told BI that they sometimes ventured into their city's bar district late at night to see how Tesla's FSD software reacted to drunk patrons spilling out after last call. The former driver in San Francisco recalled riding around Stanford University during training, testing how close FSD would allow the vehicle to get to people at crosswalks before they had to take over. And a third critical-intervention driver said they allowed the car to speed through yellow lights and drive 35 mph under the speed limit on an expressway to avoid disengaging the system.A former Autopilot engineer told BI that while testing is done on open roads, Tesla runs hundreds of simulations and sometimes tests difficult scenarios on a closed course before rolling out new software to test drivers' vehicles.Tesla did not respond to a detailed list of questions about Project Rodeo and its self-driving technology.The test drivers' experiences highlight the balancing act Tesla and other automakers face as they prepare their self-driving software for widespread consumer use.Experts say public testing is crucial and can help identify safety issues before the technology hits the market. Missy Cummings, a former safety advisor for the National Highway Traffic Safety Administration, said that while practices vary, she believes many autonomous-vehicle companies likely employ tactics similar to Tesla's."In theory, these drivers have gone through training, and eventually these cars do need to be able to operate in the public domain," Cummings said. She added that clearly marked vehicles could help the public better identify test drivers.Safety experts say fragmented and limited autonomous-vehicle regulations, coupled with self-reporting by automakers, create a complex environment where companies balance public safety with getting their products ready for commercial use."There are very few rules around autonomous testing and a lot of dependency on self-reporting," said Mark Rosekind, a former NHTSA administrator and chief safety innovation officer for Zoox, an Amazon-owned autonomous-taxi firm. "If companies aren't reporting, it's hard to know what's going on."In the past decade, authorities have investigated several automakers, including Tesla, Waymo, and Cruise, over crashes involving self-driving or driver-assist software.<div type="image" title="elon musk looks at a tesla" height="3488" width="4868" msid="114814075" hostid="261" sizebytes="1020846"></div>A lot depends on Tesla's promise of autonomous driving; Musk said <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-worth-basically-zero-without-self-driving-2022-6">in 2022</a> that self-driving was "really the difference between Tesla being worth a lot of money or worth basically zero." The Morgan Stanley analyst Adam Jonas wrote in a <a target="_blank" href="https://www.businessinsider.com/tesla-robotaxi-release-date-elon-musk-stock-price-2024-9">note</a> last month that the company's future valuation was "highly dependent on its ability to develop, manufacture, and commercialize autonomous technologies." Tesla's stock fell by 10% on October 11, the day after the company's robotaxi event. <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q3-earnings-elon-musk-profit-margins-guidance-2024-10">It rebounded after Tesla reported earnings on October 23</a>, and it's up by more than 3% overall in the year to date.<h2 id="e24440fb-f024-4003-b2a2-7b4d055c8c7a">Inside the day-to-day of a Project Rodeo driver</h2>Tesla went on a hiring spree this year, bringing on test drivers in at least half a dozen US cities, a review of LinkedIn profiles suggests.A <a target="_blank" href="https://www.businessinsider.com/tesla-job-openings-seasonal-test-drivers-data-capture-2023-7">job listing from 2023</a> said test drivers needed a "clean driving record, safe driving habits, and a minimum of 4 years of licensed driving experiences." Eight drivers told BI that the onboarding process included two to three weeks of hands-on training, including test drives with a trainer in the passenger seat.According to employees and internal documents, one specialty within Project Rodeo works to replicate the job of a ride-hailing driver by picking random points on a map and driving between them. Those working on a different team, known as the "golden manual" team, drive manually, without any assistance, to train FSD software on what by-the-book, error-free driving looks like.Critical-intervention test drivers, who are among Project Rodeo's most experienced, let the software continue driving even after it makes a mistake. They're trained to stage "interventions" — taking manual control of the car — only to prevent a crash, said the three critical-intervention drivers and five other drivers familiar with the team's mission. Drivers on the team and internal documents say that cars rolled through red lights, swerved into other lanes, or failed to follow posted speed limits while FSD was engaged. The drivers said they allowed FSD to remain in control during these incidents because supervisors encouraged them to try to avoid taking over.The critical-intervention drivers recalled multiple instances where they felt unsafe but believed intervening could put their jobs at risk. The former driver in Texas recalled taking over only after FSD nearly rammed the car into the side of a vehicle stopped at an intersection.Non-critical-intervention drivers said they also felt pressure to push the system as far as possible. Five current and former employees said that they were instructed to intervene if they became uncomfortable with the software's behavior but that they sometimes received feedback from their supervisors if they were considered to have disengaged too early.John Bernal, a former test driver and data analyst at Tesla, said test drivers dealt with risky situations as far back as 2022. (Bernal was terminated that year; he said he was fired for sharing videos on his YouTube channel that showed his personal Tesla malfunctioning while using FSD.) He described instances where he broke traffic laws in order to collect data. Bernal said that his supervisors never instructed him to break the law but that he sometimes felt it was the only way to get the data the company wanted.He recalled one test in 2022 that was designed to see how well the system recognized a red light."My training was to wait until the wheels touched the white line before I could slam on the brakes," Bernal said. He said he sometimes ended up in the middle of the intersection if the system didn't work correctly.He also worked to train the autonomous software on "vulnerable road users" — defined by the Department of Transportation as pedestrians, bicyclists, people on scooters or in wheelchairs, or highway workers on foot — when he manually drove the "Ground Truth Machine," a Tesla outfitted with lidar and radar sensors to help the system map and identify objects."I'd drive over double lines to get close to a bike," Bernal said. "I would go obnoxiously slow through an alleyway where drunk people were, and I would be extremely rude and get really close to people."<div type="image" title="tesla showroom with autopilot posters" height="2939" width="4200" msid="114814073" hostid="261" sizebytes="255868"></div>Two years later, test drivers were asked to train the system near pedestrians, test drivers said. Five recalled a bug with FSD that made vehicles brake too early at crosswalks. To improve its performance, they were instructed to interact with pedestrians as frequently as possible.Sometimes, the drivers said, the software would slam on the brakes when no one was at the crosswalk; other times, it wouldn't stop at all. According to Tesla employees and internal documentation, FSD's performance depended heavily on its software version, and the versions appeared to operate at different levels of caution.The former San Francisco driver said that as they drove around Stanford University, their trainer, another test operator with more experience on the team, chastised them for braking too early. They recalled that at one point they came within three feet of hitting a bicyclist at a roundabout."I vividly remember this guy jumping off his bike. He was terrified," the driver told BI. "The car lunged at him, and all I could do was stomp on the brakes." They said the trainer was pleased by the incident. "He told me, 'That was perfect.' That was exactly what they wanted me to do."The driver added that "it felt like the goal was almost to simulate a hit-or-miss accident and then prevent it at the last second."The former Autopilot engineer said it was better for training to see whether the software could correct itself. They also said that not intervening when the car acted abnormally — including veering into another lane or doing something that confuses another driver — was important for training. Human motorists don't always drive rationally, they explained, and the software needs to know how to respond. It's also easier to parse the data if there are fewer driver interventions, they said."At the critical juncture where it's about to make the key decision," they said, it's helpful to see whether the software makes the right or wrong call. "We want the data to know what led the car to that decision," the engineer said. "If you keep intervening too early, we don't really get to the exact moment where we're like, OK, we understand what happened."<h2 id="52098605-f887-4702-a6ab-cf47e173ce28">A 'Wild West' with little regulation</h2>Tesla is one of many automakers attempting to make autonomous vehicles a reality. Waymo, backed by Alphabet, launched the first driverless taxi service in Phoenix in 2020."In many ways, it's like the Wild West out there," said Cummings, the former NHTSA safety advisor. "There is very little regulation around training or informing the public about testing."The stakes of data collection on public roads are high. In 2018, a self-driving Uber with a person behind the wheel struck and killed a pedestrian in Arizona. Cruise paused testing after one of its driverless vehicles hit a pedestrian in October 2023. Another vehicle had already hit the pedestrian when the Cruise car struck her, dragging her 20 feet before stopping. It <a target="_blank" href="https://www.getcruise.com/news/blog/2024/cruise-resumes-manual-driving-as-next-step-in-return-to-driverless-mission/">resumed testing</a> with safety drivers in some cities in May.<div type="image" title="waymo self driving taxi interior with pedestrians outside" height="4000" width="6000" msid="114814077" hostid="261" sizebytes="568560"></div>Two former Waymo employees said that they had a team similar to Tesla's critical-intervention team but that Waymo's version of critical-intervention testing was limited to closed tracks with dummies. Two former Cruise employees said that they had mapping teams and teams that tested on closed courses and public roads but that, unlike at Tesla, those teams were instructed to take over as soon as the software went off track, and they typically tested with at least two people in the car.A Waymo spokesperson said the company's safety framework included rigorous testing in controlled environments and on public roads. A Cruise spokesperson said the company's vehicles were designed as fully autonomous systems and were therefore fundamentally different from Tesla's driver-assistance technologies.Philip Koopman, an autonomous-driving expert at Carnegie Mellon University, said that Tesla's critical-intervention approach, as described to him by BI, was "irresponsible" and that the company should be playing out all "critical scenarios" on a closed course."By allowing the software to continue misbehaving to the point a test driver needs to avoid a crash, Tesla would be imposing a risk on other road users who have not agreed to serve as test subjects," Koopman said.Alex Roy, a general partner at NIVC and a former director of operations at the autonomous-driving startup Argo AI, said companies should be correcting the software as soon as it strays from the course, particularly on public roads."You should play those mistakes out in a simulation, not on an open road," Roy said. "Real-world testing is necessary, but real-world mistakes are not." The former Tesla engineer said they doubted that computer simulations are sophisticated enough to replicate the data generated by real-world driving. The former engineer said that, to help the software improve, it was best for test drivers to avoid intervening whenever possible."If you have a parent that's holding the bike the entire time, it never gets to learn," the engineer said.Test drivers on Project Rodeo felt this keenly."You're pretty much running on adrenaline the entire eight-hour shift," one former test driver in the Southwest said. "There's this feeling that you're on the edge of something going seriously wrong."Do you work for Tesla or have a tip? Reach out to the reporter via a non-work email and device at <a target="_blank" href="mailto:gkay@businessinsider.com">gkay@businessinsider.com</a> or <a target="_blank" rel="noopener noreferrer" class="c-link">248-894-6012</a>.

Inside 'Project Rodeo,' the Tesla effort pushing the limits of self-driving technology

<ul class="summary-list"><li>President-elect Donald Trump nominated Brendan Carr as the chairman of the Federal Communications Commission.</li><li>Carr has been working for the FCC since 2012.</li></ul>On Sunday, President-elect Donald Trump announced his nomination for the chairman of the Federal Communications Commission, or FCC: Brendan Carr.Carr, who has worked at the FCC since 2012, is the senior Republican on the commission. He is also the author of the FCC chapter of <a target="_blank" class="" href="https://www.businessinsider.com/what-is-project-2025-conservative-political-playbook-heritage-foundation-trump-2024-7">Project 2025</a>, the conservative playbook that's raised questions among Democrats and Republicans alike for pushing policies like eliminating the Department of Education.In a Truth Social post announcing the nomination, Trump wrote that Carr is a "warrior for Free Speech.""He will end the regulatory onslaught that has been crippling America's Job Creators and Innovators, and ensure that the FCC delivers for rural America," Trump added.Carr thanked Trump for the nomination, writing on X that he is "humbled and honored to serve as Chairman of the FCC."The role requires Senate approval. If Carr does become the chairman of the FCC, the appointment stands to have serious impacts on Big Tech.<h2 id="74fa1360-14f5-4659-b046-4dcdf8b4702e">Carr's stance on Big Tech</h2>In his Project 2025 chapter, Carr writes that one of his four main goals for the FCC is "Reining in Big Tech.""The FCC has an important role to play in addressing the threats to individual liberty posed by corporations that are abusing dominant positions in the market. Nowhere is that clearer than when it comes to Big Tech and its attempts to drive diverse political viewpoints from the digital town square," he wrote."It is hard to imagine another industry in which a greater gap exists between power and accountability," he added.Carr outlined several steps for the FCC to take, including publicizing a new stance on the law's approach to Section 230, a part of the Communications Act of 1934.Section 230 states that online service providers aren't legally treated as publishers of their users' posts and can't be held liable for any actions taken "in good faith" to moderate or censor inappropriate content.Carr said the FCC should push for limitations to those rules, which he said have been abused to give Big Tech corporations immunity on censorship. His interpretation of the section would give Big Tech immunity only against being compelled to take down content.Ultimately, Carr wants to revamp Section 230 as a whole, in favor of a set of antidiscrimination rules that prevent companies from censoring posts, with exceptions for illegal content like child sex abuse images.In place, consumers should be allowed to choose their own fact-checkers and filters, Carr said.He proposed that Big Tech firms be compelled to make public their traffic and monetization algorithms, saying they now operate in a "black box."Carr also wants Big Tech firms to start contributing to the Universal Service Fund, a billion-dollar program run by the FCC that helps underprivileged communities get access to telecommunications services.<h2 id="26cff9fc-99ef-4eaf-859b-12158e20d10d">Carr wants a stronger push away from China — and TikTok</h2>Another of Carr's main points in his Project 2025 chapter is to further decouple the US tech industry from China's.Raising concerns about US national security, Carr called for a ban on TikTok, saying it gives China an opportunity to influence how millions of Americans get their news and information.He also called for the US to expand its Covered List, which tracks foreign tech companies deemed a risk to national security, and to prevent American firms from providing cloud computing services to China.Carr also wants the US to publish a list of FCC-approved organizations with at least 10% ownership from "foreign adversarial governments" like China, Russia, and Iran.To smoothen the push away from China, Carr suggested the US contribute another $3 billion in federal funding to help companies that use Chinese tech find and integrate alternatives.Carr's two other points in his Project 2025 chapter are to increase accountability measures for federal tech programs and to drive hard to develop 5G infrastructure.

Trump picked a Project 2025 coauthor to run the FCC. Here's what it means for Big Tech.

<ul class="summary-list"><li>Turkey and Iran are building aircraft carriers for drones to project naval power.</li><li>These drone ships offer new possibilities but are far short of the power of a traditional flattop.</li></ul>Turkey and Iran say they're building navies capable of projecting power far from their shores, and at the center of these ambitions are motherships for aerial drones.These regional powers are betting they can build an expendable air force without the massive costs of aircraft carriers, fighter jets and pilots trained to fly them."I think both navies will use these carriers in the same way — to attack enemy troops and facilities ashore and enemy ships in littoral areas where they can be targeted by shore-based radar and spotters," Bryan Clark, a naval expert at the Hudson Institute think tank, said.Naval experts agree that drone ships represent new possibilities while pointing out that these ships fall far short of the aircraft carriers and amphibious assault ships that top navies sail. Indeed, an amphibious flattop capable of launching helicopters and short-landing and take-off jets was Turkey's original vision, but things didn't go according to plan.The US banned Turkey from acquiring the F-35B, the jump-jet version of the Joint Strike Fighter it had planned to fly from the deck of its TCG Anadolu flagship. Consequently, Turkey made some modifications in the final stages of the Anadolu's construction, ultimately transforming it into a first-of-its-kind drone carrier.Turkey developed the Bayraktar TB3 naval drone for the Anadolu and claims the unmanned Kizilelma fighter jet it is developing could also operate from it. Ankara has plans for a second, larger vessel like the Anadolu, which it claims will have even more domestic components.This is all part of Turkish President Recep Tayyip Erdogan's plans for a naval force that "will protect our rights and interests in overseas impact areas on our national aircraft carrier," as he said in an Aug. 24 speech.Neighboring Iran has also been busy developing drone-carrying ships, which are much more makeshift than the Anadolu.<a target="_blank" href="https://www.twz.com/sea/irans-bizarre-aircraft-carrier-seen-in-new-detail">Undated imagery</a>, most likely taken this year, showed additional construction work on Iran's Revolutionary Guard Corp Navy's Shahid Bagheri drone carrier, which resembles a <a target="_blank" href="https://www.businessinsider.com/russia-keeps-building-ineffective-jets-for-its-navy-aircraft-carriers-2023-11">Soviet aircraft carrier</a>, especially with its distinctive ski jump. Unlike the Anadolu, which was a purpose-built warship from the start, the Shahid Bagheri is a modified container ship with an angled flight deck added for launching drones. It can also carry helicopters and small fast attack boats.In May, Iran's other drone-carrying ex-container ship, the Shahid Mahdavi, completed a 39-day voyage in the Indian Ocean. During that trip, it <a target="_blank" href="https://www.presstv.ir/Detail/2024/08/12/731208/Iran-IRGC-Shahid-Mahdavi-oceangoing-warship-Navy-fifth-Martyr-Lieutenant-General-Haj-Qassem-Soleimani-fleet--heavy-vessels-international-waters-Farsi-Island-Persian-Gulf-">steamed near Diego Garcia</a>, home to a critical American base. Iran's IRGC gloated the voyage represented "a message to Americans that we are able to reach the closest point to you." The IRGC also <a target="_blank" href="https://www.businessinsider.com/iran-flaunts-new-missile-analysts-say-no-game-changer-2024-2">test-fired ballistic missiles</a> from the deck of the Shahid Mahdavi in February to demonstrate the reach of its naval firepower.<div type="image" title="Turkey's TCG Anadolu sailed in a July parade with the Bayraktar TB-3 and Bayraktar KIZILELMA drones on deck." height="1333" width="2000" msid="113149035" hostid="261" sizebytes="179292"></div><h2 id="eb98fdc6-0141-45fb-955b-e2df26908a8e">'Cheap solutions'</h2>While nothing compared with the <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-carrier-strike-groups-significant-combat-power-middle-east-2024-8">supercarriers of the US Navy</a>, ships like the Shahid Bagheri and Shahid Mahdavi could still have a strategic impact.Professor Shaul Chorev, leader of the Maritime Policy and Strategy Research Center at the Israeli National Center of Blue Economy, contrasted these DIY Iranian ships with the Israeli Navy."Unlike us, they use cheap solutions," Chorev <a target="_blank" href="https://www.haaretz.com/israel-news/security-aviation/2024-08-23/ty-article/.premium/the-straits-are-not-enough-iran-wants-to-take-to-the-oceans-with-a-new-drone-carrier/00000191-7e84-d8d0-a7bb-ffa570590000">recently told</a> Haaretz. "They take a merchant ship, equip it with a flight deck, and turn it into a poor man's helicopter or drone carrier. It meets all their needs.""Ultimately, such drones — and eventually unmanned surface vessels — can be positioned at strategic points that would allow them to do what our <a target="_blank" href="https://www.businessinsider.com/israeli-warship-downs-threat-new-air-defense-weapon-first-time-2024-4">Sa'ar 6 corvettes</a> cannot."Although far from the might and versatility of flattops, these vessels enhance Turkey and Iran's respective capabilities to project naval power.Clark, the senior fellow at the Hudson Institute, believes these ships will "elevate" both navies by giving them "reach well beyond their own regions."Nevertheless, he highlighted some critical deficiencies."Drone carriers will not really make the Iranian Navy a blue water force because the IRIN [Islamic Republic of Iran Navy] will still lack the wide-area surveillance and targeting needed to use drones against opposing ships or the underway replenishment ships needed to keep ships at sea," Clark told Business Insider. "Turkey's navy has these capabilities and is already a blue-water force."These drone-carriers also have inherent shortcomings when compared to aircraft carriers and amphibious assault ships in other navies."These carriers initially will lack attributes needed in a true amphibious ship, such as a well deck or transport helicopters to deploy troops, medical facilities and berthing for troops, and repair facilities," Clark said. "They could add some of these capabilities, though, and be a version of an amphibious ship.""They will still lack the survivability of a warship, but they may be good enough for the situations these countries could face against regional competitors," Clark added.Nor are these attempts equal. Andrew "Woody" Lewis, a retired US admiral who's a distinguished fellow at the Center for European Policy Analysis, views Iran's attempts at projecting naval power as second-rate compared to Turkey."Iran's intent to project power far from its shores with drones from the Shahid Bagheri does not give them a capability to attain sea control in a blue water environment," Lewis, a former US 2nd Fleet commander, told BI. "It is nothing more than an attempted terror attack in open water without the ability to hide behind surrogate forces ashore.""The Iranian aspirations are in no way comparable to the tremendous capabilities of the US and our Allies to reconfigure the payload of large- and medium-sized naval platforms to project power in a blue water environment," Lewis said.

Iran and Turkey are betting on drone aircraft carriers to project power 

<ul class="summary-list"><li>Much of the office market may be mired in a downturn, but demand has been strong for high-end space.</li><li>New office construction has dropped off sharply, leading to a potential upcoming shortage.</li></ul>Office vacancy is at a record high in Washington, DC, and the city is regarded as one of the nation's <a target="_blank" href="https://www.businessinsider.com/the-federal-government-is-cutting-back-its-office-footprint-2023-6">most challenged</a> markets – in part because of its heavy reliance on federal tenants that have continued to slim down their spaces.Yet Hilary Goldfarb, a senior managing director at Rockefeller Development who leads the company's Washington, DC, operations, has little doubt about the sleek 400,000-square-foot office property her firm is raising at 600 Fifth St.When the building is completed in mid-2026, Goldfarb says she is "confident it will be full.""This is not hope as a strategy," she added, noting that half of the project was pre-leased to the law firm Crowell &amp; Morning. "It's based on real data and real activity."Across the country, major office markets from New York to San Francisco have been pummeled by the lasting popularity of remote and hybrid work. Newly built, high-end offices, however, are finding takers.That demand has persisted even as office construction has been stifled by higher interest rates and inflation, which have pushed up costs. Worries over the health of the office market have also made lenders reluctant to finance new development.About 30 million square feet of new office space will be completed this year in the US, roughly half of what was built in 2019, before the pandemic, says CBRE, the real estate services firm. In 2025, deliveries will fall even further, to 14 million square feet, CBRE projects.While the overall office market is awash in hundreds of millions of square feet of empty space, CBRE predicts that vacancy in the market's upper segment will drop to pre-pandemic levels by 2027 – around the same time projects that are breaking ground now will be ready.A growing number of office developers have taken notice and see a budding shortage they are eager to cater to. Large office tenants, who often plan their space decisions years in advance, have also begun to recognize that while space options may abound now, they are likely to vanish in the coming years – raising interest in new development."The last six, seven months, there's not just people coming kicking the tires, there's people that are really looking to engage," said Scott Rechler, the CEO of RXR Realty, referring to what he says is growing tenant interest in 175 Park Ave., a 2.8-million-square-foot skyscraper designed by Skidmore, Owings &amp; Merrill that developers RXR and TF Cornerstone are planning next to Grand Central Terminal in midtown Manhattan.The group now aims to begin construction on the more than $4 billion, 1,575-foot-tall tower midway through 2025 and with significantly less pre-leasing than originally planned because of their growing confidence in demand. Asking rents at the tower will be above $200 per square foot, among the highest ever sought in the city."There used to be a point where we thought we would need to pre-lease all of it," Rechler said. "Now, we think that at 500,000 feet, it's probably enough to get going."Rechler said that interest in elite new space had been stoked by other high-end offerings in the market, such as One Vanderbilt, a recently built nearby tower, JPMorgan's new headquarters at <a target="_blank" href="https://www.businessinsider.com/jpmorgan-nyc-headquarters-design-270-park-avenue-request-proposals-2021-4">270 Park Ave.</a>, and a planned skyscraper at 350 Park Ave. that will house the <a target="_blank" href="https://www.businessinsider.com/ken-griffin-citadel-office-space-real-estate-fifth-avenue-2024-8">investment firm Citadel</a>."If your competitors have a building like that that they're identified with and you're trying to be on a parallel path, you're going to say I want to be in a space at the same level or better," Rechler said.<div type="image" title="Large conference room and office space overlooking Midtown Manhattan." height="1852" width="5000" msid="113908775" hostid="261" sizebytes="387772"></div><h2 id="5d3faa99-284e-4185-804a-807a2344cd11">Other developers are laying plans for new towers</h2>The large development firm Related Companies, meanwhile, says that four office towers it has built with Oxford Properties as part of their Hudson Yards mega-project, are now 99% full. The team is readying to begin a new 45-story, 1.1-million-square-foot office property called 70 Hudson Yards next year."We think we're going to be one of the only new buildings in '27, '28 when there's going to be no new supply," Philippe Visser, Related's president of office development, said.Even as overall office vacancy is now at 15.1% in Manhattan, according to CBRE, Visser sees little competition between the overwhelming majority of that empty space and Hudson Yards, where a number of major corporate names have migrated in recent years to take occupancy of newly built buildings. Tenants include Wells Fargo, KKR, BlackRock, Meta, and L'Oréal."All these successful companies who are looking for really dynamic office space want new construction," Visser said.70 Hudson Yards will feature an array of state-of-the-art features, including a triple-paned glass facade, which greatly enhances the insulating properties of glass exteriors and will make the building more energy efficient and appealing to sustainability-conscious office users.In Lower Manhattan, Larry Silverstein hinted that he is close to moving ahead with plans to erect the final office skyscraper at the World Trade Center, a 2.8 million-square-foot tower designed by architect Norman Foster.Rumors abound that Silverstein is close to signing a large lease with American Express that would allow the project to proceed."Just stay tuned" was all Silverstein would say about the possible deal at the tower, 2 World Trade Center.Silverstein said he was certain other tenants would fill up the remainder of the building's available space once construction is underway."When you put everything this buildings has all together, it's superior," Silverstein said. "It never left my mind that someday we would succeed in accomplishing Tower 2 – and that's where we are today."Manhattan is particularly conducive to new construction in that it has both a large captive audience of corporate office users and a deep inventory of old, outdated office properties that have fallen out of favor.But because there is so little office construction on the horizon nationally, builders have begun to lay similar plans in other markets with similar dynamics.Visser, for instance, says Related expects to break ground on a new 40-story, 925,000-square-foot office tower at 725 W. Randolph St. in Chicago by next year.Although that city is also awash in available space, the building would be one of the only available newly built office properties in the Fulton Market neighborhood, a desirable sub-district in the city's West Loop that is known for its retail and restaurants, he said.Related Ross, a spinoff development firm launched earlier this year by Related's founder, Stephen Ross, is about to begin construction on 15 City Place, a nearly 500,000-square-foot office building in West Palm Beach, Florida. The project is about 70% pre-leased to an undisclosed roster of tenants, according to Jordan Rathlev, a senior vice president of development at the company.Rathlev said he recently received a space inquiry from a financial technology firm that is seeking at least 300,000 square feet – far more than 15 City Place can accommodate. The interest from that tenant and others has given a boost to the company's ambitions to begin building a neighboring office property called 10 City Place that will also be around 500,000 square feet in size."The intent is that they're both going at the same time," Rathlev said, indicating Related's hope that it will sign enough anchor tenancy at 10 City Place to build it and 15 City Place simultaneously.<h2 id="70c57a95-0968-4007-a21d-96efb55c9ff3">A tale of two office markets</h2>There is a yawning gap between the health of top tier office space and the wider market, according to data from CBRE.The firm labels new and heavily renovated spaces that meet a host of quality measures as "prime" – a segment that encompasses only 8% of overall office inventory nationally.A net total of 49.3 million square feet of prime space was absorbed between 2020 and the first quarter of 2024, according to CBRE. Around 170.3 million square feet of net vacancy accrued in the rest of the office market during that same period.Overall office vacancy nationally was 19.1% in June, close to a record level. Prime vacancy was 15.5% and CBRE forecasts that figure will drop by almost half, to 8.2% by 2027, its pre-pandemic average."We believe that this absorption estimate is conservative, and the prime vacancy rate could return to its pre-pandemic level sooner given continued job growth," Jessica Morin, CBRE's director of US office research, said.These top-of-the-market spaces, which charged a 60% premium before the pandemic, are now 84% more expensive than competing spaces.With little supply, that differential could grow."8.2% is a healthy prime market and we expect rent growth in this tranche," Morin said.Driving the solid metrics is a lack of new supply.While a total of 44 million square feet of office space is presently under construction, only about 17.3 million square feet of it, 39% of the total, is considered prime, according to CBRE. 8 million square feet of that is pre-leased, meaning that there is only about 10 million square feet of upcoming available top quality space.<h2 id="ccbe14d6-6f15-40b7-b453-f934e9df0594">Financing remains a sticking point</h2>Even with the tailwinds, financing high end office construction remains a challenge. Banks have grown wary of lending to office projects, even those that are likely to be a financial success, because of broader concerns around declining values, increased foreclosures, and potential financial losses in the sector.Rechler said that RXR was considering "alternative strategies" to arrange financing for 175 Park Ave., as a result."The scale of this project is of a level, I'm not sure you'd be able to get enough traditional banks, as an example, to be a lender," Rechler said.Rechler said RXR has explored other routes to arrange the billions of dollars of debt necessary to fund 175 Park Ave.'s construction, including the municipal bond market, in part because the project includes $500 million of transit upgrades to Grand Central Terminal."I feel good," Rechler said, "that we'll have the right combination of pre-leasing and financing to begin next year."

What office meltdown? Developers see a shortage of high-end space and are rushing to build it. 

State-owned <keyword id="20039950" type="General" weightage="20" keywordseo="Bharat-Petroleum-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharat Petroleum Corporation" meta.hostid="153" meta.entityid="Bharat Petroleum Corporation">Bharat Petroleum Corporation</keyword> plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of <keyword id="20115883" type="General" weightage="20" keywordseo="petrochemicals" source="keywords">petrochemicals</keyword> and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword>, its chairman G Krishnakumar has said. At present, Bharat Petroleum Corporation Ltd (<keyword id="19908646" type="General" weightage="100" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword>) owns about 14 per cent of India's oil <keyword id="20064251" type="General" weightage="20" keywordseo="refining-capacity" source="keywords">refining capacity</keyword> and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of '<keyword id="22826627" type="General" weightage="20" keywordseo="project-Aspire" source="keywords">Project Aspire</keyword>' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. "Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing <keyword id="20037698" type="General" weightage="20" keywordseo="petroleum-products" source="keywords">petroleum products</keyword> and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital. "Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable us to create long-term value for our stakeholders while preserving our planet for future generations," he said. "A cornerstone of our long-term strategy, Project Aspire, with a Rs 1.70 trillion investment, marks the initial phase of our multi-decade odyssey to shape the energy of tomorrow. This, coupled with our robust balance sheet, fuels our ambition to lead the <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>." The company is targeting net zero carbon emissions from its operations by 2040. "BPCL has drawn a net-zero roadmap, which encompasses renewable power, green hydrogen, compressed biogas, carbon capture, utilisation, and storage (CCUS), efficiency improvement and the offsets procurements. This would require a phased capital outlay of approximately Rs 1 lakh crore till 2040, and the company is geared for the same," he said. The firm's bet on continuing investing in core businesses is based on the premise that India's booming economy will drive a 4-5 per cent annual increase in energy demand and petroleum product consumption. Also, the demand for major petrochemical products is expected to rise by 7-8 per cent annually. "This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes," he said. BPCL is implementing new petrochemical projects at two of its three oil refineries. A Rs 49,000 crore ethylene cracker project is being implemented at the Bina refinery in Madhya Pradesh, alongside raising oil refining capacity from the current 7.8 million tonnes to 11 million tonnes annually by 2029. A polypropylene project is being set up at Kochi refinery in Kerala by 2027. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi, we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," Krishnakumar said without disclosing either the investments or the location of such a project. Andhra Pradesh is being speculated as the likely site after Prime Minister Narendra Modi's BJP and regional party TDP stormed to power in the state in recently concluded assembly elections. TDP has been demanding the implementation of a refinery-cum-petrochemical complex that was promised as part of the package when the state was split more than a decade back. "Our investment in the petrochemical project is consistent with our aspiration of becoming a dominant player in India's petrochemical growth story," Krishnakumar said. On energy transition, he said BPCL is targeting to build 2 gigawatts (GW) of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity by 2025 and 10 GW by 2035. "We are investing nearly Rs 1,000 crore to establish two 50 MW captive wind power plants in Maharashtra and Madhya Pradesh, which will support our refineries in Mumbai and Bina." The firm is also investing around Rs 300 crore in 72 MWp of solar project in Prayagraj, Uttar Pradesh. "Concomitantly, we are executing green hydrogen projects aligned with the National Green Hydrogen Mission. These projects include a 5 MW electrolyser plant at Bina refinery and a green hydrogen refuelling station with an indigenously developed electrolyser at Kochi," he noted. BPCL, he said, is committed to supporting the transition to electric mobility through a robust and accessible charging infrastructure. The company has installed over 3,000 charging stations, including fast chargers for cars and two-wheelers. 900 fast chargers are installed across 120 highway corridors, which helps address the range, discovery and time anxiety of electric vehicle (EV) owners. "Over the next five years, we aim to install 4-wheeler fast chargers at approximately 6,000 retail outlets across 400 highway corridors, prioritising high-traffic corridors like the Golden Quadrilateral and N-S/E-W highways," he said. On biofuels, he said BPCL sells petrol with 20 per cent ethanol blend at 4,279 out of its over 22,000 petrol pumps. It is also building compressed biogas plants using municipal solid waste to make gas that can be used as CNG in automobiles. The firm is also exploring partnerships in the arena. "These combined efforts, along with the upcoming commissioning of a bio-ethanol refinery, positions BPCL as a key player in India's transition to a greener fuel mix, creating a robust ecosystem for the adoption of cleaner fuels across the country," he added. BPCL is establishing a corporate venture capital fund to invest directly in promising startups. "In order to thrive in this complex and challenging business landscape, we will leverage our agility and focus on operational excellence to ensure continued success. Safety and reliability will remain our top priorities, guiding all our actions. We are committed to upholding the highest standards of corporate governance," he added. He said the energy sector of India stands at an inflection point. "The nation has an ambitious vision of becoming a USD 30 trillion developed economy by 2047. 'Viksit Bharat @2047' will necessitate an almost fourfold increase in primary energy demand." India's exponential growth trajectory will propel it to a pivotal role in the global energy market, accounting for roughly 12 per cent of world energy consumption by 2047. "The key strategic objectives for India in the energy sector will entail significant expansion in refining capacities, raising the share of gas in the energy basket from about 6 per cent to 15 per cent, establishing leadership in petrochemical exports, and sharply reducing energy imports from current levels of 47 per cent to below 25 per cent by 2030 and to zero by 2047," he said. India is targeting 500 GW of non-fossil fuel energy capacity, sourcing half of its energy needs from renewables, reducing carbon emissions by 1 billion tonnes and lowering carbon intensity by 45 per cent by 2030 with the ultimate goal of net-zero emissions by 2070. "Building on its strong Indian energy presence, BPCL aspires to meet 7-10 per cent of the nation's primary energy demand by 2047," he said.

BPCL planning Rs 1.7 lakh crore spend to expand core business, new energy foray over next five years

The Department of Social Justice and Empowerment has been allocated Rs 13,539 crore in the 2024-2025 budget, an increase of 37 per cent from the 2023-2024 revised estimates of Rs 9,853.32 crore. This increase is primarily focused on enhancing <keyword id="20312810" type="General" weightage="20" keywordseo="welfare-programmes" source="keywords">welfare programmes</keyword> for <keyword id="21384605" type="General" weightage="20" keywordseo="marginalised-communities" source="keywords">marginalised communities</keyword> and improving infrastructure for social services. The key areas of funding include Rs 9,549.98 crore for the 'Umbrella Scheme for Development of Scheduled Castes', a significant increase from the Rs 6,780 crore in the previous financial year. For achieving social justice comprehensively, the saturation approach of covering all eligible people through various programmes, including those for education and health, will be adopted, Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> said on Tuesday while presenting the 2024-25 Union Budget in Parliament. She said to ensure <keyword id="22517725" type="General" weightage="20" keywordseo="inclusive-human-resource-development" source="keywords">inclusive human resource development</keyword>, a social justice saturation approach will be adopted. Social justice through the saturation approach refers to a strategy where the government aims to ensure that all eligible individuals are covered by various programmes and initiatives. The department has been allocated Rs 2,150 crore for the 'Umbrella Programme for Development of Other Vulnerable Groups' and Rs 314 crore for the National Action Plan for Drug Demand Reduction. The establishment expenditure of Rs 145.80 crore for the central administration includes allocations for the secretariat and national commissions. The amount is a slight decrease from the previous year's Rs 152.60 crore. The National Commission for Scheduled Castes has been allocated Rs 38 crore and the National Commission for Backward Classes Rs 21 crore. The budget of the Development and Welfare Board for Denotified, Nomadic and Semi-Nomadic Communities remains at Rs 5 crore. Central sector schemes and projects are among the focus areas of this budget, with the <keyword id="22517726" type="General" weightage="20" keywordseo="scholarships-for-higher-education" source="keywords">Scholarships for Higher Education</keyword> for Young Achievers Scheme for Scheduled Castes being allocated Rs 428 crore. This scheme encompasses various sub-schemes, including the National Fellowship for SCs, Free Coaching for SCs and OBCs, Top Class Education for SCs and the National Overseas Scholarship for SCs. The Scheme of Residential Education for Students in High School in Targeted Areas for SCs has been allocated Rs 133.07 crore. The department also prioritises <keyword id="22024434" type="General" weightage="20" keywordseo="economic-assistance" source="keywords">economic assistance</keyword> and <keyword id="20068989" type="General" weightage="20" keywordseo="skill-development" source="keywords">skill development</keyword> through initiatives like the Pradhan Mantri Dakshta Aur Kushalta Sampann Hitgrahi Yojana -- that has been allocated Rs 130 crore -- and the <keyword id="20245482" type="General" weightage="20" keywordseo="venture-capital-fund" source="keywords">Venture Capital Fund</keyword> for SCs and OBCs -- that has bee allocated Rs 50 crore. Additionally, the Self Employment Scheme for Rehabilitation of Manual Scavengers, which previously had allocations, does not feature in the current budget, indicating a possible reallocation of funds or a change in strategy. Support for marginalised individuals, particularly through the Support for Marginalized Individuals for Livelihood and Enterprise programme, which includes comprehensive rehabilitation for persons engaged in begging and welfare of transgender persons, has been allocated Rs 98.46 crore. This marks a substantial increase from the previous year's Rs 32.82 crore, highlighting a growing commitment to addressing these vulnerable groups' needs. Transfers to states and Union Territories under centrally sponsored schemes form a major part of the budget.

Budget: Rs 13,539 cr allocated to social justice department, 37% higher than last year

Researchers at the Indian Institute of Science (<keyword id="41780" type="General" weightage="20" keywordseo="iisc" source="Orion">IISc</keyword>) have developed a brain-inspired analog computing platform capable of storing and processing <keyword id="6355729" type="General" weightage="20" keywordseo="data" source="Orion">data</keyword> in an astonishing 16,500 conductance states within a molecular film. Published on September 11 in the journal Nature, this breakthrough represents a huge step forward over traditional digital computers in which data storage and processing are limited to just two states, the IISc s<keyword id="6355999" type="General" weightage="20" keywordseo="ai" source="Orion">ai</keyword>d. In a press release, the institute said that such a platform could potentially bring complex AI tasks, like training Large Language Models (LLMs), to personal devices like laptops and smartphones, thus taking us closer to democratising the development of AI tools. These developments are currently restricted to resource-heavy data centres, due to a lack of energy-efficient hardware. With silicon electronics nearing saturation, designing brain-inspired accelerators that can work alongside silicon chips to deliver faster, more efficient AI is also becoming crucial. "Neuromorphic computing has had its fair share of unsolved challenges for over a decade," explained <keyword id="23122611" type="General" weightage="20" keywordseo="sreetosh-goswami" source="keywords">Sreetosh Goswami</keyword>, Assistant Professor at the Centre for Nano Science and Engineering (CeNSE), IISc, who led the research team. "With this discovery, we have almost nailed the perfect system - a rare feat," he said. According to IISc, the fundamental operation underlying most AI algorithms is quite basic - matrix multiplication, a concept taught in high school maths. But in digital computers, these calculations hog a lot of energy. The platform developed by the IISc team drastically cuts down both the time and energy involved, making these calculations a lot faster and easier. The molecular system at the heart of the platform was designed by <keyword id="23122609" type="General" weightage="20" keywordseo="sreebrata-goswami" source="keywords">Sreebrata Goswami</keyword>, Visiting Professor at CeNSE. As molecules and ions wiggle and move within a material film, they create countless unique memory states, many of which have been inaccessible so far. Most digital devices are only able to access two states (high and low conductance), without being able to tap into the infinite number of intermediate states possible. By using precisely timed voltage pulses, the IISc team found a way to effectively trace a much larger number of molecular movements, and map each of these to a distinct electrical signal, forming an extensive "molecular diary" of different states. "This project brought together the precision of electrical engineering with the creativity of chemistry, letting us control molecular kinetics very precisely inside an electronic circuit powered by nanosecond voltage pulses," explained Goswami. "Tapping into these tiny molecular changes allowed the team to create a highly precise and efficient neuromorphic accelerator, which can store and process data within the same location, similar to the human brain. Such accelerators can be seamlessly integrated with silicon circuits to boost their performance and energy efficiency," the IISc said. IISc researchers said the key challenge that the team faced was characterising the various conductance states, which proved impossible using existing equipment. The team designed a custom circuit board that could measure voltages as tiny as a millionth of a volt, to pinpoint these individual states with unprecedented accuracy. It also turned this scientific discovery into a technological feat. The team was able to recreate NASA's iconic "Pillars of Creation" image from the James Webb Space Telescope data - originally created by a <keyword id="6537818" type="General" weightage="20" keywordseo="supercomputer" source="Orion">supercomputer</keyword> - using just a tabletop computer. They were also able to do this at a fraction of the time and energy that traditional computers would need. Using their AI accelerator, the team recreated NASA's iconic "Pillars of Creation" image from the James Webb Space Telescope data on a tabletop computer - achieving this in a fraction of the time and energy required by traditional systems, it said. The team includes several students and research fellows at IISc. They also collaborated with Stanley Williams, Professor at Texas A&amp;M University and Damien Thompson, Professor at the University of Limerick, it added. The researchers believe that this breakthrough could be one of India's biggest leaps in AI hardware, putting the country on the map of global technology innovation. Navakanta Bhat, Professor at CeNSE and an expert in silicon electronics led the circuit and system design in this project. "What stands out is how we have transformed complex physics and chemistry understanding into groundbreaking technology for AI hardware," Goswami explained. "In the context of the India Semiconductor Mission, this development could be a game-changer, revolutionising industrial, consumer and strategic applications. The national importance of such research cannot be overstated," he said. With support from the Ministry of Electronics and Information Technology, the IISc team is now focused on developing a fully indigenous integrated neuromorphic chip. "This is a completely home-grown effort, from materials to circuits and systems," he emphasised. "We are well on our way to translating this technology into a system-on-a-chip," he added.

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