Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Union Minister of Road Transport Highways, <keyword id="19897455" type="General" weightage="20" keywordseo="nitin-gadkari" source="keywords">Nitin Gadkari</keyword> on Tuesday said that <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> will soon be in a position to export <keyword id="459398" type="General" weightage="20" keywordseo="Lithium-ion-batteries" source="Orion">lithium-ion batteries</keyword>. Speaking at the Society of Indian Automobile Manufacturers (SIAM's) 64th convention in New Delhi, the Union Minister said," I'm confident that we'll be in a position to export <keyword id="1607661" type="General" weightage="20" keywordseo="Lithium-ion" source="Orion">lithium-ion</keyword> batteries to the different parts of the world. At the same time, the research is going on. The aluminium, ironic oil, and different types of chemistry. I feel that it is also a good thing and there is a huge market for that." <keyword id="19934966" type="General" weightage="20" keywordseo="gadkari" source="keywords">Gadkari</keyword> said with government initiatives and incentives many Indian companies are venturing into lithium-ion battery manufacturing. "The good thing is that lithium-ion manufacturing is now <keyword id="19898586" type="General" weightage="20" keywordseo="adani" source="keywords">Adani</keyword>, <keyword id="19904884" type="General" weightage="20" keywordseo="tata" source="keywords">Tata</keyword>, Maruti, LG, and Samsung. They are all coming in this business. Because...Take the example of semiconductors the government adopted is such a good policy because of that after 2 three years we will be the number one in the manufacturing of the semiconductors in the world," he said. Going further, Gadkari stated that India's EV market is expected to grow to one crore units of annual sales by 2030 and will create five crore jobs. Indian EV market has the potential to become Rs 20 lack crore by 2030. Gadkari asked the industry to focus on quality, better designs, and use the latest technology if they want to compete in the segment and boost exports. Consumers are now conscious of quality. The government is working on establishing a testing agency for better research and testing of vehicle manufacturing. CIIT Training Institute will be established in Pune with a sanctioned cost of Rs 450 crore. "Regarding the Testing Agency for Better Research and Development and Development world-class Testing Agency in CIIT Pune we have decided to start a new venture there with international standards and having all types of the facility which are available in the world and my department has sanctioned 450 Cor or that already DPR is in process and next three months we will try to start this project and that is to be very important for the industry where we will get maximum service and maximum to all the industry," he said. The Union Minister requested the automobile industry to support and cooperate with the government for India's scrappage policy. Gadkari asked the industry to promote and come up with better incentives for the scrappage of old vehicles. The vehicle manufacturers of the USA and Europe have increased their sales by 9 to 12 per cent by promoting scrappage policy. He also thanked the industry for the decision to provide a 3 percent discount for vehicle owners for scrapping their vehicles, adding that the cost of components can be reduced by 20-40 per cent due to the move. Gadkari urged the industry to establish their own scrappage centres. In his remarks, Gadkari said, "The automobile industry plays a pivotal role in realizing the Prime Minister's vision of transforming India into a 5 trillion-dollar economy and elevating it to the third largest economy globally. Our ambition is to extend it as the number one auto manufacturing industry worldwide. As we target a carbon-neutral status by 2070, innovation and sustainable practices in the auto sector are crucial." SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ather-energy-looks-to-raise-3100-crore-files-ipo-papers-with-sebi/articleshow/113214971.cms">Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-iphone-16-pro-max-india-price-specifications/articleshow/113204340.cms">iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms">iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900</a>

India will soon be in a position to export Lithium-ion batteries: Nitin Gadkari

Amid questions on the depleting <keyword id="20776807" type="General" weightage="100" keywordseo="loan-to-deposit-ratio" source="keywords">loan-to-deposit ratio</keyword> in <keyword id="19895091" type="General" weightage="20" keywordseo="Indian-banks" source="keywords">Indian banks</keyword>, a recent report by <keyword id="19896146" type="General" weightage="20" keywordseo="Motilal-Oswal" source="keywords" meta.keywordsubtype="org" meta.entityname="Motilal Oswal" meta.hostid="269" meta.entityid="Motilal Oswal">Motilal Oswal</keyword> suggests that the loan-to-deposit (LD) ratio is likely to subside on its own in the coming months. The debate on loan-to-deposit ratio (LD), particularly concerning sluggish <keyword id="19998084" type="General" weightage="20" keywordseo="deposit-growth" source="keywords">deposit growth</keyword> and potential risks to <keyword id="20089808" type="General" weightage="20" keywordseo="financial-stability" source="keywords">financial stability</keyword> is raised by even the finance minister and the <keyword id="20151998" type="General" weightage="20" keywordseo="RBI-governor" source="keywords">RBI governor</keyword>. However, the report notes that on closer examination, the situation may not be as alarming as it seems. As of 9th August, 2024 the Indian <keyword id="19964544" type="General" weightage="20" keywordseo="banking-sector" source="keywords">banking sector</keyword>'s loan-to-deposit (LD) ratio stood at 77.2 %, which is slightly below its recent peak of 78.2 % on 22nd March 2024, and its all-time high of 78.8 % in September 2013. The report stated that typically a rising LD ratio is indicative of a tightness in the banking sector, potentially indicating overheating. A lower LD indicates that the bank is aggressive in its credit disbursement practises, which could be risky. It highlighted that an analysis of the sector's transactions with the Reserve Bank of India (RBI) through the liquidity adjustment facility (LAF), along with recent trends in the weighted average call rate (WACR), suggests that the current rise in the LD ratio does not indicate tightness, which is why there is no immediate cause of concern. In fact, the report added that the concern over weak deposit growth may be overstated. Historical data show that bank deposits grew at an average rate of 9.5 % during the pre-COVID period (January 2015 to February 2020) and 10.4 % in the post-COVID period (March 2020 to August 2024). Earlier, Finance Minister Nirmala Sitharaman also urged state-run banks to enhance deposit mobilization through attractive offers and focusing on Tier-2 and Tier-3 cities. Loan-to-deposit ratio pegs the total deposits received by the bank against the loans it has offered. It helps in understanding how liquid the bank is. The loan-to-deposit ratio (LDR) is a financial metric that compares a bank's total loans to its total deposits. It's used to assess a bank's liquidity and credit risk, and to inform lending and deposit-taking decisions The report said while the exact measures are unclear, the deposit growth could potentially be increased by making other asset classes less attractive through taxation or interest rates, or by boosting fiscal spending to increase net credit to the government. In its forecast, the report noted that private banks will witness a moderation in their <keyword id="19998083" type="General" weightage="20" keywordseo="credit-growth" source="keywords">credit growth</keyword>, while public sector banks will maintain a healthy credit growth rate. "Our analysis suggests that deposit growth could be raised by either making other asset classes unattractive (through taxation and/or interest rate) or increasing the growth in net credit to the government by pushing fiscal spending higher" the report added. Alternatively, policymakers might consider curtailing loan growth to lower the LD ratio. However, this could slow deposit growth, particularly if corporate credit growth remains weak. Encouraging savers to shift investments from other assets to bank deposits could also be an option, but this carries risks of overreach and potential damage to economic confidence. Das had also flagged the excessive growth, or froth developing in the personal loan space. Notably, while credit growth in unsecured personal loans like credit cards continues to decline, it remains elevated at 23.3% as of June 2024. However, this is a significant reduction from 34.2% witnessed in November 2023. As fiscal spending increases, bank credit to the government is likely to grow, which should elevate deposits and broad money supply. The report said "However, the extent of foreign capital inflows and the RBI's policy for managing these inflows remain uncertain". Last month, RBI governor Shaktikanta Das had also addressed this issue in the 50th meeting of MPC (Monetary Policy Committee). Per him, deposit mobilisation has been lagging credit growth for some time now. This may potentially expose the system to structural liquidity issues. "While there could be a debate regarding ‘deposits funding loans’ vis-à-vis ‘loans funding deposits’, the current regulatory concern stems from the fact that there could be structural changes happening which banks need to recognise and, accordingly, devise their strategies. Households and consumers who traditionally leaned on banks for parking or investing their savings are increasingly turning to capital markets and other financial intermediaries", Das said. Per him, while bank deposits continue to remain dominant as a percentage of financial assets owned by households, their share has been declining consistently, since households are now increasingly allocating their savings to mutual funds, insurance funds, pension funds and other avenues.

Loan-to-deposit ratio will subside on its own in coming months, notes Motilal Oswal report

With so many highway movies doing the rounds, sojourning from city to city and state to state feels like a romantic prelude to a long <keyword id="6374782" type="UNKNOWN" weightage="100" keywordseo="journey">journey</keyword> of self-discovery – till reality strikes. And just like a movie, the reality can be multilayered – varying from bad roads to gasping traffic and minimal road safety. But we promised you relief from those travelling conditions the next time we return with our <keyword id="2053047" type="UNKNOWN" weightage="100" keywordseo="Open-roads">Open Roads</keyword> series. And here we are, with more information about a whole new bunch of <keyword id="2074695" type="UNKNOWN" weightage="100" keywordseo="Intracity-and-inter-city-expressways">intracity and inter-city expressways</keyword> that not only reduce <keyword id="4251245" type="UNKNOWN" weightage="100" keywordseo="Commute-time">commute time</keyword> but also reshape a country’s landscape, <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> and way of life. In the last slideshow of this series, the journey begins from the <keyword id="44875" type="UNKNOWN" weightage="100" keywordseo="West-coast">west coast</keyword> and goes down south. 
 As we have mentioned before, expressways are limited-access roads designed for high-speed traffic. The economic impact of an <keyword id="2074705" type="UNKNOWN" weightage="100" keywordseo="Expressway-network">expressway network</keyword> criss-crossing the country is all too obvious and the <keyword id="6404450" type="ORGANIZATION" weightage="100" keywordseo="Ministry-of-Road-Transport-and-Highways">Ministry of Road Transport and Highways</keyword> (MoRTH) has already recommended a total <keyword id="2074707" type="UNKNOWN" weightage="100" keywordseo="E-way-network">e-way network</keyword> of about 18,637 km in the country. Development work is being done in three phases and is scheduled to be completed by 2022. During the Interim Budget, <keyword id="6355261" type="POSITION" weightage="60" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="43940" type="PERSON" weightage="60" keywordseo="P-Chidambaram">P Chidambaram</keyword> also told the Parliament the road network in the country witnessed over sevenfold increase at 3.89 lakh km over the past decade. 
 Does that mean we may soon see an <keyword id="2074709" type="UNKNOWN" weightage="100" keywordseo="E-way-ecosystem">e-way ecosystem</keyword> similar to the interstate system in the US? Given the obstacles in terms of <keyword id="6364579" type="UNKNOWN" weightage="100" keywordseo="Land-acquisition">land acquisition</keyword>, <keyword id="414903" type="UNKNOWN" weightage="100" keywordseo="fund-crunch">fund crunch</keyword> and <keyword id="2074714" type="UNKNOWN" weightage="100" keywordseo="Slow-implementation">slow implementation</keyword>, it’s definitely going to take some time. Meanwhile, hop into the driver’s seat and go off exploring some super-fast roads you have not travelled yet. After all, it’s a journey with no end… and wheels will always need roads. 
 
Image: Thinkstock Photos/Getty Images

Be It Intracity Or
Inter-city, These 5 Expressways Make Travelling A Breeze

India, a land steeped in history and culture, also boasts a modern tapestry of engineering marvels that stand as testaments to human ingenuity and perseverance. Among these, the country's <keyword id="142777" type="General" weightage="20" keywordseo="Tunnels" source="Orion">tunnels</keyword> weave a story of connectivity, innovation, and the triumph of engineering over challenging terrains. From the Himalayas to the Western Ghats, these tunnels not only reduce travel time but also facilitate year-round access, providing crucial links for transportation and connectivity. Let's delve into the fascinating world of 10 famous <keyword id="19482362" type="General" weightage="20" keywordseo="Tunnels-in-India" source="Orion">tunnels in India</keyword> that encapsulate the nation's spirit of progress. <cmsannotation type="cmsannotation" annotationid="Rohtang Tunnel, Himachal Pradesh: A Gateway to the Himalayas" comment="subhead" text="Rohtang Tunnel, Himachal Pradesh: A Gateway to the Himalayas"><keyword id="166207" type="General" weightage="20" keywordseo="Rohtang-Tunnel" source="Orion">Rohtang Tunnel</keyword>, Himachal Pradesh: A Gateway to the Himalayas</cmsannotation> Nestled in the breathtaking Himalayas, the Rohtang Tunnel, also known as <keyword id="8486907" type="General" weightage="20" keywordseo="Atal-Tunnel" source="Orion">Atal Tunnel</keyword>, is a marvel of engineering connecting Manali to Lahaul-Spiti Valley. Stretching over 9 kilometers, it traverses the Pir Panjal range, providing year-round access and significantly reducing travel time. This engineering feat has not only enhanced connectivity but has also become a symbol of perseverance in the challenging Himalayan landscape. <cmsannotation type="cmsannotation" annotationid="Jawahar Tunnel, Jammu and Kashmir: Bridging Regions with Innovation" comment="subhead" text="Jawahar Tunnel, Jammu and Kashmir: Bridging Regions with Innovation">Jawahar Tunnel, Jammu and Kashmir: Bridging Regions with Innovation</cmsannotation> Situated in the Pir Panjal Range, the Jawahar Tunnel on the Jammu-Srinagar Highway has been a vital link between Jammu and the Kashmir Valley since its construction in the 1950s. This remarkable achievement in connectivity has played a crucial role in uniting regions, showcasing the resilience of Indian engineering in the face of challenging terrains. <cmsannotation type="cmsannotation" annotationid="Pir Panjal Railway Tunnel, Jammu and Kashmir: A Railway Odyssey through the Himalayas" comment="subhead" text="Pir Panjal Railway Tunnel, Jammu and Kashmir: A Railway Odyssey through the Himalayas">Pir Panjal Railway Tunnel, Jammu and Kashmir: A Railway Odyssey through the Himalayas</cmsannotation> Embracing the challenges of the Himalayan terrain, the Pir Panjal Railway Tunnel is a standout feature of the Udhampur-Srinagar-Baramulla Rail Link Project. Spanning over 11 kilometers, it stands as one of India's longest railway tunnels, providing a scenic and efficient rail route through the picturesque landscape. <cmsannotation type="cmsannotation" annotationid="Banihal Qazigund Road Tunnel, Jammu and Kashmir: All-Weather Connectivity in the Valley" comment="subhead" text="Banihal Qazigund Road Tunnel, Jammu and Kashmir: All-Weather Connectivity in the Valley">Banihal Qazigund Road Tunnel, Jammu and Kashmir: All-Weather Connectivity in the Valley</cmsannotation> Connecting Banihal to Qazigund, the Banihal Qazigund Road Tunnel is a vital link for transportation in the Kashmir Valley. Its construction aimed at reducing travel distances and ensuring all-weather road connectivity, thereby enhancing accessibility to the picturesque valley. <cmsannotation type="cmsannotation" annotationid="Konkan Railway Tunnel, Maharashtra: Engineering Elegance Amidst Western Ghats" comment="subhead" text="Konkan Railway Tunnel, Maharashtra: Engineering Elegance Amidst Western Ghats">Konkan Railway Tunnel, Maharashtra: Engineering Elegance Amidst Western Ghats</cmsannotation> The Konkan Railway Line, with its numerous tunnels through the Western Ghats, stands as a testament to engineering elegance. These tunnels not only facilitate smooth train travel but also offer breathtaking views along the scenic Konkan coast, turning a journey into an aesthetic experience. <cmsannotation type="cmsannotation" annotationid="Chenani-Nashri Tunnel, Jammu and Kashmir: Redefining Road Connectivity" comment="subhead" text="Chenani-Nashri Tunnel, Jammu and Kashmir: Redefining Road Connectivity">Chenani-Nashri Tunnel, Jammu and Kashmir: Redefining Road Connectivity</cmsannotation> Spanning over 9 kilometers, the Chenani-Nashri Tunnel on the Jammu-Srinagar National Highway is a beacon of modern infrastructure and safety features. Its construction aimed at reducing travel time and enhancing connectivity between regions, making it a notable engineering achievement in India. <cmsannotation type="cmsannotation" annotationid="Karbude Tunnel, Maharashtra: Navigating the Western Ghats" comment="subhead" text="Karbude Tunnel, Maharashtra: Navigating the Western Ghats">Karbude Tunnel, Maharashtra: Navigating the Western Ghats</cmsannotation> As part of the Konkan Railway route, the Karbude Tunnel is strategically located to ensure seamless train travel through the mountainous landscape of the Western Ghats. Its presence is integral to the efficiency and success of the railway network in Maharashtra. <cmsannotation type="cmsannotation" annotationid="Khowai Tunnel, Meghalaya: Carving Through Rocky Terrain" comment="subhead" text="Khowai Tunnel, Meghalaya: Carving Through Rocky Terrain">Khowai Tunnel, Meghalaya: Carving Through Rocky Terrain</cmsannotation> Carved through the rocky terrain of Meghalaya, the Khowai Tunnel plays a vital role in connecting the northeastern state with the rest of the country through the railway line. Its construction was a significant undertaking, showcasing the commitment to connectivity in even the most challenging landscapes. <cmsannotation type="cmsannotation" annotationid="Chennai Port-Maduravoyal Elevated Expressway Tunnel, Tamil Nadu: Urban Connectivity Elevated" comment="subhead" text="Chennai Port-Maduravoyal Elevated Expressway Tunnel, Tamil Nadu: Urban Connectivity Elevated">Chennai Port-Maduravoyal Elevated Expressway Tunnel, Tamil Nadu: Urban Connectivity Elevated</cmsannotation> The Chennai Port-Maduravoyal Elevated Expressway, featuring a tunnel section, serves as a crucial link between Chennai Port and Maduravoyal. This infrastructure marvel not only facilitates efficient transportation but also eases traffic congestion in the bustling city of Chennai. <cmsannotation type="cmsannotation" annotationid="Karwar Tunnel, Karnataka: Navigating the Western Ghats in Karnataka" comment="subhead" text="Karwar Tunnel, Karnataka: Navigating the Western Ghats in Karnataka">Karwar Tunnel, Karnataka: Navigating the Western Ghats in Karnataka</cmsannotation> Serving the Konkan Railway, the Karwar Tunnel in Karnataka is a noteworthy part of the railway network. It exemplifies the engineering prowess required to navigate the challenging Western Ghats, connecting regions and contributing to the efficiency of the railway network in the state. These 10 famous tunnels in India not only showcase the nation's commitment to connectivity but also highlight the engineering excellence that has overcome geographical challenges. From the Himalayas to the Western Ghats, these tunnels stand as symbols of progress, linking regions, and providing efficient transportation routes. As India continues to forge ahead in its development journey, these tunnels remain as shining examples of human ingenuity and perseverance in the face of formidable terrains.

Unveiling the marvels: 10 engineering triumphs in India's tunnel landscape

<keyword id="8901041" type="UNKNOWN" weightage="20" keywordseo="FamPay">FamPay</keyword>, a <keyword id="2461546" type="COMPANY" weightage="20" keywordseo="FinTech">fintech</keyword> startup focussed on teenagers, on Wednesday said it has raised USD 38 million (about ₹278.4 crore) in funding, led by Elevation Capital and existing investor <keyword id="136147" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital-India">Sequoia Capital India</keyword>. Other early investors, Venture Highway, Y Combinator, Global Founders Capital and new Global Investors like General Catalyst, Rocketship VC, and <keyword id="2779666" type="PERSON" weightage="20" keywordseo="Greenoaks-Capital">Greenoaks Capital</keyword> also participated in the Series A round, a statement said. FamPay will use the latest round of funding to build a leadership team to further fuel growth, it added. FamPay makes it convenient for teenagers to make online and offline payments through FamPay app as well as FamCard. In addition to payment products, FamPay also offers gamified savings experiences. "FamPay is creating a market segment that a lot of brands don't focus on today. It's their (teenage users) first step at being responsible with money, their first step into adulthood. We plan to stay with them from this first step throughout their financial journey by evolving the product as they grow," Kush Taneja, co-founder of FamPay, said. The company has crossed 2 million registered users within 8 months of its launch and has been averaging 100 per cent month-on-month growth. In March 2020, the company announced raising USD 4.7 million in seed funding from Y Combinator, Venture Highway, Sequoia Capital <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>, and Global Founders Capital, as well as angel investors, Twitch co-founder Kevin Lin, Robinhood co-founder Vladimir Tenev, CRED founder <keyword id="192201" type="PERSON" weightage="20" keywordseo="Kunal-Shah">Kunal Shah</keyword> and <keyword id="1552189" type="COMPANY" weightage="20" keywordseo="Pine-Labs">Pine Labs</keyword> CEO Amrish Rau. Launched in 2020 by Kush Taneja and Sambhav Jain, FamPay is a marketing and distribution partner of IDFC FIRST Bank Prepaid Card. "With around 40 per cent of the Indian population being below 18, every year millions of new teenagers will start using their first smartphone and FamPay envisions becoming their go-to brand," Sambhav Jain, co-founder of FamPay, said. "We are privileged and delighted to partner with Sambhav, Kush and the entire FamPay team as they march ahead in their mission to reimagine banking for teenagers. We have been extremely impressed by FamPay's product innovations, growth trajectory and customer love - all early signs that FamPay is destined to become the destination app for GenZ and gateway for their access to fintech and beyond," said Mridul Arora, Partner, Elevation Capital. India today has a sizable population of adolescents and we believe that catering to this unserved audience with innovative products contextualised to their needs and behaviours will create a very valuable business, Arora added. "It was apparent to us they (FamPay) understood their users and had very nuanced views on how to serve them best. The team is excited to double down in this round and is looking forward to working with them to help build FamPay over the next many years," Shailendra Singh, Managing Director of Sequoia Capital (India) Singapore, said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/twitter-may-now-be-directly-responsible-for-every-single-tweet-in-india/articleshow/83565645.cms">Twitter may now be directly responsible for every single tweet in India</a> <a href="https://www.businessinsider.in/policy/news/china-will-not-buy-iron-copper-aluminum-zinc-and-some-other-commodities-from-foreign-countries/articleshow/83565216.cms">China has decided to take global commodity bulls by their horns ⁠— to protect the profit margins of its small businesses</a>

Teenager-focused payments startup FamPay raises $38 million led by Elevation Capital and Sequoia Capital

<keyword id="4322500" type="UNKNOWN" weightage="20" keywordseo="Indias-longest-road-tunnel">India's longest road tunnel</keyword>, built on the <keyword id="513505" type="UNKNOWN" weightage="20" keywordseo="Jammu-Srinagar-national-highway">Jammu-Srinagar National Highway</keyword>, will be inaugurated by PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> on April 2. 
 
Also read: <a href="http://www.businessinsider.in/hydro-projects-in-kashmir-fastened-by-india-pakistan-bothers/articleshow/57669249.cms">Hydro projects in Kashmir fastened by India, Pakistan bothers</a> 
 
This tunnel will cut short the distance between Jammu and Srinagar by nearly 30 km, slashing down travel time by two and a half hours. 
 
Also read: <a href="http://www.businessinsider.in/kashmir-the-bare-facts-of-a-region-torn-into-pieces/articleshow/56080054.cms">Kashmir: The Bare Facts of a region torn into pieces</a> 
 "The Prime Minister will inaugurate the <keyword id="2695203" type="UNKNOWN" weightage="20" keywordseo="Chenani-Nashri-tunnel">Chenani-Nashri tunnel</keyword> on J&amp;K highway on April 2," said Jitendra Singh, Union Minister of State in PMO. 
 
Also read: <a href="http://www.businessinsider.in/modi-now-wants-to-limit-cash-transactions-at-rs-2-lakh/articleshow/57755412.cms">Modi now wants to limit cash transactions at Rs 2 lakh</a> 
 
After the inauguration, <a href="http://www.businessinsider.in/topic/Narendra-Modi">Modi</a> will also address a public rally, dedicating the tunnel to the nation. 
 
The twin-tube tunnel, which is 9.2 km long, has been under construction since May 23, 2011. A part of a 286-km-long four-lane project on the highway, it cost the government Rs 3,720 crore. 
 
Also read: <a href="http://www.businessinsider.in/Ladakhs-ecology-has-been-ruined-thanks-to-Aamir-Khans-3Idiots/articleshow/55581434.cms">Ladakh’s ecology has been ruined, thanks to Aamir Khan’s ‘3 Idiots’</a> 
 
It’s the first tunnel in India equipped with world class "integrated tunnel control system", providing automatic actuation of ventilation, fire control, signals, communication and electrical systems. 
 
Talking of the toll, an LMV vehicle will be charged Rs 55 on one side and Rs 85 for to-and-fro journey while the monthly pass would be of Rs 1,87. Bigger vehicles like mini buses will have to pay Rs 90 as one side toll and Rs 135 for to-and-fro, while for buses and trucks, it will be Rs 190 and Rs 285, respectively. 
 
Also read: <a href="http://www.businessinsider.in/Four-boys-from-JK-border-towns-make-their-way-to-IITs/articleshow/55453770.cms">These boys from J&amp;K border towns studying in IITs prove new age youth in the terror-stricken region seek jobs, not guns</a> 
 There is an arrangement of <keyword id="104843" type="UNKNOWN" weightage="20" keywordseo="mobile-network">mobile network</keyword> and <keyword id="4843174" type="UNKNOWN" weightage="20" keywordseo="FM-radio-channel">FM Radio channel</keyword> inside the tunnel. 
 
(Image source: Livemint)

India's longest road tunnel to see the light of day

Travelling around the wonderland that is India is a thrilling experience, especially when fast-moving super <keyword id="168020" type="UNKNOWN" weightage="100" keywordseo="expressways">expressways</keyword> are right here to ensure some wonderful on-the-road vacations. Of course there are business travellers who are in a hurry to reach their destinations and <keyword id="2053038" type="UNKNOWN" weightage="100" keywordseo="Super-fast-expressways">super fast expressways</keyword> minus traffic snarls suit them down to the ground. But then, you can be one of those away on a leisure trip and looking forward to a fast and panoramic drive on your way to a new city. Either way, the expressways of India won’t disappoint you. As we mentioned before, expressways are controlled-access highways like the freeways or motorways or autobahnen in the US and Europe, essentially designed for high-speed traffic. As of now, most of the expressways in India are 6-8 lane toll <keyword id="6358996" type="PERSON" weightage="100" keywordseo="roads">roads</keyword> and cover a total distance of nearly 1,208.19 km. 
 
Last month, we brought you <a href="http://www.businessinsider.in/8-Super-ExpresswaysIn-North-India-That-Fulfil-Your-Need-For-Speed/articleshow/29486214.cms">8 super expressways</a> in North India that fulfil your need for speed. And this time, we move to the West and the North-west of the country where some more picturesque drives await us. However, the <keyword id="52840" type="UNKNOWN" weightage="100" keywordseo="sea-links">sea links</keyword> and the <keyword id="2053055" type="UNKNOWN" weightage="100" keywordseo="Coastal-expressways">coastal expressways</keyword> will come up in our next article. So grab a coffee, get a map and read on. By the time you are through, you could be checking the map and picking out the spots where you want to go first. As the Turkish playwright <keyword id="1981629" type="UNKNOWN" weightage="60" keywordseo="Mehmet-Murat">Mehmet Murat</keyword> ildan has said: Some roads are so beautiful that you know not whether you travel on the road or the road travels in you! 
 
Image: Thinkstock Photos/Getty Images

Open Roads Return: 6 Super
Expressways In West & North-west India

Even in this age of jet travel and space tourism, highways hold an irresistible charm for travellers out to have an up, close and personal experience of the wide roads stretching ahead for miles, uninterrupted views of a breathtaking landscape, the occasional flyways and the not-so-familiar villages and towns rushing by. It’s even better than chugging along the countryside in a train. You can stop any time you want – to sample some chatpati chaat and a steaming cuppa of chai at a roadside dhaba; to talk to people; to take a dekko at local interests or simply laze an hour or two in shine or rain with the greens around you and the fresh smell of soil floating in the air. 
 
Now that our <a href="http://www.businessinsider.in/Chugging-Up-7-Mesmerising-Mountain-Train-RidesIn-India/articleshow/24288850.cms">train series</a> is over (but we promise to bring you more as soon as new and exotic routes come up), we are back with a more exciting roadmap of <keyword id="168020" type="UNKNOWN" weightage="100" keywordseo="expressways">expressways</keyword> that criss-cross the entire country, connecting the four metros and many of the Tier I cities, and going much beyond the urban landscape. Infrastructure development in India has undergone a sea change over the past few years and the country currently boasts the <keyword id="2034191" type="UNKNOWN" weightage="100" keywordseo="Second-largest-road-network">second largest road network</keyword> in the world, with a road length of over 4,689,842 km, as per 2013 data from the <keyword id="6404450" type="ORGANIZATION" weightage="100" keywordseo="Ministry-of-Road-Transport-and-Highways">Ministry of Road Transport and Highways</keyword>. 
 Starting from FY2012-13, the <keyword id="44734" type="ORGANIZATION" weightage="80" keywordseo="Indian-Government">Indian government</keyword> will be also putting $17 billion over the next five years, being sourced through public-private partnership (<keyword id="6361580" type="COMPANY" weightage="100" keywordseo="PPP">PPP</keyword>) road projects. This will be used by the <keyword id="87432" type="ORGANIZATION" weightage="100" keywordseo="National-Highways-Authority-of-India">National Highways Authority of India</keyword> (<keyword id="49448" type="ORGANIZATION" weightage="100" keywordseo="nhai">NHAI</keyword>) for the planned series of <keyword id="174913" type="ORGANIZATION" weightage="100" keywordseo="BOT">BOT</keyword> (build, operate and transfer) highways. In spite of several bottlenecks, the NHAI has set up impressive targets and aims to develop 20 km/day, in a bid to fast-track the country’s <keyword id="2034194" type="UNKNOWN" weightage="100" keywordseo="Road-network-expansion">road network expansion</keyword>. 
 As of July 2013, <keyword id="6373156" type="ORGANIZATION" weightage="100" keywordseo="National-Highways">national highways</keyword> account for 79,116 km, connecting all major cities and state capitals. Expressways, however, differ a bit in the sense they are controlled-access highways like the <keyword id="610047" type="UNKNOWN" weightage="100" keywordseo="freeways">freeways</keyword> or <keyword id="1333990" type="UNKNOWN" weightage="100" keywordseo="motorways">motorways</keyword> or autobahnen in the US and Europe, essentially designed for high-speed traffic. As of now, most of the expressways in India are 6-8 lane <keyword id="120837" type="UNKNOWN" weightage="100" keywordseo="toll-roads">toll roads</keyword> and cover a total distance of nearly 1,208.19 km. India expects to add another 3,530 km of expressways by 2014 as projects under construction get completed. Another massive programme is also under way to expand the network and the Indian government plans to add an additional 18,637 km of expressways by 2022. 
 So are you ready to emerge on another breath-taking <keyword id="6374782" type="UNKNOWN" weightage="80" keywordseo="journey">journey</keyword> with us, literally a journey of thousand miles and more? We will bring you the super expressways zone-wise – so that you know which route to choose when travelling North or South, East or West. And it will be a beautiful journey as art and cultural critic <keyword id="2034192" type="UNKNOWN" weightage="60" keywordseo="Dave-Hickey">Dave Hickey</keyword> so rightly said – Beauty is and always will be blue skies and open highway. 
 
Image: Wikimedia Commons

8 Super Expressways
In North India That Fulfil Your Need For Speed

As the mercury plummets and the latest weather forecast predicts fresh rounds of <keyword id="10265" type="UNKNOWN" weightage="100" keywordseo="Snow">snow</keyword> across the Indian mountains, a gleeful crowd from home and abroad goes traipsing upon the ethereal <keyword id="918784" type="UNKNOWN" weightage="100" keywordseo="ski-slopes">ski slopes</keyword>. Heading off to the <keyword id="23693" type="ORGANIZATION" weightage="100" keywordseo="Swiss-Alps">Swiss Alps</keyword> or <keyword id="2005582" type="UNKNOWN" weightage="100" keywordseo="Val-dIsre">Val d’Isère</keyword> in <keyword id="6354785" type="COUNTRY" weightage="60" keywordseo="France">France</keyword> might be the classic choice of many, but <keyword id="2005583" type="UNKNOWN" weightage="100" keywordseo="Powder-skiing">powder skiing</keyword> in the <keyword id="52569" type="CITY" weightage="100" keywordseo="himalayas">Himalayas</keyword> is getting increasingly popular among local and <keyword id="1704954" type="UNKNOWN" weightage="100" keywordseo="global-tourists">global tourists</keyword> in love with <keyword id="1614562" type="UNKNOWN" weightage="100" keywordseo="winter-sports">winter sports</keyword>. India is now home to a dozen or so <keyword id="2005584" type="UNKNOWN" weightage="100" keywordseo="Ski-areas">ski areas</keyword> and plans are afoot to build several international standard <keyword id="78303" type="UNKNOWN" weightage="100" keywordseo="Ski-resorts">ski resorts</keyword>. 
 <keyword id="90842" type="SPORT" weightage="100" keywordseo="skiing">Skiing</keyword> took off in the country during the days of the <keyword id="81273" type="ORGANIZATION" weightage="100" keywordseo="British-Raj">British Raj</keyword> when two army officers first started the <keyword id="2005578" type="UNKNOWN" weightage="100" keywordseo="Ski-Club-of-India">Ski Club of India</keyword> in <keyword id="108228" type="CITY" weightage="100" keywordseo="Gulmarg">Gulmarg</keyword> back in 1927. Fast-forward to 2014 and you will find improved facilities, along with the eternally breathtaking <keyword id="6439698" type="ENTERTAINMENT" weightage="100" keywordseo="mountain">mountain</keyword> views, the best <keyword id="2005590" type="UNKNOWN" weightage="100" keywordseo="Powder-snow">powder snow</keyword> and the vast, undulating <keyword id="2005591" type="UNKNOWN" weightage="100" keywordseo="Snowy-tracks">snowy tracks</keyword> – from <keyword id="2005592" type="UNKNOWN" weightage="100" keywordseo="Gentle-slopes">gentle slopes</keyword> and <keyword id="2005593" type="UNKNOWN" weightage="100" keywordseo="Groomed-trails">groomed trails</keyword> to <keyword id="2005595" type="UNKNOWN" weightage="100" keywordseo="Steep-bowls">steep bowls</keyword>, <keyword id="2005596" type="UNKNOWN" weightage="100" keywordseo="Chutes">chutes</keyword> and <keyword id="2005598" type="UNKNOWN" weightage="100" keywordseo="Tree-runs">tree runs</keyword> spilling off the magnificent ridges. Gulmarg in <keyword id="23412" type="CITY" weightage="100" keywordseo="Jammu-Kashmir">Jammu &amp; Kashmir</keyword> and <keyword id="484044" type="CITY" weightage="100" keywordseo="Auli">Auli</keyword> in <keyword id="44522" type="CITY" weightage="100" keywordseo="Uttarakhand">Uttarakhand</keyword> are the showpiece destinations, especially Auli, which features the <keyword id="2005599" type="UNKNOWN" weightage="100" keywordseo="Second-largest-slopes-in-Asia">second largest slopes in Asia</keyword>. A research survey by the <keyword id="2005579" type="UNKNOWN" weightage="100" keywordseo="Alpine-Tourism-Promotion-Council">Alpine Tourism Promotion Council</keyword> (ATPC) considers Auli’s slopes to be the best in the world. 
 <keyword id="2005600" type="UNKNOWN" weightage="100" keywordseo="Heli-skiing">Heli-skiing</keyword> in the Himalays is another fabulous experience as the chopper flies one to spectacular heights and the <keyword id="105846" type="POSITION" weightage="100" keywordseo="Skier">skier</keyword> rides down the unexplored slopes – the perfect setting for this great <keyword id="6739232" type="UNKNOWN" weightage="100" keywordseo="Adventure-sport">adventure sport</keyword>. The thrill-hunters can also go <keyword id="2005604" type="UNKNOWN" weightage="100" keywordseo="Yak-skiing">yak skiing</keyword> in <keyword id="6363190" type="COMPANY" weightage="100" keywordseo="Manali">Manali</keyword> – an <keyword id="2005608" type="UNKNOWN" weightage="100" keywordseo="Extreme-snow-sport">extreme snow sport</keyword> only meant for the brave hearts. Those looking for <keyword id="2005609" type="UNKNOWN" weightage="100" keywordseo="Off-season-skiing">off-season skiing</keyword> would not be disappointed either. There is <keyword id="2005611" type="UNKNOWN" weightage="100" keywordseo="Grass-skiing-in-summer">grass skiing in summer</keyword>, held on a 120 meter-long grassy slope in <keyword id="569617" type="UNKNOWN" weightage="100" keywordseo="Solang-Valley">Solang Valley</keyword> where one can use special <keyword id="2005612" type="UNKNOWN" weightage="100" keywordseo="Skis-fitted-with-wheels">skis fitted with wheels</keyword>. If you are already feeling excited and want to chill out among the snow, slopes and the wild <keyword id="383218" type="PERSON" weightage="100" keywordseo="slides">slides</keyword> and <keyword id="95340" type="UNKNOWN" weightage="100" keywordseo="Tumbles">tumbles</keyword>, here is a look at India’s 7 <keyword id="2005614" type="UNKNOWN" weightage="100" keywordseo="Best-skiing-destinations">best skiing destinations</keyword>. 
 
Image: Wikipedia

Time To Celebrate The Snow: Check Out These 7 Ski Destinations
In India

(Eds: Adding details) Mumbai, May 22 () The Reserve Bank on Friday unexpectedly slashed benchmark interest rates to their lowest levels since 2000 and extended the moratorium on repayment of bank for three months to ramp up support for the economy which is likely to contract for the first time in over four decades. The central bank, which advanced the monetary policy committee (MPC) meeting for the second time since March, extended the three-month moratorium of loan repayments, from June 1 to August 31 and raised the limit on banks' group exposure to companies. It also increased and pre and post-shipment of credits for exports from 1 year to 15 months and gave additional three months to foreign portfolio investors to meet investment needs. The benchmark repurchase (repo) rate was cut by 40 basis points to 4 per cent, the lowest since the benchmark came into being in 2000, Governor Shaktikanta Das said. Consequently, the reverse repo rate was cut to 3.35 per cent from 3.75 per cent. The benchmark rates decide the interest on home, auto and other loans. They also dictate interest rates on savings deposits, which are likely to fall in tandem. The Governor said the MPC had voted to maintain its accommodative stance, implying more rate cuts in the future if the need arises. In its first official forecast for economic growth, the central bank said the gross domestic product (GDP) is likely to contract in FY21 (April 2020 to March 2021) as a direct fallout of the outbreak of coronavirus and ensuing lockdown. Even before the coronavirus outbreak, the Indian economy was experiencing a slowdown, with GDP growth declining to a projected 4.9 per cent in 2019-20 fiscal, its slowest pace in the last decade. "The macroeconomic impact of the pandemic is turning out to be more severe than initially anticipated, and various sectors of the economy are experiencing acute stress," RBI said adding that beyond the destruction of economic and financial activity, livelihood and health are severely affected. Das said the combined impact of demand compression and supply disruptions will depress economic activity in the first half of the year, with some pick-up in growth impulses being seen in H2 2021 onwards. India has been under lockdown since March 25 to contain the spread of the virus, resulting in supply disruptions and demand compression. Das said domestic economic activity has been impacted severely by the lockdown that has been extended till May 31. "High-frequency indicators point to a collapse in demand beginning March 2020 across both urban and rural segments," he said. Supplementing government's COVID-19 stimulus that mostly comprised of credit lines to small business and farmers, RBI said it will facilitate the flow of funds at affordable rates and revive animal spirits. "The RBI will continue to remain vigilant and in battle readiness to use all its instruments and even fashion new ones, as the recent experience has demonstrated, to address the dynamics of the unknown future. "The goals, as I have enunciated earlier, are to keep the financial system and financial markets sound, liquid and smoothly functioning; to ensure access to finance to all, especially those that tend to get excluded by financial markets; and to preserve financial stability," Das said. The RBI will continue to remain vigilant and in battle readiness to use all its instruments and even fashion new ones, as recent experience has demonstrated, to address dynamics of the unknown future, he stated. Five of the six-member monetary policy committee (MPC) including Das voted for a 40 bps reduction in policy repo rate, while Chetan Ghate voted for a reduction by 25 bps. The RBI supplemented the interest rate cut by extending by till August the permission to all banks to give a three-month moratorium on payment of monthly instalments on all outstanding loans, providing relief to home and auto buyers as well as real estate sector where construction activities are at a standstill. The moratorium on interest on working capital was also extended by three months. Also, interest accumulated for the six-month moratorium period can be converted into a term loan, Das said adding the rescheduling of payments on account of the moratorium/deferment will not qualify as default. Further, bank exposure to corporates has been raised to 30 per cent of the group's eligible capital base from the current limit of 25 per cent, a move that will provide headroom for additional credit required by large corporates. Das said the inflation outlook is highly uncertain due to the outbreak of the COVID-19 pandemic and expressed concern over elevated prices of pulses. He also said there is a need to review import duties to moderate prices. Headline inflation may remain firm in the first half of the year and may ease in the second half. Inflation may fall below 4 per cent in the third or fourth quarter of the current fiscal, according to the Governor. "If the inflation trajectory evolves as expected, more space will open up to address the risks to growth," he said. This is the second straight cut in interest rates in two months. On March 27, RBI had cut interest rates by 75 basis points. "After extensive discussions, the MPC voted unanimously for a reduction in policy repo rate and for maintaining the accommodative stance of the monetary policy as long as necessary to revive growth and to mitigate the impact of COVID-19 while ensuring that inflation remains within the target," Das said. DP ANZ ANZ ANS ANS

RBI's 2nd booster shot to economy: Key interest rates slashed to lowest levels since 2000

<ul><li>This year will likely be remembered for marking its emergence as the world's most populous nation.</li><li>By 2050, the UN expects <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> will have 1.6 billion residents and China 1.3 billion.</li><li>A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics.</li></ul> If any major middle-income country is truly outperforming in the coming decades, it's the world's soon-to-be third largest economy (and its largest democracy), India, Eurasia Group said in a report. "In my view, 2023 will be remembered for India's emergence as the third pole of the world," wrote <keyword id="15992875" type="General" weightage="50" keywordseo="shigesaburo-okumura" source="Orion">Shigesaburo Okumura</keyword>, Editor-in-Chief of Nikkei Asia, in a recent article. Another important factor not to be neglected is India. This year will likely be remembered for marking its emergence as the world's most populous nation, Okumara wrote. According to the UN, China's population last year was 1.426 billion while India's was 1.417 billion. In July, the UN forecast that China's population would fall in 2023 while India's would surpass it. By 2050, the UN expects India will have 1.6 billion residents and China 1.3 billion. A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics, Okumara said. Moreover, decoupling between the US and China and the rebuilding of technology supply chains to exclude China benefits India. <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> is building iPhone 14s in India. <keyword id="292865" type="General" weightage="50" keywordseo="natarajan-chandrasekaran" source="Orion">Natarajan Chandrasekaran</keyword>, chairman of <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword>, has talked of plans to produce semiconductors in the subcontinent. In March, India will host the plenary session of the <keyword id="833063" type="General" weightage="50" keywordseo="trilateral-commission" source="Orion">Trilateral Commission</keyword> for the first time. This year, it is also chairing the Group of 20, a role that will involve a leaders' summit and many ministerial meetings. The Modi government will be eager to show leadership ahead of India's own elections in 2024, Okumara wrote. "The new year thus could mark the beginning of a tripolar world, involving the US, China and India. New Delhi is undeniably on the rise," Okumara concluded. <keyword id="47256" type="General" weightage="50" keywordseo="challenges" source="Orion">Challenges</keyword>, however, are mounting for India's economy with the GDP forecast at a half-century low. Motilal Oswal Financial Services forecast in a note that after growing strongly for two consecutive years, India's real GDP growth would decelerate to 5.2 per cent YoY in FY24, while nominal GDP growth would weaken even sharply to 7-7.5 per cent, led by easing inflation. A combination of factors such as slower global economy, fading pent-up demand and normalising base effects would contribute to slower real growth. With an expected retail inflation print at just 4.3 per cent and a mere 1 per cent growth in the wholesale price index (<keyword id="46000" type="General" weightage="50" keywordseo="wpi" source="Orion">WPI</keyword>) in FY24, the GDP deflator could be around 2 per cent, dragging down India's nominal GDP growth to the lowest level compared to any year between the early 1970s and FY19 (that is, half-a-century pre-Covid period), the report said. Such slow growth rate would have some serious implications for the macro economy and financial markets. "Overall, we believe that unlike the past 12-15 months, the narrative will reverse in FY24. Inflation concerns will take a back seat and growth worries will resurface. This may be true not only for India, but also for the entire global economy. At the same time, restrictive monetary policy will fail to boost financial markets. Accordingly, CY23 could be very painful," the report said. Revenue of listed companies is highly correlated with nominal GDP growth (and WPI-inflation). In case of single-digit nominal GDP growth, corporate sales growth is also expected to weaken from an average of &gt;30 per cent YoY in the past seven quarters to single digits in FY24. With an expectation of weaker nominal GDP growth in FY24, we estimate India's debt growth to also weaken. Thus, bank credit growth could also moderate from 15-16 per cent in FY23 to 12 per cent in FY24 with a downward bias, the report said. As central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies that would do them lasting harm, according to a comprehensive new study by the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword> in September. Several historical indicators of global recessions are already flashing warnings. The global economy is now in its steepest slowdown following a post-recession recovery since 1970. Global consumer confidence has already suffered a much sharper decline than in the run-up to previous global recessions. The world's three largest economies -- United States, China, and the Euro zone -- have been slowing sharply. The experience of the 1970s, the policy responses to the 1975 global recession, the subsequent period of stagflation, and the global recession of 1982 illustrate the risk of allowing inflation to remain elevated for long while growth is weak. The 1982 global recession coincided with the second-lowest growth rate in developing economies over the past five decades, second only to 2020. It triggered more than 40 debt crises and was followed by a decade of lost growth in many developing economies, the World Bank said. India's current account deficit expectedly swelled to a 37-quarter high of $36.4 billion (4.4 per cent of GDP) in Q2 FY23 from $18.2 billion in Q1 FY23 (2.2 per cent of GDP). The resulting net balance of payments (BoP) position registered a deficit of $30.4 billion (3.7 per cent of GDP), its weakest since the 2008 global financial crisis, compared to a surplus of $4.6 billion in Q1 FY23, Acuite Ratings said. Amid an uncertain geopolitical environment and slowing global growth, however, risks will remain on both current account balance and capital flows, it said. With excessive demand supply disparities, bloated supply chain management and battle against inflation weighing down on global economic growth, the New Year started on a gloomy outlook as IMF predicts global GDP growth topping at 2.7 per cent, narrowly escaping recession, Nuvama Professional Clients Group said in a note. The economy has been supported by sturdy domestic demand as indicated in GST collections and consumer spending. However, the industrial output contracted by 4 per cent YoY in October, the worst in over two years, hobbled by the drop in orders from western markets and weak investment at home, the note said. Standard Chartered said in a report that 2023 global macroeconomic backdrop is likely to be challenging given the heightened risk of a slowdown as lagged effects of monetary policy tightening leads to a weaker demand scenario and lower corporate earnings performance. As the monetary policy rate cycle peaks amid receding inflationary pressures in the second half of the year, risk sentiment could improve with the growth outlook stabilising. "In our assessment," the bank noted, "India's growth-inflation dynamics is stable and better than its peers." The post-pandemic economic recovery cycle remains strong amid supportive government policies and a pick-up in investments. Further, the likely broadening of the rural economy's recovery and of the service sectors is a strong tailwind, the note said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-startup-economy-stares-at-deepening-funding-winter-in-2023/articleshow/96807902.cms">India's startup economy stares at deepening funding winter in 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/ar-rahman-unknown-facts-about-about-indian-composer-and-oscar-winner/articleshow/96793884.cms">AR Rahman can leave dinner midway if inspiration strikes &amp; other anecdotes about the reticent music maestro</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/india-mulls-2nd-covid-booster-even-as-coverage-of-first-dose-remains-feeble/articleshow/96792098.cms">India mulls 2nd Covid booster even as coverage of first dose remains feeble</a>

India could emerge as the third pole despite GDP growth worries say experts

The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) can argue its case strongly with the Central government as to why the <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword> was not controlled at 4 per cent, said experts. The RBI's Monetary Policy Committee (MPC) will meet on November 3 to discuss what it would tell the Centre as to why it was not able to restrain the inflation. The RBI may also sound out the Central government as to the course of inflation as well as the reasons as to why it may be at the elevated levels. In <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, the retail inflation rose to 7.41 per cent in September. Experts were of the view that a combination of global and local (glocal) factors -- geopolitical developments, crop production, reduction in crude oil production and the resulting price increase and depreciating rupee -- are expected to heat up the prices. The RBI on its part is trying to contain the inflation by increasing the repo rate -- the rate at which it lends to the banks. The central bank has increased the repo rate by 190 basis points in recent times and the last one was by 50 basis points last month. "There is a strong case for the RBI arguing that (a) inflation has primarily been caused by supply side shocks with global commodity prices having an impact (b) rupee depreciation has added to imported inflation (c) the RBI on its part was proactive in raising rates even between two policies as it did in May when it saw things were going out of hand post Ukraine war and (d) there have been some measures like increase in goods and services tax (GST) which has added to inflation that was happening in parallel," Madan Sabnavis, Chief Economist, Bank of Baroda, told IANS. "Therefore, there is an explanation as to why inflation was high. But the central bank has been acting to bring it down through the instruments it has like repo and CRR (cash reserve ratio). It has succeeded in lowering surplus liquidity too which can be proved," Sabnavis added. "The RBI can say that inflation is due to supply side constraints a nd excess liquidity," says K. Ramasubramanian, retired General Manager, RBI, and a forex advisor. "In addition, there was a huge sale of forex almost Rs 3 lakh crore to maintain the exchange rate. Inflation which was more than the target continuously for three quarters is estimated to come around 6 per cent by three more quarters. Interest rates (repo rate) have been increased almost 1.9 per cent. As such the MPC may only be constrained to say that the present steps taken need some more time for having a positive impact to reduce inflation. This is subject to the time inconsistency impact," he added. The RBI has scheduled the November 3 meeting of MPC under Section 45ZN of the RBI Act. As per the said Section, when the RBI fails to meet the inflation target, it shall send a report to the central government listing: (a) the reasons for failure to achieve the inflation target; (b) remedial actions proposed to be taken by it; and (c) an estimate of the time-period within which the inflation target shall be achieved pursuant to timely implementation of proposed remedial actions. As per the RBI Act the MPC shall determine the Policy Rate required to achieve the inflation target. Further as per the RBI Act, the central bank shall organise at least four meetings of the MPC in a year. Announcing the credit policy RBI Governor Shaktikanta Das said: "There are also upside risks to food prices. Cereal price pressure is spreading from wheat to rice due to the likely lower kharif paddy production. "The lower sowing for kharif pulses could also cause some pressures. The delayed withdrawal of monsoon and intense rain spells in various regions have already started to impact vegetable prices, especially tomatoes. These risks to food inflation could have an adverse impact on inflation expectations." According to the RBI Governor, the Indian basket crude oil price was around $104 per barrel in H1:2022-23 and expected to be around $100 per barrel in H2: 2022-23. "Taking into account these factors, the inflation projection is retained at 6.7 per cent in 2022-23, with Q2 at 7.1 per cent; Q3 at 6.5 per cent; and Q4 at 5.8 per cent, with risks evenly balanced. CPI (consumer price index) inflation is projected to further reduce to 5.0 per cent in Q1:2023-24," Das said. However, one has to see the RBI's prediction as to crude oil prices ($100 per barrel) as the oil producing countries have announced a cut in their production and the international prices going up. Economists and common man have a different take on the RBI's expectations on inflation. "Presently inflation does appear unlikely that it will move downwards for two sets of factors. The increase in oil price and rupee depreciation has potential to increase imported inflation," Sabnavis had told IANS earlier. "Second, there have been some shortfalls in kharif production which will mean an increase in prices. Also the late withdrawal of rain has affected vegetable crops and also adversely affected the harvest of rice and oilseeds in some regions." The reduction in sown area for rice and pulses during Kharif season is expected to feed inflation in the coming months. The overall sown acreage for the Kharif season has declined by 0.8 per cent at the end of September 30, 2022 as compared to last year, the Bank of Baroda said in a recent report. "The inflation rate will be 6.5-7 per cent in FY23 and 5.5-6 per cent in FY24," Sabnavis had remarked. The RBI Governor had said the communication with the central government is a privileged one and it will not made public by the Bank. Das also said there no legal stipulation on the frequency of the communication between RBI and the government. He had earlier said the inflation rate is expected to come down to four per cent in two years time. There are many uncertainties. The RBI has pegged the inflation rate at 6.7 per cent for FY23. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/apple-surges-to-add-178-billion-in-market-value-as-4th-quarter-earnings-help-drive-a-turnaround-in-the-stock-market/articleshow/95153518.cms">Apple surges to add $178 billion in market value as 4th-quarter earnings help drive a turnaround in the stock market</a> <a href="https://www.businessinsider.in/stock-market/news/the-fed-will-hike-rates-too-far-and-tip-the-global-economy-into-a-recession-survey-of-economists-says/articleshow/95151308.cms">The Fed will hike rates too far and tip the global economy into a recession, survey of economists says</a> <a href="https://www.businessinsider.in/thelife/news/see-inside-an-almost-1-million-prefab-tiny-home-village-near-seattle-trying-to-solve-the-ongoing-homelessness-crisis/slidelist/95153993.cms">See inside an almost $1 million prefab tiny home village near Seattle trying to solve the ongoing homelessness crisis</a>

RBI can argue its case on inflation control say experts

The country will add 1.25 lakh kilometers of roads under phase III of PM Gram Sadak Yojana spending ₹ 80,250 crore. While presenting budget allocation for the ministry of roads and highways, the Finance minister mentioned the projects undertaken in the last four years. She said, “ The <keyword id="2844663" type="PERSON" weightage="20" keywordseo="Bharatmala">Bharatmala</keyword>, Sagarmala and Udaan projects have worked towards reducing rural and urban divide.” She also called for One Nation, One Card for connectivity. Sitharaman also pushed for public private in metros to develop metros across the country and aid completion of sanctioned projects. The metro rail project has also been a milestone setter as 300 km of new projects were approved, while 210 km stretch operationalised. The total length of metro rails have now reached 657 km. Comprehensive restructuring of <keyword id="6373156" type="UNKNOWN" weightage="20" keywordseo="National-highways">national highways</keyword> programme under the 2nd phase of the Bharatmala project is also set to be operationalised. <table style="border-width: initial; border-style: none; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">YEAR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">BUDGET ALLOCATION </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">2018-19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;"> ₹ 78625.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">2019 (interim) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;"> ₹ 80016 crore </td></tr></tbody></table> In the Interim Budget, the government had increased the budget for the Ministry of Road Transport and Highways by 5.58%. Highways sector is one of the best performing areas. The government expenditure in the area went up from ₹ 34,345 crore in 2014-15 to ₹ 78,625 crore in 2018-19. India’s road transport network is amongst the longest in the world, with over 5.5 million kms. The network aids the movement of almost 64.5% of all goods in the country and 90% of its passenger traffic. The ministry has big plans coming up in the next few years. By 2022, the ministry has plans to construct 200,000 km of national highways in the country. For financial year 2019 itself, the ministry has set target to award 15,000 km projects and construction of 10.000 km of national highways. A total of about 295 major projects for bridges and roads are also expected to be completed during the same period. The ministry’s Bharatmala project is its latest high end endeavour, which aims at improving connectivity in border and other areas. The project is set to cost ₹ 5.5 trillion for the development of about 50,000 km of road networks.

You Searched For "India s 2nd longest elevated highway" and got 13 results

India will soon be in a position to export Lithium-ion batteries: Nitin Gadkari

ANI

Loan-to-deposit ratio will subside on its own in coming months, notes Motilal Oswal report

Ira Alok Puranik

Be It Intracity Or Inter-city, These 5 Expressways Make Travelling A Breeze

Sanghamitra Mandal

Unveiling the marvels: 10 engineering triumphs in India's tunnel landscape

Ayush

Shagun

Teenager-focused payments startup FamPay raises $38 million led by Elevation Capital and Sequoia Capital

PTI

India's longest road tunnel to see the light of day

BI India Bureau

Open Roads Return: 6 Super Expressways In West & North-west India

Sanghamitra Mandal

8 Super Expressways In North India That Fulfil Your Need For Speed

Sanghamitra Mandal

Time To Celebrate The Snow: Check Out These 7 Ski Destinations In India

Sanghamitra Mandal

RBI's 2nd booster shot to economy: Key interest rates slashed to lowest levels since 2000

PTI

India could emerge as the third pole despite GDP growth worries say experts

IANS

RBI can argue its case on inflation control say experts

IANS

Union budget 2019: Will lay 1.25000 kms of rural roads says Finance Minister Nirmala Sitharaman

BI India Bureau

Popular Keywords

Buying Guides