“Most people probably don’t know that in recent years, the track record of Indian Railways on safety has been remarkably good” writes by Shri Bibek Debroy

There were trains in India before 1853, even commercial. But officially, the birthday of the railways is 16 April 1853, with that passenger train from Bori Bunder to Thane, carrying 400 invited VIP passengers. Years ago, economic historians of the Marxist variety used to debate the relevance of the Asiatic mode of production for India. In that context, there is a familiar Karl Marx quote from “The Future Results of British Rule in India”.

“The railway-system will therefore become, in India, truly the forerunner of modern industry.” People will probably not readily recall when this essay was first published. Marx wrote it on 22 July 1853 and published it on 8 August 1853. Karl Marx must have known of the Bori Bunder to Thane train and reacted to the news. It is 166 years from 1853 to 2019. Most people probably don’t know that in recent years, the track record of Indian Railways (IR) on safety has been remarkably good.

This becomes evident if one normalises and divides absolute numbers by something like total passengers, or total kilometres travelled by trains. Irrespective of the indicator used, IR’s performance is superior to that of many so-called advanced countries. That record may be good, but 2019-20 was exceptional. For the first time in 166 years, there have been no deaths to passengers from consequential railway accidents. As a reaction, there has been skepticism and criticism.

What about those who die on Mumbai local trains? What about 20-year-old Dilshat Khan? In December 2019, near Kalyan station, he decided to perform a stunt on the footboard of a local train. He crashed into a pole and died. What about 19-year-old Abzad and 22-year-old Mohammed Matti? In September 2019, weren’t they killed near Bengaluru, trying to make a TikTok video on a railway track? Weren’t they run over by a train and killed? In Delhi, in July 2019, an Indian Army captain committed suicide by throwing himself in front of a train.

Incidentally, as Bollywood evolved, trains featured in Hindi films. If you think of old black-and-white Hindi films, and not recent ones, you will recall trains figured in films because they were convenient ways of committing suicide. They provided that setting and no more. The NCRB (National Crime Records Bureau) brings out a publication, “Accidental Deaths and Suicides in India”. We have this for 2018. The 2019 version will probably be available in December 2020. In 2018, according to NCRB, there were 24,545 deaths because of railway accidents—1,507 at railway crossings and the remainder primarily due to people falling off trains or being run over by them.

There were also a few instances (with relatively fewer deaths) of derailments/collisions in UP. There may not have been derailments/collisions in 2019-20. Unmanned level crossings may have become manned. But what about people falling off trains or being run over by them? One can understand skepticism about the 2019-20 numbers. But this is because one has failed to understand what the numbers signify. Since every statement issued by IR uses the expression “consequential railway accident”, there must be some meaning attached to the word “consequential”.

Other than the NCRB, the Commission of Rail Safety (CRS), under the Civil Aviation Ministry because of historical reasons, also provides numbers on such deaths. That too is for “consequential” and the latest numbers are for 2017-18. “Consequential” is defined in the following way. “For the purpose of Railway working, accident is an occurrence in the course of working of Railway which does or may affect the safety of the Railway, its engine, rolling stock, permanent way and works, fixed installations, passengers or servants or which affect the safety of others or which does or may cause delay to train or loss to the Railway.” These are railway-related and are included if they are above a certain threshold.

We think IR’s figures are about all accidents. No, they are only about consequential or serious accidents and it is those that have been eliminated in 2019-20. These are also incidents where IR has implied culpability and is responsible. To make it clearer still, CRS states, “Cases of trespassers run over and injured or killed through their own carelessness or of passengers injured or killed through their own carelessness” are excluded. IR then statistically classifies these accidents from A to R.

Take for example L2, “no tension in OHE (overhead equipment) for more than three minutes”. This may not fit with our usual perception of accidents, but the effect on IR can be disastrous. Alternatively, there are also F (averted collisions), G (breach of block rules), H (a train passing a signal at danger), J (equipment failures), K (failure of permanent way), L (failure of electrical equipment), M (failure of signaling and telecommunication), Q6 (blockade to train services due to agitation).

IR accident data are for a specific purpose and do not, and need not, reflect our passenger-based and citizen-based perceptions of death on the tracks. It isn’t the case that other types of deaths (Dilshat Khan, Abzad, Mohammed Matti, the Army captain) aren’t captured by the system. They are classified as trespassing and untoward incidents and fed into the system through the NCRB. As I said, we will know the 2019 numbers in December 2020. The railway crossing ones will certainly be fewer. Going by 2018, I think numbers for falling from a train and getting run over on a track will not be more than 20,000, perhaps lower. 

Source : https://www.newindianexpress.com/opinions/2020/sep/05/railways-accidents-and-death-on-the-tracks-2192701.html

Innovation on the Tap: Meet the winners in 9 categories of Govt’s Aatmanirbhar Bharat App Innovation Challenge. Say Yes to homegrown applications Mobile phone

The government has selected nearly 24 companies as winners in nine categories under a first-of-its-kind innovation challenge to promote homegrown applications.

These apps under ‘AatmaNirbhar Bharat App Innovation Challenge’ were shortlisted from about 7,000 entries by a jury comprising both government as well as industry representatives. Atal Innovation Mission, Niti Aayog actively collaborated and supported MyGov in conduct of the Challenge along with Meity Startup Hub and National e Governance Division, under Digital India Corporation of Ministry of Electronics and Information technology. The government is also planning a second phase of the contst, where it will provide significant handholding and mentorship to the applications, which will be in the areas of web browser, search etc.

IT minister Ravi Shankar Prasad has also launched a series of other grand contests in categories such as video conferencing and semiconductor chips over the last few months to build and nurture home grown technologies. The latest contest will support close to 300 startups in small towns and has an outlay of Rs 95 crore.

ET profiles the winners of the first contest . These are in categories such as business, eLearning, entertainment, games, health, news, office and Work from Home, Others and Social.

ENTERTAINMENT

  1. CaptionPlus
    The app shows users contextual captions and hashtags to images. It was founded by Rahul Maurya, Anurag Kumar and Jitendra Yadav in 2018. The startup wants to create a search engine of the most trending and catchy Instagram captions to complement photos of users. It has a team of writers who come up with “sassy” captions. Its AI-powered caption generator makes it easy for a person to find likeable captions. Users can upload the photo and get caption suggestions. It has been downloaded by more than one million social media users and influencers.
  2. Meme Chat: The app is a community for people who love watching and sharing memes. The platform also has a Meme social network, Meme Keyboard and Meme maker and free meme templates among other offerings.
  3. FTC Talent: It has created a platform which connects talent providers to talent seekers and helps artists find suitable roles in films, television, advertisements, theatre and live events.

NEWS

  1. Logically
    The app uses a team of fact-checkers alongside artificial intelligence (AI) and digital forensics to analyse media stories and conspiracy theories to help the public separate facts from falsehoods and misinformation. The startup’s technology can also track sources of disinformation. Lyric Jain, a Cambridge University engineering student originally from Mysuru, set up Logically in 2017. It is based in the UK and has employees in Bengaluru as well. The app has already been used successfully in the Indian general and regional elections last year, in which it detected thousands of pieces of misleading content. It is now looking to establish itself as a partner for governments, businesses and consumers around the world.
  2. IsEqualTo
    IsEqualTo is an education and news app for the family, especially targeted towards kids with its promise of safe content, which is constantly moderated.

GAMES

  1. Hitwicket Superstar
    Hitwicket Superstar is an immersive cricket application for Android and iOS users. The game, which was launched in the beta mode by Octathorpe Web Consultants Pvt Ltd in April 2019, has more than three million users from 109 countries now. Hitwicket aspires to build the first mobile e-sports IP from India. Nearly one-third of its users are from outside India. The Hyderabad-based startup plans to organise virtual IPL-like tournaments with global participants in 2023.
  2. ScarFall: The Royal Combat
    ScarFall is a multiplayer battle game that competes with PUBG. The game has good graphics and is also available for low-end mobile devices.
  3. World Cricket Championship 2:
    World Cricket Championship 2 or WCC2 is a cricket simulation game. Developed by Nextwave Multimedia, the game has intense 3D graphics and offers a near real gaming experience virtually.

OFFICE & WFH

  1. Zoho Workplace and Cliq
    Zoho Workplace is a suite of software applications that allow users to create an office setup on the Cloud. It was created as a bundled offering to provide an alternative to Google and Microsoft’s cloud office and productivity suites and is used for creating documents, spreadsheets, sending emails, among basic functions. The suite includes tools like Mail, Connect, Chat, Writer, Show, Sheet, Docs, and others.

Zoho’s Cliq was developed as an alternative to Slack and Microsoft Teams. It is a team messaging tool that integrates into various Zoho business applications. The tool helps in team communication and has remote work tools like remote check-in, group calling and role-based security, among other features.

  1. SureMDM
    SureMDM is a mobile-based device management software that helps manage mobile, PC and other devices. Developed by 42Gears, it is used by enterprises to protect and monitor devices that access company data.

HEALTH:

  1. StepSetGo:
    The two-year-old company was set up to make it easier for users to get fit by providing rewards and additional motivation. The app tracks how many steps users take, allowing them to earn SSG coins which can then be redeemed in their in-app marketplace. Set up by Shivjeet Ghatge, Abhay Pai and Misaal Turakhia, StepSetGo has over 5 million users who have taken over one trillion steps within the first year. Interestingly, the app found a mention in Prime Minister Narendra Modi’s latest Mann ki Baat address.
  2. iMumz:
    iMumz is a week-by-week pregnancy program specifically for women, providing holistic and personalised lifestyle and health advice. It has been conceptualised by a team comprising gynaecologists, meditation experts and IIT graduates.

RE-LEARNING:

  1. Disprz:
    Disprz provides skilling and learning solutions for enterprises, aimed at both office and blue-collar workers. The app tracks and recommends skills that apply to a person’s day-to-day requirements and also allows for building career advancing skills through customised modules. The Artificial Intelligence (AI) driven platform tracks ongoing employee skilling and identifies when they are ready for career advancement. Disprz works with over 180 companies across 66 countries and has trained over 6,50,00 employees already. The company was set up by Subbu Viswanathan and Kuljit Chadha in 2016.
  2. Kutuki Kids
    Kutuki is a pre-school learning app that teaches through videos, rhymes, games and activities. The company also creates picture books that highlight the cultural diversity of India.
  3. Hello English:
    Hello English claims to be Asia’s largest English learning app with a community of 50 million learners worldwide. It offers English speaking lessons for individuals and enterprises.

BUSINESS

  1. Zoho Invoice, Books and Expense
    Part of Zoho’s cloud suite of software applications, Zoho Invoice is an online invoicing software that helps companies make professional invoices, automatically send payment reminders, and receive payments faster online.

Zoho Books is a GST compliant, cloud-based accounting software that processes accounting transactions and manages accounts. The tool has features like raising sales orders and uploading expense receipts, among others.

Zoho Expense is a GST-compliant online expense reporting software, made primarily for Indian businesses to automate the expense report creation process. It automates the recording of expenses from receipts to avoid manual data entry.

  1. Mall91
    Mall91 is a community commerce app designed to cater to rural India’s online shopping needs. The app has features like group discount buying, live host demonstrations of products and social gaming.
  2. Gimbooks
    It is a platform that helps SMEs create and manage documents like GST-compliant invoices, waybills, quotations, purchase orders and delivery challans. It comes in handy while managing inventory and expenses.

SOCIAL

  1. Chingari
    Chingari, a made-in-India alternative to the popular Chinese short video app TikTok, has seen a massive spurt in users over the last two months after the government banned several Chinese apps over security concerns. The work on Chingari app started in November 2018 but it took the company almost two years to get the product right, its founders said. It is the only Indian app to have a creation tool. It also allows people to interact with new people and provides trending news, entertainment news, love quotes and more. Interestingly, the app found a stamp of approval from M&M group chairman Anand Mahindra who tweeted that he had started using the app.
  2. YourQuote: Created in 2016, it is currently used by over 4 million writers globally to create original content in over 14 languages. The app claims to host over 100 million original posts on the platform.
  3. Koo: A micro-blogging platform, it is designed to share news and opinion in local Indian languages and claims to have a strong knit local Indian community. Discussions are largely around reigning new headlines of the day with top experts on the subject.

OTHERS

  1. MapmyIndia Move:
    MapmyIndia offers digital map data, telematics, location-based software as a service (SaaS) and Geographic Information System (GIS) services. It offers a detailed house number level map search, compatibility with India’s own satellite imagery service from ISRO’s Bhuvan, real-time traffic and safety-based navigation. The company was founded in 1992 by Rakesh and Rashmi Verma and is headquartered in New Delhi. Rohan Verma is its CEO and Executive Director. MapmyIndia capitalised on the growing digital apps market and monetised its map offerings through consumer apps, navigation devices, licensing, map APIs, tracking, and analytics, etc. It has sold its solutions to industries such as automobile, e-commerce, banking, insurance and space tech.
  2. AskSarkar:
    The artificial intelligence tool helps users navigate through various government services and offerings like RuPay cards, Aadhaar, PAN etc. The app was launched by Bengaluru-based conversational artificial intelligence (AI) startup CoRover in October 2019.
  3. Myitreturn
    It is an authorized e-return intermediary registered with the Income-tax Department, which eases the process of filing income-tax returns for individuals. The platform has over 2 million users in India and abroad.

Source: https://economictimes.indiatimes.com/small-biz/sme-sector/innovation-on-the-tap-meet-the-winners-in-9-categories-of-govts-mobile-app-challenge/articleshow/77922970.cms

Railways Back on Track: Despite COVID-19, goods loading in August is 4% higher than the last corresponding period as Railways undertakes a series of steps to boost freight operations.

Despite Covid-19 pandemic, the goods loading in August is over 4 per cent higher than the last corresponding period as the Railways has undertaken a series of steps to boost freight operations.

The total freight loading up to 27 August was 81.33 million tonnes (MT) as against 77.97 MT for the same period last year, an increase of 4.3 per cent.

Since freight operations has a direct bearing on the economic situation, the public transporter has taken up the challenge on a mission mode with several key measures in tariff and mon-tariff fields.

Utilising the Covid-19 period as an opportunity, Indian Railways substantially increased the speed of freight trains as well.

In order to boost freight operations, Railways has offered a 5 per cent discount on loaded containers in addition to 25 per cent on empty containers from 3 August this year.

The transporter has also announced a discount for pond ash/moisturised ash in the open wagon — 40 per cent for power plants, and cement in this month.

Besides revising the classification of industrial salt for the chemical industry, stabling charges for private containers and automobile trains was waived off till 31 October 2020 for containers and automobiles from 3 August.

In a major step, all private sidings/good sheds/private freight terminals (PFT) opened up for parcel traffic for parcels from 18 August.

The other tariff rationalisation initiatives include withdrawal of Busy Season charge — 15 per cent for all sectors except coal, iron ore and containers from 1 October 2019.

Withdrawal of 5 per cent surcharge of two point/mini rakes for cement, iron and steel, foodgrains, fertilizers, from October 2019 was also offered to increase bulk loadings.

Railways has extended time-tabled parcel express till December end for parcels from 19 June 2020.

Another important decision was to reduce the application fee for Greenfield PFT from Rs 10 Lakh to Rs 20,000 and completely waive off the conversion of siding to Brownfield PFT for all from 24 August.

In a new approach, the Railways has set up Business Development Units at all divisions, zones and Board level to closely monitor the situation and suggest ways to increase business.

While opening up export traffic to Bangladesh for parcels, containers and automobiles, Kisan Rail was introduced from Devlali in Nashik to Danapur in Patna in August with multiple stoppages and multiple commodities.

Link: https://swarajyamag.com/news-brief/freight-loading-up-by-over-4-per-cent-despite-pandemic

Addressed ASEAN-India Business Council virtual meet & highlighted importance of Cooperation, Collaboration & Commitment among the council members. India extends a hand of friendship to ASEAN countries through businesses for driving mutual success.

Ministry of Commerce & Industry

Cooperation, Collaboration and Commitment will guide the strategic partnership between India and ASEAN countries, says Shri Piyush Goyal

India demonstrated itself as the trusted partner to the world, particularly in times of stress: Shri Goyal

Posted On: 27 AUG 2020 4:33PM by PIB Delhi

Commerce and Industry Minister Shri Piyush Goyal today said that 3Cs- Cooperation, Collaboration and Commitment, will guide the strategic partnership between India and ASEAN countries. Addressing the ASEAN-India Business Council virtual meet, Shri Goyal said the Covid-19 pandemic period provided a unique opportunity to India to demonstrate itself as the trusted partner to the world, particularly in times of stress. Shri Goyal extended a hand of friendship to the ASEAN region, which he described as deep and valuable partners, and partners in the progress.

The Minister said that Aatamnirbhar Bharat connotes a self-reliant country which is ready to engage with the world from the position of strength and confidence, and on equal and fair terms.  He said that India and ASEAN have not been able to harness the full trade potential, for various reasons, but now is the time to open matrix to expand trade, address concerns of all nations and businesses, and resolve the differences. He extended India’s friendship and partnership to ASEAN through businesses, so that together both the partners are able to succeed, secure future, work together, attain prosperity, and achieve a target of $300 billion trade. Shri Goyal said that the business council meeting is a good forum to discuss concerns and best practices, share ideas, and flag the problems.

Shri Goyal said that during the early days of pandemic, India went out to the world for its requirements to fight Covid-19, but didn’t get much traction, as everyone was holding on for their own requirements. But, India, on the other hand, with the ability to provide medicines, acted as the Pharmacy for the world. We supplied medicines to over 150 countries of the world, to every part of the world, particularly to the less developed nations. Restrictions were imposed initially but that was with the noble intent of ensuring that the poor nations are not deprived of the medicines.  All this showed that India is a resilient country, a trusted partner and a friend indeed.

Shri Goyal said that the country developed adequate capacity to manufacture PPE, masks, and ramped up our testing capabilities from under 1000 per day to about a million a day. “We have been self-sufficient under the leadership of the Prime Minister Shri Narendra Modi. During the period, Indians developed commitment and consciousness to maintain social distancing, to adequately take care of personal hygiene, wear a mask at all times and care for near ones.”, the Minister said. He said that India demonstrated its resilience, ability to overcome problems and our collective efforts ensured that we can protect lives and livelihoods. We enforced strictest lockdown to save lives, and then ensured quick unlockdown to bring take care of the livelihood issues, he added.

YB/AP
(Release ID: 1648949)
Source: https://pib.gov.in/PressReleasePage.aspx?PRID=1648949

Surplus land of Railways will be used to generate 20 GW of renewable energy. This is an important step in Indian Railways mission to have zero carbon emission across operations by 2030

Work on Dedicated Freight Corridors, including resolution of issues, is being taken up in Mission Mode. Progress is being closely monitored & all necessary steps are being taken to speed up the project

Railway minister Piyush Goyal has called for speeding up work on dedicated freight corridors (DFCs) and to make up for the loss of time due to Covid-19.

Goyal, who is also the minister for commerce and industry, on Monday reviewed the progress of the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL).

It is expected that the western corridor connecting Dadri in Uttar Pradesh to Jawaharlal Nehru Port (JNPT) in Mumbai and the eastern corridor starting from Sahnewal near Ludhiana (Punjab) to terminate at Dankuni in West Bengal will be completed by December 2021, the railway ministry said in a statement.

During the review meeting, it was decided that work of all contractors will be strictly monitored. Resolution of all issues, including coordination with the states, will be done on a “mission mode”, the statement said.

The eastern and western dedicated freight corridors (DFCs), which were estimated to be entirely operational by December 2022, have been setback by six months because of the outbreak of Covid-19, Railway Board chairman VK Yadav had said last week.

Source: https://economictimes.indiatimes.com/industry/transportation/railways/speed-up-freight-corridor-work-says-piyush-goyal/articleshow/77729882.cms

Covid-19 के चलते रेलवे ने उठाया फायदा। छत्तीसगढ़ में बिलासपुर – अनूपपुर सेक्शन पर पेंड्रा – निगौरा के बीच 26 किमी तक तीसरी रेल लाइन बिछाने का काम समय से पहले किया पूरा।

पेंड्रा-निगौरा के बीच 26 किमी तक तीसरी रेल लाइन का काम पूरा हो गया है। बिलासपुर से अनूपपुर सेक्शन में प्रस्तावित तीसरी लाइन का पहला सेक्शन है जहां यह महत्वपूर्ण कार्य पूरा हुआ है, वह भी समय से पहले। आरबीएनएल ने लॉकडाउन का फायदा उठाया और लाइन बिछाने का काम सात महीने पहले ही पूरा कर लिया।

बिलासपुर से लेकर अनूपपुर रेलवे स्टेशन तक तीसरी लाइन का काम प्रस्तावित है। बड़ा प्रोजेक्ट होने के कारण सेक्शन के अनुरूप काम को पूरा किया जा रहा है। पेंड्रारोड से निगौरा तक तीहरीकरण की जिम्मेदारी रेलवे के ही उपक्रम आरबीएनएल को सौंपी गई। दो साल पहले उन्होंने कार्य शुरू किया। शुरुआत में काम ने अच्छी गति पकड़ी। इसके बाद धीमा हो गया। इस बीच कोरोना वायरस ने सब कुछ अस्त- व्यस्त कर दिया। रेलवे में भी कुछ दिन काम बंद रहा। इस बीच लॉकडाउन में ट्रेनों का परिचालन नहीं होने से काम के लिए पर्याप्त समय मिला। यही वजह है कि समय से पहले तीहरीकरण का कार्य पूरा कर लिया गया। काम पूरा होने के बाद रेलवे बहुत जल्द इसका सेफ्टी कमिश्नर द्वारा निरीक्षण कराने का निर्णय लिया है। इसके लिए आवेदन भी भेजा गया है। निरीक्षण के लिए इसी माह सेफ्टी कमिश्नर आ सकते हैं।

ये होगा लाभ

पेंड्रारोड, गेवरारोड लाइन से जुड़ जाएगा। इससे फायदा यह होगा कि चांपा- बिलासपुर की ओर से कोल परिवहन अनूपपुर व कटनी की ओर होता है। अब सीधे होगा। बिलासपुर तक नहीं आना पड़ेगा। दूरी काम होने से शुल्क भी कम लगेगा।

समयबद्ध में सुधार आएगी।

बिलासपुर स्टेशन में ट्रैफिक का दबाव कम होगा।

गेवरारोड लाइन निर्माण के बाद कोरबा के लोगों के लिए सीधे दिल्ली के लिए ट्रेन चलाई जा सकती है। अभी कोरबा से बिलासपुर तक आना पड़ता है। इसके बाद दिल्ली आदि जगहों के लिए ट्रेन की सुविधा मिलती है।


50 किमी के लिए खर्च होंगे 400 करोड़

पेंड्रारोड से अनूपपुर तक तीसरी लाइन बिछाने का काम आरबीएनएल को सौंपी गई है। 50 किमी तक इस कार्य में 400 करोड़ रुपये खर्च होंगे। अनूपपुर से कटनी तक तीहरीकरण रेलवे का कंस्ट्रक्शन विभाग बिछाएगा। इसका ठेका आरबीएनएल को नहीं दिया गया है। 165 किमी सेक्शन में 1400 करोड़ रुपये खर्च किए जाएंगे।

पेंड्रारोड एवं निगौरा स्टेशन के बीच तीसरी लाइन का कार्य पूरा हो गया है। सीआरएस के निरीक्षण के बाद यह लाइन शुरू हो जाएगी।
– साकेत रंजन, सीपीआरओ, दपूमरे जोन बिलासपुर
Source: https://www.naidunia.com/chhattisgarh/bilaspur-bilaspur-news-take-advantage-of-lockdown-third-railway-line-laid-ahead-of-time-6016754

Take a High-speed train to Board a Airplane : Facilitating easy & comfortable transportation for air passengers & airport employees, Railway Station near Kempegowda International Airport in Bengaluru to be ready next month

In a move that is expected to benefit airport employees as well as air passengers, the railway halt station on the boundary of Kempegowda International Airport (KIA) will be ready at the end of August. This will enable South Western Railway (SWR) to give a stoppage for trains being operated on the Yelahanka-Bangarpet line.

For over a decade, citizens of Bengaluru have been demanding a mass transit network to the KIA. At present, a majority of air passengers rely on road transport, especially taxis and personal cars, to reach the airport, which is located more than 35 km from the CBD.

“Work on the halt station is nearing completion. Prior to the imposition of lockdown, three pairs of trains were running on that line. Once the train services resume, we will provide a stoppage at the halt station. BIAL promises to run a free shuttle service every 15 minutes from the station to the airport. They have already repaired the road leading to the halt station. The journey time from the station to the airport is around eight minutes,” said Ashok Kumar Verma, Divisional Railway Manager (Bengaluru).

BIAL is bearing the cost of the station, which is ₹3 crore. Various amenities for passengers, such as ticket counters and waiting lounge, are coming up.

In addition to air passengers, the trains are expected to help hundreds of employees working at the airport.

Prajwal Kumar, a rail enthusiast, said, “Hundreds of employees, who are based in Kolar, commute to the airport every day spending over ₹200 per day. Once the halt station becomes operational, they can reach there by spending ₹25 to ₹30.”

Under the suburban rail project, the Karnataka Rail Infrastructure Development enterprises (K-RIDE) had planned to build a rail network from KSR Bengaluru to Devenahalli (48 km) via Yeshwantpur and Yelahanka. The project is awaiting final nod from the Central government.

Meanwhile, the BMRCL is planning to extend the metro line from K.R. Puram to KIA via Nagawara and Hebbal. It has acquired properties on many stretches of the alignment. The BMRCL is waiting for approval from the Central government to begin work on the project.

Link: https://www.thehindu.com/news/cities/bangalore/take-a-train-to-board-a-plane/article32005531.ece

PM Narendra Modi ji’s transformational reforms have enabled India’s foreign exchange reserves cross the $500 billion mark for the first time Banknote with dollar sign Another sign of a strong and Aatma Nirbhar Bharat

India’s foreign exchange reserves crossed the half-a-trillion mark for the first time after it surged by a massive USD 8.22 billion in the week ended June 5, as per the latest data from the RBI.

The reserves rose to USD 501.70 billion in the reporting week helped by a whopping rise in foreign currency assets (FCA).

In the week ended June 5, FCA, which is a major component of the overall reserves, rose USD 8.42 billion to USD 463.63 billion.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

The gold reserves declined by USD 329 million to USD 32.352 billion in the reporting week, the Reserve Bank of India (RBI) data showed.

In the reporting week, the special drawing rights with the International Monetary Fund (IMF) were up by USD 10 million to USD 1.44 billion.

The country’s reserve position with the IMF also rose USD 120 million to USD 4.28 billion during the reporting week, the data showed.

Since September 20, 2019, when Finance Minister Nirmala Sitharaman announced a cut in corporate tax rates, the forex reserves have been rising week-on-week and shot up to $487.23 billion in the week ended March 6, 2020. A sharp decline in global crude oil prices subsequently were a blessing in disguise for India during this period.

Links:  https://indianexpress.com/article/business/economy/indias-forex-reserves-jump-8-22-billion-cross-half-a-trillion-mark-for-first-time-6455844/

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