India @ the G20

The world’s 20 most influential finance ministers are set to ask Europe to undertake “ambitious reforms”, commit to adequately capitalize banks and take onboard India’s concerns on toning up the tax information sharing mechanism to prevent evaders from stashing wealth in foreign banks. “For the first time, the communique has addressed issues related to the importance of a comprehensive tax information exchange and encourage authorities to continue their work in the global forum to assess and better define the means to improve it,” said economic affairs secretary R Gopalan. India, which already signed Tax Information Exchange Agreements with 16 countries, has found it very cumbersome to get data related to the period before the treaty comes into existence. But several countries are refusing to share data citing legal differences between tax evasion, tax frauds and avoidance which are seen to be frustrating efforts to book evaders despite the G20 pushing for it. Facing pressure on cracking down on black money, over the last two days, finance minister Pranab Mukherjee has repeatedly raised the issue although he has not so far succeeded in getting a commitment from foreign countries to assist in recovery of wealth parked overseas. While Gopalan did not elaborate on the issue of adequate capitalization of banks, the communique will force the government to ensure that it provides equity to public sector lenders that account for nearly three quarters of the Indian banking industry. After providing nearly Rs 15,000 crore to state-controlled lenders in the aftermath of the 2008 financial crisis, the government has tightened its purse strings citing fiscal constraints. State Bank of India which has been seeking to raise Rs 20,000 crore through a rights issue has been waiting in the wings for over two years as the government, which holds a 59% stake, has been unwilling to provide its share of Rs 12,000 crore. Following opposition from the United States, the G20 has also deferred an immediate decision on the $350 billion for the International Monetary Fund, although the communique is going to talk of enhanced support to the World Bank. So far, however, there is no agreement on a mandatory financial transaction tax, something similar to the securities transaction tax, that India is opposing on the grounds that it will put further pressure on local financial institutions. The G20 finance ministers and central bank governors, who have been huddled in meetings since Saturday morning, will issue a communique late on Saturday night that will lay the roadmap for a meeting of EU leaders in Brussels. The general expectation is that even after the Brussels meeting of the European Council on October 23, the final word would be said in November when the G20 leaders meet at Cannes. While focus will be on the eurozone crisis, the fear is that there is a possible danger of a contagion that needs to be prevented immediately.

Kalam vouches for N-power

Strongly defending the country’s nuclear power policy in the backdrop of the ongoing anti-nuclear plant agitations in Kudankulam and surrounding areas, former President and known atomic scientist A P J Abdul Kalam on Saturday said he would visit all nuclear reactors across the coastal belt for discussions on safety aspects with scientists. Talking to mediapersons at Nandankarai, Kalam said he would begin the visit soon and personally hold discussions with scientists about safety concerns. “It will take at least 10 days to visit all the existing plants and gather information. The findings would be shared with the media and a report would be submitted to the government,” he said. Refusing to go into the merits of the ongoing protests at Kudankulam in Tirunelveli district, Kalam reiterated that nuclear power was a clean energy source and the nation could achieve energy independence by tapping it.

Bangalore Metro snippets

The government has given inprinciple clearance for the extension of Metro rail from Byappanahalli to Whitefield. This phase 2 of the project will be 18-km long and will have 17 stations. Bangalore Metro Rail Corporation (BMRC) managing director N Sivasailam on Saturday said the state government has approved the detailed project report (DPR) and BMRC will now submit the DPR to the government for final approval in the next two weeks. There is more good news. The BMRC will have a trunk line of 24km from IIM-B on Bannerghatta Road and Nagawara in North Bangalore, of which 15 km will be underground. A high-powered panel approved an additional branch line in Reach 4 to connect RV Road via BTM Layout, Central Silk Board and Electronic City which will culminate at Bommasandra. The Metro train will run up to 10pm. “As of now, it will run only upto 10 pm. Depending on people’s patronage, we can extend till 11pm. We are open to it,” Sivasailam said. The BMRC has readied a 3D commemorative card as a collectors’ edition for the launch day — October 20. The card will be available at all stations. The BMRC has printed 10,000 such cards and to be priced at Rs 1,000 until stocks last. The BMRC will now build a Metro rail to the Bangalore International Airport. The High Speed Rail Link (HSRL) that was proposed by the government was scheduled to run from Cubbon road to BIA. It has been scrapped.

Namma Metro is nearly here

On October 20, when South India’s first Metro chugs in, the journey will be one that has used a wide range of the latest technologies used by metro rail systems worldwide. “The Bangalore Metro, in terms of technology, is comparable to any metro rail system in the world — in Europe, USA or China — and is even ahead of some of them,” BMRCL MD N Sivasailam said. He said Bangalore Metro runs on the ballastless track system used by 70% of the world’s metros. In layman’s language, this means the track does not require stones used on traditional broad gauge track systems to build the track and run the train, as the load is lower than that of a conventional train. The tracks are laid on a concrete slab after assessing the engineering factors. Stones on the conventional track help in balanced construction, while in metro systems concrete slabs are enough,” he said.The advantages of ballastless (stoneless) track systems are faster travel, longer lifecycle of the track, ride comfort, and no maintenance. Even at speeds of over 300km/h, your coffee will stay in your cup.
STANDARD GAUGE The Bangalore Metro is standard gauge, a system used by most metros worldwide. Narrower than the broad gauge, it allows for greater manoeuvrability, easy ride along curves, laying of tracks even on narrow stretches and control. The standard gauge has a track width of 4ft, 8.5inches, or 1,435mm, while the Indian broad gauge is 5ft, 6inches, or 1,676mm.
ROLLING STOCK The rolling stock (coaches/cars) are three stainless steel-bodied wagons. Though equipped with automated functions, the train will be under the driver’s control. The seating capacity per train is approximately 1,000, giving more floor area to standing passengers. The coaches are world-class, manufactured by Hyundai Rotem Korea and Mitsubishi Electric Company. BEML has the licence to manufacture coaches in Bangalore. While Mitsubishi supplied traction for the coaches, Hyundai Rotem supplied the rolling stock and BEML the coaches.
POWER IN THIRD RAIL Electricity for the train will run on a third rail next to the main track. It has an opening at the bottom at points from where the train draws its power. The third rail is covered with a yellow shroud, and a person falling on the track won’t be electrocuted. ABB will design, supply, install and commission four substations to receive and distribute electricity at 66/33 kV, as well as auxiliary and traction substations. ABB will provide an integrated network management, or SCADA (Supervisory Control And Data Acquisition) system to monitor and control installations.
TECH AIDS FOR PASSENGERS Cameras will be installed inside the train as well as stations, and people’s movements will be monitored by an operations control centre at Byappanahalli. In case of any help or emergency, the control room will be able to see what went wrong. Trains will be Wi-Fi enabled, so passengers can use laptops, tablets as well as mobile internet. Passengers will have emergency voice communication with train staff through a speaker system. Passengers can press a call button to communicate anything urgent to the driver or control centre. Help will be at hand at the next station. The integrated control centre will have direct communication with trains and stations which will be CCTV-fitted with visual and audio service information. Bangalore Metro also has automatic train supervision, protection and operation systems — if there’s a train on the same track ahead, the approaching train will sense it and come to a halt at a safe distance. BMRCL officials said the only aspect that could have been automated but was not, was the opening and closing of doors. “We felt the driver needs to be alert. If everything is automated, the driver need not be in the train. So we’ve manually given the driver the option to open and close doors,” they said. Ticketing, too, is completely automated with just a swipe of the ticket, token or card at a particular point near the entry and exit, enabling the gates to open and close.
HIGH ON TECH Recharge of metro cards through mobiles and SMS, a first in the world

Somewhere in Thimpu....

Congress leader Rahul Gandhi joins in as Bhutan’s King Jigme Khesar Namgyal Wangchuck takes part in a traditional dance to celebrate his wedding with India-educated Jetsun Pema in Thimphu on Saturday

J&K reaps a bonanza

India has rediscovered its romance for Kashmir with an unprecedented 10.73 lakh tourists visiting the Valley till September 30. This is believed to be the highest number of tourist arrivals in the last 25 years, strong evidence of what’s possible if normalcy is given a chance. Kashmir has surpassed last year’s tourist arrivals of 7.38 lakh, and the data collected by the state tourism department shows both Indians and foreigners have given the Valley a thumbs up despite apprehensions over security. Foreign tourists visiting Kashmir has jumped from a few thousands to about 22,000. Beneficiary of the bonhomie is not just Kashmir, but Ladakh and Amarnath as well. Visitors keen on taking in Ladakh’s stunning vistas and adventure opportunities doubled to 1.48 lakh this year. The number of Amarnath yatris is at a high of 6.35 lakh — a jump of 2 lakh from last year. The director of tourism in Kashmir, Farooq A Shah, said, “This is the highest number of tourist arrivals recorded in the last 25 years. It has been a very gA peaceful season has meant a booming economy for locals after the stone pelting unrest in the Valley and the tragic cloudburst in Leh last year. The state government is advocating against travel advisories issued by some countries, pointing to the vote of confidence tourists have delivered. The Union tourism ministry had in recent years launched an advertisement campaign, with J&K as a special focus. State officials and political representatives have also made their presence felt in the international market through trade fairs and other initiatives. Good season for us. But Kashmir’s potential is unparalleled and we hope to do more work.”

Yeddy jailed

Former Karnataka chief minister B S Yeddyurappa was arrested on Saturday on charges of illegally garnering prize real estate for himself and his family, an embarrassment that could seriously dent BJP’s anti-corruption crusade and leave the party’s only southern government wobbly. The BJP strongman who built the party into a formidable force in Karnataka and formed its first government in the south found himself to be undertrial No. 10462 in Bangalore’s Parappana Agrahara Central Jail after a judge remanded him to judicial custody for a week. Such has been the dramatic fall from grace for Yeddyurappa. While he weathered the dissidence, he was undone by his family which contracted a large number of questionable business deals that involved Yeddyurappa denotifying large tracts of expensive land in Bangalore in favour of his sons and son-in-law’s associates in the two-and-a-half years he was in power. The arrest comes two-and-a-half months after Yeddyurappa was forced to resign as chief minister by the BJP high command following strictures against him in Lokayukta Justice Santosh Hegde’s mining report.