20.2.16

Bright Spot in a Gloomy World


GAP in Mumbai


Of potential Pay Hikes....


Of Smart Cities in Maharashtra....

Mumbai and Navi Mumbai will self-finance their Smart City projects.The Mumbai Metropolitan Region Development Authority (MMRDA), along with the City Industrial Development Corporation (Cidco), will cough up Rs.300 crore each to fund the first year of the Smart City projects in six other metros in the state, sources said. The Centre has earmarked Rs.48,000 crore for the development of 100 smart cities. Under the scheme, each metro will get Rs.100 crore annually for five years to put in place infrastructure to make it a smart city. The state government and local civic body have to contribute Rs.50 crore each, every year, to the scheme.
In the first list of 10 smart city projects announced last month, Pune and Solapur made the cut. They were among eight metros shortlisted by the state government. The other metros are Mumbai, Navi Mumbai, Thane, KalyanDombivli, Nashik, Amravati, Nagpur and Aurangabad.
While Pune and Solapur will get Rs.100 crore each for the first year from the Centre, Mumbai and Navi Mumbai are viewed as financially capable of taking care of their expenditure. The Shiv Sena, which controls the Brihanmum bai Municipal Corporation along with the BJP, had opposed the Smart City project, fearing that the civic body would lose its autonomy.
The NCP, in power in Navi Mumbai and Pune, had passed a resolution last December opposing the project. The MNS had opposed it for Nashik.
Chief minister Devendra Fadnavis is, however, keen to kick start all the 10 projects in the state and will not wait for central funding.

Jat quota stir turns violent


The Army was called out in eight districts of Haryana on Friday as the ongoing agitation for job reservation for Jats under the OBC category turned violent, leaving one person dead and 15 others injured. Jat leaders rejected chief minister Manohar Lal Khattar's assurance after an all-party meeting that the government would introduce a legislation for quota for the community in the coming assembly session. Haryana DGP Y P Singhal said the army would patrol the streets of Rohtak, Jhajjar, Sonipat, Panipat, Bhiwani, Jind, Hisar and Kaithal. Indefinite curfew has been imposed and shoot-at-sight orders issued in Rohtak and Bhiwani. More army personnel are being sent to Rohtak, the epicentre of the protests, where violent mobs vandalized and set afire houses owned by family of finance minister Captain Abhimanyu Singh, himself a Jat. Internet services on mobile phones have been blocked in areas affected by the Jat agitation, including Rohtak and Hisar. Despite state government accepting all the demands of Jats, mobs refused to relent, taking control of key highways and railway tracks connecting Haryana with Delhi.
Khattar's announcement about a legislation for Jat quota in the coming assembly session did not impress Jat leaders who insisted they would continue the agitation until an emergency session of the assembly was called and the new law was passed.

19.2.16

Net Foreign Fund Flows


Fuel prices tweaked

Petrol price has been reduced by 32 paise a litre, while that of diesel increased by 28 paise a litre.
PSUs oil cos review fuel prices on the 15th and the last day of every month to align local prices with international rates and adjust for foreign exchanges. But this time, the price review was delayed by two days. IOC, the nation's largest fuel retailer, did not offer any reason for the delay. The movement of prices in the international oil market and the exchange rate will continue to be monitored closely and developing trends of the market will be reflected in future price changes, the company said.