Vehicle scrapping policy unveiled

Prime Minister Narendra Modi launched the national automobile scrappage policy. He said the move will promote a circular economy and make the process of economic development more sustainable and environment-friendly.

The policy, aimed at recycling polluting and unfit vehicles, will give a fresh impetus to India's mobility and auto sector, Modi said while addressing the virtual launch of the initiative during 'Investors Summit' organized in Gandhinagar.

“We are promoting a circular economy. Apart from reducing pollution, this policy will also make India self-reliant in automobile and metal sectors. We imported scrap steel worth Rs 23,000 crore last year because recovery of metals in our country is not enough. With this policy, we can now recover even rare earth metals in a scientific manner," said Modi. The policy would attract an investment of Rs 10,000 crore and create thousands of employment opportunities, the PM added.

Data shared by the Union transport ministry revealed that an estimated 1 crore unfit vehicles which can be recycled immediately in India. Of these, 4 lakh are in Gujarat. The summit, attended by potential investors and industry players, was organized to attract investment to set up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernization Programme.

The policy will give a new identity to India in the mobility and auto sector, Modi said. “It will play a major role in removing unfit vehicles from our roads in a scientific manner. It will modernize vehicular population on city roads,” he added. The policy will play a key role in the ‘Waste to Wealth’ programme, Modi said.

CM Vijay Rupani and Union Road Transport and Highways Minister Nitin Gadkari were present at the event in Gandhinagar. Gadkari said the policy is based on fitness and not age of the vehicles. It will boost manufacturing, create jobs and help both Centre and state to earn up to Rs 40,000 crore each in GST, he added.

"If we recycle on a continuous basis, we can recover 99% of the materials. As per an estimate, this will lead to a reduction of 40% in the raw material cost, reducing prices and pushing sales," said the minister. As per an estimate, states as well as Centre's GST income would increase by Rs 30,000 to Rs 40,000 crore each once the sale of vehicles picks up, he added.

Sources said the timeline of the policy stipulates final rules of the policy be notified by September 25, 2021. By April1, 2023, mandatory automated fitness testing for heavy commercial vehicles should become effective. From June 1, 2024, phased introduction of mandatory automated fitness testing for all other remaining categories of vehicles should begin.

State government officials said it could take a few months for players to set up scrappage infrastructure, after which it will issue specific guidelines on scrapping of vehicles.

India’s attempt to have its eye in the sky falters

Indian space programme suffered a serious setback on Thursday as its GSLV-F10 rocket failed midway in its mission of putting into orbit the Geo-Imaging Satellite-1.

Along with the rocket, the 2,268 kg GISAT-1/ EOS-03 communication satellite carried by the rocket was also lost. It was to provide a real-time image of a large area of a region of interest at frequent interval and also enable quick monitoring of natural disasters, episodic events, and any short-term events. The satellite had payload imaging sensors of six band multi-spectral visible and near infra-red with 42 metres resolution, 158 bands hyper-spectral visible and near infrared with 318 metres resolution, and 256 bands hyper-spectral short wave infra-red with 191 metres resolution.

A four-metre diameter Ogive shaped payload fairing (heat shield) made with composite was used in the rocket for the first time, ISRO said.

Announcing the mission failure, ISRO chairman K Sivan, said, "The mission cannot be fully accomplished because of a technical anomaly observed in the cryogenic stage."

The 57.10-metre tall, 416-tonne Geosynchronous Satellite Launch Vehicle (GSLV-F10) lifted off from the second launch pad at 5.43 am.

A strong deep growl rose into the sky breaking free from the second launch pad here at the Satish Dhawan Space Centre.

The GSLV-F10 is a three-stage/engine rocket. The core of the first stage is fired with solid fuel and the four strap-on motors by liquid fuel. The second is the liquid fuel, and the third is the cryogenic engine.

The rocket laden with GISAT-1 furiously rushed towards the skies with thick orange flame at its rear.

Everything went off well as planned till the cryogenic engine got fired at about five minutes into the rocket's flight. At about six minutes into the flight, and soon after the cryogenic engine started operation, the mission control centre at the space port here tensed up as there was no data coming from the rocket. The rocket was seen deviating from its plotted path on the screen.

One of the ISRO officials announced that there was a performance anomaly in the cryogenic engine.

Then, the officials realised the mission had failed, and Sivan made the announcement.

For ISRO, this is the second space mission in 2021 after the successful launch of Brazilian satellite Amazonia-1 by its rocket Polar Satellite Launch Vehicle earlier this year.

GISAT-1: a jinxed satellite

Originally, the GISAT-1/EOS-03 was slated for launch on March 5, 2020, but hours before the launch, ISRO announced the postponement of the mission owing to some technical glitch.

Soon after, the COVID-19 pandemic and the lockdown delayed the mission. The rocket had to be dismantled and cleaned up. The satellite also underwent a name change from GISAT-1 to EOS-03.

Subsequently, the GISAT-1/EOS-03 launch was slated for March 2021 but due to problems in the satellite's battery side, the flight got delayed again.

With the replacement of the battery, the satellite and the rocket were being readied for their flight at Sriharikota when the second wave of COVID-19 swept in, affecting many at the rocket launch centre.

The rocket earned the nickname ‘naughty boy’’ after some failed missions earlier and owing to its unpredictable performance. Later it started performing well.

Including Thursday's rocket a total of 18 GSLV's (Mk I, II and III) have been flown of which twelve were successful, six failures (four a total failure and two partial).

The 12 successful launches were in 2003, 2004, 2007, 2014, 2015, 2017, 2018A and 2019, when the rocket launched GSAT-2, Edusat/GSAT-3 an educational satellite, INSAT-4CR, GSAT-14, GSAT-6, GSAT-9, GSAT-6A, GSAT-7A, GSAT-19, GSAT-29, Chandrayaan-2 and one experimental flight (GSLV-MkIII) in 2014.

The GSLV's rocket's maiden flight in 2001 (Mark I) was a partial failure as it was not able to sling GSAT-1 into the intended orbit. The satellite could not be raised to the intended orbit later.

It was sort of a historic flight for a dubious reason in 2006. For the first time, ISRO destroyed the rocket mid-air soon after the lift-off as it started backing up.

However, the 2007 flight gave anxious moments to ISRO officials. Fifteen seconds before the lift-off, the rocket's computers put GSLV on hold, detecting anomalies in the cryogenic fuel stage. 

July Inflation at 3-month Low

Lower food inflation and the base effect contributed to the decline in consumer inflation. Food inflation fell to 3.96% in July from 5.15% in June.

On a month-on-month basis, the consumer price index rose 0.74% while the overall consumer price index was up 0.74%, highlighting the base effect. Clothing and footwear inflation stood at 6.46% compared with 6.2% in June. Housing inflation was 3.86% in July compared with 3.75% in June.

“Apart from base effects, food inflation moderated on lower perishables and pulses, helped also by administrative changes, i.e, import duty cuts,” said Radhika Rao, economist, DBS Group Research.

At 100GW, India is now No. 4 in solar and wind energy capacity

India’s renewable energy capacity, excluding large hydroelectric projects, hit 100 GW (gigawatts) on Thursday, making it the world’s fourth largest in terms of total installed green energy capacity. The milestone is commendable for the world’s third-largest polluter as it has been achieved in a short span of five years of Prime Minister Narendra Modi announcing in 2015 his plan to build 175 GW renewable energy capacity by 2022.

But going by the pace of capacity addition this year, achieving that target within the stipulated timeframe will be a herculean task. However, a government statement said “India aims to touch 450 GW capacity by 2030, staying resolute in its commitment to sustainable development goals”.

Be that as it may, the milestone will help New Delhi resist pressure to declare a net zero goal and call out the developed economies on their pitiful effort to reduce carbon emission. “Another landmark day in the history of the Indian power sector… Under the visionary leadership of PM @narendramodi ji, we shall continue to be global leaders in energy transition,” power and renewable energy minister Raj Kumar Singh tweeted.

“We would like to acknowledge the pivotal role played by the government in helping the sector reach this goal. Favourable policies and an enabling environment have helped Indian renewable energy companies grow exponentially,” ReNew Power CEO Sumant Sinha said. The 100 GW renewable capacity accounts for 26% of India’s total installed generation capacity of 383 GW.

If large hydroelectric projects are included, the total renewable capacity works out to 146 GW, or 38% of the total installed capacity.

Retro Tax Abolition to Boost Industry’s Trust

Prime Minister Narendra Modi said abolition of the retrospective taxation provision on indirect transfers will strengthen trust between the government and industry. He asserted that reforms were a “matter of conviction” and not compulsion for his government.

The economy has picked up pace again and the bills recently passed by parliament will give further impetus to reforms, he said at the annual session of the Confederation of Indian Industry held virtually on Wednesday.

He said the government is ready to take big risks in the interest of the nation. He urged industry to similarly enhance its risk-taking appetite, assuring it of all support.

The PM said India has 60 unicorns as opposed to about three-four seven-eight years ago and 21 of these emerged in the last few months. There’s been a record response to Indian startups from investors, he said.

“Record FDI (foreign direct investment) is also coming into India today and new records are being made in FPI (foreign portfolio investment) too,” he said.

He said the people support products made in India, urging industry to frame its policy and strategy accordingly.

“We undid a mistake of the past by removing retrospective tax. It will increase trust between the government and the industry,” Modi said at the event, adding that it will boost investor confidence.

The government last week scrapped the retrospective application of the controversial 2012 provision to tax indirect transfers of Indian assets. It offered to refund taxes paid if companies with pending litigation withdrew claims.

The legislation moved by finance minister Nirmala Sitharaman has been approved by parliament.

“Tax policies used to induce despondency among the investors, but the same India can boast of the world’s most competitive corporate tax and faceless tax system,” PM Modi said. “Red-tapism of the past has been replaced by a significant rise in the ease of doing business.”

The Prime Minister said the government was ready to take risks in the national interest.

“We have taken bold decisions. Reforms continued even during pandemic. The government is doing reforms not out of compulsion but out of conviction,” Modi said, while referring to initiatives taken during the parliamentary session, including the Factoring Regulation Amendment Bill and the Deposit Insurance and Credit Guarantee Corporation Amendment Bill.

Previous governments could not muster the courage to take political risks, he said, while citing the example of GST that has led to record collections.

“Red-tapism of the past has been replaced by a significant rise in the ease of doing business index. As a result, India is getting record foreign direct investment and foreign portfolio investments,” he said, adding that forex reserves were also at an all -time high level.

Highlighting the rationalisation of labour laws and agricultural reforms, PM Modi said the recent reforms undertaken to promote ease of doing business were brought to fruition with industry support.

“India, which was apprehensive of foreign investment at one point of time, is welcoming investments of all types today. Similarly, India can now boast of the world’s most competitive corporate tax and faceless tax system,” he said.

Rajasthan, Maha Himachal, Mizoram Offer Best Quality of Life for the Elderly

Quality of life for elderly people is the best in Rajasthan, Maharashtra, Bihar, Tamil Nadu and Madhya Pradesh among India’s ‘aged’ states, shows the Quality of Life for Elderly Index released on Wednesday by the Economic Advisory Council to the Prime Minister. Himachal Pradesh, Mizoram and Chandigarh lead the rankings in the categories of ‘relatively-aged’ states, north-eastern states and union territories, respectively. The index ranks states on financial wellbeing, social wellbeing, health system and income security for the elderly people. States with an elderly population of over 5 million come under the ‘aged’ group, while those under that are categorised ‘relatively aged’. As per Census 2011, the elderly are people aged 60 years and above. According to the index, the health system for the elderly across states has been the most robust among the parameters with a national average of 66.97, followed by social wellbeing at 62.34.

Delhi: Revival of Mughal lake to start by Sept-end

The process of setting up a sewage treatment plant and rejuvenation of a four-acre lake in Roshanara Garden is likely to start by September end. Delhi Jal Board has finalised the tender and is in the process of allocating the project to a concessionaire.

North Delhi Municipal Corporation has agreed to provide 500 square metres space and given the NOC for carrying out the work. The 57-acre park is maintained by the civic body, but due to lack of a water channel it has become dry.

“For constructing the STP and laying pipelines till the lake, all damage done will be repaired by DJB at its own cost. As the lake is a natural waterbody, there is a high likelihood of migratory birds coming there. So, the quality of water after treatment should be such that no harm is caused to the birds and plants. The 6-7 million litres per day capacity of the STP will be sufficient for filling the pond and irrigating the parks within Roshanara Bagh,” the horticulture department of the corporation mentioned in its letter to DJB.

A senior DJB official said they were doing the technical evaluation of the bids and would soon open the financial bids. “We are expecting to initiate the work by September. As far as treatment of waste water is concerned, we have shared the required output quality parameter based on NGT’s guidelines using the best technology (either hybrid or physicochemical). The concessionaire will be responsible for operation and maintenance of the plant for 15 years. The cost will be around Rs.11 crore,” added the official.

Unlike previous projects, the net value of this one would be calculated on the basis of cost of land, technology used, power consumption and O&M value of the plant. “We are considering these factors before finalising the bidder. The same method will be exercised in other upcoming projects for rejuvenating lakes,” said the official.

Earlier, the lake was fed by rainwater and channels from Najafgarh drain. “However, because of the change in slope surfaces in the surrounding areas and increased concretisation, it was lying in a dried-up state for the last one decade, except from 2012-14 when a railway underbridge was constructed nearby and the water pumped out from the site was diverted here,” said a senior corporation official. The rejuvenation of the lake would be done by filling it with treated waste water from drains and sewers.

Situated in Shakti Nagar, Roshanara Bagh is a Mughal-style garden built by the second daughter of Mughal emperor Shah Jahan. The lake inside the lush garden was once a hotspot visited by migratory birds during winters.