Punj Lloyd has bagged EPC contract worth Rs 232 crore from Public Health Engineering Department of the Government of Bihar for turnkey implementation of 850 solar- water treatment plants. The solar- water treatment plants will resolve the serve groundwater contamination, resulting in many types of diseases including skin and lung cancer.
FICCI calls for reduction in luxury and service taxes on tourism
In order to enhance the country’s inbound tourism sector, industry body FICCI (Federation of Indian Chambers of Commerce and Industry) has suggested a slew of measures. Foreign tourist arrival in 2009 was down by 3.3% to 5.11 million against 5.28 million in 2008 on the back of the Mumbai terror attack in November 2008 which caused a 15% decline in the number of inbound tourists.
It has suggested for a reduction in luxury
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365 MN Indians Reach Employment age by 2025
By 2025E, 365 mn people would have reached employment age. We anticipate 11 mn people will look for employment every year. India has historically created employment to the tune of 6.5-7 mn per year, implying India can face significant challenges in employment creation should growth derail even slightly. India will be young for long, relative to most countries.
Educated yes, employable no – Despite India’s investment in education beginning to pay off, we worry about educated
NMDC – 34% increase in iron ore prices
NMDC has intimated customers of 34-56% increase in iron ore prices across various grades effective April 1st, with iron ore fines prices increased by 34% to Rs2600/MT. Prices for iron ore fines were earlier increased by 16% in Jan 10. As per our calculations, the effective price increase for iron ore fines from Dec-09 is Rs927/MT, 55%.
NMDC talked about a potential re-working of its annual contracts, possibly in favor of quarterly contracts. However there is no news flow on the same so far. The above 34% price increase is ‘provisional’ as per the media report, with a final price increase likely to be communicated later (but would be effective from April 1.
Based on $200/MT coking coal and the latest NMDC iron ore prices, the total cost push for a non integrated steel mill, dependent
Short-term Power tariffs Rise sharply in March
As per the data from Indian Energy Exchange, the short-term tariffs have increased 78% M-o-M to Rs5.77/unit in March 2010. The average merchant tariffs are at their highest level after almost six months (in August 2009, the average tariffs were Rs7.2/unit followed by a six months lull with prevailing average merchant tariff of ~Rs3.5/unit during September’09 – February’10).
The average tariffs in March’09 were more than Rs8/unit and hence, on a y-o-y basis; the March’10 average tariffs are 29% lower.
India Manufacturing PMI and India Manufacturing PMI and trade
The most attention-grabbing aspect of the March PMI release was the surge in input prices to a new series high of 67.4, suggesting that companies are facing sizeable and mounting cost pressures. The survey also indicates that manufacturers are becoming more willing to pass on some of these increases in the form of higher output prices (54.6 from 52.1).
While the results were no doubt impacted by the one-off duty hikes announced in the budget, the RBI can’t afford to ignore the
Read moreIndia Manufacturing PMI and India Manufacturing PMI and trade