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Deepa Jainani

Articles By Deepa Jainani

356 Articles

UP govt hikes sugarcane state advised price by Rs 25 to Rs 350 per quintal

It may be mentioned that the sugarcane SAP in Uttar Pradesh, along with some other states such as Uttarakhand, Haryana and Punjab, is usually higher than the Centre’s FRP.

According to industry insiders, there was a lot of pressure on the state government to increase the SAP for the 2021-22 season, mainly, because there had been no increase for three years and also because the Centre had increased the FRP for cane for this season and farmers in the state were looking forward to a similar hike at the state level.

Sugar mills upset as oil marketing companies bar UP investors from new ethanol tender

The DFPD has already approved additional ethanol capacity of around 8,207 KL in Uttar Pradesh, which will entail an investment of Rs 7,071 crore.

UP is the largest ethanol manufacturer in the country, and there are many distilleries coming up in the state.

Power ministry proposes bringing distribution network under state transmission utilities

If the state governments are not in a position to do so, the STU can form a joint venture with Powergrid on a 50:50 equity basis. Powergrid has already been advised by the power ministry to form joint ventures with STUs where

It has advised state governments to form joint venture companies with Powergrid if they are unable to provide financial assistance to STUs to upgrade and modernise the system.

Indian Sugar Mills Association urges PM Modi to immediately hike sugar MSP

Besides, there has been a 10-15% increase in the cost of inputs, raw material, salary and wages, and maintenance costs, making it difficult for sugar mills to clear sugarcane payments.

In a letter to the principal secretary to the prime minister, ISMA president Niraj Shirgaokar said the MSP for sugar was last revised in February 2019, after which the fair and remunerative price (FRP) of sugarcane has been increased twice, amounting to a total increase of Rs 15 per quintal of sugarcane.

NTPC snaps 275 MW power from UP due to non-payment of dues

The action is a follow-up on NTPC’s warning to Uttar Pradesh Power Corporation (UPPCL) on August 12 that it would regulate the supply of 5,512 MW power from its generating stations from August 20 as it had not cleared outst

NTPC

UPPCL awaits another loan of Rs 4,900 crore from PFC-REC

NTPC recently served a notice to UPPCL saying that it would to cut the supply of 5,512 MW power to the latter from its generating stations from Friday as the corporation has not cleared dues which are outstanding for more tha

In its action plan for FY21 to FY24, UPPCL has promised to achieve key operational parameters, such as bringing down the AT&C losses to below 15% by 2024 and improving collection efficiencies.

Uttar Pradesh amends key labour law, abolishes imprisonment

The amendment was approved at a cabinet meeting chaired by Chief Minister Yogi Adityanath.

Moreover, they should make sure the pension andhealth insurance schemes are well-designed; the ESIC, for instance, could be vastly improved.

YIAPL achieves Rs 3,725-cr financial close for Noida International Airport

YIAPL has raised Rs 3,725 crore in debt from SBI to be repaid over a period of 20 years, with a one-year moratorium after completion of the project. This is one of the largest financing amounts for any greenfield airport in I

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UP’s own tax and non-tax revenue up 18.5% in July

The state's collections of Rs 2,089 crore through stamp duty showed an imprssive increase of 53% over last July's Rs 1,366 crore, yet it could still manage to achieve only 76.1% of the month's target of collecting Rs 2,747 cr

Noida Jewar Airport: Decks cleared, land for phase I handed over to concessionaire

“While 65% of the investment, which works out to be Rs 372 crore would be funded through debt, 35%, that is Rs 2,000 crore would be through equity. For the debt part, we are in the final stages of securing the loan through

Speaking to FE, Christoph Schnellmann, Chief Executive Officer, YIAPL said that the financial closure of the project is round the corner and he expects it to be completed within the next two weeks.

UP achieves 9.89% ethanol blending, highest in the country

As of July 12, the average blending level across the country stood at 7.93%. In June, Prime Minister Narendra Modi announced that the target of 20% ethanol-blended petrol had been advanced by five years to 2025. This means et

“By mixing ethanol in petrol, Uttar Pradesh has been able to contribute to a saving of 75.58 million dollars of India’s forex reserve, giving a big boost to the economy in these testing times,” the spokesperson said.

Meerut-Prayagraj Ganga Expressway: Yogi govt to seek Rs 4,480 crore loan

The process of purchasing land for the Ganga Expressway, which is to be built from Meerut to Prayagraj, is going on in full swing.

Speaking to FE, an official of the state government said the loan amount would be made available in lieu of securitisation. With the additional availability of financial resources, the purchase of land and other work will be accelerated. (Representative image)

Adani, GMR among 7 in fray for Lucknow railway station makeover plan

The last date for submission of applications was 24th June 2021. After the bidders are shortlisted, RLDA will float an RFP (Request for Proposal) for the selected bidders.

The station will be redeveloped on a Design-Build-Operate-Finance-Transfer (DBFOT) model in two phases at a total cost of Rs 556.8 crore.

UP’s own tax revenue up 92% y-o-y in Q1

However, the state’s OTRs in Q1FY22 was 67% of the quarter’s target of Rs 44,827 crore as economic activities suffered in April-May from the second wave of Covid-19 surge.

India’s particularly disastrous Covid-19 second wave-exposed the weakness of the public healthcare system.

Purvanchal Expressway: Eastern UP poised for infra upgrade

With 95% of work complete on the 341-km project, India's longest expressway, connecting Lucknow to Ghazipur, is expected to be flagged off in August

Though Covid-19 and the resultant exodus of labour saw the pace of construction getting impacted slightly, the project has still managed to adhere to the original schedule.

A first in UP: 150-acre textile park to come up in Noida

UP government is planning to develop more such integrated textile parks in major textile producing areas of the state, such as Meerut, Agra, Jhansi, Gorakhpur, Varanasi, Lucknow and Kanpur divisions.

16 new distilleries worth Rs 1,250.44 crore to come up in UP this year

Companies that are investing in the distillery business include DCM Shriram, Balrampur Chini, Dhampur Sugar, Dalmia Bharat and Rana group.

13 companies express interest in setting up data centres in Noida with Rs 22,000-crore investment

In a report titled ‘2020 India Data Centre Market Update’, JLL has said NCR-Delhi is expected to emerge as a new data centre hotspot as demand from government departments and IT/ITeS are expected to drive further growth.

Apart from these, the state government has also received intents of investment from companies like Sify Technologies, CTRLS Data Centres, Web Works, RBDC Pte, Singapore, Brookfield Asset Management, Canada, Mantra Data Centres, Spain.

UP breaks previous wheat procurement record; 53.80 lakh MT wheat purchased so far

UP’s previous record wheat purchase was 52.92 lakh MT in 2018-19. Last year, around 31.03 lakh MT wheat was procured from the farmers in the same period (till June 14, 2020), while total procurement stood at 35.76 lakh MT.

Punjab, Bihar, Gujarat, Telangana, Jharkhand, Kerala, Madhya Pradesh, Odisha, Tamil Nadu, Uttarakhand and Uttar Pradesh have surpassed their previous records in paddy sales to government.

Uttar Pradesh’s revenue increases 42% YoY in May

According to the finance department data accessed by FE, the state mopped up Rs 8,272.55 crore as tax and non-tax revenue in May 2021, an increase of 42% from Rs 5,820 crore collected a year ago. However, this is just 52.7% o

The transport department’s collection of Rs 314.62 crore, though showing a threefold rise over May 2020’s collection of Rs 99.86 crore, is just 39.6% of the month’s target.

Solar body seeks Centre’s intervention in UP’s mishandling of tender

Seeking the minister’s intervention in directing the Uttar Pradesh government to retract the letter sent by UPNEDA to developers intimating them that the bids have turned infructuous, the letter seeks his office to direct t

The company is now in process of reducing the time to seven seconds, Mierlo said.

Solar auction: UP does an AP, denies bidder rights

Developers to move tribunal against state renewable agency's move, appeal to PM

In November 2020, a tariff of Rs 2/unit was discovered in Seci's solar auctions for Rajasthan.

UP’s sugar production touches 110 lakh tonne, cane dues mount to Rs 12,000 crore

Of the 120 sugar mills in operation, 110 have shut shop while the remaining 10 are likely to close by the end of the month or in early June.

The three UP sugar corporation mills have paid 49% of their dues and still owe Rs 197 crore.

Secured solar bids allowed to lapse in UP as tariffs found to be ‘significantly higher’

Talking to FE, NSEFI CEO Subrahmanyam Pulipaka said that the regulatory framework and stability in policy, or the way the decision process is streamlined when it comes to renewable energy or power in general, is completely di

Talking to FE, an official of the energy department said, on condition of anonymity that the bid has since expired.

UP discoms’ dues to state-run gencos reach staggering Rs 17,000 cr

Though the Centre’s liquidity infusion scheme under the Atmanirbhar Bharat package helped these discoms to bring down their dues to central public sector units (CPSUs) and independent power producers (IPPS) down from Rs 27,

Reserves for frequency support are of three types – primary, secondary and tertiary.
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