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Deepa Jainani

Articles By Deepa Jainani

320 Articles

As UP waits for Atmanirbhar package, power dues swell to over Rs 26k cr

When contacted, an official of the Union power ministry confirmed the receipt of UP action plan for second tranche and said that the ministry will soon be calling the UPPCL team for a presentation before Union power minister

According to senior officials of UPPCL, this amount does not include the Rs 15,000 crore dues of state PSUs, which are not covered in the package.

Uttar Pradesh likely to see 20% fall in sugar production

“Mills in Uttar Pradesh have already started closing in some districts because of no cane. As of now 4 mills have already closed down and some more are expected to close by the end of the month,” said a sugar miller.

Of the total 20 lakh tonne sugar that is expected to be diverted into ethanol in the country, almost 6.76 lakh tonne will be from Uttar Pradesh, followed by 6.54 lakh tonne in Maharashtra and 5.41 lakh tonne in Karnataka.

Increase ethanol blending to 15%, ISMA urges food ministry

He urged the ministry to advise the Bureau of Indian Standards (BIS) to immediately fix the standards for 12% and 15% blending.

Another miller said, “OMCs will take time to enhance their tankage capacity. In the meantime, if the government asks OMCs to immediately increase the blending percentage to 13%, it would straightaway mean an increase of 30% demand in ethanol. It will take care of all our worries.”

Oil marketing companies fail on ethanol lifting commitments, blending programme targets likely to fall short

According to sugar industry sources, due to the encouragement and incentives provided by the government, the sugar mills and distilleries have achieved a record allocation of 310 crore litres of ethanol to be supplied to OMCs

“To achieve 10% blending target at pan India level, there is a need to ensure that enough tankage capacity is available with the OMCs,” he says and adds that priority of allocation of inter-state supplies should also be rationalized by OMCs.

No change in sugarcane prices this season in Uttar Pradesh

This is the third straight year when the state government has decided not to hike the price of cane. The SAP was last increased by Rs 10 per quintal in 2017, soon after the Yogi Adityanath government came to power.

Elections in the state are scheduled to be held by March 2021, when the crushing would be in progress.

UP targets 250% increase in exports in 4 years: Siddharth Nath Singh

The identified sectors are electronics and electrical equipment, apparel, machine and equipment, processed food items and organic chemicals.

The shortlisted priority products currently contribute to around 63% of the exports from UP and account for around 5% of India’s exports.

UP sugar season half-way down, 31 sugar mills yet to open accounts

120 sugar mills in the state have piled up arrears worth Rs 7,879 crore, as on February 2.

According to data accessed by FE, while the state’s average payment is 46%, as many as 31 sugar mills have not even started the payment process this season.

IKEA is coming to Noida! Ingka Group to soon start work on Rs 4,000-crore mall-cum-store

According to officials of the Uttar Pradesh government, this will be a mixed-use project, consisting of an IKEA store as anchor, and a mall that will house retail and commercial stores, a hotel, movie theatres and other enter

The company had signed a deal for the store-cum-commercial complex in 2018 itself but the project had got stuck due to procedural delays.

Meerut to Prayagraj Ganga expressway: Private sector interest a leg-up for PPP

Ganga Expressway: The keenness shown by 11 firms including 2 global players has reinforced UP’s move to build the Rs 36,000-crore expressway with private participation

It is the financial impact of the pandemic that made the state government opt for the public private partnership (PPP) route for the Ganga Expressway project, which would run across 12 districts and 529 villages of the state.

Uttar Pradesh: December tax revenue up by 25 percent, state collects Rs 2522 crore more

For the fifth month in a row, Uttar Pradesh’s tax revenue collection has increased by an impressive 25%, with the state having collected Rs 2,522 crore more in December 2020 than December 2019.

Budget 2021-22, Union Budget 2021

UP farmer groups market produces via new models; FPCs tap inter-state route to gain access to newer markets

Even as protests rage over the farm bills that seek to change the way agri-marketing can be done, the department of agriculture in Uttar Pradesh has facilitated cultivators and Farmer Producer Companies (FPCs) in the state to

‘Herculean task’: Deloitte set to prepare Uttar Pradesh government’s $1-trillion strategy

A high-powered committee under the chief secretary has recommended Deloitte Touche Tohmatsu India for the job and the state cabinet is likely to put its stamp of approval on it soon.

Given that the gross state domestic product (GSDP) in FY20 was about Rs 17.95 lakh crore, achieving the target will require raising it by over 4 times in five years.

Do not increase SAP, UP sugar mills urge CM Yogi Adityanath

UPSMA seeks `15/quintal subsidy to compensate for expected increase in production cost

Producing ethanol will not only help stabilise price due to diversion of sugar, but also ease fair and remunerative price (FRP) payments to farmers, he said.

UP cuts mandi tax by 1%; farmers, traders to get relief

According to officials of the agriculture department, the move would encourage farmers and traders to trade within the mandis.

UP’s tax receipts in October up 21% year on year

Revenue collection from stamp and registration fees was Rs 1,806 crore as against last year’s Rs 1,368 crore. This was 97% of the month’s target of Rs 1,860 crore.

According to the finance department’s revenue data for October, state excise duty collections grew to Rs 2,403 crore this year from Rs 1,861 crore in the same period last year, an increase of nearly 30%.

Global firms, IIM-A submit bids for making UP $1-trillion economy by 2025

Bidders include Boston Consulting, Grand Thorton, Nangia and Co, Deloitte Touche Tohmatsu India and IIM-Ahmedabad.

Consumer indiscipline: Liquidity package fails to stem UP discoms’ dues to gencos

Also, in order to help the cash-strapped discoms, the power ministry has reduced late payment surcharges, a move could potentially provide a relief of about Rs 6,000 crore annually to them.

The over-dues — payment default of 45-60 days or more — of all state-run discoms in the country to power plants is seen to increased 52% annually to Rs 1.2 lakh crore at August end.

Four sugar companies account for nearly 45% of UP’s cane arrears

Modi Sugar, which has two sugar mills, has dues of Rs 467 crore and has made 40% payments, Yadu group with Rs 98 crore pending has 2 units and paid only 26% of its total cane dues.

Talking to Financial Express, a mill owner requesting anonymity said a majority of the mills have cleared more than 80% of their dues and that they are waiting for the state government to clear their long-standing cogen dues and the subsidy amount from the central government to clear the remaining dues.

Sugar sector bats for favourable cane juice to ethanol policy in UP

Taking advantage of Central government’s assistance for setting up ethanol distilleries, some more captive distilleries are in various stages of commissioning, which would further increase the ethanol supply from the state.

A positive policy encouragement would go a long way in reducing excessive sugar production and its resultant difficulties.

Jewar airport in Noida: Swiss developer to begin work on Rs 30,000-cr by early next year

The airport, estimated to cost about Rs 30,000 crore, will cater to 70 million passengers annually after the completion of all the four stages of the project.

The airport will be developed on a public-private partnership model and is scheduled to open in 2024.

UPRERA recommends 2 percent relaxation in stamp duty

UPRERA chairman Rajiv Kumar said that the move is aimed at helping the realty sector recover from the crisis brought on by the pandemic and generate revenue for the state government.

According to officials of the department of stamps and registration, the recommendation, if accepted, will be a boon for the department, which has been lagging in revenue collection. (Representative image)

Zurich International to sign deal on Oct 7 to build Jewar airport

According to an official in the civil aviation department, the agreement will be signed by the CEO of Zurich Airport International and the CEO of Noida International Airport Limited (NIAL), Arun Vir Singh.

Uttar Pradesh’s Rs 4,800-crore solar project gets Central government’s nod

MNRE has asked the Bundelkhand Saur Urja, the solar power park developer (SPPD), to submit the detailed project report at the earliest.

renewable energy, green energy sector, investment in renewables, foreign investors

Nearly 26 lakh unmetered connections sap UPPCL’s energy

The extent of the problem can be understood by the fact that, of the UPPCL’s total consumer base of 281 lakh, about 25.93 lakh (9.23%) connections are unmetered.

Shockingly, Purvanchal Vidyut Vitaran Nigam (PuVVNL), the Varanasi discom that is soon going to be put out for bidding, accounts for 49.24% (1,27,6747) of these unmetered connections.

Centre sends bid doc, UPPCL expedites discom privatisation

Talking to FE on condition of anonymity, an official said that work on preparing the tender document is on and bidding is likely to start by mid-October.

In separate letters to directors of UPPCL – commercial, distribution and finance – the UPPCL MD has asked them to provide information of commercial, technical and financial parameters of the six zones of the discom.

UP discoms’ losses mount as Saubhagya consumers don’t pay bills

Similarly, in urban areas, PVVNL managed better than others with a turn-up of 78.80%, followed by DVVNL (73.10%), MVVNL (71.54%). Here, too, PuVVNL ended up last with 78.80% turn-up.

UP discoms’ losses in FY19 were to the tune of Rs 6,000 crore.

Uttar Pradesh to generate 12,734 MW power by 2022

While the state currently generates 5,474 MW, the upcoming power stations will add another 7,260 MW by 2022. Of this, 1,320 MW power generated will be commissioned by the end of this year.

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