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Surya Sarathi Ray

Articles By Surya Sarathi Ray

868 Articles

Budget 2021: In a big boost, road transport and highways ministry receives its highest allocation ever in Union Budget

Union Budget 2021: The FY22 capital allocation for MoRTH at `1,08,230 crore is the highest-ever for the ministry — in FY21, this stood at `81,975 crore, and in FY20, at `68,373 crore (actual).

The total estimated cost of the Delhi-Mumbai expressway project is about Rs 87,453 crore, including land acquisition cost of about Rs 20,589 crore.

JSL to finalise plan to nearly double capacity at Jajpur plant

“Currently, the Jajpur plant has 1.1 mtpa capacity. We will start working on the expansion sometime this year to increase the capacity to two mtpa in three years,” JSL’s managing director Abhyuday Jindal said.

At present, demand for stainless steel is “very good”, Jindal said, adding that the future also holds bright for the segment.

Mines ministry proposes policy changes to spur iron ore production

In case, the lessee fails to maintain the minimum dispatch criteria for three consecutive quarters, “the state government may terminate such lease after giving a reasonable opportunity of being heard.”

Still, several successful bidders of those working mines failed to start production even after the lapse of 7-8 months of auction and execution of mining leases in their favour.

NHAI’s fifth TOT bundle: At least six firms submit bids

Under the fifth round of TOT, NHAI is offering a 20-year lease period for two bundles with a total length of 159.5 km. The last date for submission of the bids for both the bundles was January 18.

While the technical bids were opened on Tuesday, the financial bods of the technically-qualified bidders will be opened in a fortnight, a source in the authority said.

NHAI sets ambitious project awards target for Q4

A senior NHAI official said total highway project awards in the current fiscal could be in the range of 4,800-5,200 km, higher than the 4,500-km orignal target the authority had set for itself for the current fiscal.

“For the project, DMEL’s role will be limited to housing the debt and servicing thereof.

WFH norms may apply to manufacturing sector too

“Let the comments come,” labour secretary Apurva Chandra said when asked whether the government will pay heed to suggestions that some activity under the manufacturing sector should also be given flexibility to work from

Along with labour expert KR Shyam Sundar, he also, however, said that individual organisation should have the discretion of allowing the WFH facility to its employees.

Centre wants states to review labour laws for harmony with new central codes

Sources said the union labour ministry has decided to appoint legal advisors soon, mandating them to examine whether the state laws are in sync with the central codes. If the harmony is found to be lacking, then states will b

Deep mining: Over 500 non-coal mineral blocks up for grabs

Sources said the Cabinet also gave the go-ahead for reallocation of several non-producing blocks of the state-run companies, a move that could also enthuse the private players as many of these blocks have abundant proven reso

The cabinet has also approved introduction of an index-based mechanism by developing a National Mineral Index (NMI) for various statutory payments and others for future auctions.

NHAI to set up performance threshold for highway bidders

Anything less than the cut-off mark, which is yet to be decided, on these parameters will mean the bidding process to be out of bounds for the aspiring investor.

Sources said suitable amendments in the bidding documents will be incorporated to make a rating of the concessionaires as one of the qualification criteria for awarding new projects.

‘India’s structural steel consumption poised for big growth’

With 10 plants producing around 2.5 million tonnes per annum, APL Apollo Tube is the largest producer of structural steel tubes in the country.

New work from home rules in 2021? Govt readies proposal to formalise WFH facility for services sector

For the manufacturing sector, the standing order governing work conditions was applicable in organisations having 100 or more workers until last year.

However, regulatory parameters for WFH have not been prescribed.

Soma Mondal to take over the reins of SAIL as its first woman chairperson

The saving grace for the new chairperson, currently the company’s director-commercial, however, is the sharp rise in steel prices and its possibility of holding at the elevated level on the back of higher demand and iron or

A section of SAIL’s employees’ union has already conveyed their displeasure over the issue to Mondal, but assured full support to the new chairperson in her endeavour to take the company to a greater height.

Facing flak from different quarters, steel manufacturers defend price hikes in letter to PMO

Gadkari has been vocal against the steel firms for raising prices by 55% in the last six months. The minister had also written to the Prime Minister Narendra Modi seeking his intervention to arrest the trend.

Budget 2021-22, Union Budget 2021

NHAI’s debt to cross Rs 3 lakh crore by March, touch Rs 3.7 lakh crore by FY22-end

On the construction front, the authority’s target for the current fiscal is 4,500 km compared with a record of 3,979 km construction in the last fiscal.

So far in the current fiscal, NHAI has raised Rs 33,500 crore debt of which Rs 5,000 crore has been raised as long-term loan from the State Bank of India, Rs 1,500 crore through 54 EC bonds and Rs 27,000 crore through taxable bonds.

Delhi-Mumbai expressway: NHAI arm to raise Rs 46,000-crore debt in 2-3 years

This fiscal, we (the SPV) need to borrow a little less than Rs 10,000 crore, but we already have got offers for Rs 29,000 crore from banks and financial institutions. It shows the success of the SPV model. We will see who off

The National Highways Authority of India (NHAI) invested Rs 90,000 crore or 84% of its FY21 target in April-January.

Steel prices hiked for the second time in a week

A second hike during the month, on the back of buoyant domestic demand, was largely anticipated since the domestic HRC prices, even after the first hike in December, were at a 6% discount to import parity prices from China. A

Scant cover: Hospitals in a mess, ESIC blames state governments

In 2018-19, ESIC spent Rs 8,721 crore on extending medical benefits, Rs 1,171 crore on cash benefit payments and Rs 1,156 crore was administrative expenses.

Surplus in FY19 was at Rs 16,227crore, with incomes of Rs 27,313 crore and expenditure at Rs 11,085 crore.

Steel prices may rise again this month

Icra’s Jayanta Roy said that HRC prices have strengthened in the international market by nearly 18% in the last two months leading to a significant rise in the Indian steel prices.

Domestic miners mainly take cue from the NMDC for effecting any revision in the price of the key steel-making raw material.

Steel makers hike hot-rolled coil prices by 6%

Even after the price hike, domestic steel would be cheaper by around 4-5% compared with the landed cost of imports from Korea, a country with which India has free trade agreement (FTA) pact, providing domestic firms scope to

steel sector

Rural jobs scheme: Demand for work falls in November

The big jump shows the high efficacy of the popular scheme to avert a rural distress in the pandemic period that saw tens of thousands of migrant workers returning to their rural homes from cities.

Four months to go in the current financial year, but generation of person (work) days under Mahatma Gandhi-National Rural Employment Guarantee Scheme (MG-NREGS) has reached within the striking distance of surpassing the highest tally in any year of 267.96 crore recorded in 2018-19.

Steelmakers mull another price hike in December, watching ore market

NMDC’s chairman-cum-managing director Sumit Deb declined to comment on the probability of an increase in ore prices in December.

steel sector Budget 2021 Expectations, Budget 2021 Expectations for steel sector

‘User industry is unnecessarily exaggerating iron ore shortage’

JSPL’s managing director VR Sharma clarifies in a conversation with Surya Sarathi Ray.

MGNREGS: High demand for work reflects economic slump

The demand for work under the rural employment scheme (MGNREGS) jumped in May as the lockdown was eased, peaked in June, but continued to remain at elevated levels through October, according to official data

More women in the workplace, shows EPFO data

Moreover, in contrast with earlier months, when new women subscribers to the EPFO were typically from the 22-25 years age bracket, in September more than one lakh or 38% of the new women subscribers were over 35 years of age.

To be sure, not all new subscribers joining in the EPF scheme can be considered to be new jobs since there could be some element of formalisation of the economy with several having held jobs in the informal sector.

Arcelor Mittal-Nippon Steel lays out large expansion plan, seeks support

The company is primarily evaluating the option of a large green-field facility in eastern India, but may also opt for further expansion through the inorganic route.

India's current installed capacity is around 140 mtpa. The country aspires to have 300 mt installed capacity by 2030-31. India's per capital steel consumption is still around a third of the global average.

Labour welfare: Appointment letter, free health check-up must for factory, construction workers over 45 yrs of age

While Code itself caps the work time in a week at 48 hours, the draft rules have stated that, “The period of work of a worker shall be so arranged that inclusive of his intervals for rest, shall not spread over for more tha

The code on wages that universalises minimum wages was passed was passed last year and the draft rules under the code has also been notified.

Highway construction to get on fast track! HAM projects get new lease of life

With the govt addressing concerns pertaining to its execution, the model is expected to draw road developers once again

As part of the new rules, the first tranche of upfront payment will be released after 5% of progress in construction work and the second one after 10% progress.
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