This is the biggest challenge for the Indian Electrical Industry ecosystem

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Union Minister for Power, new and renewable energy, RK Singh said that the biggest challenge for the Indian Electric Industry ecosystem is to match the capacity with the increasing power demand while keeping the goal of sustainable energy in mind.

The minister speaking on Saturday at the 15th edition of ELECRAMA.

“The challenge for us has just begun, India is growing rapidly the power demand in the country has grown 10 percent in 2022 as compared to 2021. Hence to achieve the goal of 500 Giga Watts of power, which is more than 50 percent of consumption by 2030 we need to double the scale of transmission lines. If we don’t succeed the growth rate of the country will also come down,” said the Union Minister.

The largest stand-alone exhibition of the Indian Electrical and Allied Electronics Industry, ELECRAMA, organised by IEEMA, started today February 18 at the India Expo Mart in Greater Noida.

While addressing the event the Minister of Power said that India has already achieved the goal pledged in COP21 with renewable energy consumption.

“At COP21 in Paris, in 2015, we pledged that 40 percent of our energy will come from non-fossil fuels, which we achieved nine years in advance, in November 2021.”

He further added that more than 40 percent of India’s capacity is renewable and the emission intensity of the country has been reduced by 30 percent already.

India’s of capacity addition has been one of the fastest in the world. We have emerged as one of the most attractive investment destinations for renewables. Every major fund in the world has invested in India and more are coming. We have built a huge ecosystem for renewables, said Singh.

Singh further added that over 17,000 circuit kilometers of transmission lines were installed in India in the last nine years to strengthen the electricity distribution system.

The government announced a plan in December 2022 to construct a transmission system to evacuate 500 GW of non-fossil energy by 2030. The proposal offers investment opportunities worth around Rs 2.44 lakh crore to transmission service providers.

“The electronic industry sector has powered the growth of the country, we have powered the country by being a leader in investment,” said Singh.

Power sector has a major highlight in Union Budget of 2023 and that is the long-awaited renewable energy initiative in Ladakh. received an investment announcement of Rs 20,700 crore (including government funding of Rs 8,300 crore) for its inter-State transmission system.

The primary announcements for the sector included a larger allocation to the program related to the distribution sector and financial support for energy storage projects. The Finance Ministry has doubled the allocation to the Reform Linked Distribution Scheme to about Rs 12,071 crore which was in line with the Power Ministry proposal. 

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Cyclone death toll in New Zealand rises to 9 as recovery continues

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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New Zealand’s death toll from Cyclone Gabrielle rose to nine on Saturday as clean-up continued on the nation’s battered North Island and authorities worked to find missing people.

The cyclone hit New Zealand on Sunday on the uppermost region of the North Island, before tracking down the east coast, causing widespread devastation.

On Saturday, police said they were investigating a death in the hard-hit Hawke’s Bay region, on the North Island’s east coast, of a person “believed to have died in circumstances related to Cyclone Gabrielle”, taking the death toll to nine.

Clean-up from the cyclone, which cut off towns, washed away farms, bridges and livestock and inundated homes, stranding people on rooftops, continued along with efforts to locate residents still missing.

Prime Minister Chris Hipkins on Friday called Gabrielle the biggest natural disaster to hit New Zealand this century and warned that the death toll was likely to rise as crews made contact with hundreds of cut-off communities.

Just over 4,500 people as of Friday afternoon had been registered with the police as being out of touch with friends or family since the cyclone hit.

But police believe many do not have access to communication networks as thousands of properties remain without power.

Almost 2,000 people remained in evacuation centres in Hawke’s Bay, while potentially up to 1,000 people in the region remained beyond the reach of emergency services, the New Zealand Herald reported.

North of Hawke’s Bay, at Tairāwhiti Gisborne, the area’s Civil Defence group controller Ben Green said there was “still a long way to go before everyone has been located, had their needs met and everyone’s connected once again”.

“We have our work cut out for us, we’re focused on securing a reliable water supply, reaching isolated people and re-establishing phone and internet connections,” he said.

Two temporary morgues have been set up in the Hawke’s Bay region, which is largely rural but includes the towns of Napier, Hastings and Wairoa.

Also Read: Fire at Raghuvanshi mills in Mumbai’s Lower Parel, evacuation work is on

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Only Twitter Blue users will be able use SMS two-factor authentication starting March 20

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Earlier in February, Twitter said that it will allow only paid subscribers to use text messages as a two-factor authentication (2FA) method to secure their accounts.

After March 20, “only Twitter Blue subscribers will be able to use text messages as their two-factor authentication method,” the company tweeted.

Effective March 20, 2023, only Twitter Blue subscribers will be able to use text messages as their two-factor authentication method. Other accounts can use an authentication app or security key for 2FA. Learn more here:https://t.co/wnT9Vuwh5n

— Twitter Support (@TwitterSupport) February 18, 2023

The platform has also started prompting users to disable the service to “avoid losing access to Twitter”. Alternative methods such as using the authentication app and security methods would still be available for free.

Two-factor authentication, meant to make accounts more secure, requires an account holder to use a second authentication method in addition to a password. These methods require you to have physical possession of the authentication method and are a great way to ensure your account is secure, Twitter said.

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The company believes phone-number-based 2FA is being abused by “bad actors,” according to a blog post that the company’s tweet linked to. The enrollment for the service for non-Blue subscribers was also halted on February 15.

Twitter owner Elon Musk tweeted “Yup” in reply to a user tweet that the company was changing policy “because Telcos Used Bot Accounts to Pump 2FA SMS,” and that the company was losing $60 million a year “on scam SMS.”

The blue check mark, previously free for verified accounts of politicians, famous personalities, journalists and other public figures, is now open to anyone prepared to pay.

In January, Twitter said it would price Twitter Blue subscription for Android at $11 per month, the same as for iOS subscribers.

(With Reuters Inputs)

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sigma Lithium shares jump 21% on report Tesla considering buyout

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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US-listed shares of Sigma Lithium Corp rose 21 percent in extended trading on Friday after Bloomberg News reported that Tesla Inc was weighing a takeover of the Canada-based battery metals miner.

Tesla has been speaking with potential advisers about a bid, the report said, citing people with knowledge of the matter, and added that Sigma Lithium is one of the many mining options the electric-vehicle maker is exploring as it mulls its own refining.

Tesla and Sigma Lithium did not immediately respond to Reuters requests for comment.

Sigma is finishing the construction of a hard rock lithium mine in Brazil that it expects to open by April. The mine will produce spodumene concentrate, which can be used to make lithium hydroxide, a type of metal preferred by some automakers including Tesla and BMW.

The project would use hydroelectric power, thus helping to greatly reduce its carbon footprint.

US stock of Sigma Lithium, which has a market capitalization of $3.21 billion, nearly trebled in value last year.

Chief executive Elon Musk said last year Tesla was open to buying a mining company if producing its own supply of electric vehicle metals would speed up worldwide adoption of clean energy technologies.

Tesla and other automakers routinely talk to mining companies of all sizes about potential supplies of lithium and other EV metals without necessarily signing contracts.

Last month, Tesla signed an agreement with Piedmont Lithium Inc for the supply of spodumene concentrate from Quebec, starting later this year.

Tesla also has supply contracts for nickel, lithium and a range of other EV metals from suppliers across the globe.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

What is frontotemporal dementia? All you need to know about Bruce Willis’ untreatable condition

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hollywood action legend Bruce Willis has been diagnosed with frontotemporal dementia. The actor’s family explained that his condition had worsened since the 2022 diagnosis of aphasia, a condition that affects a patient’s ability to understand language and communicate.

“Unfortunately, challenges with communication are just one symptom of the disease Bruce faces. While this is painful, it is a relief to finally have a clear diagnosis,” a post on the website of the Association for Frontotemporal Degeneration said.

What is frontotemporal dementia?

Frontotemporal dementia, also known as FTD, refers to a group of brain disorders that affect the brain’s frontal and temporal lobes.

These parts of the brain are associated with controlling a person’s behaviour, personality, and language, according to the Mayo Clinic.

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In FTD, these lobes of the brain atrophy, and the shrinking of these areas can cause speech issues, emotional problems and changes in personality.

FTD affects both men and women equally, and the symptoms typically start between the ages of 40 and 65, according to Johns Hopkins Medicine.

Symptoms

Signs and symptoms of FTD vary from patient to patient. While some people with FTD have dramatic changes in their personalities and become socially inappropriate or emotionally indifferent, others lose the ability to communicate and use language. Signs and symptoms of FTD get worse over years.

Behavioural symptoms

1. Increasingly inappropriate social behaviour due to loss of empathy and other interpersonal skills.
2. Lack of judgment and loss of inhibition.
3. Lack of interest (apathy), similar to depression.
4. Repetitive compulsive behaviour, such as clicking, tapping feet or smacking lips.
5. Changes in eating habits and eating inedible objects.
6. Trouble naming things, possibly replacing a specific word with general words.
7. No longer knowing the meaning of words and having hesitant speech that may sound telegraphic.

Physical Symptoms

1. Tremors
2. Rigidity
3. Muscle spasms or twitches and poor coordination
4. Difficulty swallowing and muscle weakness
5. Falls or walking problems

Causes

What causes the changes in the frontal lobes of the brain is usually unknown.

Genetic mutations have been linked to FTD but more than half of the people who develop the disease have no family history of dementia.

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Researchers have found shared genetics and molecular pathways between frontotemporal dementia and amyotrophic lateral sclerosis (ALS), but more research needs to be done to understand the actual cause, as per Mayo Clinic.

Treatment

 Currently, there are no available treatments to treat or slow the progression of FTD.

Healthcare providers may prescribe medicine to treat symptoms which include antidepressants for anxiety and control obsessive-compulsive behaviours and prescription sleeping aids to help ease insomnia and other sleep disturbances.

Antipsychotic medicine may also help in reducing irrational and compulsive behaviours and behaviour modification may help control unacceptable or risky activities.

Speech and language pathologists and therapists can help patients with the adjustment to some of the language and speech changes caused by FTD.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

12 cheetahs from South Africa arrive in Madhya Pradesh today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Twelve cheetahs, seven males, and five females, from South Africa, arrived at the Gwalior Air Force base in Madhya Pradesh on Saturday at 10 am in an Indian Air Force’s C-17 aircraft. They were shifted from here to Kuno National Park in helicopters, ANI reported.

This is the second ‘shipment’ of African cheetahs that India received in a bid to reintroduce the animal back into the country. India received eight cheetahs from Namibia and they were released at the Kuno National Park on September 17 last year. These 12 cheetahs will join eight others.

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At first, these wild cats will be released into their quarantine enclosures at the Kuno National Park by Madhya Pradesh Chief Minister Shivraj Singh Chouhan and Environment Minister Bhupender Yadav, NDTV reported.

An IAF C-17 aircraft carrying the second batch of 12 Cheetahs landed at Air Force Station Gwalior earlier today, after a 10-hour flight from Johannesburg, South Africa.

These Cheetahs were later airlifted in IAF helicopters and have reached the Kuno National Park.

(Pics: IAF) pic.twitter.com/9ayglmaZ8O

— ANI (@ANI) February 18, 2023

10 quarantine enclosures have been created at the reserve for the big cats, officials said. As per Indian wildlife laws, the animals are required to be kept in isolation for 30 days after arrival in the country.

ALSO READ | India signs pact with South Africa to bring 12 cheetahs to Madhya Pradesh’s Kuno National Park

“The 12 cheetahs… have begun their journey to India,” minister for environment, forest and climate change Bhupender Yadav tweeted on Friday.

The 12 cheetahs arriving from South Africa, under the visionary leadership of PM Shri @narendramodi ji to restore our ecological balance, have begun their journey to India.

Indian Air Force’s C-17 Globemaster aircraft will get them home tomorrow.

Get ready to welcome them. pic.twitter.com/MRlDejQQlo

— Bhupender Yadav (@byadavbjp) February 17, 2023

India’s own species of cheetah, the Asiatic cheetah was declared extinct in 1948 though unconfirmed sightings existed until the later 1950s. Today, however, the Asiatic cheetah population is decimated with less than 15 adult cheetahs being accounted for in the world, all of which are located in Iran. The Asiatic cheetah once inhabited a range from the eastern edges of the Sinai Peninsula in Egypt all the way to the northeastern reaches of India and from the southern tip of the Arabian Peninsula to the Caspian Sea in the north.

ALSO READ | Meet the eight cheetahs coming to India from Namibia

The cheetah reintroduction program is part of the Indian government’s effort to reintroduce the animal back into the Indian subcontinent.

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49th GST Council Meeting: 13 members express interest for state tribunals, says Tamil Nadu Finance Minister

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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13 members of the GST council have expressed interest for state tribunals at the 49th GST Council meeting in New Delhi, according to Tamil Nadu Finance Minister P Thiaga Rajan, who also said that the GST Council has deferred the decision on the Appellate Tribunal, confirming a CNBC-TV18 newsbreak.

CNBC-TV18 had reported earlier in the day citing sources that the subject of the GST Appellate Tribunal has been postponed for the next meeting as nearly 14-15 states had opposed the recommendations made by the Group of Ministers (GoM).

Sources said that the recommendations will need some more refining and suggestions from some states will also be incorporated. The new draft will be circulated to all the members.

The recommendations are currently being deliberated upon at the 49th GST Council meeting in New Delhi.

The proposals drew concerns from states like Uttar Pradesh, Maharashtra, West Bengal, Kerala, and Rajasthan.

Bihar and Punjab have also opposed the recommendations of the council. The states have expressed reservations as they want a separate state tribunal from the proposed National Tribunal, sources said.

CNBC-TV18 had earlier reported on February 14 that the GoM report proposes to constitute a Principal Bench of the Appellate Tribunal at New Delhi.

Other recommendations from the GoM included creating the Appellate Tribunal for hearing appeals against orders passed by the Appellate Authority or the Revisional Authority. The proposed principal Bench to be presided over by the President and shall consist of a Technical Member (Centre) or a Technical Member (State), among others, CNBC-TV18 had reported citing sources.

Abhishek Jain, Partner Indirect Tax at KPMG in India, has expressed that the industry players have long awaited the establishment of a GST Tribunal, as the absence of it has put many cases on hold.

Establishing a GST tax tribunal similar to the one for income tax is essential not only to reduce the need to approach high courts, but also for the betterment of businesses, according to MS Mani of Deloitte India.

The Tamil Nadu Finance Minister also said that the GST compensation to states, pertaining to financial year 2020-21 has been released today and the state expects to receive a sum of Rs 4,233 crore.

Today’s meeting also saw the GST council reduce the levy on pencil sharpers to 12 percent from 18 percent earlier.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Women’s Premier League: Opening batter Smriti Mandhana named RCB captain

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Royal Challengers Bangalore have expectedly named senior India batter Smriti Mandhana as their captain for the inaugural Women’s Premier League (WPL).

The left-handed India vice-captain was signed in the recent auction held in Mumbai for Rs 3.40 crore, the highest price for a player in the WPL auction.

The announcement was made through a video shared on the franchise’s social media handles, which had messages from RCB talisman Virat Kohli and current men’s team skipper Faf du Plessis.

“Now it’s time for another No. 18 to lead a very special RCB team in WPL. Yes, we are talking about Smriti Mandhana. Go on Smriti. You will have the support of the best team and the best fans in the world,” Kohli said.

Also Read: IPL 2023 match schedule- Hardik Pandya’s Gujarat Titans to face MSD’s Chennai Super Kings in season opener

On announcing Mandhana as the captain, RCB chairman Prathmesh Mishra said: “Smriti is central to our play bold philosophy and cricketing plans. We have handed her the leadership role, and we are confident that Smriti will lead RCB into greater heights.” On her role as the RCB women’s team captain, Mandhana said: “It is such a great feeling to see Virat and Faf speak so much about leading RCB and I would like to thank RCB management for giving me this amazing opportunity.

“I am looking forward to receiving all the love and support from you fans who I am told are the best in the World. I promise you to give my 100% to lead RCB to success in WPL.” As an opener, the southpaw has made 2661 runs from 113 WT20Is, averaging 27.15 with a strike-rate of 123.19.

Mandhana has also been a sought-after player on the T20 circuit, making appearances for Brisbane Heat, Sydney Thunder (Women’s BBL), Western Storm (Kia Super League) and Southern Brave (The Hundred).

She has captained India in 11 T20Is, of which they have won six and lost five games. She was also skipper of Trailblazers at the Women’s T20 Challenge – the WPL’s precursor – across all four seasons it was held while leading the team to the title in 2020.

The decorated player recently won the ICC Women Cricketer Of The Year for scoring 855 runs in 22 matches in 2021.

The WPL begins on March 4, with Gujarat Giants taking on Mumbai Indians. RCB’s opener is against Delhi Capitals on March 5.

.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

CRISIL unit to acquire Australian research and consulting firm Peter Lee for AUD 6.15 million

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Global analytics company CRISIL, majorly owned by S&P Global inc. will expand its offerings to Australia and New Zealand region through the acquisition of Peter Lee Associates Pty. Ltd. for AUD (Australian Dollars) 6.15 million.

The company has entered into a definitive agreement to acquire the Australian research and consulting firm and the acquisition will complement its existing portfolio.

Consideration for the acquisition will be paid in cash and the transaction is expected to be completed in the next three months, subject to customary closing conditions.

The acquisition will be done through CRISIL’s wholly-owned subsidiary CRISIL Irevna Australia Pty. ltd.

“The deal will accelerate CRISIL’s strategy in the APAC region to be the foremost player in the growing market,” CRISIL MD & CEO Amish Mehta was quoted as saying.

Founded in 2004, Peter Lee is headquartered in Australia with presence in New Zealand. The company provides benchmarking research programs to the financial services sector in Australia and New Zealand across banking, markets and investment management.

Over the last three financial years that ended in June, Peter Lee has reported revenue of 3.2 million, 3 million and 2.4 million respectively, starting with the latest year first.

CRISIL’s last acquisition came in December 2019, when it acquired complete stake in Greenwich Associates LLC. The deal was completed in February 2020.

Shares of CRISIL have risen 9 percent over the last 12 months.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

NSE Semi Annual Index Review: Adani Wilmar, Varun Beverages to be included in Nifty Next 50

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Adani Wilmar, Varun Beverages, Canara Bank, Page Industries, and ABB India will be included in the Nifty Next 50 index as part of the semi-annual review of the broader market indices of the National Stock Exchange.

The five names will replace another five stocks – Bandhan Bank, Biocon, Gland Pharma, Mphasis and One 97 Communications – the parent of Paytm, which will be excluded from the index.

The Nifty Next 50 Index represents 50 companies from the Nifty 100 after excluding the Nifty 50 companies.

Changes made to the Nifty Next 50 index will also be applicable to the Nifty 100 index.

No changes have been made to the Nifty 50, Nifty Bank, and Nifty IT indices.

Since the breakout of the Hindenburg Scandal, where the US-based short-seller made a litany of allegations, accusing the the Gautam Adani-led group of fraudulent transactions and share price manipulation, shares of Adani Wilmar have corrected sharply.

The stock has seen 10 lower circuits of five percent, five upper circuits of five percent and have been volatile since January 24.

Adani Wilmar was one of the first few IPOs of 2022. Despite the volatile moves, the stock is still nearly 100 percent higher than its IPO price of Rs 230.

The Nifty 500 will see the inclusion of recent listings like Bikaji Foods, Five-Star Business Finance, Global Health Ltd. or Medanta, Keystone Realtors, Kfin Tech and 15 other companies, while Aditya Birla Sun Life AMC, MOIL, Dilip Buildcon, Shilpa Medicare and others will be excluded.

Here are some changes made to other sectoral indices:

Nifty Metal

Inclusion: NMDC
Exclusion: MOIL

Nifty Realty

Inclusion: Mahindra Lifespaces
Exclusion: Sunteck Realty

Nifty Commodities

Inclusion: Adani Power
Exclusion: The Ramco Cements

Nifty Energy

Inclusion: Coal India
Exclusion: GAIL

Nifty PSE

Inclusion: NMDC
Exclusion: NALCO

Nifty Financial Services Ex-Bank

Inclusion: Piramal Enterprises
Exclusion: Manappuram Finance

Nifty Healthcare

Inclusion: Max Healthcare Institute
Exclusion: Gland Pharma

The changes to all these indices will take effect from March 31.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow