Mitsubishi working on power storage plant
New Delhi: AES India and Mitsubishi Tuesday began construction of India’s first utility-scale energy storage system of 10 MW, which would be ready this year. The system will serve electric grid operated by Tata Power Delhi Distribution Ltd and facilitate grid balancing and stability, TPDDL CEO and Managing Director Praveer Sinha said on the sidelines of ground breaking ceremony of the project. TPDDL has about 7 million customers in Delhi region. Sinha said it will help regulators come out with norms for these services. “At present, there are directives about grid stability, reactive power and peak load management. But this will help sell these services on power exchanges at grid level.” TPDDL is not investing in the storage project. AES, the India unit of US based AES Corporation, and Japan’s Mitsubishi Corporation will own the Advancion storage solution, which is being supplied by Fluence.
Oil price risk to Indian economy: S&P
New Delhi: S&P Global Ratings Tuesday said the Indian economy is shaking off its post-GST implementation woes but risks from higher oil prices have reappeared. In a report titled APAC Economic Snapshots — January 2018, S&P said overall economic risks in India remain low with pick up in industrial output and bank credit. “The Indian economy appears to be shaking off its post- GST implementation woes… Overall economic risks in India remain low, although risks from higher oil prices have reappeared,” it said. International oil prices have been rising which has also led to increased prices of petrol and diesel. A majority of India’s import bill stem from crude oil purchases. Goods and Services Tax (GST) which unifies over a dozen local taxes, including excise and service tax, was implemented from July 1, 2017. During the July-September, 2017, quarter, the Indian economy expanded by 6.3 per cent as manufacturing picked up and businesses adjusted to the new GST tax regime. As per Central Statistics Office (CSO) estimates, the economy will grow 6.5 per cent in the full fiscal ending March.
Quarterly employment figures from September
New Delhi: The government will start releasing quarterly data on employment based on household surveys from September, Niti Aayog Vice Chairman Rajiv Kumar said. Kumar said recommendations of a panel on employment data has been accepted by the government. He said household surveys “have already started”. Kumar said employment data based on payroll surveys would also be produced. “We will use the high frequency data, for example when you ask employers like Ola, Uber, Flipkart, Amazon . . . these organisations are not included in the employment statistics,” Kumar said. The government last May had set up a task force to recommend ways to deal with employment data discrepancies and come up with reliable solutions.
Bajaj Avenger 2018 range rolled out
New Delhi: Bajaj Auto Tuesday said it has launched the 2018 version of its Avenger range in Cruise 220 and Street 220 variants priced at Rs93,466 (ex-showroom Delhi). Both the 220 cc models get all-new LED DRL (daytime running lights) headlamps, visors, digital consoles and graphics, Bajaj Auto said in a statement. Besides, these come with a completely revised tail fender and an all new halo-effect tail lamp, it added. “The 2018 Avengers break new ground in the evolution of this style,” Bajaj Auto President – Motorcycles Business Eric Vas said.
Datsun redi-GO priced Rs3.8L
New Delhi: Nissan Motor India Tuesday announced the launch of automated manual transmission (AMT) version of its redi-GO entry level model from Datsun stable, priced at an introductory price of Rs3.8 lakh. Deliveries of the redi-GO Smart Drive Auto to new customers across India was to begin Tuesday, according to a statement issued by the company. The new vehicle comes with new dual-driving and rush hour modes. In the dual-driving mode customers opt switching between automated and manual mode during uphill or downhill and city traffic conditions. While in the rush hour mode, they can cruise at a speed of 5-6 kmph for drives during in bumper-to-bumper traffic conditions, the statement added. Commenting on the launch, Nissan Motor India Managing Director Jerome Saigot said, “Datsun redi-GO Smart Drive Auto combines the convenience and flexibility of dual-driving mode with best-in-class ground clearance, cabin space, boot space and head room.”
Ford Endeavour with sun roof for Rs29.57 lakh
New Delhi: Ford India Tuesday launched a new variant of its premium SUV Ford Endeavour equipped with sun roof feature priced at Rs 29.57 lakh. The variant will be powered by a 2.2 litre diesel engine paired to a six-speed automatic transmission, Ford India said in a statement. “The introduction of Electric Panoramic Sunroof on 2.2L variant further reinforces our commitment to meet and exceed customer expectations,” Ford India Executive Director, Marketing, Sales and Service Vinay Raina said. The company said the vehicle delivers a fuel economy of 12.62 kmpl.
Sensex breaches 36,000, Nifty above 11,000
Mumbai: The benchmark BSE Sensex Tuesday went past the 36,000 level for the first time while the Nifty hit another record high of 11,045.60 in late morning trade on the back of widespread gains in IT, financials, FMCG and metal stocks.
