BUSINESS
Govt sets up 7 vehicle testing fitness centres, says road ministry official
Vehicle Inspection and Certification Centres have been set up at Cuttack in Odisha, Lucknow in Uttar Pradesh, Bengaluru in Karnataka, Surat in Gujarat, Nashik in Maharashtra, Rohtak in Haryana and Jhuljhuli in Delhi, sources told Moneycontrol.
BUSINESS
Explained | How the AERA bill will impact the government's airport privatisation plan
In a bid to expedite its asset monetisation plan and for faster development of smaller airports in the country, the Central government on March 24 introduced the Airports Economic Regulatory Authority of India (Amendment) Bill, 2021.
BUSINESS
DGCA approves 18,843 flights per week for summer schedule
The aviation regulator has also asked all airports to increase their surveillance and to ensure COVID-19 protocols are being adhered to as it believes the compliance at some airports is not satisfactory.
BUSINESS
Govt proposes up to 25% tax concession on new vehicles if owners submit scrappage certificate
As per the draft notification issued by Ministry of Road Transport and Highways today, personal vehicles purchased with a certificate of vehicle scrapping will be given a concession of 25 percent on motor vehicle tax, while commercial vehicles will be given a concession of 15 percent.
BUSINESS
Shipping tariff rates may remain high despite Suez Canal traffic resumption
Tariffs are expected to remain elevated as the vessels that have been diverted already will need to be re-scheduled into the international shipping timelines, analysts have said.
SECTOR
Suez blockage to elevate already high shipping tariffs for next 2 weeks
The already elevated tariffs are likely to rise even more over the next two weeks after a massive cargo ship turned sideways in Egypt's Suez Canal, one of the world’s busiest maritime channels, blocking traffic in a crucial East-West waterway for global shipping, analysts said.
SECTOR
Aviation Minister Hardeep Puri says government expects to get financial bids for Air India in 64 days
While there have been several attempts by the government in the past, this time there is no choice but to privatize or close down the airline as it is running in losses. The national carrier has run up a debt of around Rs 60,000 crore, he told the India Economic Conclave
AUTOMOBILE
Govt extends validity of driving license, vehicle registration certificates till June 30
The decision comes in the light of citizens, transporters and various other organizations facing difficulty in renewing their documents due to the outbreak of the COVID-19 pandemic.
BUSINESS
Airports Authority of India integrates upper airspace over North East India with Kolkata
The move is in line with the airport regulators plan to harmonize the upper airspace in India with four flight information regions in Chennai, Kolkata, Delhi and Mumbai to establish a single continuum of upper airspace.
BUSINESS
Explained | How Adani Ports is getting ready to become India’s largest private operator
While Adani Ports' market share is still below 50 percent, it is expected to have a competitive edge over other players as the 12 major ports owned by the Central government control more than half of the country’s port traffic.
ANNOUNCEMENTS
Govt introduces bill to amend definition of 'major airport' in Lok Sabha
Government has decided to club or pair profitable and non-profitable airports, which could be offered in public-private partnership mode as a package to the prospective bidder.
INDIA
Highway revenue rises in FY21 despite COVID as electronic collection surges: Govt
Highways minister Gadkari says mandatory use of FASTag for cashless toll collection has helped revenue increase to Rs 340 billion a year, and is likely to rise to Rs 1.34 trillion in three to four years.
POLITICS
Explained | India's National Railways asset monetisation plan and how it will be executed
So far the national carrier’s has already identified 87 land parcels, 84 railway colonies, 4 hill railways and 3 stadiums for asset monetisation so far, Minister of Railways Piyush Goyal said Replying to a question in Lok Sabha.
BUSINESS
Vehicle scrappage policy | Govt will setup 75 fitness centres by March 2023, says road ministry official
The MoRTH will also look to set up 50 scrapping centres across India by December 2023, as part of the new vehicle scrappage policy.
BUDGET
EXPLAINED | India's roadways asset monetisation plan and how it will be executed
Asset monetisation is the process of conversion of assets, in this case contracts to build highways, bridges, roads, etc, into economic value.
BUSINESS
Government notifies vehicle recall policy: Check the key highlights
As part of the notification, the government has proposed to increase the fees for two-wheelers older than 15 years to Rs 1,000. Meanwhile, the charge for light motor vehicles has been set at Rs 7,500. Here are the key highlights of the Road Ministry notifications.
BUSINESS
Govt proposes to increase re-registering fee of 15-year-old vehicles
The government has proposed to increase the fees for two-wheelers older than 15 years to Rs 1,000, whereas the charge for renewal and grant of fitness certificate of three-wheeler or quadricycles has been set at Rs 3,500. Meanwhile, the charge for light motor vehicles has been set at Rs 7,500.
AUTOMOBILE
Exclusive | Centre may unveil vehicle scrappage policy next week
Under the new scrappage policy, each state will have a model vehicle fitness centre.
AUTOMOBILE
EXCLUSIVE | Car makers seek quick rollout, heavy customer incentives under scrappage policy
Both industry experts and automobile companies said that the Vehicle Scrappage Policy is seen as the much-needed boost to revive sales in the Indian market, as sales took a hit again in January and February.
