The World Opinion

Category: Economy

  • Electricity Bill For Tata Power Consumers In Mumbai To Get Higher From April 1 | Economy News

    Mumbai: Tata Power’s Mumbai customers will have to pay higher electricity bills from April 1 as power regulator Maharashtra Electricity Regulatory Commission (MERC) has approved an average tariff increase of around 24 per cent as against 12 per cent claimed by the power distributor.

    The present tariff hike is necessitated as there was under-recovery due to a stay on tariff as determined in the MTR (mid-term review) Order for FY 2023-24.

    Had there been no stay, the tariff for FY 2024-25 would have resulted in a tariff decrease of 13 per cent than approved by the MERC in the MTR Order.

    Tata Power is a licensee for electricity distribution in Mumbai city and suburbs and Mira-Bhayander Municipal Corporation.

    Out of its total consumer base of 7.63 lakh, approximately 7.15 lakh (94 per cent) consumers belong to the residential category and around 85 per cent of these residential consumers fall within the 0-300 units slab.

    A Tata Power spokesperson said that the MERC has determined the revised tariff for FY 2024-25, resulting in an overall increase due to past approved gaps up to FY 2023-24 to be recovered within FY 2024-25 and remaining within a range of plus and minus 20 per cent of the average cost of supply.

    “Despite this, our residential tariff for the 0-100 (units) category remains the lowest, while the 101-300 category is only slightly higher than other private players. Tata Power is committed to supplying reliable and quality power supply to its consumers and is optimising power purchase costs, which could lead to tariff reductions due to negative FAC (fuel adjustment charge),’’ the spokesperson added.

    An energy expert observed that as the tariff rise will be seen in the monthly bill of May, a section of Tata Power consumers may shift to the BEST (BrihanMumbai Electric Supply and Transport) or Adani Electricity in the wake of the rise approved by the MERC, due to the major tariff differential between it and the other power distributors.

    Besides, if Tata Power witnesses the migration of its consumers, it will still have to continue to draw power under various power purchase agreements, paying a fixed charge despite a fall in the requirement.

    The MERC, in its order, said that the tariff rise on account of full recovery of Wires ARR (aggregate revenue requirement) is approved against 50 per cent claimed by Tata Power. The Electricity (Amendment) Rules, 2024, notified by the Ministry of Power on January 10, 2024, does not allow deferment of revenue gap- Impact of Rs 155.99 crore.

    Further, the power distribution company has not factored in the refund of the revenue of Rs 346.79 crore which has been considered by the MERC for FY 2023-24 for the period April 2023 to June 2023, due to stay of MTR Order by the Appellate Tribunal for Electricity (APTEL).

    The MERC has also considered cash discount likely to be availed by consumers as per past trends and accordingly reduced the revenue for FY 2023-24 and FY 2024-25 by Rs 100.12 crore.

  • Good News For Central Government Employees; Union Cabinet Approves 4% DA Hike

    The hike in DA aims to provide relief to government employees and pensioners.

  • PM Surya Ghar Muft Bijli Yojana: How Much Money Can You Save In Uttar Pradesh? Check Solar Rooftop Calculator On Estimated Project Cost, Consumer Share And Subsidy | Economy News

    New Delhi: Prime Minister Narendra Modi has launched the PM Surya Ghar Muft Bijli Yojana that aims to provide free electricity up to 300 units every month for One Crore households. 

    The rooftop solar scheme provides a CFA of 60% of system cost for 2 kW systems and 40% of additional system cost for systems between 2 to 3 kW capacity. The CFA will be capped at 3 kW. At current benchmark prices, this will mean Rs 30,000 subsidy for 1 kW system, Rs 60,000 for 2 kW systems and Rs 78,000 for 3 kW systems or higher.

    Households will be able to access collateral-free low-interest loan products of around 7% at present for installation of residential RTS systems up to 3 kW.

    PM Surya Ghar Muft Bijli Yojana: How Much Money Can You Save In Uttar Pradesh? Check Solar Rooftop Calculator

    We have chosen Uttar Pradesh in the state bar, Category is Residential and the assumed estimated Your Average Monthly Bill as Rs 2,000.

    Solar Rooftop Calculator Comes As The Following

    Estimated Project Cost: Rs 1 Lakh

    Estimated Consumer Share: Rs 40,000

    Subsidy: Rs 60,000

    Rooftop Area: 200 square feet or 19 square meter

    Electricity Generation: 8.64 kWh/day or 3153 kWh/year

    Financial Savings: 25.92/day or 9460/year

    Emission Savings (in 25 years): 57 Tonne CO2

    Payback Period: 5.47 Years

    Return on Investment: 26 percent

    PM Surya Ghar Muft Bijli Yojana: How To apply for subsidy

    The households will have to apply for subsidy through the National Portal and will be able to select a suitable vendor for installing rooftop solar. The National Portal will assist the households in their decision-making process by providing relevant information such as appropriate system sizes, benefits calculator, vendor rating etc.

  • Meet Man Who Used To Vend Snacks In Theatre For Rs 1000 Now Owns 5000 Cr Company; Read The Inspiring Journey | Companies News

    New Delhi: Few tales of entrepreneurial triumph echo as resoundingly as that of Chandubhai Virani, who turned hardship into victory. When his first business venture failed, leaving him facing major financial difficulties, Chandubhai refused to give up. Instead, he saw it as a chance to start afresh. His success story demonstrates that with patience, hard work, and appropriate planning, one can overcome any obstacle and achieve great success.

    Financial Difficulties 

    Chandubhai Hirani, the founder of Balaji Wafers Pvt Ltd, grew up in a farming family in Gujrat. He used to sell agricultural products and equipment during his first business which failed just two years after. Thus, he had to face financial difficulties.

    Started New Business

    Despite facing numerous difficulties, Virani didn’t give up. Instead, he started a new business with more careful planning and commitment. Now, his company is worth crores of rupees and has expanded all across the country.

    Started making homemade chips

    Chandubhai Virani took on several small jobs, like fixing cinema seats, putting up posters, and vending snacks in a theater for Rs 1000 monthly to help his family financially. But he wasn’t satisfied with these roles and chose to launch his own business instead. He started making homemade chips, which gained popularity among the public.

    Founded Balaji Wafers Private Limited

    Chandubhai borrowed Rs 1.5 lakh from a bank and started his potato wafer business by opening the first factory in 1982. As the factory prospered, he and his brothers founded Balaji Wafers Private Limited in 1992. The company could produce 6.5 million kilograms of potatoes and 10 million kilograms of namkeen daily. Today, Balaji Wafers is a top snack manufacturer in India, offering various products and having a strong distribution system.

    Today, his company, Balaji Wafers, holds a 12 percent share in the Rs 43,800 crore snack market. It ranks as the third-largest snacks seller in India and had a turnover of Rs 5000 crore in March of last year. The company has 7000 employees, with half of them being women. They produce 3,400 kg of chips every hour.

  • KTM Reveals New Colour Options Of RC 200, 390 And Adventure 250, 390 | Auto News

    KTM has given its 2024 RC and Adventure ranges a facelift to boost their charm. This means the Duke, RC, and Adventure models have all received some exciting updates for 2024. Here’s a closer look at the fresh features and colours of the 2024 RC and Adventure models.

    The 2024 KTM RC Series

    While we’re eagerly anticipating the RC range to inherit the beefier engine from the 390 Duke, those upgrades are still on the horizon. For now, the 2024 RC lineup, which includes the RC 125, RC 200, and RC 390, is dazzling us with new colors. The flagship RC 390 model now sports a vibrant KTM Factory Racing Orange, whereas the RC 200 and RC 125 are rolling out in sleek black and cool blue, respectively.

     

    Besides the splash of new colours, the bikes’ engines and electronics have stayed the course. The RC 390 boasts a 373cc engine with 43 horsepower, the RC 200 is equipped with a 25 horsepower 199cc engine, and the RC 125 powers through with its 14.3 horsepower engine.

    The 2024 KTM Adventure Series

    Echoing the RC range, the Adventure series, featuring the 390 and 250 models, is also holding off on engine and frame upgrades for now. However, 2024 brings fresh colour schemes to the table. The 390 Adventure introduces two new paint jobs: a sleek grey and white combo and the iconic orange and black. Meanwhile, the 250 Adventure debuts in a new Lunar Grey.


    Under the hood, the engines and electronics remain consistent. The 390 Adventure is driven by a single-cylinder engine cranking out 43 horsepower, and the 250 Adventure comes with a 30 horsepower engine. Both are mated to a six-speed transmission.

    Looking ahead, the KTM Adventure series is expected to undergo a significant revamp next year. Spy shots of the new models suggest enhanced capabilities, thanks to longer suspension travel and improved ground clearance, all while maintaining a saddle height that’s comfortably reachable

  • Jeff Bezos Leapfrogs Elon Musk: Amazon CEO Reclaims Title As World's Richest Man

    Bernard Arnault is ranked third with a net worth of $197 billion. 

  • Tata Motors Unveils Dark Edition Of Nexon, Nexon EV, Harrier, Safari: Check Details | Auto News

    Tata Motors has reintroduced the Dark Edition range for its SUV lineup, featuring all-black variants of the Nexon, Nexon EV, Harrier, and Safari models. While these variants were previously available for the pre-facelift versions, they were not updated when the models underwent comprehensive upgrades last year. The Dark range starts with the Nexon Dark, priced at Rs 11.45 lakh (ex-showroom) and goes up from there. The electric version of the Nexon Dark is priced at Rs 19.49 lakh (ex-showroom) onwards. Meanwhile, the Dark Editions of the Harrier and Safari are priced at Rs 19.99 lakh and Rs 26.99 lakh (both ex-showroom), respectively.

    Nexon Dark: Features and Variants

    The Nexon Dark edition will be available in both mid-spec Creative trims and top-spec Fearless variants, priced approximately Rs 35,000 higher than their base models. Notably, the features list remains consistent with the variant it is based on. The top-spec Nexon Dark trims offer additional perks such as wireless charging, a concealed capacitive touch panel for automatic climate control, and black leatherette seats.
    Customers can opt for various powertrain options with the Nexon Dark, including the 1.2-liter turbo-petrol engine paired with a range of transmission choices and the 1.5-liter diesel engine available with manual and AMT options.


    Nexon EV Dark: Features and Trim

    In contrast to the Nexon Dark, the Nexon EV Dark edition is based on the top-spec Empowered + LR trim, priced slightly higher. This variant is equipped with a powerful 145hp, 215Nm electric motor and a 40.5kWh battery pack, offering an impressive ARAI-tested range of 465km.


    Tata Harrier and Safari Dark Editions

    Tata’s flagship SUVs, the Harrier and Safari, have been available with Dark Editions since their launch last October. Notably, the prices have remained unchanged over the past four months. The Harrier Dark edition starts at Rs 19.99 lakh, while the Safari Dark edition is priced from Rs 20.69 lakh.
    The Harrier Dark edition is offered across mid-spec Pure and Adventure variants, as well as the top-spec Fearless variant. Similarly, the Safari Dark edition is available with the mid-tier Pure and Adventure variants, along with the top-spec Accomplished variant. Both SUVs share the reliable 2.0-liter diesel engine and offer manual and torque converter automatic gearbox options.


    With the introduction of Dark Editions for Nexon and Nexon EV, Tata Motors continues to offer customers enhanced style and features across its SUV lineup. 

  • Central Government Approves Direct Flight From Dehradun To Ayodhya, Varanasi, Amritsar | Aviation News

    The Central Government today approved direct air service from Dehradun to three major cities of the country – Ayodhya, Amritsar and Varanasi. All three services will be launched on March 6. Chief Minister Pushkar Singh Dhami has expressed gratitude to Prime Minister Narendra Modi and Civil Aviation Minister Jyotiraditya Scindia for the approval of air services on these three routes. Dehradun Airport is a medium-sized airport in India with domestic flights only. On the other hand, Ayodhya recently got its first airport which has been named Maharishi Valmiki International Airport. PM Modi had inaugurated the airport on December 30 last year.

    In a bid to bolster air connectivity to the sacred cities of Ayodhya, Varanasi and Amritsar, and to cater to the increasing influx of pilgrims, the three air routes have been added to the list. Union Minister of Civil Aviation Jyotiraditya Scindia had virtually inaugurated SpiceJet’s direct flight service linking Ayodhya with eight key cities last month. Now Dehradun has been added to this list.

    The newly launched flight routes establish connections between Ayodhya and prominent urban centres such as Delhi, Chennai, Ahmedabad, Jaipur, Patna, Darbhanga, Mumbai, and Bengaluru. This strategic expansion comes in response to the rising demand for flights to Ayodhya following the recent ‘Pran Pratishtha’ ceremony at the Ram Temple, heightening Ayodhya’s tourism prospects and setting the stage for economic and societal advancement.

    After Prime Minister Narendra Modi officially inaugurated the Ayodhya airport on December 30, regular flight operations commenced a week later, with IndiGo’s Delhi-Ayodhya route. Presently, the airport facilitates 11-12 departures daily, linking the temple town to major cities such as Ahmedabad, Bengaluru, Chennai, Delhi, and Mumbai, among others.
    As per preliminary figures released by the Airport Authority of India, the airport served a total of 42,341 passengers between January 6 and February 6. This comprised 22,546 arrivals and 19,795 departures.

  • Rolls Royce Unveiled Arcadia Droptail: Check Design, Specifications, And Other Details | Auto News

    Rolls-Royce has Introduced its Arcadia Droptail with a wooden treatment. It is named after the mythical paradise ‘Arcadia’. It was showcased in Singapore recently.This majestic vehicle is the third Coachbuilt model introduced by Rolls-Royce, following the footsteps of the Amethyst and La Rose Noire. Let’s Delve into the details of this Luxury Vehicle.

    Rolls-Royce Arcadia Droptail Specifications

    Underneath the hood, the Rolls-Royce Arcadia Droptail is powered by a formidable twin-turbocharged 6.75-litre V12 petrol engine, generating an impressive 593 bhp and 841 Nm of peak torque. Paired with an 8-speed automatic gearbox, this powerhouse propels the Arcadia from 0 to 100 kmph in approximately five seconds.

    Exterior Design:

    The Arcadia Droptail boasts an open-top, two-door design adorned with a captivating paint scheme infused with aluminum and glass particles. This unique blend not only creates a radiant shimmer under light but also imparts a sense of endless depth to the coachwork. Complementing this exterior is the Bespoke silver accent, adding both color and intensity contrast. Unlike its counterparts, the lower section of the Arcadia features a fully painted carbon fiber tub in solid Bespoke silver. The 22-inch alloy wheels, inspired by the architecture of Indonesia, Singapore, and Vietnam, are meticulously mirror-polished, adding a touch of elegance to the overall design.


    Interior Design:

    The interior of the Arcadia Droptail comes with a luxurious Santos Straight Grain wood finish, renowned for its unique interlocking grain pattern. However, utilizing this high-density hardwood presented a challenge due to its susceptibility to tearing during machining. Rolls-Royce overcame this obstacle by developing a bespoke lacquer, ensuring the wood’s longevity, even in tropical climates.


    The Santos Straight Grain wood extends throughout the cabin, including the aerodynamically functional rear deck section. The dashboard features Rolls-Royce’s signature clock design, boasting a complex geometric guilloché pattern with 119 facets, paying homage to the company’s 119-year heritage. Each hour marker, known as ‘chaplets,’ is a mere 0.1mm thick, showcasing the meticulous attention to detail.

  • Delhi Man Accuses Ola Driver Of Slapping In Front Of 6-Year Son: Check His LinkedIn Post | Companies News

    New Delhi: In today’s world, there are many incidents of cab booking difficulties you may have encountered. Some of them instances are late pickups, drivers demanding cash payments, and other inconveniences. These situations have become familiar grievances for users of online ride-hailing apps.

    However, a recent incident involving a Delhi man named Kiran Verma has shocked many, as he accused an Ola driver of assaulting him in front of his 6-year-old son. (Also Read: Bill Gates & Mark Zuckerberg In Indian Wedding Attire: Check How These Mogul Looks In Traditional Outfit)

    What He Alleged In LinkedIn Post?

    According to Verma’s account in a LinkedIn post, the incident occurred last month when he and his son booked an Ola cab to pick someone up from the airport. (Also Read: 7 Fresh IPOs Set To Hit Market This Week: Check A-Z Of Upcoming Offerings)

    Verma claimed that the driver requested him to cancel the ride and pay in cash, which he refused. This refusal led to a confrontation between Verma and the driver.

    Verma detailed in his post, “The driver asked me to cancel the ride and pay him in cash. I denied and with unwanting will, he started the trip.”

    He further stated that the driver took an alternate route from their destination, citing traffic congestion. Verma alleged that the driver then demanded additional payment, escalating the situation.

    What Happened At The Moment?

    Verma recounted that his son, frightened by the escalating tension, urged him to leave the car. Concerned for his son’s safety, Verma contacted both the Ola helpline and the police.

    As Verma and his son exited the vehicle, the situation took a violent turn when the driver allegedly slapped him.

    Describing the incident, Verma stated, “Meanwhile, when I refused to pay him, I clicked his picture with my bag. He came out and slapped me.” Verma emphasized that he did not resort to using abusive language during his communication with the Ola representative.

    LinkedIn Post Goes Viral

    Verma’s LinkedIn post garnered significant attention, with many social media users expressing concern and solidarity with his experience.

    Some users shared their own encounters with similar ordeals, highlighting broader safety concerns associated with online ride-hailing services.