logo
Kurichi-Kuniyamuthur UGD project to be fully commissioned by July

Kurichi-Kuniyamuthur UGD project to be fully commissioned by July

Time of India10-05-2025

Coimbatore: Now that the
for the Kurichi-Kuniyamuthur underground drainage (UGD) project has reached its final leg, the project is expected to be fully commissioned by July. While work on the Rs591 crore project started in 2018, it missed the 2021 deadline owing to the Covid-19 pandemic and delayed approval from the railway department for laying the pipeline across the Podanur-Pollachi railway line.According to an official source, work on laying the pipeline across the railway line was pending for long, prompting authorities to commission the project until the railway line.
Tired of too many ads? go ad free now
"We had to lay the pipeline for 300 meters across the Podanur-Pollachi railway line. We have laid the pipeline for 200 metres and now just 100 metres is left. Work on both the water supply and UGD pipelines is being carried out simultaneously in collaboration with the railways, Tamil Nadu Water Supply and Drainage (TWAD) Board and the city corporation," the source said. The railways is also constructing an iron rail over-bridge and an underground box culvert to support the pipeline work. Commenting on the project progress, a
official said, "Work on the box culvert and over-bridge is pending only by another 50 meters and 25 metres, respectively.
Once all these are completed, the project is ready to go. However, house service connections will begin only after laying the pipeline. Two of the four pumping stations are already commissioned. Now, the focus is on integrating the connections from the remaining two pumping stations on Chatram Street and at Chinna Sudugadu.
"When contacted, corporation commissioner M Sivaguru Prabhakaran said the pipeline laying work on the railway crossing section would be completed by May 20. "After that, we will proceed with house service connections, which will take another two and half months. The total target is 42,000 house service connections, of which 7,500 have already been completed. The total processing capacity of the project is 10 million litres per day."

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

World Bank slashes global growth forecast, cites higher tariffs and uncertainty
World Bank slashes global growth forecast, cites higher tariffs and uncertainty

India Today

timean hour ago

  • India Today

World Bank slashes global growth forecast, cites higher tariffs and uncertainty

The World Bank on Tuesday slashed its global growth forecast for 2025 by 0.4 percentage point to 2.3 per cent, saying that higher tariffs and heightened uncertainty posed a "significant headwind" for nearly all its twice-yearly Global Economic Prospects report, the bank lowered its forecasts for nearly 70 per cent of all economies - including the United States, China and Europe, as well as six emerging market regions - from the levels it projected just six months ago before US President Donald Trump took has upended global trade with a series of on-again, off-again tariff hikes that have increased the effective US tariff rate from below 3 per cent to the mid-teens - its highest level in almost a century - and triggered retaliation by China and other countries. The World Bank is the latest body to cut its growth forecast as a result of Trump's erratic trade policies, although US officials insist the negative consequences will be offset by a surge in investment and still-to-be approved tax bank stopped short of forecasting a recession, but said global economic growth this year would be its weakest outside of a recession since 2008. By 2027, global gross domestic product growth was expected to average just 2.5 per cent, the slowest pace of any decade since the report forecast that global trade would grow by 1.8 per cent in 2025, down from 3.4 per cent in 2024 and roughly a third of its 5.9 per cent level in the 2000s. The forecast is based on tariffs in effect as of late May, including a 10 per cent US tariff on imports from most countries. It excludes increases announced by Trump in April and then postponed until July 9 to allow for bank said global inflation was expected to reach 2.9 per cent in 2025, remaining above pre-COVID levels, given tariff increases and tight labor markets."Risks to the global outlook remain tilted decidedly to the downside," the bank wrote. It said its models showed that a further 10-percentage point increase in average US tariffs, on top of the 10 per cent rate already implemented, and proportional retaliation by other countries, could shave another 0.5 percentage point off the outlook for an escalation in trade barriers would result "in global trade seizing up in the second half of this year ... accompanied by a widespread collapse in confidence, surging uncertainty and turmoil in financial markets," the report it said the risk of a global recession was less than 10 per cent.'FOG ON A RUNWAY'advertisementTop officials from the United States and China are meeting in London this week to try to defuse a trade dispute that has widened from tariffs to restrictions over rare earth minerals, threatening a global supply chain shock and slower growth."Uncertainty remains a powerful drag, like fog on a runway. It slows investment and clouds the outlook," World Bank Deputy Chief Economist Ayhan Kose told Reuters in an he said there were signs of increased dialogue on trade that could help dispel uncertainty, and supply chains were adapting to a new global trade map, not collapsing. Global trade growth could see a modest rebound in 2026 to 2.4 per cent, and developments in artificial intelligence could also boost growth, he said."We think that eventually the uncertainty will decline," he said. "Once the type of fog we have lifts, the trade engine may start running again, but at a slower pace."Kose said while things could get worse, trade was continuing and China, India and others were still delivering robust growth. Many countries were also discussing new trade partnerships that could pay dividends later, he GROWTH FORECAST CUT SHARPLYThe World Bank said the global outlook had "deteriorated substantially" since January, mainly due to advanced economies, now seen growing by just 1.2 per cent, down half a point, after expanding 1.7 per cent in US forecast was slashed by 0.9 percentage point from its January forecast to 1.4 per cent, and the 2026 outlook was lowered by 0.4 percentage point to 1.6 per cent. Rising trade barriers, "record-high uncertainty" and a spike in financial market volatility were expected to weigh on private consumption, trade and investment, it estimates in the euro area were cut by 0.3 percentage point to 0.7 per cent and in Japan by 0.5 percentage point to 0.7 per said emerging markets and developing economies were expected to grow by 3.8 per cent in 2025 versus 4.1 per cent in January's countries would suffer the most, the report said. By 2027 developing economies' per capita GDP would be 6 per cent below pre-pandemic levels, and it could take these countries - minus China - two decades to recoup the economic losses of the heavily dependent on trade with the US, saw its growth forecast cut by 1.3 percentage points to 0.2 per cent in World Bank left its forecast for China unchanged at 4.5 per cent from January, saying Beijing still had monetary and fiscal space to support its economy and stimulate Watch

Trade tremors deepen: World Bank slashes global growth forecast to 2.3% for 2025; warns of long-term hit from tariffs, inflation
Trade tremors deepen: World Bank slashes global growth forecast to 2.3% for 2025; warns of long-term hit from tariffs, inflation

Time of India

time2 hours ago

  • Time of India

Trade tremors deepen: World Bank slashes global growth forecast to 2.3% for 2025; warns of long-term hit from tariffs, inflation

Global growth will slow sharply this year as trade disruptions triggered by sweeping US tariffs increase uncertainty and fragment markets, the World Bank warned in its latest economic outlook released Tuesday. The multilateral lender cut its 2025 global GDP growth forecast to 2.3%, down from the 2.7% estimated in January, citing a weakening trade environment and deteriorating investor sentiment, AFP reported. That would mark the slowest pace of non-recessionary expansion in nearly two decades. 'This is the weakest performance in 17 years, outside of outright global recessions,' said Indermit Gill, chief economist of the World Bank Group, in a press briefing. Meanwhile, World Bank pegged India's economic growth projection at a lower level of 6.3 per cent for 2025-26 due to pressure on exports emanating from global uncertainties, though the country will remain the fastest growing major global economy. In April, the World Bank had lowered India's growth projection for 2025-26 to 6.3 per cent from its January forecast of 6.7 per cent. The World Bank said high levels of policy uncertainty—driven by US President Donald Trump's aggressive tariff regime—were dragging down both growth and inflation expectations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 경상남도 거주자 전용: 무료 영웅 캐릭터를 받으세요! 레이드 섀도우 레전드 Undo Trump's 10% import tariff, rolled out in April and targeting nearly all US trade partners, has since been suspended temporarily until July. The tariff war with China has also paused, but prospects for a durable truce remain unclear. 'Without a swift course correction, the harm to living standards could be deep,' Gill cautioned. Developing economies face slower recovery While advanced economies have seen a steeper cut in their growth forecasts, the World Bank noted that emerging markets—particularly commodity exporters—are facing a damaging mix of low prices and market volatility. Roughly 60% of developing nations are commodity exporters and are now grappling with what Gill called a 'very nasty combination' of falling prices and unpredictable global demand. The bank projects global growth to average just 2.5% for the remainder of the decade through 2029, making it the slowest ten-year growth rate since the 1960s. By 2027, the per capita GDP of high-income countries is expected to return to its pre-pandemic trajectory. But for developing nations—excluding China—per capita output is projected to be 6% below pre-Covid forecasts, Gill said. 'Except for China, it could take these economies about two decades to recoup the economic losses of the 2020s,' he warned. Despite the grim outlook, the World Bank stressed that decisive policy moves could still avert permanent damage. 'If the right policy actions are taken, this problem can be made to go away with limited long-term damage,' Gill said. The report urged G20 economies to avoid trade fragmentation and suggested that developing nations should reduce tariffs across the board—not just with the US—and harmonise cross-border rules to drive sustainable growth. Tariffs in developing countries are generally higher than in advanced economies, the Bank noted, often due to protectionist strategies or limited sources of government revenue. The World Bank's warning comes amid a series of downgrades by other global agencies. The OECD this month cut its 2025 global growth projection from 3.1% to 2.9%, citing the chilling effects of Trump's trade actions. In April, the IMF lowered its forecast from 3.3% to 2.8%. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

The ₹1 crore illusion: Why financial advisor Akshat Shrivastava says your money won't be worth what you think in the future
The ₹1 crore illusion: Why financial advisor Akshat Shrivastava says your money won't be worth what you think in the future

Time of India

time2 hours ago

  • Time of India

The ₹1 crore illusion: Why financial advisor Akshat Shrivastava says your money won't be worth what you think in the future

Imagine owning a 2BHK flat valued at ₹1 crore. Now imagine that, a year later, without any damage or market crash, its value drops to ₹90 lakh. That kind of loss would feel devastating to most people. But according to finance educator Akshat Shrivastava , this is exactly what's happening to your wealth every year—only it's not as visible. In a post on X, Shrivastava wrote, 'Imagine that your 2BHK flat is worth ₹1 crore. The next year, its value falls to ₹90 lakh. How would you feel? I guess pretty bad, right? What if I tell you: this is actually happening—without you even taking a note of this.' — Akshat_World (@Akshat_World) His point is not about real estate prices falling. It's about the value of money itself quietly eroding over time. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Air strikes, Operation Sindoor answer to those imposing war on country: CM Yogi Adityanath The Economic Times Undo The real culprit: Currency devaluation Shrivastava explains that the real threat to your wealth is currency devaluation . This isn't just about the rupee weakening against the dollar. It's about your money losing its ability to buy the same things it could a year ago. Over time, this loss in purchasing power adds up. One of the main reasons for this, he says, is that governments can print money whenever they choose. And they often do. After the COVID-19 pandemic, for example, the United States printed nearly 20% of its total money supply in just one year. While this helped stimulate the economy in the short term, it also flooded the system with cash, pushing prices up and reducing the value of existing money. Live Events Inflation is quiet, but it's costing you When more money is chasing the same amount of goods and services, prices naturally rise. This is inflation in action. And it's not just a theoretical concept—it affects your everyday life. Shrivastava breaks it down clearly, 'If the rate of money printing is 10%, and your post-tax deposit rate is 6%, your money is losing 4% of its value each year.' In simpler terms, if you're keeping your money in a savings account or fixed deposit, and inflation or money printing is rising faster than your interest earnings, you are effectively becoming poorer over time. Your money may appear to grow on paper, but in reality, it buys you less. Why most people don't notice or care Despite the seriousness of the issue, Shrivastava believes that most people remain unaware or indifferent. He attributes this to a lack of financial education and a general disinterest in economics. 'People don't protest. Because most of them don't bother with economics. Cricket and politics keep them busy,' he said. This lack of awareness allows inflation to quietly erode wealth year after year, without most people even realising it. How to defend your wealth To protect against this slow but steady loss, Shrivastava recommends investing in assets that tend to hold or increase in value over time. These include stocks, high-quality real estate, gold, and Bitcoin. 'Stocks, (good quality) real estate, gold, and Bitcoin are all hedges,' he said. However, he also cautions that these investments are not risk-free. Timing matters. Buying the right asset at the wrong time can still lead to poor returns. To illustrate this, he offered a real-world example, 'If you would have bought BTC on its 2021 high, you would have made 0% returns for 3 years—even though its 10-year CAGR is 88%.' This means that even assets with strong long-term performance can deliver flat or negative returns if purchased without proper analysis or timing. The bigger problem: Knowing how to invest properly Shrivastava believes that the real challenge is not just choosing the right assets, but knowing how to invest wisely. This includes understanding when to buy, how to evaluate value, how much to invest, how much cash to keep for emergencies, and when to take profits. 'Most people don't know how to execute these points: what assets to buy when, how to analyse value, how much to buy, how much cash to keep, and how to book profits,' he explained. Without this knowledge, even the best investment options can fail to protect your wealth. Practical advice for everyday investors Shrivastava's advice is straightforward and practical. He encourages people to diversify their investments rather than keeping all their money in one place. He also stresses the importance of learning about economics and financial planning, even if it seems complex or dull at first. He advises against chasing trends or hype, urging people to focus on value and long-term growth instead. Most importantly, he reminds us that building wealth takes time and discipline—but losing it can happen quickly if we're not careful. Shrivastava's message is clear and urgent. Inflation is real. Currency devaluation is happening. And if you're not paying attention, your savings may already be worth less than you think. 'Every year, their wealth keeps going down—in real terms,' he warned. The solution is not panic, but preparation. Stay informed. Invest wisely. And don't let your money sit idle while the world around it changes.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store