logo
Bengaluru, Delhi & Hyderabad get lion's share of e-buses; Kumaraswamy to meet with OEMs soon

Bengaluru, Delhi & Hyderabad get lion's share of e-buses; Kumaraswamy to meet with OEMs soon

Time of India22-05-2025

Delhi, Bengaluru, Hyderabad, Ahmedabad and Surat cities will get 10,900 brand new electric buses under the
PM's e-Drive Scheme
over the next two years.
Bengaluru will get a lion's share of 4500 buses, followed by 2800 buses for Delhi, 2000 for Hyderabad, 1000 for Ahmedabad and 600 for Surat, Union Heavy Industries & Steel Minister HD Kumaraswamy told ET after chairing a meeting in Delhi on the subject.
'We have not allocated 3000-odd buses to any city because we have not received requests from Mumbai, Kolkata and Chennai, so far. We want to give them some more time to make a request. If none of them make a request, we may give 500-1000 more to Karnataka and about 400 more for Telangana,' the minister said.
The Centre is keen to see these buses ply on the city roads in the next two years. 'PM's e-Drive is a good scheme. The cities, of course, would have to get the charging infrastructure in place,' he said, while adding that today's meeting marked a significant step forward in advancing PM Modi's vision for giving our cities a clean and inclusive urban transport solution.
Kumaraswamy said he would call for a meeting with the original equipment manufacturers (OEMs) soon to understand their production capacity and align the delivery schedule with the Centre's targets. He aimed to have all the 15,000 buses delivered in phases over the next 16 months, and wished to understand if the manufacturers could roll out buses fast.
'Delhi asked for 2800 buses and we met their demand,' the Union Minister said. 'From Bengaluru to Delhi, cities are actively embracing electric buses to make public transport cleaner and efficient.'
The PM e-Drive initiative aims to deploy 14,028 electric buses with a total financial outlay of Rs 10,900 crore over a two-year period from April 2024 to March 2026. The scheme represents one of the world's largest national efforts to electrify public transport at scale.
The Ministry of Heavy Industries remains committed to timely delivery, operational readiness, and strategic partnerships with all participating states, Kumaraswamy, who is also the former CM of Karnataka, said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Karnataka to seek increase in devolution funds under 16th Finance Commission
Karnataka to seek increase in devolution funds under 16th Finance Commission

The Hindu

time32 minutes ago

  • The Hindu

Karnataka to seek increase in devolution funds under 16th Finance Commission

To recover losses from reduced devolution to Karnataka under the 15th Finance Commission, the Karnataka government has proposed to seek additional grants under the 16th Finance Commission during a meeting in Delhi on Friday. Chief Minister Siddaramaiah, who also holds the Finance portfolio, and his economic adviser and MLA Basavaraj Rayaraddi, and senior officials would participate in the meeting and hold discussions with Arvind Panagariya, chairman, 16th Finance Commission. The 16th Finance Commission has already held one round of talks with the Karnataka government. Decreased devolution Karnataka, which has been complaining about discrimination in the devolution of funds by the NDA government, is expected to demand the increase in the devolution from 3.64% to 5% in the 16th Finance Commission. The 15th Finance Commission, in its award period (2020-21 to 2025-26), had dragged Karnataka's share (horizontal devolution) down from 4.71% in the 14th FC to 3.64%. Owing to this, according to sources in the State Secretariat, the State is likely to lose ₹62,098 crore during the 15th Finance Commission period. Karnataka gets back only 0.29 paisa for one rupee it contributes to the Central pool of taxes, while Bihar gets back ₹7.06 and Uttar Pradesh gets back ₹2.73. This has been flagged by the government several times. Cess and surcharges Currently, the Centre does not share cess and surcharges collected from States. Karnataka has been requesting the Centre to bring cess and surcharges colleges from States under the divisible pool. The Centre has been collecting about ₹5 lakh crore annually in the form of taxes from the State, but receiving about ₹55,000 crore, including grants from the Centre. The Finance Commission's award period would commence from April 1, 2026.

RBI buyback sees strong demand with bids doubling notified amount
RBI buyback sees strong demand with bids doubling notified amount

Economic Times

time36 minutes ago

  • Economic Times

RBI buyback sees strong demand with bids doubling notified amount

The Reserve Bank of India (RBI) received bids Rs 53,031 crore against the notified amount of Rs 26,000 crore at the second buyback auction of this fiscal year. At the auction held on Thursday, the central bank accepted 99% of the notified amount. ADVERTISEMENT At the first buyback held last week, the RBI received bids worth Rs 27,256 crore, of which the central bank accepted Rs 23,856 crore or 95% of the notified amount, data showed. Buybacks are a way for the government to pay off debt for next fiscal year to reduce its gross borrowing. It also results in RBI infusing durable liquidity into the system. The RBI bought back five government bonds maturing in 2026 at Thursday's auction. The 5.63% 2026 government bond saw the highest demand with bids received at Rs 26,616 crore. Of this, the central bank accepted Rs17,402 crore. 'The strong demand at the buyback auction indicates that banks may have taken this opportunity to lighten their HTM book, especially because there are no OMOs on the horizon,' said Rajeev Pawar, head of treasury at Ujjivan Small Finance Bank. 'In a buyback, banks get to sell short-term bonds and replace them with longer maturity papers and lock-in yields. Further buyback auctions will depend on how the government spending pans out and on evolving liquidity conditions.' ADVERTISEMENT Bonds maturing in FY27 are more than double versus this year at Rs 6.48 lakh crore and are consistently high until 2032. The government has also budgeted Rs 2.5 lakh crore for bond switches this year, 60% more than the previous a bond switch, the government replaces bonds maturing in the near term with long-term debt. The RBI, on behalf of the government, is scheduled to conduct an auction on Monday to switch government securities worth Rs 25,000 crore. It will conduct the auction to switch nine government bonds maturing between 2026 and 2029 for papers with maturity between 2032 and 2062. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)

'We remain steadfast in...': Tata Group announces Rs 1 crore compensation for families of Air India flight crash victims
'We remain steadfast in...': Tata Group announces Rs 1 crore compensation for families of Air India flight crash victims

First Post

time37 minutes ago

  • First Post

'We remain steadfast in...': Tata Group announces Rs 1 crore compensation for families of Air India flight crash victims

'Tata Group will provide Rs 1 crore to the families of each person who has lost their life in this tragedy. We will also cover the medical expenses of those injured and ensure that they receive all necessary care and support,' the statement said read more Rescue team members work as smoke rises at the site where an Air India plane crashed in Ahmedabad, India, on June 12, 2025. Reuters In the wake of the tragic crash of Air India Flight AI-171, the Tata Group on Thursday expressed deep sorrow and announced Rs 1 crore in compensation to the families of each person who lost their life in the crash. 'We are deeply anguished by the tragic event involving Air India Flight 171. No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured,' N Chandrasekaran, Chairman, Tata Sons, said in a statement. STORY CONTINUES BELOW THIS AD We are deeply anguished by the tragic event involving Air India Flight 171. No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured. Tata Group will… — Tata Group (@TataCompanies) June 12, 2025 'Tata Group will provide Rs 1 crore to the families of each person who has lost their life in this tragedy. We will also cover the medical expenses of those injured and ensure that they receive all necessary care and support,' the statement added. The statement also said that the group will provide support in the building up of the B J Medical's hostel. 'We remain steadfast in standing with the affected families and communities during this unimaginable time,' the statement concluded. Air India flight AI-171, a Boeing 787 Dreamliner en route to London, crashed near Sardar Vallabhbhai Patel International Airport shortly after takeoff on Thursday, killing all 242 people on board. The aircraft was seen losing altitude rapidly before crashing in a fireball, sending thick black smoke spiraling into the sky. According to officials, the flight was carrying 169 Indian nationals, 53 British citizens, seven Portuguese nationals, and one Canadian passenger. The 12-member crew was also among those killed. STORY CONTINUES BELOW THIS AD Aviation regulator DGCA confirmed that the aircraft's pilot issued a Mayday call to Ahmedabad Air Traffic Control shortly after takeoff. However, no further communication was received from the cockpit after the distress signal. The flight was commanded by Captain Sumeet Sabharwal, a Line Training Captain (LTC) with 8,200 flight hours, along with First Officer Clive Kundar, who had 1,100 hours of flying experience. In response to the disaster, the Aircraft Accident Investigation Bureau (AAIB) has launched a formal investigation. Senior officials, including the AAIB Director General and Director of Investigation, are en route to Ahmedabad to lead the probe into what caused one of the deadliest aviation accidents in recent Indian history. With inputs from agencies

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