Latest news with #A.RevanthReddy
The Hindu
2 days ago
- Business
- The Hindu
L&TMRH metro rail ticket fare hike irks government
The Telangana government is once again reportedly upset with the L&T, this time for going ahead with the fare hike of the Hyderabad Metro Rail (HMR) operations of Phase-I of 69.2 km across the three traffic corridors by its subsidiary L&T Metro Rail Hyderabad (L&TMRH). L&TMRHL had announced a 20-25% hike on metro train ticket fares from May 17 and within a few days, revised the same with a 10% discount from May 24 effectively changing the hike in ticket fares from ₹1 to ₹19 in all the three metro corridors — Red, Blue and Green. The service operator had cited the recommendation of the Centre-appointed Fare Fixation Committee (FFC), headed by a retired high court judge (with representatives of the Centre and State), for the ticket fare hike. The firm had earlier revoked the discount on non-peak hours, but retained the student passes. Chief Minister A. Revanth Reddy had apparently conveyed to the metro rail authority to keep in abeyance the proposed ticket fare hike, according to official sources. Yet, the top management of the metro service operator went ahead with the announcement citing mounting losses due to project delay, high interest rate of loans and COVID suspension of services. The sources said that the government had expressed its displeasure over the manner in which the fare revision was done by the top brass of the firm, while pointing out that it is a public, private partnership (PPP) project. There has been 10% drop in ridership post the new fares though metro rail officials say the numbers will stabilise in three months. The government, which is reported to be upset with L&T over the Kaleshwaram Lift Irrigation Project construction imbroglio, has another gripe with the firm. It is about the pact to be made between L&TMRH and Hyderabad Airport Metro Limited (HAML) on sharing of existing infrastructure, including trains, metro lines and revenues, when the second phase becomes operational. The Centre, currently studying the detailed project reports (DPRs) for the HMR second phase of 76.4 km estimated to cost ₹24,269 crore for five corridors, has sought an advance pact from PPP concessionaire and the State government. The government was irked over the unhurried stance of the firm. Although a pact seems to be place now. Further, the government wants to put pressure on L&TMRH to purchase new train sets, which it has been proposing for a while, in view of the rush hours peak ridership. L&TMRH has been in talks with a public sector firm for buying 10 three-coach train sets in two stages though it is yet to firm up the contract. 'It could take at least 15-18 months for new trains to arrive. So, the concessionaire will be told to expedite matters,' said a top official. L&TMRH has been running all the 57 train sets for making 1,075 trips a day from dawn to dusk across the 69.2 km in three routes of LB Nagar to Miyapur 29 km (Red), Nagole to Raidurg 29 km (Blue) and JBS to MGBS 11 km (Green) with an average of 4.75 lakh riders a day.
The Hindu
2 days ago
- Business
- The Hindu
NSE, WE Hub ink MoU to benefit women entrepreneurs
The National Stock Exchange (NSE) and the WE HUB Foundation, have decided to collaborate on multiple areas related to empowerment of women and women-led enterprises. Promoting financial literacy through investor awareness programmes; spread awareness among women-led micro, small and medium enterprises (MSMEs) of fund raising through initial public offer (IPO) utilising the NSE Emerge Platform; and to implement student skilling programme in the BFSI Sector across Telangana are some the key components of an MoU signed by them here recently. This MoU was exchanged in the presence of Chief Minister A. Revanth Reddy and others by Chief Business Development Officer of NSE Sriram Krishnan and WE Hub Foundation CEO Sita Pallacholla, NSE said in a release on Wednesday. The MoU is a step toward advancing financial literacy, strengthening investor awareness and empowering both existing and aspiring investors.
The Hindu
3 days ago
- Politics
- The Hindu
Future of country is in the classrooms: CM Revanth Reddy
Individuals in society are recognised for their education rather than their caste affiliation. Dalits, tribals and weaker sections in the State must give up their sense of inferiority and be more confident for the government is establishing Young India Integrated Residential Schools (YIRS) to prepare them to compete on the world stage, Chief Minister A. Revanth Reddy said on Wednesday. Speaking at the awards distribution ceremony for students of Telangana Social Welfare Residential Educational Institutions Society (TGSWREIS) held at Babu Jagjivan Ram Bhavan here, he said that leaders who strive for people will be remembered in history — such as Suravaram Pratap Reddy after whom the Telugu University is named now and the women's university after 'Veeranari' Chakali Ilamma. 'Why did the BRS government not take steps to encourage weaker sections as stakeholders in the government by providing education? They had introduced goat, sheep and fish distribution schemes and neglected the weaker sections,' he said. Mr. Reddy added that his government made several Dalit appointments — such as the first Dalit Vice Chancellor in the history of Osmania University, Telangana Education Commission Chairman Akunuri Murali and Legislative Assembly Speaker Gaddam Prasad Kumar — 'and all of them have been recognised because of their educational background and not caste.' Exhorting students to work hard to excel in their careers, to make their parents and the State proud, Mr. Reddy said the future of the country is in the classrooms. Future of children At the event, Deputy Chief Minister Mallu Bhatti Vikramarka shared the government's resolve to build a socially just Telangana. Citing allocation and utilisation of funds under SC/ST Sub-Plan of ₹40,232 crore for SC welfare and ₹17,169 crore for ST welfare in the recent budget, and carrying forward the the unspent funds of ₹13,223 crore and ₹1,296 crore respectively by the previous government, he said the government is committed to the people and for a comprehensive development. Affirming the government's commitment for the development of children from BC, SC, ST, minorities and economically weaker sections, Mr. Vikramarka said, 'the future of these children is indeed the future of our State — we are ready to spend any amount for their development.'
The Hindu
3 days ago
- Business
- The Hindu
After Revanth meets PM, Hyderabad Metro Rail Phase II awaits Centre's final nod for the JV
There is renewed hope of the Hyderabad Metro Rail Phase II covering 76.4 km spread across five corridors, including extending the existing first phase lines of 69.2 km in the capital region, getting on track at an estimated cost of ₹24,269 crore soon. With Chief Minister A. Revanth Reddy meeting Prime Minister Narendra Modi during the NITI-Aayog conclave and once again seeking his support for next phase recently, senior officials are confident of getting the clearance. The Centre's support is crucial because a joint venture pact with it will enable the Telangana government to access the loan from multilateral agencies like JICA, Japanese International Cooperation Agency, and others, at a nominal interest rate of about 2% with a long repayment period. The Centre's sovereign guarantee cover for such loans will enable States to source funds from foreign funding agencies. This financial model will be unlike the HMR first phase project taken up under the Public, Private Partnership (PPP) — world's largest for Metros — as decided by the then government when nationalised banks issued a loan at 10%, explained senior officials. The Telangana government's share of the Metro rail second phase project of the total cost of ₹24,269 crore is projected to be 30% or ₹7,313 crore, Centre's share will be 18% or ₹4,230 crore and loan will be 48% or ₹11,693 crores with the PPP component being 4% or ₹1,033 crore. Usually, it takes about three months for the project to vetted by the Central ministries for a JV. Though it has been seven months since the State government had submitted the Detailed Project Reports (DPRs) prepared by the Hyderabad Airport Metro Rail (HAML), it is learnt that the Centre had posed a few questions. These are about how the first and second phase Metro rail operations will be intertwined once the latter becomes operational since the first phase was built and is run by a private concessionaire L&T Metro Rail Hyderabad (L&TMRH). There were queries raised about the potential ridership scenario of 8 lakh to 10 lakh passengers a day once the second phase becomes operational. HAML has reportedly stated that the ridership numbers is a 'conservative' estimate considering the growth of city in the last 10 years, and promised to take further traffic studies while stating that the capital region has expanded into the suburbs and beyond including offices, factories, warehouses, etc. It is also pointed out that Bengaluru, Chennai, Nagpur and Pune Metros witnessed riders count doubling once the new lines were added with inter-connectivity varying from 1.5 lakh to 7.5 lakh a day. Incidentally, Chennai Metro Rail Phase Two got Centre's approval in October last year but it took six years though the Tamil Nadu government had started the construction work. Finally, it will be the Prime Minister's Office that will take the call.
The Hindu
3 days ago
- Politics
- The Hindu
BJP demands clearance of 16,000 pending RTI applications
The Bharatiya Janata Party (BJP) has demanded the Congress government in Telangana to implement the Right To Information Act (RTI) since about 16,000 applications are reportedly pending with the authority concerned. Party spokesperson Rani Kumudini told at a press conference held in Hyderabad on Wednesday (May 28) that just like the previous Bharat Rashtra Samithi (BRS) government, the current government was also reluctant to part with information with regard to any decision taken by various departments even under the RTI Act. She pointed out that the RTI Act was brought into force by the Congress-led United Progressive Alliance (UPA) government in the Centre and wondered why the government led by Chief Minister A. Revanth Reddy dragged his feet in providing information under the Act. The party sought details of the loans taken in the last few months and answers to 27 questions raised has been difficult to come by from the Finance department, she charged. The BJP leader pointed out that the Finance department is headed by deputy Chief Minister Mallu Bhatti Vikramarka and the present chief secretary K. Ramakrishna Rao was at the helm of affairs till recently. She urged the Chief Minister to take steps to see that the RTI Act is implemented in true letter and spirit.
