Latest news with #CRF
Time of India
4 days ago
- Business
- Time of India
PWD cleaning storm water drains to avoid a repeat of last year's flooding
Nagpur: Backed by a Rs195 crore allocation in the 2025-26 Central Road Fund (CRF) and state budget, the state Public Works Department (PWD) division number 1 has begun an extensive pre-monsoon cleaning of storm water drains across Nagpur city and district along with construction of cement concrete (CC) roads and other road works at 17 locations. The initiative follows severe flooding during last year's monsoon, when areas like Deendayal Nagar, Pratap Nagar, the Ring Road stretch, especially between Chhatrapati Square and Hingna T-point near Radheshyam showroom, and the Ambazari–Hingna stretch remained submerged for hours after heavy downpour. For the first time, PWD launched a systematic drive to clean both newly-constructed and existing CC drains under its jurisdiction. Executive engineer Abhijit Kuchewar said cleaning work is under way on key routes including South Ambazari Road, Jaitala Road, Temple Road, and the New Railway Feeder Road. The highest allocation of Rs24 crore was made for the construction of cement road from Shatabdi Square to Manish Nagar, followed by Rs20 crore each for Jaitala and the Feeder Road. Temple and South Ambazari roads received Rs18 crore each, while several other stretches like Borgaon, Umred Road, and Zingabai Takli received between Rs3 crore and Rs15 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo "In the South-West Constituency, near the Radheshyam showroom on Ring Road, a newly-constructed drain and pumping station by the EE PWD World Bank division is expected to reduce flooding significantly," said deputy engineer Avinash Gulhane adding, "We are focusing on saucer-shaped low-lying areas that are prone to water accumulation." The PWD is currently working on storm water drains along 29 km of road length, while coordination efforts are under way with agencies like NMC, NHAI, NIT, and MahaMetro to ensure integrated drainage connectivity. NMC's chief sanitation officer Dr Gajendra Mahalle emphasised the need for such preparedness in light of climate shifts. "Today's rain pattern has changed — the same volume that used to fall over three days now pours in a few hours. Rapid discharge is the only solution," said Gulhane. PWD teams are seen clearing drain chambers, removing construction debris and issuing coordination letters to link PWD drains with city-level trunk lines. # 31K storm water chambers cleaned: NMC As per Nagpur Municipal Corporation officials, 35,000 storm water chambers were identified for cleaning ahead of monsoon, out of which 31,724 have already been cleaned by the solid waste management department. These include regular chambers as well as those in rain-affected areas. Apart from this, the drains along major roads, such as the 3-kilometre stretch on Manewada Road, have also been desilted. Although not all these areas have chambers, the entire stretch has been cleared for smooth water drainage. Additionally, a 9-10 kilometres long major drain has been cleaned. Officials added that the desilting work in the trunk lines of the sewerage network is also under way, and 34 main trunk lines are expected to be cleared soon as part of the pre-monsoon preparations.
Mint
15-05-2025
- Business
- Mint
Gifting mutual funds: How does it work and how can you transmit them to legal heirs
Gifting mutual fund (MF) units to your loved ones is a great way of showing your affection. But gifting MFs does not work like other assets such as land, buildings, jewellery and cash. You have to follow clearly laid down procedures specified by the regulators. Here is a guide on how MFs can be gifted and the tax implications for the donor and the receiver. Unlike gifting assets such as property and gold, MFs cannot be transferred easily. If you have a demat account, you can gift your MF units to your loved ones by following some simple steps. If the MF units are not held in a demat account, they have to be converted into a demat form as only after this they can be transferred to the beneficiary. You have to first move your MF units to your demat account if you intend to gift them to your spouse, children, siblings or loved ones. Here are the steps to transfer your MF units to your demat account and then to the receiver of the gift. This can be done through offline or online mode. Get a Conversion Request Form (CRF) from your depository participant (DP). Fill out the CRF with your details and information about MF units. Submit the form and your MF account statement to your DP. The DP will process the transfer with the fund's registrar. Log into your demat account online. Go to the mutual funds section and select the transfer option. Choose the fund and number of units to transfer. Select your demat account as the destination. Review and submit the request. Currently, mutual fund units held in dematerialized (demat) mode are freely transferable, according to the Association of Mutual Funds in India (AMFI). So, you can gift MF units to your loved one if she/he also has a demat account (either with CDSL or NDSL, the depository participants or DP). All you have to do is fill up a 'Delivery Instruction Slip' (DIS), which is an instruction to transfer your MF units to another demat account, and submit it to your DP. You have to provide all the relevant information including the receiver's demat account details. A transaction fee of 0.03% of the transfer value or ₹ 25 whichever is higher plus a GST of 18% is levied for transferring MF units from one demat account to another. Additionally, a stamp duty of 0.015% is applicable for all transfers. If you want to gift MF units to your minor daughter or son on her/his birthday, then you can buy units in your child's name and you can be the guardian. But once the children reach the age of 18, they will gain full control of the investments as it will officially become their money. If MF units are held in a non-demat form, they cannot be directly transferred to another person except in the case of the investor's death. Regulators have framed stringent rules as transfer of mutual funds involves changing ownership or control from one investor to another. The restrictions on transferring mutual funds have been put in place to protect investors and maintain market integrity. If free transfers are allowed, it could potentially lead to misuse, such as money laundering or tax evasion. Further, MFs are designed to be easily bought and sold in the open market negating the need for direct transfers as units can be easily sold and repurchased. In case of the primary investor's death, MF units are transferred through a process called transmission. Here is how transmission of MF units happens. If there is a co-applicant for the investment: Units are automatically transferred to the co-applicant. Without a co-applicant: MF units are transferred to the nominee or legal heir, after all relevant documents including the death certificate are submitted. You have to provide these documents and information to get the transfer done. Death certificate of the deceased KYC details of the nominee or legal heir New bank account details Indemnity bond (for large amounts) Specific requirements could vary depending on the mutual fund house and the number of unit holders. Moreover, nominating a beneficiary is now mandatory for mutual fund investments. If a nominee is not specified, investors must submit a written declaration about the same. Gifting MF units is taxable under the 'Income Tax Act'. But there are exemptions. Gifts from relatives (spouse, children and siblings) are fully exempt irrespective of the amount involved. If MF units are gifted to non-relatives and if the value of such a gift exceeds ₹ 50000, the entire amount is taxable at the hands of the receiver. If the recipient sells the gifted MF units later, it will attract capital gains tax. The cost and holding period of the donor will also be considered for capital gains tax. Any income or gains generated from MF units gifted to a minor child or spouse will be taxed in the hands of the donor. But if the gift is given to parents, adult children and siblings, then it will be taxed in their hands. Allirajan M is a journalist with over two decades of experience. He has worked with several leading media organisations in the country and has been writing on mutual funds for nearly 16 years.
Yahoo
08-05-2025
- Business
- Yahoo
CPAC wants Trump to overhaul FMCSA's waiver regime
WASHINGTON — An organization that holds significant weight with President Donald Trump is pressuring the administration to ease restrictions for approving exemptions and waivers to regulations it says disproportionately hinder small trucking companies. The Center for Regulatory Freedom (CRF), a project of the Conservative Political Action Coalition Foundation, also known as CPAC, has taken issue with the Federal Motor Carrier Safety Administration's requirement that exemption applications include a statement explaining 'how you would ensure that you could likely achieve a level of safety that is equivalent to, or greater than, the level of safety that would be obtained in the absence of the waiver.' The code of federal regulations under 49 C.F.R. §381 also states that exemption applications must also 'include a copy of all research reports, technical papers, and other publications and documents you reference.' These FMCSA waiver and exemption requirements are 'far too restrictive, requiring excessive justification and public comment periods even for minor exemptions,' CRF contends in comments filed in response to the U.S. Department Transportation's request for deregulatory recommendations.'The 'equivalent safety' standard … disproportionately disadvantages small trucking companies, as FMCSA's regulations create a presumption against providing regulatory relief. Thus, carriers are forced to prove how receiving an exemption will improve safety conditions on the road, as opposed to stating the necessity of the exemption and how it will likely not affect safety.' Smaller companies have been forced to pay additional costs to help assist in providing the additional safety information, CRF noted. Waiver requests filed by truck drivers and small carriers during the Biden administration were routinely rejected for failing to clear the 'equivalent safety' hurdle, including those seeking exemptions from hours of service and electronic logging device regulations. CRF also takes issue with FMCSA's mandatory 30-day public comment period that comes with waiver and exemption requests, arguing that delay in the application process caused by the requirement exposes drivers and carriers 'to competitor challenges and subject firms to higher relative costs due to limited administrative capacity,' the group pointed out that the extra burden FMCSA's waiver and exemption process places on truck drivers and small carriers violates Trump's Executive Order 14219, 'Ensuring Lawful Governance and Implementation of the President's 'Department of Government Efficiency' Deregulatory Agenda,' issued the day before he was sworn in on Feb. 19. The mandatory public comment period, therefore, needs to be 'modified' to comply with the order, according to the group. To further comply with the executive order, CRF recommends adding a provision to FMCSA's regulations to provide a separate exemption application category 'for relief from non-safety-critical rules and regulations, such as recordkeeping requirements or paperwork reductions,' the group stated. 'This separate category can be expanded upon by adding a provision … that describes an expedited process for applying and receiving exemptions, eliminating all safety approximations and the inclusion of additional technical reports. 'For all exemption applications, CRF recommends removing the 'equivalent safety' standard.' FMCSA considering ELD exemption from 'inactive' trucker FMCSA denies exemptions for drivers traveling with pets FMCSA denies truck driver learner's permits for 17-year-olds Click for more FreightWaves articles by John Gallagher. The post CPAC wants Trump to overhaul FMCSA's waiver regime appeared first on FreightWaves.
NDTV
05-05-2025
- Business
- NDTV
India Does Not Have The "Luxury": Think Tank Contests World Bank Views On Growth
New Delhi: India does not need to follow the traditional approach to development that ties it with per capita income, new research has suggested. It can carry on simultaneous development on all fronts, that would get it to the developed country milestone within 20 years, by 2047, the research said. In its report titled "Innovating out of the Middle-Income Trap," the Chintan Research Foundation has suggested that a linear approach need not be followed by a country like India that has a young, strong and skilled work force. A nation can advance by simultaneously investing in solid infrastructure, judiciously infusing foreign expertise (with caution), and nurturing local innovation ecosystems nations can craft a balanced development pathway, the report has suggested. The accepted model of advancement comes from last year's World Development Report from the World Bank. The report, titled "The Middle-Income Trap", suggests that middle income nations follow a linear sequence. When a country is low-income, investment in infrastructure is required. Low-middle-income nations should begin "infusion" and only when it crosses the threshold of $14,000 per capita income, it can focus on "innovating" the received technology and exporting it globally. But India, the Chintan Research Foundation report said, is in a hurry to achieve developed country status - Viksit@47 - and "does not have the luxury to follow the sequential approach to development" as suggested in the World Development Report. Viksit Bharat is not a leap of faith but a calculated extension of measurable and maintainable trends. The report said the World Bank's cautionary stance on "leapfrogging" (jumping from investment to innovation without following infusion) negates the possibility of faster progress. It reinforces the traditional (view) 'others took 20 years to this path, so you should take the same amount of time too.' The CRF said its research shows that scientific production is in progress, Indian researchers match or outpace many upper-middle-income peers and talent is flowing toward discovery rather than away from it.
Time of India
02-05-2025
- Business
- Time of India
Robust regional connectivity to boost India Middle East Europe Economic Corridor
Strengthening regional connectivity through robust rail infrastructure is essential to minimizing logistics expenses, boosting trade, and advancing collective prosperity throughout Asia including strengthening ambitious IMEC , according to experts at a recent panel discussion. #Pahalgam Terrorist Attack Pakistan reopens Attari-Wagah border to allow stranded citizens in India to return Key Jammu & Kashmir reservoirs' flushing to begin soon Air India sees Pakistan airspace ban costing it $600 mn over 12 months The panel discussion organised by Chintan Research Foundation (CRF) highlighted the importance of rail connectivity in strengthening Asian economic integration . The event brought together eminent leaders from the Railway Board — including former CEO Jaya Varma Sinha, M. Jamshed (Member Traffic), and R.N. Sunkar (Member Infrastructure) — along with senior representatives from key PSUs -- Vijoy Kumar Singh ( CONCOR ) and Manoj Shrivastav (PRCL), renowned academic Professor C. Raja Mohan, and private sector representative Prasanna Karthik (APSEZ). Together, they offered a wide range of insights into the critical role of railways in driving India's economic growth and strengthening regional integration across Asia. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 3 Reasons to Plug This Into Your Home Today elecTrick - Save upto 80% on Power Bill Learn More Shishir Priyadarshi, President, CRF underlined that robust railway infrastructure is vital for India's growth story and deeper economic integration within Asia. Echoing this, Jamshed pointed out, 'Traffic infrastructure is more important than tariff infrastructure,' re-emphasising the importance of railways for sustainable connectivity. Highlighting the role of connectivity in driving economic growth, Prof Rajamohan emphasised, 'There is a need for greater private sector participation in infrastructure development, especially in the railways, to bring in market-driven efficiency and mobilise additional resources.' Live Events Prof Rajamohan further reemphasized that India's 'Greater Vision' for 2047 needs to be more connected. Drawing from the colonial era, he highlighted that railway building is closely linked to nation-building and cited examples from the United States, China, and the USSR to demonstrate how railways played pivotal roles in regional influence. The discussion also touched upon the importance of the Trans-Asian Railway Network and the role of the India-Middle East-Europe Corridor (IMEC). The necessity of overcoming political barriers was highlighted by Jaya Verma Sinha, who stated, 'The South Asian region is known as the least connected because of artificially created barriers, so we need to defeat political barriers, especially in connecting with Bangladesh.' Sunkar said, 'There is a misunderstanding that railways are not expanding,' and highlighted ongoing improvements such as tunnelling, land processing, and increased cooperation with state governments. Bijoy Kumar Singh and P. R. Parhi emphasized the importance of integrating railways with business ecosystems. Singh stated, 'India needs a proper ecosystem to do business, marketing, and finance,' while Parhi noted that 'under GOI, private companies are extending support to countries like Bangladesh.' He also cited a World Bank study from 2022, predicting that by 2040-45, the number of vehicles on roads will increase to unsustainable levels, stressing the need for soft and road linkages. The discussion also focused on connectivity with West Asia and Southeast Asia. Highlighting IMEC's role, Col. Rajeev Agarwal said, 'IMEC represents a major step in connecting India with the Middle East and Europe. While the virtual trade corridor' deal with the UAE is advancing port readiness, seamless physical connectivity remains a challenge due to the lack of uniform rail gauges and infrastructure standardization.' He further added, 'IMEC is the first India-centric project which has multilateral leadership, unlike China's BRI.' Manoj S. traced historical precedents, stating, 'The way Chandragupta Maurya made the Chittagong to Khorasan route, and in 120 AD, Kanishka shaped the Old Silk Road, shows the importance of connectivity since ancient times.' He also highlighted the technological gaps and mismatches in rail bogies, stressing the need for harmonization and cross-border training for loco pilots. Karthik emphasized, 'IMEC cuts through one of the most volatile regions of the world; to bring down time and cost, it is imperative.' He remarked, 'Since customs and procedures need to be met, that can only be done by government authorization. Infrastructure building is in the private sector; therefore, robust rail connectivity in South Asia and IMEC will need a public-private partnership.' Jamshed concluded, 'Government needs to join hands with the private investors for railway infrastructure development. Myanmar is key to India's Southeast Asia connectivity and the materialization of the Act East Policy in the SEA region. On the other side, for IMEC to succeed, railway lines must be modernized before it takes off.' Panellists highlighted the imperative of institutional support, private sector involvement, and international cooperation in achieving this objective. The CRF Railway Conclave represents a pivotal forum for shaping the discourse on Asia's railway future and charting a course toward equitable and sustainable development.
