Latest news with #Rs7
Business Recorder
13 hours ago
- Business
- Business Recorder
Flat generation; rising pressures
Power generation for FY25 has closed at 122.96 billion units, effectively flat year-on-year with a negligible 0.06 percent dip. But scratch the surface, and the stagnation tells a deeper story. This marks the lowest annual generation in five years, still 11 percent shy of the FY22 peak of 139 billion units. Even the modest 1.8 percent year-on-year growth in June 2025 hardly impresses—it remains below FY21 levels and barely edges past the pandemic-struck June 2020. All this has happened despite a sharp rise in installed capacity. Back in FY20, the capacity component of the Power Purchase Price (PPP) for nearly the same number of units cost Rs794 billion—Rs7 per unit. Fast forward to FY25, and the capacity bill for the same output has ballooned to Rs17.5 per unit, with the official reference assuming Rs15.9 for a hefty Rs2.1 trillion bill for capacity charges. A 6 percent shortfall from reference generation means additional fiscal burden—an outcome the system can scarcely afford. Fortunately, the fuel component of the PPP offered some relief, with international commodity prices and the PKR largely stable through FY25. But that alone won't bail out the system. What's more troubling is that the dip in grid generation doesn't reflect a proportional fall in national demand. Rooftop solar continues to pull demand off the grid, a trend flagged repeatedly in thisspace. At the same time, industrial users' reliance on captive power has kept grid demand suppressed. The recent shift in policy to push industries back to the grid will reclaim some of that lost demand—but not all. The household and commercial segment, especially those milking the overly generous net metering regime, will continue to shrink grid reliance. Reports suggest the Prime Minister has again blocked reforms to rationalize solar payback—the third such intervention in under a year. While solar remains viable (and should), the current net metering policy desperately needs fairness and balance to avoid systemic distortions. Finally, don't expect GDP to come to the rescue. Pakistan's near-term growth outlook remains muted—meaning organic demand revival will be slow. Tariff reliefs and subsidy-led pushes may offer short-term support, but the real test lies in restoring grid demand at affordable rates. Without that, the system's structural imbalances will persist. Copyright Business Recorder, 2025
Hans India
a day ago
- Business
- Hans India
LIC Signs MoU to expand women-only insurance scheme in rural India
Hyderabad: The Life Insurance Corporation of India (LIC) has signed a Memorandum of Understanding (MoU) with the Department of Rural Development, under the Ministry of Rural Development, to expand the reach of its women-centric Bima Sakhi Yojana across rural India. The agreement was formalized during the National Conclave on Financial Inclusion, 'Anubhuti,' held from July 8 to 10 in Goa. The Bima Sakhi Yojana aims to empower rural women by offering them a career in insurance distribution through a performance-based, stipendiary LIC agency program. Designed exclusively for women, the scheme ensures that Bima Sakhi agents receive all standard LIC agent benefits, along with additional financial support during the initial years. Participants in the scheme are eligible to receive monthly stipends of Rs7,000 in the first year, Rs6,000 in the second, and Rs5,000 in the third year of their agency tenure, subject to specified conditions.
Malaysia Sun
3 days ago
- Business
- Malaysia Sun
Seven new bypass roads proposed across Tripura to boost connectivity: CM Manik Saha
Agartala (Tripura) [India], July 20 (ANI): In a major push towards infrastructure development, Tripura Chief Minister Manik Saha announced that seven new bypass roads have been proposed across the state to ease traffic and enhance connectivity. CM Saha reiterated the government's commitment on Saturday to linking all district and subdivision headquarters, as well as unconnected habitations, to national highways via double-lane roads. CM Saha made these remarks while addressing the National Seminar on Infrastructure Development in the North-East Region of India, held at Pragna Bhavan, Agartala. He highlighted the government's long-term infrastructure vision, asserting that robust infrastructure is the backbone of economic growth and regional empowerment. 'Without infrastructure, nothing can be achieved. Roads, highways, airports, water supply, and urban infrastructure play a key role in industrial growth, service expansion, and social welfare,' the Chief Minister said. He emphasised that the state has undertaken numerous transformative initiatives in the past seven years that have significantly improved its socio-economic landscape. Saha revealed that a 449 km ring road has been proposed for Agartala under the Bharatmala scheme. The alignment includes the Agartala Bypass from Khayerpur to Amtali, an Eastern Bypass from Lembuchara to Khayerpur, and a Western Bypass connecting Lembuchara to Amtali. Flyover construction is also on the cards, with the Radhanagar to IGM Hospital flyover to be undertaken in the first phase. The seven new bypass roads are proposed at Kumargarh, Dhanpur, Manu, Ambassa, Teliamura, Ranirbazar, and Jirania, all key towns where national highways currently run through congested areas. 'In the previous budget, over Rs7,000 crore was allocated specifically for infrastructure development,' he added. Tripura CM provided detailed statistics on Tripura's existing road infrastructure, stating that the total Public Works Department (PWD) road length in the state is 10,618.423 kilometres. This includes 1,057 kilometres of state highways, 171 kilometres of major district roads, 483 kilometres of other district roads, 1,167 kilometres of urban roads, and 7,740 kilometres of village roads. The national highway network in the state spans 923 kilometres, out of which 509 kilometres have already been upgraded to double-lane roads with paved shoulders. Additionally, four more national highways covering a total distance of 229 kilometres have been declared in principle. Plans are in place to upgrade the entire 1,057 km of state highways to double-lane roads, he added. Highlighting Tripura's strategic importance, CM Saha said, 'The northeastern region is India's powerhouse with massive hydropower, petroleum, and gas potential. Tripura, sharing borders with Bangladesh, can serve as a vital gateway to Southeast Asia.' He also mentioned the nearing completion of the Light House Project, and construction of the Unity Mall and several high-rise departmental buildings, aimed at modernising Tripura's urban landscape. The event was attended by several dignitaries, including Engineer Chinmay Debnath, Engineer O.P. Goel, Indian Building Congress President Engineer Rajiv Dabbrama, PWD Chief Engineer Engineer Shyamlal Bhowmik, and other senior officials and stakeholders in the infrastructure sector. (ANI)
Hans India
5 days ago
- Business
- Hans India
Adani Ent sells 20% in AWL Agri for Rs 7,150 cr
Ahmedabad: Adani Enterprises Ltd (AEL) said on Thursday that it has signed an agreement to sell a 20 per cent stake in AWL Agri Business Ltd to Wilmar International's subsidiary, LencePte Ltd, for Rs275 per share, valuing the deal at Rs7,150 crore. Following this latest deal, Wilmar is set to become the majority shareholder, with a 64 per cent holding in Commodities LLP (ACL), a subsidiary of AEL, currently holds 30.42 per cent of AWL. The sale marks the next step in Adani's planned divestment of its entire 44 per cent stake in AWL and eventual exit from the FMCG joint venture. In December 2024, Adani Commodities LLP (ACL) and LencePte Ltd, a subsidiary of Wilmar International, Singapore, had entered into an agreement. They gave each other the option to buy or sell AEL/ACL's shares in AWL (Adani Wilmar Limited) later, at a price they both agree on, but not more than Rs305 per share. The two together held 88 per cent in the company (44% each). In January 2025, AEL/ACL sold 13.5 per cent of its shareholding in AWL at Rs276.51 per share, raising Rs4,855 crore. This was done so that more of the company's shares are owned by the public, as required by minimum public shareholding requirements. After this sale, ACL/AEL owned about 30.42 per cent of AWL. Of this 30.42 per cent, between 11 per cent and 20 per cent will now be sold to Lence, and the balance will be offered to strategic partners and investors brought in by Wilmar. The remaining 10.42 per cent stake currently held by Adani Commodities will be sold to pre-identified investors before the transaction with Lence is completed. After all transactions are closed, Adani Commodities will fully exit AWL, which will no longer be an associate company of Adani Enterprises. AWLs stock was trading at Rs277.7 apiece on Thursday, up by Rs15.2 or 5.7 per cent. Meanwhile, AWL Agri Business reported its highest-ever Q1 revenue at Rs17,059 crore for FY26, up 21 per cent from the same quarter last fiscal. The growth was mainly driven by its edible oil business, which grew 26 per cent year-on-year. This segment contributed Rs13,415 crore, making up 78.6 per cent of total revenue and 61 per cent of the overall volume mix.
Time of India
6 days ago
- Business
- Time of India
Insurtech funding set to top $1 billion in 12 months
Private funding in the insurance technology or Insurtech sector is forecast to exceed $1 billion in the next 12 months after past few years of moderation, said a report released at India Insurtech Summit 2025 on Thursday. The funding for 2024 stood moderated to $239 million from $497 million a year ago. Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Others Operations Management PGDM Leadership Healthcare Design Thinking healthcare MBA Product Management Public Policy Management Cybersecurity Degree Finance others Project Management Data Science MCA Data Analytics CXO Digital Marketing Technology Data Science Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details After peaking at $820 million in 2021 on the back of aggressive expansion and strong investor enthusiasm, the funding has moderated. This is because the sector transitioned to a quality-focused growth and as global economic factors encouraged more disciplined capital allocation, according to a report jointly prepared by Perfios, a global B2B software-as-a-service company working in the BFSI sector and fintech and advisory firm The Digital Fifth. 'There is currently a clear gap in funding for tech stack companies and claims solutions — areas that are essential for driving efficiency and enhancing customer experience, and which should see significant growth in the coming years,' said the report. The report also said that India's insurance penetration , which had got a boost from the COVID pandemic, declined below 4% mainly because of drop in uptake of life insurance, according to the report. Insurance penetration fell to 3.7% in FY24, after staying above 4% for preceding three fiscals. The number for the life insurance segment fell to 2.7% in FY24 from 3% a year ago, while it remained 1% for the non-life segment. This signals an enormous protection gap, especially in health, life, and micro-insurance categories, the report said. While penetration declined, insurance density improved slightly, with per capita premium rising from Rs7,847 in 2022 to Rs8,103 in 2023, led by the non-life segment, said the report. The report said that a slew of regulatory initiatives like National Health Claims Exchange (NHCX) and the upcoming Bima Sugam platform are laying robust digital rails for insurance innovation. In addition, the Digital Personal Data Protection Act (DPDPA) is expected to enhance customer data and consent-based experiences.
