Talgo high-speed trains for Indian Railways’ Delhi-Mumbai route: 7 things to know 05-25

Talgo high-speed trains for Indian Railways’ Delhi-Mumbai route: 7 things to know

Hold your horses, passenger! We may soon get to enjoy the luxury of Spanish coaches on the Rajdhani and Shatabdi express trains.

Indian Railways is all set to experiment with high speed Talgo trains which, if successful, will lead to the replacement of the existing LHB coaches with these fancy Spanish beauties.

The first Talgo train trail run is expected to head from Mumbai to Delhi. If all goes well with it, following gauging results, Talgo trains will be rolled out on the other routes.

What is Talgo?

Talgo is one of the leading companies in the Spanish railway sector. It started out in May 1941, and has now has businesses almost all around the world. Talgo's headquarters lie in Madrid, Spain.
Here's all you need to know about the Talgo trains that we are about to welcome on our railway tracks:

1. A Talgo 250 can run at the speed of 250 kmph. However, trials in India will only be conducted at 150-160 kmph.

2. Its lighter trains can cut travel time by 30 per cent. In fact, Talgo trains are expected to cover the Mumbai-Delhi stretch by 12 hours, unlike the Rajdhani which takes 17 hours.

3. Talgo train coaches would save up to Rs 1 crore as compared to the LHB coaches used in Rajdhani and Shatabdi trains. They are also said to require "less maintainance".

4. Unlike that for Japanese bullet trains, no major overhauling of tracks is said to be required for running Talgo trains in India.

5. Amenities like footrests, reading lights, tables, audio entertainment control, etc. are provided for every individual seat. The trains also come with monitors for video entertainment.

6. Talgo trains have the technology to keep interiors pleasant even when the temperature outside crosses 50 degree Celsius or drops below -20 degree Celsius.

7. Talgo's official website also promises shower units, in-house restaurant and a cafeteria car for pasenger coaches.

8. Talgo trains' can also reduce Railways' energy bill by 30 per cent, as its "reduced weight and inalterability against atmospheric agents is translated into lower energy consumption".


9. Talgo 250 was the first high speed train to run in Central Asia. In Uzbekistan, it runs on a daily basis.

10. Pretty and efficient, yes, but these fancy Talgo trains will make train travel more expensive than it is now.


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India’s ‘first solar-powered train’: 05-25

India’s ‘first solar-powered train’

Last year, Northern Railways had fitted one coach of the Rewari-Sitapur broad gauge passenger train with solar panels. (Northern Railways image)

With Indian Railways aggressively focusing on renewable energy, India’s first solar panel-fitted train is all set to commence trial runs shortly. What makes this trial run special is that all coaches of the train would be lit from power generated by the rooftop solar panels.

Last year, Northern Railways had fitted one coach of the Rewari-Sitapur broad gauge passenger train with solar panels. However, this would be the first DEMU (Diesel Electric Multiple Unit) broad gauge train, in which all coaches have solar panels, says Railways.

The solar-panel powered train will be tested on the Jodhpur division of the North Western Railways. The DEMU train which is being used for the trial run has eight coaches, with each coach fitted with twelve solar panels.

The DEMU solar-powered train which is being used for the trial run has eight coaches, with each coach fitted with twelve solar panels. (NW Railways image)

Each solar panel will generate 300 watt of electricity, which means 3.6KW of power per coach. This, the Indian Railways says will be enough to provide electricity for lights and fans inside the coach. However, enough power would not be generated to run air-conditioners.  (Don’t miss out! Stunning images of Talgo high-speed trains for Delhi-Mumbai route)

Is Railways planning to run ACs on solar power in future? That remains to be seen, says Tarun Jain, the Chief Public Relations Officer of North Western Railways. “We will begin trials of this solar-panel fitted train shortly. We are awaiting some final clearances. After intensive trials, we will be able to gauge the performance of the solar panels. Only then any decision on scaling up the scope of the solar panels can be taken,” Jain told FE Online.

The solar train is not the only green initiative taken by the Indian Railways. Last year, Indian Railways had introduced India’s first CNG DEMU train on the Rewari-Rohtak section of Northern Railways. The DEMU train runs on dual fuel system – CNG and diesel. Railways have modified the 1,400 HP engine to run on dual fuel – diesel and CNG – through fumigation technology.

India’s first CNG DEMU train. (Northern Railways image)

The train comprising of two power cars and six car coaches has been manufactured by Integral Coach Factory at Chennai with the CNG conversion kit being supplied by Cummins.

Solar power plant at Katra station. (Northern Railways image)

Also, a 1 megawatt solar power plant was set up at Katra station in 2015, a move that can save up to Rs 1 crore annually on energy bills. This is the biggest rooftop solar plant built in Jammu and Kashmir and the largest solar power plant built by Indian Railways.



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Top of the Unicorn Club: these are the 10 most valuable private companies 5-25

Top of the Unicorn Club: these are the 10 most valuable private companies

Image credit : Shyam's Imagination Library

There are some businesses around the world which expand at a dizzying rate. These companies have achieved "hypergrowth", doubling their revenues in less than two years.

In the past few years, the number of companies that have mastered hypergrowth has increased. This is mainly due to the digital transformation of economies, more accessible (and cheaper) capital, and the emergence of new global markets such as the Asian middle class, according to a study from the World Economic Forum, 'Mastering Hypergrowth'.

While companies from a range of sectors are experiencing hypergrowth, unsurprisingly, technology start-ups provide prominent examples of the trend. One example is Finnish mobile games developer Supercell, which recorded a $2.3bn revenue in 2015, just three years after launching its first product.

If a start-up grows quickly enough, it might turn into that mythical and elusive creature: the unicorn, a private company valued at $1 billion or more. There are currently 174 companies on Fortune's Unicorn list, and below are the 10 highest-valued private companies. 


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Trump willing to meet N.Korea's Kim, wants to renegotiate Paris climate accord 05-18

Trump willing to meet N.Korea's Kim, wants to renegotiate Paris climate accord

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Republican presidential candidate Donald Trump said on Tuesday he is willing to talk to North

Korean leader Kim Jong Un to try to stop Pyongyang's nuclear program, proposing a major shift in U.S. policy toward the isolated nation.

In a wide-ranging interview with Reuters, Trump also said he disapproved of Russian President Vladimir Putin's actions in eastern Ukraine, called for a renegotiation of the Paris climate accord, and said he would dismantle most of the Dodd-Frank financial regulations if he is elected president.

The presumptive Republican nominee declined to share details of his plans to deal with North Korea, but said he was open to a face-to-face meeting with its leader.

"I would speak to him, I would have no problem speaking to him," Trump said of Kim.

North Korea's mission to the United Nations did not immediately respond to a request for comment on Trump's remarks.

Trump also said he would press China, Pyongyang's only major diplomatic and economic supporter, to help find a solution.

"I would put a lot of pressure on China because economically we have tremendous power over China," he said in the half-hour interview at his Trump Tower office in Manhattan.

Trump's preparedness to meet Kim contrasts with President Barack Obama's policy of relying on senior U.S. officials to talk to senior North Korean officials. Obama has not engaged personally with Kim.

CLIMATE ACCORD

The New York billionaire said he is "not a big fan" of the Paris climate accord, which prescribes reductions in carbon emissions by more than 170 countries, and would want to renegotiate it because it gives favorable treatment to countries like China.

A renegotiation of the pact would be a major setback for what was hailed as the first truly global climate accord, committing both rich and poor nations to reining in the rise in greenhouse gas emissions blamed for warming the planet.

On Russia, Trump tempered past praise of Putin, saying the nice comments the Russian leader has made about him in the past would only go so far.

"The fact that he said good things about me doesn't mean that it's going to help him in a negotiation. It won't help him at all," he said.

Turning to the economy, Trump said he planned to release a detailed policy platform in two weeks that would propose dismantling nearly all of Dodd-Frank, a package of financial reforms put in place after the 2007-2009 financial crisis.

"Dodd-Frank is a very negative force, which has developed a very bad name," Trump said.

FINANCIAL BUBBLE?

Trump said he perceived a dangerous financial bubble within the tech startup industry. He said tech companies were attaining high valuations without ever making money.

On the U.S. Federal Reserve, Trump said that while he eventually wants a Republican to head it, he is "not an enemy" of current chair Janet Yellen, who was appointed by Obama.

"I'm not a person that thinks Janet Yellen is doing a bad job. I happen to be a low-interest rate person unless inflation rears its ugly head, which can happen at some point," he said, adding that inflation "doesn't seem like it's happening any time soon."

Trump said he would maintain the current level of benefits for Social Security recipients, a position championed by former Republican presidential candidate Mike Huckabee. He said he would not raise the retirement age or impose a sliding scale of benefits depending on income levels.

He said the depleted Social Security Trust Fund would be replenished by the increased tax revenue that would flow into the government from the higher job growth spurred by his economic policies.

(Reporting by Steve Holland and Emily Flitter, additional reporting by Alana Wise; Editing by Paul Thomasch and Ross Colvin)

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Realizing gender equality’s $12 trillion economic opportunity 05-18

Realizing gender equality’s $12 trillion economic opportunity


Investing in access to essential services and reducing the gap in labor-force participation rates could significantly expand the global economy by 2025.


In 2015, the McKinsey Global Institute published The power of parity: How advancing women’s equality can add $12 trillion to global growth. This report, which focused on the enormous potential associated with narrowing the gender gap, found that if every country did so at the same historical rate as the fastest-improving country in its regional peer group, the world could add $12 trillion to annual gross domestic product in 2025. That’s some 11 percent higher than it would be under the business-as-usual scenario.

So what will it actually take to turn this potential into reality? Our new discussion paper, Delivering the power of parity: Toward a more gender-equal society, provides an agenda for action and investment, quantifying the progress needed on 15 gender-inequality indicators. It finds that while much of the $12 trillion opportunity comes from advancing gender equality in the world of work, progress there is closely tied to tackling gender gaps in society more broadly. In particular, improved access to services in six areas could unlock economic opportunities for women: education, family planning, maternal health, financial inclusion, digital inclusion, and assistance with unpaid care.

Addressing these areas would require incremental annual expenditures of $1.5 trillion to $2 trillion in 2025—20 to 30 percentmore than would ordinarily be spent given the current trajectories of rising population and GDP (exhibit). But the results would empower millions of women and men alike, delivering economic benefits that are six to eight times higher than the social spending estimated.

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World Bank Funding For India’s Rooftop Solar Mission 05-18

World Bank Funding For India’s Rooftop Solar Mission

   

India’s solar ambitions have received a major boost with the World Bank approving a US $625 million loan to support the installation of rooftop solar power systems across the country.
The Government of India’s National Solar Mission has set a goal of installing 100 GW of solar capacity by 2022, 40 GW of which is designated for rooftop solar.

The World Bank loan is aimed at financing at least 400 MW of new Grid Connected Rooftop Solar Photovoltaic (GRPV), buttressed by a co-financing loan of US $120 million and a US $5 million grant from the Climate Investment Fund, to help the Indian market overcome teething problems which have hampered uptake in rooftop solar.

Despite an estimated potential of 124,000 MW, rooftop solar in India has been sadly neglected in favour of larger scale solar plants. Energy consultancy firm Bridge to India’s latest Solar Handbook (PDF) says the 40 GW target for 2022 seems “a very remote prospect” without more focused policy support and an effective net metering program from government.

India remains a heavy coal-consuming nation, but is one of the lowest per capita consumers of energy on the world; with over 200 million people living off-grid. According to the World Bank, power shortages force manufacturers and industrial users to rely on expensive and polluting diesel-based back-up power supplies.

“India is endowed with huge solar energy potential, and the World Bank is strongly supportive of the government’s plans to harness this potential and increase India’s solar PV capacity to 100 GW,” said Onno Ruhl, World Bank Country Director in India.

“This project will support this target, by providing financing to some of the 40 GW of solar PV which will be placed on rooftops.”

In January this year, as the country announced it had reached an overall solar capacity of 5.6 percent, the Indian Cabinet Committee on Economic Affairs increased the budget for GRPV programs by more than 8-fold, in an effort to install 4200 MW of rooftop solar power systems throughout the country out to 2019-20.

The World Bank project will be implemented by the State Bank of India (SBI), and will support a range of rooftop solar options; including commercial and industrial PV systems. With many citizens unable to afford upfront ownership of systems, the SBI Rooftop PV Program will include third-party ownership, leasing, rooftop rental, as well as direct end-user ownership.

“Today, the only available option for those who want to install solar PV is to pay the entire cost up-front. The variety of financing mechanisms on offer under this program will represent a major innovation for the rooftop market,” said Mohua Mukherjee, Senior Energy Specialist and World Bank’s Task Team Leader for the project.

“Most importantly, the scope of the project will go beyond simply making finance available, it will also improve the investment climate for solar PV, and increase the `Ease of Doing Rooftop Business”.

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Are economic statistics in danger of becoming irrelevant? 05-16

Are economic statistics in danger of becoming irrelevant?

Reliable economic statistics are a vital public good. They are essential to effective policymaking, business planning, and the electorate’s ability to hold decision-makers to account.

And yet the methods we use to measure our economies are becoming increasingly out of date. The statistical conventions on which we base our estimates were adopted a half-century ago, at a time when the economy was producing relatively similar physical goods. Today’s economy is radically different and changing rapidly – the result of technological innovation, the rising value of intangible, knowledge-based assets, and the internationalization of economic activity.

In light of these challenges, UK Chancellor of the Exchequer George Osborne asked me ten months ago to assess the United Kingdom’s current and future statistical needs. While my research focused on the UK, the challenges of producing relevant, high-quality economic statistics are the same in many countries.

Recent technological advances have radically altered the way people conduct their lives, both at work and at play. The advances in computing power underpinning the digital revolution have led not only to rapid quality improvements and product innovation, but also to new, connectivity-driven ways of exchanging and providing services.

One particular challenge for economic measurement stems from the fact that an increasing share of consumption comprises digital products delivered at a zero price or funded through alternative means, such as advertising. While free virtual goods clearly have value to consumers, they are entirely excluded from GDP, in accordance with internationally accepted statistical standards. As a result, our measurements may not be capturing a growing share of economic activity.

Consider the music industry. Downloads and streaming services have now largely replaced CDs, the dominant medium in the 1990s. And yet the money has not followed; the industry’s revenues and margins have both plummeted. As a result, its contribution to GDP (as we currently measure it) may be falling, even as the quantity and quality of services are increasing.

Two methods can give us a rough estimate how much digital economic activity we are failing to capture in our measurements. We can use average wages to estimate the value of the time people spend online using free digital products, or we can adjust telecommunication services output to account for the rapid growth in Internet traffic. Both approaches suggest that accounting for these types of activities could add between one-third and two-thirds of a percentage point to the average annual growth rate of the UK economy over the past decade.

The digital revolution is also disrupting traditional business models. The reduced search and matching costs offered by a range of online platforms are unlocking the market for skills (known as the “gig economy”) and the market for underutilized assets (known as the “sharing economy”). This, too, causes conceptual and practical measurement challenges for established GDP calculus. The traditional statistical distinction between productive firms and consuming households leaves little room to account for households as value creators.

Measuring GDP, it turns out, is like trying to hit a moving target. The digital revolution is likely to be followed by yet another wave of disruptive technology, including advances in materials science, artificial intelligence, and genetic engineering. As the economy evolves, so must the frame of reference for the statistics we use to measure it.

Consequently, internationally agreed statistical standards will almost always be somewhat out of date or incomplete, as they are bound to lag behind changes in the economy. National statistical offices should explore measurement issues that go beyond the prevailing standards, rather than use compliance as an excuse for their failure to innovate.

One solution would be to establish a continuing program of research into the measurement implications of emerging economic trends, conducting one-off studies at first to gauge their potential quantitative importance. This could then guide the development of experimental statistics capturing the new phenomena.

New techniques of collecting and analyzing big data, such as web scraping, text-mining, and machine learning, provide an opportunity for statisticians. Governments already hold some administrative data, but their use for statistical purposes often requires legislative changes. Unlocking this trove of information would extend statistical samples to near-census size, increase their timeliness and accuracy, and reduce the respondent costs to businesses and households.

Ensuring that data accurately reflect a changing economy is one of the hardest tasks faced by national statistical institutes worldwide. Success requires not only understanding the limitations of traditional measurements, but also developing a curious and self-critical workforce that can collaborate with partners in academia, industry, the public sector, and other national statistical institutes to develop more appropriate methods.

The UK is by no means alone in facing these challenges. But we need to act quickly. Otherwise, the speed of economic change will render our statistics irrelevant to modern life.

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