Connect with us

News

India Claims 4th Place in Global Stock Market Rankings, Surpassing Hong Kong.

Published

on

Image Source: PTI

India secured the fourth spot in global market valuation, outpacing Hong Kong with a market capitalization of $4.3 trillion on January 22, according to Bloomberg. This achievement marks another triumph in India’s ongoing bull rally since hitting a multi-year low in March 2020. Contributing to this surge are global factors, including a shift toward a China-plus supply chain strategy, favoring India as a key alternative manufacturing source.

Internationally, the prolonged post-pandemic slowdown in China, juxtaposed with India’s resilient economic performance, has prompted increased fund allocation to the Indian market by international managers. Domestically, India stands out as one of the world’s fastest-growing major economies, driven by robust tax collections, controlled inflation, strong corporate earnings, and a stable currency.

The stark performance contrast between India and Hong Kong is evident, with India’s benchmark Sensex surging two-and-a-half times since March 2020, while Hong Kong’s Hang Seng index has seen a 33% decline. This exceptional outperformance, coupled with the listing of various companies, has propelled India to surpass Hong Kong in market capitalization.

Suman Bannerjee, CIO at Hedonova, sees India’s rise as a milestone, underscoring the nation’s economic resilience. He emphasizes that this achievement not only signifies numerical triumph but also positions India as a key player in the global financial arena, reflecting the country’s economic fortitude and promising prospects for investors navigating the vibrant Indian stock market landscape.

News

Pink Smart Cards Ignored by Most Women in Delhi — Govt May Make Them Compulsory

Published

on

Even after more than 5.5 lakh Pink Saheli Smart Cards have been given to women in Delhi, only a small number are using them for free bus travel. As per official data, only about 5–6% of women passengers — around 6,000 to 8,000 — are using these cards right now.

The Pink Saheli Smart Card was launched on March 2 by Droupadi Murmu. The aim was to replace the old pink ticket system with a smart card system under the ‘One Nation, One Card’ plan. This also helps make sure that only women aged 12 and above who live in Delhi can get free travel.

After the launch, Chief Minister Rekha Gupta had said that pink tickets would still be allowed for three months. But officials say most women are still using pink tickets instead of the new card.

Every day, around 23 lakh people travel by bus in Delhi. Out of this, about 6 to 7 lakh are women. Still, many of them have not started using the smart card.

Officials are now planning a survey to find out why the card is not being used much. They want to check if women do not have the card, if some are from outside Delhi, or if bus staff are not asking passengers to use it.

The Delhi Transport Corporation is also planning surprise checks in buses. These checks will see if women are not tapping the card or if conductors are still giving pink tickets.

A senior official said that the government plans to make the smart card the only way to travel free in buses. This rule may start from July. Before that, awareness drives will be done in buses to tell people about the card.

The free bus travel scheme for women started in 2019 under the earlier AAP government. Since then, more than 150 crore pink tickets have been used.

For the year 2026–27, the government has kept ?450 crore for this scheme. Right now, the cards are being made at 58 centres across the city.

Women aged 12 and above can apply for the card using their Delhi Aadhaar and a mobile number linked to it.

Earlier, the Chief Minister also said that DTC has faced a loss of around ?14,000 crore and that the government plans to make the ticket system fully digital.

Continue Reading

News

Minimum E-Rickshaw Fare in Delhi Could Go Up to Rs 20

Published

on

People who travel by e-rickshaw in Delhi may soon have to pay more. A group of electric vehicle operators has decided to raise the starting fare to Rs 20. This step has been taken because prices of fuel, parts, and daily needs have gone up, while e-rickshaw fares have stayed the same for many years.

Anuj Sharma, head of the e-rickshaw group, said these vehicles have been running in Delhi since 2010. In all these years, their fares did not change. At the same time, auto and taxi fares were raised more than once. He said the new fare may start from next month.

The decision came after a meeting between drivers, sellers, makers, and Delhi Transport Minister Pankaj Kumar Singh.

At present, Delhi has more than 2 lakh registered e-rickshaws. Around 1.5 lakh more are running without full registration. These vehicles help people travel short distances, mainly in areas where buses or metros are not easy to reach.

Right now, many drivers charge about Rs 10 for the first 2 km, and Rs 5 for each extra km. With the new plan, the base fare will go up.

In another step, the transport department has taken back a 2022 rule. That rule allowed companies to register many e-rickshaws in their name. Now, the aim is to keep the vehicles in the hands of drivers instead of big firms.

Minister Pankaj Kumar Singh said this move will help drivers earn better and stop control by a few big players. He added that this step will support small drivers and help them run their own work.

He also said this change will help more people in Delhi get a fair chance to own and run e-rickshaws, which are an important part of daily travel in the city.

Continue Reading

News

‘No PUC, No Fuel’ Rule Is Now Permanent — What It Means

Published

on

Delhi has made the ‘No PUC, No Fuel’ rule a fixed rule to control air pollution. This step is taken to stop vehicles without a valid Pollution Under Control (PUC) certificate from getting fuel. Vehicle smoke is one of the main reasons for dirty air in the city, especially in winter.

Under this rule, if a vehicle does not have a valid PUC certificate, petrol pumps will refuse to fill fuel. Earlier, this rule was tested in some phases, but now it has become a regular system.

What Is ‘No PUC, No Fuel’?

This rule links fuel with pollution check. When a vehicle reaches a petrol pump, its PUC status is checked through a digital system. Staff will refuse fuel if the certificate is not there or has expired until it is renewed.

The system is connected to online data so there is less scope for checking manually.

Why Has This Rule Been Made Permanent In Delhi?

Delhi has a very serious problem of air pollution. Old and poorly maintained vehicles create more smoke and harm the air. With this rule, the government wants to:

Make people keep their vehicles in good condition
Reduce use of vehicles that create too much smoke
Improve air quality in the city
Make checking regular instead of doing it once in a while

This step helps keep control on pollution all year.

Who Will Be Affected?

This rule applies to all fuel-based vehicles in Delhi, such as:

  • Private cars and bikes
  • Commercial vehicles
  • Old vehicles close to their limit

Vehicles with a valid PUC certificate will not face any problem at petrol pumps.

How to Avoid Problems at Petrol Pumps

To avoid trouble, vehicle owners should:

Check their PUC date on time
Renew it before it expires
Keep a soft copy or print copy
Keep the vehicle in good condition

Getting a PUC certificate is quick and low-cost, so it is easy for most people to follow this rule.

Continue Reading

Newsletters

Enter your email address to get latest updates

Advertisement

Trending

Copyright © 2018 - 2022 Delhi Wire.