‘Lack of transparency in toll collection’

September 29, 2014

While many consider the concept of toll roads as undemocratic, even those who agree in principle express reservations on the way it is implemented.

The bone of contention has been the provision of an un-tolled alternate route or a service road, giving commuters a choice. However, Surendra Kumar Project Director, of the National Highway Authority of India (NHAI), Bangalore, told The Hindu that NHAI rules do not mandate providing an alternate route or service road.

Toll roads have not been popular with rural residents as well. Though rules mandate free access to them in a five km radius around the toll gate and access at concessional rate in a 20 km radius, most protests against toll collection have been supported by the locals.

V.M. Manjunath, a writer and artist who lost land when the National Highway 7 was widened, said that residents felt their freedom had been curtailed due to the International Airport and NH 7. Farmer unions have been demanding for non-collection of toll until service roads are provided.

Lack of transparency

“There is a complete lack of transparency in the process of toll collection. Information on traffic at toll plazas and toll collected everyday is not made public. The private investors should not be allowed to loot the public even after recouping their investment. The contracts are time-bound, rather than being bound by the toll amount collected,” said V. Ravichander, an urban expert.

Two recent court orders which stayed toll collection on particular stretches of highways point towards the lack of transparency in toll collection and attempts to make them accountable, activists said.

The Madras High Court recently stayed toll collection on the Vellore stretch of Chennai-Bangalore Highway as road repair work was being undertaken and the road was not in the condition that the developer had promised. The Delhi High Court had earlier in the year ordered the removal of 12 toll-plazas on Gurgaon Expressway.

Source:The Hindu

Written by ITW Editor · Filed Under About, Toll Payments

The long and short of what we know about Modi’s 100 smart cities

September 27, 2014

The laundry list of Rs 100 crore projects rattled off by finance minister Arun Jaitley during the budget speech might have surprised people, but there was one mention of 100 that was much less surprising: smart cities.

The grandiose promise of building 100 smart cities has been part of Modi’s acche din vision from the outset, and it would have been surprising if the budget had not made some mention of it.

In the event, Jaitley did promise 100 cities to be built for what the Bharatiya Janata Party is calling the neo-middle class – those who have just emerged from above the poverty line and are striving to ensure they remain there.

Less promising was the amount he allocated to the project: Rs 7,060 crore, which is a little over Rs 70 crore per city. As with the Rs 100 crore club, the finance minister has insisted that this is simply seed money to get the projects going and more will be allocated once things have moved forward.

What are smart cities?
There’s no simple definition for smart cities. The term encompasses a vision of an urban space that is ecologically friendly, technologically integrated and meticulously planned, with a particular reliance on the use of information technology to improve efficiency.

The Smart Cities Council, an industry-backed outfit that advocates the concept in India, describes them as cities that leverage data gathered from smart sensors through a smart grid to create a city that is livable, workable and sustainable.

What is smart about them?
According to the Smart Cities Council, all the data that is collected from sensors – electricity, gas, water, traffic and other government analytics – is carefully compiled and integrated into a smart grid and then fed into computers that can focus on making the city as efficient as possible.

This allows authorities to have real-time information about the city around them, and allows computers to attempt “perfect operations”, such as balancing supply and demand on electricity networks, synchronising traffic signals for peak usage, and optimising energy networks.

Why do we need them?
India’s is urbanising at an unprecedented rate, so much that estimates suggest nearly 600 million of Indians will be living in cities by 2030, up from 290 million as reported in the 2001 census.

Alongside the hordes of Indians go the jobs and the money as well: a McKinsey Global Institute study estimated that cities would generate 70% of the new jobs created by 2030, produce more than 70% of the Indian gross domestic product and drive a fourfold increase in per capita incomes across the country.

“The cost of not paying attention to India’s cities is enormous,” the MGI report said. “The speed of urbanisation poses an unprecedented managerial and policy challenge – yet India has barely engaged in a national discussion about how to handle the seismic shift in the makeup of the nation.”

Are they going to be new cities?
In his budget speech, Jaitley listed out exactly why the government believes it needs to be spending money on 100 smart cities. He claimed that “unless new cities are developed to accommodate the burgeoning number of people, the existing cities would soon become unlivable.”

That said, he also made it clear that the Rs 7,060 crore allocation would not all go into setting up brand new cities. Instead, the aim is to build satellite towns near existing urban areas on the smart city template, upgrade existing mid-sized cities, and to build settlements along industrial corridors.

Which cities have been picked out?
At the moment 100 cities remains a tentative figure, with much still to be pinned down. The budget speech only officially identified cities along the Amritsar-Kolkata Industrial Master Plan, which covers seven states. Although they weren’t named in the budget, seven cities have also been named along the Delhi-Mumbai Industrial Corridor, some which would overlap with the Amritsar-Kolkata plan.

Officially, the budget only pointed out three cities in the Chennai-Bengaluru Industrial Corridor: Ponneri in Tamil Nadu, Krishnapatnam in Andhra Pradesh and Tumkur in Karnataka.

What about those cities that don’t make the cut?
At a meeting regarding the smart cities in June, the urban development ministry secretary said that the focus will not be just 100 cities but all urban areas across the country. “There exists no valid reason to leave the 101st city in the process of development,” he said.

The secretary, Sudhir Krishna, has asked the National Institute of Urban Affairs to work on the smart city project, based on a framework that covers overall smartness and sustainability. For now, though, the focus will be on a much smaller number of cities in states where conditions are amenable before the government even attempts to look at expanding to cover 100 urban areas.

Do we have any smart cities already (and who is building them)?
A quick Google search for India’s “first smart city” produces more than 70,000 results, and many of them lead to different places. In Bangalore, Cisco is working to set up a smart grid-based Education City, where all the utilities will be integrated with data.

Outside Mumbai, the Lodha group has given IBM a contract to build all data systems in their Palava city project. Kochi has a special economic zone that seeks to replicate Dubai’s smart city project. Gujarat has two projects, the Dholera urban area, which is part of the Delhi-Mumbai industrial corridor, and the Gujarat International Finance Tec-City, both of which have problems but are being touted as examples that could be scaled up across the country.

Who will pay for them?
Rs 70 crore per city will clearly not be enough, and even if more is added, it’s unlikely the government will have the resources to pay for the cities. In the budget, the government announced that it was relaxing norms for foreign direct investment to make it easier for outside companies to invest in smart cities. In addition, India has spoken to France, Japan and Singapore about collaborating on the projects.

Source:Scroll.in

Written by ITW Editor · Filed Under About, Smart City

‘Smart homes can be as popular as smart phones in India’

September 27, 2014

The new buzz word in town is ‘Smart’, from smart homes to smart cities. Most of us have idealised this concept and while much of the Indian public is receptive to the idea, it is still an emerging concept and there are doubts amidst enthusiasm as to whether this concept is here to stay. In a conversation with Vishal Dhar, co-founder and president, marketing at iYogi, Magicbricks attempts to arrive at the feasibility of smart homes in India-

Smart Homes to capture a sizeable market share

Smart Homes are all about creating a better experience for home owners resulting in a home that’s secure, energy efficient and easier to manage. This would improve the overall quality of life. Each of these is an important issue for Indian home owners and therefore smart homes are definitely needed, and their adoption across different categories will grow. Majority (8 out of 10) of developers have expressed a keen interest in adding Smart Homes to their portfolio in the near future.

Smart Homes and pricing in the wake of Housing for All and affordability

Today, having a smart home costs between 5 and 10 per cent of the construction cost – which is what makes it prohibitive and a dream for most people. New-age technology has made it possible for smart home solutions to fit any pocket or home size. For instance today, dedicated companies can help real estate developers create a smart home for as little as 1 per cent of the total construction cost. As awareness and demand for smart homes increases, the economics will make sense and costs will come down further.

Smart homes more than just hype

The popularity of any product or category is dependent on different factors. The first is its value for target users, combined with availability and price. Today, Android and Windows phones are available across price points, leading to the huge adoption of smart phones. Not just that, it is also the interesting applications that are being developed keeping different user needs in mind. Home automation systems will pick up steam as more locally relevant applications and use cases are developed and more vendors start innovating and creating interesting products at different price points. This, along with a concerted effort to create greater awareness about the benefits of Smart Homes, will ensure that Smart Homes become as popular as smart phones at some point in the future.

India is ready for smart homes

Connected homes are no longer a futuristic concept. Cross-device compatibility, wireless connectivity, voice commands, smart monitoring are a few common features found in today’s Smart Home appliances including refrigerators, washing machines, ACs and home security systems. Technology adoption in India is growing at a fast pace and Smart Homes will not be left behind. In fact, according to the International Data Corporation, India is currently among the fastest growing smart phone markets in Asia Pacific and has seen a 31 per cent sales growth in the first quarter of 2014, even higher than China. So in a way, technological dependence is already here.

With a growing middle class, rise in disposable incomes and growth of nuclear families, Indians are willing to spend extra for safety, security, comfort and style and it is only a matter of time before home automation systems also become common.

Source:Magic Bricks

Written by ITW Editor · Filed Under About, Smart City

Toyota to Show Latest Intelligent Transport System Safety and Environmental Initiatives at World Congress in Detroit

September 27, 2014

Toyota Motor Corporation will exhibit at the 21st Intelligent Transport System (ITS) World Congress – Detroit (hosted by ITS America), to be held in Detroit, Michigan, U.S. from September 7 to 11.

Under the congress theme “Reinventing Transportation in our Connected World”, exhibitors will showcase to the world the new added-value, functions and safety that connected cars and automated driving technologies promise.

Toyota’s participation is part of its wide-ranging initiatives aimed at developing a smart mobility society that links people, cars and cities. This year, Toyota’s booth will feature its latest technologies, centered on safety and the environment.

Toyota will show a vehicle-to-infrastructure cooperative ITS aimed at creating a safe transportation reality. The system utilizes vehicle-to-vehicle and vehicle-to-infrastructure communication, automated driving technologies and advanced driving support systems based on highway driving conditions in North America. The superior environmental performance of Toyota’s fuel-cell sedan scheduled for launch in the U.S. in 2015 and a vision of new energy utilization are also key to the system concept.

The ITS World Congress is the world’s largest ITS-related international conference. Held annually in Europe, the Asia-Pacific and the Americas on a rotating basis, the congress invites ITS developers (governments, research bodies and commercial enterprises) from a wide range of countries and regions to showcase their latest ITS research findings and products through information sessions (including technical paper presentations) and exhibitions. Toyota has been an active participant since the first Congress, exhibiting research results on ITS technologies, safety- and environment-related products and services.

Overview of Toyota’s Participation in the 21st ITS World Congress

– Indoor exhibit

1. Toyota’s safety initiatives

– Display panel detailing Toyota’s many years of work on active safety technologies aimed to prevent accidents and ultimately eliminate traffic fatalities

– Information concerning an advanced driving support system borne out of Toyota’s research in automated driving technologies

2. Cooperative ITS exhibit

– Display panels and videos showing next-generation functions (such as vehicle detection, pedestrian detection and left-turn-collision prevention)

– A drive simulator enabling users to experience a vehicle-to-infrastructure cooperative application, in addition to the vehicle-to-vehicle cooperative system being tested in the U.S.

– Display of systems, including prototypes of on-board devices and wireless antenna, along with a visible-image-based vehicle sensor

3. Automated driving technologies and advanced driving support system

– Display panels and videos showing, for example, an advanced driving-support system enabling stable and smooth driving on highways in North America

– Explanation of elemental technologies developed through research in automated driving technologies

4. Fuel-cell vehicle (FCV)

– A bare chassis of the Toyota FCV Concept (displayed at the Tokyo Motor Show 2013), showing the layout of various components including the fuel cell stack and high-pressure hydrogen tank

– Display panels showing the history of Toyota’s FCV development, which spans 20 years, and images of future energy utilization in which FCVs will be connected to the electrical grid as the use of hydrogen increases.

– Information sessions

A total of eight information sessions, including the Chief Technical Officer (CTO) Summit, special sessions and technical sessions

– Outdoor demonstrations

Visitors will be able to experience advanced drive support systems on a highway.

21st ITS World Congress Website: http://itsworldcongress.org/

Visit Toyota’s official English website for the 21st ITS World Congress

(scheduled to go online on September 7).

About Toyota

<BR /><BR />Supported by people around the world, Toyota Motor Corporation TM, +0.66% has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of December 2012, Toyota conducts its business worldwide with 52 overseas manufacturing companies in 27 countries and regions. Toyota’s vehicles are sold in more than 160 countries and regions.

Source: Market watch

Written by ITW Editor · Filed Under About

20,000-km highways on PPP project underway; state roads to get facelift from October

September 27, 2014

JAIPUR: The Public Works Department (PWD) has identified 8,910-km state highways (SHs) and major district roads (MDRs) to be built under the state government’s ambitious 20,000-km road construction project. The entire project is to be completed over the next five years, involving an investment of Rs 70,000 crore on PPP mode.

Proposals for development of the SHs and MDRs to be built in phase-I with 29 packages (investors) have been finalised in consultation with the Planning Commission. In addition, the PWD would undertake construction of 3000-km roads in nearly 3,000 villages under the “Gramin Gaurav Path” Yojana under PPP mode.

“Work for building the roads would begin by November,” PWD minister Yunus Khan told reporters on Friday. “From October 1, we will also begin patchwork of roads damaged in the monsoon. Around 48,000-km broken roads would be repaired, which would cost between Rs 600 crore to Rs 1,000 crore by early next year. We have already got Rs 400 crore for it,” Khan said. Besides, the department was working on repair of 163-km stretch of the Jaipur-Delhi National Highway. “Our part of the NH repair would be completed by March 2015,” the PWD minister said.

For proper planning, monitoring and execution of the ambitious infrastructure project for the next five years, a dedicated PPP division has been set up with 34 senior engineers and officers, headed by additional chief engineer Shiv Lahari Sharma. The division, which was inaugurated by the minister on Friday, would be merged with the Rajasthan State Highway Authority created under the Rajasthan State Highway Bill, 2014, recently passed by the state assembly.

The minister attempted to dispel public apprehension about the state roads becoming a ‘web of toll taxes’ under the PPP mode. “There are 1.10 crore registered vehicles in the state, and of these, just 8 lakh (or 9%) vehicles are levied; but that too only when they move on the toll roads, which happens once or twice a month. What is the harm in paying a small amount as toll when we are getting smooth roads that reduce the travel time considerably?” Khan reasoned. The minister said the state had 1.95-lakh-km-long roads. “For maintaining them, we have two options – either tax everyone (for government funding) or tax just the commuters on particular roads (PPP mode),” Khan said.

“We want Rajasthan to emerge as a model state in road infrastructure. The way to achieve it is through PPP; there will be no looking back on the path we have taken,” the minister emphasized. He added that the state would soon come up a toll policy.

PWD principal secretary D B Gupta said of the 1.95 lakh km state roads, the department was earlier maintaining about 1.25 lakh km in cities and on the highways. “About 70 private investors have now approached the department to work on PPP mode for road construction so far,” Gupta said.

Source:Times of India

Written by ITW Editor · Filed Under About, Government (Govt)

‘Smart cities’ to be identified before Budget: Venkaiah Naidu

September 27, 2014

Union Urban Development Minister M Venkaiah Naidu addressing the National Conclave of States/UTs on Smart Cities in New Delhi on Friday.

The Centre will start identifying urban areas which can be transformed into “smart cities”, before the Budget, Union Urban Development Minister Venkaiah Naidu said here on Monday.

The government is currently holding consultations with all stakeholders including state governments, local bodies and those keen on developing smart cities.

“I have held consultation with my state counterparts and taken them into confidence. Now we are at the advance stage of finalising the contours of the smart cities and by November we expect the process to be completed…and expect to identify the cities before the Budget,” Naidu, who was in town today for the Ieema annual convention, told reporters.

Prime Minister Narendra Modi has envisaged developing 100 smart cities by 2022. The Finance Ministry has allocated Rs 7,060 crore for developing these cities as well, which will replace the present flagship urban renewal scheme JNNURM.

“I am planning to complete the process of consultation and finalisation of the contours by end of November and take them to the Expenditure Finance Committee and then to Cabinet. Then from the beginning of the year, roll out will begin,” he said.

“We plan to have at least 2-3 smart cities in each state,” he said.

Emphasising the need for taking all the stakeholders on board, he said, “You have to take the states and urban local bodies into confidence. Then you need support from different sectors and you need finances, which need a lot of consultations. We have finalised PPP model for developing smart cities.”

Naidu further said there is an increased interest from other countries to participate in this project. “I have held consultations with a lot of foreign delegations who are interested in participating in this project. Japan is keen to cooperate to transform Varanasi into a smart city. Similarly, a former Singaporean Prime Minister has also met me and expressed interest in constructing a new capital for Andhra, which I want to make into a smart city,” he said.

He said he will visit cities like Oklahoma and Seoul to understand their models.

However, he noted that creating a smart city is not an easy task. “It is not easy to construct a smart city overnight without light and basic amenities. We need to prepare habitat with a smart leadership. Further, there is a need to provide facilities for transport, water, disposal of waste, traffic security management, education, entertainment and employment opportunities, among others. All these things will take time,” he said.

“In this entire process, having 24×7 power supply will be critical. A city cannot be smart if there is no power. Therefore, there is a need to create proper transmission and distribution system to ensure uninterrupted supply of electricity,” Naidu added.

Source:Indian Express

Written by ITW Editor · Filed Under About, Indian Govt, Smart City

Infrastructure investment needs to pickup: Official

September 26, 2014

Investment in infrastructure development needs to pickup for better asset creation and delivery of projects, a senior government official said Tuesday.

According to R.P. Singh, chairman, National Highways Authority of India (NHAI): “The infrastructure situation in the country is dismal; the pace of investment is sub-optimal and unless we come out of the subsidy regime and inject substantially more funds into capital expenditure for asset creation, the situation will not look up.”

Singh who was speaking at the Federation of Indian Chambers of Commerce and Industry’s (FICCI) India Infrastructure Summit 2014, attributed the perceived failure of public private partnership (PPP) projects for developing infrastructure projects to the failure of the people who handle such projects rather than the concept.

Singh underlined the need for a rational tolling policy so that the user is not charged arbitrarily, especially where the charge is disproportionately higher in relation to the distance actually travelled.

“Much of the problem on PPP projects is caused by aggressive bidding for projects, and tendency to pass on the risk to the government when the project becomes unviable,” said Singh.

Singh’s views were corroborated by Shipping Secretary Vishwapti Trivedi who said that PPP by itself was not a bad concept.

“If you have the money go for engineering, procurement and construction (EPC) contracts or else build roads through the PPP mode”,” he said.

Recently, the government said that it will develop highways under the EPC (engineering, procurement and construction) rather than PPP mode.

The shift in policy is significant given the new government’s focus on developing infrastructure.

The EPC entails that the contractor build the project by designing, installing and procuring the necessary labour and land to construct the infrastructure, either directly or by subcontracting.

However unlike PPP, the financing is done by the government and not by banks or private equity funds through issuing of sovereign bonds or taking financial guarantees for the project.

The highway sector currently contributes around 4.5 percent to the GDP and is responsible for job creation and has a multiplier effect on the economy. However, delays due to land acquisition, forest clearances, defence land handovers have stalled progress in the sector.

This has caused build up of project non-performing assets (NPAs) worth crores of rupees where banks have participated or helped in financial closure.

Industry estimates the cost of these projects which are worth Rs.60,000 crore to have escalated further.

Source:big news network

Written by ITW Editor · Filed Under About

We want both highways and i-ways: Narendra Modi

September 26, 2014

NEW DELHI: Prime Minister Narendra Modi said the government wants both highways as well as information ways (i-ways) for a Digital India.

“We want highways. We also want i-ways for a Digital India,” Modi said during his address at the launch of his pet “Make in India” campaign.

The campaign aims to put India prominently on the global manufacturing map and, in turn, facilitate the inflow of new technology and capital, while creating millions of jobs.

Source:Economic Times

Written by ITW Editor · Filed Under About, Government (Govt)

Centre, states to track project progress via joint mechanism

September 26, 2014

In a novel exercise, the Centre and states have decided to join force to set up a mechanism to fast-track stalled infrastructure projects. The proposed ‘joint mechanism’, to be headed by Cabinet secretary Ajit Seth and comprising chief secretaries of concerned states, aims at expediting the implementation of projects that have a cumulative investment potential of nearly Rs 10 lakh crore.

To fix the responsibility for delays in various projects, Prime Minister Narendra Modi has directed the formulation of a database on major contracting firms entrusted to supply equipment and raw materials for different projects and upload their details in the procurement portals of concerned Union ministries and state-run companies.

While electronic procurement is gradually becoming the norm in most government procurement, the concerned Union ministries should focus on making the suppliers accountable for untimely delivery, the Prime Minister has said.

The government has decided that the mechanism would also be web-based for online resolution of issues. Currently no known mechanism exists to coordinate execution of projects between the Centre and the states.

On fast tracking the ongoing projects, the government has intensified the monitoring of progress, as key projects such as roads, airports and electricity generation are way behind their annual targets.

The Planning Commission, which the Prime Minister wants to be dismantled, has cautioned that while much less money is being spent for giving facelift to infrastructure development, even the pace of execution of various projects is also tardy.

Seth had already told an industry delegation in December last year that about 255 projects are stalled entailing an investment of nearly Rs 10 lakh crore, but considering that the previous UPA government was on its last leg, not much headway could be made.

The bad loans of public sector banks led to their gross non performing assets increase by nearly four times from March 2010 (Rs 59,972 crore) to March 2014 (Rs 2,04,249 crore), according to the Economic Survey of the finance ministry.

In a presentation to Modi on September 10, the Plan panel cited that the Airports Authority of India (AAI) has invested only Rs 162 crore during the April-August period against a targeted expenditure of Rs 934 crore for 2014-15.

While the AAI is yet to declare airports in Bhopal, Indore and Raipur as international airports, it has still not identified four airports to be developed along with private partnership in the first five months of 2014-15. Portraying a dismal picture for the railways, the presentation said it only 450 km of new lines were constructed in 2013-14, but has managed to construct only 39 km out of a targeted 300 km during the first five months of 2014-15. It achieved only 36 km of gauge conversion and electrified only 97 kms.

In the roads sector, construction of 1,860 kms of roads awarded against targeted 8,500 kms and 178 km of highways tolled against targeted 3,730 km. In the electricity sector, the country added capacity of 8,318.47 MW during these months as against the targeted 17,830.30 MW. Coal output was 220.52 million tonne during the period against targeted 630.25 MT.

Source:The Indian Express

Written by ITW Editor · Filed Under About, Government (Govt), Road Transport and Highways (Ministry)

Govt’s plan of limiting toll collection faces resistance

September 26, 2014

Currently, the toll rates are typically brought down to 40% of the ongoing toll rate after the end of a concession period. Photo: Mint New Delhi: Roads minister Nitin Gadkari’s promise of limiting toll collection to recover project cost is facing resistance on grounds that it will add to the fiscal burden of the government. Officials in the road ministry and National Highways Authority of India (NHAI) have pitched to make a presentation to the minister to explain why the proposal is not feasible. “We have asked the minister to let us explain why stopping toll collection after recovering the project cost may not be desirable,” said an official who did not want to be identified. “Money collected through toll after the end of the concession period is used to maintain national highway projects.

Usually these are good stretches and cost of maintenance is high and there aren’t enough funds with the government to ensure maintenance of these stretches without the toll money,” he added. Currently, the toll rates are typically brought down to 40% of the ongoing toll rate after the end of a concession period. Concession period is the duration for which a developer is given the contract for tolling a road project for recovering the cost of construction and maintaining it, and typically ranges between 20 and 30 years. “The tolling policy is very vague. It needs to be revisited for many reasons like defining what constitutes the cost of construction and why some stretches are tolled and some not,” said a second official, who too requested anonymity.

“However, the toll that is collected after the concession period is used for maintaining and cross-subsiding other national highway stretches that cannot be tolled. If this is removed where will the money for maintaining the national highway network come from?” Gadkari first spoke of stopping the collection of toll once the cost of a project is recovered in the Lok Sabha on 14 August. Addressing a conference on 100 days of the National Democratic Alliance (NDA) government on 15 September, Gadkari reiterated his keenness to go ahead with the proposal. The remarks come in the backdrop of several instances of protests against toll collection.

Road ministry officials are exploring alternative, acceptable solutions for resource mobilization that could at least address the resentment of the local residents. “One of the suggestions is to toll only the commercial traffic after the cost of the project is recovered as anyway 80% of the toll collection comes from the commercial traffic. However, all this is at an initial stage,” the first official said. The National Highways Fee (Determination of Rates and Collection) Rules formulated in 2008 are in force currently.

“The tolling strategy needs to be relooked at, keeping in mind the issue of the local users. More importantly the issue of collecting toll until perpetuity for stretches without providing an alternative free route to users who may not wish to pay also needs to be addressed,” said Pranavant, senior director at Deloitte Touche Tohmatsu India Pvt. Ltd, an audit and consulting firm. He uses a single name. The move, when first suggested, had been criticized by the industry too on grounds that it could make it difficult for the developers to access bank finance.

Source:live mint

Written by ITW Editor · Filed Under About

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