T.N. CM Stalin flags off 120 new low-floor electric buses in Chennai
The Chief Minister also inaugurated the MTC's upgraded electric bus depot at Vyasarpadi at a cost of ₹47.50 crore. The 120 new e-buses are worth ₹207.90 crore.
The initiative was taken up under the Chennai City Partnership Programme, Chennai Sustainable Urban Services Programme, with support from the World Bank and Asian Infrastructure Investment Bank.
Additional Chief Secretary (Transport) K. Phanindra Reddy said in a bid to reduce environmental pollution in Chennai, the MTC, in the first phase, will roll out 625 new low-floor electric buses at a total cost of ₹697 crore. On average, each bus that runs on diesel emits 755 grams of carbon dioxide (CO2) for a kilometre. Electric buses would help in reducing CO2 emissions and improve the quality of air to a large extent, he said at an event held at the Vyasarpadi depot.
Measures were being taken to operate these new electric buses from depots at Vyasarpadi, Perumbakkam, Poonamallee, Central, and Tondiarpet 1, he said. Work to establish infrastructure, including for charging, has been taken up at the depots. In the first phase, the required infrastructure to maintain and operate 120 buses from the Vyasarpadi depot was taken up.
Special features
He said one of the special features of these buses is that when charged one-time, it can travel for 200 kilometres.
The buses are wheelchair accessible, with a ramp and secure anchorage points. Each bus is equipped with CCTV cameras, mobile phone charging points, and emergency alarms.
The 120 buses, which were flagged off, will be operated on 11 routes. This includes 20 buses from Broadway to Kalaignar Centenary Bus Terminus (KCBT)-Kilambakkam terminus (route number 18A), 20 buses from Mahakavi Bharathiyar Nagar to KCBT-Kilambakkam bus terminus (170TX), 10 buses from Vallalar Nagar to Poonamallee (37), 10 buses from Mahakavi Bharathiyar Nagar to Koyambedu (46G) and 10 from Perambur to Manali (164E). Other routes included round trip to Kaviarasu Kannadhasan Nagar and from Thiru vi ka Nagar to Guindy Thiru vi ka Industrial Estate.
Transport Minister S.S. Sivasankar, Hindu Religious and Charitable Endowments Minister P.K. Sekarbabu, and officials participated.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
9 hours ago
- Hans India
Remittances by Indians working abroad clock record $135 bn
Mumbai: The remittances sent back home by Indians working abroad have registered a 14 per cent rise in the financial year 2024-25 to a record $135.46 billion, according to data compiled by the RBI. The RBI said the inflows, classified under 'private transfers', accounted for more than 10 per cent of India's gross current account flows of $1 trillion in FY25. Personal transfer receipts, mainly representing remittances by Indians employed overseas, rose to $33.9 billion in the January-March quarter of 2024-25 from $31.3 billion in the same quarter of the previous year, RBI data shows. Indians working abroad sent home a record $129.4 billion in 2024, with the highest ever inflows of $36 billion in the October-December quarter. India tops the list of recipient countries for remittances in 2024 and is way ahead of second-placed Mexico with $68 billion. China ($48 billion) is in the third spot, followed by the Philippines ($40 billion) and Pakistan ($33 billion), according to figures compiled by World Bank economists. The growth rate of remittances in the 2024 calendar year is estimated to be 5.8 per cent, compared to 1.2 per cent registered in 2023, according to the World Bank data. The number of Indians working overseas has tripled from 6.6 million in 1990 to 18.5 million in 2024, with its share in global migrants rising from 4.3 per cent to over 6 per cent during the same period. Indian migrants in the Gulf countries account for around half of the total Indian migrants in the world. The recovery of the job markets in the high-income countries of the Organisation for Economic Co-operation and Development (OECD), following the onset of the Covid-19 pandemic, has been the key driver of remittances. This is especially true for the United States, where the employment of foreign-born workers has recovered steadily and is 11 per cent higher than the pre-pandemic level seen in February 2020. Meanwhile, in a big relief to Indian professionals working in the US and Non-Resident Indians (NRIs) sending money to India, the updated draft of the One Big Beautiful Bill Act proposed by President Donald Trump has reduced the tax rate on remittances to 1 per cent, down from the 5 per cent proposed initially. Software services and business services were the other major contributors to India's current account inflows in FY25, each bringing in over $100 billion. Together with remittances, these three sources accounted for more than 40 per cent of total current account receipts and have helped to keep India's current account deficit in check.
&w=3840&q=100)
Business Standard
10 hours ago
- Business Standard
Silver trading guide: Buy the dips unless sentiment weakens further
The World Bank expects silver demand to remain robust, supported by the grey metal's dual role as both an industrial input and a safe-haven asset Silver: Buy the dips Silver performance: Silver closed at the highest six-monthly level as it closed at $36.10 on June 30. On July 1, the white metal traded between $35.80 and $36.62 as it rose for the second consecutive day. However, it eased from its day's high on a recovery in the US Dollar and yields as US ISM manufacturing (June) and JOLTs (May) data were mostly upbeat. At the time of writing this report, silver was trading steady at $36.16 (spot), whereas the MCX Silver September was at ₹106,682, up around 0.5 per cent on the day. World Silver Survey: As per the Silver Institute's World Silver 2025 survey, the factors that underpinned precious metals prices throughout 2024 are also in force in 2025. In fact, these factors have been strengthened further by uncertainties surrounding US trade and foreign policy with the arrival of the new Trump Administration. The Survey expects the Fed to cut rates in 2025 due to the possible weakness in the US economy due to tariff uncertainty. The World Bank on Silver: Per the World Bank, gold's prospects are bullish over the next 18 months, while silver and platinum are expected to build on their recent strength through 2026. The World Bank expects silver demand to remain robust, supported by the grey metal's dual role as both an industrial input and a safe-haven asset, while heightened economic and geopolitical uncertainty could further bolster silver's appeal among investors. Global output is projected to rise steadily in 2025, whereas recycling, which accounts for about 20 per cent of global supply, is expected to remain flat following a 6 per cent increase in 2024. Trump Tax bill passes Senate: On Tuesday, the US Senate narrowly passed $3.3 trillion Trump's tax and spending cut bill with a 51-50 vote. The bill, which includes provisions to raise the debt limit, cut Medicaid and other social safety net programs, and tax breaks for certain groups, will go to the House, which is expected to vote on the bill this week. As the bill faces opposition from some of the Republicans, it is difficult to assess whether it can be passed in the House, which has a slim Republican majority. ETF: As of June 30, total known global silver ETF holdings stood at 772.80MOz, up around 8 per cent YTD. Silver ETF holdings have been up for eight weeks in a row and are at the highest level since August 2021. COMEX silver inventory: COMEX Silver inventory stands at 499.695MOz, down nearly 1 per cent from the record high level of 505 MOz seen on May 12. US Senate drops excise tax from Trump's bill: The US Senate dropped the proposed excise tax on solar and wind projects that use Chinese components. However, the bill will end subsidies for new wind and solar projects after December 31, 2027. Upcoming data: Today's major US data on cards include ADP employment change (June). However, the focus is mainly on the nonfarm payroll report (June) to be released on July 3. The report is likely to show a decline in hiring and an uptick in the employment rate. ISM services report, yet another crucial report, will also be released on the same day. Silver outlook: Spot silver is well supported by huge ETF inflows, a weakening US Dollar, and economic and political uncertainties. The US Dollar Index fell to more than a three-year low on July 1 as hit a fresh cycle low of 96.33. Trump's tax and spending bill is somewhat positive for the metal. Chinese PMIs (June) have been encouraging. US data released on Tuesday is also largely supportive of the metal. However, risk will come from tariff war headlines. Buying the dips is advisable unless risk sentiments deteriorate significantly. Tariff developments ahead of the July 9 deadline will be crucial. The $35 support (₹103,000) can be used for initiating long positions. Resistance is at $36.84 (₹108,700)/$37.50 (₹110,700).
New Indian Express
11 hours ago
- New Indian Express
MTC e-buses to be run as deluxe service, won't be part of free Vidiyal Payanam ride
CHENNAI: The Metropolitan Transport Corporation (MTC) has decided not to operate any of the new electric buses as ordinary services under the Vidiyal Payanam scheme. Instead, all the 1,225 low-floor electric buses, including the 120 non-AC buses introduced on Monday and the remaining 1,105, set to be launched in two phases in the coming months, will function as deluxe services. A few months back, MTC had proposed allocating 30-35% of these electric buses (about 170-180 buses) as ordinary services to allow free travel for women, trans-persons, and persons with disabilities. The move was also aimed at boosting bus patronage, as a segment of regular commuters has shifted to two-wheelers and other modes of transport. According to official sources, MTC currently operates a fleet of 3,350 buses, of which nearly 1,550 run as ordinary services benefiting nearly 13.5 lakh women daily, out of MTC's daily patronage of 28.5 lakh. 'Nearly 45% of the fleet is being operated as ordinary buses. Introducing more such services would increase the financial burden on the transport corporation and the state government,' said an official.
