Travel to get cheaper by 33% on Delhi-Gurgaon expressway

The cost of travel on the Delhi-Gurgaon expressway in a month will soon come down by around one-third following a new pact signed today by NHAI and other parties involved in the project.

“To avail the concessions for local traffic, earlier the user public were paying for 60 trips per month by taking e-tag on payment of one-time deposit of Rs 1500. Now the user public have to pay for only 40 trips without payment of cost of e-tag,” an official statement from NHAI said.

The Memorandum of Understanding (MoU), which provides concessions to the local public for the use of the expressway, was signed today.

The revised scheme is to be implemented within 15 days. The local traffic will get a concession of 50 per cent for personal traffic and 33 per cent for commercial traffic, the statement said.

Read more: The Economic Times

Delhi to get another bridge across river Yamuna

The fast expanding boundaries of the capital city and rapidly increasing number of vehicles has made public works department (PWD) to plan yet another bridge across the river Yamuna.

The new bridge, said PWD engineers, is being planned in northern most part of the city where people have to drive 25-30 kilometres to reach the other side of the river.

The PWD has appointed a consultant to carry out a feasibility study for the proposed bridge. The consultant, said an engineer, would carry out the traffic survey and feasibility studies of the bridge.

According to a senior PWD engineer, the new bridge is being planned between Karawal Nagar in north east Delhi and Alipur in north Delhi.

The bridge, said engineers, would come up several kilometres upstream the Wazirabad bridge, which is the only bridge that provides connectivity between north Delhi and north east Delhi.

Read more: Hindustan Times

Hassle-free ride on Delhi-Gurgaon expressway to boost Gurgaon’s image as city of future

With the exception of Delhi, the only city that is reputed to have a future as a financial and corporate centre in the North is Gurgaon. Which is why the city is already home to over 300 Fortune 500 companies and a magnet for property investors.

Gurgaon’s image as a city of the future is staked more on its potential than on its performance. That image, which has taken a beating with mounting infrastructural problems and poor accessibility despite the expressway, has got a fresh sheen with the windfall removal of barriers at the 32-lane toll plaza as per the order of Punjab and Haryana high court last fortnight.

Read more: The Economic Times

Business/Economy

Younger CEOs paid more in India than US

A new breed of younger Indian CEOs is rewriting the rules of the compensation game. In the process, they are topping their American and European peers to stand out as the highest paid executives globally, something which was once the exclusive preserve of executives from companies based outside India.

The average annual salary for an Indian CEO below the age of 50 years now stands at Rs 7.9 crore. Compared with the Rs 7.3 crore that American corner office occupants earn and Rs 7.8 crore pocketed by European bosses, it highlights the rising salaries of younger CEOs, especially in promoter-run firms in India.

Younger Indian CEOs may have stolen a march over their global peers in the salary sweepstakes but overall, Indian CEO salaries are substantially lower than their international counterparts. This was revealed in a study by global recruitment firm Randstad, which was commissioned by TOI to compare the differentials that exist between salaries of Indian CEOs vis-a-vis their western counterparts.

Read more: The Times of India

‘Hollywood bullish on India’

Hollywood should bet on India over China in the long term, according to Chris Dodd, the Chairman and CEO of the Motion Picture Association of America (MPAA). Speaking to Business Standard on the sidelines of the inaugural Asian Film Summit at this year’s Toronto International Film Festival, during September 6-16, Dodd said, “We talk about China a lot, but actually India, in many ways, is in the long run a better market because I think the Indian audience and the government of India have no problem accepting films that challenge institutions public or private, and tell stories that are edgy.”

Since taking the top job at the MPAA last year, Dodd, a former US Senator and Democratic presidential candidate, has focused on Asia as a rapidly growing market for Hollywood. Until recently, he said, India was not even a part of MPAA’s Asian portfolio. Since he took over, most of his travels have been to Asia, including a visit to Mumbai in March to keynote the FICCI FRAMES conference for the entertainment industry.

Read more: Business Standard

India News

International calls set to become cheaper on new TRAI rule

International long distance call charges are set to come down with the telecom regulator introducing a new measure that will intensify competition in this segment. TRAI has allowed telephone users of one operator to use calling cards issued by another operator.

For example, a Vodafone user will now be able to make calls to the US or UK using Reliance’s global calling card. Until now, a Vodafone subscriber was forced to make ISD calls using only Airtel’s network.

The new system also opens up the game for foreign giants such as BT, AT&T and Orange which can now sell their voice calling cards to retail and enterprise users in India. These multinational firms, at present are offering only data services to large corporates.

TRAI has directed all operators to open up their access networks to enable customers to make the choice and use calling cards of other players.

Read more: Business Line

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