Update on India’s States: March 10, 2016

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Elections for Assam, Kerala, Puducherry, Tamil Nadu, and West Bengal announced; results on May 19. Andhra releases “Internet of Things” policy framework; Gujarat releases “Electronics Policy 2016;” Haryana hosts “Happening Haryana” investment summit; Japan’s JICA signs assistance agreement for Ahmedabad metro; Rajasthan budget presentation on March 8; NASSCOM creating start-up warehouse in Chennai; Telangana, Maharashtra sign water sharing deal; Samajwadi surges in UP.

Center-State relations

As part of the center’s bailout scheme for state power distribution companies (discoms), the Finance Ministry has given permission to Uttar Pradesh, Rajasthan, Jharkhand and Chhattisgarh to issue bonds to cover discom debt. Discoms in these four states owe around $22.4 billion, which represents about 35 percent of the outstanding loans of all state discoms. Source: Hindu Business Line

The government has given approval to set up four new special economic zones specializing in IT services in Telangana, Karnataka, and Punjab. Source: Economic Times

 The state government issued a new policy on the ‘Internet of Things’ (IoT) designed to encourage Andhra Pradesh-based manufacturers to capture at least 10 percent of the Indian IoT market. Among other incentives, the state government will allot free land to companies that promise to employ at least 250 people per acre in IoT manufacturing or development. Source: The Hindu

According to early estimates, Andhra Pradesh’s Gross State Domestic Product (GSDP) grew at 10.99 percent in FY15-16, compared to national growth of 7.6 percent. Source: Hindu Business Line

During a visit to the United States, the Andhra Pradesh government’s IT Advisor J A Chowdary met with officials of University of California, Berkeley and Stanford University. The parties agreed to work on joint innovation and incubation activities to promote start-up eco-system in AP. Source: Economic Times

Indian Railways has completed the land acquisition process for a new electric locomotive factory in Madhepura, Bihar. The plant will start production by February 2019. Source: Times of India

 

The center allocated $113 million to Delhi government for financial year 2016-17. Delhi’s share of central taxes and duties remained unchanged at $50 million, the same as it has been since 2002. Source: Economic Times

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The Gujarat government unveiled its ‘Electronics Policy 2016, which includes subsidies of up to $14.9 million on the capital cost to set up an Electronics Manufacturing Cluster (EMC) in the state. Source: DNA

Detailed: Electronics Policy for the State of Gujarat (2014-19)

The government has approved the Adani Group’s proposal for combining its three notified special economic zones in Gujarat to form a mega multi-product export zone spanning over 8,500 hectares. Source: Economic Times

Tax sops were announced, for India’s first International Financial Services Center (IFSC) being built at GIFT City in Gandhinagar, as part of the Union Budget for 2016-17. Tax benefits include complete exemption from dividend distribution tax, securities transaction tax, long term capital gain tax and commodity transaction tax.

Source: Indian Express

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With its first-ever investor summit, taking place March 7 to 8, Haryana will join the league of states trying to attract investment pledges from domestic and foreign investors. Over 1,400 delegates confirmed their attendance at the two-day summit. Source: Business Standard

Detailed: Global Investors Summit 2016

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The Legislative Assembly passed seven bills on the last day of the session, including the Karnataka Public Service Commission (Conduct of Business and Additional Functions) (Amendment) Bill 2016, which reforms the process for recruiting entry-level civil servants. Source: Deccan Herald

State-run Bharat Heavy Electricals Ltd announced it had commissioned its first 700 MW supercritical thermal unit at Bellary Thermal Power Project (TPP) in Karnataka. Source: Economic Times

Chief Minister Shivraj Singh Chouhan, inaugurated 108 development projects worth $97 million in Ujjain that were directed towards building and improving infrastructure (Water supply unit, power substation, renovating roads and bridges). This comes ahead of ‘Simhastha Mahakumbh’ scheduled from April 22 to May 21.

Source: Times of India

Madhya Pradesh, along with the central government, signed a $300 million credit agreement with the World Bank to fund the ‘MP Higher Education Quality Improvement Project,’ designed to improve the quality of education in Madhya Pradesh’s colleges and universities. Source: Times of India

Detailed: MP Higher Education Quality Improvement Project

Energy solutions provider Inox Wind has bagged a 20 megawatt (MW) wind power project from PTC Energy Limited in Nipaniya and Mandsaur in Madhya Pradesh. It will supply and install 10 units of wind turbine generators and the order is due to be commissioned this month.

Source: Economic Times

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Japan International Cooperation Agency (JICA) signed an agreement with the center to provide $725 million assistance for Ahmedabad Metro Rail Project. The cumulative loan amount provided by JICA for metro projects in India (including Delhi, Chennai, Bengaluru, Kolkata and Mumbai Metro’s) has exceeded $8.8 billion. Source: Economic Times

 

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 Rajasthan chief minister Vasundhara Raje will present the 2016-17 budget on March 8th. Source: Economic Times

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Gamesa, a renewable energy company, has won orders for 12 MW of solar energy projects in Tamil Nadu. Source: Economic Times

State-run power equipment maker BHEL has won an $835 million order for a 1,600 MW power plant from Tamil Nadu Generation and Distribution Corporation. Source: Economic Times

The National Association of Software & Services (NASSCOM) and Tamil Nadu officials signed an agreement to build NASSCOM’s first “startup warehouse” in Chennai. The 8,000 square-foot warehouse will house and support as many as 50 startups.

Source: NDTV

 

The Chief Ministers of Telangana and Maharashtra signed a memorandum of understanding to set up an inter-state water board on projects related to the Godavari River. This is in order to work out specifications regarding construction of Medigadda barrage.

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The Samajwadi Party (SP) swept the March 3 elections for the upper house of the state legislature. The SP won 31 of the 36 legislative council seats up for grabs. Congress won one seat, while the BJP won zero. Source: Economic Times

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Chief Minister and Trinamool Congress leader Mamata Banerjee announced her party’s candidate list. Trinamool will present 94 new candidates in this spring’s assembly polls, with increased proportions of women and Muslims. Source: Economic Times

Chief Minister Mamata Banerjee offered the Tata Group 600 acres in Singur if it agreed to discuss a return to West Bengal. The state and Tata are currently fighting in court over West Bengal’s to seize 1,000 acres previously allotted to Tata. Source: Economic Times

Upcoming State Elections

Results for all 5 state elections will be available April 19.

Poll Dates:

Assam – April 4 and April 11

Kerala – May 16

Tamil Nadu – May 16

Puducherry – May 16

West Bengal – April 4, 11, 17, 21, 25, 30 and May 5

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