Mines Ministry awaits response on plan to scrap duty

Mines Minister is awaiting steel ministry response on a proposal to remove 30 percent export duty on high-grade iron ore, mines minister Piyush Goyal said on Thursday.

 The proposal would pave way for export of surplus high-grade iron ore (with over 58 percent iron content) in odisha and Jharkhand. The two states had approached the mines ministry for the removal to garner revenue by exporting excess iron ore.

According to Federation of tinder Mineral Industries 168 million tones of high-grade iron ore lie idle in the country. However some steel companies are of the view that ore is a natural resource and should not be exported.

The major advantage the Indian steel sector has is of domestic iron ore, so it should be conserved for the industry here, they say. To develop infrastructure, more steel is required and hence, more iron ore, Seshagiri Rao M V S, group chief

Financial Officer and joint Managing director of JSW Steel, had said. Meanwhile, mines ministry on Thursday launched a web portal for star rating of major mineral mines in the country.

The main Objective of this is to bring all mines to a minimum standard of star rating in the shortest possible time to adopt sustainable practices.

The star rating will be based on aspects including scientific and systematic mining to ease environmental impact, addressing social impact of resettlement and rehabilitation, and adoption of international standards for mining operations and reporting .http://www.axykno.com/Natura-resorces.php

                                                          

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Smart Parking in India

Introduction to Smart Parking

Traffic congestion caused by vehicle is an alarming problem at a global scale and it has been growing exponentially. Car parking problem is a major contributor and has been, still a major problem with increasing vehicle size in the luxurious segment and confined parking spaces in urban cities. Searching for a parking space is a routine (and often frustrating) activity for many people in cities around the world. This search burns about one million barrels of the world’s oil every day. As the global population continues to urbanize,without a well-planned, convenience-driven retreat from the car these problems will worsen.

SmartParking systems typically obtains information about available parking spaces in a particular geographic area and process is real-time to place vehicles at available positions .It involves using low-cost sensors, real-time data collection, and mobile-phone-enabled automated payment systems that allow people to reserve parking in advance or very accurately predict where they will likely find a spot.

When deployed as a system, smart parking thus reduces car emissions in urban centers by reducing the need for people to needlessly circle city blocks searching forparking. It also permits cities to carefully manage their parking supply Smart parking helps one of the biggest problems on driving in urban areas; finding empty parking spaces and controlling illegal parking.

Need and benefits of smart parking

Smart Parking would enable the following

•        Accurately predict and sense spot/vehicle occupancy in real-time.

•        Guides residents and visitors to available parking.

•        Optimize Parking Space Usage

•        Simplifies the parking experience and adds value for parking stakeholders, such as drivers and merchants

•        Help traffic in the city flow more freely leveraging IOT technology.

•        Enables intelligent decisions using data, including real–time status applications and historical analytics reports

•        Smart Parking plays a major role  in creating better urban environment by reducing the emission of CO2 and other pollutants

•        Smart Parking enables better and real time monitoring and managing of available parking space

·         resulting in significant revenue generation

•        Provides tools to optimize workforce management

Smart Parking Work Flow Structure

Below is the structure of the process of operating and managing the smart parking infrastructure.

Smart Parking

 

 Potential market Landscape

The rapid growth in the number of vehicles worldwide is intensifying the problem of the scarcity of parking space. Again according to industry data, 30% of traffic congestion occurs due to vehicle drivers struggling to find parking space. These in turn are magnifying the necessity of smart and efficient parking systems. Today’s intelligent parking management systems are capable of providing extreme level of convenience to the drivers, as well as simplifying and automating the business operation and administrative functions of the parking site owners.

The high growth rate in the registration of new cars worldwide, with major boom from regional economies such as Asia Pacific (APACE), will open the window of opportunities for parking management business. The ongoing and upcoming smartcity projects worldwide will create room for the intelligent parking management systems. The global parking management industry is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.4% from 2014 to 2019.

The parking management market is estimated to be at $5,025.9 million in 2014. The market is expected to grow in tandem with the growth in vehicle ownership and parking facilities development. Need for smooth traffic flow, business benefits to the parking site operators, and decreasing hardware and connectivity costs are the key drivers for the parking management industry.

Challenges and major pain points

The major challenge in Parking Systems is of system integration due to wide variety of hardware and software platforms involved and hence possess a great threat or concern to the system scalability. The technology platform comprises of a myriad of hardware sensors, dynamic messaging systems and traffic control devices, wireless and wire line telecommunications systems, computer clients and servers and hardware drivers and application interfaces.

Enabling all these devices from thousands of different vendors to communicate and tying them together into one platform is the greatest challenge in reducing the cost and complexity of smart parking. The variety of infrastructure hardware and software systems that need to intent grated is enormous and add Smart Parking in India to it the conventional older hardware making investment in Smart Parking solution highly risky and fragmented. 

Another major challenge is to face the electronic payment vendors. These payment processors provide permit based electronicpayment, typically for a convenience fee. The key to many of these hosted solutions is scalability, the ability of the transaction processorto support over wide geographical, market and service areas, with minimal cost http://axykno.com/Infrastructure.php

Smart Housing The Doorstep into the Future

                                                                Author: Kansish Gadpale

Analyst,

Infrastructure Group

                                                                                                 
To understand smart housing let us look at the basic definitions of the term ‘house’ & ‘smart’

A house is a building designed to be used as a place of residence, or of human occupation for any purpose: as, a dwelling house; a banking house; a house of worship; a public house. And the definition of smart is sharp; quick, vigorous; efficient; severe, brisk; lively; witty, elaborately nice; elegant; fine; showy, active; intelligent; clever, careful; punctual, having strong qualities; strong.. etc 

While in modern context we often use smart to denote that which can provide information right when you need it and can present them in a more useful way as compared to other. Why? you can get the answer by observing around you that peoples day to day activities are getting more effective, qualitative, as well as dependent on the use of ICT i.e. information and communication technology.

When we apply these modern principles using ICT in a cluster of houses we can call it a smart housing. Smart houses have highly advanced, automated systems to control and monitor any function of a house such as lighting, temperature control, multi-media, security, window and door operations, air quality, or any other task of necessity or comfort performed by a home's resident. Coded signals are sent through the home's wiring (or sent wireless) to switches and outlets that are programmed to operate appliances and electronic devices in every part of the house. Home automation can be especially useful for the elderly, people with physical or cognitive impairments, and disabled persons who wish to live independently.

To give you an example smart house is already a toy of super-wealthy, like Bill and Melinda Gates' home in Washington State called Xanadu 2.0. The Gates' house is so high-tech that it allows visitors to choose the mood music for each room they visit.

So, a truly smart house wouldn’t have different kinds of remote controls for performing every kind of action and monitors that show the specific information for specific device. But a smart housing should be something which we can have control over and can keep an eye on even when we are not in home. It is something that automatically adapts to our daily routines and can interact with us verbally in any corner of the house and is able to assimilate and convey its own update to occupants according to the priority in very understandable way. That means all the services, sensors, appliances, from security to entertainment systems are managed and controlled via one CPU which is accessible only to the occupants and through a highly encrypted secure connections.

The future of smart housing will bring more fictional characteristics that we watch in movies such as; housing clusters recycling and safely disposing the wastes. Washing and drying of clothes, and suggesting which clothes to wear on according to personal choice in relation to weather outside. Self washing and cleaning of house. Kitchens with robotic arms than can replicate unique dishes by learning the data gathered from internet and according to the taste preferences of family members. Creating artificial sunlight and artificial realities using holographic projectors etc.

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What is GST and How it will affect the Common Man

How India’s Tax System Structured Today

The constitution divides taxation powers between Centre and States. Both level of Government

What is the Problems with this arrangement

There are two important problems with the current arrangement:-

First some goods which are manufactured are levied Indirect Tax called Central Excise at the factory gate. Subsequently when they reach a retail outlet and is bought by a consumer, State Government levies a tax on the consumption dubbed as Value Added Tax (VAT).

So we have a Tax at Factory Gate which adds to the cost of the goods and another tax i.e VAT on Final Price.

Since States have exclusive domain on consumption tax i.e VAT within their borders, they treat Goods coming from other states as ‘Imports”. If the goods are sent across the state borders and sold in another state an ‘Export” tax called Central Sales Tax is collected by the selling state.

As seen above there are multiple taxes when there is commerce across state borders. Consequently it increases cost for everyone and makes economic activity within India and for Indians complicated.

How GST Help

The GST shall have two components: one levied by the Centre (Central GST), and the other levied by the States (State GST). Rates for Central GST and State GST would be prescribed appropriately, reflecting revenue considerations and acceptability. This dual GST model would be implemented through multiple statutes (one for CGST and SGST statute for every State).

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.

At the Central level, the following taxes are being subsumed:

·         Central Excise Duty,

·         Additional Excise Duty,

·         Service Tax,

·         Additional Customs Duty known as Countervailing Duty, and

·         Special Additional Duty of Customs.

At the State level, the following taxes are being subsumed:

·         Subsuming of State Value Added Tax/Sales Tax,

·          Entertainment Tax (other than the tax levied by the local bodies), CST

·         Octroi and Entry tax,

·         Purchase Tax,

·         Luxury tax, and

·         Taxes on lottery, betting and gambling.

The Central GST and the State GST would be levied simultaneously on every transaction of supply of goods and services except on exempted goods and services, goods which are outside the purview of GST and the transactions which are below the prescribed threshold limits. Further, both would be levied on the same price or value unlike State VAT which is levied on the value of the goods inclusive of Central Excise.

Credit of Input Tax :

Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.

The final consumer will thus bear only the GST charged by the last dealer in the Supply chain with setoff benefits at all the previous stages.

 Interstate Transactions:

 In case of interstate transactions, the Centre would levy and collect the Integrated Goods and Services Tax (IGST) on all interstate supplies of goods and services under Article 269A (1) of the Constitution. The IGST would roughly be equal to CGST plus SGST. The IGST mechanism has been designed to ensure seamless flow of input tax credit from one State to another. The interstate seller would pay IGST on the sale of his goods to the Central Government after adjusting credit of IGST, CGST and SGST on his purchases (in that order). The exporting State will transfer to the Centre the credit of SGST used in payment of IGST. The importing dealer will claim credit of IGST while discharging his output tax liability (both CGST and SGST) in his own State. The Centre will transfer to the importing State the credit of IGST used in payment of SGST. Since GST is a destination based tax, all SGST on the final product will ordinarily accrue to the consuming State.

Investment Banking

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