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EquityPandit

EquityPandit
BUSINESS

Renault and Stellantis Halt Spanish Assembly Lines as Chip Shortage Continues

Two Renault factories in Spain's Castile and Leon regions will be on a temporary halt.

On Friday, carmakers Renault and Stellantis said that they would partly halt their Spanish plants in the coming weeks as the lack of microchips persists. The global chip shortage has devastated the automotive sector, with many firms even halting production temporarily. The chip shortage is primarily caused by pandemic supply chaos and booming demand.

Two Renault factories in Spain’s Castile and Leon regions will be on a temporary halt. One of these would shut down entirely on Saturday, while the other would cancel shifts on several days this week and the next. At Stellantis’ plant in Vigo, Spain, the carmaker company has cancelled Saturday and Sunday night shifts.

It is reported that they stopped manufacturing for 15 days in February. The supply shortage could imply more shutdowns in any moment. In recent months, both automobile companies have halted output several times in Spain.
Founded in 1899, Renault is a French automobile manufacturer mainly producing cars and vans.

Stellantis N.V. is a multinational automobile manufacturer corporation formed in 2021 on the basis of a 50–50 merger between the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group.

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INDIA

India Subsidises 10 Lakh+ Electric-2-Wheelers in FY25 as Sales Jump 21%

Dhruva Kulkarni

India subsidised over 10 lakh electric two-wheelers in FY25 under the PM E-DRIVE scheme, supporting EV sales and green mobility.

Electric two-wheeler sales rose 21% to 11.49 lakh units, while electric three-wheeler sales jumped 57% to 1.59 lakh units.

The PM E-DRIVE scheme, launched in September 2024, has a budget of Rs 10,900 crore and runs until March 2026, including EMPS 2024 sales.

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The scheme has saved 8.56 lakh litres of fuel daily and reduced CO2 emissions by 12.48 lakh kg daily, cutting pollution and boosting energy security.

Over 18 OEMs have applied under the PLI Auto Scheme, supporting EV manufacturing and industry growth.

Government policies, technology, and sustainability goals drive India’s e-mobility push, aligning with the Net Zero target by 2070.

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INDIA

Bengaluru Residents Face Higher Waste Disposal Charges as BBMP Introduces Garbage Cess

Dhruva Kulkarni

Bengaluru residents will soon face higher costs for waste disposal as the BBMP introduces a “garbage cess,” alongside recent hikes in milk and electricity prices.

The cess, which will be added to property tax payments, is expected to raise about Rs 600 crore annually, with fees varying based on property size. Residential properties up to 600 sq. ft. will pay Rs 10 per month, while larger homes up to 4000 sq. ft. will pay Rs 400 monthly.

Commercial establishments, including hotels, will see a rise in fees, with hotels paying Rs 12 per kg of waste, up from Rs 5.

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Opposition leaders from the BJP have criticised the Congress-led government for burdening citizens with new taxes. BJP leaders plan protests, including a march at Bengaluru’s Freedom Park and a ‘Jana Aakrosh Yatra’ from Mysuru.

Additionally, the Karnataka government has raised milk prices by Rs 4 per litre, effective 1st April, citing increased production costs.

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INDIA

PM Modi to Inaugurate Kashmir’s First Vande Bharat Train on 19th April

Dhruva Kulkarni

PM Modi will flag off Kashmir’s first Vande Bharat train from Katra on 19th April, completing the 272-km Udhampur-Srinagar-Baramulla rail link.

The Jammu-Katra-Srinagar Vande Bharat Express will start from Katra as Jammu station is renovating.

Officials confirmed the rail link project was completed in February, with successful trial runs on the Katra-Baramulla route.

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The train will reduce travel time between Jammu and Srinagar, offering a modern and efficient service.

Union Minister Jitendra Singh stated that PM Modi will visit the world’s highest railway bridge before flagging off the train on 19th April.

The project began in 1997 and faced delays due to challenging terrain and weather conditions.

It includes 38 tunnels (the longest being 12.75 km) and 927 bridges, including the Chenab Bridge, which is taller than the Eiffel Tower and the highest arch railway bridge in the world.

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ECONOMYINDIA

Govt to impose 10% import duty on desi chana from 1st April

Dhruva Kulkarni

The government will impose a 10% import duty on desi chana (Bengal gram) from 1st April.

In May last year, the government allowed duty-free import of chana to boost domestic availability and control prices. This waiver was set to last until 31st March 2025.  

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According to a finance ministry notification dated 27th March, the import of Bengal gram will now attract a 10% duty starting from 1st April.  

Government data estimates chana production at 11.5 million tonnes in 2024-25, up from 11 million tonnes in the previous year.

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INDIA

Karnataka to Hike Toll Rates by 3-5% from 1st April

Dhruva Kulkarni

Karnataka will increase toll rates by 3-5% from 1st April, with an official notification expected soon.

According to reports, the state has 66 toll plazas, and the revised rates will apply based on the concessionaire period. NHAI Bengaluru Project Director KB Jayakumar confirmed that the hike will range between 3% and 5%.

Karnataka State Travel Operators’ Association president Radhakrishna Holla stated that the increased toll charges would be passed on to customers.

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Toll rates will rise at key plazas, including Kaniminike, Sheshagirihalli, Nangli, Bagepalli, Sadahalli, Hulikunte, and Nalluru Devanahalli.

Union Minister Nitin Gadkari announced plans for a new toll policy and revealed that India’s toll collection reached Rs 64,809.86 crore in 2023-24, marking a 35% increase.

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