MUMBAI: Mumbai ranks 47 on the city wealth index of 314 global cities in the Knight Frank Wealth Report 2018 released on Wednesday. India s financial capital is also among the Top 20 costliest global cities; 1m or Rs 6.5 crore can buy a 990-square-foot house in Mumbai said the report. Mumbai and Delhi it added would be among Top 10 markets to witness the highest addition in households earning over 2 50 000 or Rs 1.6 crore annually between 2017 and 2022. In terms of wealth alone wherein the index measures the rich and the rate of wealth generation in a city Mumbai ranks among Top 20 with Delhi at 22nd and Bengaluru at 26th positions respectively. Property investment was amongst the lowest (17%) contributing factor that led to an increase in wealth amongst Indians compared with 30% for Asia and 50% globally. While 95% respondents said that India s wealthy people increased their investments into equities 50% said that investments into property dwindled in 2017. The inclination to invest in property is lower for the ultra-wealthy Indians http://kkflipkart.simplesite.com/ compared to their global peers said Samantak Das chief economist and national director research Knight Frank India. For those looking to invest outside India the top choices are the UK the US and UAE. Amongst those willing to commit to property we have seen a heightened level of interest in commercial real estate particularly office and logistics/warehousing on the back of a stream of policy interventions he added. At 54% India records one of the fastest growths in its Super Prime population (individuals with net worth of 50m or over Rs 330 crore) between 2012 and 2017. The country will add more than 2000 such individuals at a higher growth rate of 71% by 2022. India is also expected to become the third largest contributor in Asia with respect to wealthy population after China and Japan. The report is based on responses from more than 500 leading private bankers and wealth advisors across the world tracking the super-rich population across 314 cities in 52 countries. The number of ultra-wealthy rose by 11 630 in 2017 taking the global total to 129 730. India s wealthy population in the prime ( 5m or over Rs 32 crore) category rose to 47 720 individuals between 2016 and 2017 recording a 21% growth. This is more than double the global average (9%) and one and half times the Asia average (14%). Even in terms of projections the segment in India is expected to increase by staggering 71% between 2017 and 2022 again well above the Asia (61%) and the global average (43%) said the Knight Frank report.
Amidst a major push for expansion of the suburban Mumbai rail network in the Union Budget the government today informed Parliament that the national transporter has incurred a loss of more than Rs 4 000 crore in the last three years in running the Mumbai locals. In a written reply in Lok Sabha today Minister of State for Railways Raen Gohain said that since 2014-2017 railways had incurred a loss of Rs 4280.50 crore by running the suburban rail network in Mumbai. Indian Railway is incurring losses by running local train services in metropolitan areas of Mumbai. In the last three years while the total earnings was Rs 5206.16 crore the expenditure was Rs 9486.66 crore and the loss was of Rs 4280.50 crore Gohain said. In Budget 2018 Finance Minister Arun Jaitley announced the expansion of the Mumbai suburban train network spread over 465km at a cost of Rs 11 000 crore and said the government also planned to allocate an additional Rs 40 000 crore for the city s rail network. The suburban railway in Mumbai operates 2 342 local train services and carries more than 7.5 million commuters daily and this is the first time that the network is being expanded in a big way. Gohain informed the House that while in 2014-2015 the national transporter lost Rs 1426.19 crore the next year it lost Rs 1477.55 crore and in 2016-2017 the railways incurred a loss of Rs 1376.76 crore.
Mohamed Farooq alias Farooq Takla a close aide of gangster Dawood Ibrahim and one of the accused in the 1993 Mumbai blasts was extradited from the United Arab Emirates on Wednesday and has been brought to India according to media reports. #EXCLUSIVE -- Big diplomatic win for India. Farooq Takla wanted in the 1993 Mumbai blasts has been deported from Dubai. He will be produced in TADA court in Mumbai. @Zakka_Jacob with more details | input: @manojkumargupta pic.twitter.com/D9Ti7bSQkH News18 (@CNNnews18) March 8 2018 According to News18 Takla will be produced before the Terrorist and Disruptive Activities (TADA) court in Mumbai on Thursday. He is currently being interrogated by the Central Bureau of Investigation (CBI) in Mumbai. Takla faces criminal conspiracy murder attempt to murder voluntarily causing hurt by dangerous weapons or means and several other charges according to INTERPOL. Representational image. Reuters At least 27 other accused in the case including dreaded mafia dons Ibrahim Kaskar and Tiger Memon who masterminded the blasts continue to elude the investigators and are declared absconders. In September last year a special TADA court had sentenced two convicts to death while Abu Salem Ansari and one other gangster were sentenced to life imprisonment while one other accused received a 10-year sentence. Special judge GA Sanap had sentenced Mohammed Taher Merchant 55 and Feroze Abdul Rashid Khan 47 to death for their role in the blasts. Besides Salem 50 the special court also sent Karimullah Khan 55 to jail for life while the fifth convict Riyaz Siddiqui 67 to 10 years rigorous imprisonment. The special judge also slapped varying amounts of fines on the convicts after finding them guilty on various charges including murder hatching a criminal conspiracy to carry out the blasts waging a war against the nation supplying arms and ammunition and other serious offences. All six accused including Mustafa Dossa were earlier pronounced guilty by the special court on 16 June 2017. However Dossa 60 died of a heart attack on 28 June. With inputs from IANS
Mumbai: An aide of underworld don and 1993 Mumbai serial blasts accused Dawood Ibrahim has been deported from Dubai police said. Farooq Takla was brought to Mumbai this morning. He will be produced before Terrorist and Disruptive Activities (Prevention) Act (TADA) court today. Farooq had fled from India after the blasts. A Red Corner Notice was issued against him in 1995. A Red Notice is issued by Interpol to seek location and arrest of wanted persons with a view to extradition or similar lawful action.Farooq faces criminal conspiracy murder attempt to murder voluntarily causing hurt by dangerous weapons or means and several other charges. He is currently being interrogated by the Central Bureau of Investigation (CBI) in Mumbai. CommentsClose X Last year Dawood s brother Iqbal Kaskar was arrested in Mumbai in connection with a case of extortion.Dawood masterminded the 1993 Mumbai serial blasts in which 257 people were killed and over 700 were injured. He has been listed as a global terrorist by a committee of the UN Security Council.
Dawood Ibrahim s aide Mohamed Farooq alias Farooq Takla has been extradited from Dubai in the United Arab Emirates and brought to India on Thursday morning according to several media reports.Farooq who is wanted in the 1993 Mumbai serial blasts case will be produced before the Terrorist and Disruptive Activities court in Mumbai around 11 am on Thursday ANI reported. The Central Bureau of Investigation is currently interrogating him.Dawood Ibrahim s aide Farooq Takla brought to Mumbai after being deported from Dubai. He will be produced before TADA court in Mumbai. He had fled from India after 1993 blasts and is being questioned by CBI. A Red Corner Notice was issued against him in 1995. pic.twitter.com/bW5Kh5bcb9 ANI (@ANI) March 8 2018 At the request of Indian authorities the Interpol had issued a red corner notice against him in 1995. The notice is intended to locate and provisionally arrest individuals pending extradition. According to the notice the charges that Farooq faces include criminal conspiracy murder attempt to murder and voluntarily causing hurt by dangerous weapons or means.The Mumbai serial blastsOn March 12 1993 at least 257 people were killed and over 700 injured in 12 powerful blasts across Mumbai. Orchestrated by underworld don Dawood Ibrahim the blasts were an act of revenge against the communal riots that swept through Mumbai in December 1992 and January 1993 after the demolition of the Babri Masjid in Ayodhya on December 6 1992. At least 900 people were killed in the riots and more than 2 000 were injured the majority of them Muslims.Immediately after the explosions the state government had set up a special court under the Terrorist and Disruptive Activities (Prevention) Act to hold trials in the case. So far the Tada court has convicted 106 people for their involvement in carrying out the blasts.In September 2017 a special Terrorist and Disruptive Activity court in Mumbai sentenced Abu Salem to life in connection with the case. Karimullah Khan another convict in the case also got life imprisonment. Tahir Merchant and Firoz Khan were sentenced to death and Riyaz Siddiqui was sentenced to 10 years in prison. In June 2017 the court had found Salem and Mustafa Dossa guilty for the blasts and had acquitted Abdul Qayoom. Dossa who had been held responsible for acquiring weapons used in the attacks from Pakistan died later that month. Yakub Memon one of the convicts was hanged in July 2015. Bollywood actor Sanjay Dutt was also convicted for his involvement and served jail term first during the trial and then from 2013 to 2016.
MUMBAI: Mumbai s airport is facing problems because of regional connectivity flights and will not be able to give more landing slots to regional carriers its CEO said on Tuesday in what could be a setback to the government s plan of making air travel affordable for the common man at least in the western region. Whatever slots we have given for UDAN (acronym for ude desh ka aam nagrik ) is already causing problems. UDAN flights are reducing the capacity of the airport. An aircraft (regional jet) carries only 19-20 passengers and it takes more time on the runway said Rajeev Jain CEO of Mumbai International Airport Ltd (MIAL) the GVK-led consortium running the airport. UDAN is the Narendra Modi government s ambitious scheme that seeks to air-connect India s smaller towns at cheap fares and develop hundreds of defunct airports. The airlines have envisaged the scheme to work on a hub and spoke model wherein a key metro city such as Delhi Mumbai Kolkata and Chennai is taken as hub and connects to towns. Does it (UDAN) make economic sense? Is it more economically viable to connect Delhi-Mumbai or Kolhapur to Mumbai? he said. Mumbai India s second-busiest airport and its most constrained has given about half of the 20 slots that are required by regional carriers that have won bids for Mumbai-connected regional routes under the UDAN scheme. In 2016-17 the Mumbai airport was named the world s busiest single-runway airport having handled 837 flights a day or one in 65 seconds on average beating London s Gatwick airport that had 757 flights a day. In calendar year 2017 it faced its worst landing and departure delays in five years which ET reported on January 15 citing data from MIAL s website. Jain said the airport is in talks with NATS Holdings the main air navigation services provider in the UK and another consultant to improve efficiency at the Mumbai airport. He said the airport has already been working with NATS and through various steps has been able to decrease runway occupancy time by 25% from 60 seconds. Mumbai airport will end this financial year by handling over 48 million passengers and is gearing up to touch 60 million said Jain. Jain also said that MIAL is in fresh talks with the government to rehabilitate slum dwellers around the Mumbai airport a long-standing problem plaguing the airport. There are close to 85 000 hutments around the airport area. MIAL had appointed realtor HDIL which built 17 000 houses for the slum dwellers to shift. The agreement fell through and a legal battle followed which was resolved later.
Mumbai: Central government s regional air connectivity scheme Udan is adding to the woes of the capacity-constrained Mumbai airport as smaller aircraft take more time to clear the runway reducing its capacity further according to a top airport executive. The single-runway-operated Mumbai s Chhatrapati Shivaji International airport currently handles 970 aircraft movements (arrivals and departures) per day. Mumbai airport. PTI. Udan has reduced the capacity of airports as (small) https://justpaste.it/1hy9m aircraft occupies more runway time. So if you see the capacity of the airports goes down Mumbai International Airport Limited (MIAL) chief executive officer Rajeev Jain here during media interaction. Jain said whatever slots were at the Mumbai airport have been given to the two operators Air Deccan and TruJet adding (even) that is causing great problem. It may be mentioned here that the civil aviation ministry had sought 20 slots for the first phase of the Udan scheme at Mumbai airport but only eight were given due to the capacity constraints. Under Udan or Ude Desh Ka Aam Nagrik Scheme the government seeks to provide air connectivity to the under-served and unserved airports across the country and the fares for such flights have been capped at Rs 2 500 for a one hour journey. According to Jain an aircraft operating an Udan flight takes one-and-half times more time on the runway than what it takes for a regular flight.
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