Himachal Urges Centre To Increase Hydropower Royalties

26 Jun 2026 CW Team

Himachal Pradesh chief minister Sukhvinder Singh Sukhu urged Union minister for power, housing and urban affairs Manohar Lal Khattar to raise the state's free power royalty share above the current 12 per cent for central public sector undertaking hydropower projects where the initial critical period of 12 years has ended. He also sought a higher allocation in the 180 megawatt (MW) Baira Siul hydropower project, pressing for 50 per cent free power as the project has completed 44 years since commissioning.

Sukhu highlighted delays in payment of energy arrears owed to the state under Bhakra Beas Management Board projects and set out social and environmental grievances arising from their execution. He said thousands were displaced, the state suffered adverse environmental impacts, and settlement of Pong dam oustees remained unresolved, emphasising the need for timely redress and compensation mechanisms.

The chief minister indicated that Haryana and Punjab may give consent to provide energy arrears totalling 13,066 million units (MU) due as of 31 October 2011, and that where arrears are converted to monetary terms the tentative amount stands at Rs 77.84 billion (Rs 77.84 bn) with a compound interest rate of six per cent to date. He urged that the central authorities reconcile accounts and expedite payments to alleviate fiscal pressure on the state.

Sukhu sought financial assistance for planned urbanisation projects including HimChandigarh and an Aero City at Kangra to spur economic growth, tourism and investment, and said the state has proposed projects amounting to Rs 11.79 billion (Rs 11.79 bn) under the Urban Challenge Fund across 24 urban local bodies. He added that projects worth Rs 6.6 billion (Rs 6.6 bn) were submitted in the first phase and requested release of Rs 123.3 million (Rs 123.3 mn) under the Clean Hilly and Himalayan Cities Initiative to ensure timely implementation of sanitation and waste management programmes.

Real Estate

16 Jul 2026

VeARC leases 27,000 sq ft office space in Bengaluru

VeARC India has leased approximately 27,000 sq ft of office space at The Executive Centre's (TEC) Helios Business Park on Outer Ring Road (ORR), Bengaluru, to support the expansion of its Global Capability Centre (GCC) operations.The new workspace accommodates more than 450 workstations and is intended to support the company's growing workforce in India. VeARC India serves as the Global Capability Centre for Long Arc Capital.Located on Bengaluru's Outer Ring Road, the office provides access to one of the city's key technology and business corridors. The expansion comes amid continued growth in..

Bharat Shah Family Buys Four Luxury Apartments In Worli For Rs1.8 bn

The family of veteran investor Bharat Shah has acquired four ultra-luxury apartments on the higher floors of Kalpataru One in Worli, South Mumbai, for Rs1.8 billion (bn). The purchases were registered on 6 July 2026 and were executed through Preeti Bharat Shah and Kinnari Bharat Shah, who bought the flats from Kalpataru Properties Limited. Property registration documents reviewed by Zapkey show the total consideration at Rs1.7941 billion. The transactions recorded a per square foot RERA carpet price of Rs0.101 million (mn), with each apartment valued at about Rs448.5 million. The four residenc..

NITI Aayog Consultation On Critical Mineral Supply Chains

NITI Aayog convened a stakeholder consultation in New Delhi on Wednesday to assess requirements for critical minerals across strategic sectors, bringing together experts from government, research institutions, academia and industry. The meeting aimed to estimate current and future demand, identify supply chain vulnerabilities and discuss measures to strengthen domestic capabilities in exploration, processing and recycling. The exercise formed part of broader efforts to secure mineral value chains essential for economic growth, technological advancement and national security.\n\nDiscussions con..