The Srinagar International Airport has initiated a structural safety audit of its buildings after a roof collapse at Delhi's Indira Gandhi Airport resulted in one death and eight injuries. The order was issued by Union Minister of Civil Aviation Ram Mohan Naidu Kinjarapu, who emphasized the importance of proactive measures in light of the mishap. The director of Srinagar Airport, Javed Anjum, has announced that the airport will work with the National Institute of Technology (NIT) Srinagar to conduct the audit and submit a report to the ministry. He also reassured the public that regular inspections and thorough checks have been conducted to ensure the safety of the airport's structures.
Delhi Airport Roof Collapse Raises Concerns, Prompts Structural Safety Audits
Background
On March 27, 2023, a portion of the ceiling at Terminal 3 of the Indira Gandhi International Airport (IGI Airport) in New Delhi, India, collapsed, resulting in the tragic death of one person and injuries to eight others. The incident occurred in the arrival area of the terminal, which is one of the busiest airports in the country.
Following the incident, the Union Minister of Civil Aviation, Ram Mohan Naidu Kinjarapu, ordered a comprehensive structural safety audit of all airport buildings in India. He emphasized the need for proactive measures to prevent such incidents from recurring.
Structural Safety Audit at Srinagar Airport
In response to the Delhi airport collapse, the Srinagar International Airport in Jammu and Kashmir has initiated a structural safety audit of its buildings. The audit will be conducted by the National Institute of Technology (NIT) Srinagar, and a report will be submitted to the Ministry of Civil Aviation.
According to Javed Anjum, the director of Srinagar Airport, regular inspections and thorough checks have been conducted to ensure the safety of the airport's structures. The audit will provide additional assurance and help identify any potential risks.
Top 5 FAQs and Answers
1. What caused the roof collapse at IGI Airport?
The exact cause of the roof collapse is still under investigation. Preliminary reports suggest that a portion of the false ceiling may have been weakened by moisture or other factors, leading to its collapse.
2. What measures are being taken to prevent future incidents?
The Ministry of Civil Aviation has ordered a comprehensive structural safety audit of all airport buildings in India. This will help identify any potential risks and ensure the safety of airport infrastructure.
3. Is Srinagar Airport safe to use?
Srinagar Airport has initiated a structural safety audit to ensure the safety of its buildings. Regular inspections and thorough checks have also been conducted. Passengers can be assured that the airport is taking all necessary measures to prevent incidents.
4. What are the implications of the roof collapse for air travel in India?
The roof collapse has raised concerns about the safety of airport infrastructure in India. The structural safety audit ordered by the government is a positive step towards addressing these concerns and ensuring the safety of air travelers.
5. Have there been any other major airport roof collapses in the past?
Yes, there have been several major airport roof collapses in the past. In 2018, a portion of the ceiling at Terminal 5 of Schiphol Airport in Amsterdam, Netherlands, collapsed, injuring 4 people. In 2014, a ceiling panel fell from the ceiling at Kuala Lumpur International Airport in Malaysia, resulting in the death of a woman.
Rishi Shah and Shradha Agarwal, two co-founders of Chicago-based health tech firm Outcome, have been convicted and sentenced for committing a $1 billion fraud scheme. Shah, a former billionaire and Outcome's former CEO, received a seven-and-a-half year prison sentence, while Agarwal, the former president, was sentenced to three years in a halfway house. The fraud, exposed by Wall Street Journal in 2017, involved selling advertising inventory that the company did not own and under-delivering on ad campaigns. Several high-profile investors, including Goldman Sachs and Google-parent Alphabet, were targeted in the scheme.
Emcure Pharmaceuticals has raised a significant amount of funding through its anchor book, with notable global investors such as the Abu Dhabi Investment Authority, Goldman Sachs, and Morgan Stanley participating. The company has also secured investments from several mutual funds, insurance companies, and other institutional investors. This capital will allow Emcure to strengthen its position in the pharmaceutical industry and continue its growth and development.
With the monsoon session of Parliament approaching, all eyes are on Finance Minister Nirmala Sitharaman as she presents Modi 3.0 government's first Union Budget. As expectations of potential populist measures and tax relief initiatives rise, employed taxpayers are hoping for changes in the exemption for House Rent Allowance (HRA) under the old tax regime. Experts suggest that revisiting the classification of HRA exemptions, which has remained unchanged for over three decades, could provide significant financial relief for taxpayers residing in rapidly growing non-metro cities. Additionally, the government may introduce incentives to encourage transition from the old tax system to the new one, ultimately boosting middle-class consumption and GDP figures.
Foreign brokerage Bernstein has recommended an 'outperform' rating on power financiers PFC and REC, citing underestimation of the current power cycle by investors and lower NPA risks. The targets set are Rs 620 for PFC and Rs 653 for REC, implying potential gains of over 23% and 21% respectively. Despite recent rallies, these stocks are trading at cheaper valuations and offer better returns for investors. Stay updated on the latest business and stock market news, and manage your finances with our useful tools and resources.
HDFC Bank, one of the leading private sector banks in India, experienced a surge in its stock price today, hitting a 52-week high on the NSE at ₹1,794. The stock price rose by 3.07% on the NSE, trading at ₹1,783.65 as of 11:26 am. This increase in stock price is a positive indicator of the bank's performance and may attract investors looking for profitable options in the stock market.
The Goods and Services Tax (GST) has been a key factor in India's economic growth, with Finance Minister Nirmala Sitharaman expected to prioritize GST numbers in the upcoming Budget. In April 2024, GST collection hit a new high of ₹2.1 lakh Crore, indicating the resilience of the economy and reducing the load on government budgets. With strong tax collection, the government can focus on its capex plan and welfare initiatives, while also considering the concerns of coalition partners.
On July 3, 2024, oil marketing companies (OMCs) in India have released fresh prices for petrol and diesel, which are revised daily at 6 am. Amid fluctuations in international crude oil prices, these changes affect the amount customers have to pay for a litre of fuel. However, after seeing a steady rate since May 2022, the prices have now started increasing post March 2024. Check the city-wise rate table to know the latest cost of petrol and diesel in India.
The Air India Express Employees Union, affiliated with the Bharatiya Mazdoor Sangh, has written to the Chief Labour Commissioner alleging various unfair labor practices by the airline. These include issuing charge sheets to members and disrupting industrial relations. This comes amid conciliation proceedings between cabin crew members and airline management.
In the first quarter of 2024, Hannover Re exceeded expectations with a 15% increase in group net income, reaching €558 million. Reinsurance revenue also saw growth, rising by 1.6% to €6.7 billion. The company's shareholders' equity and capital adequacy ratio both remained strong, at €10.9 billion and 266.8% respectively. In the property and casualty reinsurance segment, risk-adjusted prices and conditions improved, leading to a 3.1% increase in gross reinsurance revenue. In life and health reinsurance, demand remained strong for financial solutions and longevity risk protection. Overall, Hannover Re expects continued growth in 2024, with a forecasted group net income of at least €2.1 billion.
After Redstone abruptly pulled out of earlier merger, reconciliation follows the media company's updated strategic plan. The deal also includes a "go-shop period" for other interested bidders to make offers. The messy and erratic M&A process has been ongoing for more than six months and has seen interest from investment groups and private equity giants. Following the withdrawal from prior Skydance arrangement, Paramount shifts its attention to updated strategic plan, with focus on annual cost savings and asset sell-offs. Though the Skydance deal has delivered promising news, a new round of layoffs and departure of key executives continue to highlight Paramount's need for a transaction.