Connect with us

Business

Virtual bilateral summit between Mahinda Rajapaksa and PM Modi will hold on Saturday.

Published

on

Prime Minister Narendra Modi and his Sri Lankan counterpart Mahinda Rajapaksa will hold a virtual bilateral summit on September 26, the Ministry of External Affairs said on Wednesday.

The ministry said the summit will give an opportunity to the two leaders to comprehensively review the broad framework of the bilateral relationship. The two leaders are expected to deliberate on a host of issues like ways to further deepen anti-terror cooperation, boost overall defence and trade ties as well as implementation of India’s development projects in Sri Lanka.

The long-pending Tamil issue in Sri Lanka is also likely to figure in the talks.India has been pitching for fulfilling the aspirations of the Tamil community in the island nation.

“The virtual bilateral summit will give an opportunity to the two leaders to comprehensively review the broad framework of the bilateral relationship soon after the Parliamentary elections in Sri Lanka and in the context of the time-tested friendly ties between the two countries,” the MEA said in a statement.

Last month, Rajapaksa was sworn in as Sri Lankan prime minister for a fresh term after his party, Sri Lanka People’s Front, secured a two-thirds majority in the parliamentary polls.

Automobile

Electric vehicle versus Fuel vehicle: Which is more affordable and cheap

Published

on

The electric vehicle industry is booming, but the biggest drawback for the consumer is that they are priced much higher than the traditional fuel vehicles. However, at a time when filling-up a full tank of petrol scooters and motorcycles is fast becoming a dream for many, the alternative to it — electric two-wheelers — seems to offer better running price realisation in the long term.

According to investment bank and financial services firm Morgan Stanley, battery-powered two-wheelers are cheaper to own and run than petrol and diesel equivalents. The running cost of electric vehicles is nearly 5% lower annually compared to a gasoline petrol vehicle, the report showed.

The maths of cheaper electric vehicles

The petrol and diesel prices across the country continued their northward march taking its retail rates to unprecedented levels and burning bigger holes in the consumer’s pockets. The electric vehicle as an option weighs heavy.

Although the fact that EVs are priced significantly higher than the vehicles running on fuel have kept people away from them. But once the infrastructure is in place, the cost really comes down to the electricity unit price, which is much lower than the fuel rates. No matter what the price of crude oil is around the world, in India, the average fuel rates have always remained at ₹70 and ₹80 per litre for diesel and petrol, respectively.

Under the bare minimum conditions, the math becomes even clearer — unit price of electricity multiplied by battery size is equivalent to the cost of running an EV. This also eradicates high fuel costs and provides cheaper maintenance and tax. Electric vehicles also hold their value for longer compared to fuel vehicles, according to a Europe based firm study.

 

Continue Reading

Trending