Gagangir (Sonamarg), Jan 13: Prime Minister Narendra Modi on Monday dedicated the Sonamarg tunnel in Kashmir to the nation after inaugurating and inspecting it.

The inauguration event was also attended by Nitin Gadkari, Union Minister for Surface Transport and Highways, Lt Governor Manoj Sinha and Chief Minister Omar Abdullah.

PM Modi interacted with the engineers and workers, whose hard work made the all-weather connectivity possible. He encouraged and patiently listened to the labourers in addition to gathering technical details about the Rs 2,700 crore tunnel.

The Prime Minister appreciated the hard work put in by everyone engaged in the construction of the tunnel under the most challenging weather and topography of the area.

PM Modi earlier landed in a special aircraft at the technical area of Srinagar International Airport from where he took an Air Force helicopter for Neelgrad in the Sonamarg.

The PM landed at the Neelgrad helipad and drove in a cavalcade to the Gagangir area, where he inaugurated the Sonamarg tunnel.

PM Modi will also address a public rally at the truck yard in Sonamarg. Hundreds of people, braving extreme cold, have already gathered at the Sonamarg public rally venue to listen to the PM. This is PM Modi’s first visit to the union territory after an elected government took office here.

Sonamarg tunnel will bypass the stretch of the Srinagar-Sonamarg highway that is prone to avalanches and heavy snowfall during the winter months.

The National Highways and Infrastructure Development Corporation Limited (NHIDCL) oversaw the Z-Morh tunnel constructed by APCO Infratech Private Limited for Rs 2,700 crore. The construction of the tunnel was started in 2018. This tunnel will make Sonamarg an all-weather tourist destination, thereby helping employment for local youth, and boosting trade, tourism, and traffic to the Ladakh region, Amarnath Yatra and businesses.

The tunnel is a 6.5 km long 2-lane road tunnel between Gagangair and Sonamarg in Ganderbal of Jammu and Kashmir. It was earlier called the Z-Morh tunnel because of the Z-shaped stretch of road that the tunnel has replaced (Z-Morh translates to “Z-turn” in English). It takes only 15 minutes to travel the 6.5 km long tunnel compared to hours over the zig-zag road up and down the hills.

The Zojila Tunnel being constructed across the Zojila Pass together with the Z-Morh tunnel will make the journey to the Ladakh region safer and possibly throughout the year.

Chief Minister Omar Abdullah visited the Gagangir area of Ganderbal district on Saturday. “Visited Sonmarg today to review preparations for PM @narendramodi ji’s visit on Monday. The inauguration of the Z-morh tunnel will open Sonmarg to tourism all year round, Sonmarg will now be developed as a great ski resort. The local population will not have to leave in winter & the travel time to Kargil/Leh from Srinagar will also reduce,” he wrote on X on January 11.

New Delhi, Jan 13: The Centre’s capital expenditure in big-ticket infrastructure projects such as highways, railways and power development and investments in critical sectors such as defence are expected to propel India’s economic growth in the financial year 2025- 2026 and beyond, according to a report by financial services firm Prabhudas Lilladher (PL).

“We are already witnessing an uptick in momentum in railways, defence, power, data Centers, etc., the execution of which will accelerate growth in FY26 and beyond,” the report states.

The government allocated a massive Rs 11.1 lakh crore for infrastructure projects in the budget for 204-25 and this is expected to be increased further in the forthcoming budget for 2025-26.

The anticipated measures to pump-prime the economy could provide the much-needed push to stimulate demand and support long-term growth, the report states.

The report states that the forthcoming budget will be instrumental in shaping the economic recovery, with expectations of a growth-driven focus aimed at boosting middle-class spending with inflation having eased.

In addition, sectors such as healthcare, tourism, discretionary consumption, and financialisation are poised to benefit from the recovery, according to the report.

The report’s observations on the economic revival are supported by the surge in industrial growth which touched a 6-month high of 5.2 per cent in November, up from 3.5 per cent in October of the current financial year (2024-25), according to data released by the Ministry of Statistics on Friday.

The increase also marks a significant rise over the industrial growth of 2.5 per cent recorded a year before in November 2023.

The growth rate of the manufacturing sector, which accounts for more than three-fourths of the index of industrial production (IIP), accelerated to 5.8 per cent during Nov 2024 from 4.1 per cent in October. This augurs well for employment generation as the sector plays a key role in providing quality jobs to the young graduates passing out from the country’s engineering institutes and universities.

The figures on use-based classification show that the production of capital goods, which comprise machines used in factories, went up by a robust 9 per cent. This segment reflects the real investment taking place in the economy which has a multiplier effect on the creation of jobs and incomes going ahead.

There was also a double-digit surge of 13.1 per cent in the production of consumer durables such as electronic goods, refrigerators, and TVs during November 2024 reflecting the higher consumer demand for these items amid rising incomes.

Tech giant Apple Inc. has increased its Chief Executive Officer (CEO) Tim Cook’s salary by 18 per cent, according to exchange filling of smartphone giant.

In its annual proxy filing on January 10, Apple disclosed that Cook’s total compensation for 2024 rose to USD 74.6 million (Rs 643 crore), up from USD 63.2 million (Rs 544 crore) in 2023. It cited the raise largely to an increase in stock award value.

The decision was made prior to the February 25, 2025, Annual General Meeting (AGM) of the company. Cook’s pay is one of four external proposals that investors will vote on during the meeting, according to a Bloomberg report.

Salary breakup of Tim cook’s salary

A base salary of USD 3 million, stock awards of USD 58 million, performance-based bonuses of USD 12 million, and other benefits totaling USD 1.5 million are all part of the compensation package.

Security costs, private jet travel, 401(k) contributions, life insurance premiums, and vacation cash-outs are all covered by the extra pay.

Comparison to previous years compensation

Although a significant increase over 2023, this still falls short of Cook’s nearly USD 100 million 2022 salary, which soared as a result of the stock awards in his compensation package, according to the report. He made a 2023 pay cut offer in response to criticism from shareholders and staff.

However, according to the report, Apple has resisted every other proposal. It further stated that a proposal from shareholders to terminate the company’s diversity, equity, and inclusion (DEI) program is one of the proposals that have been blocked.

No change in 2025 compensation

The document disclosed that, in light of Cook’s ‘continued exceptional performance’ as CEO, Apple’s board has not altered Cook’s 2025 compensation plan. Citing efficiency and security concerns due to his prominent position, the company mandates that Cook travel exclusively in private aircraft for both business and personal purposes.

General counsel Kate Adams, chief operating officer Jeff Williams, retail chief Deirdre O’Brien, and former CFO Lucia Maestri all made about $27.2 million in 2024, which represents a slight increase over the previous year.