0:00 Indian markets are trading again after a holiday, absorbing a sharp fall from Monday that saw the Sensex drop over 876 points.0:08 In our last briefing, we spoke of the nation's economy; today, that picture includes pressure from weak bank earnings and crude oil holding above 108 dollars a barrel.0:20 As a reminder, this is general information and not financial advice.0:24 Elsewhere, several key developments are taking shape.0:28 US Secretary of State Marco Rubio is in Gujarat today, visiting Reliance’s Jamnagar refinery complex to discuss the processing of Venezuelan crude.0:38 In Delhi, millions of central government employees are watching to see if today's cabinet meeting will finally announce an expected three percent hike in their Dearness Allowance.0:50 And a new report from the government's Periodic Labour Force Survey for August has put youth unemployment at a concerning fifteen point one percent, three times the overall rate.1:02 Meanwhile, student protests at Jawaharlal Nehru University have now entered their nineteenth day, with some on an indefinite hunger strike.1:12 And in Delhi, a winter action plan to combat pollution begins on November first, banning vehicles that don't meet BS-VI emission standards from entering the city.1:23 The story with the most far-reaching consequences, however, may be the one about how you will move around India’s cities in the decades to come.1:33 The Ministry of Road Transport has finalised a remarkable new policy to build a network of access-controlled ring roads and bypasses around hundreds of urban centres.1:44 The ambition is extraordinary.1:46 The plan is to separate long-distance traffic from local city traffic, preserving highway speeds and preventing the urban sprawl that typically clogs new infrastructure.1:58 These will be closed, tolled roads, where you pay for the distance you travel.2:03 The initial programme aims for ten thousand kilometres of these new roads, costing an estimated two trillion rupees.2:11 It will begin with cities of half a million people or more, before expanding.2:16 It is, in essence, an attempt to build a buffer around the future growth of India's cities, keeping arteries clear before they have a chance to harden.2:27 The question, of course, is whether a nation can build new roads fast enough to outpace both its traffic and the urgent need for jobs for the millions of young people currently standing still.2:40 It is a remarkable story of a country planning for a future of movement, whilst grappling with a present of economic uncertainty.
