Executive Summary 4 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016 EXECUTIVE SUMMARY 0.1 INTRODUCTION 0.1.1 Background Pune is well known as the ‘Queen of Deccan’ due to its scenic beauty and rich natural resources. Besides, it is famous for its religious and historical places Pune is the 9th most populous city in India and the second largest in the state of Maharashtra after the state capital Mumbai. Pune is also the 101st largest city in the world, by population. Pune city is the administrative headquarters of Pune district and was once the center of power of the Maratha Empire established by ShivajiMaharaj. In the 18th century, Pune became the political center of the Indian subcontinent, as the seat of the Peshwas who were the prime ministers of the Maratha Empire. Pune is considered the cultural capital of Maharashtra. Since the 1950s and 1960s, Pune has had a traditional old-economic base. Most of the old industries continue to grow. The city is also known for its manufacturing and automobile industries, as well as for research institutes of information technology (IT), education, management and training, which attracts migrants, students, and professionals from India, South East Asia, the Middle East, and Africa. Pune is also one of the fastest growing cities in the Asia-Pacific region. The ‘Mercer 2015 Quality of Living rankings’ evaluated local living conditions in more than 440 cities around the world where Pune ranked at 145, second in India after Hyderabad. It also highlights Pune among evolving business centers and emerging nine cities around the world with citation "Hosts IT and automotive companies". 0.1.2 Demographic Profile As per Census of India 2011, Pune population is 31,24,458 numerically housing 7,42,602 households. The population density of Pune Municipal Area is 12,814 persons per sq. Km. PimpriChinchwad Municipal Corporation serves a population of 17,27,692 with 4,27,356 households. Pune Cantonment and Khadki Cantonment Areas cater population of 71,781 and 78,684 with 15,102 and 16,266 households respectively. 0.1.3 Economy The Hinjawadi IT Park (officially called the Rajeev Gandhi IT Park) is a project being started by MIDC to house the IT sector in Pune. When completed, the Hinjawadi IT Park is expected to encompass an area of about 2,800 acres (11 km 2 ). The estimated investment in the project is Rs. 600 billion, to facilitate economic growth, the government made liberal incentives in its IT and ITES Policy, 2003 and leased properties on MIDC land. The IT sector employs more than 70,000 people. Software giant Microsoft intends to set up a Rs. 7.0 billion project in Hinjawadi.
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Executive Summary
4 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
EXECUTIVE SUMMARY
0.1 INTRODUCTION
0.1.1 Background
Pune is well known as the ‘Queen of Deccan’ due to its scenic beauty and rich
natural resources. Besides, it is famous for its religious and historical places Pune is
the 9th most populous city in India and the second largest in the state of Maharashtra
after the state capital Mumbai. Pune is also the 101st largest city in the world, by
population. Pune city is the administrative headquarters of Pune district and was
once the center of power of the Maratha Empire established by ShivajiMaharaj. In the
18th century, Pune became the political center of the Indian subcontinent, as the seat
of the Peshwas who were the prime ministers of the Maratha Empire.
Pune is considered the cultural capital of Maharashtra. Since the 1950s and 1960s,
Pune has had a traditional old-economic base. Most of the old industries continue to
grow. The city is also known for its manufacturing and automobile industries, as well
as for research institutes of information technology (IT), education, management and
training, which attracts migrants, students, and professionals from India, South East
Asia, the Middle East, and Africa. Pune is also one of the fastest growing cities in the
Asia-Pacific region. The ‘Mercer 2015 Quality of Living rankings’ evaluated local
living conditions in more than 440 cities around the world where Pune ranked at 145,
second in India after Hyderabad. It also highlights Pune among evolving business
centers and emerging nine cities around the world with citation "Hosts IT and
automotive companies".
0.1.2 Demographic Profile
As per Census of India 2011, Pune population is 31,24,458 numerically housing
7,42,602 households. The population density of Pune Municipal Area is 12,814
persons per sq. Km. PimpriChinchwad Municipal Corporation serves a population of
17,27,692 with 4,27,356 households. Pune Cantonment and Khadki Cantonment
Areas cater population of 71,781 and 78,684 with 15,102 and 16,266 households
respectively.
0.1.3 Economy
The Hinjawadi IT Park (officially called the Rajeev Gandhi IT Park) is a project being
started by MIDC to house the IT sector in Pune. When completed, the Hinjawadi IT
Park is expected to encompass an area of about 2,800 acres (11 km2). The
estimated investment in the project is Rs. 600 billion, to facilitate economic growth,
the government made liberal incentives in its IT and ITES Policy, 2003 and leased
properties on MIDC land. The IT sector employs more than 70,000 people. Software
giant Microsoft intends to set up a Rs. 7.0 billion project in Hinjawadi.
Executive Summary
5 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
As one of the largest cities of India and major centre of learning with several colleges
and universities, Pune is emerging as a prominent location for IT and manufacturing.
Pune has the eighth largest metropolitan economy and the sixth highest per capita
income in the country.
The automotive sector is prominent in Pune. It is home to the Automotive Research
Association of India, which is responsible for the homologation of all vehicles
available in India. All sectors of the automotive industry are represented, from two-
wheelers and auto rickshaws to cars, tractors, tempos, excavators, and trucks.
Automotive companies like Tata Motors, Mahindra & Mahindra, Mercedes Benz,
Force Motors (Firodia-Group), Kinetic Motors, General Motors, Land Rover, Jaguar,
Renault, Volkswagen, and Fiat have set up greenfield facilities near Pune, making
Pune as India's leading "Motor City".
The Kirloskar Group was the first to bring industry to Pune by setting up Kirloskar Oil
Engines Ltd. in 1945 at Kirkee in Pune. The Group was originally set up in
Kirloskarwadi. Kirloskar Brothers Limited (India's largest manufacturer and exporter
of pumps and the largest infrastructure pumping project contractor in Asia, Kirloskar
15. Staff Toilets 16. Commercial Outlets and Kiosks
17. Station Store Room 18. UPS and Battery Room
19. Refuse Store 20. Signaling / Communication Room
Executive Summary
14 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
0.7 TRAIN OPERATION PLAN
The underlying operation philosophy is to make the Metro System more attractive
and economical, the main features being:
Selecting the most optimum frequency of Train services to meet sectional capacity
requirement during peak hours on most of the sections.
Economical & optimum train service frequency not only during peak period, but also
during off-peak period.
A train consists of 3 coaches with high frequency service which can be increased to 6
coaches to meet future requirements.
Multi-tasking of train operation and maintenance staff.
Details of stations for Pune Metro Megapolis Circle (Hinjawadi) to Civil Court (Shivaji
Nagar) Corridorare given below:
Table 0.12 -Details of Stations
S. No Station Name Chainage
(m)
Inter Distance Between
Two Stations.
DEAD END -405.00
1 Megapolis Circle 0.00
2 Quadran 1190.60 1190.60
3 Dohler 2093.97 903.37
4 Infosys Phase II 3095.21 1001.24
5 Wipro Technologies Phase II 4002.13 906.92
6 Pall India 5270.54 1268.41
7 ShivajiChowk 6274.11 1003.57
8 Hinjawadi 7270.35 996.24
9 WakadChowk 8650.61 1380.26
10 Balewadi Stadium 10267.97 1617.36
11 NICMAR 10813.27 545.30
12 Ram Nagar 11722.13 908.86
13 Laxmi Nagar 12451.70 729.57
14 BalewadiPhata 13162.47 710.77
15 BanerGaon 14339.21 1176.74
16 Baner 15349.38 1010.17
17 KrushiAnusandhan 16578.15 1228.77
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15 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
S. No Station Name Chainage
(m)
Inter Distance Between
Two Stations.
18 Sakal Nagar 17864.04 1285.89
19 University 18835.02 970.98
20 R.B.I 20049.22 1214.20
21 Agriculture College 20754.05 704.83
22 Shivaji Nagar 21562.84 808.79
23 Civil court 22523.40 960.56
DEAD END 22928.40 405.00
0.7.1 Salient Features
Running of services for 19 hours of the day (5 AM to Midnight) with a station dwell
time of 30 seconds,
Make up time of 5-10% with 8-12% coasting.
Scheduled speed for this corridor has been taken as 35 Kmph.
* @ 8 persons per square meter of standee area
0.16.4 Provisions at Metro Stations/Other Installations
To prevent emergency situations and to handle effectively in case ‘one arises’ there
needs to be following provisions for an effective system which can timely detect the
threats and help suppress the same.
(A) FIRE DETECTION AND SUPPRESSION SYSTEM
(B) SMOKE MANAGEMENT
(C) ENVIRONMENTAL CONTROL SYSTEM (ECS)
(D) TRACK-WAY EXHAUST SYSTEM (TES)
(E) STATION POWER SUPPLY SYSTEM
(F) DG SETS& UPS
(G) LIGHTING SYSTEM
(H) STATION AREA LIGHTS
(I) SEEPAGE SYSTEM
(J) WATER SUPPLY AND DRAINAGE SYSTEM
(K) SEWAGE SYSTEM
(L) ANY OTHER SYSTEM DEEMED NECESSARY
The above list is suggestive not exhaustive actual provisioning has to be done based
on site conditions and other external and internal factors.
Executive Summary
16 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
0.18 COST ESTIMATE
Project Cost estimates for Megapolis Circle (Hinjawadi) – Civil Court (Shivaji Nagar)
Corridor of Pune Metro has been prepared covering civil, electrical, signaling and
telecommunication works, rolling stock, environmental protection, rehabilitation,
considering 25 kV AC traction etc. at June 2016 price level.
The overall Capital Cost for the Megapolis Circle (Hinjawadi) – Civil Court (Shivaji
Nagar) Corridor of Pune Metro at June 2016 price level works out to
Rs.5549Croresexcluding applicable Taxes & Duties of Rs. 981 croresas tabulated
hereunder.
Table 0.19 –Summary of Cost Estimate
Sr. No. Name of the corridor Capital Cost
(Rs. Crore)
Taxes & Duties
(Rs. Crore)
Total
(Rs. Crore)
1. Megapolis Circle (Hinjawadi)
– Civil Court (Shivaji Nagar)
5549
981
6530
Table 0.20 - Capital Cost Estimate
March 2016 level
S. No. Item
Amount (Rs. in
Cr.)
Without taxes
1.0 Land and R & R 1559.36
2.0 Alignment and Formation 584.29
3.0 Station Buildings 933.33
4.0 Depot 173.50
5.0 P-Way 179.50
6.0 Traction & power supply incl. OHE , ASS etc. Excl. lifts
& Escalators 282.86
7.0 Signalling and Telecom. 518.06
8.0 Misc. Utilities, roadworks, other civil works such as
median stn. signages Environmental protection 214.21
9.0 Rolling Stock (2.9 m wide Coaches) 570.00
10.0 Capital expenditure on security 5.52
11.0 Staff quarter for O & M 54.33
12.0 Capital expenditure on Multimodal Traffic Integration 55.89
13.0 Total of all items except Land 3663.00
14.0 General Charges incl. Design charges @ 7 % on all
items except land 256.41
15.0 Total of all items including G. Charges except land 3919.41
16.0 Contingencies @ 3 % 117.58
17.0 Gross Total 4036.99
Cost without land 4037
Cost with land including contingencies on land 5549
Table 0.21 - Details of Taxes and Duties
Customs duty =23.4155%
Excise duty = 12.50 %
Executive Summary
17 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
VAT = 12.5%
LBT = 4%
S.
No. Description
Total cost
without
Taxes &
duties (Cr.)
Taxes and duties
LBT
Total
taxes &
duties
(Cr.)
custom
duty
(Cr.)
excise
duty
(Cr.)
VAT
(Cr.)
Service
Tax
(Cr.)
1 Alignment & Formation
Elevated, Depot entry &Spl Span 584.29
51.13 57.52 21.91 12.71 143.26
2 Station Buildings
Elevated station - civil works 575.72
50.38 56.67 21.59 12.52 141.16
Elevated station-EM works 159.85 7.49 13.59 15.29 5.99 5.07 47.42
OCC bldg-civil works 55.00
4.81 5.41 2.06 1.20 13.49
OCC bldg-EM works 25.00 1.17 2.13 2.39 0.94 0.79 7.42
3 Depot
Civil works 90.00 6.32 5.51 6.20 3.38 2.04 23.45
EM works 83.50 3.91 7.10 7.98 3.13 2.65 24.77
4 P-Way 179.50 33.62 3.81 4.29 6.73 6.07 54.54
5 Traction & power supply
Traction and power supply 282.86 26.49 18.03 20.29 6.36 9.17 80.34
6 S and T Works
S & T 385.81 72.27 9.65 10.85 8.68 13.10 114.54
AFC 132.25 23.23 4.13 4.65 2.98 4.47 39.45
PSD 117.76 22.06 2.94 2.48 2.65 4.00 34.13
7 R & R hutments 91.50
5.72
1.83 7.55
8 Misc.
Civil works 247.10
21.62 24.32 9.27 5.37 60.59
EM works 82.86
8.80 9.90 3.11 2.57 24.38
9 Rolling stock 570.00 117.45 5.56 6.25 12.83 22.18 164.26
Total 3663.00 314.01 209.19 240.23 111.60 105.72 980.75
Total taxes & Duties
981
0.19 FINANCING OPTIONS, FARE STRUCTURE AND FINANCIAL VIABILITY:
The Pune Metro rail project from Megapolis Circle (Hinjawadi) to Civil Court (Shivaji
Nagar) is proposed to be constructed with an estimated cost of Rs. 5446.00 Crore
with Central Taxes and land cost excluding State Taxes and Local Body Tax (LBT).
The corridor-wise length and estimated cost at June - 2016 price level without central
taxes, with central taxes and with all taxes is placed in table 0.22 as under:
Table 0.22 Cost Details
Sr.
No. Name of Corridor
Distance
(km)
Estimated Cost with
Land cost and
without taxes at
June-2016 Price
Level
Estimated Cost
with Central
taxes & Land
cost at June-
2016 Price Level
Estimated Cost
with All taxes &
Land cost at
June-2016
Price Level
I
Megapolis Circle (Hinjawadi) to
Civil Court (Shivaji Nagar)
Corridor
23.330 5549.00 6184.00
6530.00
The estimated cost at June-2016 price level includes Rs. 1559.36Crore as land cost
including R&R cost. The estimated cost at June-2016 price level also includes an
amount of Rs. 5.52 Crore as one-time charges of security personal towards cost of
weapons, barricades, and hand held and door detector machine etc. However, the
Executive Summary
18 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
recurring cost of Rs. 1.14Crore per station per annum at June-2016 price level
towards operation cost of CISF has been taken in to account in FIRR calculation.
It is assumed that the construction work will start in April-2017 & expected to be
completed by 31.03.2021 with Revenue Opening Date (ROD) as 01.04.2021. The
total completion costs duly escalated and shown in the table 0.23 have been taken
as the initial investment. The year-wise cash outgo is shown in Table –0.23 as
below.
Table 0.23 Year –wise Investment
Figures in Rs. Crore
The cost of Land of Rs. 1835 Crore included in the above completion cost will be
provided free of cost by the Maharashtra Government.
0.19.1 Additional Investment
Total investment provided in the FIRR calculation towards requirement of additional
rolling stock to take care of incremental traffic, duly escalated @ 5% PA is placed in
Table 0.24 as under: -
Table 0.24 - Additional Investment towards Rolling Stock
(Rs. in Crore)
0.19.2 Fare Structure
Financial
Year
Estimated Cost including cost of land
and all taxes & duties at June -2016
Price Level
Completion Cost including
cost of land cost and central
taxes & duties
2017-18 630.50 659.000
2018-19 1088.50 1205.000
2019-20 1317.50 1546.000
2020-21 1546.50 1924.000
2021-22 916.00 1208.000
2022-23 458.00 640.000
2023-24 227.00 336.000
Total 6184.00 7518.00
Year No. of Cars Amount with all
Taxes
2024-25 24 457.00
2031-32 30 803.00
2041-42 21 916.00
Total 75 2176.00
Executive Summary
19 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
The Delhi Metro Fares structure was fixed by a fare fixation committee in 2009. The
fare structure of Pune Metro for the FY 2021-22 has been assumed based on the
increase in the Consumer Price Index (CPI) and input costs of operation, the fare
structure has been escalated by using @15.00% once in every two years and
rounded to nearest Rs.10/- to arrive at the initial fare structure for Pune Metro so that
tendering change at the stations may not pose problem, which is placed in Table
0.25.
Table 0.25 – Fare Structure in 2021-22
Distance in km DMRC Fare as
Revised in 2009
Pune Metro Fare (Rs.)
in 2020-21
0-2 8 10
2-4 10
20
4-12 30
12-18 12 40
>18 15 50
0.19.3 Other sources of revenues
Other revenues from Property Development and advertisement have been estimated at 10% of the fare box revenues during operations. Apart from development of property on metro stations and depot it is possible to raise resources through leasing of parking rights at stations, advertisement on trains and tickets, advertisements within stations and parking lots, advertisements on viaducts, columns and other metro structures, co-branding rights to corporate, film shootings and special events on metro premises. PMRDA vide letter no. EG/shiihinmr/File No. 2/10.16/412/Shakha-I dated 27th October 2016 has informed the details of additional revenue from premium on 4 FSI and surcharge on registration fees and stamp duty on property sales. It has been proposed to permit 4 FSI in the vicinity of 500 meter of both sides of the metro corridor. The project influence area considered is 1 KM wide (i.e. 500 meter on both sides) and 23.30 KM long. Out of this project influence area only 37% of the area is considered for 4 FSI and rest is deducted due to presence of military areas, University area, water bodies, roads etc. Further, out of 37% area available nearly 75% area is deducted for small flats, old buildings, and highly congested rented building which has no scope for development. On the remaining net area, a premium rate of Rs. 10,000/- per Sq. m. has been assumed to arrive at the final figure of Rs. 6466/- crore at 2015-16 price level for 26 years of operation. The revenue is applied over the 26 years of operation by applying a modest 2.50% annual increase. The surcharge on stamp duty at a rate of 1% collected in Rural area in the year 2015-16 is Rs. 216 Crores. It has been proposed that the 50% of the surcharge collected is to be utilised for Hinjawadi-Shivajinagar Metro project. This is further escalated @ 2.50 % annually. Thus at the starting year i.e. 2021-22, the additional revenue from premium on 4 FSI in project influence area and surcharge on registration fees and stamp duty on property sales is worked out as Rs 281 Cr and Rs. 122 crore respectively.
Executive Summary
20 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
0.19.5.2 Public Private Partnership Mode
Public Private Partnership (PPP) arrangements are steadily growing in use
particularly in road, power, and telecom sectors which are more of commercial nature
rather than in a social sector project. PPP models are arrayed across a spectrum
ranging from BOT where the private sectors have total involvement to other tailor
made models where both public and private sector assume separate responsibilities.
A few alternatives which can be selected in this regard are: -
BOT Model: In this model, the private firm will be responsible for financing,
designing, building, operating and maintaining of the entire project. The contribution
of Government of Maharashtra will be limited to cost of land only. Such a project
become eligible for Viability Gap Funding (VGF) upto 20% from the Central
Government provided the state government also contribute same amount towards
the project. The metro being a social sector project may not attract much private
parties. Besides quite expectedly the private operator may demand assured rate of
return in the range of 16% to 18% (Equity IRR) or a comfort of guaranteed ridership
etc.
The funding pattern assumed under this model to ensure 18% as EIRR is placed in
table 0.27 as under:
Table 0.27Funding pattern under BOT model with additional income
Particulars Amount (Rs/Crore) % of contribution
VGF by GOI 1137.00 20.00%
VGF by GOM 812.00 14.30%
Equity by Concessionaire 1245.00 21.91%
Concessionaire’s debt @12% PA 2489.00 43.79%
Total 5683.00 100.00%
Land Free by GOM/ULB 1835.00
Total 7518.00
State Taxes by GOM/ULB 429.00
Total 7947.00
IDC 366.00
Total including IDC 8313.00
Table 0.28 - Fund Contribution of GOI & GOM
(Rs. In crore)
Particulars SPV Model BOT
GOI 1137.00 1137.00
GOM & State’s/ULB
other contributions 3401.00 3076.00
Total 4538.00 4213.00
From the above, after considering the revenues from other sources, BOT appears to
be viable but there are other large number of factors for which this mode is not
recommended. Hence, it is suggested that the project be implemented under SPV
mode as per the funding pattern given in Table 0.26.
Executive Summary
21 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
0.20 ECONOMIC APPRAISAL
0.20.1 Introduction
Economic appraisal of a project starts from quantification of measurable economic
benefits in economic money values, which are basically the savings of resource cost
due to introduction of the metro line. Economic savings are derived from the
difference of the cost of the same benefit components under ‘with’ and ‘without’
metro line. Total net savings/or benefit is obtained by subtracting the economic cost
of the project (incurred for construction (Capital) and maintenance (recurring) costs
for the metro line) from the benefits out of the project in each year. The net benefit
value which would be negative during initial years becomes positive as years pass.
Internal rate of return and benefit cost ratio are derived from the stream.
The sources from where economic savings occur are identified first. Although there
are many kinds of primary, secondary and tertiary benefits, only the quantifiable
components are taken to measure the benefits. These components are quantified by
linking with the number of passengers shifted to metro and the passenger km saved
by the trips which are shifted from road/rail based modes to metro. It may be
observed that first four benefit components (given in Table 0.29)are direct benefits
due to shifting of trips to metro, but other benefit components are due to
decongestion effect on the road. Benefit components were first estimated applying
market values then were converted into respective economic values by using
separate economic factors which are also given in table 0.29. Depending upon
methodology of estimation, economic factors are assumed. Overall economic value
of benefit components is 93% of the market value. No economic factor for the cost
components are assumed as these are 100% for the completion cost, 82.26%for
fixed cost and 71.56% for the economic cost.
Table 0.29: Benefit Components due to Metro
S.No. Benefit Components Economic Factors
1 Annual Time Cost Saved by Metro Passengers in Cr. Rs. 100%
2 Annual Fuel Cost Saved by Metro Passengers in Cr. Rs. 80%
3 Annual Vehicle Operating Cost Saved by Metro Passengers
in Cr. Rs. 80%
4 Emission Saving Cost in Cr. Rs. 100%
5 Accident Cost in Cr. Rs. 100%
6 Annual Time Cost Saved by Road Passengers in Cr. Rs. 100%
7 Annual Fuel Cost Saved by Road Passengers in Cr. Rs. 80%
8 Annual Infra Structure Maintenance Cost 100%
0.20.2 Economic Performance Indicators
After generating the cost and benefit stream table, values of economic indicators are
derived and are presented in table 0.30. Project period is 2017-2047;
EIRR at fixed rate is found to be 19.05% and B/C ratio as 4.67 and with 12 %
discount, EIRR is 6.29% and B/C ratio is 1.78.
Executive Summary
22 DPR for Megapolis Circle (Hinjawadi) to Civil Court (Shivaji Nagar) Metro Rail Corridor October 2016
EIRR at present rate is found to be 16.54% and B/C ratio as 3.84 and with 12 %
discount, EIRR is 4.05% and B/C ratio is 1.47.
EIRR (fixed cost excluding all taxes-economic value) is found to be 20.95% and
B/C ratio as 5.37 and with 12 % discount, EIRR is 7.99% and B/C ratio is 2.05.
Table 0.30 Economic Indicator Values
PUNE Full Metro
Network WITHOUT DISCOUNT WITH DISCOUNT (12%)
Benefits in year 2047 FIXED CURRENT ECONOMIC FIXED CURRENT ECONOMIC