The Centre's ambitious Rs 6-trillion National Monetisation Pipeline (NMP) could fall short of yearly targets for the current fiscal year (FY22) and the next one as well (FY23), partly due to the long gestation period in monetising big-ticket railway infrastructure, Business Standard has learnt from sources in the finance and rail ministries. Officials say the major chunk of railway monetisation will happen from FY24 onwards because leasing some of the infrastructure, like stadiums and dedicated freight corridor, will not happen anytime soon. Rail infra is expected to be the second-biggest contributor to the NMP, with about Rs 1.52 trillion worth of assets to be monetised.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
'We were sleeping when suddenly we heard the sounds of bombs exploding'
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
The Reserve Bank of India's action against Reliance Capital comes at a time when the Anil Ambani group was planning to make a comeback with the group company, Reliance Infrastructure, raising funds from the promoter family. As part of the comeback plan, Reliance Infrastructure received Rs 550 crore fund infusion from the Anil Ambani family. A month earlier, Reliance Power, a listed subsidiary of Reliance Infrastructure, also raised funds from its parent by issuing preferential allotment of shares thus increasing the stake of Reliance Infrastructure in the company.
Union Minister Nitin Gadkari on Friday said he has asked US-based Tesla several times to manufacture its iconic electric vehicles in India, while assuring that all support will be provided by the government to the company. Addressing 'India Today Conclave 2021', Gadkari further said electric cars manufactured by Tata Motors are not less good than electric cars manufactured by Tesla. "I have told Tesla that don't sell electric cars in India which your company has manufactured in China.
'If one crore is sanctioned to make a road, they spend only Rs 40 lakhs and the remaining 60 lakhs is looted by the politician, bureaucrats and the contractor.'
Highlighting the role of MSMEs in enhancing exports and helping the country achieve self reliance, Union Minister Nitin Gadkari on Monday said India does not need to import from China. "Already in automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said the minister. He observed that India was exporting a lot of items instead of importing them.
To ensure free, fair and transparent assembly elections next month in Punjab, the police have intensified search operations, especially in the border districts, to keep a vigil on illegal activities in vulnerable areas.
In years past, we often approached the Budget expecting to see changes in direct and indirect taxes. Those days are behind us. The Budget of today seeks to expand the economy and keep it at the forefront of technology, observes Harsh Goenka.
Sporadic incidents of violence were reported in various parts of Kerala as the dawn-to-dusk hartal called by radical Islamic outfit Popular Front of India (PFI) was underway.
The past appears to have interrupted the future of the New Delhi Railway Station (NDLS). With two protected heritage buildings sitting in the way of the plan to redevelop the railway station, officials in the know say the project may end up back on the drawing board since the National Monuments Authority (NMA), the body tasked with the protection and preservation of monuments and sites, is yet to give its approval. "A nod from NMA is awaited before going into the next phase of bids for the redevelopment of the New Delhi Railway Station," a senior official of the Ministry of Railways told Business Standard. While the Railways ministry is hopeful of getting approvals from the NMA before the end of the current financial year, there is no clarity on this yet.
The gravity of the situation hit Tajinder Singh Dhillon hard when he happened to tune in to a news channel one evening a week ago.
The electric scooter juggernaut which has been picking up momentum with heady growth month-on-month is now slowing down. The combined number of registrations in April of eight electric two wheeler companies has seen a dip of over 1 per cent to 43,061 vehicles, according to data from the Ministry of Road Transport & Highways' site VAHAN. The reasons are the continuing shortage of chips, especially after the Ukraine-Russia war, and the spate of fires which have led to scooters being recalled by manufacturers.
IMAGES from the IPL match between Chennai Super Kings and Delhi Capitals.
Fintech giant Paytm claimed it is selling more FASTags than all the banks put together on a daily basis.
Maharashtra Congress chief Nana Patole on Thursday said if actors Amitabh Bachchan and Akshay Kumar do not take a stand on the issue of fuel price hike, then screening of their films and shootings would not be allowed in the state.
'It was felt that the counter-insurgency and counter-terrorist grid is intact in the UT and these additional units that were sent in last year can be de-inducted giving them the much required rest, recuperation and training'
While the most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips, a PwC report says implementation of a pan-India electronic toll collection system on national highways may help save approximately Rs 87,000 crore annually.
FASTag is a prepaid tag, affixed on vehicle's windscreen, that enables automatic deduction of toll charges and lets the vehicle pass through the toll plaza without stopping for the cash transaction.
Madhya Pradesh humbled domestic powerhouse Mumbai by six wickets in a one-sided final to win their maiden Ranji Trophy crown, at the M Chinnaswamy Stadium, in Bengaluru on Sunday. It was an achievement of sorts for coach Chandrakant Pandit, who exorcised the ghosts of losing one at the same venue 23 summers ago. It was a record sixth national title for Pandit as a coach.
Good roads and not the bad roads are responsible for accidents. If you see our highways, vehicles move at a speed of 100 kmph or 120 kmph, the deputy chief minister said.
At least 12 passengers were killed and two others missing after a Maharashtra state transport bus fell into the Narmada river from a bridge in Madhya Pradesh's Dhar district on Monday, officials said.
In the last five years, 37 bridges have collapsed in Uttarakhand. Another 27 bridges are on the brink of collapse. 'Our politicians don't view these bridge collapses as a setback.' 'Rather they see them as an opportunity to make more money.'
Syed Firdaus Ashraf/Rediff.com tracks Prime Minister Narendra Damodardas Modi's project-launching spree with just about three months to go for the assembly election in India's most populous state.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
How should one billion Indians, for whom deprivation has become an inescapable way of life, join us in celebrating 75 years of Independence? And where do we go from here? asks Kalyan Singhal.
Indian Oil Corporation (IOC) and two other public sector oil firms will install 22,000 electric vehicle (EV) charging stations over the next 3-5 years to support the nation's target to reduce its carbon intensity and reach net zero emissions by 2070. IOC, the country's largest state-controlled refiner by capacity, will set up EV charging facilities at 10,000 fuel outlets over the next three years, chairman Shrikant Madhav Vaidya said. Bharat Petroleum Corporation Ltd (BPCL) said it will set up 7,000 stations over the next five years while Hindustan Petroleum Corporation Ltd (HPCL) has plans for 5,000 stations.
India tops the world with 11% of global deaths in road accidents while we have only 1% of the world's vehicles.
In a first, a Mirage 2000 fighter aircraft successfully landed on the Yamuna Expressway.
Hopefully, all's well that ends well, and business should get back to normal soon, says Alok Chandra.
In a stern 'perform or take VRS' warning to officials sitting on files, Union Minister Nitin Gadkari on Thursday asked them not to become obstacles in the way of India achieving world class infrastructure.
On Wednesday night, the pre-wedding ritual of "haldi" was being performed.
Atique Ahmed is one of the most feared dons of Uttar Pradesh today. There was another don who preceded Atique and had he survived, Atique wouldn't have been around today, recalls Sudhir Bisht.
'Unless India ups the ante, Beijing will continue to believe its transgressions are cost free and will feel encouraged to do more of the same.'
The truck driver in Krishna Lanka locality was bored and played cards with his friends and neighbours while the women grouped up and played tambola.
Terming infrastructure as the "backbone" of any nation's development, Goyal while presenting the interim Budget for 2019-20 in the Lok Sabha said India aspires to be a USD 10 trillion economy in the next eight years, and on the anvil is next generation infrastructure of roads, railways, seaports, airports, urban transport, gas and electric transmission and inland waterways.
The tanker exploded after fuel leaking from its damaged container caught fire.
A number of Congress workers were accompanying Gandhi from Punjab's Patiala district, but the procession was stopped on the highway near Teokar village on Pehowa border for an hour. Before Gandhi arrived at the Punjab-Haryana border, senior Haryana police officials at the spot told reporters that they would not allow more than 100 people to gather at one place as per the guidelines in place due to the COVID-19 restrictions.
Noida SEZ has 400 units and around 100,000 workers, and was shut down on March 23.
