Govt has already approached World Bank seeking termination of contract. The progress of the project was just 20 per cent though the contract was awarded in 2016.
The project will be in three stages and sources indicate that the funding will be for the first stage of 107 kilometre from Sarai Kale Khan to SNB Urban Complex.
Foreign Secretary Vinay Kwatra on Wednesday refused to speculate on whether the G20 foreign ministers' meeting would be able to come out with a joint communique against the backdrop of widening differences between the West and Russia on the Ukraine conflict.
Modi knew in his heart that India does not have the financial muscle to support the new bank with offers of co-financing international projects, something China can do from the bank's base in Shanghai. If established in Mumbai, it may have employed a few Indian bankers and satisfied the national ego but there was little financial value to be drawn from it.
Addressing a G20 Summit session, Modi also presented his '5-I' vision to maximise digital technology for social benefit.
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
Foreign ministers of G20 major economies will meet in the national capital on March 1 and 2 to deliberate on pressing global challenges amid escalating confrontation between Russia and the West over the Ukraine conflict that entered the second year this week.
With Lok Sabha elections months away, the visits are vital politically as these would showcase Modi's standing as a world leader to the home electorate.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
While the two high-profile exits in pharmaceutical and telecom have raised concerns over regulatory hassles in the country, Japanese investors are still keen to tap into India's consumer growth story and many more merger and acquisition deals are in the offing in this space.
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
The venture is seen as a rival to the World Bank.
The coming together of the Quad and the Australia-UK-US grouping would be a formidable adversary, moving toward the creation of a 'thousand ship navy' that reins in the PLA navy in the Indo-Pacific.
In the midst of rising global concern over China's military expansionism, India and three other member nations of the Quad on Thursday vowed to uphold a rules-based international order underpinned by respect for territorial integrity and sovereignty, freedom of navigation and peaceful resolution of disputes.
Following is the full text of Prime Minister Manmohan Singh's speech at the Central Party School in Beijing on Thursday:
Downplaying concerns of delay, Amitabh Kant, managing director of Delhi-Mumbai Industrial Corridor Development Corporation (DMIC), says the project will be delivered on time.
Wang began a two-day trip to Pakistan on Tuesday primarily to attend a meeting of the Council of Foreign Ministers of the Organisation Islamic Cooperation (OIC) as a special guest.
Yes, we (Quad) had a discussion on India-China relations because it was part of how we briefed each other about what was happening in our neighbourhood, Jaishankar said.
It was the second time in the last three days that India asserted that the relationship with China depends on the resolution of the pending issues in eastern Ladakh.
"Now is the time for countries with room in their budgets to deploy -- or get ready to deploy -- fiscal firepower. In fact, low interest rates may give some policymakers additional money to spend," new IMF chief Kristalina Georgieva said.
Instead of "the dragon and the elephant compete with each other", "the dragon and the elephant dance together, Chinese Foreign Minister Wang Yi said.
Officials said the World Bank, Japan International Cooperation Agency and Asian Development Bank had evinced interest in the project.
'Modi and Abe are working seriously for India-Japan bonhomie to grow stronger.' 'It is a win-win situation for both countries and the future look promising,' says Rajaram Panda, the Indian Council for Cultural Relations India Chair Visiting Professor at Reitaku University, Japan.
It will also provide support to the government for finalising the financial and implementation models.
United States Defence Secretary Lloyd J Austin arrived in India on Friday on a three-day visit, aimed at further boosting bilateral defence and security ties in the wake of China's growing military assertiveness in the region including the Indo-Pacific.
To facilitate foreign direct investment (FDI) in high- speed rail projects, the government is likely to allow private sector entry in operations.
The 190-km railway line will be between Dadri in Uttar Pradesh and Phulera in Rajasthan, which fall under the Western Dedicated Freight Corridor
'The crisis has strengthened America's resolve to work towards building its relationship with India as a bulwark against Chinese aggression'
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
Six others, including the then PWD minister Churchill Alemao, were also listed in the charge sheet in the scam in which the US firm has been charged with bribing Indian officials to win two water developmental projects in Goa and Guwahati.
China has been an aggressor against India along the Himalayan border, a top American diplomat nominated by President Joe Biden as his next envoy to Beijing has told lawmakers, stating that the US must hold the Chinese government accountable for failing to play by the rules.
National Security Advisor Ajit Doval on Thursday called for seamless coordination among various agencies involved in protecting India's maritime interests in the face of emerging security challenges and increasing rivalries and competitions in the Indian Ocean.
While farmers in Gujarat are rejecting the compensation package, farmers in Maharashtra say they do not wish to part with their land for a project that largely benefits Gujarat.
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
Japan's top government spokesman said on Thursday that Tokyo's campaign to host the 2020 Olympics had been clean.
The double-line pilot section will be commissioned with an investment of Rs 1,000 crore.
'Terrorism continues to be the overwhelming threat to security and stability in the SCO region and therefore Dr Jaishankar strongly pitched for 'collective action',' observes Dr Rajaram Panda.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
The Sensex ended above 27,000 for the first time while the Nifty topped 8,100.
Prime Minister Narendra Modi on Friday said his government has carried out major reforms -- including labour reforms and reforms in insurance and defence sectors -- 'in less than 100 days' and stopped reversals Indian economy had been facing.
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