Senior finance ministry official said the economic affairs department cleared the proposals on Friday.
The road transport ministry has asked the National Highways Authority of India (NHAI) to ascertain the findings of a report by the World Bank's Institutional Integrity Unit. According to the report, contractors paid bribes and gifts to influence the actions of NHAI officials and consultants.
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
'The prime minister took a meeting recently and he asked for suggestions and ideas for a plan till 2047.'
The CBI had registered a case against the four for allegedly entering into a criminal conspiracy and engaging in corrupt practices in the award of contract.
A 25 per cent year-on-year (Y-o-Y) increase in budget allocation towards the roads sector for FY24 has led to renewed interest among investors. However, a combination of escalating costs for Bharatmala and unseasonal rains to some extent have impacted progress. Bharatmala's cost has nearly doubled from Rs 5.35 trillion to Rs 10.6 trillion and the finance ministry has asked MoRTH to go slow until Cabinet approval is received.
NHAI expected to be debt-free by 2030-31 and added the authority, which raised about Rs 14 billion (Rs 1,400 crore) in 2009-10 through capital gains tax exemption bonds, planned to mobilise Rs 40 billion (Rs 4,000 crore) in the current financial year.
Among other things, the Golden Quadrilateral project will be extended from Silchar (Assam) to Kohima.
A special Central Bureau of Investigation court in Patna on Saturday sentenced life-imprisonment to three men, convicted of murdering Satyendra Dubey, a National Highway Authority of India engineer, on November 27, 2003.
Hundreds of people are facing a shortage of food, safe drinking water and sanitation in Kathmandu following the natural disaster, according to eyewitnesses.
The meeting lasted for about two hours and a host of issues pertaining to the building of the corridor were discussed, an official said.
The administration is geared up for more showers as the India meteorological department has warned of heavy to very heavy rains with isolated extremely heavy rains in several districts of the state till Thursday morning.
Updates on the NHAI activities will be available on Facebook, including information on its targets and achievements, among other things.
After the Planning Commission rejected its financing plan for the second time, the National Highways Authority of India (NHAI) is preparing a new draft plan. The earlier proposals were rejected citing that NHAI would find it difficult to borrow funds from the market.
Section 54EC bonds give positive returns, despite a lock-in and tax on interest income.
At a time when some institutions have been dithering over lending to the National Highways Authority of India, doubting its financial strength, the agency is in talks with the country's largest lender, State Bank of India, to borrow up to Rs 10,000 crore (Rs 100 billion) at 8-8.5 per cent.
Over the years, NHAI's expenses have spiraled due to sharp increase in land acquisition costs, while budgetary support has shrunk, leading it to fall back on internal resources and market borrowings
On his third death anniversary, even the probe into his murder has not progressed.
According to a survey, of the 190 infrastructure projects facing delays, 70 per cent were delayed due to land acquisition problems. Forty projects by NHAI, 60 being implemented by Indian Railways and 28 power projects are facing difficulties in acquiring land. SLUs would expedite the time taken.
The engineer's murder is being linked to his letter to the PMO regarding improper utilisation of funds and the sub-standard quality of work in the Golden Quadrilateral Project.
The United States-based software company Bentley Systems is eyeing major contracts in railways, roads, telecom, electricity, gas and water following government decision to invest over Rs 60,000 crore (Rs 600 million) in the infrastructure sector.
The family of National Highway Authority of India whistleblower Satyendra Dubey, whose murder in 2003 had sparked nationwide outrage, said on Saturday that it was not happy with the sentencing of three people in the case as "real culprits" are yet to be punished.
Three men were on Monday convicted of murdering young NHAI engineer Satyendra Dubey who paid with his life after he blew the whistle on corruption in the Golden Quadrilateral project in Bihar.
The move, if accepted, will help resolve nearly one-third of the 1,200 cases on payments pending in various courts in the country.
With the bodies of all the missing workers recovered, the two-day rescue operation ended late on Saturday evening.
The National Highways Authority of India (NHAI) has been told to work on awarding contracts for around 100 projects, covering 11,151 km, over the financial year starting April 1.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
R-Infra quoted Rs 42-crore (Rs 420-million) premium over the bids of rival companies such as GVK Power and Infrastructure Limited, GMR Infrastructure, B Sennaih and C&C, JMC Srei and Sadhbhav, sources told Business Standard.
Uday Chaudhary, one of the three accused in the murder of National Highway Authority of India engineer Satyendra Dubey, escaped on Monday from the Patna civil court premises when he slid his oversized handcuffs off and escaped.
Dhanajay said it was not just his family but hundreds across the country who questioned CBI's probe into Satyendra's murder.
An ambitious plan by the National Highways Authority of India to offer 126 road projects worth around Rs 1 lakh crore this year may face serious hurdles owing to a stiff clause introduced in the new Request for Qualification norms that will eliminate many bidders.
CBI Director Umashanker Mishra visited Gaya to review the situation in view of the FIRs his team is facing in connection with the suicides.
The bench comprising Chief Justice Ravi S Dhavan and Justice Shashank Kumar Singh was hearing a PIL filed by an advocate, M P Gupta, alleging that the future of the Golden Quadrilateral Project was in danger.
Anil Dhirubhai Ambani Group company Reliance Energy Ltd on Thursday announced it has bagged three road projects valued at Rs 2,320 crore (Rs 23.2 billion) from National Highways Authority of India.
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