The Public Private Partnership Approval Committee (PPPAC), chaired by Economic Affairs Secretary R Gopalan, had granted approval to the six proposals of the ministry of road transport and highways spread across five states, an official statement said.
The Maharashtra cabinet has approved a land acquisition and allotment policy for development projects in the 'Third Mumbai' area near the Mumbai Trans Harbour Link (Atal Setu), along with other key infrastructure and development initiatives across the state.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
Defence Minister Rajnath Singh has approved the "execution model" for the indigenous development of a fifth-generation deep penetration advanced medium combat aircraft (AMCA) for the Indian Air Force. The Aeronautical Development Agency (ADA) will execute the programme through industry partnership, with equal opportunities for both private and public sectors. The project is a major step towards "Aatmanirbharta" (self-reliance) in the aerospace sector and is expected to cost around Rs 15,000 crore.
Responding to a question, he said, "It may also deal with fake news, though there is no specific mention in this regard."
The move is part of a larger initiative by the government to speed up work in the highway sector.
In order to achieve $5 trillion GDP by FY'25, India needs to spend about $1.4 trillion over this period on infrastructure, according to the Economic Survey. During financial years 2008-17, India pumped in about $1.1 trillion on infrastructure. However, the challenge is to step up infrastructure investment substantially, the Economic Survey 2021-22 said.
Brazil's government on Tuesday issued its first estimate of public spending on projects related to Rio de Janeiro's 2016 Olympic Games, though the 5.6 billion reals price tag is set to swell as more projects receive approval.
The estimated cost of the project is around Rs 1,642 crore.
The government has approved 20 new highway and housing projects at a total investment of Rs 14,538 crore (Rs 145.38 billion).
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
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.
The much-awaited special purpose vehicle for funding infrastructure projects is all set to take off by next month with the Prime Minister's Committee on Infrastructure giving it a green signal.
We need to equip the Indian Armed Forces, not 'commercial' as Trump wants, but 'operationally' looking at growing Chinese military capabilities, asserts Lieutenant General Prakash Katoch (retd).
The prime minister's committee on infrastructure has finalised a proposal for restructuring the National Highway Authority of India.
The scheme is expected to activate the measures announced for the housing construction sector under the economic stimulus packages. It will increase the stock of houses ranging from 300 sq ft to 1,200 sq ft plinth area built at affordable rates on land provided by state governments.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
According to the guidelines approved by the government, 100 per cent FDI can be utilised in facilities like cleaning up trains and installation of bio-toilets in passenger coaches and setting up of mechanised laundry services.
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
A host of factors including the reform measures taken by the government and decline in global oil and commodity prices have led to lower inflation, the Finance Ministry said on Wednesday.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
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The development comes after the National Democratic Alliance government this year broke a 92-year-old tradition of presenting a separate Railway Budget, according to suggestions made by the Debroy committee.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
The Union cabinet on Saturday recommended re-promulgation of the controversial land acquisition ordinance. The land ordinance will be issued for the third time.
Has the rail ministry taken care to draw up a transparent framework?
DIPP had proposed 100% FDI in Railways, which it had to now scale down to 74% in certain areas
Most of the projects face hurdles such as delay in approvals and lack of coordination between state governments and the railways.
The ministry has also decided to offer station for redevelopment by inviting open bids from companies.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
The ordinance has returned near absolute power of discretion in land acquisition, except in tribal areas, into the hands of the bureaucracy yet again
Lukewarm response from private investors and turf battles between government agencies have resulted in delaying Modi's ambitions. Sahil Makkar reports.
Details were not immediately available ahead of a planned government briefing.
After much delay, the landmark Lokpal Bill was on Tuesday passed by the Rajya Sabha, marking a step closer to enactment of a new law under which an anti-corruption ombudsman would be set up.
GVK Group that runs the swanky MIAL (Mumbai international airport) pipped rival GMR Group to bag the contract for the proposed facility in Navi Mumbai which will ease the severe congestion at the Chhatrapati Shivaji International Airport.
The Central Bureau of Investigation (CBI) on Friday raided the home of Delhi Deputy Chief Minister Manish Sisodia and 30 other locations in connection with alleged corruption in the implementation of the Delhi Excise Policy.
Downplaying concerns of delay, Amitabh Kant, managing director of Delhi-Mumbai Industrial Corridor Development Corporation (DMIC), says the project will be delivered on time.
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