Finance Minister Arun Jaitley announced slew of reforms for the masses.
Whilst substantive public allocations have been made in the infrastructure sector, this strategy is plateauing due to the fiscal deficit constraint, capacity limitation of statal implementing agencies, the declining ability of PSUs, and the precarious situation of the Railways' operating ratio. It is, thus, high time to get the policy compass to point at rejuvenating private sector investments in infrastructure, says Vinayak Chatterjee.
The Union Cabinet on Wednesday approved the proposal for leasing out airports at Jaipur, Guwahati and Thiruvananthapuram through public-private partnership (PPP).
In the midst of the Left parties raising questions over moves to privatise airports, the Civil Aviation Ministry said the move was meant to enhance the public-private partnership in modernising the airports and not to 'selloff' the assets.
SemIndia, a consortium of overseas Indians, on Wednesday announced plans to invest $3 billion in an advanced semiconductor manufacturing facility in the country with technology from America's Advanced Micro Devices Inc.
At least 50 travel destinations would be developed as a "complete package" and states will be encouraged to set up a 'unity mall' for the sale of their products, Finance Minister Nirmala Sitharaman announced in the Budget on Wednesday, asserting that promotion of tourism will be taken up on a "mission mode".
West Bengal Industrial Development Corporation and Indian Institute of Technology-Kharagpur on Thursday signed a memorandum of association to develop the state's first biotechnology park at Kharagpur.
Real estate major DLF and West Bengal government on Monday entered into an agreement to build a township and an industrial hub at Dankuni in the Hooghly district.
"Expression of Interests would be invited shortly for building the cruise terminal that would have a marina, a convention centre, hotels, entertainment places," Mumbai Port Trust deputy chairman Ashok Kumar Bal said.
It is a Budget 'high on promises but low on design,' the agency said.
In a major step towards providing faster and updated information on rail services, Railway Minister Lalu Prasad on Tuesday
The government on Friday announced putting in place a regulator for the civil aviation sector.
With Indo-US relations in its "spring", the two countries should use their resources for common good, science and technology Minister Kapil Sibal said in New Delhi on Thursday.
Going against the assurances given to the Kerala high court, the protesters agitating in front of the under-construction Vizhinjam seaport had on Saturday blocked the trucks carrying construction materials to the site.
Land ordinance has done away with consent and social impact assessment.
Tata Power bagged the Rs 20,000 crore (Rs 200 billion) project in Mundra last year by offering to supply electricity at the lowest rate of Rs 2.26 per unit by burning imported coal.
The fund will have a corpus of Rs 100 crore (Rs 1 billion), which could be increased to Rs 150-200 crore (Rs 1.5 to Rs 2 billion) in the next two years.
India will get $35 billion from Japan over the next five years for developmental projects, including building of smart cities and next generation infrastructure as also cleaning of the Ganga, as Premier Shinzo Abe on Monday pledged to partner Prime Minister Narendra Modi's "ambitious" vision of inclusive development.
Describing AIDS as a major challenge to human survival, the government on Monday said that the corporate sector must play a greater role by forging public-private partnerships to fight the dreaded disease.
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.
After launching expressway projects worth almost Rs 1 trillion, the Uttar Pradesh government is now betting big on the aviation sector to propel the state's economic growth. Air travel, comprising both business and leisure, is expected to give a fillip to the socioeconomic landscape by attracting fresh investment. It would also ramp up infrastructure and create jobs.
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The Central Bureau of Investigation has booked Venkata Krishna Reddy Gunupati, chairman of the GVK group of companies, and his son G V Sanjay Reddy, managing director of Mumbai International Airport Ltd, among others for alleged irregularities to the tune of Rs 705 crore in running of the airport, officials said.
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
The Election Commission (EC) has raised certain questions on the government's proposal to allow foreign direct investment (FDI) in the construction and maintenance segments of the railways.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
No other corporate house in India is in a better position than Tata group for the takeover of debt-laden airline Air India, former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia said on Thursday. Tata Sons has emerged as the top bidder for the takeover of the state-run airline but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah. "You can't have a better corporate, with a better position than the Tatas, we can hand it (state-run airline Air India) over," he said while replying to a question in a virtual event.
India's financial sector is dominated by large government-owned and private-sector banks.
The ones chosen for operation, management and development through a public-private partnership model are Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati.
Ahead of Modi-Putin talks, the US called upon India to make it clear to Russia that any resolution of the Ukraine conflict must respect the United Nations charter and Ukraine's territorial integrity and sovereignty.
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PSUs may not be financially sound enough to plug deficit or revive investment.
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