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.
In 2015, India's domestic aviation market clocked 81 million flights.
Henry Kravis, co-founder of global private equity firm Kohlberg Kravis Roberts & Co, thinks India should go for a bad bank to deal with bad assets in banks. In an interaction with journalists in Delhi, he says there are plenty of opportunities in India. He was joined by India CEO Sanjay Nayar.
Road Transport Minister Nitin Gadkari known for promoting innovative ideas in transportation, created a stir some time back when he pitched for 100 per cent electric mobility by 2030. In an interview with Megha Manchanda & Jyoti Mukul, he talks about the Central Road and Infrastructure Fund (CRIF) and electric vehicles.
The government is pushing the public sector behemoth ONGC to involve private sector companies and service providers wherever possible to help raise oil and gas production, Petroleum Secretary Tarun Kapoor said Thursday. Kapoor's comments came days after the second-highest ranked official in his ministry asked Oil and Natural Gas Corporation (ONGC) to give away a 60 per cent stake plus operating control in India's largest oil and gas producing fields of Mumbai High and Bassein to foreign companies. "ONGC has to explore more so that it can discover more oil and gas reserves and bring them quickly to production to raise domestic output. The government is very clear that ONGC has to do more," he told reporters.
Indian Railways has plans to decongest network and become more self dependent.
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.
What does Nobel Laureate Abhijit Banerjee thinks about India's education sector?
Along with HAL, Boeing intends to involve the Mahindra Group in building Super Hornets in India.
'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'
The Reserve Bank on Monday eased norms for structuring of existing long-term project loans to infrastructure and core industries, to revive stalled plans and help banks tide over mounting bad loans.
'We hope there shall be more focus on existing projects and their completion rather than new projects.' 'Any new project announcements should be largely for decongesting the existing lines rather than new lines.'
The two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
'The quick fixes have failed; there is now no alternative to deeper reforms,' says Ajay Shah.
To ensure equal access to health care, the government must consider it in a holistic manner and improve all parameters.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
'Which one of us would give up our flats for development?' 'We insist that others, who are unwilling but weak, make all the sacrifices on our behalf and then we are puzzled when there is violence against the State,' says Aakar Patel.
One hopes that the government will act on the Kelkar panel recommendations.
Announcing this at a conference on Communication, Navigation and Surveillance systems, AAI Member (Operations) G K Chaukiyal said that the low-cost airports would be built over 10 years in an effort to reduce the cost of operation.
The Finance Ministry on Thursday said the growth rate in the current financial year will accelerate to 5.8 per cent, better than previous estimates, saying the green shoots of economic recovery are now visible.
Diwesh Sharan, a deputy director general of ADB, says beside the PPP model and viability gap funding, there is a 3rd option - value capture - to raise funds for India's ambitious infrastructure projects.
The largest athlete's village in the history of the Games is a visceral monument to now-faded optimism. Planned when Brazil was booming, its harnessing of private sector wealth was meant to set the gold standard for a sustainable Olympics. Instead, the worst recession in generations pushed the luxury apartments out of reach.
Getting the balance between fiscal restraint and growth-contracting policy remains a problem.
'No Budget has so far has addressed the issue of the government's abysmal productivity of capital spending, improving which will be the big game changer. 'But, the government's tight lock on businesses, banks, education, and even essential services like transportation and large parts of infrastructure and healthcare is destroying capital year after year,' points out Debashis Basu.
The Reserve Bank of India's (RBI's) move to ban Mastercard from issuing new cards for not complying with the local data storage guidelines may hit five private banks, a non-bank lender, and a major card-issuing company. The impact is expected to be felt for a few months as these players transition to other card networks. According to Nomura Research, RBL Bank, YES Bank, and Bajaj Finserv are the ones most impacted by the ban as all their credit card schemes are allied to Mastercard. Among others, IndusInd Bank, Axis Bank and ICICI Bank have 35-40 per cent of their credit card schemes tied to Mastercard, the report said.
To date, USAID has provided $5.9 million to assist India in responding to the COVID-19 outbreak.
Six months into his new role, Vishal Wanchoo, president and chief executive officer, GE, South Asia, speaks to Jyoti Mukul about how its horizontal business lines of additives and digital are playing across its verticals.
'If some measures are implemented quickly, they can help revive growth.'
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
When Nitin Gadkari took charge as Road Transport and Highways Minister in 2014, he had set a target of constructing 40 km a day in two years. But construction at this point is a mere 16 km a day. Megha Manchanda on what ails the road sector.
China, Russia, Iran and international terrorism form the 'big four' set of security threats in an era of dramatic change, Britain's chief spy said in a rare public speech on Tuesday.
Experts are upbeat about developing smart cities in India.
According to a confidential government paper seen by Reuters, several states want to do away with obtaining landowners' consent altogether in some cases and to cut through red tape which they say holds up development.
Govt must take few steps to improve business environment.
Tirole's insights show how real-world incentives are complicated, and contracts can be difficult to write and enforce.
The Budget provides a reassuring message about Prime Minister Narendra Modi staying the course.
CAG may not be the cure-all for the ills that afflict PPP projects and is perhaps a sub-optimal solution to the problem.
Fifteen months after taking power, Modi's credibility as an economic manager is on the line.
The Indian financial system's asset quality improved despite the pandemic, but it could be due to special dispensations by the regulator, and banks would likely see increased stress on their books once the schemes expire. According to the annual trend and progress report of the Reserve Bank of India (RBI) released on Tuesday, the data available for this financial year so far indicate that banks' bad debts have moderated while provision coverage ratios (PCRs), capital buffers as well as profitability indicators have improved relative to pre-pandemic levels.
