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.
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.
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 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.
"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.
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.
Rajasthan's BJP Chief Minister Vasundhara Raje and Deputy Chairman of Planning Commission Montek Singh Ahluwalia on Monday differed on which Union government was behind the expressway project in the state.
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.
'It's like the BJP is mocking people: Do what you want, we'll still win.'
No government can 'ignore inclusiveness in a democracy', Montek Singh Ahluwalia tells Anjuli Bhargava.
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.
In a show of solidarity, the CEOs of some 40 top American companies have come together to create a global task force to mobilise resources to help India fight the battle against Covid-19.
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.
In a major step towards providing faster and updated information on rail services, Railway Minister Lalu Prasad on Tuesday
Government is looking to develop 15 airstrips owned by the state governments and 10 that are with the Airports Authority of India.
The railways should leverage its revenues to raise money from the market to modernise and expand its facilities, planning commission deputy chairman Montek Singh Ahluwalia said in New Delhi on Monday.
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.
The prime minister asked the government educational bodies to employ outside professionals and lease their infrastructure to private sector to impart specialised training.
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.
Medical experts have warned that the volume of vaccine available to fight the coronavirus or SARS-CoV-2 in coming years is expected to fall far short of global demand, despite an unprecedented effort to manufacture billions of doses.
The government is optimistic that the Indian pharma industry with a strength of 25,000 companies will be a leading player in the sector in the years to come.
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 government will soon unveil a national strategy on public-private partnership for public health, a senior government official said on Friday.
Government contemplates tax incentives for housing projects.
