Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
However, Chief Minister Vasundhara Raje and her five cabinet colleagues have won their respective constituencies.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
From trusted bureaucrat, to Wharton, MNC executive to businessman, and now politician, the man in charge of two weighty ministries is a unique all-rounder with specialist knowledge.
The survey also found that employment opportunities, transport and women empowerment are key issues in the Himachal Pradesh assembly polls.
Apart from the chief minister and deputy chief minister, 13 cabinet and 10 ministers of state were allocated portfolios.
The second wave of the pandemic in the country has derailed the recovery momentum of the domestic auto industry, which was poised for a comeback in the current fiscal after witnessing the two consecutive challenging years, ratings agency ICRA said on Thursday. Unlike the first wave where infections were largely localised to urban clusters, the second wave has seen deeper and wider penetration, including into rural hinterlands. Accordingly, outlook for various segments has been revised downwards, it said.
Neeraj Prakash, MD, Shriram General Insurance, explains how new measures proposed in the Motor Vehicles Act can smoothen the lives of the insured and insurer and how the government plans to make more vehicles owners buy insurance.
'The people, media and politicians are ready to listen to the troubles of Kangana Ranaut, but we are unwanted lives in the heart of Delhi.' Shine Jacob reports.
'This (opposition to the project) is not just architects, but everyone needs to know more.' 'We need to be allowed to participate, maybe, you can ignore what we have to say, that's your decision.' 'At least follow the process.
According to industry sources, states are yet to clear their previous dues of Rs 2,000 crore.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
'In difficult times as now, the call of the village is all that these migrants can hear,' observes Vijaya Pushkarna.
The government did not tell us why our economy had imploded. The prime minister simply stopped speaking on the subject, asserts Aakar Patel.
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'The Modi government must create conditions to integrate millions into the rural economy as many migrants are certainly not going to return to live an undignified life,' notes Ramesh Menon.
'If there is anyone who is a victim of vendetta politics, it is me.'
According to officials, Punjab, West Bengal, Maharashtra, Assam and Telangana wanted the lockdown to be continued, some of them wanted the powers to decide the zoning of districts -- green, orange and red -- as per the COVID-19 situation.
The increase in infrastructure spends in the country is likely to be driven by sectors like housing, telecom, healthcare, education and transportation.
Taking a leaf out of the methods adopted by Pakistan-based terrorists, Maoists have plans to attack major cities and are trying to enhance their strike capabilities in the urban areas. Central security agencies have gathered information that the Maoists have plans to strike in the cities in a big way but lack of infrastructure like hideouts for cadres, safe transport to carry arms and explosives are preventing them from doing so.
Union Urban Development Minister S Jaipal Reddy said Metro rail system in cities like Mumbai and Chennai will be built on standard gauge, which is used in most of the new age transport systems in the world.
Less than six months ago, Delhi was gasping for breath. Authorities said air quality had reached "unbearable levels". Schools were shut, flights were diverted, and people were asked to wear masks, avoid polluted areas and keep doors and windows closed. But during the lockdown that began on Mar 22, the concentration of poisonous PM2.5 particles in a cubic metre of air averaged at 44.18, according to a Reuters analysis of government data, indicating a rare "good" rating, the safest level on the scale.
It took a lockdown for us in India to even recognise that the plight of migrants needs to be addressed. They were faceless and unrecognised. They were unappreciated and even hounded. They were poorly paid and exploited, notes Ramesh Menon.
With all the brouhaha over GST, and (often) a limited understanding of the long-term forces shaping India's logistics sector, companies seem to have omitted factoring in some underlying trends that could shape supply chain excellence, says Neelesh Mundra.
'...are the deep ruts and fissures in the rotting fabric of our cities and the incompetence of elected leaders and administrators,' notes Sunil Sethi.
The Prime Minister's Office has said that these innovations will herald a new era of travelling comfort and enhanced mobility.
The ambitious project of the urban development ministry, pegged at Rs 4,676 crore, was originally scheduled to be completed in 2015. It is to be executed through a joint venture company of the central and state government. Equity participation of the state and central government will be on a 50:50 basis. But soon after taking charge of the railway ministry, Banerjee had a talk with Union Urban Development Minister S Jaipal Reddy about her apprehensions.
Delhi Metro on Thursday achieved another milestone when a brand-new train chugged into the satellite city of Noida for the first time paving the way for thousands of commuters in east Delhi and adjoining areas to enjoy the new age transport system.
The report ranks 42 major cities of the world across six key measures of economy, research and development, culture, accessibility, environment and livability
Among the panels announced on Thursday is the Appointments Committee of Cabinet (ACC) to be headed by the prime minister with Shah as the other member.
The Union home ministry on Tuesday allowed opening of shops selling school books and electric fans, services of bedside attendants of senior citizens and public utilities including recharge facilities for prepaid mobile phones during the ongoing lockdown.
Among the three Deputy Chief Ministers are Govind Karjol, who has also been given the charge of PWD and Social welfare; Ashwath Narayan the portfolio of Higher Education, IT & BT, Science and Technology; and Laxman Savadi with Transport department.
A consortium of three US-based firms - AECOM, KPMG and IBM - was given the task of developing the master plan.
"I congratulate the people of Kochi on the proud moment," the PM said.
There is a need to set up independent regulatory authorities on energy, transport and urban infrastructure at the state level to ensure smooth implementation of infrastructure projects, especially those which are taken up on the PPP (public private partnership) model, said Vinayak Chatterjee, co-chairman of the CII National Council on Infrastructure and chairman of Feedback Ventures Limited.
Long-term funding was a requirement for infrastructure projects, and asset-liability mismatch in the banking system, impacts the access to finance for infrastructure projects. One of the key challenges would, however, be to get private sector back into investing.
This would include state capitals and 53 cities with a population of 10 lakh each.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
With this India will continue to retain the position of being the fastest growing emerging economy. And by 2021, its growth rate is projected to be 1.5 per cent more than China's 6 per cent.
The problem is to integrate the technology with a system of household level segregation so that waste does not end up in landfills, but is processed and reused.
