Two dedicated freight corridors -- Eastern and Western -- are in operation covering several states and districts.
A blast on a railway track in Sirhind, Punjab, damaged a train engine and injured a loco pilot. Police suspect sabotage, and a banned terrorist outfit has claimed responsibility.
Jaguar Land Rover will begin assembling premium cars at its new Tamil Nadu plant on February 9, marking a step towards full-scale luxury car manufacturing in India.
There is a minimum requirement of Rs 2.5 trillion capital expenditure every year and it is understood at the highest levels of the government.
The Budget reflects a clear focus on strengthening India's long-term prospects by leaning on nation-building sectors such as infrastructure, manufacturing, and technology while maintaining fiscal responsibility.
Indian Railways' ambitious project of developing Dedicated Freight Corridors, conceived to change the face of its freight traffic business, is set to suffer inordinate delays due to troubles in land acquisition and various other issues.
Reiterating Sitharaman's statement that this is a youth power budget, Modi emphasised that the provisions made in the budget will prepare leaders, innovators and creators across different sectors.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
This alternative is being planned as the existing projects continue to be delayed due to land acquisition troubles. The ministry is thinking of adding new track lines to its existing eastern and western DFCs passing major areas in the proposed stretches, senior officials said.
This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
The incident occurred between Saradhna and Bangad stations of the Western Dedicated Freight Corridor on the Phulera-Ahmedabad stretch.
Experts say Indian Railways must grow its share in the freight market to remain financially sustainable.
The strong message from the prime minister is of continuity of policies he considers right with strong emphasis on execution, points out T N C Rajagopalan.
Container Corporation of India (Concor) has been the worst performer among major logistics & port stocks registering returns of about 4 per cent over the past three months as compared to 10-12 per cent for peers Gateway Distriparks and Adani Ports and SEZ. Uncertain outlook on the export-import (EXIM) trade front, market share loss, lack of progress on divestment, and weak June quarter results weighed on the stock. Volume and margin movement will be key triggers for the stock going ahead. As was the case in the previous quarter, margin performance was muted even in the June quarter. Operating profit in the quarter was down 17 per cent at Rs 391 crore missing estimates by over 15 per cent. Operating profit margins at 20.4 per cent, too, were down sharply by 350 basis points over the year-ago quarter.
Finance Minister Nirmala Sitharaman announced on Monday a record sum of Rs 1.10 lakh crore for the Railways, out of which Rs 1.07 lakh crore is for capital expenditure, and said the national transporter would monetise the dedicated freight corridors after its commissioning. Presenting the Union Budget 2021-22, Sitharaman also applauded the services provided by the Railways to transport essential goods across the country during the coronavirus lockdown.
Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country's second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24). While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.
Prime Minister Narendra Modi will visit Uttar Pradesh, Chhattisgarh, Telangana and Rajasthan on July 7 and 8 during which he will inaugurate and lay the foundation stones of about 50 projects worth around Rs 50,000 crore, official sources said Tuesday.
With work to pick up, finance ministry likely to give around Rs 10,000 crore more for the project.
Addressing a public rally in his parliamentary constituency of Varanasi, Modi said the schemes earlier were meant for a select few and the past governments did not get seek feedback from the ground.
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
A 25 per cent year-on-year (Y-o-Y) increase in budget allocation towards the roads sector for FY24 has led to renewed interest among investors. However, a combination of escalating costs for Bharatmala and unseasonal rains to some extent have impacted progress. Bharatmala's cost has nearly doubled from Rs 5.35 trillion to Rs 10.6 trillion and the finance ministry has asked MoRTH to go slow until Cabinet approval is received.
Nearly three years after RITES, the consultancy arm of Indian Railways, prepared a preliminary project alignment design for the proposed dedicated freight corridor project, the railways are demanding 42 per cent more land for the project than what was previously envisaged.
Mitsubishi, Itochu, Bombardier, Siemens, GE and Alstom want piece of action.
Govt has already approached World Bank seeking termination of contract. The progress of the project was just 20 per cent though the contract was awarded in 2016.
SC agreed that if they were forced to seek clearances from the ministry of environment and forest, their projects will get delayed
'We carry 6.5 billion passengers every year. We have crossed seven billion this year, and are targeting 10 billion by 2030.'
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
Capital expenditure by 54 large central public sector enterprises and five departmental arms, having a capex minimum target of Rs 100 crore, rose 93 per cent year-on-year (YoY) in the April-May period to Rs 1.39 trillion. The National Highways Authority of India (NHAI) and the Railways have started this financial year's capex cycle on a stronger note. In the first two months of FY24, the 54 CPSEs, along with the departmental arms, achieved 19 per cent of their combined budget target of Rs 7.33 trillion, Business Standard has learnt.
Construction is supposed to begin in 2017, with completion slated for 2023.
The Indian Railways has joined hands with China for cooperation in developing high-speed rail corridors in selected routes in the country.
Whatever be the political coalition that comes to power at the Centre after May 16, the new government will have five ongoing projects to kick-start a sluggish economy.
The Confederation of Indian Industry (CII) has called for speedy implementation of key railway projects, such as the Dedicated Freight Corridor, high-speed rail corridors, rolling stock and other capacity enhancement works.
The ministry has also decided to offer station for redevelopment by inviting open bids from companies.
Bulk goods should be transported through rail instead of roadways as it would be cost effective and environment friendly, said Pawan Kumar Bansal.
According to the target set by the Prime Minister, contracts for the Sonnagar-Dankuni section of the Dedicated Freight Corridor, elevated rail corridor in Mumbai and locomotive factories in Madhepura and Marhowra should be awarded this year.
Focus on the Dedicated Freight Corridor and Delhi-Mumbai Industrial Corridor could spur the sector.
India's priority was investments by Japanese companies in infrastructure projects like Delhi Metro Rail.
Indian and global construction companies vying for Rs 12,000 crore worth of civil works for Dedicated Freight Corridor.
Each logistics park will have a container terminal for both domestic and international operations, mineral-handling terminals, cement and fertiliser terminals, automobile terminals, storage and distribution as well as trans shipment facilities, conventional, cold storage and product-specific warehouses as well as hotels, banks, food parks and entertainment centres. Logistics companies said the multi-modal logistics parks offer a huge growth opportunity.
Mamata Banerjee's decision on land acquisition policy for dedicated freight corridor has very serious implications, says A K Bhattacharya.
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