Rae Bareilly's Fursatganj airport that houses the Indira Gandhi Rashtriya Uran Akademi (IGRUA) will soon have a world class national aviation university at an investment of Rs 150-200 crore. Congress vice-president Rahul Gandhi on March 25 held a meeting with top aviation ministry officials — who are ex-officio members of IGRUA — and now the place is all set to get the swanky aviation university.
Author: admin (Infratructure Today)
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Inducting new aircraft got easier in India
The Union Civil Aviation Ministry has disbanded the Aircraft Acquisition Committee as it was under the pressure from the airline industry and in the face of criticism about delays in inducting new aircraft. The six-member AAC, headed by the Additional Secretary in the Ministry, was vested with the power of clearing aircraft purchases for existing airlines as well as deciding on proposals for those wanting to enter the domestic industry.
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Govt canÂ’t regulate airfares: CCI
Competition Commission of India (CCI) Chairman Ashok Chawla has said the government cannot fix the maximum retail price (MRP) of airfares like other consumer items as fares are decided by market forces of demand and supply. This order effectively bars the government from regulating airfares.
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India’s 1st aviation varsity in UP to function next-year
India's first aviation university will come up at Rae Bareli in Uttar Pradesh and its academic session would begin in July next year. The National Aviation University (NAU) would train technical personnel, including engineers, and impart all aviation-related skills to its students. There would be a requirement of close to three million trained personnel in the Indian aviation sector over the next decade, according to independent estimates.
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RBI Governor supports moving towards panel structure
Reserve Bank of India Governor Duvvuri Subbarao said India must move towards a monetary policy committee structure. Subbarao said this in reply to a question following a speech at the Bank of Mauritius, which has such a committee in place. The governor said RBI must have more independence in order to have a monetary policy committee
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Investors lose appetite for tax-free infrastructure bonds
Industry players feel that capital market investors and private equity funds have low appetite for investment in infrastructure sector because of inherent risks involved in such ventures. Poor appetite among investors for this sector is evident from the weak response to the bond issues of infrastructure companies. Ennore Port, Dredging Corporation of India and the Jawaharlal Nehru Port Trust (JNPT) received tepid respo
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Asset quality of banks may remain weak in FY14
According to rating agency Standard & Poor's (S&P), asset quality of Indian banks may remain weak in 2013-14 and improve only in 2014-15. In a recent report, the agency said the quality of earnings would be stressed and bad loans may rise to 4.4 percent before falling. Therefore, S&P sees 2013-14 to be a challenging year for the banking sector. RoAs are expected to improve by 1 pe
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Panel suggests merger of SAIL and RINL
In order to create a steel company of global scale and bring down costs of production, the Committee on Public Undertakings suggested the merger of state-owned steel giants Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL). In a recent report, the panel, which is a body of Lok Sabha members, asked the government to specify clearl
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OIL, IOT agree to collaborate on oil and gas distribution
Oil India (OIL) agreed to explore the development of city or natural gas distribution network in India and overseas in partnership with IOT Infrastructure & Energy Services. Both the firms signed a memorandum of understanding (MoU) in this regard recently. The MoU is for the EPC (Engineering-Procurement-Construction) jobs related to the distribution network of gas
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RIL to drill probe well in KG D6
Niko Resources informed that its partner Reliance Industries (RIL) has spud its first exploration well in more than five years on the flagging natural gas fields in KG-D6 block. Niko is the minority partner of RIL in the Krishna Godavari basin block. RIL has spud the MJ-1 exploration well on the Dhirubhai-1 and 3 gas fields in the KG-DWN-98/3 or KG-D6 block in its efforts to explore new reserves to supplement falling