Brazilian steelmaker Gerdau SA hopes that the Indian steel sector may grow sizeably given the current low per capita consumptions in the domestic market. In view of the opportunities in the domestic market, the company plans to expand its footprint in India and it is in active talks with a few Indian steel companies for acquiring either majority stake or entire stake. But it is not know
Author: admin (Infratructure Today)
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Minister may hold meeting with PSUs to review investment
Between March 22 and April 22 Finance Minister P Chidambaram may hold a meeting with heads of public sector undertakings (PSUs) to review their capital expenditure plan, reports suggest. During the meeting, the minister may discuss capital expenditure plans of PSUs for the coming financial year and also to prod the private sector to invest more
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Delhi govt to spend Rs 374 bn in 2013-14
Delhi Chief Minister Sheila Dikshit presented the budget for 2013-14 which pegged the overall outlay for the financial year at Rs 37,450 crore. While the state government allocated Rs 16,000 crore for plan expenditure, the total non plan expenditure has been proposed at Rs 21,000 crore
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RBI suggests steps to increase returns from foreign investment
In order to increase the size of returns from huge investments made abroad by Indian firms, the Reserve Bank of India (RBI) some tax exemptions on such returns. RBI wants to increase the size of such returns, which form part of the current account of the Balance of Payment, in order to address the rising deficit in the acco
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Govt clarifies on FDI in oil and gas projects
According to the extant Foreign Direct Investment (FDI) policy, FDI, up to 100 percent, is permitted, under the automatic route, for exploration activities of oil and natural gas fields. This information was given by the Minister of State in the Ministry of Commerce & Industry, D Purandeswari in a written reply in the Rajya Sabha
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Meghalaya to have hi-tech renewable energy policy: CM
The Meghalaya government is contemplating a hi-tech, environment-friendly approach to counter power deficiency in the state besides contributing to the environment through its Meghalaya Renewable Energy Policy, which is on the offing, the State Chief Minister Mukul Sangma said. He also holds the power portfolio.
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Banks may not cut lending rates soon
Banks in the country may not be able to cut lending rates soon in response to the 25 basis point reduction in the policy repo rate by the Reserve Bank of India (RBI) in its monetary policy review on Mach 19. Banks may not be able to reduce lending rate because doing so would reduce their net interest margin when deposit rate is high. Banks cannot reduce deposit rate at a time when they are trying to attract more depo
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Maritime board revokes nod for Rs 20 bn project
Media reports indicate that Tamil Nadu Maritime Board revoked the approval given to Goodearth Shipbuilding for its proposed Rs 2,000 crore shipyard and captive port project at Silambimangalam in Cuddalore district. The board also cancelled the relevant agreements entered into with the company to develop a captive shipyard within Silambimangalam shipyard port limits in Cud
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NMPT may not lose cargo to airport
New Mangalore Port Trust (NMPT) does not find any threat to its business from the cargo business of Mangalore International Airport. The airport may handle high value, small size and perishable goods such as marine products, vegetables and flowers. The port, on the other hand, handles bulk carg
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Minister clarifies on boat building industry in Lakshadweep
The boat building industry in Lakshadweep Islands is not dormant owing to shortage of funds. As reported by Union Territory of Lakshadweep Administration (UTLA), boat building has been taken over by the people in Lakshadweep Islands and the quantum of work in the government boat building yard is less. However, UTLA provides financial assistance for boat building. For multi day fishing vessels, 50 percent of the cons