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
Author: admin (Infratructure Today)
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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
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Shipping ministry introduces amendment bill
Minister of State for Shipping Milind Deora introduced an amendment bill for the Merchant Shipping Act 1958. The government wants to amend the Act to provide for the enforcement of the anti-fouling systems (AFS) Convention 2001. Under the global convention, a list of
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Govt project may upgrade connectivity to ICTT
Kerala government's plan to construct Azheekode Munambam Bridge and a coastal corridor from Vallarpadam to Kozhikode via Ponnani may benefit International Container Transshipment Terminal (ICTT) at Vallarpadam, reports suggest. The present congestion on National Highway (NH) 17 will be reduced once this corridor becomes a reality. The proposed bridge and the corridor may enable smo