The Planning Commission member (infrastructure) BK Chaturvedi said that investment in infrastructure would rebound in the next 5-6 months. He said these factors will help push infrastructure projects, something which is high on the plan panel's agenda.
Author: admin (Infratructure Today)
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Fresh RBI norms for bank licences
According to the Finance Ministry, more players will soon get bank licences as the Reserve Bank of India (RBI) will come out with fresh norms on new bank licences in the next four months. In April, RBI had issued bank licences to IDFC and Bandhan Financial Services, out of 25 applications.
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RIL plans to raise Rs 10,000 cr in debt
Reliance Industries Ltd (RIL) plans to raise up to Rs 10,000 crore in debt this fiscal to part fund its $26 billion investment plan. RIL has sought shareholder nod to raise funds through non-convertible debenture in one or more tranches. RIL is expanding its existing petrochemical plants.
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Over 100 large projects await bank funding
Over 100 projects, including from Tata Steel and Hindalco, sought financial assistance from public sector banks during January-March 2014. The industrial houses are pinning hope on the new government to boost sentiments, especially in manufacturing and capital goods sectors.
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Foreign investment inflow to double
Foreign investment in the Indian economy is expected to more than double, with inflows from both foreign direct investment and foreign institutional investors set to surge above $60 billion in the current financial year, compared with the $29 billion in 2013-14, an ASSOCHAM note has projected.
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New FM seeks separate paper on GST
The new Union Finance Minister Arun Jaitley has asked the revenue department for a separate presentation on the proposed tax reform towards Goods and Services Tax (GST). Expenditure, revenue and disinvestment departments had made presentations to the minister on 28 May.
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Minister for fast clearances of infra projects
The new Environment Minister Prakash Javadekar promised 'fast clearances' to infrastructure projects in a transparent manner and launched a process for transparent environmental clearance. After assuming charge as Minister of State (Independent) for Environment, Forest and Climate Change, he also said that he would take effective measures to conserve ecology.
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Web portal for project monitoring in Kerala
Kerala has set up a web portal on the lines of the Project Monitoring Group (PMG) of the Cabinet Committee on Investments at the Cabinet Secretariat in New Delhi. The portal will monitor the implementation of projects with an outlay of up to Rs 1,000 crore.
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Rural road development authority on anvil
Continuing with its development plans, the Rajasthan government is looking at the possibility of constituting a rural road development authority for connecting roads in its villages. To link 10,000 villages in the state with district headquarters, the Public Works Department (PWD).
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New mining policy in Goa
Goa Government has said it will adopt a transparent mechanism to award mining leases in future and was studying the SC order lifting ban on iron ore extraction before taking a decision on vacating current mine operators whose fate hangs in balance.