India's economy may grow at 5 to 5.5 percent rate in 2013-14, Reserve Bank of India Governor Raghuram Rajan said. In an article written on Project Syndicate, the governor said this rate of growth is "not great, but certainly not bad for what is likely to be a low point in econ
Author: admin (Infratructure Today)
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FIIs permitted to hike holding in IDFC
With immediate effect, Reserve Bank of India (RBI) removed the restrictions placed on the purchase of shares of IDFC by foreign investors. The central bank removed the restriction because foreign investors' shareholding in IDFC fell below the prescribed limit. In August, the company reduced the limit that foreign investors c
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Gas, diesel may become costly, cut in petrol price likely
Media reports say that there could be a small reduction in petrol prices if the rupee remains north bound but hike in diesel and kitchen fuel prices appears inevitable. Prices of crude mix, that the government-owned refiners buy, dropped to $110.15 per barrel on September 10 from a high of $112.26 on the previous day.
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US Senator says India should stop oil imports from Iran
An American Senator Jim Risch on September 12 asked India to stop import of oil from Iran, as the Obama Administration defended its decision to grant a sanctions waiver to New Delhi. 'The Indians' purchase of oil from Iran, in my judgment, endangers the entire world community and is a destabilising factor for the Middle East,' Jim Risch said.
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Vizag port takes up expansion at Rs 4,500 cr
To expand its cargo handling capacity, Visakhapatnam port plans to spend Rs 4,500 crore. The port's existing capacity is 65 million tonne (mtpa) and it plans to enhance it to 110 mtpa by 2015-16. The expansion plan includes setting up of 3-4 new berths besides modernising the existing berths towards fully mechanised ones.
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Nod to licensing of land to developers of 4 major ports
The Union Cabinet has approved a proposal to license land to developers of projects at four major ports under public-private partnership (PPP) mode to strengthen the ports' capacity. It cleared one project on lease basis for setting up a cement bagging plant at Cochin Port.
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Tata’s Ginger Hotels among bidders for rail complexes
Ginger Hotels of the Tata Group is among the bidders for the projects of the Rail Land Development Authority's (RLDA) 15 multi-functional complexes (MFCs) out of 43 MFCs offered for development this year till now. RLDA is a statutory authority established by the Union Ministry of Railways for generating non-fare revenue from railway land.
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Railways flouts norms in road construction in Ratlam
In Ratlam of Madhya Pradesh, the diversion road constructed on Dhoswas-Ratlam route has flouted norms and caused monetary loss to the railways, say documents procured by an RTI activist. The road has been constructed on a private land and the contractor in December 2011 flouted the approved plan for his convenience and the officials concerned in the process of the road construction.
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Re-carpeting of MG Road in Gurgaon to end in 6 months
The Haryana Public Works Department (PWD) has stated that the re-carpeting and re-construction of MG Road in Gurgaon will be completed within six months. The heavy vehicular traffic on the stretch was delaying the work, PWD authorities said. The work was taken up last month when Gurgaon and Delhi surburbs were witnessing heavy rains.
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Rs 157 cr for road repairs in West Bengal
The 127 civic bodies in West Bengal were allocated Rs 157 crore by the State government for repair of major roads in the state. The allocation is keeping in view of the ensuing Durgapuja in the state. Kolkata Municipal Corporation is also included in the civic bodies for the allocation.