In the backdrop of rupee's fall against dollar and the escalation of Syrian crisis ballooning oil import bill, Union Petroleum Minister Marpadi Veerappa Moily on August 29 met Finance Minister P Chidambaram to discuss possible solutions to the crisis. Sources said that the oil minister discussed with Chidambaram the diesel price hike of Rs 3-4 per litre and cut in duties.
Author: admin (Infratructure Today)
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Rupee gains on RBIs dollar swaps measure for OMCs
The Indian rupee's brisk fall against the US dollar was halted on August 29 with the Reserve Bank of India's move to directly supply dollar swaps to oil marketing companies (OMCs). The Indian currency on the day appreciated 225 paise to close at 66.55 per dollar, logging its biggest single-day gain in percentage terms in 26 years.
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Major ports witness decline in profits
The country's 12 major ports witnessed decline in profit in recent years. The aggregate profit of the 12 major ports declined to Rs 1,790.92 crore in 2011-12 from Rs 1,946.38 crore in 2010-11. The combined net profit of these ports declined further to Rs 1,220.61 crore in 2012-13. These 12 ports also witnessed contraction in cargo volume from 570 mn t in 2010-11 to 560 mn t in 2011-12.
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Capacity of major ports stand at 744 mn tpa
As on March 31, 2013, the aggregate capacity of all major ports in the country stood at 744.91 million tonne per annum (mn tpa). This information was given by the minister of state for shipping Milind Deora in Rajya Sabha. Owing to ban on iron-ore mining and global slowdown, the traffic at major ports declined last year, the minister
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Kattupalli port to give Chennai port a run for its money
The operation of container terminal at Kattupalli port may reduce the traffic of container cargo at the nearby Chennai Port, reports indicate. From next month, Larsen & Toubro Limited (L&T) plans to start operation at its container terminal in Kattupalli port. The terminal may handle up to 400,000 containers per annum and can touch half a million capacity with a single
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Private ports more efficient than major ports
Experts feel that the performance of private ports is more efficient than the 12 major ports, which are owned by the central government. The superior performance of private ports is attributed to their ability to capture the entire value in the chainĆāright from the time cargo enters a port till it is loa
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States more empowered in the new Act
India's new land acquisition Bill, praised in some quarters and reviled in others, is a complex piece of legislation. It was passed by the Lok Sabha (29 August) and by the Rajya Sabha (5 September) as well.
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Land acquisition law: no pain no gain
Speculations are rife that land prices would shoot up 20 to 40 per cent as a result of the new Bill, depending on whom you ask. There are a thousand things that can be wrong about the new Act. But there are as many rights. Let's be fair: the new land acquisition Act-renamed to include the social justice that it sets out to ensure-is at once pain and gain.
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Focusing on land owner
The lease provision in the new Bill and assessing local stakeholders will go a long way in making land acquisition smoother, Saji Gopinath says. Considering the escalation of cost of entire project happening due to this delay in acquisition and ensuing costly legal procedures
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Is PPP overrated?
The industry may be disappointed with the Food Security and Land Acquisition Bills, seeing them as a step back into the era of subsidies and socialism. In many ways-lets's face it, so would be protectionism of domestic businesses against the onslaught of Chinese power equipment manufacturers.