In a bid to tackle volatility in the currency market, Finance Minister P Chidambaram said the government would work towards limiting the current account deficit (CAD) to 3.7 percent of GDP, or $70 billion in 2013-14.
Further, he said the deficit would be financed fully and safely. In order to restrict the current account deficit to 3.7 percent of GDP, government plans to control demand for impo
Author: admin (Infratructure Today)
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Govt aims to limit CAD at 3.7% of GDP
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Vizag port pitched as an alternative for foreign trade
Considering the Visakhapatnam port's modern facilities and its appropriateness, stakeholders of both India and Nepal have underlined the need to open the port as an alternative port for India's foreign trade, said Sushil Mulchandani, chief operating officer of Visakha Container Terminal Private Limited. He was addressing Nepal-India Business Conclave, 'Visakhapatnam Port: Additional Gateway for NepalĆās Export Import Traffic.' in Kathmandu on August 11. Visakha Container Terminal is the operator
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India to get shorter sea route to reach ASEAN
To have much shorter sea route to the economically vibrant Southeast Asian region and help boost its trade and push for greater connectivity with ASEAN (Association of South East Asian Nations) countries, India is mulling on a deep-sea port in southern Myanmar. The Dawei deep sea port and special economic zone is slated to give a huge boost to connectivity and trade in the Southeast Asian region when it is commissioned in a few years. The $8-billion project is being developed jointly by Myanmar
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Qingdao, Lianyungang ports to up iron ore cooperation
In China, Qingdao Port (Group) Company and Lianyungang Port Group Company have got into an agreement to expand their strategic cooperation in iron ore businesses and build iron ore logistics system. Yard capacity at Qingdao port and Lianyuangang port is 15 million tonne and 7 million tonne respectively.
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Petronet gets its maiden cargo at Kochi port
India's largest importer of liquid gas, Petronet LNG has received the maiden cargo liquefied natural gas or LNG at its just constructed Kochi import terminal in Kerala but the ship hasn't been able to dock at the port because of dredging issues. Petronet on August 12 received a ship carrying LNG from Qatar but the ship could not dock at the port. The ship needs a particular level of clear water depth to navigate and dock at the port.
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Haryana gets Rs 238.65 cr loan for roads, drinking water
In Haryana, the National Bank for Agriculture and Rural Development (Nabard) has sanctioned a loan of Rs 238.65 crore for 21 road and 14 drinking water projects in Haryana, NABARD (Haryana), Chief General Manager, DV Deshpande said. The loan was approved under Rural Infrastructure Development Fund (RIDF) scheme, he added.
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UP takes up eco-friendly roads to save natural resources
Unnao district in Uttar Pradesh is to get eco-friendly roads to save a lot of natural resources which usually goes waste during construction activities. With an aim to save such wastage, the State government is planning to build eco-friendly roads in the state. Unnao is the first district to get one such road in the next three months.
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Naxal-hit West Bengal districts get Rs 822 cr for roads
The Union government has cleared Rs 822-crore for roads projects in three Maoist-affected districts of West Bengal. The sanction for 447 road projects for the districts of Paschim Mednipur, Bankura and Purulia comes soon after the Union government approved Rs 523-crore road projects for the state.
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Work on Delhi’s flyover launched 15 years ago, still incomplete
In Delhi, local people have launched a protest condemning the undue delay of 15 years in executing the Rani Jhansi Flyover Grade Separator. Not even a half of the flyover project is completed yet. The flyover idea was mooted in 1998, but construction began only in November 2008.
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58 tar roads in Pune to be turned into cement ones
Pune Municipal Corporation mulls concreting of 58 tar roads. The road concreting include key throughfares like FC Road, JM Road, Shivaji Road, Karve Road, Fergusson College, Jungli Maharaj road. Pune Municipal Corporation (PMC) plans to concretise the 58 main roads in the city. It has already completed concretisation of Airport, Sinhagad, Solapur roads and a stretch of the Pune-Mumbai highway.