The Union Minister for Communications & IT and Law and Justice Kapil Sibal has said that the Union government has approved investment proposals worth Rs 961 crore from Samsung, Bosch and Sahasra for setting up of electronic systems design and manufacturing (ESDM) facilities in the country. The proposals were received under the Department of Electronics and Information TechnologyĆās Modified Special Incentive Package Scheme (M-SIPS), in which the government will provide up to Rs 10,000 crore in fi
Author: admin (Infratructure Today)
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Sambalpur to have a flyover to ease traffic congestion
In Odisha's Sambalpur, the Public Works Department has planned a flyover in the heart of the city, keeping in view the rising traffic. The proposed 700-metre overbridge will connect Church Road and Peerbaba Chhak and pass over Laxmi Talkies and Golebazaar Chhak, the two busy business hubs of the town. Though estimation of the project is yet to be finalised, officials said it would cost nearly Rs 20 crore to Rs 25 crore.
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Rate hike not a precursor to tight money policy: FM
Reserve Bank of India's measures to ease the rupee volatility should not be seen as tightening of policy rates, Union Finance Minister P Chidambaram has said. He was addressing a conclave of venture capitalists in Delhi on July 16. RBIĆās measures had a positive impact on the rupee on July 14, which ended at Rs 59.31 against the dollar, nearly one per cent higher than MondayĆās closing of Rs 59.81.
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NGT seeks report on mining dumps from Goa govt
By August 8, Goa government has been asked to submit details on the extent of mining dumps in and outside lease areas in the state to the national green tribunal (NGT). At a recent hearing, the tribunal received an assurance from the state government counsel that a complete report about the dumps will be filed and that it will be a common one for all the mine operators named as resp
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Gujarat govt seeks cut in tariffs for solar plants
Gujarat government, lauded by India Inc for being business friendly, has stumped industry as it seeks to back out of the high tariffs contracted for nearly 1,000 mw of solar plants of the Tatas, GMR, Adani, Bollywood star Ajay Devgn, Lanco and others. Gujarat Urja Vikas Nigam (GUVNL) has approached the regulator with a plea to reduce tariff from Rs 12.54 per unit to Rs 9 to cut its payment liabilities. It is arguing that the state agreed to pay tariff of 12.54 per unit based on the then availabl
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Odisha to bring in solar policy for more power production
To promote solar power production in Odisha, the State government has decided to formulate a solar policy soon. The policy will help streamline production, utilisation and management of solar energy in the state, Ramesh Majhi, the State's Science and Technology Minister said.
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AP govt invites application from solar power developers
Andhra Pradesh government invited solar power developers to submit applications within four weeks for setting up solar photovoltaic power plant in the state. The state government assured that it would pay Rs 6.49 per kWh of power generated from such plants. AP Transco proposed to rope in any solar power developer, even those who have not participated in the recen
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Goa govt complains to ACB over blackouts in tourist belt
Goa State Power Ministry has filed a case with the Anti-Corruption Bureau (ACB) after sub-standard work by a contractor led to major power cuts in the coastal belt of North Goa last week. The electricity department officials alleged that the kits on the 33 kv underground double circuit line connecting Thivim to Porvorim, travelling 15 km, conked off during monsoons, resulting in black outs in the coastal belt, which is a tourist hub.
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Assembly passes resolution to name terminal after MGR
Tamil Nadu has requested the Union government to name the second domestic terminal at the Chennai Airport after the former Chief Minister and the then popular hero actor MG Ramachandran. To this effect the Tamil Nadu Assembly passed a resolution. The State Chief Minister J Jayalalithaa moved the resolution in the Assembly.
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RBI takes further steps to contain rupee weakness
In order to contain the depreciation of rupee against the dollar, the Reserve Bank of India (RBI) raised the cost of borrowing under the marginal standing facility by 200 basis points. Further, the central bank restricted the amount of money that banks can borrow from its LAF window to just 1 per cent of deposits at Rs 75,000 crore citing the need to "restore stability to the foreign exchange mar