Maharashtra government gave in-principle approval to the Rs 21,000-crore Elevated Rail Corridor Project between Oval Maidan and Virar in Mumbai. The state cabinet headed by Chief Minister Prithviraj Chavan gave the approval when the Western Railway General Manager made a presentation of the project at a recent meeting
Category: ECONOMY & POLICY
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Govt seeks rating upgrade from Fitch
At a meeting with the representatives of ratings agency Fitch, union finance ministry officials raised the issue of upgrading the credit rating of the country. However, during the meeting, the global rating agency expressed concerns on how deficits will be met and on the ability of the government to meet revenue targets
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West Bengal’s land policy hits its wind project
West Bengal Chief Minister Mamata Banerjee’s ‘no land acquisition’ policy has already impacted investment into West Bengal. Now, her policy to allocate State-held land through competitive bidding may prove to be a stumbling block in attracting investments in the Eastern region’s largest wind-farm project.
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Bangalore may get congestion pricing policy
Taking note of the Bangalore's excessive traffic problems, the Centre has sent a proposal notification to the Karnataka government to implement congestion pricing policy to ensure the Indian ITcity is free from excessive motorisation. If it is implemented a peak-hour ride though the city's Central Business District (CBD) may soon come at a price for motorists.
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TN govt to set up three more sewage plants
The Tamil Nadu government is in the process of setting up three more sewage treatment plants (STPs) in Chennai. The plants would be set up in Villivakkam, with a capacity to process 135 million litre per day (mn ld) of sewerage, Sholinganallur (100 mn ld) and Navalur (6 mn ld)
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‘Govt is studying SEZ developers’ demands’
The Union Ministry of Commerce has said recently that concerns of developers and units in revamping the SEZ (special economic zone) Act has been taken seriously by the government. After taking into consideration the views, concerns and opinions of various stakeholders, the Department of Commerce has now submitted its report and it is under the active consideration of the Union Government, Madhusudan Prasad, Additional Secretary, Union Ministry of Commerce said.
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Govt may auction 68 blocks under NELP X
Media reports indicate that around 68 oil and gas blocks may be auctioned by the government during the the 10th round of New Exploration Licensing Policy (NELP) in 2013-14. Union petroleum ministry and the Directorate General of Hydrocarbons (DGH) are in the process of securing various clearances for offering the
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Govt grants SEZ notification to Infosys for Indore project
Infosys has received a notification for its proposed special economic zone (SEZ) in Super Corridor area of Indore. The notification was issued by the Union Ministry of Commerce and Industry recently. However, the notification is yet to find mention in the gazette and it was likely to happen within a week's time, said sources. In case of TCS, it will take few more days for getting the notification, he said.
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Rs 1,800 cr worth 3 projects to come up in Vizag port
In Visakhapatnam port, three major projects, with an investment of Rs 1,800 crore, are being taken up and the finalisation of bids for the same is being undertaken this week. The bids for extension of container terminal, involving an investment of Rs 633 crore, were opened on March 27. The bids for mechanisation and upgradation of existing facilities at iron ore handling complex (OHC) and West Quay North (WQ-7 and 8 berths) were scheduled to be opened on March 28.
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Bankers begin initiative to move stalled infra projects
Taking note of Finance Minister P ChidambaramÂ’s suggestion, chiefs of public sector banks (PSBs) and State-owned financial institutions on March 18, banks have begun the process of region-wise stock-taking of new and stalled infrastructure projects. The first meeting of bankers, organised by Canara Bank, was held in Bangalore last week.