The Pradhan Mantri Awas Yojana (PMAY) or Housing for All by 2022, launched on the 25th of June 2015, is a highly ambitious programme. As the name suggests, the programme aims to provide a house to every Indian by 2022, i.e., in the next seven years.
Category: ECONOMY & POLICY
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SunEdison sells 425-MW projs for $231 mn
SunEdison Inc and TerraForm Global Inc have entered into an agreement for the former to sell the latter a series of projects located in India for $231 million. The projects have a generating capacity of 425 megawatts (MW).
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Govt eases bilateral aid norms to spur investments
In a decision whose significance will play out over time, the Modi government made it easier for India to accept bilateral aid from foreign countries, hoping it would attract investment in infrastructure and boost the ´Make in India´ project. India will now accept assistance from countries other than the five on the official list
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Incentives given to exporters to help boost shipments: Nirmala
A host of incentives including extension of 3 per cent interest subsidy will help in boosting exports, which are in negative zone since December last year, Commerce and Industry Minister Nirmala Sitharaman said.
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FM Arun Jaitley asks PSU banks to remove NPA blotch
Finance Minister Arun Jaitley has asked state-run banks to clean-up their balance sheets of non-performing assets, saying the government was willing to take the necessary policy corrective measures to help them.
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Gammon lenders to acquire 51% stake
Lenders led by ICICI Bank have decided to initiate a strategic debt restructuring (SDR) exercise at Gammon India, which will give them a 51 per cent stake in the construction and engineering company.
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Govt plans to put 98% sectors for FDI
Government is planning to put 98 per cent of sectors, which are open to foreign investments, under the automatic route so that businessmen won´t need to visit the Finance Ministry or ´Udyog Bhavan´ for any approval, a top official said.
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AP looks to knock Gujarat off its perch
Seeking to oust Gujarat from the numero uno position in coastal traffic, the Andhra Pradesh Government is readying an ambitious plan for integrated port development.
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KITCO bids to prepare DPR for bypass project
KITCO, a technical consultancy organisation established by various commercial banks and the Small Industries Development Bank of India (SIDBI), is the lone bidder that has evinced interest in preparing a detailed project report (DPR) to convert the Kozhikode Bypass into a four-lane carriage way.
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Gurgaon identifies 16 dumping sites
The Municipal Corporation of Gurgaon (MCG) has identified 16 sites to dump construction and demolition waste in an attempt to check the rising pollution levels in the city. The dumping areas have been divided into four zones.