According to a report of the Union Ministry of Statistics and Programme Implementation 46.8 per cent (97) of 207 projects classified as mega infrastructure projects costing more than Rs 1,000 crore are facing delays. The data also stated that till May the delayed projects saw a cost overrun of 11.8 per cent from the originally sanctioned Rs 6.99 lakh crore to Rs 7.81 lakh.
Category: ECONOMY & POLICY
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Polavaram dam is for irrigation of Rabi, perennial crops as well
As per the information furnished by the Government of Andhra Pradesh, some Telengana leaders have represented the case related with alternative design of Polavaram Project. The proposal submitted by T. Hanumanth Rao, former Engineer-in-Chief, Andhra Pradesh and UN Consultant was examined by the State Government and found not feasible both technically and economically.
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GAIL India faces delay in pipeline project
The 900 km gas pipeline project of GAIL India is facing delay because of land acquisition issue in Kerala and Tamil Nadu. It is learnt that GAIL has so far completed only 30 km of the pipeline. GAIL India is constructing a 505 km pipeline through Kerala, 310 km through Tamilnadu and 85 km through Karnataka
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Current Account Deficit will be at 3.7% of GDP: Govt
The Union Finance Minister P Chidambaram has recently told the Parliament that his Ministry has taken several measures to ensure the Current Account Deficit (CAD) be fully and safely financed in the current year. If the CAD is contained at $70.0 billion, it will amount to 3.7 per cent of GDP (as against 4.8 per cent in 2012-13), Chidambaram said.
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Rupee weakness puts upward pressure on interest rates
Interest rate in India is rising on the back of the steep decline in the value of rupee against the dollar in recent months. Experts feel that the depreciating rupee raises domestic interest rate through three ways. First, in order to discourage speculation in the currency market, Reserve Bank of India (RBI) tightens liquidity and raises shor
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Cabinet may consider approval for large projects
Union cabinet may consider approval for several large-sized infrastructure projects, costing at least Rs 1,000 crore, to ensure expeditious clearances. Union finance ministry is learnt to have sought specific comments from the concerned ministries on pending approvals
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Centre receives proposals for monorail projects
The Tamil Nadu government sent a proposal to the central government for a Chennai City mono rail project. The state government decided to implement Phase 1 of the Chennai Monorail Project of a total length of 57.09 km
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Supreme Infra bags Rs 1,111 cr orders
Supreme Infrastructure India has bagged orders worth Rs 1,111.90 crore. In West India, in Mumbai, Supreme Infra has secured Rs 150 crore contract for a Sewage Treatment Plant at Bhayendar and Rs 145.4 crore contract from MSEDCL in joint venture with Patwari Electricals.
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China takes initiative for fast-growth of cruise industry
With its new terminals, the government of China has taken initiative in the cruise industry. The country has big plans for more facilities and a luxury ship to bring more foreign tourists ashore and capitalise on domestic travellers wanting to sail the high seas, say news agency reports. The China government, the local authorities, need to support the cruise lines in exercising international practice here, said Liu Zinan, the Chairman in Shanghai of Florida-based cruise operator Royal Caribbean
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HC asks govt to appoint experts to monitor hydel projects
The High Court of Himachal Pradesh has asked the State government to ensure appointment of expert professionals to supervise and monitor hydel projects for protection of fragile ecology of the state. Whie granting permission to the companies concerned, the government should impose a condition of appointing the professionals to monitor construction of hydel projects during their construcitn, the bench said.