The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
Category: ECONOMY & POLICY
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Govt to promote affordable housing via novel scheme
Union Minister of Housing and Urban Poverty Alleviation Girija Vyas informed that the government would soon launch the Revised Affordable Housing in Partnership (AHP) scheme. The minister said this while addressing the REALTY 2013, Confederation of Indian IndustryÂ’s (CIIÂ’s) flagship con
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FIIs buy govt stake in state-run firms
The government raised about Rs 23,830 crore offloading stake in 7 state-run firms during 2012-13. 39 percent of this amount came from FIIs, union government said in a press release. Only about 25 percent came from Insurance Companies including LIC and less than 10 percent from banks including Public Sect
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Ficci suggests govt to promote R&D
In a statement, industry body Ficci asked government to stick to its commitment for a steady increase in budget outlay for research and development (R&D) and double the current investments over next 5-8 years. The chamber also suggested the government to create an aggressive policy environment for boosting private sector investment in R
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Govt to raise Rs 350 cr via stake sale in NLC
The Union government's 3.56 per cent stake sale of Neyveli Lignite Corporation (NLC) through the institutional placement route was scheduled to hit the markets on August 2 and is expected to fetch around Rs 350 crore to the exchequer. The government is selling 3.56 per cent stake or over 5.58 crore shares in NLC through an institutional placement programme (IPP) in which the Tamil Nadu based state entities would be given preference while allotment of shares.
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J&K govt to set up new cement plant in Khrew
To capture local market share for cement, the Jammu and Kashmir government will set up a cement plant with 1000 tonne per day capacity. The Government on July 31 decided to set up one more 1000 tonne per day cement plant in public sector over 12 hectares at the existing J&K Cements plant at Khrew in Pulwama, an official concerned said.
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We are decades behind in employing mixed land use
We should have the backup city plan where we can really bring everything close to public transport. Samir Sharma, Associate Vice President, Transport Planning Group, Delhi Integrated Multi-Modal Transit System (DIMTS),
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ECB norm relaxation
EAfter holding consultation with Indian companies, especially in the infrastructure sector, the government may relax guidelines for accessing funds through external commercial borrowing (ECB).
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DCI plans to spend Rs 19 bn
In the 12th Five Year Plan (2012-17), Dredging Corporation of India (DCI) has planned a capital expenditure of about Rs 1,972 crore. This includes placing order for two more 9,000 cu m capacity dredgers.
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New definition of control
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of the Department of Industrial Policy & Promotion for amendment to the existing definition of "control" under the FDI policy.