GMR entered the Maldives after realising the lack of potential in India for large airport projects. The relatively new global infrastructure is reportedly not insured against political risk—only to find itself stranded after a government change in that country.Pro China sentiments along with commercial disputes used by some extremists and political parties in Maldives have provoked anti-India sentiments which resulted in GMR’s Male airport confl ict.
Category: Infrastructure Finance
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2G Auction Base Price Slashed
The panel of ministers on spectrum has reduced the base price for unsold airwaves in four regions Delhi, Mumbai, Karnataka and Rajasthan - by 30 per cent, and approved the telecom departmentÂ’s plan to simultaneously sell these airwaves along with a portion of spectrum held by incumbent operators before March 31, Telecom Minister Kapil Sibal said
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‘No scheme from states to fund national highways’
The Union government has taken up development of National Highways (NHs) under the National Highways Development Project (NHDP) & Non-NHDP, said the Union Minister of Road Transport and Highways Sarvey Sathyanarayana. He added that there is no scheme for development of NHs with funding assistance from the State Governments.
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‘No scheme from states to fund national highways’
The Union government has taken up development of National Highways (NHs) under the National Highways Development Project (NHDP) & Non-NHDP, said the Union Minister of Road Transport and Highways Sarvey Sathyanarayana. He added that there is no scheme for development of NHs with funding assistance from the State Governments.
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Chhattisgarhs allots Rs 19 bn for urban projects
Chhattisgarh Chief Minister Raman Singh informed that the state government earmarked Rs 1,900 crore as budget outlay for the urban development department. Singh remarked that money would not be a matter when it came to take up development works in the urban localities and provide better civic amenities to the people
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NPAs of state-run banks rise to Rs 1.43 trillion
The non-performing assets (NPAs) of state-run banks rose to Rs 143,765 crore as at end September, 2012 from Rs 112,489 crore at the end of March, 2012, Minister of State for Finance Namo Narain Meena informed the Rajya Sabha. Of the total gross NPAs of state-run banks, 31.9 per cent belon
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Japan to announce more loan for corridor project
Japan Prime Minister Yoshihiko Noda informed that the country would announce the second round of loans under Overseas Development Assistance (ODA) for the second phase of the Dedicated Freight Corridor and a third infrastructural project in South India, reports suggest. Noda has reportedly informed this to Prime Minister Manmohan Singh when the two leaders met on the sideli
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Banks admin offices allowed in Tier-I cities sans RBI nod
The Reserve Bank of India has stated on November 20 that banks need not seek permission from it to open administrative offices in large cities (Tier-I).
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Chidambaram predicts high growth in a year or two
Indian economy will be back in high-growth trajectory in a couple of years, Union Finance Minister P Chidambaram expressed confidence on November 20.
He said that there was no scope for gloom or despair.
Chidambaram said that the world economy slowed down in 2008 and the crisis continues and it is not clear if it would pick up in 2013.
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RBI tells banks to restrict financing of gold purchases
The Reserve Bank of India has asked banks in the country to restrict financing of purchases of gold in the form of bullion, jewellery and coins or units of exchange traded funds, in the latest of the measure to restrict gold imports to counter ballooning fiscal deficit.