According to government data, the Cabinet Committee on Investments (CCI), which is headed by Prime Minister Manmohan Singh, helped clear projects worth investments of over $27 billion since it was set up in January. Some observers want the CCI to focus on all the projects instead of focusing on only selected projects. In an interview to a leading media, Naina Lal Kidwai, President of FICCI said the committee must shed its curre

Public sector oil marketing companies (OMCs) like Indian Oil (IOC) opposed the proposal of the finance ministry to adopt export pricing method for calculating under-recoveries on cooking gas and diesel. State-run OMCs argue that if the finance ministry's proposed formula for subsidy sharing is accepted, they stand to lose out on compensation and it will also impact their investment and expansion plans

A High-Level Committee, headed by Prime Minister Manmohan Singh decided to set up a Special Purpose Vehicle (SPV) for development and production of a civilian aircraft, of a 70-100 seater range. According to the proposal, the proposed SPV would gain design capabilities from National Aerospace Laboratories (NAL), Hindustan Aeronautics Limited (HAL) and other institutions in

Media reports indicate that the government would release the remaining dues to state-run oil marketing companies (OMCs) towards the under-recoveries incurred by these firms while selling fuel products at subsidised price. Earlier, Prime Minister Manmohan Singh asked the finance ministry to pay Rs 45,000 crore as its share of subsidy for Jan-Mar 2013 quarter

At a recent meeting of the high-level committee on manufacturing, Prime Minister Manmohan Singh cleared a Rs 45,000 crore investment plan of the steel ministry. Singh approved the investment proposal for ultra mega steel plants (UMSP) considering that the expanding infrastructure sector would raise demand for steel in the country. However, Planning Commission and the ministries of coal and mines objected to the approval given by the Prim

The government-owned carrier Air India has been asked by the the Union Civil Aviation Minister Ajit Singh to develop a hub in South India to target passenger traffic from the states in the region. Air India has to consider setting up a hub in Chennai or Bangalore. It can have its main hub in Delhi, Singh said.

At a recent review meeting of infrastructure ministries, Prime Minister Manmohan Singh asked the shipping ministry to award only one of the proposed two major port projects over the next six months. It may be recalled that the union budget 2013-14 proposed to set up two major port projects, one each in Andhra Pradesh and West Bengal. Of late, private companies developed cold shoulder in implementing projects in the port sector. Projects award

The Prime Minister's Office on July 2 said that the Jet Airways-Etihad deal was still under examination. Amid controversy over deal, the PMO clarified that the issues raised over the issue have been referred to various ministries concerned. It also asserted there were no differences within the government over the air services agreement between India and Abu Dhabi.

The Union government on July 2 defended the nearly Rs.2,000 crore deal between Jet Airways and Abu Dhabi-based carrier Etihad, saying the investment is important for India and opposition to the pact is politically motivated. Those opposing the deal are long on politics and short on facts, Union Civil Aviation Minister Ajit Singh said about the widespread opposition to the deal.