The Thiruvananthapuram Development Authority (TRIDA) has stated that major road works, including widening of important link roads will start this financial year itself. The Kerala government's budget has also cleared the proposals concerned in this regard. In addition to completing the renovation of 42 kilometres of city roads, widening works on another 60 kilometres will be undertaken this year, TRIDA Chairman PK Venugopal said.
Tag: budget
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IEA expects muted demand for crude oil
According to International Energy Agency (IEA), demand for oil across the globe would remain muted because of worsening Chinese business sentiment, a slowdown in European economies and the impact of budget cuts by the US government. In its monthly oil market report, the agency said the above factors seem to delay further an elusive turnaround in global economic, and in turn oil demand,
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Court directs OMCs not to open new outlets
Karnataka high court directed all state-run oil marketing companies (OMCs) not to open new retail outlets till it completes the heading of a petition filed by an dealers association. The Karnataka State Petroleum Dealers Welfare Association filed a petition with the court after OMCs kept
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SCI plans to invest Rs 19 bn in FY14
Shipping Corporation of India (SCI) plans to spend
Rs 1,939 crore during 2013-14, far less than Rs 2,497 crore spent in 2012-13, Union budget documents shows. The investment would be financed through internal and extra budgetary resources. Sunil Thapar, director-bulk and tanker division, SCI said the company wants to cons
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Industry welcomes removal of duty
Anil Devli, Chief Executive Officer of Indian National Ship Owners Association informed that the removal of excise and countervailing duty (CVD) is a big boost to the shipbuilders. He said the move would see more ships being built in India now. The Rs 300-crore subsidy will increase the cash flow, Dhananjay Datar, group Chief Financial officer, ABG Shipyard, said
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Oil minister does not favour change in formula
Union Petroleum Minister M Veerappa Moily warned against the move by the Finance Ministry to change the subsidy calculation formula for state-run oil marketing companies (OMCs). The finance ministry has proposed to shift from trade parity pricing of petroleum products to export parity pricing (for the sake of computing under-recoveries
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Assocham wants govt to allow Railways to refine oil
In order to immunize the finances of Indian Railways from the diesel price hike, industry body Assocham asked government to allow the public sector undertaking to import and refine its own crude oil. By importing and refining crude oil by itself, the Indian Railways can avoid paying about 20-25 percent sales and other local taxes on diesel. The Railways, run as a
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Union budget may boost growth in infra sector
Union Budget 2013-14 is expected to boost growth in the infrastructure sector as it has announced several new initiatives. For example, the budget proposed taking up two new cities -" Dholera in Maharashtra and Shendra Bidkin in Gujarat -" under the Delhi Mumbai Industrial Corridor Project. Finance Minister P Chidambaram said the government will provide additional funds for the project in 20
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Kolkata Port awaits centre’s nod for Rs 78 bn project
Kolkata Port Trust Chairman RPS Kahlon informed that the port was awaiting cabinet approval from the centre for the Rs 7851 crore Sagar port project in West Bengal. The West Bengal cabinet had approved the project and Kahlon expects the union cabinet to clear it soon
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Budget may have mixed impact on oil and gas sector
Industry watchers feel that the budget 2013-14 was a mixed bag for the oil and gas sector. While the Finance Minister announced that his government would soon release shale gas policy and review the pricing of natural gas, industry players are cautious. They feel that one has to wait and watch how the