Union minister Nitin Gadkari has said the Centre is targeting a net profit of Rs 2,500 crore from its 12 major ports in the next two years. Shipping and waterways would contribute at least one per cent to the country´s GDP by March 2016, he added.
Tag: Cabinet
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Posco needs to file fresh approval
Steel major Posco would have to file a new proposal for setting up its $12-billion steel venture in Odisha if it wants to pursue the project.The company was sounded out at a recent meeting among officials of the Central and state governments
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Cabinet nod for India-Mozambique MoU
The Cabinet approved the signing of a memorandum of understanding (MoU) between India and Mozambique for five-year cooperation in the oil and gas sector.
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FDI norms eased in construction
The Cabinet has relaxed norms for foreign direct investment (FDI) in construction development to make the sector more attractive for overseas investors.
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Oil & Gas Stepping on the Gas
The complete deregulation of diesel prices and the announcement of the new gas pricing formula are bound to give a fillip to the oil & gas sector in the country. Finally, the oil & gas sector has been visited by the ´reforms
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Rs.20,000-cr boost for SMEs
The Central Government announced a Rs 20,000-crore scheme for enhancing competitiveness of small and medium enterprises in the capital goods sector.
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Centre, States to track projects
The Centre and States have decided to join force to set up a mechanism to fast-track stalled infrastructure projects. The proposed ´joint mechanism´, to be headed by Cabinet Secretary Ajit Seth
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Panel likely to bring hope for road developers
The report by the C Rangarajan headed committee, set up by the Cabinet to decide on premium payments for road projects awarded in the last two-three years on a public-private partnership basis, is expected to submit its report soon.
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Cabinet to discuss shale oil and gas exploration policy
A top official of the Union Ministry of Petroleum & Natural Gas has stated that the ministry has finalised a shale oil and gas exploration policy, which will be tabled before the cabinet soon after the oil minister Marpadi Veerappa Moily approves it. However, in contrast to the Oil Ministry's statement, the Ministry of Environment and Forest said that exploitation of shale resources could lead to water crisis in India.
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CCEA to consider OVL, OIL proposal
The proposal by ONGC Videsh (OVL) and Oil India (OIL) to pick up Videocon Mauritius EnergyÂ’s 10 percent stake in MozambiqueÂ’s Rovuma 1 block is awaiting the approval of the union cabinet. The petroleum ministry moved a note before the cabinet committee on economic affairs for approval. The acquisition would be completed soon, oil minister M Veer