Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 6, 2013, the government cleared six proposals of Foreign Direct Investment (FDI) amounting to Rs 732.77 crore approximately. The proposal includes the plan of Navayuga Road Projects , Hyderabad to act as an investing company and to m
Tag: capital
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Minister may hold meeting with PSUs to review investment
Between March 22 and April 22 Finance Minister P Chidambaram may hold a meeting with heads of public sector undertakings (PSUs) to review their capital expenditure plan, reports suggest. During the meeting, the minister may discuss capital expenditure plans of PSUs for the coming financial year and also to prod the private sector to invest more
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Delhi govt to spend Rs 374 bn in 2013-14
Delhi Chief Minister Sheila Dikshit presented the budget for 2013-14 which pegged the overall outlay for the financial year at Rs 37,450 crore. While the state government allocated Rs 16,000 crore for plan expenditure, the total non plan expenditure has been proposed at Rs 21,000 crore
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Govt clarifies on FDI in oil and gas projects
According to the extant Foreign Direct Investment (FDI) policy, FDI, up to 100 percent, is permitted, under the automatic route, for exploration activities of oil and natural gas fields. This information was given by the Minister of State in the Ministry of Commerce & Industry, D Purandeswari in a written reply in the Rajya Sabha
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Experts suggest ports to spend on dredging
Experts suggest that Indian ports need to increase their draft by spending on dredging activity. As vessels get bigger, to reduce the unit cost of transportation, it becomes important for ports to have deep drafts to enable larger vessels to call on them, experts argue. Some firms like Adani Port and SEZ invested significantly in dredging equipment to maintain the channel depth. Ports under the central government spen
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Finance ministry taking steps to boost foreign capital inflows
Union finance ministry is taking various steps to promote foreign investment, both foreign direct investment (FDI) and foreign institutional investment (FII) into the country. Among the various steps being taken is the review of the policy on foreign direct investment and look at the possibility of relaxing the sectoral caps, as well as removal or simplification of conditions identified for ever
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SBI gets Rs 30 bn capital infusion from govt
In a move that raised the shareholding of government in State Bank of India (SBI) to 62.31 per cent from 61.58 per cent, the centre infused Rs 3,004 crore capital into the bank. The countryĂâs largest lender, in return, alloted 12.9 million preferential equity shares at Rs 2,312.78 a share to the government
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Home loan borrowers shift lenders
Media reports indicate that several home loan borrowers have moved their loans to banks that are offering lower rates (especially SBI) owing to cost advantage. The movement of existing home loan borrowers from one bank to another is happening at a time when the overall growth for the industry is flat, some analysts opine. A sha
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Nifty banking index rises considerably
The Nifty banking index has risen considerably in the last one year because of several factors even though the general financial health of several banks remain patchy, analysts said. The National Stock ExchangeĂâs Nifty banking index, a barometer of banking company stocks, has risen 50 percent in the past one year, belying general economic performance and expectations from the banking busin
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KIOCL, SAIL in talks over rare-earth project in Kerala
KIOCL is reportedly in discussion with Steel Authority of India (SAIL) to set up a joint venture to explore rare earth minerals in Kerala. The joint venture project may also engage bodies like Kerala State Industrial Development Corporation and Kerala Mineral Development Corporation