Union Shipping Minister GK Vasan informed Lok Sabha that some ports in the country received muted response for their tax-free bond issues mainly on account of weak market sentiments and low coupon rates. While Jawaharlal Nehru Port (JNPT) wanted to raise Rs 2,000 crore through issue of tax-free bonds, the actual subs
Tag: finance
Post
Post
AP govt takes steps for right of way to metro project
Andhra Pradesh government is taking efforts to give right of way for the elevated Hyderabad Metro Rail project being executed by Larsen and Toubro. The state government is taking steps to shift utilities such as water lines, sewer lines, electrical overhead lines and underground cables, electrical poles, street lights, advertisement boards
Post
Govt , RBI took steps to boost investment
The Union Budget 2013-14 has outlined several initiatives to boost investment in infrastructure and industry, that inter-alia include encouraging Infrastructure Debt Funds, credit enhancement to infrastructure companies, raising the corpus of Rural Infrastructure Development Fund, introduction of investment allowance for new high value investments etc. Minister of State for Finance, Namo Narain Meena informed this in the Lok Sabha recently
Post
Ahluwalia urges pvt sector to invest $500 bn in infra projects
With the government consolidating its fiscal position, Planning Commission Deputy Chairman Montek Singh Ahluwalia urged private sector to contribute no less than 50 per cent of the estimated investment in infrastructure in the 12th five year plan (2012-17). It may be noted that the government estimated $1 trillion investment in infrastructure during this period. Ahluwalia said there are zero prospects of the gove
Post
Plan panel clears Rs 5.48 tn outlay for railways in 12th plan
The Planning Commission approved an outlay of Rs 5.19 lakh crore for Indian Railways in the Twelfth Five Year Plan (2012-2017). It may be noted that the railway ministry proposed an outlay of Rs 5.48 lakh crore. This information was given by the Minister of State for Railways Adhir Ranjan Chowdhury in Rajya Sabha. The total outlay cleared by the commission includes
Post
World Bank chief welcomes idea of BRICS bank
World Bank President Jim Young Kim welcomed the idea of setting up a bank collectively by Brazil, Russia, India, China and South Africa or BRICS countries in order to fund their infrastructure projects. He said every single BRICS country has an enormous infrastructure deficit that simply can't be met by a single institution, certainly not the World Bank in and of itself
Post
L&T arm to raise $500 mn infra debt fund
In order to invest in distressed assets, particularly in the roads segment, L&T Infrastructure Finance plans to mop up $500-million ( Rs 2,708 crore) by floating its maiden debt fund. Media reports indicate that the fund would also invest in renewable energy, power and urban infrastructure projects
Post
Banks bet big on retail credit
With credit flow to corporate sector remaining weak, banks are betting big on advances to the retail sector. Banks expect that advances to retail customers would support credit growth in 2013-14 like the previous year. That is because demand for credit from the corporate sector is weak. Although some banks are confident that credit flow to corporate sector would improve eventually, for the time
Post
RBI liberalises overseas investment norms for state-run oil firms
Reserve Bank of India (RBI) allowed state-run oil explorers to invest in their incorporated overseas entities without any limits under the automatic route. It may be recalled that earlier, the navratna public sector undertakings (PSUs) like OVL and OIL were allowed to invest in overseas unincorporated entities only. But the central bank liberalised the existing norms to enable these firms to invest in the incorporated JV/WOS in oil se
Post
IIFL gets Rs 628 crore commitment for AIF
The IIFL Income Opportunities Fund of the diversified financial company India Infoline received commitment of Rs 628 crore. The IIFL Income Opportunities Fund is an alternate investment fund (AIF) of the company and according to the company press release it is the country's largest AIF fund raising till