India's Rs 72,000-crore rapid rail connectivity project is set to enter the next stage as the Union government and the State governments concerned likely to reach an agreement on cost-sharing of the project. The rapid rail project is to connect Delhi to Panipat (Haryana), Alwar (Rajasthan) and Meerut (Uttar Pradesh).
Tag: India
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Bank Indonesia to revive India operations
After a gap of nearly five years, Bank Internasional Indonesia is reviving its operations in India under its new promoter, the Malaysia-based Maybank group. Commercial banking operations of the bank will resume with a capital of $28 million from its single-branch office in Mumbai with an initial focus on corporate banking.
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Indian steel output growth lower than world average
In September, India's steel production growth fell short of the world average with the country clocking 4.7 per cent growth compared to the world average of 6.1 per cent. The World Steel Association (WSA) said India's steel output grew to 6.54 million tonne (mt) in September from 6.24 mt during the same month last year.
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India will go for gas, oil deal with Russia
India will not be wrapping the deal on Koodankulam 3 and 4 Energy pact with Russia.
Instead the country will push for an energy pact with Russia that could see a parallel twin gas and oil pipeline bringing energy overland into India. Indian Prime Minister Manmohan Singh arrived in Moscow on a two-day visit for the 14th India-Russian annual summit at the invitation of President Vladimir Putin on October 20.
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MSC plans rate hike for India-Europe trade
From November 4, Mediterranean Shipping Company India (MSC) targets to boost rates in its westbound trade from India to North Europe and the Mediterranean, the company has stated.
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India’s housing finance sector looks for growth
With an increase in the demand and supply of housing projects in the country, the housing finance sector is set to see higher growth in the next few years. As on last June 30, 2013 the total housing credit outstanding in India was over Rs 7.99 lakh crore, against Rs 7.59 lakh crore on March 31, 2013.
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Major ports’ container volume falls in 1st half
Container volume at major ports in India tumbled 4.5 per cent year-over-year in the first half of fiscal year 2013-14, but total cargo throughput was up 2.3 per cent, according to preliminary figures released by the Indian Ports Association (IPA).
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NHB to get Rs 500 cr UK loan for low-cost homes
For financing construction of affordable houses in India, British government's Department for International Development will give India's National Housing Bank (NHB) Rs 500-crore loan. The project will begin with eight low-income states -- Rajasthan, Madhya Pradesh, Odisha, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh and Jharkhand.
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PSU banks to get capital infusion to spur economy
The Union government is planning to stimulate the country's economy through capital infusion into government-owned banks. Prior to this act, the Union Finance Minister P Chidambaram will hold a meeting with RBI, bank chairmen and top officials of his ministry soon after his return from the US on October 17. Currently Chidambaram is on his tour in the US.
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Contract renegotiation may be a reality
The government is considering the introduction of a force majeure clause in public-private partnership projects to allow renegotiation of contracts to revive private participation in infrastructure development and salvage some big-ticket projects.