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.
Tag: India
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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.
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Study on Mumbai-A’bad high-speed train in 18 months
To conduct a detailed feasibility study on a high-speed train between Mumbai and Ahmedabad, India and Japan will soon sign an agreement. The study is to take 18 months to complete.
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Delhi and Birmingham airports sign MOU to strengthen links between the two cities
Following the recent launch of direct flights between Delhi International Airport (India) and Birmingham Airport (UK), the two airports have signed a Memorandum of Understanding (MOU) to formalize a working relationship and commit to developing links between the two cities even further.
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Govt invites bids for solar plants
India has called bids for solar plants. To build 750 megawatts of solar plants, India is offering Rs 18.75 billion ($303 million) grants, say media reports. The bids are due by November 29, State-run Solar Energy Corp. of India said on its website.
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Russia plans to make commercial aircraft in India
In a move to slash cost of aircraft production India and Russia are planning production of two types of commercial aircraft in India. The move is expected to cut down the cost of aircraft production by 40 per cent, say media reports. Both the countries eye possible production of Russia's Superjet 100 regional airliner and a future Irkut MS-21 jetliner on the territory of India.
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Cluster concept suggested to Indian shipbuilding
For the benefit of shipbuilding and repair sector in India, formation of a cluster concept has been suggested. The suggestion has been made by the Parliamentary Standing Committee on Transport.
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Infra trust fund on its way
Under the finance ministry's new announcement, the revenues of a project will be transferred to the trust, which will then issue units to investors. Shilpi Aggarwal says the government is seeking innovative financing solutions for infrastructure.
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IIFCL to get $700 mn ADB infra loan
To fund India's infrastructural projects, the Manila-based Asian Development Bank (ADB) will give $ 700 million to the India Infrastructure Finance Company IIFCL) in the next one-and-a-half years. Of the $700 billion, $400 billion would be given to IIFCL by early 2014 and the remaining by early 2015.
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Portman joins UK firm Nectar Group
Portman India has collaborated with
UK-based Nectar Group and entered into 50:50 joint venture (JV) contract with it for professional services in design, development and operations of ports and terminals in India.