Union finance ministry opposed the idea of the roads ministry to provide blanket relief to road developers who are suffering from financial crisis. Recently, the finance ministry received proposals from the roads ministry for restructuring the amount owed to the government by road developers
Tag: infrastructure
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Minister rejects rumours on UN advice for PPP projects
Planning Minister Rajeev Shukla denied rumours that the United Nations suggested India to avoid public-private partnership (PPP) model for developing infrastructure. It may be recalled that a recent study by the UN found that PPP model for infrastructure sector need not lead to improved disaster risk assessment and man
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Ministry sends proposal for infra status to housing sector
Minister for Housing and Urban Poverty Alleviation Girija Vyas informed that the proposal to assign infrastructure status to affordable housing sector was sent for consideration of 'Institutional Mechanism (IM) under the Harmonised Master List of Infrastructure sub-sectors'. The IM was constituted by the Ministry of Finance to consider assigning 'Infrastructure Status' to Affordable Housing Sector. The minister said this in reply to a question in th
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Govt takes steps to weed out issues in infra sector
A Planning Commission official informed that the government has taken several steps to issues in the implementation of PPP projects in road and other sectors. In an interview to a leading media, the official elaborated that the government brought road projects outside the ambit of the Indian Forest Act, 1927, following a Supreme Court order. Also, construction com
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277 central sector projects face delay
Minister of State (Independent) for Statistics and Programme Implementation Srikant Kumar Jena informed Lok Sabha that the ministry monitors 569 central sector projects costing Rs 150 crore and above. He further informed that of these 569 projects, 277 are running behind schedule as on June 1, 2013. These projects are delayed because of law and order problems, delay in land acquisitions, rehabilitation and
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Rs 100 bn sea link project finds no taker
Despite the 20 per cent viability gap funding offered by the government, no private player is ready to bid for the 22-km trans-harbour sea link road project connecting New Mumbai to Sewri. This is because infrastructure developers feel that the Rs 10,000-crore project is unviable as it involves high finance costs and lack of liquidity
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IRDA revises lending norms of insurance firms
The Insurance Regulatory and Development Authority (IRDA) decided to exclude lending by insurance firms to housing finance companies as exposure to the finance sector. In a statement, the insurance regulatory body said these loans would be henceforth treated as funding to the hous
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Govt extends JNNURM term by 2 years
The Ministry of Urban Development, Government of India extended the period of JNNURM by 2 more years for completion of ongoing projects or reforms. It has further approved sanctioning of new projects upto March 31, 2014 as a transitional phase. JnNURM completed its normal tenure of 7 years on March 31, 2012
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Govt may relax ECB norms
After holding consultation with Indian companies, especially in the infrastructure sector, the government may relax guidelines for accessing funds through external commercial borrowing (ECB), media reports indicate. Under the ECB route, borrowers can raise dollar-denominated loans directly from international banks, international capital markets, multilateral financial institutions such as International Finance Corporation and
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Govt may relax ECB norms
After holding consultation with Indian companies, especially in the infrastructure sector, the government may relax guidelines for accessing funds through external commercial borrowing (ECB), media reports indicate. Under the ECB route, borrowers can raise dollar-denominated loans directly from international banks, international capital markets, multilateral financial institutions such as International Finance Corporation and