In a bid to tackle volatility in the currency market, Finance Minister P Chidambaram said the government would work towards limiting the current account deficit (CAD) to 3.7 percent of GDP, or $70 billion in 2013-14.
Further, he said the deficit would be financed fully and safely. In order to restrict the current account deficit to 3.7 percent of GDP, government plans to control demand for impo
Tag: investment
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Govt aims to limit CAD at 3.7% of GDP
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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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Govt must pursue investor friendly policies in oil and gas sector
Some analysts attribute the abandoning of 15 oil and gas blocks by BP and Reliance Industries (RIL) to unfriendly investor policy of the government. But BP termed the relinquishment of blocks as a routine "portfolio management" exercise. These 15 blocks are part of the 21 blocks for which BP struck a $7.2-billion deal. According to industry observers, the development does not augur well for the dom
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Krishnapatnam Port holds talks with PEs to offload stake
Media reports indicate that Krishnapatnam Port Company is holding discussion with some private equity funds to offload 6 percent stake and thereby mop up Rs 1,200 cr. The company wants to raise capital in order to expand the capacity of the port to 75 mn tonne from the current 50 mn tonne. It has plans to ramp up capacities to 100
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Govt preparing study on Delhi-Jaipur Expressway project
The government has is preparing the feasibility study for Delhi-Jaipur Expressway project. It will be too early to state about likely time of completion at this stage. This was stated by Sarvey Sathyanarayana, the Minister of State in the Ministry of Road Transport and Highways in response to a written question in Lok Sabha
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PE funds raise capital to finance business
Data from media reports indicate that 12 private equity funds are raising at least $6.6 billion for investment in Asia. Reports indicate that a substantial part of this amount would be invested in Indian businesses. The financing by private equity investors would meet the funding requ
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Minister stresses need to attract investment in oil and gas sector
In order to attract investment in the oil and gas sector, the government must take key reforms and the recent hike in natural gas price is a step in this direction, union oil Minister M Veerappa Moily remarked in a media. He pointed out that India was losing out to China when it comes to attracting investment in oil and gas sector from multinational companies. He also said that China has also taken decision to hike natural gas price to attract inve
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Minister clarifies on 2 major port projects
The government has decided to set up two new major ports – one each at Sagar in West Bengal and the other at Dugarajapatnam in Andhra Pradesh. This information was given by Minister of Shipping GK Vasan in a written reply in the Lok Sabha. In respect of the Sagar Port, RITES has estimated capital cost (including connectivity project) at Rs 7,820 crore. The tentative cost for Dugarajapatnam has been estim
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Govt to promote affordable housing via novel scheme
Union Minister of Housing and Urban Poverty Alleviation Girija Vyas informed that the government would soon launch the Revised Affordable Housing in Partnership (AHP) scheme. The minister said this while addressing the REALTY 2013, Confederation of Indian IndustryÂ’s (CIIÂ’s) flagship con
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Promoters, investors prefer debt instruments
Media reports indicate that promoters of Indian companies are increasingly preferring to raise funds through debt and investors are also willing to offer it through structured deals or their NBFC arms that could either be a part of their investment group or backed by them. Compared to equity funding, these investors prefer to deploy in debt instruments, reports indicate