Union finance ministry set up a council of experts headed by the Economic affairs secretary to suggest measures to enhance the competitiveness of India's financial sector. For this purpose, the ministry constituted the Standing Council of Experts whose members include Chief Economic Adviser (also Alternate Chair), Prithvi Haldea (Chairman, Prime Database), Nachiket Mor (Cha
Tag: investment
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Indian infra sector presents huge opportunity for Aussie firms
The huge infrastructure investment target in the next five years in India presents great opportunity for Australian companies, a recent submission to the Australian Department of Foreign Affairs & Trade (DFAT) by researchers Amal Varghese and others shows. An opportunity exists for Australia to play a larger role in facilitating the financing (through structures such as public private partnerships) and leading practice governance models to support large infrastructure proje
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Odisha CM wants Posco to begin work on project
Odisha Chief Minister Naveen Patnaik has reportedly asked Posco India to begin work on the much-delayed 8 million tonne per annum (mn tpa) steel project in Jagatsinghpur district. However, the Indian arm of the South Korean steel maker faces two key problems for the proposed steel project. They are land and environment clearance
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World Bank expects Indian economy to grow 5.7% in FY14
World Bank expects India's GDP at factor cost to grow 5.7 per cent in 2013-14 and then accelerate to 6.5 per cent and 6.7 per cent in the two subsequent financial years, respectively. The multilateral lending agency said this in its Global Economic Prospects report released recently. In 2012-13, the economy expanded at a decade-low pace of 5 percent. The report notes that growth in South Asia would primarily be driven by an estimated pick-
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Panel to clear highway projects less than Rs 5 bn
Highway projects worth costing less than Rs 500 crore may be approved by the Standing Finance Committee chaired by the union road transport and highways secretary. A proposal to this effect was approved by the Cabinet Committee on Economic Affairs (CCEA) recently. A statement released by CCEA said the committee will clear all p
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Govt to announce more economic reforms to revive growth
Union Finance Minister informed that the government would unleash more economic reforms in the coming days and weeks in order to rev up the investor sentiment and spur growth momentum. The government is expected to expedite implementation of around 40 projects out of the 250 private sector projects that can quickly take off the ground and, thereby, boost economic growth, reports indicate
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Kerala govt to take up Rs100 bn road projects
The Kerala state cabinet cleared the proposed road or flyover projects across the state under an ambitious Rs 10,000-crore programme. The state government would create a Road Development Fund Board to undertake the projects. The board would implement the projects by taking loan, which would be guaranteed by the state government
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Dighi Port to invest upto Rs 18 bn to develop infrastructure
Dighi Port, the first and the largest greenfield port of Maharashtra, is located at a distance of 42 nautical miles (NM) from Mumbai Port and 170 km south of Mumbai by road.
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Banks asked to provide credit to power starved firms
Commercial banks received a direction from the Reserve Bank of India (RBI) to provide credit to companies in Andhra Pradesh which are suffering from paucity of power. Earlier, the Visakhapatnam Chamber of Commerce and Industry discussed the problems being faced by the business in the state owing to non-availability and shortage of power with the Union Ministry of Commerce and I
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Govt to take steps to support foreign investment
Raghuram G Rajan, Chief Economic Adviser, Ministry of Finance assured that the government will continue to implement measures to ease foreign investor portfolio inflows and some will be done very shortly. He also said that the government continues to undertake measures to ensure the current account deficit (CAD) is safely financed. In the coming weeks, the government will be recommending the policies to enha