Media reports indicate that the government may take steps to develop financial markets in the country, as part of its economic reform drive. In this regard, the government may launch financial instruments intended to encourage foreign sovereign wealth funds to invest long-term money in India. The Indian government is desperately trying to attract foreign investment into the Indian financial market in order to bridge the high current account defic
Tag: ministry
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Ministry aims to award 30 port projects
During 2013-14, union shipping ministry plans to award 30 port projects worth around Rs 25,000 crore investment. Union Shipping Minister GK Vasan informed media persons that these projects would bring in an additional capacity of 288 million tonne per annum at an estimated investment of Rs 24,633 crore
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Ministry sets up panel to make financial sector competitive
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
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Ministry may float fresh tender for procuring ethanol
Media reports suggest that the union petroleum ministry may float fresh tender to attract domestic suppliers of ethanol for blending with petrol. The ministry decided to float a fresh tender because the earlier tender, which invited global suppliers, could not be successful as the bidders were demanding exorbitant rates for the biofuel
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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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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
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Ministry gives green nod to Anketell port project
API Management Pty received conditional approval from the Australian environment ministry for its proposed Anketell Point port project in the western part of the country. API Management is a joint venture between coal miner Aquila Resources and mining investment company American Metals and Coal International (AMCI). The firm wan
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Govt to set up mechanism for dispute resolution in PPP projects
Based on the direction from Prime Minister Manmohan Singh, the Planning Commission will prepare the draft Bill on Dispute Resolution in public contracts in consultation with all stakeholders and ministries. In a first step to improve the institutional arrangement for dispute settlement, Singh asked the panel to prepare a draft bill to put in place a mechanism for
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Ministry circulates note seeking hike in gas price
Union Petroleum ministry has circulated a note to the Cabinet Committee on Economic Affairs (CCEA) seeking hike in the price of natural gas produced by both private and state-run companies. The ministry's proposal, if accepted by the CCEA, may benefit firms like ONGC, OIL, Reliance Industries (RIL), Cairn India who are selling the fuel at a pre-determined price
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DGH not inclined to clear RIL proposal
The Directorate General of Hydrocarbons (DGH), the technical arm of the union petroleum ministry, is not in favour of approving the Reliance Industries' (RIL) proposal to conduct separate testing for D-29, 30 & 31. Earlier in May, the firm sought permission for conducting separate tests at its three gas discoveries i.e D-29, 30 & 31. This is a shift away from the com