The government has announced a massive investment in IndiaÂ´s ports sector, which is likely to boost the countryÂ´s economy. The government has massive plans of developing ten coastal economic regions by reviving the countryÂ´s Sagarmala (string of ports) Project.
Urban India is important to the Indian economy, society, polity and the environment in more ways than one. For instance, nearly 600 million Indians would be living in cities by 2030, while cities would generate nearly 70 per cent of new jobs by 2030 and also produce more than 70 per cent of IndiaÂ´s gross domestic product.
The Finance Ministry and the Planning Commission have rejected the Union Shipping MinistryÂ´s proposal to waive Rs 715 crore of penal interest due from Cochin Port Trust (CPT) on a Rs 258-crore loan.Of the total penal amount of Rs 729 crore, the government could have forgone Rs 715 crore.
The Planning Commission has told Prime Minister Narendra Modi that additional funds of Rs 5.7 lakh crore will be required to complete 738 Central projects in various infrastructure sectors. Almost Rs 5.6 lakh crore has already been expended on these projects.
IDFs play a vital role as investment vehicles that can be sponsored by NBFCs and commercial banks in India. Shrikanth S writes on how IDFs are correcting the asset-liability mismatch, and also help advance loans for fresh infrastructure projects. The urgent need to improve infrastructure prompted the Indian Planning Commission to estimate infrastructure spending in the 12th Five Year Plan (2012-17).
The Planning Commission is firming up a proposal for setting up a Cabinet committee on transport. A decision will be taken only by the new Planning Commission, which will be constituted after the April-May general elections. The proposal is partly based on the recommendations of the National Transport Development Policy Committee, chaired by Rakesh Mohan.