India Infrastructure Finance Company (IIFCL) has expressed confidence that during the current financial year it would be able to achieve its target of raising Rs 10,000 crore. The government-owned company has so far raised about Rs 4,200 crore and expects to raise the remaining amount over two tranches, through bond issues of about Rs 2,500 to Rs 3,000 crore each.
Tag: target
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Govt aims to build Rs 33,688 cr road projects in 3-yrs
Under the Special Accelerated Road Development Programme, the Union government has set a target to complete Rs 33,688 crore projects by June 2016 to improve infrastructure in the country's North Eastern region. The phase A of SARDP-NE including Arunachal Package covers 6,418 km at an estimated cost of Rs 33,688 crore. The project is targeted for completion by June, 2016, the Road Transport and Highways (RTH) Ministry said. The projects are being executed by the States Public Work Departments, Bo
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Govt aims to build Rs 33,688 cr road projects in 3-yrs
Under the Special Accelerated Road Development Programme, the Union government has set a target to complete Rs 33,688 crore projects by June 2016 to improve infrastructure in the country's North Eastern region. The phase A of SARDP-NE including Arunachal Package covers 6,418 km at an estimated cost of Rs 33,688 crore. The project is targeted for completion by June, 2016, the Road Transport and Highways (RTH) Ministry said. The projects are being executed by the States Public Work Departments, Bo
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SAIL chief moots special funding institution for steel sector
There is an urgent need to set up dedicated financing institutions for the steel sector in order to attain the target of 300 mn t steel annually by 2020-25, CS Verma, Chairman and Managing Director of SAIL said. It may be recalled that India set a target to achieve annual steel production of 300 million tonne (mn t) by 2020
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Plan panel’s move irks ministries
The move by the Planning Commission to initiate the mid-term appraisal process for the Twelfth Five-Year Plan at a time when the plan document is not even fully printed has irked central and state government departments. While the Twelfth Five-Year Plan period began in April 2012, the strategy document was finalised and approved by National Development Council only in late December 2012 and Prime Minister Manmohan Singh prepared the foreword for the Plan document only
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Import bill for crude oil set to rise
India's import bill for crude oil is expected to rise sharply despite the fall in the international price of the fuel in recent months, because of depreciation in rupee. The global price of crude oil declined almost 10 percent since January 2013. However, the import bill of the country may rise because of depreciation rupee against the dollar, reports indicate
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Govt to include panel suggestions for future JNNSM projects
Union ministry for New and Renewable Energy said it incorporated the suggestions given by an inter-ministerial committee to strengthen guidelines for selecting EPC contractors for projects under the Jawaharlal Nehru National Solar Mission (JNNSM). Following allegation of irregularities in implementing projects under JNNSM, the ministry set up the inter-minis
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Net profit of PNB declines 21%
Net profit of state-owned Punjab National Bank declined almost 21 percent to Rs 1,131 crore during January-March 2013 owing to rise in provisions. The state-run firm witnessed 44 percent rise in provisions on a year-on-year basis to Rs 1,478 crore. Total provisions were inclusive of all components like loans, investment and gratuity
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Recovery in sight for small MFIs in FY14
Venkatesh N, Managing Director of Samasta Microfinance expects smaller microfinance institutions (MFIs) to regain their financial position in 2013-14. He expects recovery in the financial position of these MFIs to be driven by the renewed interest of banks and risk capital investors in the sector
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Govt envisages Rs 5 trillion investment in power sector
Union Power Minister Jyotiraditya Scindia outlined the need to resolve all the issues faced by the power sector in order to achieve the total installed capacity target of almost 315 gigawatts by 2016-17. In order to realise this target, the government envisages an investment of about Rs five lakh crore during this
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