Presenting the Union Budget on February 29, Finance Minister Arun Jaitley announced that the total outlay for road and rail development would add up to Rs.2,18,000 crore this fiscal.
Tag: Union Budget
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Delhi Metro gets Rs.1,007 cr for phase-III
The NDA Government has allotted Rs 1006.64 as equity for the Phase III project of Delhi metro in the Union Budget recently, reflecting a hike of 22 percent with over Rs 4,200 crore being allotted to it.
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Gazing into the Big Budget
The industry estimates that falling crude oil prices, lower fuel subsidies along with recent diesel tax hikes could together add almost Rs 1.1 trillion to the Union Budget. And with the government planning to spend about $8 billion of that on infrastructure and manufacturing activities, the infrastructure sector is looking at a brighter year ahead.
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FDI in infrastructure: Key Challenges
In addition to fuel shortage for thermal power projects, the power sector in general suffers from regulatory delays, chief of which are the land acquisition and environmental clearance issues.
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DMRC gets Rs 31 bn
Union Budget 2013-14 allocated Rs 3,120 crore to the Delhi Metro Rail Corporation (DMRC) for the construction of Metro Phase III. This is higher than the Rs 2,200 crore outlay that the corporation received in 2012-13.
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Budget 2013 Reaction: HM Nerurkar, MD, Tata Steel
Given the global economic scenario, the Union Budget announced by the Finance Minister has made a great attempt to achieve inclusive growth and a sustainable economy. We cheer the thrust given to the infrastructure industry through investment allowance of 15% and various steps for mobilising funds for the growth of the industry.
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Govt gives concessions to MROs
The Union Budget offered minor concessions to the MRO - maintenance, repair and overhaul industry as the government has increased the time period for consumption or installation of parts and testing equipments imported for maintenance, repair and MRO of aircrafts by units engaged in such activities form the existing three months to a year.
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Minister announces Rs 75 bn outer harbour project at Tuticorin port
In a move that would add 42 million tonne capacity to Tuticorin port, the union budget 2013-14 announced the Rs 7,500 crore project to set up an outer harbour. The Finance Minister P Chidambaram announced while presenting his eighth budget on February 29. The minister also said a new port will come at Andhra Pradesh. Three Southern states including Tamil Nadu, Andhra Prad
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Duty reduction to help local telecom firms
Telecom companies pay as much as 30 per cent of revenue in the form of various taxes and levies, compared to that in neighbouring countries where it is just over 5 per cent of revenues to cover duties.
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Govt should review taxtion issues for better road infra
Sustaining interest of private players in India’s road sector is of paramount importance. For doing so if the government needs to make some small sacrifices in the immediate future, it is indeed worth as this will reap rich dividends in the future through overall development of the economy—and tax reforms will go a long way in this direction, proposes Hemant Kanoria.