To facilitate infrastructure needs of public sector institutions the Union government has permitted 13 such institutions to raise Rs 48,000 crore via tax free bonds in 2013-14. With this the government, for the first time, has allowed sovereign wealth funds (SWFs) in the private placement segment of these bonds.
Tag: Union government
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13 govt firms allowed to raise Rs 48,00 cr via bonds
To facilitate infrastructure needs of public sector institutions the Union government has permitted 13 such institutions to raise Rs 48,000 crore via tax free bonds in 2013-14. With this the government, for the first time, has allowed sovereign wealth funds (SWFs) in the private placement segment of these bonds.
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Govt nod to Kollegal-Kerala border highway expansion
The Union government has given its consent to the expansion work on the Kerala Border–Kollegal section of National Highway-212 in Karnataka. The highway project is for two/four laning with Paved Side Shoulders (PSS). The highway project has been approved under the National Highways Development Project (NHDP) Phase IV, on design, build, finance, operate and transfer (BOT/DBFOT) basis in build-operate-transfer (BOT) (Toll) mode of delivery. The Cabinet Committee on Economic Affairs recently gave i
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Bihar highways to be upgraded at $300 mn ADB loan
To upgrade 254 kilometres of highways, which are in a very bad condition in northern and southern Bihar, the Union government has signed an agreement with the Asian Development Bank (ADB) for $300 million additional loan. The additional financing for the ongoing Bihar State Highways-II Project will widen the sections of existing four highways to two lanes, build and maintain bridges and repair the pavements.
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Govt okays Rs 86-cr subsidy to Adhunik Cements
In a move to promote industrialisation in the North Eastern region, the Union government on August 13 approved Rs 86.09 crore subsidy to Adhunik Cements in Meghalaya. The subsidy has been cleared to the company under the Central Capital Investment Subsidy Scheme (CCISS), 2007 of the North East Industrial and Investment Promotion Policy (NEIIPP), 2007, an official release said.
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Naxal-hit West Bengal districts get Rs 822 cr for roads
The Union government has cleared Rs 822-crore for roads projects in three Maoist-affected districts of West Bengal. The sanction for 447 road projects for the districts of Paschim Mednipur, Bankura and Purulia comes soon after the Union government approved Rs 523-crore road projects for the state.
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Odisha choosen for ICZM phase-II project
The Union government has chosen Odisha among three states for Phase-II of Integrated Coastal Zone Management (ICZM) projects. A high level meeting for preparation of Phase –II project proposal was held by the Ministry of Forest & Environment on August 12 under the Chairmanship of the State Chief Secretary Jugal Kishore Mohapatra in Bhubaneswar. Integrated Costal Zone management Society of Odisha has been formed under Chairmanship of Chief Secretary for smooth functioning of World Bank aided ICZM
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Govt to seek Parliament nod for Mahila Bank
To set up a women's bank, Bharatiya Bhartiya Mahila Bank, the Union government will seek the Parliament's consent for allocation of Rs 1,000 crore, the government said. The Centre has finalised the proposal to start Bhartiya Mahila Bank with 6 branches, one each in North, South, West, Central and North Eastern part of the country. The government wants to set up the bank with an initial capital of Rs 1,000 crore.
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India to build rail lines along its borders at Rs 80,000 cr
The Union government has completed survey on 10 key proposed railway lines for which most of the funding likely to come out of the railway budget. The government is preparing a Rs 80,000 crore plan to build the railway lines along India's strategic frontiers. Working in tandem railways and the military have identified certain lines that must be given priority in construction. The strategic lines include the Srinagar-Kargil-Leh railway line. It will cover a distance of more than 400 km cutting b
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Proposed Post Bank of India may get Rs 1,300 cr
For the India Post, the Union government is likely to earmark Rs 1,300 crore to enable it to make a foray into the banking space. The Expenditure Finance Commission will meet this month and finalise the fund to be provided to India Post for the proposed Post Bank of India, a finance ministry official said. The Department of Post, which has applied to the Reserve Bank for a new bank licence, had last month approached the Finance Ministry for sanctions of Rs 1,300 crore for its banking foray and t