The Union government has decided to allow its MPs to spend their local area development (MPLAD) fund for works related to constructing roads, pavements and cycle tracks and this move has been appreciated by the Geneva-based International Road Federation (IRF). IRF is a global road safety organisation.
Tag: Union government
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Govt allows MPs to spend fund on roads, pavements
The Union government has decided to allow its MPs to spend their local area development (MPLAD) fund for works related to constructing roads, pavements and cycle tracks and this move has been appreciated by the Geneva-based International Road Federation (IRF). IRF is a global road safety organisation.
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Govt okays 13 FDI proposals
Thirteen foreign direct investment (FDI) proposals, worth Rs 1,258.53 crore, were cleared recently by the Union government. The FDI proposals include request to invest Rs 755 crore by Shantha Biotech acquired by French company Sanofi Aventis.
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Rs 3,000 cr road works cleared in Maha, Punjab
The Union government on October 30 cleared Rs 3,000 crore worth highway widening works in Maharashtra and Punjab. The Cabinet Committee on Economic Affairs (CCEA) approved four laning of the Aurangabad-Yedeshi highway in Maharashtra at an investment of Rs 2,406.63 crore. In Punjab, the Sangrur-Haryana border road will be widened at Rs 612.28 crore investment.
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Banks go slow in lending loans to highway projects
Banks are slow and cautious while lending to road developers whereas the Union government is very keen on expediting road projects on a priority basis to revive growth. In the first half of the current financial year, banks have lent a total of Rs 550 crore to only five road projects.
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CNG’s uniform price in 2 months
The Union government is to come out with a uniform Compressed Natural Gas (CNG) pricing across the country. The Union Ministry of Petroleum and Natural Gas is set to come up with a proposal in this regard, said a senior official concerned.
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Cochin Shipyard pays dividend for the 5th year
A dividend of Rs 16.99 crore has been paid by the Cochin Shipyard (CSL) to the Union government on October 23. This is the company's fifth consecutive year paying the dividend. The dividend consists of Rs 1.5 per Equity Share on the 11,32,80,000 fully paid equity shares of Rs 10 each.
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L&T to list 6 road projects on S’pore stock exchange
The Union government has permitted the construction major Larsen and Toubro to form a business trust in Singapore and list of its six toll road projects on the Singapore stock exchange that could raise up to $1 billion. The National Highways Authority of India board has approved the L&TĆās plans to set up the trust.
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Govt holds roadshow in abroad to sell stake in CIL
The Union government's disinvestment department has been on a roadshow in five nations including Germany and the UK to attract foreign investors for its Rs 9,000-crore Coal India's five per cent stake sale. The roadshows are being held in New York, Boston and San Fransisco in the US, followed by Toronto in Canada and London in the UK, sources in the government said.
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Govt to infuse Rs 14,000 cr capital into banks
To augment capital base of its public sector undertaking banks, the Union Finance Ministry on October 22 finalised a Rs 14,000-crore infusion plan, the Union government announced on October 22. The Union Finance Minister P Chidambaram said this after meeting the heads of PSU banks in Delhi.