New Delhi: The infrastructure sector was one of the thrust areas in the Budget, as Finance Minister Pranab Mukherjee announced a slew of proposals, including allowing financial institutions to raise about Rs 60,000 crore from tax-free bonds and envisaging a greater private participation. Mukherjee said investment in the sector during the 12th Five-Year Plan (2012-17) will go up to Rs 50 lakh crore, about half of which is expected from...
05:11 PM, Mar 16, 2012
New Delhi: Railway Minister Dinesh Trivedi is all set to present the Railway Budget in Parliament on Wednesday. He said that the Railway Budget is going to be good for the common man. "The Budget is going to be very good, specially for the common man." He also said that the budget will make sure that Indian Railways shines like gold. "Railways is an important part of infrastructure. The Rail...
10:28 AM, Mar 14, 2012
New Delhi: It's almost been a decade since passenger fares were increased and railway finances are in the red. The Indian Railways is the country's 24*7 lifeline with 23 million passengers a day and 2.65 million tonnes of freight traffic. With the Railway finances going from bad to worse, a question often asked is whether the railway sector is going the aviation sector way. Union Minister Dinesh Trived says, "No,...
08:49 AM, Mar 14, 2012
New Delhi: Railway Board Chairman Vinay Mittal has said that a fare hike will bolster the railway finances to a limited extent and the urgent need was to consolidate rather than expand. When asked if the current model of railways is a financially viable model, he said, "Trains run but we don't earn revenue because they are necessary." "We fulfill a huge social responsibility. There are still areas in the...
07:58 AM, Mar 14, 2012
New Delhi: It's the D-day and all eyes will be on Union Minister Dinesh Trivedi who will present the Railway Budget 2012 in Parliament. Sources say that the government is likely to impose a safety cess, although it will not be labelled a fare hike. Sources add that there is a possibility of an additional surcharge, called the Union government development surcharge. However, the ministry is not likely to announce...
06:30 AM, Mar 14, 2012
CNN-IBN travels across the country to know what the country wants from the Finance Minister this budget. ...
08:33 AM, Mar 10, 2012
Mumbai: The airport regulator's decision on a tariff hike proposal by the operator of Delhi's international airport may impact infrastructure projects as well as the civil aviation sector, Standard & Poor's Ratings Services said in a report on Tuesday. "In our view, higher tariffs could negatively affect the credit quality and resilience of some low cost airlines operating out of Delhi. Large international full service airlines may reduce the number...
03:53 AM, Mar 07, 2012
New Delhi: The cash-strapped railways are understood to have got an approval of Rs 25,000 crore as gross budgetary support (GBS) from Finance Ministry for the fiscal 2012-13. The national transporter, facing financial crisis due to various reasons, had asked for Rs 50,000 crore as GBS to carry out several rail infrastructure projects. Last year(2011), it had got Rs 20,000 crore as the GBS for 2011-12. "The approval for Rs...
05:27 PM, Mar 02, 2012
This is the government's great Indian infrastructure dream. But the ground reality is a rude awakening. With a slowing economy, high interest rates and more importantly delayed decision making, infra projects and infra companies face an uncertain future. As Pranab Mukherjee gets ready to present Budget 2012 the message is clear - jump start the investment cycle, focus on accelerating infrastructure spending and break the policy logjam. But does the...
05:01 PM, Feb 21, 2012
India to invest $1 trillion in infrastructure sector in next 5 years, which will generate a demand of 600 million tonnes of cement. ...
12:03 AM, Feb 19, 2012
Mumbai: Mumbai's crumbling infrastructure is best exemplified by the city's potholed roads. An RTI filed by CNN-IBN reveals how Rs 60 crore were spent last year alone. This is double the budgeted expense to smoothen the roads, and it's the taxpayers' money that has gone down many potholes. Despite allegations of irregularities and kickbacks not a single contractor has been blacklisted. Minimal fines are being imposed for shoddy work and...
10:05 AM, Feb 14, 2012
Chennai: Seeking to tap more Japanese FDI in manufacturing and infrastructure sectors, Tamil Nadu Chief Minister Jayalalithaa today said her government would soon sign agreements with some major Japanese companies, which are considering substantial investments in the state. "Japanese companies have been evincing interest, mainly in the manufacturing sector... The auto sector accounts for about 60 per cent of Japanese FDI in Tamil Nadu. I am confident Chennai will emerge...
02:34 PM, Feb 12, 2012
New Delhi: As many as half a billion Indians would need new homes in the country's various cities over the next decade, a requirement equivalent to all of China, North America and Western Europe put together, a report on Sunday said. The report -- 'Urban Infrastructure in India' -- prepared by industry body Ficci said the country's population is slated to grow to 1.7 billion by 2050 and rapid urbanisation...
10:45 AM, Feb 05, 2012
Jaipur: Australia on Saturday called for boosting bilateral trade with India, saying that business ties can be strengthened in a host of areas such as infrastructure, construction and skills development. The Australian Trade Commission presented business and investment opportunities for Indian businesses at a seminar in Jaipur, 'Doing Business and Investing with Australia'. It is Australian Government s initiative to strengthen and broaden commercial engagement with India and enhance the...
03:40 AM, Feb 05, 2012
Chennai: Tamil Nadu government will introduce a bill in the ensuing budget session of the state legislative assembly for setting up of the Tamil Nadu Infrastructure Development Board and Infrastructure Development Fund for giving a fillip to core sector projects, said Governor K Rosaiah on Monday. Addressing the Tamil Nadu assembly for the first time after assuming office Rosaiah said, "A Bill will be introduced during the coming Budget Session...
01:08 AM, Jan 31, 2012
Bangalore: In a relief to former Karnataka Chief Minister BS Yeddyurappa, the Lokayukta police on Monday gave a clean chit to him in a private complaint that alleged irregularities by him in awarding an irrigation project to a private firm for pecuniary gains. The Lokayukta police in its report submitted in the Lokayukta court declared that it found no evidence against Yeddyurappa after it probed the charges by JDS leader...
06:52 PM, Jan 30, 2012
Chicago: Pitching for foreign investment in the infrastructure sector which needs $1 trillion in the 12th five-year plan, Finance Minister Pranab Mukherjee on Sunday asked the US investors to access the Indian debt market through a mechanism of regulated entities with a sustained long-term interest rate. Meeting leaders of Fortune 500 companies in Chicago, he assured them that India has evolved a transparent and stable regulatory regime in sectors such...
01:57 PM, Jan 29, 2012
New Delhi: Concerned over the state of skill development, Prime Minister Manmohan Singh on Thursday asked the ministries to prepare plans for the next year with special focus on skilling needs of minorities, SC, ST and backwards. Chairing a meeting of the National Council on Skill Development, he asked his Cabinet colleagues to focus on sectors like infrastructure, real estate, auto and auto components, textile, healthcare, retail and logistics. Singh...
09:56 PM, Jan 19, 2012
New Delhi: Delhi Government on Monday decided to extend financial assistance to Reliance Infrastructure-backed discom BSES which has defaulted on payment of around Rs 3,000 crore to various power generating and transmission firms. The decision to offer the help to the beleaguered company was taken at a Cabinet meeting presided over by Chief Minister Sheila Dikshit. Dikshit, however, did not give details about the financial assistance but officials said government...
03:44 PM, Dec 26, 2011
New Delhi: Led by decline in output of coal, the eight key infrastructure industries registered a dismal growth of 0.1 per cent in October, the lowest in last five years. The sector had recorded a growth of 7.2 per cent in October 2010. The decline in growth of eight industries crude oil, petroleum refinery products, natural gas, fertilisers, coal, electricity, cement and finished steel-- indicate slowdown in economy, which has...
02:03 AM, Dec 01, 2011
