Budget And Infrastructure

The eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP) which measures overall industrial growth

The responsibility to sanction the infrastructure development projects in the North Eastern Region lie with the respective state governments, while the ministry maintains oversight

India's 26 major listed real estate firms have sold properties worth nearly Rs 35,000 crore during the September quarter with Godrej Properties reporting highest sales bookings. According to the data compiled from regulatory filings, the 26 major listed realty firms have reported a combined sales bookings of Rs 34,985 crore in the second quarter of the current fiscal year. Bulk of pre-sales (sales bookings) came from residential segment. In terms of sales bookings, Godrej Properties emerged as the largest listed player during July-September quarter with pre-sales of Rs 5,198 crore. Mumbai-based Macrotech Developers Ltd, which sells properties under the Lodha brand, reported sales bookings of Rs 4,290 crore during the quarter under review. Delhi-NCR-based Max Estates sold properties worth Rs 4,100 crore, while Bengaluru-based Prestige Estates Projects Ltd clocked sales bookings of Rs 4,022.6 crore during the quarter. Delhi-NCR based Signature Global achieved sales bookings of Rs 2

While the formal meetings of Finance Minister Nirmala Sitharaman with various stakeholders seeking their wishlist for Budget 2026 is expected to begin next month, the budget-making exercise is gaining

Dealers' association expects inventory to reduce, helped by sales during weddings

However, Fadnavis claimed that with the formation of the new government, Maharashtra quickly regained its position at number 1. Citing the latest RBI report, he pointed out that Maharashtra

The estimated revenue deficit stands at Rs 34,743 crore (2.12 per cent of the GSDP), while the fiscal deficit is estimated at Rs 68,743 crore (4.19 per cent of the GSDP)

The construction of 12 out of the total 20 river bridges in Gujarat for the 508-km long Mumbai-Ahmedabad bullet train corridor has been completed, officials said on Sunday. The 120-metre-long bridge on the Kharera river in Navsari district is the 12th such structure to be recently completed in Gujarat, the National High Speed Rail Corporation Limited (NHSRCL) said. The bullet train project covers Gujarat (352 km) and Maharashtra (156 km), with a total of 12 stations planned at Mumbai, Thane, Virar, Boisar, Vapi, Bilimora, Surat, Bharuch, Vadodara, Anand/Nadiad, Ahmedabad and Sabarmati. The train is expected to sharply reduce the travel time between Ahmedabad and Mumbai to around 3 hours from the current 6 to 8 hours. "The bridge on the Kharera river, Navsari district, has been completed on October 29, 2024 for the bullet train project which marks the completion of all nine river bridges between Vapi and Surat bullet train stations (in south Gujarat) of Mumbai-Ahmedabad bullet train

Infrastructure, investment, innovation and inclusiveness are the four key focus areas for the Narendra Modi government to make India a developed nation by 2047, Union Finance Minister Nirmala Sitharaman said on Tuesday. She made the remarks during an interaction with the students of the Wharton School of the University of Pennsylvania. The minister arrived here on Tuesday afternoon to attend the annual meetings of the International Monetary Fund and the World Bank. She drove from New York to Washington DC with a stopover at the University of Pennsylvania. "In the year when we will be celebrating 100 years of Independence from British rule, that is 2047, we want to be and we aspire to be a developed country," Sitharaman told the students. To achieve that, the government has identified four key areas -- infrastructure, investment, innovation and inclusiveness, the finance minister said. "The first is infrastructure, whether it is physical such as bridges and ports or digital which i

Prime Minister Narendra Modi on Saturday laid the foundation stones of various initiatives of over Rs 32,800 crore including the Thane Integral Ring Metro Rail Project and Elevated Eastern Freeway Extension. He also laid the foundation stone of the Navi Mumbai Airport Influence Notified Area (NAINA) project at an event in Thane. In a major push to boost urban mobility in the region, the prime minister inaugurated the BKC to Aarey JVLR section of Mumbai Metro Line 3 costing around Rs 14,120 crore. This section will have 10 stations, of which 9 will be underground. Mumbai Metro Line - 3 is a key public transport project to improve commuting between Mumbai city and Suburbs. Fully operational line-3 is expected to cater to about 12 lakh passengers daily. The Thane Integral Ring Metro Rail Project will be constructed at around Rs 12,200 crore. The total length of the project is 29 km with 20 elevated and 2 underground stations. This ambitious infrastructure project is a key initiative

India has done well in areas like infrastructure in the last 10 years, but it also needs to do more in other sectors to boost local manufacturing and job creation, former RBI Governor Raghuram Rajan said on Thursday. In an interview with PTI, Rajan further said the government's focus on production, whether it is goods or services is a good thing, but it is also important to do it the right way. Responding to a question on the Modi government's flagship initiative 'Make in India', he said, "I would say the intention is good. I think in some areas, we have done a lot, as I said, in infrastructure...we have done a lot that has been very useful". The Modi government's flagship initiative 'Make in India' was launched 10 years ago on September 25, 2014. "But we need to check the other places. And the best way to check is to ask critics, what do you think? What has happened? Has it happened the way you want it? Should we do more? You get feedback, and then you work along," Rajan said. T

The slower deposit growth will push banks to mop-up up to Rs 1.3 lakh crore from bond issuances in FY25, a report said on Tuesday. The bond issuances, coming amidst a continuing wedge between deposit and credit growth, will come between Rs 1.2-1.3 lakh crore and will be the highest ever for the system, the report said. Nearly 85 per cent of the bond issuances will be by public sector banks, the report by domestic rating agency Icra said, adding that the higher appetite for infra bonds among such lenders will drive the market. "Tight liquidity conditions and credit growth continuously surpassing deposit growth has necessitated fundraising by banks from alternate sources," the agency said. Banks had raised Rs 1 lakh crore from the bond issuances avenue in FY24, while the previous all-time high was reached in FY23 at Rs 1.1 lakh crore. With the mid-fiscal year mark approaching, the report said banks have already raised Rs 76,700 crore from bonds till now, which is an over 225 per cen

The government has invited bids for the empanelment of entities for providing artificial intelligence services on cloud under the Rs 10,372-crore India AI mission, which was approved by the cabinet in March this year. The empaneled agencies, like data centers and cloud service providers, will have to provide access to high-speed computing AI infrastructure like graphics processing unit (GPUs), accelerators, Tensor Processing Units (TPUs), storage etc to academia, startups, researchers, government bodies among others at the lowest rate that will be discovered through the bidding process. Under the IndiaAI Mission, supercomputing capacity, comprising over 10,000 GPUs, will be made available to various stakeholders for creating an AI ecosystem. "With an objective to empanel service providers for making this possible, IndiaAI - an IBD under Digital India Corporation, MeitY has issued a RFE (request for empanelment)," Meity, Additional Secretary Abhishek Singh said in a social media ...

The budget announcement about a comprehensive review of the Income Tax Act, 1961, is an attempt to make the "bulky" law "simpler" to understand and comfortable to use for taxpayers along with aligning new technology processes with it, CBDT Chairman Ravi Agrawal has said. The Act that started its journey in 1922 contains 298 sections, 23 chapters and other provisions in its current form of 1961. Speaking to PTI during a post-budget interview on Wednesday, Agrawal said the Act has seen "redundancies" over a period of time making it "thick and bulky." "The taxpayers also feel that the Act is not so simple, as it ought to be...it is cumbersome...so the attempt is if we can make this Act simpler, simpler to comprehend, simpler in terms of language, simpler in terms of presentation, then that hitch of the taxpayer to actually not see the Act and take the help of a tax practitioner or someone (maybe eased)..." "We are working towards how can we make it (Income Tax Act) simple so that the

The increased funding for R&D announced in the Budget and the support extended to startups and MSMEs will foster innovation in steel manufacturing, the apex industry association said on Wednesday. Further, the allocation of Rs 11.11 lakh crore is set to enhance national infrastructure, create millions of jobs, and directly benefit the steel industry, the Indian Steel Association (ISA) said in a statement. In her Budget speech on Tuesday, Finance Minister Nirmala Sitharaman announced a slew of measures for sectors, including infrastructure, manufacturing, healthcare, education, startups, and green energy, among others. The Budget's strong emphasis on roads, railways, ports, and urban development will not only generate employment but also improve overall productivity. The increased funding for R&D and the support extended to startups and MSMEs will foster innovation in steel manufacturing, the ISA said. Jindal Steel and Power Ltd (JSPL) Chairman Naveen Jindal said, "The ...

Finance Minister Nirmala Sitharaman during her Budget 20204 speech unveiled 'Purvodaya' plan, focusing on human resource development, infrastructure, and economic opportunities in the eastern region

Union Budget 2024 analysis: The government has laid out a clear vision for 'Viksit Bharat' by addressing key areas - agricultural reforms, manufacturing push and employment generation among others

12 industrial parks to be 'sanctioned' under the National Industrial Corridor Development Programme, says Finance Minister

The Department of Drinking Water and Sanitation has received a budgetary allocation of Rs 77,390.68 crores for the fiscal year 2024-2025. This figure reflects a minimal increase of only 0.5 per cent from the revised estimate of Rs 77,032.65 crore announced in budget 2023-2024. A substantial portion of this financial year's allotment for the Drinking Water and Sanitation department is directed towards the Jal Jeevan Mission (JJM), which received Rs 69,926.65 crore, a marginal rise from the revised estimate of Rs 69,846.31 crore in 2023-2024. This flagship programme aims to provide functional household tap connections to every rural household by 2024, focusing on ensuring regular and adequate water supply. Additionally, the Dr Syama Prasad Mookerjee National Institute of Water and Sanitation (SPM-NIWAS) has been allocated Rs 95 crore, a huge rise from the Rs 3 crore it got in the last revised estimate. The Swachh Bharat Mission (Gramin), which focuses on maintaining Open Defecation

Finance Minister Nirmala Sitharaman's 2024 Budget supports Gaya's industrial development and spiritual tourism, aiming to boost the eastern region's growth