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Infra Growth

Digital infra investment, policies help exports touch historic high in Oct

Continuous investment in digital infrastructure, including data centres and high-speed internet, along with policy support, has propelled India's services exports to a "historic" milestone of USD 34.31 billion in October, a commerce ministry official said. The official said India has established itself as a global leader in digitally delivered services exports, leveraging its robust IT sector and skilled workforce. Services traded through computer networks, such as the internet, apps, emails, and digital intermediation platforms, have grown exponentially. "India's services sector reached a historic milestone in October 2024, recording an all-time high in monthly exports of USD 34.31 billion, a 22.3 per cent increase compared to October 2023," the official added. The key enabling factors that are helping the sector's growth included continuous investment in digital infrastructure, such as data centres and high-speed internet connectivity; initiatives like Digital India that have ...

Digital infra investment, policies help exports touch historic high in Oct
Updated On : 29 Dec 2024 | 2:04 PM IST

Slowing capex: Focus more on growth dynamics than changing target norms

Patterns of capital expenditure have a bearing on economic growth. With their huge spending power, states have as big a role in economic development as the Union government

Slowing capex: Focus more on growth dynamics than changing target norms
Updated On : 12 Nov 2024 | 11:13 PM IST

Employment, women's safety are UP's growth mantra: Awasthi at BS Samriddhi

Awasthi was speaking at a panel discussion titled 'Environment protection with infrastructure and tourism development' in UP

Employment, women's safety are UP's growth mantra: Awasthi at BS Samriddhi
Updated On : 23 Oct 2024 | 11:58 PM IST

NaBFID plans Rs 53,000 crore debt raise in FY25, says MD Rajkiran Rai

NaBFID has already sanctioned Rs 20,000 cr of its target of Rs1 trillion for the 12 months through March 2025

NaBFID plans Rs 53,000 crore debt raise in FY25, says MD Rajkiran Rai
Updated On : 12 Sep 2024 | 5:08 PM IST

Indonesia's Prez highlights economic, infra development in final address

Indonesia's outgoing President Joko Widodo highlighted advances in the economy and infrastructure during his final State of the Nation address Friday. Widodo said that in the 10 years he's led the country, his administration controlled inflation, reduced rates of unemployment and extreme poverty, and built new infrastructure in parts of Indonesia that were difficult to reach and with limited resources. Furthermore, our resilience as a nation has been proven by our endurance in tackling the COVID-19 pandemic, in facing climate change, and in facing the escalating global geopolitics, Widodo said. The Southeast Asian nation plays a crucial role in the economic and political dynamics of a region where global powers have been increasingly at odds over Taiwan, human rights issues, U.S. military presence, and Beijing's assertive actions in contested areas like the South China Sea. As a tropical archipelago on the equator, Indonesia has the world's third-largest rainforest, home to diverse

Indonesia's Prez highlights economic, infra development in final address
Updated On : 16 Aug 2024 | 1:09 PM IST

Govt mopped up Rs 98,681 cr from taxing LTCG in listed equities in FY23

The government has garnered Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23, a 15 per cent growth over the previous year, Parliament was informed on Tuesday. Minister of State for Finance Pankaj Chaudhary gave details of collections from Long Term Capital Gains (LTCG) tax between fiscal 2018-19 and 2022-23 in the Rajya Sabha. The long term capital gains on equities and units of equity oriented mutual funds were brought in from April 2018. Such gains were taxed at 10 per cent, with gains of up to Rs 1 lakh annually being exempted. As per the details shared with the Parliament, Rs 98,681.34 crore was collected from LTCG in 2022-23, up 15 per cent over Rs 86,075.49 crore collected in 2021-22 fiscal. The collection was about Rs 38,589 crore in 2020-21, Rs 26,008 crore in 2019-20 and Rs 29,220 crore in 2018-19. To a question on whether the government is contemplating to abolish the LTCG tax on equities/mutual funds during 2024-25, Chaudhary said, "There i

Govt mopped up Rs 98,681 cr from taxing LTCG in listed equities in FY23
Updated On : 30 Jul 2024 | 11:05 PM IST

Post runup, expect more modest returns from infrastructure funds

Altogether 22 infrastructure schemes manage assets worth Rs 41,912 crore.

Post runup, expect more modest returns from infrastructure funds
Updated On : 27 Jun 2024 | 11:28 PM IST

Is Nabfid the answer to India's infra woes?

Though earlier such attempts had failed, NaBFID should succeed as the ecosystem is changing. Infra projects are a new asset class that offers healthy returns

Is Nabfid the answer to India's infra woes?
Updated On : 16 Jun 2024 | 9:54 PM IST

448 infra projects hit by cost overrun of over Rs 5.55 trn in April

As many as 448 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by a cost overrun of more than Rs 5.55 lakh crore in April 2024, according to an official report. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,838 projects, 448 reported cost overruns and 792 projects were delayed. The total original cost of implementation of the 1,838 projects was Rs 27,64,246.50 crore, and their anticipated completion cost is likely to be Rs 33,19,601.84 crore, which reflects an overall cost overrun of over Rs 5,55,355.34 (20.09 per cent of original cost), the ministry's latest report for April 2024 showed. According to the report, the expenditure incurred on these projects till April 2024 is Rs 1,692,997.5 crore crore, which is 51 per cent of the anticipated cost of the projects. However, the number of delayed projects decreased to 514 if the delay is

448 infra projects hit by cost overrun of over Rs 5.55 trn in April
Updated On : 09 Jun 2024 | 11:26 AM IST

Evaluation of infra needs for $1 tn exports by Aug-Sep: Official

A study to assess required infrastructure and identify main industry clusters for achieving the USD 1 trillion merchandise exports target by 2030 may be submitted by August-September to the commerce ministry, an official said. The official said that the Asian Development Bank (ADB) is doing that study for the ministry. In 2023-24, India's merchandise exports dipped by over 3 per cent to USD 437 billion. Imports during the last fiscal dipped by 5.7 per cent to USD 675.4 billion. By 2030, the ministry is aiming to more than double the country's outbound shipments of goods. Explaining the rationale behind the exercise, the official said that to take the exports to USD 1 trillion, there will be an import of about USD 1.5 trillion, so to handle USD 2.5 trillion worth of trade "we need" additional infrastructure and logistics capacity at roads, ports, airports and railways. "If exports will increase, imports will also increase. There is a correlation between higher exports and imports.

Evaluation of infra needs for $1 tn exports by Aug-Sep: Official
Updated On : 12 May 2024 | 2:10 PM IST

World Bank, IT ministry to come up with state-level DPI adoption index

'The state-level DPI index will help analyse gaps to strengthen the digital economy, support financial inclusion and increase public-private innovation'

World Bank, IT ministry to come up with state-level DPI adoption index
Updated On : 25 Apr 2024 | 11:35 PM IST

PM Modi launches Rs 7,550 crore development projects in Jhabua, MP

Prime Minister Narendra Modi on Sunday visited Jhabua in Madhya Pradesh and inaugurated and laid the foundation stones of Rs 7,550 crore development projects for the state. He also disbursed monthly installments to nearly two lakh women beneficiaries under the 'Aahar Anudan Yojana' of the state. Under the scheme, Rs 1,500 per month are provided for nutritious food to women from especially the backward tribes. PM Modi also distributed 1.75 lakh 'adhikar abhilekh' (record of land rights) under the SVAMITVA scheme, which will provide documentary evidence to people for the right to their land. He also laid the foundation stone of the Tantya Mama Bhil University which will cater to the youth from tribal-dominated districts of the state. To be developed at a cost of Rs 170 crore, the university will provide world-class infrastructure for holistic development of students.

PM Modi launches Rs 7,550 crore development projects in Jhabua, MP
Updated On : 11 Feb 2024 | 2:04 PM IST

Mukesh Ambani to Gautam Adani: Big guns firing on the capex front

In the Interim Budget speech on Thursday, Union Finance Minister Nirmala Sitharaman said "private investments are happening at scale"

Mukesh Ambani to Gautam Adani: Big guns firing on the capex front
Updated On : 05 Feb 2024 | 11:35 PM IST

Around 417 infra projects show cost overruns of Rs 4.77 trn in Sep: Report

As many as 417 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in September this year, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,763 projects, 417 reported cost overruns and as many as 842 projects were delayed. "Total original cost of implementation of the 1,763 projects was Rs 24,86,402.70 crore and their anticipated completion cost is likely to be Rs 29,64,345.13 crore, which reflects overall cost overruns of Rs 4,77,942.43 crore (19.22 per cent of original cost)," the ministry's latest report for September 2023 said. According to the report, the expenditure incurred on these projects till September 2023 is Rs 15,44,600.67 crore, which is 52.11 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased

Around 417 infra projects show cost overruns of Rs 4.77 trn in Sep: Report
Updated On : 13 Nov 2023 | 5:15 PM IST

Sterlite Power Transmission to demerge its transmission infra business

Power transmission infrastructure developer and solutions provider Sterlite Power Transmission on Friday said it has decided to demerge electricity transmission infrastructure business spread across India and Brazil. The demerged Sterlite Power Transmission Ltd (SPTL) entity will continue to hold the global products and specialised EPC (engineering, procurement and construction) services business as well as the convergence - fiberco business, a company statement said. SPTL announced the strategic decision to demerge its power transmission infrastructure business (build, operate and transfer model) spread across India and Brazil. This move comes as part of the company's intent to create 'pure play' business verticals based on end-customer base, investor class and returns. Pratik Agrawal, Managing Director, SPTL, said in the statement, "The demerger will enable both entities to create independent capital structures, unlock value and attract investors suitable for the distinct growth

Sterlite Power Transmission to demerge its transmission infra business
Updated On : 03 Nov 2023 | 5:10 PM IST

India emerges as AIIB's top market for funding infrastructure projects

Given the sheer size of infrastructure development taking place across the country, India has emerged as the biggest project funding market for the Asian Infrastructure Investment Bank (AIIB), a top bank official said on Wednesday. Stating that financing of a lot more new infrastructure projects is under discussion for next year, AIIB South Asia Director General Rajat Misra said, Lending to India will continue to grow as the bank balance sheet will also grow. Misra was speaking to PTI on the sidelines of Singapore International Energy Week here. Formed in December 2015, the AIIB has to date funded sovereign Indian infrastructure projects to the tune of USD 10 billion. This works out to more than 20 per cent of AIIB's total infrastructure project funding. For this year, the bank has lent more than USD 1.3billion to Indian projects, including USD 438 million for the Chennai Metro Rail Phase 2 Project (Balance Corridor 5) and USD 250 million for the Second Dam Rehabilitation and ...

India emerges as AIIB's top market for funding infrastructure projects
Updated On : 25 Oct 2023 | 3:53 PM IST

PM Gati Shakti: 4 infra projects worth Rs 19,520 cr put up for approval

Four infrastructure projects of roads and railways worth Rs 19,520.77 crore have been recommended for approval under the PM Gati Shakti initiative, an official statement said on Wednesday. This takes the total number of projects assessed by Network Planning Group (NPG) to 115 with a total value of about Rs 11.70 lakh crore, since the launch of PM Gati Shakti, it said. These four projects were assessed in the 57th NPG meeting on October 17. "NPG assessed four projects including three projects of the Ministry of Road Transport and Highways and one project of the Ministry of Railways, with the total project cost of Rs 19,520.77 crore," the commerce and industry ministry said. The inter-ministerial NPG meets every fortnight and appraises infra projects to ensure multi-modality, synchronisation of efforts, and comprehensive development in and around the project location. The initiative was launched to develop an integrated infrastructure to reduce logistics costs. All logistics and ...

PM Gati Shakti: 4 infra projects worth Rs 19,520 cr put up for approval
Updated On : 18 Oct 2023 | 10:54 PM IST

Cement sales to grow 10% in FY24 led by infra, urban housing demand: Report

The cement sales volume is expected to have a healthy 9 to 10 per cent growth in the current fiscal, led by demand from infrastructure and urban housing sectors, according to a report. In the first half of this fiscal, the industry had a volume growth of around 12 per cent in the April-September period, said a report from rating agency Icra. However, there would be "some moderation in growth in H2" on account of below-normal monsoons on the overall crop output, adversely impacting farm incomes and demand for rural housing in some markets, it added. "Moreover, with the upcoming state elections the release of funds towards ongoing infra projects may slow down, posing some downside risks to cement volume off-take in H2 FY2024," it said. However, the operating margins for the cement industry is expected "to improve by 260-310 bps to 16.0-16.5 per cent in FY2024". The increasing focus on green power is likely to lower the cement industry's dependence on high-cost thermal power and grid

Cement sales to grow 10% in FY24 led by infra, urban housing demand: Report
Updated On : 18 Oct 2023 | 3:58 PM IST

SBI raises Rs 10,000 cr via infrastructure bonds at 7.49%

Bond market dealers indicated that the softening of yields in the markets helped SBI set the coupon at a lower rate

SBI raises Rs 10,000 cr via infrastructure bonds at 7.49%
Updated On : 22 Sep 2023 | 4:11 PM IST

India's key infrastructure sectors' growth slows down to 4.3% in May

The growth of eight key infrastructure sectors slowed down to 4.3 per cent in May 2023 due to a decline in the production of crude oil, natural gas, and electricity. The core sector growth was 19.3 per cent in May 2022 while in April 2023 the key infra sectors recorded a growth rate of 4.3 per cent. During April-May this fiscal, the output growth of these eight sectors slowed down to 4.3 per cent as against 14.3 per cent in the year-ago period.

India's key infrastructure sectors' growth slows down to 4.3% in May
Updated On : 30 Jun 2023 | 5:21 PM IST