Search Result for : Infrastructure Sector

The Dollar Business Bureau Guided by mission to strengthen agriculture, employment, rural development, health, education, MSMEs and infrastructure sectors, Finance Minister Arun Jaitley presented the Union Budget 2018-19 in Parliament on Thursday. Reiterating the pledge given by the Government to the people of the country four years ago to give an honest, clean and transparent Government, Jaitley said that the Government under Prime Minister Narendra Modi has successfully implemented a series of fundamental structural reforms to propel India among the fastest growing economies of the world. Jaitley said that India’s agri-exports potential is as high as $100 billion against current exports of $30 billion and to realise this potential, export of agri-commodities will be liberalised. While presenting the Budget, he said, “Indian society, polity ...

The Dollar Business Bureau Finance and Corporate Affairs Minister Arun Jaitley said on Wednesday India and ASEAN nations represent an aspirational world in the times when the world is looking inwards. “One of our greatest challenges today is that the world has increasingly started looking inwards,” Finance Minister said while speaking at the ASEAN-India Business Meet and Expo organised by Confederation of Indian Industry (CII) in cooperation with the Finance Ministry and External Affairs Ministry. “In such protectionist times, India and the ASEAN nations represent an aspirational world which represents about 2 billion people,” he added. Jaitley pointed out that India as well as ASEAN were growing fast at a time when the world was slowing down. The two regions represent areas which were ...

The Dollar Business Bureau NITI Aayog CEO Amitabh Kant said on Thursday that the infrastructure sector in India has suffered on account of under-investment for a long time. Kant pitched for channelling pension and insurance funds to finance infrastructure projects and also to completely re-examine the scheme of Viability Gap Funding (VGF). “We need to build up environment to tap pension and insurance funds for investments in infrastructure projects. VGF scheme needs a complete re-examination,” he said at CRISIL India Infrastructure Conclave in New Delhi. Launched in 2004, VGF scheme meant to support infrastructure projects that come under the public-private-partnerships (PPPs). VGF means a one-time or deferred grant to support the projects that are economically viable but are not financially ...

The Dollar Business Bureau In order to mobilise funds into the India’s infrastructure sector, the first investment agreement signed on Monday between National Investment and Infrastructure Fund (NIIF) Master Fund and a fully-owned subsidiary of Abu Dhabi Investment Authority (ADIA). For this, ADIA will do an investment of $1 billion in the NIIF.  “As a part of the agreement, ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in the NIIF’s investment management Company,” according to a statement from Ministry of Finance. Along with ADIA and Government of India, six Domestic Institutional Investors (DIIs) including HDFC Asset Management Company Ltd, HDFC Standard Life Insurance Company Ltd, Housing Development Finance Corporation Ltd, Kotak Mahindra Old Mutual Life Insurance Limited, ...

PTI   An Australian government-owned fund manager company has expressed interest to invest in "infrastructure pieces" of Indian energy giant Adani's $21 billion controversial coal mine project in Queensland.   Chief executive of QIC Damien Frawley said the company, whose major clients include defined benefit superannuation scheme for Queensland public servants, was keen to explore infrastructure opportunities around the state.   Even though the company has not been approached for investment in the Adani's Carmichael coal mine project, QIC has said it would not be interested in the mine itself.   "But the infrastructure pieces of Adani would be interesting for us to explore. If it fitted within the return rates we are seeking," Frawley was qouted as saying by 'The Courier Mail' here.   The indicated area of investment ...

The Dollar Business Bureau India’s core industries grew at a slower pace in January as a contraction in the production of refinery products, cement and fertilizer weighed. The overall growth fell to a five-month low at 3.4% in the month, the slowest since August last year, when the sectors had witnessed a growth rate of 3.2%. In January 2016, the rate of growth in eight infrastructure sectors of coal, natural gas, crude oil, refinery products, steel, fertilisers, electricity and cement was 5.7%, while in December 2016, it was 5.6%. The production of refinery products, cement and fertiliser declined by 1.5%, 13.3% and 1.6%, respectively, in the month of January. Coal and electricity sectors expanded at 4.8% during the month under review, compared to 7.9% ...

The Dollar Business Bureau Underlining the Union Budget 2017 as “peoplisitc” and not "populist", Urban Development Minister Venkaiah Naidu on Thursday said the government has made all-out attempts to strengthen the country’s infrastructure sector, through granting infrastructure status and giving concessions to affordable housing sector, and feels that these developments will give a considerable push to the affordable housing sector.  "The Union finance minister has kept before the country a progressive and lokpriya (popular) budget. But, it is not populist, rather peoplistic -- people-oriented, not election-oriented. The Union Budget amply reflected the Centre's inclusive development plan and gives "significant" push to affordable housing,” Naidu said.   “Budget for 2017-18 has made house buyers king by incentivising developers and catalysing investment flow by announcing several ...

The Dollar Business Bureau The Finance Minister Arun Jaitley presented the Union budget 2017-2018 on Wednesday in the Lok Sabha. This was the fourth budget by the current government. “The country will boost spending in rural areas, on infrastructure and for fighting poverty”, he said in his introductory speech as he unveiled the annual budget. Experts, analysts and people from industry have welcomed the budget, which is mainly focused on the rural sector, MSMEs, infrastructure development and digitisation. “One of the thrust areas of my tax proposals is to stimulate growth, give relief to the middle class, (promote) affordable housing, curb black money, bring transparency in political funding and simplify tax administration,” Jaitley said. Commenting on the Budget, Dr Didar Singh, Secretary General, FICCI, said, “The government ...