India, Korea to sign pact for seafarers to work on Korean ships: Gadkari
The Dollar Business Bureau Union Minister of Shipping, Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation Nitin Gadkari said on Sunday that India and South Korea are set to strengthen their relations in the field of shipping and ports and will sign an agreement that will facilitate Indian seafarers to work on Korean ships. “The undertaking with the Republic of Korea for mutual recognition of Certificate of Competency (CoC) will be beneficial to both the countries as Korea is a large ship owning nation while India is a large seafaring nation with around 1,54,349 Indian seafarers,” the Minister said before leaving for Seoul. Gadkari will be on a four-day official visit to South Korea from April 9, 2018. “This agreement ...
Chahbahar Port is a gateway to golden opportunities: Gadkari
The Dollar Business Bureau The Minister for Shipping and Road Transport & Highways Nitin Gadkari, was on a two day visit to Tehran, representing the Indian Government at the inauguration and oath taking ceremony of Hassan Rouhani as the President of Iran for a second term, on 5th August, 2017. In an interaction with Rouhani, Gadkari held wide ranging discussions on many issues including India’s cooperation in the development of Chabahar Port and proposed rail link between Chabahar & Zahedan. In the meetings, both sides positively assessed the progress in implementation of the decisions taken during the Indian Prime Minister’s visit to Iran last year, including the progress of Chabahar Port. Both sides reiterated their commitment to complete and operationalize the ...
GST benefits for the transport sector
The Dollar Business Bureau The Ministry of Road Transport & Highways has issued a booklet outlining the benefits of GST for the transport sector. Pre- GST, the complex tax structure and paper work forced the transport industry to spend a lot of resources on tax compliance and deposit of interstate sales tax. Monitoring and collection of sales tax at interstate check posts led to major traffic congestion at these points, resulting in slower movement of freight and passenger, and consequently higher costs and pollution. An average Indian truck covers only about 50,000-60,000 km a year as against 3 lakh km done by a truck in US. The unified tax regime has obviated the need for interstate check posts. This will result in reducing ...
Mercedes-Benz to bring in BS VI emission models to India in 2018
The Dollar Business Bureau Mercedes Benz is planning to bring in BS VI emission compliant models into India in 2018. A press release to the media said that the company is also willing to forge partnership with oil firms for higher grade oil needed for these models. The car maker has already sought help from various ministries, including Ministry of Road Transport and Highways, which has asked them to get in touch with the oil and gas firms. "We would be ready as early as 2018. We could bring the first set of vehicles in 2018 into the country," Mercedes-Benz India Managing Director and CEO Roland Folger told PTI when asked about the company’s plans regarding launch of vehicles compliant with Bharat ...
Mercedes-Benz to bring in BS VI emission models to India in 2018
The Dollar Business Bureau Mercedes Benz is planning to bring in BS VI emission compliant models into India in 2018. A press release to the media said that the company is also willing to forge partnership with oil firms for higher grade oil needed for these models. The car maker has already sought help from various ministries, including Ministry of Road Transport and Highways, which has asked them to get in touch with the oil and gas firms. "We would be ready as early as 2018. We could bring the first set of vehicles in 2018 into the country," Mercedes-Benz India Managing Director and CEO Roland Folger told PTI when asked about the company’s plans regarding launch of vehicles compliant with Bharat ...
L&T Hydrocarbon bags orders worth Rs.4k cr
The Dollar Business Bureau L&T Hydrocarbon, fully owned subsidiary of Indian multinational Larsen & Toubro Ltd (L&T) has won orders worth Rs.4,000 crore in the foreign market. The construction arm of L&T has recently won Rs.1,725 crore worth of orders across two business divisions. “L&T Hydrocarbon Engineering Ltd, a wholly-owned subsidiary of Larsen & Toubro, has won orders totalling close to Rs.4,000 crore in the international market,” L&T said in a filing with BSE. In transportation infrastructure division, the company had won Rs.725 crore worth of contracts. “A procurement, engineering, and construction contract has been bagged from the Ministry of Road Transport & Highways for 4-laning of the section Wadpale to Bhogaon Khurd of National Highway 17 in the state of Maharashtra,” the ...
Finance Ministry clears 29 proposals involving Rs. 2.11 lakh crore of expenditure
PTI Expenditure Finance Commission (EFC) under the Ministry of Finance cleared 29 proposals of various ministries involving expenditure of about Rs 2.11 lakh crore during the last year. Besides, Public Investment Board (PIB) headed by Expenditure Secretary cleared 12 proposals involving expenditure of Rs 28,673 crore. Of these, three proposals worth Rs 8,612 crore of Ministry of Power were cleared by the board during calender year 2016. Proposals of Ministry of External Affairs and Ministry of Road, Transport and Highway involving investment of Rs 7,291 crore and Rs 6,461 crore, respectively, were also cleared, Department of Expenditure under Ministry of Finance said in its year-end review for 2016. “During the period from January 1 to November 30, 2016, the EFC chaired by Expenditure Secretary recommended 29 investment proposals or schemes of various ministries and departments costing Rs 2,11,049 crore,” it ...
Govt okays Rs.5,965 cr road projects in three states
The Dollar Business Bureau The government on Wednesday okayed three highways projects each in Maharashtra, Odisha and Punjab with a total implementation cost of Rs.5,965 crore. Prime Minister Narendra Modi on Wednesday chaired the Cabinet Committee on Economic Affairs (CCEA) meeting and approved the widening work of Angul-Sambalpur section of NH-42 (New NH-55) in Odisha, Aurangabad-Telwadi section of NH 211 in Maharashtra, and Phagwara-Rupnagar section of NH-344A in Punjab. "The Cabinet Committee on Economic Affairs (CCEA) has approved the development of four laning of Aurangabad-Telwadi Section of NH-211 in Maharashtra. The cost is estimated to be Rs 2028.91 crore including cost of land acquisition, resettlement and rehabilitation," Road Transport and Highways Ministry said in a statement. The work on this 87-km long route will ...
