Search Result for : West Bengal

The Dollar Business Bureau With the aim to continue fiscal reforms in West Bengal, the Central Government on Tuesday signed a $300 million loan agreement with the Asian Development Bank (ADB) for improving the quality of public service delivery in the state.  “The Second West Bengal Development Finance Program aims to further enhance the public investment by cutting down unproductive expenditure, and through savings from efficiencies in the collection of revenue,” said an official statement. This Program will build on previous intervention under the first phase of the project through $400 million Program that is aimed at targeting a comprehensive fiscal consolidation program in West Bengal.  Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance signed the loan on behalf of ...

The Dollar Business Bureau The Minister of Petroleum and Natural gas Dharmendra Pradhan said that his Ministry has taken up with the Government of Bangladesh for laying a pipeline carrying natural gas from Chittagong to Tripura to address the cooking gas shortage of the North East. In his response to the media in which he revealed the intentions of the Indian government, he said, “We are laying a pipeline for transportation of diesel from Siliguri in West Bengal to Parvatipur in Bangladesh. There is pipeline for carrying diesel from Numaligarh oil refinery in Assam to Siliguri. In exchange, we have given the proposal for a gas pipeline from Chittagong to Tripura. We are pursuing the matter diplomatically and I would also visit ...

The Dollar Business Bureau Nirmala Sitharaman met Takehiko Nakao, President, Asian Development Bank (ADB) and appreciated the Bank's efforts for infrastructure development in India. She said that the Government would help the States to have the infrastructure projects funding. The minister discussed the progress in the Vizag-Chennai Industrial Corridor (VCIC). She further mentioned that the Northern Extension of the ECEC from Vizag to Odisha and West Bengal is important and ADB should accelerate the work thereon. The Minister also mentioned that the Southern extension from Chennai to Kanyakumari should include extension up to The Minister also mentioned that the Southern extension from Chennai to Kanyakumari should include extension up to Kollachal Port and even at Vizhinjam, as this would accrue several economic benefits to these ...

The Dollar Business Bureau Inida's first waterways project received a financial backing of $375 million from international lender World Bank. The project is meant to create inland waterway for transportation between Haldia and Varanasi, on the 1,360-km stretch of the Ganges river. The loan sanctioned by World Bank covers 45% cost of the project, being undertaken under the Jal Marg Vikas scheme by the Shipping Ministry. The proposed project will facilitate navigation of commercial vessels with a capacity of 1,500-2,000 deadweight tonnage (DWT). Serving the industries on the banks of river Ganga, the new waterway will pass through four states namely Bihar, West Bengal, Jharkhand, and Uttar Pradesh. The industrial cities of Ghazipur, Bhagalpur, Kolkata, Howrah, Patna, Haldia, Allahabad and Varanasi will immensely benefit from this initiative. The development of National Waterway 1 (NW1) will also provide a good ...

The Dollar Business Bureau India’s potato output is projected to be around 47 million tonnes in the current year, just a level below of all-time high recorded in 2014. The potato production was 43.4 million tonnes in the crop year 2015-16 (July-June), whereas the previous record was 48 million tonnes witnessed in 2014-15. “Looking at the crop condition and arrival in mandis, I feel the overall output will be close to record levels. Potato output would be around 47 million tonnes this year,” A K Singh, Managing Director, National Horticulture Board (NHB) told PTI. At first, NHB had estimated the production at 43.88 million tonnes this year. However, this will be reviewed after evaluating the arrival, Singh said. He further said that overall area under ...

The Dollar Business Bureau The Government imposed definitive anti-dumping duty on imports of jute and jute products from Nepal and Bangladesh on Jan 5. In its notification no.01/2017-Customs (ADD) dtd Jan 5, 2017, the government details that anti-dumping duty ranging from $6.30 to $351.72 has been imposed on these products originating from Nepal and Bangladesh to protect the interests of the domestic manufacturers. The anti-dumping duty shall be effective for five years beginning from the date of publication of this notification and the duty shall be paid in Indian currency. The import restrictive levy has been imposed on jute yarn/twine, Hessian fabric and jute sacking bags in "all forms and specifications". The DGAD, based on the complaints received from the local players had initiated an investigation last ...

The Dollar Business Bureau The Bengal Govt signed an MoU with Burn Standard Co., to introduce a monorail in the city of Kolkata. The monorail will function between BudgeBudge, Taratala and Alipore to reach Ruby Hospital on the Eastern Metropolitan Bypass thereby connecting the city with its outskirts. Mamata Banerjee said her Govt is going to provide land for the monorail and estimated that the project could cost Rs 4216 crore. She was speaking to the media after a meeting of the state industry promotion and development board.

PTI The West Bengal government has decided to create multiple small solar parks."We are planning for solar park totalling 500 MW, but doing it at a single site is not possible as we are unable to get large contiguous land," State Power Minister Shobhondeb Chatterjee said on the sidelines of an interactive session with the Calcutta Chamber of Commerce.About five acres of land was required for 1 MW of Solar power, the minister said."We will create multiple solar parks and capacity will depend on size of land, which is a more viable option," Chatterjee pointed out.He said the state government would continue to focus on renewable energy and would attend the Union Power Ministry-convened conference on renewables."I have received a letter ...