Top Headlines: PM Gati Shakti plan, broad-based rules for PE/VCs, and more

Under a 100-trillion-rupee ($1.2 trillion) mega project called PM Gati Shakti Modi’s administration is creating a digital platform that combines 16 ministries. A high-level panel set up by the finance ministry to look into issues being faced by venture capital (VC) and private equity (PE) investors is examining the feasibility of introducing a “broad-based” rule for alternative investment funds (AIFs). Read more on these on our top headlines.

$1.2-trn 'PM Gati Shakti' plan can snatch away factories from China

In India, half of all infrastructure projects are delayed, and one in four run over their estimated budget. PM Modi believes technology is the solution to these perennial and notorious bottlenecks. Under a 100-trillion-rupee ($1.2 trillion) mega project called PM Gati Shakti -- Hindi for strength of speed -- Modi’s administration is creating a digital platform that combines 16 ministries. Read more
 

Finance ministry panel mulls 'broad-based' regulations for PE/VCs

A high-level panel set up by the finance ministry to look into issues being faced by venture capital (VC) and private equity (PE) investors is examining the feasibility of introducing a “broad-based” rule for alternative investment funds (AIFs), which include PE and VC funds. Currently, AIFs do not have any broad-based regulation, requiring a large number of investor representations. Read more
 

Reliance Jio may not charge a premium for its 5G services initially

Reliance Jio may not ask for a premium for its 5G services in the initial stages of the launch, according to sources in the company. The company will roll out 5G com­mercial services in four cities —Delhi, Mum­bai, Chennai, and Kol­kata — around Diwali this month and slowly ramp up the processes for other cities, too. Read more
 

Capex on new projects declines further in Q2 amid higher borrowing costs

Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). Read more
 

Xiaomi says 84% of Rs 5,551 cr seized by ED was royalty payment to Qualcomm

Chinese smart devices firm Xiaomi on Sunday said that over 84 per cent of the Rs 5,551.27 crore seized by the Enforcement Directorate was the royalty payment made to US chipset company Qualcomm. The ED, under the Foreign Exchange Management Act (FEMA), has approved an order of seizure of over Rs 5,551 crore worth of deposits of Chinese mobile phone manufacturer Xiaomi -- the highest amount frozen till date in India. Read more