Page 12 - India's Infrastructure

National Investment & Infrastructure Fund in talks to raise $244 mn

Infrastructure investment trusts, known as InvIT for short, are like mutual funds and allow pooling of assets for financing projects and can help make up the shortfall in investment

US actively working to help India attract private capital: Yellen

The US is actively working to help India attract more private sector capital to close its infrastructure gap, Treasury Secretary Janet Yellen said and asserted that India-US innovations can help push down the cost curves of new technologies and accelerate the world's transition to a net-zero economy. Yellen's comments come ahead of Prime Minister Narendra Modi's official State Visit to the US next week. Describing India as one of the US's reliable trading partners, Yellen on Tuesday said the two countries are working to connect new communities to the global market so that they can move up the value chain. "Looking forward, I believe that we have significant potential to grow trade and investment between our nations. Both of our countries are advancing what I call 'modern supply-side' policies -- investing in human capital, physical capital, and science and technology to boost our long-term economic potential," Yellen said at the annual India Ideas Summit of the US-India Business ...

India train crash shows importance of getting infrastructure basics right

It's far better to think small than to think big. Working on the plumbing is less glitzy than building a fancy facade, but it can be far more rewarding in the long run

379 infra projects show cost overruns of Rs 4.64 trillion in April

As many as 379 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.64 lakh crore in April 2023, 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 1,605 projects, 379 reported cost overruns and as many as 800 projects were delayed. "Total original cost of implementation of the 1,605 projects was Rs 22,85,674.25 crore and their anticipated completion cost is likely to be Rs 27,50,591.38 crore, which reflects overall cost overruns of Rs 4,64,917.13 crore (20.34 per cent of original cost)," the ministry's latest report for April 2023 said. According to the report, the expenditure incurred on these projects till April 2023 was Rs 14,13,592.88 crore, which was 51.39 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreases to 598 if dela

FM reviews infra projects under NICDIT, urges states to tie up loose ends

Finance Minister Nirmala Sitharaman on Tuesday reviewed the progress of projects under the National Industrial Corridor Development and Implementation Trust (NICDIT) and urged states to tie up loose ends and resolve all pending issues through greater exchange. NICDIT seeks to create greenfield smart industrial cities with sustainable 'plug n play' and information and communications technology ICT-enabled utilities. It is within the overall framework of PM GatiShakti National Master Plan NMP. It aims to create quality infrastructure and keep land parcels ready for allotment to attract investments in the manufacturing sector and position India strongly in Global Value Chains (GVCs). Addressing the second meeting of the apex monitoring authority of the NICDIT organised in hybrid mode here, Sitharaman urged all the states to tie up loose ends and move forward and resolve all pending issues through greater exchange and sharing of information to expedite the progress of works in the ...

To maximise efficiency, RapidX will move cargo during non-peak hours

To this end, the depots of the RapidX transport system will have warehouses, and different trains will be deployed to transport cargo

From inclusive banking to inclusive insurance

As insurance penetration deepens, India will have a decent pool of long-term funds to support infrastructure building and the government's borrowing programme, easing the burden on the banking system

Covid highlighted need for more robust health architecture: Mandaviya

The Covid pandemic has exposed the fault lines in the global health architecture and highlighted the need to make it more robust, inclusive, and responsive while maintaining the centrality of WHO, Union Health Minister Mansukh Mandaviya said on Saturday. Virtually addressing the G7 Health Ministerial meeting on Global Health Architecture in Japan's Nagasaki, he said, "When it comes to managing a health emergency, a country's health system is heavily dependent on the global health system." The Union health minister cautioned against fragmented and siloed efforts in addressing the challenges faced by the world and underlined the need for collaborative efforts to ensure global health security, including a focus on promoting health equity. While multiple global efforts are underway, there is a need to ensure the convergence of these ongoing initiatives, he noted. "The COVID-19 pandemic has brought to the forefront the fault lines in existing global health architecture and emphasised th

Trai recommends IB ministry to grant infra status to telcos, broadcasters

To ensure compliance, Trai suggested that the ministry may consider mandating a standard undertaking which would be required to be submitted by each service provider on an annual basis

Real estate demand firm, retail leasing up by 130% YoY: CBRE Report

High-ticket projects that cost Rs 1.5 crore or more would continue to see high-demand. The impact of rising home loan interest rates is likely to be limited

Under construction

Project delays must be avoided

Eight core sector industries post 3.6% growth in March; slowest in 5-month

The output of crude oil declined by 2.8 per cent, power by 1.8 per cent and cement by 0.8 per cent in March this year

Time and money: The impact of govt projects missing their deadline

Average delays of more than three years mean large cost overruns for the country

354 infra projects show cost overruns of Rs 4.55 trn, 821 projects delayed

As many as 354 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.55 lakh crore, as per an official report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,449 projects, 354 reported cost overruns and as many as 821 projects were delayed. "Total original cost of implementation of the 1,449 projects was Rs 20,69,658.30 crore and their anticipated completion cost is likely to be Rs 25,25,348.87 crore, which reflects overall cost overruns of Rs 4,55,690.57 crore (22.02 per cent of original cost)," the ministry's latest report for March, 2023 said. According to the report, the expenditure incurred on these projects till March 2023, is Rs 13,90,736.58 crore, which is 55.07 per cent of the anticipated cost of the projects. However, the number of delayed projects decreased to 616, if delay is calculated on the basi

10 smart cities in UP get Rs 10,000 cr for completing infra projects

Projects worth over Rs 10,000 crore will become operational within the 10 smart cities of Uttar Pradesh in a few months

DMRC 'lowest bidder' to operate, maintain Mumbai Metro's Line 3: Officials

The Delhi Metro Rail Corporation has emerged as the "lowest bidder" to operate and maintain the 33.5-km Line 3 of the Mumbai Metro, officials said on Thursday. Mumbai Metro's proposed Line 3 will run from Aarey to Cuffe Parade, covering 27 stations. The process will pave the way for the Delhi Metro Rail Corporation (DMRC) to foray into a region much beyond the National Capital Region (NCR), if it gets the job. "The Mumbai Metro Line 3 is currently under construction under the MMRDA (Mumbai Metropolitan Region Development Authority) and is expected to be operationalised in parts from the end of this year onwards," the DMRC said in a statement. Delhi Metro has emerged as the "lowest bidder to operate and maintain the 33.5-km Line 3 of the Mumbai Metro, from Aarey to Cuffe Parade covering a total of 27 stations, from the south of the western metropolis to the north", it said. DMRC outbid Keolis, a reputable public transport operator from France with experience functioning in various

India's infrastructure sector growing at significant pace: Scindia

Union Minister Jyotiraditya M Scindia on Tuesday said the country's infrastructure sector is growing at a significant pace in areas such as roads, highways and civil aviation. Scindia, who is in charge of the ministries of civil aviation and steel, was speaking at the 8th National Leadership Conclave organised by the All India Management Association (AIMA) in the national capital. The government's thrust is on development of infrastructure and related sectors in the country. The PM Gati Shakti master plan is going to change the face of India's infrastructure, he said. "The infrastructure sector has had tremendous potential in driving the economic destiny of any country. If you look at the developed nations, their success has been driven by impetus on infrastructure. Therefore, there is the much needed impetus on infrastructure," he said. According to him, the country has made significant progress in the areas of roads, highways, railways and civil aviation, among other areas. When

Centre nudges state govts to speed up PM GatiShakti scheme adoption

The GatiShakti NMP was announced by Prime Minister Narendra Modi one-and-a-half years ago

PM Modi to inaugurate slew of developmental projects in TN on April 8

Prime Minister Narendra Modi will inaugurate several infrastructure projects, including the state-of-the-art integrated terminal building at the Chennai airport, upon his arrival in the state on Saturday. Security has been beefed up across the city in view of the visit while motorists have been asked to plan ahead of their journey to reach their destination as elaborate traffic diversions have been made, police said. Following his arrival, Modi will open the new terminal, the first phase of which has been completed. It is expected to enhance the passenger traffic to 35 million per year. "This will be an important addition to Chennai's infrastructure. It will boost connectivity and also benefit the local economy," Modi had said in a tweet. According to Chennai airport officials, the new integrated terminal is spread across 2.20 lakh sq metres and would cater to the growing air traffic in Tamil Nadu. The terminal is also a reflection of the government's commitment towards providing

Road developers' debt to spike, revenue growth to remain high: Report

Sizeable equity commitments in under-construction projects and rising working capital needs will increase the debt burden of road developers but revenue growth is set to remain high, driven by strong contract awards and execution in the next fiscal, according to a report. Besides, a high budgetary allocation to the sector will also help road developers, it added. With the prevailing low leverage levels, developers have the headroom to borrow more to fund new projects, which will keep their credit risk profiles stable, said a Crisil report, which also notes that asset monetisation will be crucial to rein in debt. The report is based on the analysis of 18 engineering, procurement and construction (EPC) players, constituting 70 per cent of the sectoral revenue. According to Mohit Makhija, a senior director at the agency, total equity commitment towards the under-construction public-private partnership (PPP) projects is estimated at over Rs 21,000 crore by fiscal 2025. The working cap