Page 12 - India's Infrastructure

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

Moving ahead with Gati Shakti

Allowing the private sector even a limited access to the platform will make Gati Shakti universal in its appeal and effectiveness

J&K L-G lays foundation stone of 1st direct foreign investment project

J&K Lt. Governor Manoj Sinha laid the foundation stone of a mega-mall on Sunday in Sempora area of Srinagar district which is the first direct foreign investment project in the UT.

New payment mechanism of railways: 30 days max, else govt will pay interest

The step is expected to eliminate the "biggest risk" faced by contractors, meaning that railways will ensure that payments are made within the stipulated time, said the railway minister at an event

101 projects worth Rs 60,872 cr identified under ports and shipping

Total 101 projects in respect of Ports and Shipping have so far been identified under PM Gati Shakti initiative worth Rs 60,872 crore for implementation. Out of these, 13 projects worth Rs 4,423 cr

PM Modi inaugurates 118 Km long Bengaluru-Mysuru Expressway project

Prime Minister Narendra Modi on Sunday inaugurated the Bengaluru-Mysuru expressway at a public rally in the Mandya district of Karnataka