Page 4 - India's Infrastructure

Group taxation regime for infrastructure

Tax consolidation for special purpose vehicles is desirable

At 7.2 million, Delhi Metro records highest-ever daily ridership on Aug 13

The Delhi Metro on August 13 registered the highest-ever count of daily passenger journeys at 72.38 lakh, officials said. The urban transporter shared the data in a post on X on Wednesday, saying it has surpassed its previous milestone accomplished in February this year. A total of 72,38,271 passengers travelled on August 13. The count of daily passenger journeys in the Delhi Metro had stood at 71.09 lakh on February 13, 71.07 lakh on August 12, 71.04 lakh on September 4, 2023, and 70.88 lakh on February 12, the data showed. Journey or line utilisation is calculated by the number of corridors passengers use to reach their destinations. The Delhi Metro Rail Corporation's current network span is nearly 393 km with 2888 stations (including the Noida-Greater Noida Metro Corridor and Rapid Metro, Gurugram). "The Delhi Metro Rail Corporation (DMRC) has recorded its highest-ever passenger journeys on Tuesday (August 13) with 72.38 lakh passenger journeys being performed across the networ

After 'derailment min' jibe, Vaishnaw says focus is on railways, not reels

Ashwini Vaishnaw's strong response came after Congress MP Gaurav Gogoi criticised him for not taking moral responsibility for train accidents and called him the 'derailment minister'

Despite new coal plants, India will face more power cuts by 2027: Research

India's power crisis: To avert a looming power shortage, India must accelerate efforts to boost renewable energy capacity, warns new research

Reduction of corporate tax in Budget will promote India-US trade: Ex-CEA

Professor Krishnamurthy Subramanian said that the removal of Angel Tax would be significant for India's startup ecosystem and encourage investments from outside

PM Modi launches Shinkun La Tunnel construction; how will it help troops

Despite harsh weather conditions and challenging topography, building infrastructure along the China border has remained a top priority for the central government

Texmaco Rail and Engineering buys Jindal Rail Infra for Rs 615 crore

Mega deal makes Texmaco biggest rolling stock maker in India

Hyundai ties up with Charge Zone for charging infrastructure for EV

Hyundai Motor India on Wednesday said it has tied up with Charge Zone to set up charging infrastructure for electric vehicles. As per a Memorandum of Understanding (MoU), Charge Zone will install DC 60 kW fast chargers across 100 Hyundai dealerships in India. The strategic partnership aims to aid the expansion of public EV charging infrastructure in the country, Hyundai Motor India said in a statement. These public EV charging stations will also provide convenience to all EV users for intercity and intracity travel considering the locations of dealerships across cities and highways, it added. "As India aims for greater adoption of electric mobility, it is equally important to bolster the EV charging infrastructure to counter range anxiety and build customer preference towards adoption of electric mobility," Hyundai Motor India Function Head - Corporate Planning Jae Wan Ryu said. Strategic alliances are crucial for accelerating the adoption of electric mobility solutions by custome

Road, railway infra needed in Mizoram for growth of tourism, agri: Minister

Union minister Bhagirath Choudhary said that good road and railway infrastructure are needed in Mizoram to usher in development in the tourism and agriculture sectors. The Union Minister of State for Agriculture and Farmers Welfare, during his visit to Mizoram, said that the northeastern state has a great potential for organic farming and is rich in natural resources. "Even though there are good avenues for selling agro products of Mizoram in markets in other parts of the country, it will be difficult to take concrete steps if there is no proper road infrastructure and communication in the state," he told reporters here on Friday. Stating that farmers in Mizoram will face problems due to lack of proper road infrastructure and railway lines, Choudhary said the Centre and the state must work concertedly to address the problem. "Inter-state as well as intra-state road and railway network should be improved in Mizoram to develop tourism and ensure that the farmers are economically ...

Gujarat CM approves Rs 1740 cr for road infra in industrial & quarry areas

Constructing these roads will ease traffic in the cities, towns, and villages connected by them, providing well-suited roads for vehicular movement

Costs & time overruns in infrastructure

Working within the same legal, social, political, and governance system, delays and cost overruns are only going to increase manifold

Macrotech Developers Q1 sales up 20% at Rs 4K cr on strong housing demand

Macrotech Developers has posted a 20 per cent growth in sale bookings to Rs 4,030 crore for the first quarter of this fiscal year as housing demand continues to be strong. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,350 crore in the year-ago period. As per its latest operational update posted on stock exchanges, the collection from customers rose 12 per cent to Rs 2,690 crore in April-June FY25 from Rs 2,400 crore in the corresponding period of the previous year. The company registered 20 per cent growth in its sale bookings (pre-sales) to a record Rs 14,520 crore during 2023-24 as against Rs 12,060 crore in the previous year. It has given a guidance of achieving 21 per cent annual growth in sale bookings this fiscal to Rs 17,500 crore. Macrotech Developers, which has a significant presence in Mumbai Metropolitan Region (MMR) and Pune and has just entered Bengaluru, will launch 17 housing projects this fiscal year, having a

PM Modi to inaugurate projects worth Rs 29,000 cr in Mumbai today

Prime Minister Narendra Modi will launch, dedicate to the nation and lay foundation stones of projects costing over Rs 29,400 crore at a function at NESCO Exhibition Centre in Goregaon during his visit to Mumbai on Saturday, officials have said. The PM will lay the foundation stones of the Mumbai Metropolitan Region Development Authority's (MMRDA) Thane-Borivali and the BMC's Goregaon Mulund Link Road projects, both with twin tunnels. He will lay the foundation stone for Central Railway's Kalyan yard remodelling and the Gati Shakti MultiModal Cargo Terminal at Turbhe in Navi Mumbai. He will dedicate to the nation new platforms at Lokmanya Tilak Terminus and extension of platforms 10 and 11 at Chhatrapati Shivaji Maharaj Terminus, an official said on Friday. An MMRDA spokesperson said the Thane- Borivali Tunnel Project is being built at Rs 16,600 crore, adding the twin tube tunnels passing under Sanjay Gandhi National Park will create a direct connection between Western Express Highw

SBI raises Rs 10,000 crore at a coupon of 7.36% in 15-year infra bonds

Several other state-owned lenders such as Canara Bank and Bank of India are also planning to raise funds through infrastructure bonds

L&T bags Rs 10-15K cr order to build two solar plants in West Asia

Proposed plants will have a cumulative capacity of 3.5 GW, the Indian engineering giant said. The work on the projects will commence soon

FinMin concludes pre-Budget talks with 120 invitees, 10 stakeholder groups

Representatives from agriculture, education, health, MSME, energy, infrastructure sectors were the participants

Govt infra push steers steel demand to 221-275 mn tonnes by FY34: Report

With a sustained momentum of investment across different sectors, overall steel demand in India is projected to grow at a CAGR of 5 per cent to 7.3 per cent over the next decade leading to a steel demand of 221-275 million tonnes by FY 34 (under different scenarios), according to a report by Deloitte released on Friday. The report, released at ISA Steel InfraBuild Summit here, also said Maharashtra, Uttar Pradesh, Gujarat, Karnataka and Tamil Nadu have established themselves as leaders in steel consumption, leading to 41 per cent of the total consumption in FY23. "Government spending on infrastructure projects will drive the initial growth phase in the next decade. The development of 11 industrial corridors comprising 32 projects, to be developed in four phases under the PM Gatishakti National Master Plan, will be a key driver for steel consumption," the report explained. From FY14 to FY24, India's finished steel consumption posted a CAGR of 5.67 per cent. In FY24, domestic finished

Investments in Indian real estate rise to record $4.8 bn in H1 2024: Report

Investment volumes in the first six months reach 81% of made in 2023, says JLL

Office transactions hit record highs in H1 2024: Knight Frank India

The office market saw 25.1 million square feet completed in H1 2024

Govt to use 50% of India AI mission funds for GPU procurement: MeitY

GPUs are specialised chips optimised for accelerating artificial intelligence and machine learning tasks through faster processing