Page 7 - India's Infrastructure

431 infra projects hit by cost overrun of Rs 4.80 trn in Jan, says Mospi

As many as 431 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by cost overrun of more than Rs 4.80 lakh crore in January 2024, an official report stated. According to Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,821 projects, 431 reported cost overrun and 780 projects were delayed. " Total original cost of implementation of the 1,821 projects was Rs 26,09,679.38 crore and their anticipated completion cost is likely to be Rs 30,90,135.99 crore, which reflects overall cost overruns of Rs 4,80,456.61 crore (18.41 per cent of original cost)," the ministry's latest report for January 2024 said. According to the report, the expenditure incurred on these projects till January 2024 is Rs 16,43,821.69 crore, which is 53.20 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreases to 583 if delay is ..

PM Modi launches Rs 32,000 cr worth of development projects in J-K

Prime Minister Narendra Modi on Tuesday launched multiple development projects, including for education, railway, aviation and road sectors, in Jammu and Kashmir worth over Rs 32,000 crore. From Jammu, the prime minister also launched or laid foundation stone of projects worth Rs 13,500 crore across the country. These projects include Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs) and central universities. Modi distributed appointment letters to about 1,500 newly recruited government employees of Jammu and Kashmir and also interacted with the beneficiaries of various schemes as part of the 'Viksit Bharat, Viksit Jammu' programme. Among the railway projects that Modi inaugurated are the railway line between Banihal-Khari-Sumber-Sangaldan (48 km) and the newly electrified Baramulla-Srinagar-Banihal-Sangaldan section (185.66 km). He flagged off the first electric train in the Valley and the train service between Sangaldan and Baramulla stations. The .

JICA signs Rs 2,800 cr loan pact for Chennai peripheral ring road project

The objective of the project is to meet the rapidly increasing traffic demand in the Chennai metropolitan area, ease congestion, reduce transportation time

Incentives for tech, infra needed to develop critical mineral sector: GTRI

Measures such as fiscal incentives, investments in technology and infrastructure, mining operations abroad and conducive regulatory environment are a must for developing India's critical mineral sector, a report by think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said in its report that India is focusing on developing its critical mineral sector as it is vital for high-tech and renewable energy technologies. At present, India depends on imports, particularly from countries like China, Congo, Chile, Indonesia, South Africa, Argentina, Vietnam, US, Canada and Australia. Critical minerals such as lithium, chromium, cobalt, antimony, arsenic, barite, beryllium, bismuth, cesium, fluorspar, gallium, germanium, graphite, hafnium, and others are indispensable for modern technologies. They are integral to the manufacturing of various high-tech applications, including mobile phones, flat-screen monitors, wind turbines, electric vehicles (EVs), solar panels, drones,

The mystery of Rs 8-trn gap between dropped, completed projects in capex

Govt's contribution in the trend is now trending higher than the private sector's

Over 800,000 vehicles ply on Mumbai's Atal Setu link in over one month

The much-hyped sea bridge has also become a popular spot for people to take selfies by stopping their vehicles on the bridge, prompting police to take action

Delhi HC reserves order in Supertech Chairman RK Arora default bail plea

The Delhi High Court on Wednesday reserved the order on the default bail plea moved by the Supertech Chairman RK Arora plea in a money laundering case

Kerala govt plans drive and charge infrastructure for electric vehicles

Pilot project to take shape in FY25; roads to have copper coils with receivers on vehicles

Hudco plans to raise up to Rs 23,000 crore to fund infra projects

It raised Rs 5,476 crore through medium-term loans, Rs 2,782 crore through short-term credit, and Rs 1,500 crore via taxable bonds in April-December 2023

PM GatiShakti: Five road, railway infra projects recommended for approval

Five infrastructure projects of roads and railways have been recommended for approval under the PM GatiShakti initiative, the commerce and industry ministry said on Friday. These projects were assessed in the 65th Network Planning Group (NPG) meeting. "The NPG examined the projects from the perspective of integrated planning based on the PM GatiShakti principles. The project details were examined based on the planning/mapping on PM GatiShakti National Master Plan (NMP)," it said. The projects which are evaluated include highway projects in Goa, Meghalaya and Assam; construction of rail-over-rail bulb line in Bihar; and urban metro transit projects in Bengaluru and Delhi/NCR. The inter-ministerial NPG meets every fortnight and appraises infra projects to ensure multi-modality, synchronisation of efforts and comprehensive development in and around the project location. The initiative was launched to develop an integrated infrastructure to reduce logistics costs. All logistics and ..

Alstom starts production of driverless trainsets for Chennai Metro Phase II

Smart mobility company has to deliver 36 trainsets, each comprising three cars

Lakshadweep tourism: Island to receive Rs 3,600 cr infrastructure upgrade

Infrastructure upgrade initiative to include port facilities, roads, and beachfront amenities across Lakshadweep islands to boost domestic tourism

L&T wins contract for Assam bridge, to boost link to textile hub Sualkuchi

The foundation stone for the key infrastructure project was laid during Prime Minister Narendra Modi's visit to Assam during the festival of Bihu last year

Those in power after Independence were ashamed of their own culture: PM

Prime Minister Narendra Modi on Sunday claimed that those in power after Independence could not understand the significance of places of worship and set a trend of being ashamed of their own culture for political reasons. Addressing a massive rally in Guwahati after unveiling projects worth Rs 11,600 crore, Modi said that no country can progress by erasing its past. "However the situation has changed in the last 10 years," he said. Modi said that the projects he unveiled will strengthen connectivity not only in the Northeast, but also the rest of South Asia. He said that peace has returned to Assam in the last 10 years and over 7,000 people have put down arms and returned to the mainstream. "A record number of tourists have visited the region in the past decade," he added.

PM Narendra Modi to unveil projects worth Rs 68,400 crore in Odisha

Prime Minister Narendra Modi will arrive in Odisha on Saturday afternoon to unveil projects worth Rs 68,400 crore in the state, including the new campus of IIM-Sambalpur, officials said. The prime minister will reach the Jharsuguda airport around 1 pm, and head to the IIM-Sambalpur campus where CM Naveen Patnaik, Governor Raghubar Das and Union Education Minister Dharmendra Pradhan will join him, they said. Besides the Rs 400-crore campus, Modi will also unveil infrastructure projects worth Rs 68,000 crore. These projects span sectors such as power, roads and railways. Modi will address a public meeting at Remed Ground around 3 pm, before leaving for Guwahati, officials said. Stringent security arrangements have been made for the PM's visit, they said.

PM Modi to lay foundation stone of projects worth Rs 11,599 cr in Guwahati

The Prime Minister will inaugurate and lay the foundation stone of projects worth Rs. 11,599 crore in Guwahati

India Cements Q3 result: Loss of Rs 16.5 cr due to subdued demand

India Cements reported a loss for the third quarter on Thursday, hit by subdued demand due to a slow down in construction activity ahead of elections and cyclone in some states

Govt to add more medical colleges by utilising existing infra: Sitharaman

The government plans to set up more medical colleges by utilising existing hospital infrastructure and will set up a committee to examine the matter, Finance Minister Nirmala Sitharaman said while presenting the interim Budget for 2024-2025 on Thursday. The minister also said that the government will encourage vaccination for girls in the 9-14 year age group for the prevention of cervical cancer. Various schemes for maternal and child healthcare will be brought under one comprehensive programme for synergy in implementation, Sitharaman said in Parliament. "Several youth are ambitious to get qualified as doctors. They aim to serve our people through improved healthcare services. Our government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments. "A committee for this purpose will be set up to examine the issues and make relevant recommendations," Sitharaman said. The newly designed U-WIN platform for managing immunisatio

Modi's thrifty populism is working for now, but may have a cost in future

Over the years, Modi has instead spent the extra money available to him on infrastructure

April-Dec fiscal deficit at Rs 9.82 trn, 55% of annual target: Govt

Total expenditure during the period was 30.54 trillion rupees, or about 68% of the annual goal, compared with 28.18 trillion rupees in the same period last year