Page 2 - Infrastructure Investment

Centre releases additional Rs 73k crore tax devolution to states

Money released for financing social welfare measures and infrastructure development: Finance Ministry

Joshimath crisis: Govt approves Rs 1,658 cr recovery, reconstruction plan

The Centre on Thursday approved a Rs 1658.17 crore recovery and reconstruction plan for Joshimath in Uttarakhand which was affected by landslide and ground subsidence earlier this year. The decision was taken by a high level committee, headed by Union Home Minister Amit Shah, according to an official statement. The committee approved the Recovery and Reconstruction (R&R) plan of Rs 1658.17 crore for Joshimath, the statement said. Under this plan, Rs 1079.96 crore of central assistance will be provided from the recovery and reconstruction window of the National Disaster Response Fund (NDRF). The Uttarakhand government will provide Rs 126.41 crore from its State Disaster Response Fund (SDRF) towards relief assistance and Rs 451.80 crore from its state budget, including land acquisition cost for resettlement of Rs 91.82 crore. Joshimath was hit by landslide and ground subsidence and the central government has extended all necessary technical and logistical support to the state, the

BoB to raise upto Rs 5,000 cr via 1st tranche of infrastructure bond

The bank had said that it will use the amount to fund business growth

India Grid Q2 net profit falls 69% to Rs 39 cr, total income up Rs 720 cr

Infrastructure investment trust India Grid Ltd (IndiGrid) on Friday reported a 69 per cent decline in its net profit to Rs 38.89 crore in the September quarter. Its consolidated net profit stood at Rs 125.79 crore in the quarter ended on September 30, 2022, according to a regulatory filing. The company's total expenses rose to Rs 683.39 crore in the July-September quarter from Rs 466.76 crore a year ago. During the period under review, total income also increased to Rs 720.18 crore as against Rs 595.91 crore in the year-ago period. The board of directors of IndiGrid Investment Managers Ltd (IIML) acting in the capacity of Investment Manager to IndiGrid also approved a declaration for the second quarter of FY24 distribution of Rs 3.55 per unit, comprising Rs 2.8961 per unit in the form of Interest, Rs 0.6341 per unit in the form of Principal payment and Rs 0.0198 in the form of Other Income. The record date for this distribution will be November 9, 2023, and payment will be made on

DTDC Express looks to invest Rs 100 cr in infra, tech development in FY24

DTDC Express looks to invest at least Rs 100 crore in infrastructure and technology development, among others, this fiscal amid a brighter business outlook, the company's chairman and managing director Subhasish Chakraborty has said. He said the company is also expecting 30 per cent growth in total shipments handling this festive season (October-November) as compared to September. The integrated express logistics operator, which has a presence in both domestic and international markets, offers a range of services including premium express, express parcel, e-commerce b2c as well as warehousing business. "Our investment is happening on infrastructure, technology (upgrade) development as well as building technology team. And this investment, possibly, will not be less than Rs 100 crore this year," Chakraborty told PTI in an interaction. The logistics sector is growing very strongly and is seeing much better and higher growth than the domestic economy, he said. "I am quite sure that w

Rajasthan CM approves Rs 18 crore for panoramas of great personalities

The chief minister announced the initiative during the 2023-24 state budget and will be financed by the state's Tourism Development Fund

Long road to fiscal consolidation

Even though India needs large infrastructure investments, the government should have prioritised fiscal consolidation

India's G20 presidency: Infra Working Group meet to begin today in Pune

A two-day G20 Infrastructure Working Group (IWG) meeting will begin in Maharashtra's Pune city on Monday where participants will deliberate on various aspects of infrastructure investments. The meeting will be joined by 65 delegates from IWG member countries, guest nations and international organisations invited by India to discuss the 2023 Infrastructure Agenda under India's G20 presidency, as per an official release. The Department of Economic Affairs, Ministry of Finance, and Government of India will host the two-day IWG meetings, with Australia and Brazil as co-chairs, the release said. "The G20 Infrastructure Working Group deliberates on various aspects of infrastructure investments, including developing infrastructure as an asset class, promoting quality infrastructure investment and identifying innovative instruments for mobilising financial resources for infrastructure investment," it said. The outcomes of the Infrastructure Working Group feed into the G20 Finance Track ...

SBI's maiden infra bond issue for Rs 10,000 cr oversubscribed 3.27 times

10-year paper priced at 7.51%, or about 17 bps above benchmark g-sec yield

Edelweiss Energy InvIT raises Rs 2,300 crore; to invest in energy assets

AnZen Trust has acquired two operating inter-state transmission assets, located in the states of Punjab, Haryana and Bihar

In US, FM calls for infra investments, simple international taxation rules

Finance Minister Nirmala Sitharaman on Thursday emphasised on infrastructure investments and simplification of international taxation rules

Capex loan disbursement to states may rise to Rs 70,000 cr by Q2 end

This is lower than Finance Minister Nirmala Sitharaman's expectation Rs 1 trillion would be released by end of September

IFCI approves allotment of preferential shares to govt to raise Rs 100 cr

The decision was taken at extraordinary general meeting (EGM) of the shareholders of the company, IFCI said in a regulatory filing

Need to bridge global infra funding gap: FM Sitharaman at G20 meet

Finance Minister Nirmala Sitharaman on Friday emphasised the need for bridging the infrastructure funding gap and developing innovative financing mechanisms for an inclusive growth in the sector.

PM announces Rs 100 trillion Gatishakti scheme for holistic infra growth

Modi on Sunday announced a Rs 100 lakh crore Pradhan Mantri Gatishakti initiative which will create employment opportunities for the country's youth and help in a holistic infrastructure growth.

India's economic recovery 'delayed' not 'derailed': L&T chief A M Naik

Says given the scale of India's infra deficit, the company is optimistic about govt's intent to complete projects as envisaged in the National Infrastructure Pipeline

More projects on road for NHAI's infrastructure investment trust

It is expected that the InvIT would overtake the toll-operate-transfer (TOT) projects as the preferred monetisation route for the authority during the current year

Sebi frowns on InvITs with too few investors, asks them to expand base

The regulator is concerned about the structure being used for getting around tax requirements, according to a sources

Govt to launch national monetisation pipeline for brownfield infra assets

Finance Minister Nirmala Sitharaman said the government will launch national monetisation for potential brownfield infrastructure assets

PE/VC investments in 2020 at par with 2019 at $47.6 billion, says EY-IVCA

Investments in Reliance Group entities worth S$17.3 billion accounted for 36% of all PE/VC investments in 2020