Thursday, January 16, 2025 | 03:40 AM ISTEN Hindi

Pmgsy Rural Roads Project

Morgan Stanley upgrades India to standout overweight citing earnings growth

The Wall Street major Morgan Stanley has upgraded India to "standout overweight" citing that the relative economic and earnings growth is improving and the macro-stability setup looks sufficient to withstand the higher real rate environment. "India remains standout overweight. We increase our overweight stance on Indian equities and as our most-preferred emerging market," the brokerage said in a note on Friday. The "dream" run of domestic flows continues and multipolar world dynamics are driving both FDI as well as portfolio flows towards the country, it said. Not just that domestic equities tops the brokerage's global equity investment score with an overall score of 68. Singapore though is at the second highest score is a distant 54, Greece at 47, Mexico at 43 and Poland at 38, making the top five markets for the company this year. India has been structurally outperforming MSCI EM index by 45.5 per cent (in USD terms) from early 2021 until October 2022, and "we expect outperforma

Updated On : 20 Oct 2023 | 8:20 PM IST

Rural Development Ministry sanctions over Rs 36 cr under PMGSY for Ladakh

The Rural Development Ministry has sanctioned Rs 36.65 crore for the Union Territory of Ladakh under the Pradhan Mantri Gram Sadak Yojana, or PMGSY, for the financial year 2023-24. A circular issued by the Ministry on October 19 said the UT administration must transfer these funds to Ladakh Rural Road Development Agency (LRRDA) within a maximum period of 30 days from the date of receipt of these funds. The circular also said in case of delay beyond 30 days in the transfer of the central share to the Single Nodal Agency, interest will be charged at the rate of 7 per cent per annum. "In case of non-transfer beyond this period, Central Government may also be constrained to stop further releases," the circular said. The corpus of Rs 36,65,62,500 will be used for the construction of roads and bridges, district roads, and PMGSY roads in the Union Territory that shares its borders with China and Pakistan. This is the first tranche of the first instalment of the Programme Fund of Annual .

Updated On : 20 Oct 2023 | 7:23 PM IST

Mamata Banerjee to launch scheme for development of rural roads in Bengal

West Bengal Chief Minister Mamata Banerjee will launch a scheme for development of rural roads at Singur in Hooghly district on Tuesday. Under the 'Pathashree-Rastashree' scheme around 12,000 km of roads will be constructed or reconstructed in 29,475 villages of the state, a senior official of the Panchayat and Rural Development department said. Twenty two districts will benefit from this project as 8,767 roads have been approved under this scheme, he said. "New roads will be built and old ones will be completed within a specific time with the financial assistance of the state government. The CM will launch the scheme today from Singur," minister of state for panchayat, Becharam Manna told PTI. The official said that 1,548 roads will be upgraded under the scheme.