Highways Financial News

Mrinal Mitra is an NRI living in Canada. Recently, he shared with us that his ancestral home in Kolkata is being sold and he is expecting his part to be around Rs 15 lakh. Mrinal said the money will be deposited in a joint account with his daughter in State Bank of India, New Delhi. However, his daughter is still a student in Canada.

International Trade Show (UP ITS) and the MotoGP race that are taking place in Greater Noida until September 25. Police said violators of this order will be subjected to punishment under Section 32 of the Police Act 1861.

National Highway Authority of India (NHAI) inaugurated a 244 km stretch of Delhi-Mumbai Expressway between Jhabua of Madhya Pradesh to Modak of Rajashtan, near Jhalawar, on Wednesday i.e September 20, 2023. The new stretch of the expressway is passing through Madhya Pradesh covering several districts in the western region. This new road connectivity for the state passing through Jhabua, Mandsaur and Ratlam districts in Madhya Pradesh, connecting major cities, including Garoth, Jaora, Ratlam, and Thandla will open a direct conduit to New Delhi, the national capital and, Mumbai, the financial capital of the nation, the Times of India reported.

Samakhiyali Tollway Private Limited, a special purpose vehicle of IRB Infrastructure Developers, will execute the Samakhiyali-Santalpur highway project in Gujarat with an outlay of Rs 2,092 crore, according to a statement on Thursday. The project is to be executed on Build Operate and Transfer (BOT) mode, IRB Infrastructure Developers (IRB) said in the statement. «Samakhiyali Tollway Private Limited has successfully achieved financial closure for its Samakhiyali Santalpur BOT highway project in Gujarat.

As sales of electric vehicles continue to grow, so do the number of questions curious shoppers have when considering making the switch to a fully electrified car, truck or SUV

₹80, a craft chocolate bar can cost anywhere between ₹200 and ₹400. But unlike beer or coffee, chocolates have a wider consumer base, including children. The appetite appears to be growing fast.

acquisition of about 11 per cent stake in TVS Credit Services Ltd by PI Opportunities Fund-I Scheme-II (PIOF-II) and certain individuals.

Neelkanth Mishra, Chief Economist, Axis Bank; Head of Global Research, Axis Capital, says coming to “investment themes, I am observing that because everyone wants to invest in defence and railways, there is a very steady rise in price-to-earnings multiples without an appropriate visibility on what is happening with their own order books. Will they be able to participate in this? Will they be able to compete in this? Even on something like electronics, there is a very good probability that India's electronics ecosystem will continue to grow.”Capex seems to be focused around infrastructure development. Road has been a resounding success. Now it is tilting towards defence and railways. While the shift is happening, equity markets have been mighty excited. We know about the rally in defence, railway and shipbuilding stocks. What is the right way of understanding these government commitments towards shipbuilding, road, defence, railways? Can you connect the equity market outlook?The central government can control these sectors directly. National highways, railways, defence are central subjects and this is where the central government can play a big role. On the road side, it is unreasonable to expect that if you are already doing 15,000-16,000 km a year, you will be able to do much more than 18,000-20,000 km a year. So incremental growth in terms of the pace of construction at the national highway level may not really accelerate from here.

Bengaluru are set to go up from next month, as the state government is mulling an increase in ‘guidance value’. Karnataka Revenue Minister Krishna Byre Gowda on September 19 said that the new revised "guidance value" of properties will come into force from October 1. The guidance value is the minimum selling price of a property fixed by the government, depending on the locality and type of structure.

Justin Trudeau seems to have gone all Kim Jong Un by stating in Canada's parliament on Monday that 'credible intelligence' from security services link the assassination of Hardeep Singh Nijjar, a pro-Khalistani Canadian citizen, with the 'agents of the Government of India'. GoI has reacted by calling Trudeau's theory 'absurd'.

NEW DELHI : Monsoon rains that arrived late but then lingered for an extended period, coupled with land acquisition delays, have slowed down road-building in the country. Signs of slowdown in road construction became pronounced with the government scaling down capital expenditure for the sector in calendar year 2023. It built just about 23% of highways in the first five months of FY24 against a record target of 13,800 km.

Society of Manufacturers of Electric Vehicles (SMEV) on Tuesday urged the government to formulate a unified policy of road tax exemption for Electric Vehicles (EVs) across the country. In a letter to the Union Road Transport and Highways Minister Nitin Gadkari, SMEV said a consistent and favourable policy environment is essential to accelerate the shift towards electric mobility in India. «I am writing to request your esteemed office to weigh in on a unified policy of road tax exemption for EVs that will play a pivotal role in encouraging the adoption of clean and sustainable transportation options, which is vital for our nation's environmental and economic future,» SMEV Chief Evangelist Sanjay Kaul wrote. In July, SMEV had named Kaul as its Chief Evangelist to help revise the association's agenda.

NEW DELHI : Nestlé India Ltd’s noodle brand Maggi is making a big comeback at the ₹10 price point, as the packaged consumer goods company aims to stave off competition and claw back market share in smaller towns and villages with an attractive price point. The local unit of the Swiss company, which used to sell Maggi in 100g packs for ₹10, raised the price to ₹12 in December 2014 and further to ₹14 in February last year to account for rising raw material costs. The new ₹10 pack, introduced in so-called Rurban markets (rural markets and small towns) across 15 states, weighs 40gm.

Minister for Road Transport and Highways Nitin Gadkari is undoubtedly a man in a hurry. His go-getter attitude has undoubtedly transformed highway construction in India. Under his remit, the pace of road construction in India has leapfrogged from around 3 km per day to around 37 km per day.

₹1,770 crore. The MMLP will be spread across 400 acre at Muddelinganahalli in Bengaluru rural. The project is poised to become the first and largest MMLP ever implemented in the country under the PM GatiShakti National Master Plan.

Pakistan's development expenditure has nearly come to a standstill, with just Rs 22.5 billion spent in the first two months (July-August) of the fiscal year, against an annual budget allocation of Rs 950 billion, Dawn reported. This comes amid rising interest payments and disruptions caused by a change in the government. Dawn is a Pakistani English-language newspaper. As per data from the Ministry of Planning and Development, the actual expenditure on core development in two months further plunged to a mere Rs 8.1 billion after excluding the Rs 14.4 billion disbursed by the previous Pakistan Democratic Movement (PDM) government for its parliamentarians' schemes, under the Sustainable Development Goals (SDGs) Achievement Programme (SAP), during the first 40 days of the fiscal year. A senior official claimed that a significant portion of Rs 8.1 billion was spent before the caretaker government took office. This amount included Rs 2.8 billion utilised by water sector projects, Rs 1.5 billion in the power sector, and an additional Rs 1.4 billion in the information technology and telecom sector, covering both local and international contractual obligations.

NEW DELHI : The Union government is working on a production-linked incentive (PLI) scheme worth ₹12,000 crore for heavy machinery used in mining and construction, two people aware of the development said. The heavy industries ministry is currently seeking industry inputs on product coverage, implementation and quantum of incentives, the people said on condition of anonymity. The scheme size may vary between ₹8,000 crore and ₹12,000 crore, but discussion on this is yet to conclude.

trauma care system which will be woven into the Ayushman Bharat scheme to expand its outreach to people at the lowest levels and reduce cost of emergency services. The move is aimed at providing worldclass emergency services to prevent large numbers of deaths from road accidents and providing trauma care in other emergencies, including disasters. The plan is to develop a national policy for triage (preliminary assessment of patients or casualties) while laying out standardised protocols for care, establishing world-class ambulance services with effective paramedics and significantly enhancing the number of blood banks.Niti Aayog is in talks with stakeholder ministries, including ministries of health and family welfare and road transport and highways, to develop a strong, holistic ambulance-emergency-trauma care system, a senior government official told ET.

Doug Ford were to look into the province’s transportation infrastructure projects — such as the twinning of highways, widening the 401 and uploading the Toronto subway system — the ministry was also directed to audit projects announced under the former Liberal government.“Review the province’s planned $190 billion of capital investments in infrastructure and ensure that money is being deployed in a proper fashion and on the right projects for Ontario families and businesses,” the mandate letter read.The directives then instructed the minister to work with the province’s housing minister to “evaluate the province’s real estate portfolio” and offload unused properties.“Either sell inefficiently used properties, donate them to municipalities for social housing builds, or repurpose these facilities for more efficient use,” the letter stated, adding that air right above transit stations or provincially owned assets were also to be targeted for sale.Vacant units were to be divested immediately if the sale was “feasible or logical.”That mandate was later passed onto Infrastructure Ontario, the crown agency tasked with managing the contracts and construction for projects in the province ranging from transit to hospitals or bridges.Public documents dating back to 2019 show the Ontario government reviewed and approved the divestment of 243 properties generating between $105 to $135 million as part of a four-year Accelerated Divestment Plan.Meanwhile, the premier’s office also wanted more private sector involvement in the building of public infrastructure.

California will spend $267 million to combat smash-and-grab robberies that have plagued businesses and luxury stores in the state

Manik Saha met Prime Minister Narendra Modi in New Delhi on Saturday. The Chief Minister apprised the Prime Minister of various on-going development works and future plans in Tripura as well as discussed other important issues including international flight connectivity with Bangladesh, Agartala-Akhaura rail link project, commencement of services through Bharat-Bangla Maitri Setu and Highway infrastructure. The Chief Minister greeted the Prime Minister for successfully holding the G20 Presidency and took his guidance for overall development of the state. Saha also conveyed birthday greetings to the Prime Minister in advance.