New Delhi: The infrastructure sector has remained clogged by bottlenecks so much so that it accounted for one of the highest stressed advances by public sector banks, but a slew of steps are on fast-track its growth, says the Economic Survey.
"Infrastructure, iron & steel, textiles, mining (including coal) and aviation, hold 54 per cent of total stressed advances of PSBs as on June 2014," said the Economic Survey for 2014-15, tabled in Parliament today.
It said exposure of PSBs to infrastructure stood at 17.5 percent of their gross advances and was significantly higher than private sector and foreign banks.
The Survey added however that government's focus was on resolving issues that have marred the sector's growth.
Mumbai - Reliance Infrastructure has signed an agreement with US-based Innovari on expanding Automated Demand Side Management (ADSM).
The MoU, inked during US President Barack Obama's visit to India, will reduce power purchase for Reliance Infrastructure and ensure reduction in carbon footprints for consumers, Reliance Infrastructure said in a BSE filing.
"This further extends the existing strong business relationship between Reliance Group and companies from the United States such as Caterpillar, Bucyrus, Atlas Copco, Forst Solar, etc in areas of solar power, power generation equipment, LNG imports, coal mining, and entertainment," Group President, Corporate Affairs, A Sethuraman said.
New Delhi, Jan. 18 - Japan is ready to invest in building roads and infrastructure in India's landlocked northeast, excluding the state of Arunachal Pradesh, said Foreign Minister Fumio Kishida here over the weekend.
China is in dispute with India over the state of Arunachal Pradesh, calling it south Tibet, especially Tawang, a key site for Tibetan Buddhism. The historic town briefly fell into Chinese hands during the 1962 war before Beijing retreated. However, New Delhi regards it an integral part of India.
Brisbane - Australia's Queensland state will announce a major investment in rail infrastructure in the Galilee basin to ensure that one of the mega-mines proposed by India's Adani group and GVK get a clearance next year.
Queensland Premier Campbell Newman, who held talks with Prime Minister Narendra Modi here last night, said he was prepared to invest in capital works to ensure that the projects get off the ground.
The offer came even as the G20 leaders affirmed their commitment to boosting energy efficiency and phasing out fossil fuel subsidies that encouraged wasteful consumption.
Modi during his intervention at the G20 summit had pushed for energy efficiency.
Oslo, Oct 14 : President Pranab Mukherjee on Tuesday invited Norway to invest in the infrastructure sector of India, calling it an area of focus for the nation and thus a great opportunity for the Scandinavian country.
Hyderabad - Infrastructure major GMR Group propose to develop airport city at Hyderabad airport with world-class facilities at a cost of Rs.750 crore.
It plans to an exhibition-cum-convention centre on about 50 acres of land comprising one lakh square meters area as part of the airport city.
The airport city proposed around Rajiv Gandhi International Airport, which GMR operates, will create 15,000 to 20,000 jobs.
A GMR team led by its chairman G. M. Rao Friday made a presentation before Chief Minister K. Chandrasekhar Rao and sought the government`s support for their plans.
Mumbai - India's infrastructure market is expected to touch USD 6.6 trillion by 2025, which will be nearly 12.5 percent of the Asia-Pacific, says a report.
According to consultancy firm PwC, the Asia Pacific infrastructure market is expected to grow by 7-8 percent a year over the next decade to over USD 53.6 trillion by 2025 and representing nearly 60 percent of the world total.
The increase in infrastructure spends in the country is likely to be driven by sectors like housing, telecom, healthcare, education, transportation, among others, it said.
New Delhi, Sep 5 : Australian Prime Minister Tony Abbott said here on Friday that he and Prime Minister Narendra Modi both wish to be known as the infrastructure Prime Ministers.
"Both PM Modi and I wish to be known as infrastructure PMs and the G20 will focus on mobilizing private capital to address the world's infrastructure deficit," PM Abbott said while addressing a Business Meet in New Delhi.
Washington, May 20 : The Shard, was chosen by an international panel of experts from more than 300 skyscrapers of at least 100 meters' height and which were completed during the previous calendar year, for the prestigious The Emporis Skyscraper Award.
The award, given by Emporis (www emporis com), the international provider of building data, is now into its fourteenth year.
Mumbai, May 19 : Reliance Infrastructure (RInfra) Monday announced its financial results for the year ended March 31, 2014, with a net profit of Rs. 1,914 crore ($319 million), an increase over the corresponding previous year's Rs. 1,872 crore.
The total income for financial year 2014 was Rs. 20,274 (&3.4 billion), against Rs. 23,433 crore in the previous financial year when there was exceptional item of Rs. 379 crore pertaining to sale of RPower shares through Offer For Sale mechanism.
Commuters can finally travel on the Delhi-Gurgaon expressway for free without suffering huge traffic snarls at toll plazas as the expressway has been made toll-free.
The Delhi-Gurgaon expressway which links the national capital and the satellite town in Haryana is used by lakhs of commuters daily. The Gurgaon toll plaza had been a major traffic bottleneck on the busy expressway.
New Delhi, Feb 19 : Investment in infrastructure fell from Rs. 645,175 crore in 2010-11 to Rs. 576,855 crore in 2012-13, the Lok Sabha was informed Wednesday.
Minister of State for Planning Rajeev Shukla said infrastructure was defined to include electricity, renewable energy, roads and bridges, telecommunications, railways, mass rapid transit system, irrigation, water supply and sanitation, ports and airports.
He said among the steps taken to boost investment in infrastructure was setting up a cabinet committee headed by the prime minister to fast track approvals of key projects. (IANS)
With an aim to provide a boost to India's economic growth, the union government's cabinet committee on economic affairs on Monday approved several major infrastructure projects.
The committee approved setting up of the Amritsar-Kolkata Industrial Corridor (AKIC) and the formation of the AKIC Development Corporation (AKICDC).
According to the latest figures released, the construction activity has fallen around 4 per cent, indicating that the economic recovery in the country is still fragile in the UK
The country's manufacturing output and broader industrial production remained stagnated in November, compared to expectations for growth. The figures released by the Office for National Statistics indicated that the UK economic is still recovering.
New Delhi, Dec 26 : The government Thursday approved upgrading of two highway projects under various stages of the National Highways Development Programme (NHDP) with a total outlay of Rs. 1,912.01 crore.
The Cabinet Committee on Economic Affairs (CCEA) approved the development of the Gaya-Hisua-Rajgir-Nalanda-Biharsharif section of National Highway (NH) 82 and the Vadodra-Surat section of NH 8.
The Gaya-Biharsharif section in Bihar, with a total length of 93 km under various stages of the NHDP, is expected to be completed within three years of signing of the contract agreement.
Tokyo, Dec 11 : JFE Engineering Corporation has established J and M Steel Solutions Company Limited, a joint venture company, committed to infrastructure construction with Myanmar's Ministry of Construction.
It has commenced the construction of a new plant.
The company is optimistic as Myanmar has been enjoying dramatic economic development since its democratisation in 2011.
Therefore, the country urgently requires the construction of transportation infrastructure such as roads and railways, as well as logistics infrastructure, including port terminals.
Mumbai, Nov 18 : A 331-km long 400 KV Double Circuit Transmission Line has been commissioned by Reliance Infrastructure Ltd. (RInfra) which will connect key industrial regions of Pune, Aurangabad and Beed, an official said here Monday.
Implemented through RInfra subsidiary Reliance Power Transmission Ltd., the project is part of the Western Region System Strengthening Scheme II (WRSS) in the state, said RInfra CEO Lalit Jalan.
This is the country's first ever fully privately owned inter-state transmission project of the National Grid.
Mumbai, Nov 11 : Reliance Infrastructure (RInfra) Monday reported a 12 percent rise in consolidated net profit at Rs. 427 crore for the second quarter ended September over a profit of Rs. 382 crore in the corresponding quarter of the previous year.
The company's total income fell to Rs. 5,273 crore from Rs. 5,798 crore in the corresponding period of the last fiscal.
RInfra's income from operations in the quarter decreased to Rs. 2,831.80 crore from Rs. 3,500.22 crore in the corresponding period of last year.
The company said it earned revenues of Rs. 159 crore from its road projects
Bangalore, Sep 16 : Karnataka sought overseas investments in the infrastructure sector and latest technology to improve productivity in the farm sector, Chief Minister Siddaramaiah said Monday after returning from a week-long visit to China.
"As we need huge investments in infrastructure projects to grow our economy in double digit, we held a road show Sep 13 at Dalian on the investment opportunities in the state and policy initiatives to attract global investors," Siddaramaiah told reporters here.
The demand for housing loans improved in the US as the mortgage rates fell from their peak this year for the first time in four weeks.