highways, nhai, roads, construction, transport, monetisation, privatisation, disinvestment

Mumbai dominates tall buildings in India, accounting for 77%, followed by Hyderabad at 8%, Kolkata at 7%, and Noida at 5%. Gurgaon, Bengaluru, and Chennai each contribute 1%

highway

Awarded civil cost of Dwarka e-way 12% less than estimates, says top official

road construction

The government saved over 12 per cent in construction cost against estimates in awarding contracts of Urban Extension Road-II or Dwarka Expressway, and CAG findings that the cost was exorbitant are misplaced as the auditor did not factor in the actual cost, top sources in the road transport ministry said.
According to reports, the Comptroller and Auditor General (CAG) had found that the National Highways Authority of India's (NHAI) decision to go for an elevated carriageway on the Haryana portion of the Dwarka Expressway pushed up the construction cost to Rs 251 crore per kilometre from Rs 18.2 crore per km estimated earlier.
The audit report on the implementation of Phase-I of the 'Bharatmala Pariyojana' highway projects, triggered a political row with the opposition parties alleging corruption in the process of awarding the project.
The ministry sources explained that all four packages of Dwarka Expressway were put for tender at an average civil cost of Rs 206.39 crore per kilomet

Aam Aadmi Party

The AAP on Wednesday protested at the under-construction Dwarka Expressway here after the Comptroller Auditor General of India reportedly flagged the huge cost escalation in the construction of the expressway.
Several party leaders and workers, including chief national spokesperson Priyanka Kakkar and Reena Gupta, gathered near the Dwarka Expressway Highway, alleging the project to be a "scam".
This is such a big scam that the road, for which an approval of Rs 18 crore per km was given, was built at a cost of Rs 251 crore, Kakkar told PTI.
According to media reports, the CAG audit report on the implementation of Phase-I of the 'Bharatmala Pariyojana' highway projects flagged how the National Highways Authority of India's (NHAI) decision to go for an elevated carriageway on the Haryana portion of the Dwarka Expressway pushed up the construction cost to Rs 251 crore per kilometer from Rs 18.2 crore per kilometer.
Delhi Chief Minister and AAP supremo Arvind Kejriwal had alleged that t

Delhi Chief Minister Arvind Kejriwal

Delhi Chief Minister Arvind Kejriwal on Monday alleged that the Prime Minister Narendra Modi-led government has broken "all records of corruption" after the Comptroller Auditor General (CAG) of India reportedly flagged the "very high" construction cost of the Dwarka Expressway.
According to media reports, the CAG audit report on the implementation of Phase-I of 'Bharatmala Pariyojana' highway projects has flagged how the National Highways Authority of India's (NHAI) decision to go for an elevated carriageway on the Haryana portion of the Dwarka Expressway pushed up the construction cost to Rs 251 crore per kilometer from Rs 18.2 crore per kilometer.
"The Modi government has broken all the records of corruption in the past 75 years," Kejriwal charged in a post on X, earlier known as Twitter, sharing a screenshot of a media report on the CAG report.
Addressing a press conference at the AAP headquarters here, party Rajya Sabha MP and national spokesperson Sanjay Singh also targeted Mod

Dwarka Expressway

The site where the incident occurred is where construction of an elevated portion of the Link Road is underway

Nitin Gadkari

Dwarka Expressway, India's first elevated urban expressway, being constructed at an estimated cost of Rs 10,000 crore, as part of the Delhi decongestion plan, will be completed in the next 3-4 months, Union Minister Nitin Gadkari said on Thursday.
The Expressway will be completed in four packages, he added.
The road transport minister said Dwarka Expressway will have a fully-automated tolling system and the entire project will be equipped with an intelligent transportation system (ITS).
Dwarka Expressway starts near Shiv Murti on NH-8 and terminates near Kherki Daula Toll plaza on NH-8.
The total length of Dwarka Expressway is 29 km, out of which 18.9 km length falls in Haryana, while the remaining 10.1 km is in Delhi.
It will provide connectivity to Indira Gandhi International Airport from Dwarka side through Dwarka Expressway.
In addition the proposed Dwarka Expressway would provide direct access to upcoming India International Convention Centre in sector 25 of Dwarka.

Traffic jam, congestion, road block, Bharat Bandh

For the past few days, commuters in Delhi have been complaining about jams across the city. But why is the Capital choking with high traffic? Find out here

Realty firm Elan Group on Friday said it has raised USD 60 million from global investment firm PAG to fund construction of projects, reduce debt and expand business.
The company has secured a second round of funding from PAG. In August this year, it had raised USD 50 million from PAG.
The investment will be used towards growth capital to endorse existing debt and to scale up construction of its new luxury housing project -- "The Presidential", located in Sector 106 Gurugram.
"This follow-on financing from PAG further strengthens the partnership between both firms and the team at Elan is geared up to put this capital to its most efficient use", said Sandeep Agarwal, CFO, Elan Group.
Last month, Elan Group announced an investment of Rs 4,000 crore to develop its first housing project on Dwarka Expressway in Gurugram.
In January, the group bought 40 acres of land in Gurugram from Indiabulls Real Estate Ltd (IBREL) for Rs 580 crore for the development of housing and commercial project

Delhi-Gurugram Expressway is a part of Delhi-Jaipur-Ahmedabad-Mumbai arm of Golden Quadrilateral

Gurugram, Chintels India, residential tower collapse

The incident happened at 'Chintels Paradiso' project at Sector 109, Gurugram in Haryana

The National Highways Authority of India (NHAI) on Sunday said it has suspended key personnel of developer Larsen & Toubro and supervision consultant AECOM after a portion of an under-construction elevated road on Dwarka expressway collapsed this morning.
It said the personnel were suspended pending the outcome of investigation by an expert committee being constituted to probe the incident.
A portion of an under-construction elevated road on the Dwarka Expressway collapsed here on Sunday morning, injuring three workers.
"Authority has viewed the incident seriously and pending the outcome of the investigation by the committee, the concerned key personnel of the Contractor M/s L&T and Supervision Consultant M/s AECOM have been suspended as per Standard Operating Procedure (SOP) of NHAI," the NHAI said in a statement.
The accident site is being secured with necessary precautions taken to prevent any further damages, the statement said.
It said: "An unfortunate incident happened ..

After a section of an under-construction flyover on the Dwarka Expressway collapsed on Sunday morning, the NHAI has launched probe into the matter

Flyover

The broken span is part of the 29-km long expressway, which is intended to connect Kherki Daula on the Delhi-Gurugram Expressway with Shiv Murti near Mahipalpur

Road

RInfra has even refused to extend the validity of its bid over delay in land acquisition

Stocks to watch on Thursday, September 28 2023: Telecom stocks too may see some action after Trai data for July showed considerable new subscriber additions for Jio and Airtel; and loss of market shar

BSE, stock market, sensex

Closing Bell on September 28, 2023: 
Tech M, which sank 4 per cent, was the top laggard on the benchmarks after Morgan Stanley downgraded the stock to 'underweight'

bulls, bears, markets, sensex

Vedanta Ltd.'s parent, Vedanta Resources, will remain the holding company, the people said. Deliberations are ongoing and no final decisions on the structure or timing of the de-merger have been made

Vedanta refinery

As markets anticipate inclusion of the debt in other indexes, including the Bloomberg Global Aggregate, the flows could rise to $50 billion by the end of next year

ICICI Bank

RBI says widening due to higher trade deficit, lower surplus in net services and decline in private transfer receipts

current account deficit

Here is the best of Business Standard's opinion pieces for today

Trade talks

According to Ravi Nathani, an independent technical analyst, one should adopt a 'Buy on Dips' strategy for Nifty Private Bank index, while a 'Sell on Rise' strategy in case of the PSU Bank index.

markets, stocks, stock call, buy, sell, trading ideas, buy sell ideas

Former bureaucrat Amit Khare was on Monday given extension as advisor to Prime Minister Narendra Modi, a Personnel Ministry order said.
He was appointed to the post for two years in October 2021.
Khare, a 1985-batch (retired) Indian Administrative Service (IAS) officer of the Jharkhand cadre, had superannuated on September 30, 2021. He last served as the higher education secretary.
The Appointments Committee of the Cabinet (ACC) has approved the extension in Khare's tenure, on contract basis on the usual terms and conditions as are applicable in the case of re-employed officers of secretary-level in the government of India, beyond October 12, 2023 for a period "co-terminus with the term of Prime Minister", the order said.
In another order, the ACC has approved the extension in tenure of Rajesh S Gokhale as secretary, Department of Biotechnology, for a period of two years -- with effect from November 1, 2023.

Amit Khare

NGOs registered under the Foreign Contribution Regulations Act (FCRA) will now have to provide details of moveable and immovable assets created by them using foreign funds.
The need for mandatory declaration of assets by the NGOs by the end of every financial year (March 31) came after the Ministry of Home Affairs (MHA) on Monday issued a gazette notification modifying the rules that govern the NGOs which receive foreign funding.
According to the law, all NGOs receiving foreign contributions have to be registered under the FCRA.
The MHA made the changes in the Foreign Contribution Regulation Rules, 2010, by inserting two clauses -- (ba) details of movable assets created out of foreign contribution (as on March 31 of financial year) and (bb) details of immovable assets created out of foreign contribution (as on March 31 of financial year) -- in Form FC-4.
Form FC-4 is filled by NGOs and associations granted FCRA licences for filing their annual returns.
The MHA also decided to exte

Foreign funds

The Biden administration announced Monday that it is offering a $2 billion loan to Poland, which has been a hub for weapons going into Ukraine, to support the ally's defense modernisation.
The State Department said in a statement that Poland is a stalwart ally of the U.S. whose security is vital to the collective defense of NATO 's eastern flank, and that such funding is reserved for Washington's most important security partners.
The U.S. government is also providing Warsaw up to $60 million for the cost of the loan in Foreign Military Financing (FMF) which would support urgent procurements of defense articles and services from the United States, the State Department said. The $60 million is a loan subsidy meant to ensure that Warsaw can secure favourable terms for the loan.
Poland has been a staunch supporter of Ukraine since Russia's full-scale invasion of the country, handing over large numbers of its own tanks, fighter jets and other equipment. It has also been a hub for most of

poland flag

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Is inflation hurting FMCG companies' pockets? Can Indian e-gaming survive the tax demand? Is it time to book profit in real estate stocks? Why has the Cauvery dispute flared up again? Answers here

A (then) pan-masala chomping man notorious for putting down management theories, strategic thinking, and all the stuff that agencies thought was going to save them

Piyush Pandey

Tata Steel on Thursday said it has signed an agreement with Indian Oil Corporation Limited and its business associate to further reduce carbon footprint at its Ferro Alloys plant.
The agreement encompasses LPG supply, installation of LPG facilities, and the operation and maintenance of the same at the company's Ferro Alloys Plants in Gopalpur of Ganjam and Athagarh of Cuttack districts in Odisha, the steel major said in a statement.
Tata Steel has decided to transition from Furnace Oil and High-Speed Diesel to a more sustainable fuel option - Liquified Petroleum Gas (LPG) in response to the pressing environmental concerns and the global imperative to reduce carbon emissions.
This eco-friendly move is expected to bring about a considerable reduction in carbon emissions, it said.
Tata Steel's Ferro Alloys and Minerals Division Executive-In-Charge Pankaj Satija said, "The agreement, which is a part of our sustainability initiatives, will help us in reducing the carbon footprint at our

tata steelwork, tata, tata group

Normal life is likely to be affected, especially in the southern part of the state, with pro-Kannada and farmers' organisations calling for Karnataka Bandh' on Friday to protest the release of Cauvery water to Tamil Nadu.
Kannada Okkuta', an umbrella organisation for Kannada outfits including factions of Karnataka Rakshana Vedike, Kannada Chalavali (Vatal Paksha) and various farmers' bodies have given a call for the statewide dawn-to-dusk shutdown.
There will be a massive protest procession from Town Hall to Freedom Park in the city, in which people from all walks of life are likely to participate, the organisers said.
They have said that the bandh is for the entire Karnataka and that they will try to shut highways, toll gates, rail services, and also airports.
The opposition BJP and JD(S) too have extended their support to the bandh, as also hotels, autorickshaws and hail riders associations in Karnataka.
"Autorickshaw Drivers' Union and Ola Uber Drivers and Owners' Association .

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India's top 75 brands have a combined brand value of $379 billion, a decline of 4 per cent from 2022

Indian Army's Regiment of Artillery is looking to use the expertise of Indian Industry to produce 155 mm/52 calibre Towed Gun System

Dwarka Expressway

Dwarka Expressway: Potential to house tallest buildings in Delhi NCR

Highway ministry likely to respond to CAG concerns on Expressway costs

Govt saved 12% cost in awarding Dwarka Experssway project: Report

AAP protests at Dwarka Expressway over irregularities flagged by CAG report

Modi govt broke all records of corruption: Kejriwal on Dwarka Expressway

Portion of under-construction Dwarka Expressway collapses, man dies

Dwarka Expressway will be completed by April 2024, says Nitin Gadkari

Stuck in traffic jams in Delhi? Here is what's slowing down the capital

Elan Group raises $60 mn from PAG for construction of realty projects

Dwarka Expressway to be operational in 2023: Road transport minister

Gurugram building collapse: Builder to conduct structural audit of project

NHAI suspends key personnel of L&T, AECOM after Dwarka Expressway mishap

NHAI committee to probe Dwarka Expressway flyover collapse

Flyover on Gurugram-Dwarka Expressway collapses, 3 workers injured

RInfra to pull out of Dwarka Expressway; project may get delayed