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Average delays of more than three years mean large cost overruns for the country

logistics

India will spend a whopping 1.7 per cent of its GDP on transport infrastructure this year -- around twice the level in America and most European countries -- a feat that has been noticed even by The Economist which called it 'eye-watering' upgrade that will set stage to achieve a USD 5 trillion economy.
Prime Minister Narendra Modi's government has hiked capital outlay on infrastructure to USD 122 billion for the fiscal year starting April as it looks to provide a strong impetus to job creation and boost economic activity amid a global slowdown.
According to official data, the Modi government has allocated Rs 2.4 lakh crore for railways capital expenditure, nine times higher than the amount in the financial year 2013-14. The funds will mostly be spent on building tracks, new coaches, electrification, and developing facilities at stations.
Allocation for roads has jumped 36 per cent to Rs 2.7 lakh crore for 2023-24. There is also the focus on reviving 50 additional airports, heliport

economy, roads, construction

The road transport and highways sector has the maximum number of delayed projects at 358, followed by railways at 111 and the petroleum sector at 87, showed a government report.
In the road transport and highways sector, 358 out of 769 projects are delayed. In railways, out of 173 projects, 111 are delayed, while in the petroleum sector, 87 out of 154 projects are running behind schedule, as per the latest flash report on infrastructure projects for November 2022.
The Infrastructure and Project Monitoring Division (IPMD) is mandated to monitor central sector infrastructure projects costing Rs 150 crore and above based on the information provided on the Online Computerised Monitoring System (OCMS) by the project implementing agencies.
The IPMD comes under the Ministry of Statistics and Programme Implementation.
The report showed that the Muneerabad-Mahaboobnagar rail project is the most-delayed project. It is delayed by 276 months.
The second-most delayed project is the ...

Autos, Karnataka auto

Ride-hailing giants Ola and Uber are challenging order by States to ban autorickshaw rides through companies' apps; in the meanwhile alternative government-backed taxi/auto aggregators are coming up

chart

The incentive scheme helps put green transportation on a par with ICE vehicles

Nord Stream

Nord Stream 1 is the biggest pipeline transporting cheap natural gas between Russia and Europe via Germany

Chart

The development comes at a time when the shipping ministry stares at under-utilisation of assets since there has been slow progress on road and railway connectivity projects

Nitin Gadkari

Accidents can be avoided in Kashmir, Himachal Pradesh, Uttarakhand, says union minister

L&T, larsen and toubro, larsen and toubro

Larsen & Toubro (L&T) on Tuesday said its transportation infrastructure business has secured various orders from prestigious clients.
The company did not provide the value of the contracts, but said the orders fall under the "significant" category, which ranges between Rs 1,000 crore and Rs 2,500 crore according to the classification of contracts.
The business has secured an order from the Tamil Nadu Road Infrastructure Development Corporation to construct the Chennai Peripheral Ring Road EPC-02 package of section-II in the engineering, procurement and construction (EPC) mode.
The scope of work broadly includes constructing a six-lane greenfield highway of 12.80 kms with flexible pavement, two-lane service roads and paved shoulders on both sides of the carriageway, at-grade intersections, major/minor bridges, vehicular/light vehicular/ small vehicular underpasses, and culverts followed by maintenance for seven years, L&T said in a statement.
The railways business unit ...

Flipkart

Meru to deliver essential goods to Flipkart customers in Ozone sanitized cabs across Delhi NCR, Bengaluru and Hyderabad

cow, strawberries

The sudden drop in demand is hurting millions of farmers in the world's second-most populous country

Infrastructure projects, infra sector

Currently, linear infrastructure firms participate in highway construction and their share in the overall road construction mix is 25 per cent

Representative Image. Photo: Shutterstock

'Highways for power' will be essential because of gradually rising incomes and the consequent increase in energy consumption, as well as more points of consumption

The stock price of GVK Power & Infrastructure was locked in the 5% upper circuit for the eight day, trading at its highest level since September 2018 on the BSE

Sensex, Nifty, stock brokers

Analysts at Jefferies, believe that the time is ripe to buy Eicher Motors given alleviating competitive concerns, along with tailwinds of 2W demand recovery, industry premiumization and exports.

Eicher Motors, motorcycle ,Royal Enfield, Royal Enfield bikes,

His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm

Reliance Industries chairman Mukseh Ambani and Nita Ambani's children, left to right, Akash, Isha and Anant Ambani. PTI: Photo

Isha, Akash and Anant Ambani

Stocks to watch on Tuesday, September 26, 2023: Shares of bank, mainly state-run, are likely to be in focus amid reports that the government may spend up to Rs 60,000 crore to provide subsidised loans

stock market, markets, trading, nse, bse, sensex, nifty, rally, coronavirus, covid, lockdown

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

He also underlined the Government's commitment to improving the ease of doing business in India, making it easier to start and run businesses

Union Minister Piyush Goyal

Lavrov accused the West of trying to force themselves as mediators between the two countries, which he said was not needed

Russian Foreign Minister Sergei Lavrov speaks at a press conference, during the G20 summit, in New Delhi, Photo: Reuters

In all Indian team will be active in 18 sports throughout the day. India could also their medal's account on September 24

Asian Games 2023, Asian Games Hangzhou 2022

The organisation said that 41 million people in Afghanistan face severe food insecurity at an alarming level

A UNHRC representative carrying aid. The economic downturn has driven millions into poverty and even hunger

Afghanistan, Aid to Afghan

Pope Francis has labelled the weapons industry as being a key driver of the martyrdom of Ukraine's people in Russia's war, saying even the withholding of weapons now is going to continue their misery.
Francis appeared to refer to Poland's recent announcement that it is no longer sending arms to Ukraine when he was asked about the war during brief remarks to reporters while returning home from Marseille, France.
Francis acknowledged he was frustrated that the Vatican's diplomatic initiatives hadn't borne much fruit. But he said behind the Russia-Ukraine conflict was also the weapons industry.
He described the paradox that was keeping Ukraine a martyred people  that at first many countries gave Ukraine weapons and now are taking them away. Francis has long denounced the weapons industry as merchants of death, but he has also asserted the right of countries to defend themselves.
I've seen now that some countries are pulling back, and aren't giving weapons, he said.
This will start a 

Pope Francis

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

Could WhatsApp become India's first super app? Why are Chinese electronics brands losing market share? What does the India-Canada rift mean for markets? What is OCI card? All answers here

TMSEp528: Super-app WhatsApp, Chinese TV market, OCI cards and more

Shree Renuka Sugars on Tuesday said it has entered into an agreement to acquire a 100 per cent stake in Anamika Sugar Mills for Rs 235.5 crore.
Renuka Sugars is one of the leading sugar firms in the country.
In a regulatory filing, Shree Renuka Sugars informed that it has "entered into a binding agreement i.e., the Share Purchase Agreement, dated 26th September 2023, with Anamika Sugar Mills Pvt Ltd for acquisition of 100 per cent of the equity shares of Anamika".
The company intends to establish a presence in Uttar Pradesh, one of the largest sugar-producing states, and to cater to the markets of north and east India.
"Acquisition of Anamika would enable the Company to gain access to existing sugarcane catchment area with a significant reduction in lead time for setting up the plant in Uttar Pradesh and easy access to skilled/unskilled labour," it added.
The company said it might expand and modernise the plant.
Anamika will become a wholly-owned subsidiary of the company.
Shree

Sugar

Competition Commission of India (CCI) on Tuesday cleared Carlsberg Breweries' proposed acquisition of an additional 33.33 per cent stake in Carlsberg South Asia Pte Ltd.
The deal has been cleared under the green channel route.
The proposed transaction entails Carlsberg Breweries A/S (CBAS) buying an additional 33.33 per cent of equity share capital (on a fully-diluted basis) in Carlsberg South Asia Pte Ltd (CSAPL).
CBAS is involved in the business of manufacturing, marketing, and distributing alcoholic beverages under numerous brands worldwide.
The company is present through Carlsberg India Pvt Ltd (CIPL) and does not have any other direct or indirect business presence in the country.
CSAPL is the holding company of South Asian Breweries Pte Ltd, Singapore, which, in turn, is the holding company of CIPL.
"There are no horizontal overlaps, vertical/complementary links between the activities of the parties and their respective groups/affiliates," CCI said.
"The proposed transactio

carlsberg

Around 250 passengers had to wait inside an Air India aircraft for more than three hours at the Mumbai airport on Tuesday evening as the plane suffered a technical glitch, according to sources.
The Dreamliner aircraft was stranded on the taxiway for a long time and later towed to the parking bay.
A passenger onboard the aircraft told PTI that the flight, which was scheduled to take off at around 4 pm, was delayed, and finally, passengers boarded at around 5:30 pm.
There was no proper briefing by the crew except for the message that there was a technical glitch. The passengers were inside the plane for more than three hours, and there was also no clarity about alternative arrangements, the passenger said.
Sources at Air India said the aircraft suffered a technical glitch soon after pushback and was on the taxiway before it was towed to the parking bay. There were around 250 passengers onboard the plane, they added.
They said passengers have been deboarded, and after thorough checks

Airports, nearby areas may not get 5G network services anytime soon

Airlines, airport, aviation, flights

Cosmos would have 170 branches in seven states across India

Transportation infrastructure

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As Uber, Ola continue tussle with state govts, cabbies try different route

FAME II scheme helps put EV transportation on a par with ICE vehicles

What is Nord Stream 1 pipeline, and why is it critical for Europe?

Transporters may have to shell out more for toll on new port roads

Gadkari seeks environment ministry's approval to build wider hill roads

L&T's transportation infrastructure business bags 'significant' contracts

Flipkart, cab operator Meru join hands to deliver essential products

Cattle fed broccoli, strawberries as lockdown in India hits supply chain

Linear infra firms eye road deals as railway, power projects dry up

The challenges & the driver for 21st-century 'highway' infra in India