PM GatiShakti: 208 infra projects worth Rs 15.39 lakh crore recommended for approval
208 infrastructure projects worth Rs 15.39 lakh crore have been recommended under PM GatiShakti, enhancing coordination across ministries such as roads and railways. The initiative aims to streamline logistics costs through integrated planning, with substantial use of geospatial data and inter-ministerial collaboration. Key Points
Economic TimesRBI looks to soften blow of tighter infrastructure funding rules
RBI is considering a phased approach to increasing provisioning for project financing to ease the impact on lenders and protect profitability. projects nearing completion may receive some leniency. Despite pushback from lenders and the finance ministry, the RBI is committed to raising provisions to address risks in a sector known for delays, while avoiding cost escalations that could jeopardize project viability. Key Points
Economic TimesPM GatiShakti: Eight infra projects worth ₹13,000 crore evaluated
During the meeting, all projects were evaluated for their integrated planning and conformity with the PM GatiShakti principles. Emphasis was placed on the socio-economic benefits, improved connectivity, reduced transit costs and enhanced efficiency. The railways project, from Manmad to Jalgaon, involved an estimated investment of Rs 2,594 crore. The other project (from Bhusawal to Burhanpur) involve investments of Rs 3,285 crore. Key Points
Economic TimesInfrastructural projects helping improve India's relationship with Africa: Indian corporate executive
Indian infrastructure projects in Africa have significantly enhanced ties between the two regions, according to S Kuppuswamy, a senior executive from the Shapoorji Pallonji group. He emphasized the importance of collaboration between Indian and US development finance institutions to ensure the swift execution of such projects and to counter China's influence in the region. Kuppuswamy highlighted the pride African nations take in Indian-built infrastructure, citing examples like Ghana's presidential palace. Key Points
Economic Times443 infra projects hit by cost overrun of Rs 4.92 lakh cr in Feb
In February 2024, 443 infrastructure projects faced cost overruns exceeding Rs 4.92 lakh crore. A total of 764 projects were delayed, with reasons including land acquisition delays, COVID-19 lockdowns, and lack of infrastructure support. Key Points
Economic Times
Time and cost overrun in infra projects can impact GDP growth, efficacy of capital deployed, says report
780 of 1,821 central projects delayed as of January 2024, resulting in cost overrun of Rs 4.8 lakh crore or 1.6% of GDP Key Points
Business TodayUS home flipping malaise pinches reality TV stars to contractors
By Amina Niasse NEW YORK (Reuters) - While the increase in interest rates engineered by the Federal Reserve over the last two years put a damper on the overall U.S. housing market, it took a sledge Key Points
ThePrintprojects running behind schedule decline to 25-month low in February
In February, delayed central government projects declined to a 25-month low of 41.2%, while the cost overrun ratio dropped to a three-month low of 18.19%. With 1,902 projects monitored, 443 faced cost overruns and 764 experienced time overruns, with average delays exceeding 36 months for many projects. Railways and roads sectors were notably affected. Key Points
Economic TimesLithium Permit Freeze Limited to New Projects, Argentina Province Says
The Argentine province of Catamarca said a court ruling to halt the issuance of lithium permits only affects new projects, leaving companies such as Arcadium Lithium Plc and Posco Holdings Inc. free to continue producing the metal and developing existing projects. Key Points
mintNetwork Planning Group evaluates key infrastructure projects including Multi Modal Logistics Park in Mahar
The 67th NPG meeting assessed projects from MoRTH and MoR, including a Multi Modal Logistics Park in Maharashtra and a Broad Gauge line connecting Assam and Arunachal Pradesh. The meeting aimed to promote comprehensive regional socio-economic advancement in alignment with PM GatiShakti principles. Key Points
Economic Times
PM Modi unveils development projects of over Rs 4500 crore in West Bengal
Prime Minister Narendra Modi inaugurated and dedicated multiple developmental projects worth more than Rs 4500 crore in the rail and road sectors in West Bengal. He emphasized the central government's efforts for the development of West Bengal and highlighted the neglect of eastern India's development after independence. Key Points
Economic TimesCongress neglected Northeast, jeopardised security: PM Modi
Prime Minister Narendra Modi criticized the Congress, accusing it of prioritizing corruption over the development of border villages, which compromised the country's security. He emphasized his government's commitment to the northeast's development, inaugurating the Sela Tunnel in Arunachal Pradesh. Modi promised to visit the defence personnel at the tunnel in his next term. He highlighted the 'Vibrant Village Programme' and the commencement of road projects and tourism-related projects in numerous villages. Modi also inaugurated and laid foundation stones for various development projects in Manipur, Meghalaya, Nagaland, Sikkim, Tripura, and Assam. Key Points
Economic TimesPM Modi unveils projects worth Rs 55,600 crore in Northeast, including strategic Sela tunnel
The Sela tunnel, constructed at a cost of about Rs 825 crore, is an engineering marvel. It will provide all-weather connectivity to Tawang across Sela pass on the Balipara-Chariduar-Tawang Road in Arunachal Pradesh, a statement said. Key Points
Economic TimesSJVN bags 1,352 MW solar projects worth Rs 7,436 cr
SJVN Chairman and Managing Director Geeta Kapur informed that these projects of 1,352 MW will be developed at various locations in Maharashtra -- Nashik, Solapur, Ahmednagar and Pune under Mukhya Mantri Saur Krushi Vahini Yojana 2.0. Key Points
Economic Times'Our govt tries to rapidly complete projects': PM Modi unveils development initiatives worth ₹19,600 cr in Odisha
PM Modi inaugurated projects worth ₹39,600 crore in Odisha's Chandikhole and Jajpur. They include oil and gas, railways, road transport, and trade-related initiatives like CONCOR container depot. He also paid tribute to Biju Patnaik on his birth anniversary. Key Points
mintPM Modi dedicates, lays foundation stones of 7 SJVN projects worth Rs 5,515 crore
New Delhi, Mar 4 (PTI) Prime Minister Narendra Modi on Monday dedicated to the nation and laid the foundation stones of seven SJVN projects worth Rs 5,515 crore. The projects are located in Uttarakhand, Uttar Pradesh and Assam, according to a statement. The Prime Minister virtually dedicated four power stations, namely 60 MW Naitwar Mori […] Key Points
ThePrintCM Yogi to launch projects worth ₹1,007cr in Gorakhpur
On March 3, the chief minister would gift smart classes to 21 government secondary, five non-government and 141 secondary schools under projects Alankar with ₹25 crore. Besides giving away smartphones to 4,000 youths. Key Points
Hindustan Timesprojects running behind schedule declined to a 15-month low in January; cost overruns dip
In January, the percentage of central government projects facing delays reached its lowest point in 15 months, dropping to 42.8% from 46.6% the previous month, according to a report. Out of 1,821 registered projects, 617 were on time, 780 were delayed, 431 experienced cost overruns, and 255 had both time and cost overruns. The average time overrun for the 780 delayed projects was 36.13 months. Key Points
Economic TimesPM Modi to inaugurate, lay foundation stone for projects worth Rs 7,300 cr in Madhya Pradesh today
PM Modi to inaugurate projects worth Rs 7,300 cr in Madhya Pradesh, benefiting tribal communities. Initiatives include monthly food subsidies, land rights distribution, and modern school facilities. Additionally, water supply projects and rail infrastructure enhancements will be launched. Road development projects worth over Rs 3,275 crore will also commence. PM emphasizes the significance of these projects for Madhya Pradesh's development journey. Key Points
Economic TimesAs many as 431 infrastructure projects show cost overrun of Rs 4.82 lakh crore in December
A total of 431 infrastructure projects in India, with investments of over Rs 150 crore each, experienced cost overruns of more than Rs 4.82 lakh crore in December 2023, according to a report by the Ministry of Statistics and Programme Implementation. Out of 1,820 projects, 848 were delayed. Key Points
Economic Times
Kolte-Patil acquires two redevelopment projects in Mumbai Metropolitan Region
The two acquired projects are located in Dahisar and Versova. This has taken the company's footprint in MMR to a total of 15 housing projects. Key Points
Hindustan TimesNHAI to amend model concession agreement for BOT projects
The move is aimed at removing discrepancies in built-operate-transfer (BOT) projects and attract investments from the private sector as it aims to bid out 53 projects worth over Rs 2.2 lakh crore and covering a length of 5200 km under BOT. Key Points
Economic Times421 Infra projects hit by cost overrun of Rs 4.40 lakh crore in Nov
Total original cost of implementation of the 1,831 projects was ₹25,10,577.59 crore and their anticipated completion cost was ₹29,50,997.33 crore, which reflects overall cost overruns of ₹4,40,419.74 crore (17.54 % of original cost), the ministry's latest report for November 2023 said. Key Points
Economic TimesCapex mood sees revival in Q3, led by private sector: CMIE data
The investment mood improved in the December quarter, but remains weak since the same quarter a year ago. Analysts see a patchy outlook for now due to the looming Lok Sabha elections, but the overall trend is optimistic. Key Points
mint421 Infra projects hit by cost overrun of Rs 4.40 lakh crore in Nov
Total original cost of implementation of the 1,831 projects was ₹25,10,577.59 crore and their anticipated completion cost was ₹29,50,997.33 crore, which reflects overall cost overruns of ₹4,40,419.74 crore (17.54 % of original cost), the ministry's latest report for November 2023 said. Key Points
Economic Times
Cost overrun share rises slightly in November but stays below the 18% mark
In November, the cost overrun ratio in government infrastructure projects slightly increased to 17.5%, compared to the previous month's 17.4%, remaining below the 18% mark for the second consecutive month. The number of projects facing delays decreased to 46.1% from the previous month's 46.6%. The government tracked 1,831 projects in November, with 421 projects experiencing cost overruns Key Points
Economic TimesAdani Green Energy ranks among top 3 global solar PV developers
Adani Green Energy Limited (AGEL) has secured the second position among global solar PV developers, according to the Annual Global Report by Mercom Capital Group. AGEL's impressive performance and contributions to the renewable energy sector earned it this ranking, boasting a total solar capacity of 18.1 GW, covering operational, under-construction, and awarded projects. Key Points
Economic TimesGovt-backed SWAMIH returns 25% capital with 17 full, 29 partial exits with project deliveries
Designated as a category II alternative investment fund, it was introduced by finance minister Nirmala Sitharaman in September 2019. This initiative emerged in response to escalating worries about stalled projects adversely affecting homebuyers and posing potential risks to the banking system. Key Points
Economic Times8 textile parks, 129 pharma clusters mapped on PM GatiShakti National Master Plan: govt
In a recent development, the government revealed significant progress in key sectors aimed at boosting economic growth. The Ministry of Textiles disclosed that eight sanctioned PM Mitra Parks have been meticulously mapped on the PM GatiShakti National Master Plan (NMP) portal. This strategic move is expected to streamline the implementation of projects, fostering efficiency and coordination. Key Points
Economic Times411 infra projects show cost overruns of Rs 4.31 lakh crore in October, according to MoSPI report
Total original cost of implementation of the 1,788 projects was Rs 24,78,446.60 crore, and their anticipated completion cost is likely to be Rs 29,09,526.63 crore, which reflects overall cost overruns of Rs 4,31,080.03 crore (17.39 per cent of original cost), the ministry's latest report for October 2023 said. According to the report, the expenditure incurred on these projects till October 2023 was Rs 15,27,102.91 crore, which is 52.49 per cent of the anticipated cost of the projects. Key Points
Economic Times
Mission mode: Govt ups watch on Smart Cities
The central government is conducting monthly reviews of 35-50 smart cities to debottleneck projects by utilizing a robust management information system (MIS) for real-time tracking. The government expects to complete 1,600 of Smart Cities Mission projects by March-end. The 400 SCM projects, which will go beyond March, are being monitored on a real-time basis. Key Points
Economic Times411 infra projects show cost overruns of Rs 4.31 lakh crore in October, according to MoSPI report
Total original cost of implementation of the 1,788 projects was Rs 24,78,446.60 crore, and their anticipated completion cost is likely to be Rs 29,09,526.63 crore, which reflects overall cost overruns of Rs 4,31,080.03 crore (17.39 per cent of original cost), the ministry's latest report for October 2023 said. According to the report, the expenditure incurred on these projects till October 2023 was Rs 15,27,102.91 crore, which is 52.49 per cent of the anticipated cost of the projects. Key Points
Economic TimesCost overruns decline below 18% mark for the first time in nearly four years: MoSPI report
The government has reported a decrease in cost overruns in government infrastructure projects for the first time in nearly four years, dropping from 19.2% in September to 17.4% in October. The number of projects running behind schedule also decreased to 46.8% from 47.7% last month. Key Points
Economic TimesAs many as 417 infra projects show cost overruns of Rs 4.77 lakh crore in Sept: Official report
According to the report, the expenditure incurred on these projects till September 2023 is Rs 15,44,600.67 crore, which is 52.11 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased to 617, if delay is calculated on the basis of the latest schedule of completion. Key Points
Economic TimesPM Gati Shakti: Four infra projects worth Rs 23,500 crore recommended for approval
Four infrastructure projects, involving roads and railways with a combined cost of over Rs 23,500 crore, have been recommended for approval under the PM Gati Shakti initiative. These projects aim to enhance multimodal connectivity and were discussed in the 58th Network Planning Group (NPG) meeting. Key Points
Economic Times
PM Modi to launch development projects in Maharashtra, inaugurate National Games in Goa
Prime Minister Narendra Modi will launch a scheme in Maharashtra benefiting over 86 lakh farmers and inaugurate projects worth over Rs 7,500 crore. He will also travel to Goa to inaugurate the 37th National Games. In Maharashtra, Modi will visit the Shri Saibaba temple in Shridi and inaugurate its new darshan queue complex. Key Points
Economic TimesReport card on 2nd anniversary: PM Gati Shakti gives 'Gati' to ₹11.58 lakh cr infrastructure projects
As PM Gati Shakti completes two years on Friday, the Ministry of Commerce and Industry has prepared a performance report card outlining the significant improvement in ease of doing business and ease of living since its launch. As per the analysis, the initiative has significantly improved the ease of doing business by bringing down the pre-alignment finalisation time for infrastructure projects from three-four months earlier to one month now. Key Points
Economic TimesGovt aims to complete about 85 pc of road projects on time this fiscal: Highways secretary Anurag Jain
Around 85% of road projects in India are expected to be completed by the end of this fiscal year, according to Anurag Jain, Road Transport and Highways secretary. The government's efforts to expedite clearances and resolve issues have led to improved monitoring and faster project implementation. Jain highlighted the use of monitoring mechanisms, environment and forest clearances, and the Prime Minister's PRAGATI meeting as factors contributing to the progress. Key Points
Economic TimesOur govt has turned MP from a 'Bimaru Rajya' to top ten states: PM Modi
Training guns at the Opposition, the prime minister said that those who got 60 years could not bring development and always played with the sentiments of the poor. Hailing the state as a land of warriors, the PM asserted that the number of projects launched by the BJP in a year has never been done by any other party. Key Points
Economic TimesPM Gati Shakti: Six infra projects worth Rs 52,000 crore recommended for approval
Six infrastructure projects worth Rs 52,000 crore have been recommended for approval under India's PM Gati Shakti initiative. This brings the total number of projects assessed to 112, with a total value of about Rs 11.53 lakh crore. The projects were assessed in a recent meeting of the Network Planning Group, which meets regularly to appraise infrastructure projects and ensure comprehensive development. Key Points
Economic Times
River interlinking projects in India may aggravate water stress: Study
India's river interlinking projects, aimed at addressing droughts and floods, may worsen water stress and disrupt monsoon patterns, according to a study in Nature. The research used regional climate models and data analysis to examine the hydro-meteorological consequences of these massive infrastructure projects. The study found that inter-basin water transfer could affect land-atmosphere interactions, leading to changes in rainfall patterns. Key Points
Economic TimesAs many as 412 infra projects show cost overruns of Rs 4.77 lakh crore in Aug: Official report
According to a report by the Ministry of Statistics and Programme Implementation, 412 infrastructure projects in India, with investments of over Rs 150 crore each, have experienced cost overruns of more than Rs 4.77 lakh crore in August 2023. Out of a total of 1,762 projects, 830 were delayed. Key Points
Economic TimesSJVN Ltd shares jump over 7 pc on pact with PFC for Rs 1.18 lakh crore financing
Shares of power producer SJVN Ltd on Wednesday jumped over 7 per cent after the company said it has inked an initial pact with Power Finance Corporation (PFC) to get finance for its projects worth Rs 1.18 lakh crore. Key Points
The Tribune IndiaHomebuyers urge housing minister to blacklist builders whose projects are stalled for over 2 years
The Forum for Peoples Collective Efforts (FPCE), a pan-India homebuyers' body, has requested the Indian housing minister to blacklist builders whose projects are stalled or delayed for more than two years. They have also suggested that concessions and exemptions recommended by the Amitabh Kant Committee should only be applicable to legacy stalled projects. Key Points
Economic TimesLand acquisition, flyovers and tunnels raised Bharatmala cost: Official
The cost of highway projects under India's Bharatmala programme has risen above initial estimates due to the construction of wider highways and tunnels, as well as more expensive land acquisition, top Roads Ministry official said. TThis programme was approved by the Cabinet Committee on Economic Affairs (CCEA) in July 2017. Key Points
Economic Times
Cabinet approves 7 projects for Indian railways with an outlay of Rs 32,500 cr
Union Cabinet approves seven multi-tracking projects of Indian Railways, Union Railway Minister Ashwini Vaishnaw said at a briefing. The said projects will add 2,339 kilometres to the existing network of Indian Railways. A total of Rs 32,500 crore has been allotted to these projects. Key Points
Economic TimesG20 sherpa Amitabh Kant-led panel moots rehab package by states for stalled housing projects
In its several recommendations categorised under seven separate heads, the panel also recommended banks and financial institutions be permitted to finance fresh housing loans for new buyers purchasing unsold inventory in such stalled projects. This would ensure the flow of funds to stalled projects from the inventory of unsold flats. Key Points
Economic Times393 infra projects show cost overruns of Rs 4.64 lakh cr in June
Over 390 infrastructure projects with an investment of more than Rs 150 crore each have faced cost overruns totaling Rs 4.64 lakh crore in June 2023, according to a report by the Ministry of Statistics and Programme Implementation. Reasons for time overruns as reported by various project implementing agencies include delay in land acquisition, delay in obtaining forest and environment clearances, and lack of infrastructure support and linkages. Key Points
Economic TimesKKR-backed Highways Infra Frontrunner to win ToT 12 road asset
The projects have strong counter parties - NHAI for four projects and Ministry of Road Transport and Highways (MoRTH) and Madhya Pradesh Road Development Corporation (MPRDC) for one each, said a recent Crisil report. The toll road projects have a long tolling track record between 8 to 14 years, while the annuity projects have a track record of receiving 26 and 20 semi-annual annuities without any material deduction. Key Points
Economic Times