The pace of highway construction has gathered momentum to reach at an average of 18.23 km/day till January-end of the current fiscal compared with 16.6 km/day in the 2015-16 fiscal.
Mineral-rich Jharkhand has received a whopping R3.04 lakh crore investment proposals, mainly from the mines, energy and urban development sectors, in its maiden global investors’ summit held in Ranchi.
Captains of India Inc on Thursday committed fresh investments to the tune of R55,000 crore in mineral-rich Jharkhand at the state’s maiden Global Investors’ Summit being held here.
Hailing the Raghubar Das government’s initiatives to gain investors’ attention in Jharkhand and its economic development programme, finance minister Arun Jaitley on Thursday said the state’s annual GSDP growth could exceed the national GDP growth rate by 4-5 percentage points.
Steel secretary Aruna Sharma told FE: “There will be no outright sale but steps will be taken for better management and running of the steel plant. However, it is too early (to take a call) and the plant is yet to be completed.”
Enthused by better returns from its investment in the equity exchange traded funds (ETFs), the EPFO is set to enhance its stock market exposure to 15% of its incremental deposits, or an estimated R19,500 crore, in FY18, from 10% now.
Flagging the need for abolition of import duties on coking coal and metal scrap, both scarce material in the country, steel ministry has written to the finance ministry, requesting it to reconsider the proposals overlooked in the Budget.
Even though it hasn’t yet got the Opposition to agree to the agenda, at least one of the two important Bills in this regard will be pressed in the ongoing Budget session.
Left-wing extremism in Chhattisgarh’s Bastar and Dantewada districts, which has been on a perceptible decline in recent years, could regain ferocity if the Centre goes ahead with a plan to privatise the under-construction, R15,525-crore steel plant of public-sector NMDC at Nagarnar, the state government has warned.
The list of 173 was pruned to 66 in August for continuation for two months, but the government continued with the number in October giving MIP extension on these products for another two months.
The government’s series of initiatives to rein in rising imports have started bearing fruits as India became a net exporter of steel in January with exports of 0.9 MT vis-à-vis imports of 0.6 MT, Joint Plant Committee (JPC) data showed.
The 12% jump in budgetary allocation is expected to give the highways sector a boost
Even as the pace of highway construction at 17 km per day till December this fiscal remains a far cry from the 41 km-per-day goal set by his ministry, minister of road transport and highways Nitin Gadkari is undeterred and has retained the target for the 2017-18 fiscal.
While labour reforms have not made much progress so far, the government may move quickly to enable establishments employing up to 300 workers to lay off employees without government approval.
Barring railways, total allocation for infra sector has been budgeted at `2.75 lakh crore for 2017-18, up 16%.
ICVL acquired 65% stake in the Benga mine and two green-field coal assets (Tete East and Zambeze) in 2014 from Rio Tinto.
State-owned steelmaker Rashtriya Ispat Nigam Ltd (RINL), having completed its 3.3 mtpa expansion at an investment of around Rs 12,300 crore, is about to add another 1 mtpa capacity at a cost of Rs 4,000 crore.
n Loan taken for 30 years at 7.2% interest raises authority’s total borrowings to R23,520 cr so far this fiscal
For the second year in a row, India remained as the third largest steelmaker in the world, behind China and Japan, even as it clocked the highest production growth rate among the major steelmakers in 2016.
The passage of the Payment of Wages Ordinance, which seeks to enable employers to pay wage through cheque or by crediting it to bank account, will remain a priority
Immediately after assuming office, the present dispensation took up the long-pending labour reform initiative proposing to amalgamate 44 existing labour Acts into four codes with the aim of simplifying them and ensuring a conducive and harmonious environment for doing business.
While the work on sprucing up its technology-enabled services is still underway, Employees’ Provident Fund Organisation (EPFO) has launched a massive enrollment programme with the broader aim of universalisation of the scheme for all eligible workers.
The government wants PSUs under the steel ministry such as SAIL and NMDC to divest their non-core assets and concentrate on their core competencies.
Govt has sought `15,000-cr dividend from Hind Zinc
Centre looks to enhance production capacity to 300 million tonne by 2030-31
India’s steel industry clocked a handsome 10.5% growth in production during the April-December period of the current fiscal, riding on a sharp rise in output by all major producers such as SAIL, Tata Steel and JSW Steel.
Given the rising incidences of road accidents and consequent injury and death, road transport and highways minister Nitin Gadkari is keen that the Motor Vehicles (Amendment) Bill, which proposes stringent punishment for offenders, is passed in the next session of Parliament.