As many as 373 infrastructure projects, each worth Rs 150 crore or more, are hit by cost overruns of more than Rs 3.89 lakh crore owing to delays and other reasons, according to a report.
The upcoming International Airport at the Jewar township of Greater Noida is expected to be a growth catalyst for the region, say industry analysts, as the project is expected to create urban infrastructure and generate jobs.
Gadkari also asked all MPs to remain aware about road projects in their respective constituencies and help in resolving problems coming on the way of constructing roads and bridges.
Japan's involvement in Northeast India and its plans to expand its footprint in the region figured high at the ministerial dialogue held among the defence ministers and foreign ministers of the two countries on November 30.
Gurgaon based developer, M3M, signed an agreement with the Swedish company to develop 165 acre smart city project which will attract a foreign investment of around US$ 2 billion. The smart city will take 7-10 years to complete and will look for foreign investments for different services.
Road accidents in India claimed over 1.5 lakh lives in 2018, a recent report by the transport ministry revealed. India ranks 1st in the number of road accident deaths across the 199 countries reported in the World Road Statistics, 2018, followed by China and the US. As per WHO, India accounts for almost 11% of the accident related deaths in the world.
Maha just joined Andhra in the list of states where political whim is about to set progress back by years.
The industrial and warehousing sector in India has attracted significant investor interest since 2017 led by robust demand from e-commerce and other consumer-led occupiers.
The central government is invested into a 50,000 crore rupees project for Delhi's congested roads. Clearing the congestion will help reduce pollution in city and the government has found a solution for projects which were delayed because of land acquisition, clearances and other issues.
The Committee of Jaypee Creditors met NBBC and Suraksha representatives for several hours to discuss threadbare their takeover offers, before asking them to further revise the bids. They wanted NBCC to provide more land with clear title in lieu of its current offer of over 600 acres land that is under litigation and some unclaimed flats.
The highways ministry was planning to award road construction projects worth over Rs 500,000 crores over the next three months to boost demand in the construction and automobile sector, Gadkari had said. National Highway projects with a cumulative length of 5,493 km were awarded in 2018-19, Gadkari said.
“The investment will transform availability and quality of infrastructure at airports, roads, highways, railways, ports... All infrastructure-related sectors (aviation, shipping, electricity, and oil & gas) are going to see a huge thrust in the next five years,” Goyal said at an awards ceremony organised by the India Trade Promotion Organisation here.
States will have to more than triple their contributions from the current decade to meet the $3-tn infra goal.
India needs to spend a total of Rs 235 lakh crore spend on infrastructure over the next decade and states will have to step up their contribution from around 41% of the overall infrastructure spending in the current decade. This requires gross domestic product (GDP) growth rate of 7.5% and infrastructure spending of above 6.0% of GDP.
The agency said for the country-wide infrastructure, required spending will be Rs 235 lakh crore over the next decade, and called for average GDP growth of 7.5 per cent and infrastructure spending of above 6 per cent of GDP to help achieve this.
It can be noted that NHAI has been facing funding and cash flow issues leaving many of its projects stalled. The national road builder's debt has risen eight times between fiscals 2014 and 2019 to Rs 1.8 lakh crore, primarily due to spiralling land cost which generally makes up 30-35 percent of a project cost.
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