India plans to develop roads overseas amid domestic shortfall
BY BLOOMBERG | UPDATED: MAY 11, 2017, 01.24 PM IST
India plans to develop roads in neighboring countries as it seeks to strengthen its position in South Asia amid the growing influence of China.
State-owned National Highways Authority of India plans to build roads abroad even as it falls short of construction targets at home and seeks to raise funds overseas to finance local projects.
“There are lots of offers for us,” India’s Transport Minister Nitin Gadkari said in an interview in New Delhi on Wednesday. The road-building authority, or NHAI, will bid for projects in nations that are part of the South Asian Association for Regional Cooperation and has begun talks with the Sri Lankan government, he added…(see more)
GST best bet for states to improve finances: RBI
The introduction of GST will have economy-wide ramifications and holds the “best bet” for state governments to improve their finances without cutting productive expenditure, the Reserve Bank said today.
The Goods and Services Tax regime is likely to champion a new course for cooperative federalism in India, focusing on collaboration between the Centre and states, it said.
“Introduction of GST would have economy-wide ramifications in terms of growth, inflation, government finances and external competitiveness over the medium-term,” RBI said in ‘State Finances: A Study of Budgets of 2016-17’…(see more)
MoUs Worth Rs 2 Lakh Crores Signed in the India Integrated Transport & Logistics Summit
Thirty-four MoUs amounting to about Rs 2 lakh crores were signed in the three day India Integrated Transport and Logistics Summit that was concluded in New Delhi today.
These MoUs were in the areas of port connectivity, Integrated Check Posts (ICP) in the states of Bihar, Uttarakhand, Uttar Pradesh, West Bengal, Manipur, access to land port in Tripura, Assam and Mizoram, development of Logistics Parks in Telengana, Andhra Pradesh, Karnataka, Madhya Pradesh, Assam, Gujarat, Mizoram, development and furthering of multi modal logistics parks in Mumbai and Bengaluru and Haryana, exploring investment opportunities in logistics sector, dredging of inland waterways, implementation of 79 port connectivity projects under Sagarmala, development of port roads to Chennai and Vishakhapatnam ports, and connectivity to airport in Navi Mumbai, among others.
Some of these MoUs are between Government agencies while others are between Government to Business and Business to Business…(see more)
Limit registration of petrol, diesel cars: NITI Aayog
India could save as much as $60 billion in energy costs by 2030 and one gigatonne of carbon emissions between 2017 and 2030 by adopting more electric and shared vehicles, according to a report released on Friday by the country’s leading think-tank.
The report on transformative mobility solutions by Niti Aayog, India’s policy commission chaired by Prime Minister Narendra Modi, provides a 15-year roadmap for electrification of vehicles in the country and is likely to form the basis for a new green car policy, sources had told Reuters.
The 134-page report suggests three major transitions – a shift from private vehicle ownership to shared usership, from petrol and diesel to electric vehicles and from cities designed for cars to cities designed for humans…(see more)