Dilip Buildcon bags Rs 730 cr road project from NHAI

download (2).jpgSource: The Hindu Business Line, Jan 18, 2018

New Delhi: Highway developer Dilip Buildcon (DBL) today said it has bagged a road project worth Rs. 730 crore in Madhya Pradesh from NHAI. “The company has been declared L-1 bidder by the National Highways Authority of India (NHAI) for an engineering, procurement and construction (EPC) road project in Madhya Pradesh,” Dilip Buildcon said in a BSE filing.

The project is for construction of four laning from km 624.480 to km 653.225 (delinked stretch of Seoni-MP/MH border) of NH-7 in Madhya Pradesh.Shares of Dilip Buildcon were trading 1.32 per cent higher at Rs. 973 apiece on the BSE.

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India will set up $350-mn solar fund to start mobilisation under ISA

Source: Business Standard, Jan 19, 2018

New Delhi: In order to kick-start fund mobilisation under the International Solar Alliance (ISA), the central government will set up a $350-million solar development fund.Nine companies and banks have agreed to develop and finance various solar projects, which include a $1-billion partnership corpus of NTPC and CLP India to the ISA.

The fund was announced by R K Singh, Minister of Power and New and Renewable Energy, at the first ever outreach programme of the ISA in Abu Dhabi’s World Future Energy Summit (WFES) 2018.

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Govt to soon bring corporate governance norms at state-owned banks

Source: Business Standard, Jan 19, 2018

New Delhi: The government is planning to refresh the corporate governance norms for state-owned banks. The changed rules could be announced even before the Union Budget is presented, it is learnt.Improving the quality of credit appraisal at these banks is among the likely changes. The governance reforms, as an official put it, would bring in measures to track the performance of the executive-rank employees of the banks, intensively. The proposed steps would also respond to Moody’s criticism that reforms needed for efficiency and better operating performance were absent at public sector banks. Without such reforms, ‘’the sector would continue to represent a contingent liability to the sovereign’’, the second largest rating agency in the world had said last November. “From now instead of a hands-off approach, we intend to be hands-on,” said another officer, aware of the developments. According to him, other than wilful negligence, neglect of human resources had brought the state-run banks to their present state, especially in credit appraisal.

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Govt simplifies Make in India rules for defence firms, offers 50 projects

download (1).jpgSource: Business Standard, Jan 18, 2018

Chennai: The Ministry of Defence has released the second part of the simplified Make-II, the Make in India policy for the defence sector, in order to attract more private industries for manufacturing arms and ammunition.

It has also initiated a first of its kind industry meet in Chennai and launched a Defence Investor Cell to facilitate industry participation. Under the simplified form, the industry can approach the defence departments on its own with products and ideas, which will then be considered by the concerned defence agency.

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GST Council rejigs rates of 29 items, 53 services

downloadSource: The Economic Times, Jan 19, 2018

NEW DELHI: India announced a significant revamp of the goods and services tax (GST) framework, including cuts in the rates on 20-litre packaged drinking water, biodiesel, diamonds and precious stones, sugar candies, tailoring services, amusement parks and low-cost housing construction services. The total revenue loss on account of these cuts, which take effect on January 25, is pegged at Rs 1,000-1,200 crore.

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10 more Smart Cities to be announced soon: Hardeep Puri

Source: The Economic Times, Jan 16, 2018

The names of 10 more cities to be funded under the Centre’s flagship Smart City Mission will be announced soon, Union Minister Hardeep Singh Puri said today.

The housing and urban affairs ministry has till now announced the names of 90 cities that the government aims to help under the scheme.

Under the scheme, each city will get Rs 500 crore as central assistance for implementing various projects.

“The Smart Cities Mission is progressing at a brisk pace. Ninety cities have been selected so far.

The selection of 10 more cities will be announced shortly,” Puri, the Minister of State (Independent Charge) for Housing and Urban Affairs, said at an event here.

He said there were about 3,000 projects worth Rs 1,40,000 crore at various stages of implementation under the scheme.

E-commerce cos Amazon, Flipkart & Snapdeal seek more time to adopt MRP norms

Source: ETRetail.com, Jan 18, 2018

Online retail players such as Amazon India, Flipkart and Snapdeal have asked the government for more time to adhere to the new rules that mandate them to display maximum retail price and expiry details of packaged products sold on their platforms.

These platforms are still to fully comply with the January 1 deadline, and have informed government officials that they will need more time given huge inventories of their sellers.

“We issued letters to ecommerce companies in the first week of January to start complying with the rules. While some have not responded, many have responded stating that huge inventories need to be changed and hence they have requested for more time,” an official of the legal metrology division of the consumer affairs ministry said.

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