Government should lay emphasis on PPP to build infrastructure: Assocham
The Centre is able to spend less than 15 % of its entire expenditure budget on creating capital assets, an Assocham study has said while suggesting the government lay emphasis on PPP mode to build infrastructure such as roads, ports and airports.
It said to revive the country's economy, there is an urgent need to enhance basic infrastructure as otherwise manufacturing, services and the social sectors could suffer.
It said along with roads, ports and railways, Public-Private-Partnership (PPP) mode projects should be further explored in sectors like education and healthcare.
(Sources: Economic Times, Indiatimes, Press Trust of India, Zeenews, Times of India)
Seafood exports dip on falling prices
Declining prices, improved supply and economic turmoil in the overseas markets have pushed down the value of Indian seafood exports by 25-30 % this year although the quantity of shipments may have shown a nominal increase. Good production in foreign markets has pulled down the prices.
Southeast Asia was the largest buyer last year, accounting for 25% of the over $3.5 billion worth of marine products exports from India. Increased buying was prompted by a shortage in production, particularly the now-popular Vannamei shrimp variety.
(Sources: Economic Times, Indiatimes, Zeenews, IBNLive, NDTV)
Inflation, high fuel prices hurting 2 wheeler industry: ICRA
The extended bout of high inflation, rising fuel prices and firm interest rates, has now started hindering the growth run of the 2 Wheeler industry in India, says ICRA.. After a two-year period of strong 25%+ volume growth achieved in 2009-10 and 2010-11, the volume growth trajectory of the two-wheeler industry began its perceptible march down starting H2, 2011-12.
(Sources: Economic Times, Indiatimes, ICRA, Moneycontrol, Zeenews)
Gold prices recover in India, importers retreat
Gold importers in India, the world's biggest buyer of the metal, retreated on Wednesday as prices recovered from their lowest level in nearly two weeks.
The festival season is underway in India and will peak with Diwali and Dhanteras next month. Weddings also take place during this period.
The rupee, which strengthened on Wednesday, capped the upside in prices. The local currency plays an important role in determining the landed cost of the dollar-quoted yellow metal.
(Sources: Reuters India, Economic Times, Indiatimes, Hindu Business Line, Worldnews)
Ssangyong enters India with Rexton launch
South Korean carmaker Ssangyong Motor Co Ltd wants to make India its second largest export market, by taking advantage of parent company Mahindra and Mahindra Ltd's dominance of the country's booming SUV sector.
India is an untapped market for Ssangyong, which counts Europe and Latin America as its two largest export destinations. India's SUV market is growing rapidly as a result of a slew of new models, rising aspirations and purchasing power among drivers, and generous government subsidies on diesel fuel.
(Sources: Reuters India, the Hindu, Wall Street Journal, Zigwheels, Worldnews, IBNLive)
Kerala Cabinet decides to give Kochi metro work to DMRC
The decision to award the contract has been pending since the last eight months as some ministers and senior officers said global tender was must for carrying out such major infrastructure projects.
The state Cabinet has decided to entrust the Kochi metro rail work to the Delhi Metro Rail Corporation (DMRC) on a nomination basis.
The government was also keen to give mono rail projects in Thiruvananthapuram and Kozhikode to DMRC, which has already been appointed as consultants of Kozhikode mono rail, the Chief minister Oommen Chandy told media persons.
(Sources: Business Standard, the Hindu, Economic Times, Indiatimes, Moneycontrol)
Land Acquisition Bill cleared by Group of Ministers
Overcoming sharp differences, a Group of Ministers (GoM) today cleared the long-delayed controversial Land Acquisition Bill, paving the way for its introduction in Parliament in the forthcoming Winter Session.
The final draft of the bill now proposes consent of two-third of "land losers" (from whom land would be purchased) for acquiring land for public-private-partnership and private projects, sources said. It has no retrospective clause and instead there will be a cut-off date to be decided later, they said.
(Sources: Economic Times, Indiatimes, IBNLive, NDTV, Times of India, India Today)
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