• Mon, Oct 21, 2019
  • As many as 360 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.88 trillion owing to delays and other reasons, a report said.
    360 infra projects show cost overruns of Rs 3.88 trillion: Report
    The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of these 1,608 projects, 360 reported cost overruns and 550 time escalation. “Total original cost of implementation of the 1608 projects was Rs 19,17,796.07 crore and their anticipated completion cost is likely to be Rs 23,05,860.33 crore, which reflects overall cost overruns of Rs 3,88,064.26 crore (20.23% of original cost),” the ministry’s latest report for June 2019 said. According to the report, expenditure incurred on these projects till June 2019 stood at Rs 9,35,021.39 crore, which is 40.55 per cent of the anticipated cost of the projects. However, it said the number of delayed projects decreases to 474 if delay is calculated on the basis of latest schedule of completion. Further, it said that for 644 projects...
  • ‘Will prepare blueprint for firms that are looking beyond China’ ‘Will prepare blueprint for firms that are looking beyond China’

    Union Finance Minister Nirmala Sitharaman recently said she would prepare a blueprint for international companies that are looking beyond China to make India as their preferred investment destination.

  • Thomas Cook domestic leisure biz growing at 25 per cent Thomas Cook domestic leisure biz growing at 25 per cent

    Travel major Thomas Cook India Ltd (TCIL) has said that its domestic leisure business is growing at a CAGR of 25 per cent, exceeding the rate of growth of its outbound travel segment.

  • Musk gone offline, funny posts online Musk gone offline, funny posts online

    It has been a couple of days since SpaceX CEO Elon Musk, who has courted several controversies with his tweets in the past, has gone offline without citing any reason, leaving his fan and followers...

  • Amazon, Flipkart must reveal top 5 sellers: Govt Amazon, Flipkart must reveal top 5 sellers: Govt

    E-commerce giants Amazon and Flipkart have been asked to disclose names of top five sellers on their platform, price list of goods of preferred vendors and the kind of support provided to sellers,...

  • FPIs bullish on India, pump in Rs 5,072 cr in Oct FPIs bullish on India, pump in Rs 5,072 cr in Oct

    Foreign portfolio investors (FPIs) have infused a net sum of Rs 5,072 crore into the Indian capital markets in October so far amid the government’s efforts to revive domestic demand.

  • New GST return forms may force firms to change ERP systems New GST return forms may force firms to change ERP systems

    The new Goods and Services Tax (GST) returns from April 2020 that mandate providing more details may require companies to amend their enterprise resource planning (ERP) systems.

  • DPIIT sends queries to Amazon, Flipkart on FDI norms adherence DPIIT sends queries to Amazon, Flipkart on FDI norms adherence

    The questions are concerned with their fund flow, business model and inventory management, people in the know of things said, adding that it also asks the names of their respective top five sellers...

  • Reliance Jio adds 1.85 lakh Kolkata subscribers in August Reliance Jio adds 1.85 lakh Kolkata subscribers in August

    Telecom operator Reliance Jio has added 1.85 lakh subscribers in August in the city, a company statement said.

  • Countries must deploy structural tools for growth: FM Countries must deploy structural tools for growth: FM

    Nirmala SItharaman asked the IMF to evolve a policy framework to assess the vulnerability of fragile economies to capital flows.