Nine more cities to have bus rapid transit systemSeptember 25th, 2009 NEW DELHI - The government will build bus rapid transit (BRT) systems in nine more cities at an investment of Rs.4,500 crore, Urban Development Minister Jaipal Reddy said here Friday. "We are going to implement BRT in nine more cities with an estimated cost of Rs.4,500 crore under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) project," Reddy said while speaking at a programme here.
Excise tax collection up 22 percent in AugustSeptember 25th, 2009 NEW DELHI - India's excise tax collection in August rose 22.7 percent from the previous month, while customs duty collection improved meagrely from minus 30 percent in July to minus 28 percent last month, a senior government official said here Friday. "The industry is showing signs of revival.
Indian fan industry still reeling under slowdownSeptember 21st, 2009 KOLKATA - The Rs.1,600-crore Indian electric fan industry, hit badly by the economic slowdown last year, does not see any respite in the coming six to nine months, an industry player said here Monday. "Our domestic sales as well as exports suffered last year.
Jaipal Reddy claims land values have not been affected by recessionSeptember 17th, 2009 NEW DELHI - Urban Development Minister S Jaipal Reddy has said that land values have remained unaffected by the global recession and the urban land is still a source of financing. Talking to reporters here, Reddy said, "I found that in the year 2004, there was a certain value for one acre of land and in 2006-07, that value went up by 25-30 times."
"If that area had been recession hit, the value of land there wouldn't shoot up," he added.
Govt. to pay for 20 per cent cost of mega development projects under PPP modelAugust 19th, 2009 NEW DELHI - Union Urban Development Minister S. Jaipal Reddy on Wednesday said the government is ready to offer 20 percent of the cost of mega development projects if taken up as a public-private partnership (PPP).
Delhi Metro wasn't operating under any pressure, says Jaipal ReddyJuly 13th, 2009 NEW DELHI - Union Minister for Urban Development Jaipal Reddy on Monday refuted accusations that the metro rail mishap was a result of the Delhi Metro Rail Corporation (DMRC) pushing to complete the rail project ahead of the Commonwealth Games 2010 deadline. Speaking in Parliament, Reddy said the Delhi Metro wasn't operating under any pressure to meet the deadline.
Decision on Sreedharan's resignation Monday, says ReddyJuly 12th, 2009 NEW DELHI - The central and Delhi governments are likely to decide on Delhi Metro Rail Corporation (DMRC) managing director E. Sreedharan's resignation Monday, Urban Development Minister S.
UPA Govt. plans to offer modern facilities in 28 citiesJune 29th, 2009 NEW DELHI - The Centre is preparing to provide modern facilities in 28 more cities in addition to the existing 65 cities under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) in the first 100 days of the UPA government. "Infrastructure will also be developed in small and medium towns.
Jaipal Reddy proposes cut in home loan ratesJune 16th, 2009 NEW DELHI - Urban Development Minister Jaipal Reddy Tuesday sought to boost affordable housing, proposing an interest rate of 7.5 percent on loans for houses costing between Rs.5 lakh and Rs.30 lakh. The proposal was made at a pre-budget discussion with Finance Minister Pranab Mukherjee.
IT hardware industry wants relaxed taxation in budgetJune 3rd, 2009 NEW DELHI - Indian IT hardware industry has called for parity in the countervailing duty (CVD) and service tax, levied on IT hardware products, in a pre-budget memorandum submitted to Finance Minister Pranab Mukherjee. It is strongly recommended that the rate of service tax be aligned to that of the excise duty/CVD to avoid structural anomalies, the Manufacturers' Association for Information Technology (MAIT) said in a statement Wednesday.
Delhi buses to ply till midnight on polling dayMay 5th, 2009 NEW DELHI - Buses in the national capital will ply from 3.30 a.m. till midnight May 7 to facilitate travel for personnel on election duty as well as voters, the Delhi Election Commission said Tuesday.
Commercial vehicle makers pass on duty cut benefitsFebruary 26th, 2009 NEW DELHI - A day after the central government announced 2-percent excise duty cut, some of India's commercial vehicle manufacturers Wednesday slashed prices across their trucks and bus line-ups to pass on the benefit to consumers. 'We are passing on the full benefits of the excise duty reduction,' a spokesman for Ashok Leyland said, adding that this would 'bring prices down on average slightly more than Rs.16,000'.
Chidambaram urges companies to pass on tax cut benefitsFebruary 25th, 2009 NEW DELHI - Home Minister P. Chidambaram Tuesday said the 2-percent excise and service tax cuts announced by the government will boost production, and asked companies to pass on the benefits to consumers to 'stimulate demand'.
DTC: No shortage of CNG, buses running as usualJanuary 8th, 2009 NEW DELHI - The Delhi Transport Corporation (DTC) Friday clarified that there was no shortage of compressed natural gas (CNG) and it had run 100 more buses than usual. 'There is no shortage of CNG supply for our buses.
Urban ministry seeks changes in second stimulus packageJanuary 1st, 2009 NEW DELHI - The urban development ministry has asked for additional changes at the last minute to the second stimulus package, slated to be announced Friday, to make the package beneficial for the end-user. Last month, Commerce Minister Kamal Nath announced that the second stimulus package would attempt to include special provisions to help exporters and the real estate and infrastructure sectors.
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