REC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan, to finance projects across power and non-power infrastructure sectors. Under this agreement, REC Limited will provide loans of up to Rs 20,000 crores annually for the next six years to various departments, undertakings, institutions and schemes of the Government of Rajasthan. With this MoU, there is expected to be a rapid increase in projects related to the state’s infrastructure sector, such as power projects, metros, roads & highways, airports, IT infrastructure, oil refinery, steel…
Author: Aruna Sharma
(Zee Business ) Power equipment major Bharat Heavy Electricals Ltd (BHEL) has secured a power plant engineering, procurement, and construction (EPC) order of over Rs 9,500 crore from NTPC Ltd. The order is for the Singrauli Super Thermal Power Project Stage-III (2×800 MW), in Uttar Pradesh. According to BHEL, the order won in international competitive bidding is for the supply of equipment like boilers, turbines, generators, and associated auxiliaries, along with electrical and control and instrumentation, balance of plant packages, and others. The scope of the order includes erection and commissioning and civil works. According to BHEL, the first 800 MW…
Chief Minister Yogi Adityanath congratulated the new ministers inducted into his cabinet on Tuesday and conveyed his best wishes to them. Taking to his official X handle, CM Yogi wrote: “Hearty congratulations to all the colleagues, who have taken oath as ministers in the Uttar Pradesh government today! We are confident that all of you will play an important role in realising the resolve of ‘Viksit Uttar Pradesh’ by bringing ‘Modi’s Guarantee’ to the ground. My best wishes to all of you for your bright tenure!” Governor Anandiben Patel administered the oath of office to the four ministers namely Omprakash…
The Yogi government has announced a big gift for farmers of Uttar Pradesh ahead of the Holi festival. In a Cabinet meeting chaired by Chief Minister Yogi Adityanath , it was decided to waive electricity bills of farmers with private tube wells with retrospective effect from April 1, 2023. The decision will benefit around 1.5 crore farmers of the state. The government has provided Rs 1800 crore in the 2024-2025 budget for implementation of the scheme. Furthermore, the government has put forth a proposal for a scheme aimed at assisting farmers with outstanding electricity bills predating April 1, 2023, in…
(Indian Express) In the backdrop of protests across Ladakh, the Centre is mulling granting Article 371-like protection to the Union Territory. Sources said during a meeting of the representatives of the region — Leh Apex Body and Kargil Democratic Alliance — with Union Home Minister Amit Shah , the minister told them that all their concerns about land, jobs and culture would be addressed through special provisions under Article 371 of the Constitution. Shah, sources said, made it clear that it would not be possible for the government to accommodate the region’s demand to be included in the Sixth Schedule of the Constitution.…
(NDTV) Amid the tug of war between Bengal Police and the Central Bureau of Investigation (CBI) over the custody of Sandeshkhali strongman Sheikh Shahjahan, Prime Minister Narendra Modi will address a meeting today at Barasat. Barasat is in the same North 24 Parganas district as Sandeshkhali, an island that has emerged as the biggest talking point in Bengal ahead of the Lok Sabha election. The Prime Minister’s event is expected to be attended by some women from Sandeshkhali, which has made national headlines over allegations of sexual harassment, land grab and extortion against local Trinamool leaders led by Shahjahan. The…
(PTI) Crisil Ratings projected India’s GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to USD 7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain — perhaps even improve — its growth prospects to become the third largest economy by 2031. “After a better-than-expected 7.6 per cent this fiscal, India’s real GDP growth will likely moderate to 6.8 per cent in fiscal 2025,” said the Crisil India…
(PTI) Union Home Minister Amit Shah said their government contained the inflation below 5 per cent while it had reached double-digit growth during the Congress-led UPA regime. Before 2014, the Indian economy was fragile, inflation was high and fiscal deficit was beyond control, Shah said at the India Global Forum’s annual investment summit NXT10 in Mumbai. Today, India has emerged as a policy-driven state, he said.
(PTI) Reserve Bank has directed banks to provide their eligible customers with an option to choose from multiple card networks at the time of issuing credit or debit cards, a move which will benefit card users. The central bank also asked issuers of credit cards not to enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks. “On a review, it is observed that some arrangements existing between card networks and card issuers are not conducive to the availability of choice for customers,” the Reserve Bank said in a circular.
(FE) Coal India is likely to come out with the initial public offer for its two subsidiaries Bharat Coking Coal Limited (BBCL) and the Central Mine Planning and Design Institute (CMPDI) in the financial year 2024-25, according to sources. Back in 2022, the company had said that its board had given an ‘in-principle’ approval to the divestment of 25% of paid-up share capital of BCCL and its subsequent listing on the stock exchanges. However, the subsidiary has so far not been listed. “It (the listing of BCCL, CMPDI) is under process. It may happen by the next financial year,” said…