As many as 347 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.2 lakh crore owing to delays and other reasons, a Ministry of Statistics and Programme Implementation report said. The ministry monitors infrastructure projects worth Rs 150 crore and above. “Total original cost […]
Day: February 25, 2019
Second round of auction for road monetisation scrapped on low bids
The government has cancelled the second round of auction for road monetisation after companies offered low bids. The Union government had offered eight stretches of highways under the toll-operate-transfer (TOT) model in August 2018. Bids were opened in December 2018 where Cube Highways emerged the winner by quoting Rs 4,612 crore, way below the base […]
IL&FS bond toxicity spreads rapidly, hits 4.7 million PLI policy holders
The IL&FS bond toxicity contagion is spreading rapidly. The virus has now spread to a rather large body of savers, in this case insured, which coming as it does just before the general election is not good news for the government. With a concerned Trinamool Congress top gun and West Bengal Chief Minister Mamata Banerjee […]
EPFO writes to Finance Ministry on exposure to crisis-hit IL&FS bonds
Concerned over its exposure to IL&FS bonds, the Employees Provident Fund Organisation (EPFO) has intimated the Ministries of Finance and Corporate Affairs and sought its help in protecting the retirement fund money of large numbers of people. “Letters have been written to the Finance Minister and also to Corporate Affairs,” Central Provident Fund Commissioner Sunil […]