Mumbai: Bangalore-based value-added services company OnMobile Global Ltd, which had entered into an agreement to acquire the business assets of Boston-based mobile entertainment firm Livewire Mobile for $17.8 million (around Rs 105 crore), has closed the transaction.
Livewire Mobile’s portfolio of mobile music and gaming solutions and its client base, including Sprint, US Cellular and Cricket, will combine with OnMobile’s American customer base, including AT&T, T-Mobile and Rogers, to establish a footprint at six of the top ten mobile operators in North America.
The new combined entity presents a single source solution for integrated value added services (VAS) that will cater to high value subscriber segments, including youth and upwardly mobile professionals.
With global mobile operators struggling to monetise mobile data beyond core data plans, the going would not be easy for the company, given the aggressive competition in the market.
However, Harry Wang, lead mobile analyst from international market research firm, Parks Associates, said that the mobile VAS market represents an attractive opportunity for operators, who need to find an efficient means to aggregate, package, distribute, and manage content and services in order to create a differentiated user experience.
Onmobile Global Ltd is a B2B digital VAS provider, providing mobile entertainment services for top telecom operators in Asia, Africa and Europe.
Success in my Habit
Tuesday, July 23, 2013
Foodgrain production estimated at 255.36 MT
Pulses Production Estimated at Record 18.45 MT
4th Advance Estimates Of Foodgrain Production for 2012-13 Released
New Delhi: The Government today released the 4th advance estimates of foodgrain production for 2012-13. As per the latest estimates, India has produced 255.36 million tonnes of foodgrains during 2012-13 compared to 259.29 million tonnes in the previous year.
The production estimates for major crops for 2012-13 are as follows:
Total foodgrains – 255.36 million tonnes
Rice – 104.40 million tonnes
Wheat – 92.46 million tonnes
Coarse Cereals – 40.06 million tonnes
Maize – 22.23 million tonnes
Pulses – 18.45 million tonnes
Tur – 3.07 million tonnes
Urad – 1.90 million tonnes
Moong – 1.20 million tonnes
Gram – 8.88 million tonnes
Oilseeds – 31.01 million tonnes
Soyabean – 14.68 million tonnes
Groundnut – 4.75 million tonnes
Rapeseed & mustard – 7.82 million tonnes
Cotton – 34.00 million bales (of 170 kg each)
Sugarcane – 338.96 million tonnes
MP:SS: BK:CP: fourth advance estimates (22.7.2013)
4th Advance Estimates Of Foodgrain Production for 2012-13 Released
New Delhi: The Government today released the 4th advance estimates of foodgrain production for 2012-13. As per the latest estimates, India has produced 255.36 million tonnes of foodgrains during 2012-13 compared to 259.29 million tonnes in the previous year.
The production estimates for major crops for 2012-13 are as follows:
Total foodgrains – 255.36 million tonnes
Rice – 104.40 million tonnes
Wheat – 92.46 million tonnes
Coarse Cereals – 40.06 million tonnes
Maize – 22.23 million tonnes
Pulses – 18.45 million tonnes
Tur – 3.07 million tonnes
Urad – 1.90 million tonnes
Moong – 1.20 million tonnes
Gram – 8.88 million tonnes
Oilseeds – 31.01 million tonnes
Soyabean – 14.68 million tonnes
Groundnut – 4.75 million tonnes
Rapeseed & mustard – 7.82 million tonnes
Cotton – 34.00 million bales (of 170 kg each)
Sugarcane – 338.96 million tonnes
MP:SS: BK:CP: fourth advance estimates (22.7.2013)
Monday, July 22, 2013
Apollo Hospitals to expand capacity in East
Kolkata: Apollo Hospitals plans to add another 1,500 beds in Eastern and North Eastern India and, Bangladesh in next five years. On the cards are opening of four new hospitals – one each in Kolkata, Patna, Raipur and Guwahati.
The Chennai-based healthcare major has 1,500-bed capacity in the East and North East. This includes a 510-bed super-specialty hospital in Eastern Kolkata.
According to the company, plans are afoot to add 200 beds to the existing hospital in Kolkata and build another hospital in western part of the city. The expansion of the existing capacity will be completed by this year-end. “We expect to double our capacity in the East in the next four to five years. In addition to our existing units, we would like to be present in Patna, Raipur and Guwahati,” Rupali Basu, Chief Executive Officer, Eastern Region, Apollo Hospitals, told Business Line on the sidelines of a CII seminar on scope of venture capital and private equity fund in healthcare, on Saturday.
According to Sanjay K. Randhar, President, IndiaVenture Advisors Pvt Ltd, a Piramal Group company, estimated the cost of setting up super-specialty units at Rs 50 lakh to Rs 1 crore per bed in tier-I cities. The cost would vary between Rs 30 lakh and Rs 50 lakh in the tier-II and tier-III cities.
Currently, Apollo Hospitals has six tele-medicine (through video-conferencing system) centres in the region. Plans are afoot to add another 24 over the next couple of years.
The Chennai-based healthcare major has 1,500-bed capacity in the East and North East. This includes a 510-bed super-specialty hospital in Eastern Kolkata.
According to the company, plans are afoot to add 200 beds to the existing hospital in Kolkata and build another hospital in western part of the city. The expansion of the existing capacity will be completed by this year-end. “We expect to double our capacity in the East in the next four to five years. In addition to our existing units, we would like to be present in Patna, Raipur and Guwahati,” Rupali Basu, Chief Executive Officer, Eastern Region, Apollo Hospitals, told Business Line on the sidelines of a CII seminar on scope of venture capital and private equity fund in healthcare, on Saturday.
According to Sanjay K. Randhar, President, IndiaVenture Advisors Pvt Ltd, a Piramal Group company, estimated the cost of setting up super-specialty units at Rs 50 lakh to Rs 1 crore per bed in tier-I cities. The cost would vary between Rs 30 lakh and Rs 50 lakh in the tier-II and tier-III cities.
Currently, Apollo Hospitals has six tele-medicine (through video-conferencing system) centres in the region. Plans are afoot to add another 24 over the next couple of years.
RIL to invest $5.1 bn in US shale gas biz
Mumbai: Reliance Industries Ltd (RIL) will invest $5.1 billion (Rs 30,290 crore) in the next three years in its US shale gas business, taking the total investment in the business to $10.8 billion.
The Mukesh Ambani-promoted conglomerate acquired shale gas assets in the US in 2010 for $3.45 billion and has invested $5.7 billion in shale gas joint ventures till the June 2013 quarter.
Shale gas is natural gas found trapped within shale formations.
“RIL has emerged as a serious shale gas player. We expect RIL to spend another $5.1 billion during calendar years 2013-2016 and the joint ventures will drill 3,846 wells during the life of the project against 514 drilled till 2012-end,” said Niraj Mansingka and Kiran Tulasi of Edelweiss Securities in a report.
The company, which reported its June quarter earnings last week, posted an 84 per cent rise in revenue from its shale gas venture in the US on rising production.
RIL’s shale gas business in the US comprises three upstream joint ventures with Chevron Corp, Pioneer Natural Resources and Carrizo Oil and Gas Inc, and a midstream joint venture with Pioneer.
RIL holds a 40 per cent stake in Atlas Energy; 45 per cent in Pioneer Natural Resources and 60 per cent in Carrizo Oil.
It also holds a 49.9 per cent stake in its midstream project with Pioneer.
The Mumbai-based company has invested in these ventures through its subsidiary, Reliance Holdings USA.
While low natural gas prices post acquisition has dented RIL’s business returns, higher earnings from liquid-rich assets and enhanced capital expenditure efficiency have offset most of the impact, Edelweiss added in its report released after the company announced its results. “RIL is pursuing a high leverage strategy to enhance equity returns in the shale business.”
RIL expects shale gas to contribute 8-10 per cent to consolidated earnings before interest, tax, depreciation and amortisation in 2014-15.
On the domestic front, the company has told analysts it will commence development on coalbed methane (CBM) blocks and the R-series in the eastern offshore KG Basin block after a final approval on the gas price hike.
Though the government has decided to adopt the Rangarajan committee proposal on raising the gas price, companies like RIL are waiting for an official notification on the matter. Indicative pricing has suggested that domestic gas could rise to around $8.4-8.5 a unit with the new mechanism from the current $4.2 unit now.
Batlivala and Karani in their report said RIL expected approval for the R-series to come in three week. “With the satellite field approval already in place, the company plans to commence the development post the final approval on gas price hike. Production from CBM is expected to peak at 5-7 million standard cubic metres per day and will take three years from commencement but will be taken up only after the gas price hike.”
The Mukesh Ambani-promoted conglomerate acquired shale gas assets in the US in 2010 for $3.45 billion and has invested $5.7 billion in shale gas joint ventures till the June 2013 quarter.
Shale gas is natural gas found trapped within shale formations.
“RIL has emerged as a serious shale gas player. We expect RIL to spend another $5.1 billion during calendar years 2013-2016 and the joint ventures will drill 3,846 wells during the life of the project against 514 drilled till 2012-end,” said Niraj Mansingka and Kiran Tulasi of Edelweiss Securities in a report.
The company, which reported its June quarter earnings last week, posted an 84 per cent rise in revenue from its shale gas venture in the US on rising production.
RIL’s shale gas business in the US comprises three upstream joint ventures with Chevron Corp, Pioneer Natural Resources and Carrizo Oil and Gas Inc, and a midstream joint venture with Pioneer.
RIL holds a 40 per cent stake in Atlas Energy; 45 per cent in Pioneer Natural Resources and 60 per cent in Carrizo Oil.
It also holds a 49.9 per cent stake in its midstream project with Pioneer.
The Mumbai-based company has invested in these ventures through its subsidiary, Reliance Holdings USA.
While low natural gas prices post acquisition has dented RIL’s business returns, higher earnings from liquid-rich assets and enhanced capital expenditure efficiency have offset most of the impact, Edelweiss added in its report released after the company announced its results. “RIL is pursuing a high leverage strategy to enhance equity returns in the shale business.”
RIL expects shale gas to contribute 8-10 per cent to consolidated earnings before interest, tax, depreciation and amortisation in 2014-15.
On the domestic front, the company has told analysts it will commence development on coalbed methane (CBM) blocks and the R-series in the eastern offshore KG Basin block after a final approval on the gas price hike.
Though the government has decided to adopt the Rangarajan committee proposal on raising the gas price, companies like RIL are waiting for an official notification on the matter. Indicative pricing has suggested that domestic gas could rise to around $8.4-8.5 a unit with the new mechanism from the current $4.2 unit now.
Batlivala and Karani in their report said RIL expected approval for the R-series to come in three week. “With the satellite field approval already in place, the company plans to commence the development post the final approval on gas price hike. Production from CBM is expected to peak at 5-7 million standard cubic metres per day and will take three years from commencement but will be taken up only after the gas price hike.”
Nissan inks 10-year export agreement with Ennore Port
Chennai: Nissan Motor India, the Indian unit of Japanese auto maker Nissan Motor Co Ltd, today entered into an agreement with Ennore Port Ltd (EPL), according to which it will export at least 60,000 cars a year through the port for the next 10 years.
According to the agreement, signed here today in the presence of Union Shipping Minister G K Vasan, Nissan will get concessions in the wharfage for up to 60,000 cars a year at the rate of 0.36 per cent for every unit. Its cars will be offered free parking space for the first 15 days and will be handled in priority basis in the port.
Nissan exported 54,000 cars in 2010-11, which were increased to 96,000 in 2011-12 and further to 98,000 in 2012-13. In the first quarter of the current financial year (April-June), the company shipped out 14,000 cars.
The company is selling cars in about 100 countries, said Kenichiro Yomura, managing director and chief executive, Nissan Motor India. It hopes to maintain around 100,000 units per annum for exports.
M A Bhaskarachar, chairman and managing director of EPL, said Nissan would get benefits ranging between 10 per cent and 40 per cent of a car value (sliding rates or volume discount). The port, located about 40 km north of Chennai, has developed a general cargo-cum-car terminal at a cost of Rs 140 crore, including a car yard of 35 acres, facilitating the parking of 10,000 cars.
The agreement can be terminated by both parties with a notice of three months from either side. In 2008, Nissan had signed a memorandum of understanding with EPL without any commitment of exports. Nissan was the first exporter of cars since 2010 from the port, which handled about 336,000 cars till now. The port can handle up to 300,000 units a year.
Port to scale down fund-raising plan
Ennore Port Ltd has decided to scale down its fund-raising plan. The port, which originally planned to raise Rs 1,000 crore through tax bonds, decided to raise only Rs 500 crore, said M A Bhaskarachar, chairman and managing director. The port is waiting for the government’s notification, which it hopes to get in two to three months. The funds to be raised would be used to buy 700 acres from the salt department land in and around the Port for future expansions and other activities, he added.
According to the agreement, signed here today in the presence of Union Shipping Minister G K Vasan, Nissan will get concessions in the wharfage for up to 60,000 cars a year at the rate of 0.36 per cent for every unit. Its cars will be offered free parking space for the first 15 days and will be handled in priority basis in the port.
Nissan exported 54,000 cars in 2010-11, which were increased to 96,000 in 2011-12 and further to 98,000 in 2012-13. In the first quarter of the current financial year (April-June), the company shipped out 14,000 cars.
The company is selling cars in about 100 countries, said Kenichiro Yomura, managing director and chief executive, Nissan Motor India. It hopes to maintain around 100,000 units per annum for exports.
M A Bhaskarachar, chairman and managing director of EPL, said Nissan would get benefits ranging between 10 per cent and 40 per cent of a car value (sliding rates or volume discount). The port, located about 40 km north of Chennai, has developed a general cargo-cum-car terminal at a cost of Rs 140 crore, including a car yard of 35 acres, facilitating the parking of 10,000 cars.
The agreement can be terminated by both parties with a notice of three months from either side. In 2008, Nissan had signed a memorandum of understanding with EPL without any commitment of exports. Nissan was the first exporter of cars since 2010 from the port, which handled about 336,000 cars till now. The port can handle up to 300,000 units a year.
Port to scale down fund-raising plan
Ennore Port Ltd has decided to scale down its fund-raising plan. The port, which originally planned to raise Rs 1,000 crore through tax bonds, decided to raise only Rs 500 crore, said M A Bhaskarachar, chairman and managing director. The port is waiting for the government’s notification, which it hopes to get in two to three months. The funds to be raised would be used to buy 700 acres from the salt department land in and around the Port for future expansions and other activities, he added.
Private equity investment gaining traction in agri-business
Chennai: Private equity and venture capital firms invested $126 million across nine Indian agri-business companies during the first six months of 2013, 75% more than the $72 million (invested across six companies) during the same period last year, as per data from Venture Intelligence which specializes in private company financials, transactions and valuations in India.
The largest private equity investment in the industry during H1 2013 was Multiples Private Equity's Rs 250 crore ($43.24 million) investment in Bangalore-based Milltec Group which develops technology and machinery for rice milling, roller flour milling, maize (corn) milling and agro processing plants.
Another buyout focused PE firm, India Value Fund, has committed $40 million to pick up a majority stake in Kochi-based spices firm VKL Seasoning. VKL, a spin out from the Vallabhdas Kanji Group, provides seasonings and flavors to customers - typically quick service restaurants (QSR) - in India, the Middle East and Africa.
In February, Qatar-based Hassad Food had acquired a 69% stake in PE-backed rice exporter Bush Foods Overseas for $135 million, fetching StanChart PE a 2.5 times return on its investment. And just last week, the publicly listed rice exporter Kohinoor Foods agreed to sell a 20% stake for almost Rs 113 crore ($18.8 million) to Al Dahra Holdings, an Abu Dhabi-based agriculture focused investment firm.
"The rising appetite for such companies among overseas investors and also the higher prices being enjoyed by agri commodities in recent years could continue to sustain private equity interest in the industry," Arun Natarajan, chief executive officer, Venture Intelligence said.
The largest private equity investment in the industry during H1 2013 was Multiples Private Equity's Rs 250 crore ($43.24 million) investment in Bangalore-based Milltec Group which develops technology and machinery for rice milling, roller flour milling, maize (corn) milling and agro processing plants.
Another buyout focused PE firm, India Value Fund, has committed $40 million to pick up a majority stake in Kochi-based spices firm VKL Seasoning. VKL, a spin out from the Vallabhdas Kanji Group, provides seasonings and flavors to customers - typically quick service restaurants (QSR) - in India, the Middle East and Africa.
In February, Qatar-based Hassad Food had acquired a 69% stake in PE-backed rice exporter Bush Foods Overseas for $135 million, fetching StanChart PE a 2.5 times return on its investment. And just last week, the publicly listed rice exporter Kohinoor Foods agreed to sell a 20% stake for almost Rs 113 crore ($18.8 million) to Al Dahra Holdings, an Abu Dhabi-based agriculture focused investment firm.
"The rising appetite for such companies among overseas investors and also the higher prices being enjoyed by agri commodities in recent years could continue to sustain private equity interest in the industry," Arun Natarajan, chief executive officer, Venture Intelligence said.
Natural gas output will rise by 66% in 4 years: Moily
New Delhi: Gas output from all sources is expected to be around 105 million metric standard cubic metres per day (mmscmd) in 2013-14. By 2016-17, this is expected to touch 175 mmscmd, Petroleum and Natural Gas Minister M. Veerappa Moily told media-persons here on Friday. Moily also said the increased production of domestic gas and higher availability of imported gas was bound to result in a reduction in gas prices.
The additional gas sources also include ONGC’s block in the KG basin (KG-DWN 98/2), where it has projected to pump out 29 mmscmd of gas in 2016-17.
“One of the remarkable features is the finding in North East. Jubilant Energy had already declared the discovery of 0.7 trillion cubic feet (tcf) in Tripura. There are huge prospects in Manipur, which can go up to as high as 7 tcf,” Moily added.
However, the exploration is yet to take place due to unapproachable terrain. “I am taking this up with the Manipur Government and the Planning Commission to ensure that a few bridges are constructed to enable the rig to reach to the gas field,” the Minister said.
Last month, the Cabinet Committee on Economic Affairs gave its go-ahead for a gas pricing formula suggested by the C. Rangarajan panel. This would come into effect from April 2014 and is expected to offer the explorers nearly double the price for natural gas than at present.
The additional gas sources also include ONGC’s block in the KG basin (KG-DWN 98/2), where it has projected to pump out 29 mmscmd of gas in 2016-17.
“One of the remarkable features is the finding in North East. Jubilant Energy had already declared the discovery of 0.7 trillion cubic feet (tcf) in Tripura. There are huge prospects in Manipur, which can go up to as high as 7 tcf,” Moily added.
However, the exploration is yet to take place due to unapproachable terrain. “I am taking this up with the Manipur Government and the Planning Commission to ensure that a few bridges are constructed to enable the rig to reach to the gas field,” the Minister said.
Last month, the Cabinet Committee on Economic Affairs gave its go-ahead for a gas pricing formula suggested by the C. Rangarajan panel. This would come into effect from April 2014 and is expected to offer the explorers nearly double the price for natural gas than at present.
BPCL to invest Rs 900 cr to set up new LPG pipeline
Kochi: Bharat Petroleum Corporation will invest Rs 900 crore to set up a new LPG pipeline from its Kochi refinery to Coimbatore and to enhance the storage capacity at its Irumpanam installation.
The 229-km pipeline, at an investment of Rs 600 crore, will not only minimise transportation of gas through road but also connect the company’s bottling plants in Palakkad and Coimbatore, thereby improving the distribution network, Prasad K. Panicker, Executive Director, BPCL Kochi Refinery, said.
The company would invest another Rs 300 crore at its Irumpanam unit near Kochi Refinery to increase the storage capacity by four million tonnes, Panicker told Business Line.
The storage capacitywill be increased to 8 million tonnes with the completion of Integrated Refinery Expansion Project (IREP), he said.
The funds for both these projects will be in addition to the Rs 14,225-crore investments set apart by the company for IREP, which envisages increasing the refining capacity to 15.5 mmtpa from 9.5 mmtpa.
According to Panicker, the company intends to launch both these projects simultaneously with the IREP project scheduled to be commissioned by September 2015.
LPG requirement in Kerala is estimated at 60,000 tonnes a month and BPCL produces 45,000 tonnes. On completion of the project, Kerala will have surplus LPG, he said.
There are also plans to extend its Cochin-Coimbatore-Karur (CCK) pipeline to Bangalore to move various auto fuel products.
Once the work is complete, more products such as petrol, diesel and kerosene can be moved via the pipeline to Karur, Coimbatore and Bangalore.
It may be recalled that BPCL had recently commissioned a 35-km ATF pipeline to Cochin International Airport from Kochi refinery at an investment of Rs 41 crore. Earlier, ATF used to be supplied by tanker trucks.
The 229-km pipeline, at an investment of Rs 600 crore, will not only minimise transportation of gas through road but also connect the company’s bottling plants in Palakkad and Coimbatore, thereby improving the distribution network, Prasad K. Panicker, Executive Director, BPCL Kochi Refinery, said.
The company would invest another Rs 300 crore at its Irumpanam unit near Kochi Refinery to increase the storage capacity by four million tonnes, Panicker told Business Line.
The storage capacitywill be increased to 8 million tonnes with the completion of Integrated Refinery Expansion Project (IREP), he said.
The funds for both these projects will be in addition to the Rs 14,225-crore investments set apart by the company for IREP, which envisages increasing the refining capacity to 15.5 mmtpa from 9.5 mmtpa.
According to Panicker, the company intends to launch both these projects simultaneously with the IREP project scheduled to be commissioned by September 2015.
LPG requirement in Kerala is estimated at 60,000 tonnes a month and BPCL produces 45,000 tonnes. On completion of the project, Kerala will have surplus LPG, he said.
There are also plans to extend its Cochin-Coimbatore-Karur (CCK) pipeline to Bangalore to move various auto fuel products.
Once the work is complete, more products such as petrol, diesel and kerosene can be moved via the pipeline to Karur, Coimbatore and Bangalore.
It may be recalled that BPCL had recently commissioned a 35-km ATF pipeline to Cochin International Airport from Kochi refinery at an investment of Rs 41 crore. Earlier, ATF used to be supplied by tanker trucks.
Lupin to market MSD’s pneumococcal vaccine in India
New Delhi: US-based drug maker MSD has tied up with Mumbai-based Lupin to market MSD’s 23-valent Pneumococcal Polysaccharide Vaccine in India. Under the agreement, Lupin would have a non-exclusive licence to market, promote and distribute the vaccine under a different brand name.
After the announcement, the Lupin stock touched an all-time high of Rs 904.95 in morning trade on the BSE. It closed at Rs 890.1, up 1.9 per cent.
Currently, MSD India operates in various therapeutic segments, including metabolics, cardiovascular, vaccines, critical care and oncology and accounts for a product portfolio of about 75 brands in India.
Pneumococcal disease kills more patients worldwide than any other vaccine-preventable disease. Globally, 1.6 million people die of pneumococcal disease every year — three people die every minute.
“Adults with comorbid conditions such as chronic lung disease, diabetes, chronic heart diseases, chronic liver diseases and immune compromised diseases, as well as adults aged more than 65, are at increased risk of pneumococcal disease, compared to healthy adults,” stated a Lupin release.
KG Ananthakrishnan, managing director, MSD India, said, “It is a perfect amalgamation, as MSD brings the research and scientific excellence for Pneumococcal Polysaccharide Vaccines and Lupin brings its marketing excellence and significant reach among key clinician categories to drive product access.”
After the announcement, the Lupin stock touched an all-time high of Rs 904.95 in morning trade on the BSE. It closed at Rs 890.1, up 1.9 per cent.
Currently, MSD India operates in various therapeutic segments, including metabolics, cardiovascular, vaccines, critical care and oncology and accounts for a product portfolio of about 75 brands in India.
Pneumococcal disease kills more patients worldwide than any other vaccine-preventable disease. Globally, 1.6 million people die of pneumococcal disease every year — three people die every minute.
“Adults with comorbid conditions such as chronic lung disease, diabetes, chronic heart diseases, chronic liver diseases and immune compromised diseases, as well as adults aged more than 65, are at increased risk of pneumococcal disease, compared to healthy adults,” stated a Lupin release.
KG Ananthakrishnan, managing director, MSD India, said, “It is a perfect amalgamation, as MSD brings the research and scientific excellence for Pneumococcal Polysaccharide Vaccines and Lupin brings its marketing excellence and significant reach among key clinician categories to drive product access.”
U.P. to focus on economic infra in Rs 69,200-cr Plan outlay
New Delhi: The Plan outlay for Uttar Pradesh for 2013-14 was on Thursday finalised at Rs 69,200 crore, including Central assistance of about Rs 11,225 crore. The Plan size was finalised at a meeting between Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, and Chief Minister of Uttar Pradesh Akhilesh Yadav.
In addition, Rs 18,000crore is likely to flow from the Centre to the State through various Centrally-sponsored schemes.
Briefing the Commission on the State’s development strategy, Yadav said infrastructure and industrial policies were being implemented to attract private investment and all district headquarters are being connected by four-lane roads. By the end of the Plan, all 500 plus habitations will be connected with all-weather roads in two years, Yadav said.
The Chief Minister said the State Government will earmark more than 20 per cent of the outlay for economic infrastructure. On social infrastructure, the State Government proposed to spend 32 per cent of the outlay.
Ahluwalia complemented the State Government for restoring economic activity and focusing on the development of social and physical infrastructure. He said the State needed to further encourage private participation by creating an atmosphere conducive to investment. Education and health should be given priority while working out the development strategy, he added.
Ahluwalia drew attention to the share of manufacturing sector/industry in gross state domestic product and pointed out that it was declining due to unfavourable macro-economic conditions. The proposed new industrial policy aimed at creating investor- friendly environment was a step in the right direction, but private investment had to be incentivised to revive the industrial, he added.
Regarding the State Government’s proposal to connect all district headquarters by four-lane roads and construct 300 bridges, Ahluwalia suggested that State may use PPP (public-private partnership) mode for these projects so that they could avail of benefits under Viability Gap Funding Scheme.
In addition, Rs 18,000crore is likely to flow from the Centre to the State through various Centrally-sponsored schemes.
Briefing the Commission on the State’s development strategy, Yadav said infrastructure and industrial policies were being implemented to attract private investment and all district headquarters are being connected by four-lane roads. By the end of the Plan, all 500 plus habitations will be connected with all-weather roads in two years, Yadav said.
The Chief Minister said the State Government will earmark more than 20 per cent of the outlay for economic infrastructure. On social infrastructure, the State Government proposed to spend 32 per cent of the outlay.
Ahluwalia complemented the State Government for restoring economic activity and focusing on the development of social and physical infrastructure. He said the State needed to further encourage private participation by creating an atmosphere conducive to investment. Education and health should be given priority while working out the development strategy, he added.
Ahluwalia drew attention to the share of manufacturing sector/industry in gross state domestic product and pointed out that it was declining due to unfavourable macro-economic conditions. The proposed new industrial policy aimed at creating investor- friendly environment was a step in the right direction, but private investment had to be incentivised to revive the industrial, he added.
Regarding the State Government’s proposal to connect all district headquarters by four-lane roads and construct 300 bridges, Ahluwalia suggested that State may use PPP (public-private partnership) mode for these projects so that they could avail of benefits under Viability Gap Funding Scheme.
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