Rs 50,000 cr Tax free Bonds to Boost Infra Investments
Feb 20, 2014
Source : The Times of India

 

DELHI: India will need $1 trillion by 2020 for the infrastructure sector while projects worth over thousands of crore are yet to get off the ground for want of different clearances.

With general elections now inching closer, Parliament was on Wednesday informed that the government has initiated different steps including the formation of Cabinet Committee on Investment (CCI) and the introduction of tax-free bonds to propel investments in infrastructure projects pending since 2010-11, Minister of State for Parliamentary Affairs and Planning, Rajeev Shukla informed the Lok Sabha on Wednesday.

A high-level committee on financing infrastructure has been formed to review the existing framework for financing such projects and a public private partnership appraisal committee has been constituted for streamlining and simplifying the appraisal and approvals.

Shukla told the House that planned investments in the sector was at `5.76 lakh crore in 2012-13 (provisional) and `5.60 lakh crore in 2011-12, which was scaled down from `6.45 lakh crore in 2010-11.

The Union Budget 2011-12 allowed NHAI, IFRC, IIFCL, Housing and Urban Development Corp, NHB and SIDBI to issue tax-free bonds for `30,000 crore. The sizes of tax-free bonds were raised to `60,000 crore in Union Budget 2012-13 and `50,000 in Union Budget 2013-14.

According to Shukla, `5,000 crore will be made available to NABARD to finance construction of warehouses, godowns, silos, and cold storage units to store agricultural produce, both in public and private sectors.Viability Gap Funding Scheme has been introduced to enhance financial viability of infra projects.

Latest Realty News

Real estate market looks up in Greater Gurgaon
Feb 20, 2014
DELHI: Located 24km from Gurgaon city, Greater Gurgaon, the newly-notified area in the new Master Plan, is the new marketing name for Sohna Road. Currently, Greater Gurgaon is registering a boom in the real estate market with supply keeping pace with demand; experts even say the area is all set to emerge as the next axis for residential, commercial, institutional, and industrial development in Gurgaon.
Ansal Buildwell to invest $100 million in Bahrain market
Feb 20, 2014
DELHI: Realty firm Ansal BuildwellBSE -2.95 % today announced a tie up with Bahrain-based VKL Holdings under which the two firms would invest $100 million each to develop housing and infrastructure projects in India and Bahrain.
Noida plans to slash circle rates
Feb 19, 2014
NOIDA: The department has decided to reduce circle rates, especially in group housing and commercial categories, as it has failed to achieve the annual target revenue. Senior department officials said they were not able to generate the revenue due to a steep hike in circle rates undertaken earlier.
Registry charges for extra facilities in housing societies set to go
Feb 19, 2014
NOIDA: The stamps and registry department has decided to reduce circle rates, especially in the group housing and commercial categories, as it has failed to achieve the annual target revenue. Senior officials of the stamps and registry department said that they were not able to generate the revenue due to a steep hike in circle rates undertaken earlier.
New Gurgaon has a range of housing options
Feb 19, 2014
DELHI: New Gurgaon — well connected to NH-8, the forthcoming Kundli-Manesar-Palwal Expressway, and Dwarka-Gurgaon Expressway—has brought fresh supply of units for people looking to invest in residential and commercial real estate. And, the residential property looks especially attractive here owing to the affordable rates.
Real Estate law should apply on small projects: Committee
Feb 19, 2014
DELHI: A parliamentary panel has favoured bringing small projects within the purview of the Real Estate (Regulation and Development) Bill, 2013. The panel has said the law should be made applicable on constructions that are built on 100 square meters of area or more.
Lokpal: Govt employees to file separate property returns
Feb 19, 2014
DELHI: All government employees have to file a revised declaration, information or return of their liabilities and those of spouse and their dependent children as per the mandatory requirement under the Lokpal regime, which came into being two days ago.
Connaught Place eighth costliest office location in world: Report
Feb 19, 2014
DELHI: Connaught Place in Delhi slipped four notches to become the world's eighth most expensive office location as rentals remained stable and rupeeweakened in 2013, said property consultant Cushman & Wakefield.
Buy your first home by March 31 to avail tax benefit
Feb 19, 2014
DELHI: Those planning to buy their first house should rush and complete the formalities by March 31 to avail of the additional tax benefit against the interest paid on a home loan. That's because an exemption available to taxpayers will lapse in the current financial year which enables them to reduce the interest paid from the taxable income. The reduction can be up to Rs 1.5 lakh under section 24 of the Income Tax Act and up to Rs 1 lakh under section 80EE against the interest paid on home loan
DDA holds camp for mutation of property
Feb 18, 2014
DELHI: There was a mixture of hope and scepticism among applicants at DDA’s Lok Shivir, a five-day camp to expedite the process of leasehold to freehold conversion. While some people came out of the camps with conversion deeds in their hands, some complained of insufficient assistance provided by DDA officials at the camp. According to authority officials, 500 applicants turned up at the Shivir on February 17, of whom 378 applicants were issued conversion deeds on the spot. Those who did not get

Latest Realty News Of State

Realty Talk's