Rs 27,000 crore allocated for speeding-up road construction under PMGSY and Rs 55,000 crore for road transport and highways
GN Bureau | February 29, 2016
In its bid to give a major push to improving the infrastructure in the country, finance minister Arun Jaitley, has announced a total outlay of Rs 2,18,000 crore as capital expenditure for roads and railways in 2016-17. The year’s budget also promises that the Airport Authority of India will be reviving un-served and underserved airstrips in partnership with the state governments.
Presenting the general budget 2016-17 in Lok Sabha, the finance minister said that infrastructure and investment were the fifth support pillars of his budget theme “Transform India”.
A top Reserve Bank of India official had waved the red flag, a year back, regarding the SWIFT messaging system. SWIFT was used in a fraud amounting to Rs 11,000 crore at a Punjab National Bank branch that benefited billionaire diamond jeweler Nirav Modi. Former RBI deputy gover
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Diagnosing what ails India’s governance, Bihar chief minister Nitish Kumar used to name three units or offices that are so corrupted that they are beyond redemption: village patwaris, police station darogas and Railways ticket collectors. In his stint as executive head of Bihar, he seems to have incl
Could RTI have saved banks from scams?
The Right to Information (RTI), used efficiently, could have helped activists and bankers expose irregularities much before they snowballed into full-fledged scams – the one at Punjab National Bank (PNB) being only the latest example. That is the argument coming from Shailesh Gandhi, f