HLC on banking to align financial sector growth to Viksit Bharat (See 'Corp Brief') Infra Risk Guarantee Fund to instil confidence in private developers (See 'Corp Brief') Shares buyback to be taxed as capital gains for all categories of shareholders (See 'Corp Brief') IIFT achieves 1st Position in Times B-School Ranking 2026 (See 'Corp Brief') Centre to enable States to establish regional medical hubs for tourism (See 'Corp Brief') Budget lays emphasis on scaling up manufacturing in 7 strategic sectors (See 'Corp Brief') Competition Act - intervention of CCI not warranted where allegations contained in Information are vague, sweeping & unsupported by material particulars necessary to establish contravention of Sections 3 or 4 of the Act: CCI (See 'Legal Desk') Interest accrued on motor accident compensation will no longer attract TDS (See 'Corp Brief') FM proposes uniform MAT Treatment for non-resident opting for Presumptive Tax (See 'Corp Brief') Tax certainty for non-resident individuals (See 'Corp Brief') Govt. revised criteria for Inter-Group loan exclusion from 'Dividend' definition (See 'Corp Brief') FDI Limit in Insurance Sector raised to 100%, subject to full domestic investment of premiums (See 'Corp Brief') Govt to facilitate ICAI, ICSI, ICMAI to run short-term know-how courses for youth (See 'Corp Brief') Government to set up 'BharatTradeNet' as Unified Digital Platform for international trade (See 'Corp Brief') Sovereign Gold Bond Capital Gains exemption to apply only to original holders at maturity (See 'Corp Brief') CSIR-NIO's Vizag Centre to play key role in offshore energy: MoS (See 'Corp Brief') FEMA - Statement recorded u/s 37 of FEMA did not amount to confession of criminal offence: HC (See 'Legal Desk') International Olympic Academy Director impressed by India's vision for sports (See 'Corp Brief') WB ranks India among top 5 in terms of private investment in infra (See 'Corp Brief') SEBI - In absence of explicit permission/exemption with respect to RFQ requirements, Noticee should have suspended its services if it was not feasible to engage large amounts of funds into working capital: SEBI (See 'Legal Desk') Survey: India should focus on application-based AI tools (See 'Corp Brief') IBC - NCLT can't decide title disputes over assets, including IPRs such as trademarks, unless they have direct & proximate nexus with insolvency resolution process: SC (See 'Legal Desk') UNCTAD ranks India as leading economy in trade partner diversification (See 'Corp Brief') The Securities Markets Code, 2025: Strengthened Enforcement, Weakened Accountability? (See 'CORP EINSICHT')

Print

Rs 50 lakh cr earmarked for railways' development in 10-12 years: Goyal

Published: Jul 08, 2019

By TIOLCORPLAWS News Service

NEW DELHI, JULY 08, 2019: THE Union Minister of Commerce & Industry and Railways, Mr Piyush Goyal, has called for giving thrust to quality so that India can be recognized for its superior products. Addressing the gathering at an International Conference for Engineering Services on Quality Infrastructure for Clean & Sustainable Development here today, he expressed hope that India can be recognized world over not only for its comparative and competitive cost advantage, but also for its superior products and superior quality of services. He stated that there is scope of two-way expansion of trade - on the one hand there is huge export potential and on the other there is huge potential to bring engineering technology to India.

The Commerce Minister stated that the Finance Minister in the Budget 2019-20 has given a road map for the expansion of infrastructure in India with investment of one lakh crore rupees in next five years. He said that an investment of Rs 50 lakh crore is proposed for the expansion and development of railways in next 10-12 years. The Minister stated that this vision clearly demonstrates that India is a destination for large scale investment in infrastructure.

Mr Goyal further stated that India has become the fastest growing country in generation of solar energy. It has achieved 1200% growth in installed capacity of solar energy during the last five years. India has also become the largest user of LED bulbs with the improvement of technology and cost cutting of manufacturing. The Minister also referred to incentives proposed for electrical vehicles in this year's budget and expressed hope that India would take a lead in the world by manufacturing two wheelers, three wheelers and four wheelers.

Commerce and Industry Minister informed that the number of households that have access to LPG through cylinders have almost doubled. He also stressed on modernization of the way electricity and gas are supplied to consumers so that the energy needs of citizens may be met. Mr Goyal spoke about a national gas grid for delivery of piped gas to all households in urban centres by bringing down losses and reduce cost of supply.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.