Company Law - Company can prosecute any of its officers and when any officer of Company is to be prosecuted, then Section 439 of Companies Act would not be applicable: HC (See 'Legal Desk') IPR - Mere identity or similarity of mark, of which registration is sought, and earlier mark, is not sufficient as ground to reject registration application: HC (See 'Legal Desk') Govt to launch workshops to implement Vegetable Oil Products Production (See 'Corp Brief') Goyal calls for transformation from 'Van Dhan to Vyapar Dhan' (See 'Corp Brief') Banks record steady growth, improved asset quality and stronger digital performance (See 'Corp Brief') QCI and BHEL jointly organize Inter PSU Gunvatta Manthan to promote quality (See 'Corp Brief') Misc - Remedy for recovery of money instituted under Article 226 of Constitution of India is not intended to enable claimant to recover monies, recovery of which by suit is barred by limitation: HC (See 'Legal Desk') Chouhan presents 'Plant Genome Saviour Awards' to farmers in New Delhi (See 'Corp Brief') Students from Goa & Uttarakhand explore Arunachal under Ashtalakshmi Darshan (See 'Corp Brief') Commercial Courts Act 2015 - injunction on use of trade mark BISCO is valid as it is nearly identical to existing trade dress named BISCOFF: HC (See 'Legal Desk') IICA and WNS Global Services launch YBRANT programme on CSR (See 'Corp Brief') India reaffirms commitment to Equity, Climate Justice and Multilateralism at CoP30 (See 'Corp Brief') PMLA - When monies lying in account of accused which has been attached by ED is not proceeds of crime but are untainted monies bank, same needs to be released to bank: SAFEMA (See 'Legal Desk') CCI allows Lence Pte to pick up equity in AWL Agri Business (See 'Corp Brief') Yadav asks authorities from NCR States to submit Action Taken Reports on Air Pollution (See 'Corp Brief') IPR - In case of deceptive similarity and consumer confusion, defendant's continued use of mark constituted deliberate infringement: HC (See 'Legal Desk') UIDAI partners with Behavioural Insights to address awareness-related barriers (See 'Corp Brief') IPR - Evidentiary standards are requisite for establishing copyright infringement claims, particularly in relation to governmental projects and alleged appropriation of original works: HC (See 'Legal Desk') National Watershed Conference Begins in Guntur (See 'Corp Brief') DG, IICA, underscores convergence between India Inc. & armed forces (See 'Corp Brief') RERA - Real Estate Regulatory Authority is, for all intents and purposes, 'Court' for purposes of transfer jurisdiction, and High Court has jurisdiction to order transfer unless bias is shown to exist: HC (See 'Legal Desk') RM inaugurates state-of-the-art DPSU Bhavan (See 'Corp Brief') Millet reflects Odisha's heritage and future: CM (See 'Corp Brief') NI Act - Legal notice sent to cheque drawer over dishonor of the instrument, must specifically demand payment of 'cheque amount', in absence of which preconditions to institute proceedings u/s 138 do not stand fulfilled: HC (See 'Legal Desk') TRAI releases paper on Interconnection matters (See 'Corp Brief') IPR - Order Registrar of Trade Marks failing to comply with Rule 100 of Trade Marks Rules, 2017, which mandates a minimum notice period before initiating suo moto cancellation proceedings, cannot be sustained: HC (See 'Legal Desk') Rijiju visits Saudi Arabia to fix Haj quota for 2026 (See 'Corp Brief') IBC - All dues, including statutory dues owed to Central Govt., any State Govt., or any local authority, if not included in Resolution Plan, shall stand extinguished: HC (See 'Legal Desk') Chouhan to participate in 'Mandia Dibasa' to promote millets (See 'Corp Brief') A&C - Justice must be advanced on merits of case rather than defeated by technical or procedural lapses, particularly when such lapses are attributable to institutional processes beyond control of appellant: HC (See 'Legal Desk') India welcomes Brazil's initiative to establish Tropical Forests Forever Facility (See 'Corp Brief') Prevention of Corruption Act, 1988 - purpose of imposing conditions while granting bail is to secure presence of accused during trial & not to curtail personal or professional liberty: HC (See 'Legal Desk') IWAI hands over Kalughat Intermodal Terminal to PPP Operator (See 'Corp Brief') IPR - Unfair advantage of reputation and goodwill amassed by plaintiff's marks, calls for passing off against defendant: HC (See 'Legal Desk') Chouhan addresses conference of 20,000 farmers in Maharashtra (See 'Corp Brief') FERA - If exporter chose to realise export proceeds in the Indian Currency, then he had to ensure that export is made within bilateral framework of trade: SAFEMA (See 'Legal Desk') India, Bhutan unite in Prayer: Buddha Relics for Global Healing at Thimpu Festival (See 'Corp Brief') Benami - Even if there are cash infusions into bank accounts of alleged benamidar, no provisional attachment can be made in absence of evidence to show that such infusions are made by beneficial owner: SAFEMA (See 'Legal Desk') NPG evaluates projects from Ministries of Road, Highways & Railways (See 'Corp Brief') IPR - Refusal of registration is contingent upon existence of 'likelihood of confusion': HC (See 'Legal Desk') Competition Law - Dominance alone does not constitute abuse u/s 4 and competition law will intervene in digital platforms only where market-wide harm, exclusionary conduct, or unfair leveraging is evident: CCI (See 'Legal Desk') Government intervention and Corporate governance (See CORP EINSICHT)

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Budget 21 provided capital outlay of Rs 5.54 lakh crore

Published: Dec 07, 2021

By TIOLCorplaws News Service

NEW DELHI, DEC 07, 2021: TO initiate infrastructure development to boost the economy after COVID-19 pandemic, Union Budget 2021-22 has provided a capital outlay of Rs. 5.54 lakh crore, an increase of 34.5% over Budget Estimate of FY 2020-21. This was stated by Union Minister of State for Finance, Pankaj Chaudhary, in a written reply to a question in Lok Sabha yesterday.

The Minister stated that the Government has also made provision of more than Rs 2 lakh crore for States & Autonomous Bodies towards their Capital Expenditure. National Monetization Pipeline was also prepared to unlock the value of investments in public sector assets by tapping private capital and efficiencies for delivering infrastructure services. These proceeds are envisaged to augment existing/ create Greenfield infrastructure. Additionally, Central Ministries/Departments have been suggested to expedite infrastructure investment by front-loading capital expenditure.

Giving more details, the Minister said that the CCEA in its meetings held on 21.10.2021 approved the proposal for development of ‘PM GatiShakti National Master Plan (NMP)' for providing multimodal connectivity infrastructure to various Economic Zones. It aims to depict various economic zones and the infrastructure linkages to holistically integrate all the multimodal connectivity projects, remove missing gaps for seamless movement of people, goods & services, minimize disruptions, improve logistics efficiency. The sectors intended to be included in PM GatiShakti NMP are Transport & Logistics - Roads, Rail, DFC, Airports, Inland Waterways, Ports, Logistics infrastructure, Bulk material transportation, Urban Public Transport; Energy – Electricity Transmission with specific reference to evacuation of renewable energy projects, National Gas Grid; Communication – OFC network, Telecommunication Towers; Commercial infrastructure - Common infrastructure for industrial parks with industrial activities like, Food parks/Textile parks, SEZs, Electronics Manufacturing Clusters, Fishing Clusters/Harbours, Defence Corridors/Industrial Corridors, Pharma & Medical Device Clusters.

In response to the source of funding for the aforesaid project, the Minister stated that there is no financial implication for multimodal connectivity infrastructure to the economic zones under the PM GatiShakti NMP as the concerned line Ministries/Departments will seek funding of their respective infrastructure projects serving the economic zones as per procedures laid under their respective schemes/programmes.

Giving more details, the Minister stated that the National Infrastructure Pipeline (NIP) was launched with projected infrastructure investment of around Rs. 111 lakh crore during FY 2020-2025 to provide world-class infrastructure across the country, and improve the quality of life for all citizens. NIP was launched with 6,835 projects, which has expanded to over 9,000 projects covering 34 sub-sectors. NIP is a first-of-its-kind, whole-of-government exercise and covers all infrastructure sub-sectors, including MSMEs working in infrastructure sector, as mentioned in Harmonized Master List of Infrastructure Sub-sectors notified by Department of Economic Affairs (DEA).

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