Finance Minister Nirmala Sitharaman on Tuesday unveiled Rs 102 lakh crore of infrastructure projects that will be implemented in the next five years as part of the government’s spending push in the infrastructure sector.
Addressing a press conference, she said Prime Minister Narendra Modi had in his Independence Day speech spoken of investing Rs 100 lakh crore in infrastructure.
Subsequently, a task force identified Rs 102 lakh crore worth of projects after conducting 70 stakeholder consultations in a short period of four months, she said.
The minister said another Rs 3 lakh crore of projects are likely to be added to this pipeline.
These projects are on top of Rs 51 lakh crore spent by the Centre and the states during the last six years, she said adding…
Major headlines
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Indian indices
The benchmark indices closed in negative territory as investors booked profit on the last trading day of the calendar year 2019. Markets remained in red throughout the session, tracking weak global cues. At the end, Sensex declined by 0.73% or 304.26 points to 41,253.74. The Nifty dropped by 0.71% or 87.40 to 12,168.45.
Following are the stocks/sectors which were in news on 31st Dec:
Shares of water engineering company Va Tech Wabag rallied by 8.89% to Rs. 183.10, after it received a project from Bihar government.
PTC India Financial Services rose by 2.54% to Rs. 56.80, after getting a sanction for a fresh long term loan.
HEG fell by 2.10% to Rs. 1,065.10, after Life Insurance Corporation of India (LIC) reduced its stake in the company from 8.9% to 6.85%.
[6:58 pm, 31/12/2019] Shailesh Bhai 2: Global signals
Asia-Pacific markets fell in light trading on December 31, with some major indexes closed for the New Year’s holiday and others closing early.
European markets traded in negative territory on December 31, in a quiet session as 2019 draws to an end.