Arisinfra Solutions wins contract worth Rs 340 cr from Transcon Group
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Time of India
18 minutes ago
- Time of India
Sarma launches infra projects worth Rs 504 crore at DU, AMCH
1 2 3 4 5 6 Dibrugarh: CM Himanta Biswa Sarma on Thursday launched a massive infrastructural development initiative in Dibrugarh worth Rs 504 crore, laying foundation stones for projects at Dibrugarh University and Assam Medical College & Hospital (AMCH). The comprehensive development programme encompasses two of the region's premier educational institutions, with Dibrugarh University receiving projects worth Rs 147 crore, while AMCH benefiting from a massive Rs 357 crore investment involving residential and academic infrastructure. "This is a historic day for the people of Dibrugarh. With these projects at Dibrugarh University and AMCH we have taken one step forward in our endeavour to establish Dibrugarh as the second capital of Assam. These projects will transform Dibrugarh University and AMCH into premier institutions with world-class facilities. Our govt is committed to providing students and faculty with an environment conducive to learning, research and holistic development," CM Sarma said. At Dibrugarh University, the CM laid foundation stones for multiple projects designed to modernise the institution's academic, research and residential facilities. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo The developmental work will be executed through two flagship govt schemes: the CM's Special Grant, contributing Rs 76 crore, and the Pradhan Mantri Uchchatar Shiksha Abhiyan (PM-USHA) providing Rs 71 crore. The CM's Special Grant will fund several critical infrastructural projects, including a girls' hostel block accommodating 324 students, 16 new housing quarters for faculty and staff, extensive repair and extension of internal roads, a modern sports complex and a fully equipped gymnasium. Under the PM-USHA scheme, the university will receive additional student accommodation through a girls' hostel block with 176 beds, along with academic infrastructure, including a six-storied academic building and a three-storied research centre. Later in the day, the CM laid the foundation for residential and hostel facilities at AMCH worth Rs 357 crore. The project will be executed by the public works (health & education) department and will come up on the 504 bigha AMCH campus. The project includes extensive faculty accommodation, with two residential blocks housing 40 senior faculty flats and three blocks providing 60 junior faculty residences. Special quarters for the principal, vice-principals and medical superintendent have also been planned as part of the housing scheme. Student accommodation will see substantial expansion with the construction of multiple hostel blocks, catering to different categories of students and staff. The plan includes a 500-capacity female MBBS hostel, a 225-bed male MBBS facility and separate postgraduate hostels accommodating 232 female and 200 male students.
Time of India
an hour ago
- Time of India
Duty cuts on UK goods may aid firms more than buyers
Union commerce minister Piyush Goyal and his British counterpart Jonathan Reynold during the signing of the Comprehensive Economic and Trade Agreement (CETA), in the UK. NEW DELHI: Government has agreed to cut tariffs on thousands of products imported from UK - from chocolates and cosmetics to cars, silver and Scotch - but reduction and elimination of customs duties will not translate into the entire benefit being passed on to consumers. To begin with, customs duty is only the basic cost of the landed price for an Indian seller. On top of that are local levies - GST or excise - which even an Indian manufacturer has to pay. And, this can be a significant portion of the final price. Take the case of alcohol, for instance, where the landed price of a bottle of the popular Johnnie Walker Black Label is estimated at around Rs 350, which at 150% customs duty sees a levy of Rs 525. On top of that, there is a 200% margin for the importer, the company, in most cases - which means an addition of around Rs 750 - taking the landed price to Rs 1,275. Then comes excise of 85% or Rs 1,084 and VAT of 25% (Rs 590), taking the wholesale price to Rs 2,950. Then comes the retail margin, pushing the cost in a market like Delhi to over Rs 3,000 a bottle. The actual price reduction for a customer will only be Rs 200-300 a bottle, a top industry executive told TOI while predicting a higher margin for companies. That's especially true for Made-in-India whisky, which blend anywhere between 1% and 25-30% Scotch imported in bulk form. "Going forward, for several MNCs operating in India, bottling in India may not be a great idea and they will simply import bottles of blended whisky," the source said. A similar situation is likely to play out in other sectors such as cosmetics too, where companies will see improved margins, said marketing executives. There is no mechanism for govt to ensure the full benefit is passed on. Although it tried to ensure the window is no longer available under GST and in any case, companies dragged authorities to court, questioning the calculations. In segments such as automobiles, competition from players will drive pricing behaviour, as will other trade agreements. For instance, with the EU deal in the pipeline, a German carmaker or Tesla may just lower domestic prices significantly to grab a bigger pie of the market. With duty reduction in several segments staggered over 10 years, price cuts are not on the immediate horizon. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
2 hours ago
- Time of India
CII summit flags need for better regional connectivity to boost devpt
Mangaluru: The issue of lack of connectivity posing a major hurdle in Mangaluru's march towards the Silicon Beach and Beyond Bengaluru initiatives took centre stage at the Infrastructure & Logistics Summit organised by Confederation of Indian Industry (CII) Mangaluru here on Thursday. Delivering the keynote address, New Mangalore Port Authority (NMPA) chairman Venkata Ramana Akkaraju said even after 75 years of Independence, connectivity from the rest of Karnataka to the west of the state has not improved, hindering the progress of the coastal districts. "Infrastructure, connectivity, and GDP growth are complementary to each other. Udupi and Dakshina Kannada contribute Rs 1.2 lakh crore of to the GDP of Karnataka, with per capita income being around Rs 4.92 lakh. Yet, we have to accept that coastal Karnataka is still missing the bus," he said. Within the state itself, there have been connectivity issues. Mangaluru-Bengaluru NH 75 and NH 275 to Mysuru were a work-in-progress for several years, often closed during heavy rains. The Mangaluru-Hassan rail connectivity, too, often gets affected due to heavy showers. Given such a situation, Mangaluru-Bengaluru airfares have shot up to Rs 10,000. In spite of the many challenges, NMPA has increased its cargo handling from 34 million tonnes to 46 million tonnes in the past five years, with profit after tax rising from Rs 110 crore to Rs 550 crore. The port could have handled more than 65 million tonnes of cargo, increasing its profit by an additional Rs 150 crore, had there been adequate connectivity, Akkaraju claimed. S Selvakumar, the principal secretary in the commerce and industries department, said: "Karnataka ranks No. 1 in per capita gross state domestic product (GSDP) in the country, and No. 2 in foreign direct investment as well as GST contribution." He added that the state's Industrial Policy 2025-30 is focused on developing world-class infrastructure. '92% willing to return home' Suyog Shetty, the CEO of Niveus Solutions, said 92% of the talent that migrated from the coastal region of Karnataka are willing to return home if there are meaningful alternatives. Speaking on 'Mangaluru as the Next Tech Destination: Leveraging Cloud, Talent, and Innovation' at the CII summit on Thursday, Shetty highlighted the need to engage local talent in the state's development journey. "If you offer the right opportunity and adequate salary, people will return to Mangaluru," he said. He said the Karnataka govt's policy, availability of land, and proximity to power sources are very favourable for anyone to set up data centres in Mangaluru. According to G Sundararaman, the chief scientist and head of Wipro Research, India is in an absolute tech decade with vast opportunities in the semiconductor industry. The cascading effect could be felt in Mangaluru as well, he added. Underscoring the cost benefits of acquiring office and residential spaces in Mangaluru, Rohith Bhat, the founder of Robosoft, said: "The region has a good ecosystem, with companies referred to as 'talent capitals'. There are several engineering and other colleges around. This massive talent pool allows firms to acquire the best brains from within the region itself." Suvin Narayan, representing the Karnataka Digital Economy Mission, spoke on 'accelerating digital infrastructure in Tier-II cities: KEDM's Vision for Mangaluru'.
