Infrastructure
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India's Ascendance on the Global Stage: Gautam Adani
"The macroeconomic stability of India and its ambitious growth plans are sources of great confidence to us," Gautam Adani said, referring to an increased allotment of over Rs 11 lakh crore for infrastructure development by the Union government, up 16 per cent compared with the fiscal. He said that this has gone up more than three times in the last five years alone, proving the commitment of the country toward better infrastructure.
Prime Minister Modi Unveils Airport Development Initiative: 15 Projects Worth Rs 9,800 Cr Launched, Focuses on Infrastructure Expansion"
Designed to accommodate both domestic and international flights, Terminal T3 boasts a formidable capacity, capable of handling up to 4,000 passengers during peak hours. The inaugural phase of this state-of-the-art terminal can manage 8 million passengers annually, featuring elevated pathways that effectively segregate arrival and departure flows. Subsequent expansions in Phase 2 are set to further amplify this capacity to serve 13 million passengers per year.
Jewar, Pune, Navi Mumbai, Among 21 'Greenfield' Airports Set to Revolutionize Air Travel
Another significant project is the Purandar Airport in Pune, officially known as Chhatrapati Sambhaje Raje International Airport.
Insolvency proceedings begin in Ansal Properties and Infrastructure
The creditors of Ansal Properties have been asked to submit their claims with proof by December 1 to the interim resolution professional. The classes of creditors ascertained by the interim resolution professional include home buyers and deposit holders. Ashwani Kumar Singla has been appointed as interim resolution professional for Ansal Properties.
Public Cloud spending in India to touch $7.5 bn this year
Cloud system infrastructure services (IaaS) is forecast to record the highest growth this year (39.4 per cent), followed by cloud application infrastructure services (PaaS). IaaS will also be the highest spending vertical for end-users in India in 2022. "Driven by maturation of core cloud services, the focus of differentiation is gradually shifting to capabilities that can disrupt digital businesses and operations in enterprises directly," said Sid Nag, research vice president at Gartner.
Global Cloud infrastructure spending to reach $90 bn in 2022: IDC
In 2021, the cloud infrastructure spending reached $73.9 billion, up 8.8 per cent over 2020. In Q4 2021, it increased 13.5 per cent (year over year) to reach $21.1 billion. This marked the second consecutive quarter of year-over-year growth as supply chain constraints have depleted vendor inventories over the past several quarters.
'Gati Shakti' to give new direction to infra planning, reduce project costs: PM
Accordingly, 'PM Gati-Shakti' will bring down the time and cost overrun of infrastructure projects.Addressing a webinar, the Prime Minister said the budget FY23 has set the pace of India's development journey in 21st century and will lead to extraordinary increase in the strength of the country's economy, creating many new possibilities of employment.
Massive capex push buoys infra, cement, steel stocks on B-Day
The shares of infrastructure company Larsen & Toubro rose over 4 per cent, whereas realty major DLF rose over 3 per cent. Steel maker JSW Steel rose nearly 4 per cent, whereas the Steel Authority of India rose 5 per cent. In the cement space, Shree Cement rose 5 per cent, ULtraTech Cement 4 per cent, Ambuja Cement 4 per cent, and The Ramco Cements over 3 per cent. The stocks of Housing finance company Aavas Financiers rose 6 per cent.
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