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Economy | Road projects: India needs to borrow heavily

Economy | Road projects: India needs to borrow heavily
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First Published: Wed, May 12 2010. 11 06 PM IST
Updated: Wed, May 12 2010. 11 06 PM IST
New Delhi: The National Highways Authority of India will need to borrow as much as Rs10,000-20,000 crore a year for the next 15 years from local and international markets to finance projected investments of Rs9 trillion by 2031-32, an official statement quoted chairman Brijeshwar Singh on Wednesday.
Singh said the road development target has been cramped into a five-year period, within which the government hopes to finish the awarding of nearly 36,000km of national highways.
Rahul Chandran
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Foodgrain production may fall 7% on drought
New Delhi/Mumbai: India’s foodgrain output may drop in the year ending next month after the weakest monsoon in three decades reduced rice yields.
Foodgrain production may total 218.2 million tonnes (mt), 7% less than the 234.5 mt a year earlier, the agriculture ministry said on Wednesday in a statement. Rice production may fall to 89.3 mt from 99.2 mt a year earlier, the ministry said. Wheat production may gain to 80.98 mt from 80.68 mt, it said. Maize output may decline 17% to 16.3 mt from 19.7 mt.
Bloomberg
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Air India staff plan work-to-rule agitation
New Delhi: The cabin crew of National Aviation Co. of India Ltd, or Nacil, which runs Air India, has decided to go on a work-to-rule agitation protesting against the airline management’s delay in resolving issues related to wages. They will stick to their stipulated working hours and not work any extra time. An Air India spokesperson said no flights will be disrupted on account of the protest.
Staff Writer
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First Published: Wed, May 12 2010. 11 06 PM IST