Defence Secretary Lauds IFA in Driving Financial Reforms

10 Apr 2025 CW Team

At the Integrated Financial Advisors (IFA) Conference 2025 held in Hampi, Karnataka, Defence Secretary Rajesh Kumar Singh praised the role of IFAs in promoting transparency, accountability, and responsiveness within India’s defence financial system. The two-day event, organized by the Defence Accounts Department (DAD) under the Ministry of Defence, took place from April 3–4.

Singh echoed Defence Minister Rajnath Singh’s vision for DAD to become a Centre of Excellence in Defence Finance and Economics. He emphasized the need for research-driven policy advice, cost-benefit analysis in procurement, and the use of AI-based financial analytics.

He also highlighted key achievements, including the DAD’s 100 per cent capital budget utilization in 2024–25 — a first in five years — and the impact of Project SAMPURNA, which uses AI, machine learning, and data science to streamline procurement, payments, and accounting.

The conference included six focused sessions that explored the role of financial advisors in capital acquisitions, challenges in the IFA system for Military Engineer Services, and discussions on Army Commander Special Financial Powers and outsourcing in defence operations.

In his opening remarks, S.G. Dastidar, Financial Advisor (Defence Services), noted the IFA system’s expansion in line with India’s growing defence needs and the increased delegation of financial authority. He stressed the importance of standardized processes, robust data systems, and strong coordination between IFAs and Controllers of Defence Accounts (CDAs). CGDA Dr. Mayank Sharma also addressed the evolving role of financial advisors and the transformative impact of Project SAMPURNA.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..