Recent reports state that the Rs 10 lakh crore Bharatmala project spanning 25,000 km has been fast-tracked by the PMO. It is known that the highway project was sent to the Public Investment Board for approval in May and will now be forwarded to the Union Cabinet for their sanction, which is expected to be received by the end of this month. The estimated expenditure to be incurred in Phase-I is around Rs 6 lakh crore.
Jas the Indian economy suddenly gained momentum? The revision in the way GDP is calculated - with a change in the base year and a ´value-added´ way to measure output - has seen a swell in growth from around 5 per cent just a year ago to 7.3 per cent in FY15.
Will 2013 see renewed acceleration in projects becoming available for bidding? Will projects stuck in the web of permission get the green signal? Will the RBI finally reduce interest rates? Will the UPA government continue its drive towards policy reform? Let us first look at the reasons why 2013 can be a better year than 2012. We have P Chidambaram in the finance ministry, quite determined to reduce fiscal deficit.