When the CW team recently met Minister of Road Transport and Highways Nitin Gadkari, he candidly stated: ´In the past year, the Ministry of Road Transport and Highways has drastically brought down stress project count to 41 from 384 projects worth Rs 3.80 lakh crore.
2016 promises to be remembered as the year of demonetisation. Certainly, the initiative has slowed project execution and the growth momentum. Contractors have been busy, making arrangements on site to open bank accounts for workers and switching to online payments for petty supplies. Want of upfront cash has also slowed down the movement of goods.
The main problem is that our rates of EPC are fixed while the government has proposed a slab of 18 per cent for EPC contracting, which is high. Thus, despite taking input credit, we will be affected by about 10-12 per cent.
The CONSTRUCTION WORLD Global Awards. And, the 16th edition of the awards presented by Apollo Tyres, was part of the India Construction Festival (ICF) (Read more about ICF on page 102) by FIRST Construction Council.