The state government has reported a $1.7 billion budget surplus during one of the worst downturns in the country’s history, helped by a $945 million boost in royalty income.…
Indian Railways has generated 10,66,246 man-days of work till September 25 under Garib Kalyan Rozgar Abhiyaan in 6 States including Bihar, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh and around 164 Railway infrastructure projects are being executed in these states.
According to the Ministry of Railways, Railway Minister Piyush Goyal is closely monitoring the progress made in these projects and generation of work opportunities for the migrant labours of these states under this scheme.
“Till 25 September 2020, 12,276 workers have been engaged in this Abhiyaan and the payment of Rs 2,190.7 crores has been released to the contractors for the projects being implemented,” the ministry said.
The Railway has appointed nodal officers in each district as well as in the States to establish close coordination is with the State government.
Under the scheme, a number of Railway works are being executed like construction and maintenance of approach roads for level crossings, development & cleaning of silted waterways, trenches and drains along the track, construction and maintenance of approach road to railway stations, repair and widening of existing railway embankments/cuttings, plantation of trees at the extreme
State-owned Bharat Petroleum Corp Ltd (BPCL) has been forced to pay for its defaulting partner Videocon Industries Ltd after it had relied on a rarely used model to acquire stake in five oil blocks in Brazil, sources said.
The two firms formed an incorporated joint venture IBV Brasil Petroleo Limitada to acquire Encana Brasil Petroleo Limitada from Canadian gas producers EnCana.
Sources said usually such acquisitions are done through unincorporated joint ventures but BPCL chose to form an incorporated joint venture.
Incorporated joint venture is organised as separate and distinct legal entity. And the entire entity is held in default if any one of the partners doesn’t pay for its share of cost.
With bankrupt Videocon unable to pay its cash calls for exploration and development of the oilfields, IBV faced likelihood of a default and the risk of being booted out.
To save the day, BPCL infused $ 53.98 million in IBV in 2019-20, resulting in its share in
Romania’s deeply-entrenched Social Democrats lost control of capital Bucharest in local elections Sunday, exit polls showed, as mask-clad voters chose mayors and local councillors nationwide in the first electoral test after years of political turbulence.
Held amid a surge in new coronavirus cases in the east European country of almost 19 million, the vote for some 43,000 seats is seen as bellwether for national polls in December.
The Social Democrats (PSD) have held the capital since 2008, but exit polls by local TV stations showed challenger Nicusor Dan took more than 47 percent of the vote, a comfortable lead over incumbent mayor Gabriela Firea’s 39 percent.
The mathematician and former social activist, who lost to Firea four years ago, is backed by his USR-PLUS party, but also by the currently ruling and more influential National Liberal Party (PNL).
PSD was unseated nationally last year in a parliamentary no-confidence vote after attempts to push through controversial justice reforms, despite warnings from Brussels, saw massive street protests.
Even so, the party, which has dominated the political landscape since the end of communism 30 years ago, maintains a strong presence in the countryside.
It relies on a disciplined electorate, often at the beck-and-call