Kamal Nath seeks easier ECB norms

Kamal Nath seeks easier ECB norms

Date : Oct-08-2009 10:03

In order to fill the infrastructure shortage, the government needs $500 billion by 2012 while the road sector needs $70 billion and Road Transport Minister Kamal Nath is turning to the finance ministry and the Reserve Bank of India (RBI) for help.

However, not able to persuade foreign investors during his road shows abroad, he hopes for external commercial borrowing (ECB) norms to get more foreign money into the roads sector.

Moreover, currently the infra sector can use the ECB route to bring in up to $500 million for rupee expenditure. On the other hand, World Bank already announced a Rs 14,400 crore loan for the national highways and the minister hopes to raise at least Rs 48,000 crore from foreign investors.

Additionally, he plans to invite bids for 126 projects worth Rs one lakh crore in 2010 and is scouting for over $70 billion investment in the next 3 years.

Centre rushes more forces to Maha after naxal attack

STAFF WRITER 19:50 HRS IST

New Delhi, Oct 8 (PTI) The Centre today rushed additional paramilitary forces to Gadchiroli district of Maharashtra, where 17 policemen were killed in an ambush by the Maoists, to assist the state security forces.

"Additional (central) forces are in Maharashtra and they are already on way to assist the state police," Union Home Secretary G K Pillai told PTI.

A police team of 45 personnel was on a patrolling duty in the Laheri police station area of Gadchiroli district when about 150 naxals ambushed them killing 17 of them, including a sub-inspector.

Taliban claims responsibility for Indian embassy blast

KABUL:

KABUL: Taliban on Thursday claimed responsibility for the suicide bomb attack outside the Indian embassy here and claimed the toll in the blast was seventeen dead, al-Jazeera channel reported.

The channel quoting Taliban website identified the suicide bomber as Khalid.

Al Jazeera said Afghan government and intelligence sources have indicated involvement of foreign hand in the blast as "planned by a state and not a group of bandits", an apparent reference to Pakistan.

A suicide bomber today blew up an explosives-laden car outside the Indian Embassy here, killing 12 people and injuring 83, including three ITBP personnel, in the second attack on the mission in over a year.

The Indian Embassy staff was safe although the three ITBP personnel suffered "slight injuries" in the blast which was of the same intensity as that of July 7, 2008.

The wall of the highly-fortified embassy was damaged and a watch tower destroyed in the powerful blast that occurred near the outer perimeter at around 0827 hours (0927 IST) leaving a trail of death and destruction.

"A suicide car bomb blast took place near the Indian Embassy in which 12 people were killed and 83 wounded. Most of the wounded are civilians," Interior Ministry spokesman Zemaral Bashry said.

Indian Ambassador Jayant Prasad said the "Indian Embassy was the target" but the suicide bomber failed to breach the security perimeter.

"The blast was directed at the Embassy because the suicide bomber came up to the outside perimeter wall of the Indian Embassy with a car loaded with explosives, obviously with the aim of targeting the embassy," Foreign Secretary Nirupama Rao said in New Delhi.

Afghan Foreign Ministry spokesman Fakiri said "brutal attack" was carried out by "enemies of the relations between the two countries" and their "bases are outside of Afghanistan".

TOI