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International shipping of Indian corporations dropped over 45 per cent to $2.09 billion

As per the statements…

Foreign assuming of Indian fellowships fell over 45 per cent to $2.09 billion in December 2019 as opposed to the year-ago period, according to the Reserve Bank data.

Indian firms had boosted $3.81 billion in December 2018, which added $37 million through the issuance of masala links of the total money borrowed by domestic companies during December 2019, $1.2 billion was through the automatic route of external commercial borrowing (ECB) and $840 million via approval route of ECB.

The settling $55.98 million was raised through the rupee-denominated bonds or popularly known as masala bonds.

The borrowers taking the automatic route of ECB included HPCL-Mittal Pipelines ($262.5 million), HDFC Credila Financial Services ($100 million), LIC Housing Finance ($200 million) and Toyota Financial Services India ($100 million), among others.

Those who borrowed through the approval route were REC Ltd ($500 million) and Power Finance Corporation ($250 million).

Besides this, As many as 400 foundation plans, each deserving Rs 150 crore or higher, have been hit by total cost overruns of over Rs 4 lakh crore owing to obstacles and other reasons, according to a story. 

  • The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and beyond of such 1,698 projects, 400 projects reported cost overruns and 578 projects time escalation.
  • “Total original cost of implementation of the 1,698 plans was Rs 20,41,114.88 crore and their expected end cost is likely to be Rs 24,41,837.32 crore, which reflects overall cost overruns of Rs 4,00,722.44 crore (19.63 per cent of original cost),” the ministry’s latest announcement for November 2019 announced.

The expense incurred on these projects until November 2019 is Rs 10, 50,331.59 crore, which is 43.01 per cent of the expected cost of the plans.

Despite, the number of late projects limits to 484 if the delay is estimated on the basis of the latest plan of achievement.

Further, it stated that for 728 outlines not the year of investing nor the indefinite development period has been summarised.

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