The document discusses India's road network and the road infrastructure sector. Some key points:
- India has the second largest road network in the world spanning over 5.23 million kilometres. National highways account for 1.9% of total roads.
- The value of India's roads and bridges infrastructure is expected to reach USD 19.2 billion by FY17 growing at a CAGR of 13.6%.
- The government has increased budget allocations for road development and aims to double the length of national highways to 200,000 kilometres. Private sector participation through PPP models is also growing.
The document discusses India's road network and the road infrastructure sector. Some key points:
- India has the second largest road network in the world totaling over 5.23 million kilometers. National highways account for around 2% of total roads.
- The budget allocation for road development by the Government of India in FY16-17 was USD 14.5 billion. Private sector involvement through PPP models is also growing.
- The length of national highways has increased in recent years and the government plans to double it to 200,000 kilometers. Various phases of the National Highways Development Project have been implemented to develop road infrastructure.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world at over 5.23 million km. The network is divided into national highways, state highways, and rural/district roads.
- The government has implemented various programs like NHDP to expand the national highway network. The network has grown from 97,135 km in FY15 to 100,475 km in FY16.
- Private sector participation through PPP models is growing. As of August 2015, 149 PPP road projects were under construction and 112 had been implemented.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.23 million kilometres. National highways account for 1.9% of total roads.
- The government has undertaken several initiatives to expand the national highway network such as the National Highway Development Project (NHDP). The length of national highways has increased significantly over the years.
- Private sector participation has grown in developing road infrastructure through public-private partnerships. Several projects have been implemented through the BOT model. However, public participation in the sector has been declining in recent years.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.23 million kilometres. The network is divided into national highways, state highways, and rural roads.
- The government has undertaken several initiatives to expand the national highway network such as the National Highway Development Project (NHDP) and the Special Accelerated Road Development Programme for the North Eastern Region (SARDP-NE).
- Private sector participation is growing with 304 public-private partnership projects currently under construction as of October 2016. The government aims to further develop road infrastructure through public-private partnerships.
The document provides an overview of the roads sector in India. It notes that India has the second largest road network in the world, spanning over 5.21 million kilometers. The government has increased budget allocations for road development and aims to expand the length of national highways from 103,933 km to 200,000 km. Private sector participation is also growing through public-private partnerships. Various states have announced investments to develop state roads into national highways which will boost connectivity and economic activity.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.23 million kilometres. The national highway network grew from 97,135 km in FY15 to 100,475 km in FY16.
- The government has increased budget allocations for road development and aims to double the length of the national highway network to 200,000 km. Private sector investment is also growing through public-private partnerships.
- Roads account for the majority of freight and passenger traffic in India. Growing automobile sales and economic activity are driving increased demand for road infrastructure development. The roads and bridges market is estimated to be worth $19
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.21 million kilometers. The network is divided into national highways, state highways, and rural roads.
- The government has undertaken several initiatives to expand the national highway network such as the National Highways Development Project with seven phases and the Special Accelerated Road Development Programme for the North East.
- Private sector participation has increased in developing road infrastructure through the public-private partnership model. The government aims to use this model to boost investment in the sector and achieve its target of expanding the national highway network to 200,000 kilometers.
The document provides information on India's road network and the government's plans to expand it. It notes that India has the 2nd largest road network globally at over 5 million km. The government has launched various initiatives like the National Highways Development Project to double the length of national highways and develop key economic corridors. Public-private partnerships are also playing a growing role in road infrastructure projects. The value of roads and bridges infrastructure in India is expected to reach USD 19.2 billion by FY17, driven by the rising demand for transportation and policy support from the government.
The document discusses India's road network and the road infrastructure sector. Some key points:
- India has the second largest road network in the world totaling over 5.23 million kilometers. National highways account for around 2% of total roads.
- The budget allocation for road development by the Government of India in FY16-17 was USD 14.5 billion. Private sector involvement through PPP models is also growing.
- The length of national highways has increased in recent years and the government plans to double it to 200,000 kilometers. Various phases of the National Highways Development Project have been implemented to develop road infrastructure.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world at over 5.23 million km. The network is divided into national highways, state highways, and rural/district roads.
- The government has implemented various programs like NHDP to expand the national highway network. The network has grown from 97,135 km in FY15 to 100,475 km in FY16.
- Private sector participation through PPP models is growing. As of August 2015, 149 PPP road projects were under construction and 112 had been implemented.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.23 million kilometres. National highways account for 1.9% of total roads.
- The government has undertaken several initiatives to expand the national highway network such as the National Highway Development Project (NHDP). The length of national highways has increased significantly over the years.
- Private sector participation has grown in developing road infrastructure through public-private partnerships. Several projects have been implemented through the BOT model. However, public participation in the sector has been declining in recent years.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.23 million kilometres. The network is divided into national highways, state highways, and rural roads.
- The government has undertaken several initiatives to expand the national highway network such as the National Highway Development Project (NHDP) and the Special Accelerated Road Development Programme for the North Eastern Region (SARDP-NE).
- Private sector participation is growing with 304 public-private partnership projects currently under construction as of October 2016. The government aims to further develop road infrastructure through public-private partnerships.
The document provides an overview of the roads sector in India. It notes that India has the second largest road network in the world, spanning over 5.21 million kilometers. The government has increased budget allocations for road development and aims to expand the length of national highways from 103,933 km to 200,000 km. Private sector participation is also growing through public-private partnerships. Various states have announced investments to develop state roads into national highways which will boost connectivity and economic activity.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.23 million kilometres. The national highway network grew from 97,135 km in FY15 to 100,475 km in FY16.
- The government has increased budget allocations for road development and aims to double the length of the national highway network to 200,000 km. Private sector investment is also growing through public-private partnerships.
- Roads account for the majority of freight and passenger traffic in India. Growing automobile sales and economic activity are driving increased demand for road infrastructure development. The roads and bridges market is estimated to be worth $19
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.21 million kilometers. The network is divided into national highways, state highways, and rural roads.
- The government has undertaken several initiatives to expand the national highway network such as the National Highways Development Project with seven phases and the Special Accelerated Road Development Programme for the North East.
- Private sector participation has increased in developing road infrastructure through the public-private partnership model. The government aims to use this model to boost investment in the sector and achieve its target of expanding the national highway network to 200,000 kilometers.
The document provides information on India's road network and the government's plans to expand it. It notes that India has the 2nd largest road network globally at over 5 million km. The government has launched various initiatives like the National Highways Development Project to double the length of national highways and develop key economic corridors. Public-private partnerships are also playing a growing role in road infrastructure projects. The value of roads and bridges infrastructure in India is expected to reach USD 19.2 billion by FY17, driven by the rising demand for transportation and policy support from the government.
The document provides an overview of roads and highways development in India. It discusses India's large road network, the various categories of roads, and growth in road construction. Key points include that India has the second largest road network globally, the national highway network is being expanded significantly, and private sector investment in road projects is rising through public-private partnerships. The government has various programs focused on improving connectivity and road infrastructure in remote and less developed areas.
The document provides an overview of the roads sector in India. It notes that India has the second largest road network in the world, spanning over 5.21 million kilometers. The government has increased budget allocations for road development and aims to expand the national highway network to 200,000 kilometers. Private sector participation is also growing through public-private partnerships. Various initiatives are underway to boost road construction through funding from overseas investors and domestic policies around monetizing road projects.
The document provides information on roads in India. It notes that as of 2016, India had the second largest road network in the world spanning over 5.23 million kilometres. Over 64.5% of goods and 85.9% of passenger traffic uses roads for transportation. The government has increased budget allocations for road development and private sector investment in roads is expected to reach $31 billion by 2020. The length of national highways is growing rapidly and plans are in place to double it to 200,000 kilometres. Various states and organizations are undertaking new road projects to further expand the network.
The document discusses India's road network and development. It notes that India has one of the largest road networks in the world totaling over 5.6 million kilometers. The government has increased budget allocations for road development and more private sector involvement is supporting growth in national highways. Major projects underway include developing the North East region and constructing tunnels to improve connectivity.
The document discusses India's road network and the road infrastructure sector. It notes that India has one of the largest road networks in the world spanning over 5.6 million km. There has been rising budget allocation and private sector investment in road development projects. The government aims to increase the length of national highways from 122,432 km currently to 200,000 km and accelerate the pace of highway construction. Various initiatives are being taken to boost road infrastructure development in the northeastern region and areas affected by left wing extremism.
The document provides an overview of the roads sector in India. It notes that India has one of the largest road networks in the world, spanning over 5.6 million kilometers. The road network is divided into national highways, state highways, and district/rural roads. National highways make up around 2% of the total roads. Private sector participation through PPP models is growing in road infrastructure development. The government has increased budget allocations for road development and aims to expand the national highway network to 200,000 kilometers.
Indian Railways is the third largest rail network in the world by size. It saw strong revenue growth over the past decade, with freight accounting for the majority of revenues. Passenger and freight traffic also grew steadily. Indian Railways aims to increase revenues to $44.5 billion by 2020 through initiatives like modernization, technology upgrades, and greater private investment.
Indian Railways is the world's third largest rail network with over 12,000 passenger trains carrying 30 million passengers daily. Revenues have grown strongly over the years, reaching $25.2 billion in FY2016, and are estimated to reach $44.5 billion by FY2020. Freight remains the major revenue generator, accounting for over 67% of total revenues, followed by the passenger segment. Passenger traffic reached 8.2 billion in FY2016 and is expected to increase to 15.2 billion by FY2020.
Indian Railways is the third largest rail network in the world by size. In FY16, Indian Railways transported over 1.1 billion tonnes of freight and carried over 8 billion passenger trips. Revenue has grown steadily over time, reaching $25.2 billion in FY16, and is estimated to reach $44.5 billion by FY20. Freight transportation accounts for the majority of revenue at 67.1% in FY16, while passenger fares make up the second largest segment. The government is undertaking various modernization efforts and encouraging private investment to upgrade infrastructure and services.
Indian Railways has the world's 3rd largest rail network carrying over 23 million passengers daily. Private sector participation is being encouraged in rail projects through models like public-private partnerships. Various growth initiatives are being taken like electrification, modernization of stations, introduction of new trains and setting up of waste-to-energy plants. Freight traffic has been growing and Indian Railways aims to triple freight volumes by 2030. Revenues have grown strongly over the years and are estimated to reach US$44.5 billion by FY20.
Indian Railways has the world's 3rd largest rail network carrying over 23 million passengers daily. Private sector participation is being encouraged in rail projects through models like participative models for capacity augmentation projects and JVs. Various growth initiatives are being taken like electrification, increasing freight traffic capacity, modernizing stations, and introducing new trains. Technology upgradation plans include manufacturing of modern coaches and introducing a mobile application.
The document provides an overview of the roads sector in India. It discusses that India has one of the largest road networks in the world spanning over 5.5 million km. The government is focusing on expanding the national highways and has set a target to increase their length from the current 122,432 km to 200,000 km. Several projects have been awarded by the National Highways Authority of India to private players for developing national highways across various states. The government is also focusing on improving road connectivity in the North East region and Left Wing Extremism affected areas through special programs.
The document provides an overview of the infrastructure sector in India. Some key points:
- FDI inflows into construction development and infrastructure activities have increased to $24.54 billion and $9.82 billion respectively.
- The government allocated $61.92 billion for infrastructure in the 2017-18 budget to push growth.
- Private sector involvement is increasing across segments like roads, power and airports.
- Key sectors like roads, railways and power are witnessing rising revenues and capacity additions.
India has one of the largest road networks in the world, spanning over 5.5 million kilometers. The road sector is growing rapidly, with national highway construction hitting a record 26.93 km per day in FY18. Private sector participation is also growing, with 312 projects recommended for development through public-private partnerships as of September 2017. The government has undertaken several initiatives to boost road infrastructure such as the Special Accelerated Road Development Programme for the North East and the Left Wing Extremism Programme. Rising vehicle ownership and economic growth are driving demand in the sector.
The document provides an overview of the roads sector in India. Some key points:
- India has one of the largest road networks in the world, spanning over 5.5 million km. National highways make up around 2% of total roads.
- The government has increased budget allocations for road development and aims to complete 200,000 km of national highways by 2022. Private sector participation is also growing.
- In FY18, national highway construction hit a record of 26.93 km per day. Various projects have been approved or are underway to improve connectivity across different regions.
Indian Railways is the 3rd largest rail network in the world by size. It carried over 23 million passengers daily and transported 1,107.1 million tonnes of freight in FY17. Private sector participation is being encouraged in rail projects through various initiatives like the Foreign Rail Technology Cooperation Scheme. Indian Railways is undertaking various modernization efforts and technology upgradations like electrification, introduction of new coaches and setting up of waste to energy plants. It aims to triple freight traffic to 3.3 billion tonnes by 2030.
The document provides an overview of the roads sector in India, including:
1) India has one of the largest road networks in the world, spanning over 5.5 million km. The government aims to complete 200,000 km of national highways by 2022.
2) The budget allocation for road development has been increasing, with Rs. 71,000 crore allocated for FY2018-19. Private sector investment is also growing.
3) National highway construction reached a record 26.93 km per day in FY2018. Over 9,829 km of highways were constructed that year, a 20% increase over the previous year.
- Indian Railways is the third largest rail network in the world by size, with over 66,000 km of track and over 8,500 stations. It transports over 30 million passengers daily and 1,107 million tonnes of freight annually.
- Revenues have grown steadily over the years, reaching $25.2 billion in FY2016, with freight accounting for over two-thirds of revenues. Freight volumes have also grown, reaching 1,107 million tonnes in FY2016.
- Passenger volumes have increased to over 8 billion annually, and are projected to reach 15.18 billion by FY2020, reflecting growing demand for rail travel in India. The government is working to enhance infrastructure,
Indian Railways is the third largest rail network in the world by size. It carried over 23 million passengers daily in FY17 and transported 1,107.1 million tonnes of freight. Freight accounts for over two-thirds of railway revenues. Passenger and freight traffic have grown steadily in recent years and several initiatives such as public-private partnerships, infrastructure upgrades, and technology adoption aim to further boost growth. Indian Railways targets doubling its freight market share to 50% and increasing annual passenger volumes to over 15 billion by FY20 through continued investments and modernization efforts.
The document provides an overview of recent trends in the Indian infrastructure sector:
- FDI inflows into construction development and infrastructure activities have increased to $24.67 billion and $12.36 billion respectively.
- The government allocated $92.22 billion for infrastructure in the 2018-19 budget.
- Infrastructure deals have increased in value from $2.98 billion in FY2015-16 to $3.49 billion in FY2016-17.
- Private sector involvement is growing across various infrastructure segments such as roads, power and airports.
The document presents Wareham Public Schools' proposed FY 2012 budget timeline and details. It summarizes that the requested budget increase aims to close the achievement gap between Wareham students and state averages by fully implementing intervention programs and instructional leadership initiatives. It has broken down the proposed increases into categories like instruction, student services, and transportation. The budget represents the needs identified by school principals and directors to address lost federal funding and contractual obligations while continuing to support students, especially in special education programs.
A budget is a road map that shows where an organization wants to go financially and how it plans to get there. Budgets are used for board oversight, goal focus, and financial control. The major advantages of budget planning are planning, communication, motivation, control, and evaluation. The master budget comprises the sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget, selling and administrative expense budget, and budgeted income statement. It also includes the budgeted balance sheet and cash budget. Effective budgeting requires determining the length of the budget period and involving participation from different levels of management.
The document provides an overview of roads and highways development in India. It discusses India's large road network, the various categories of roads, and growth in road construction. Key points include that India has the second largest road network globally, the national highway network is being expanded significantly, and private sector investment in road projects is rising through public-private partnerships. The government has various programs focused on improving connectivity and road infrastructure in remote and less developed areas.
The document provides an overview of the roads sector in India. It notes that India has the second largest road network in the world, spanning over 5.21 million kilometers. The government has increased budget allocations for road development and aims to expand the national highway network to 200,000 kilometers. Private sector participation is also growing through public-private partnerships. Various initiatives are underway to boost road construction through funding from overseas investors and domestic policies around monetizing road projects.
The document provides information on roads in India. It notes that as of 2016, India had the second largest road network in the world spanning over 5.23 million kilometres. Over 64.5% of goods and 85.9% of passenger traffic uses roads for transportation. The government has increased budget allocations for road development and private sector investment in roads is expected to reach $31 billion by 2020. The length of national highways is growing rapidly and plans are in place to double it to 200,000 kilometres. Various states and organizations are undertaking new road projects to further expand the network.
The document discusses India's road network and development. It notes that India has one of the largest road networks in the world totaling over 5.6 million kilometers. The government has increased budget allocations for road development and more private sector involvement is supporting growth in national highways. Major projects underway include developing the North East region and constructing tunnels to improve connectivity.
The document discusses India's road network and the road infrastructure sector. It notes that India has one of the largest road networks in the world spanning over 5.6 million km. There has been rising budget allocation and private sector investment in road development projects. The government aims to increase the length of national highways from 122,432 km currently to 200,000 km and accelerate the pace of highway construction. Various initiatives are being taken to boost road infrastructure development in the northeastern region and areas affected by left wing extremism.
The document provides an overview of the roads sector in India. It notes that India has one of the largest road networks in the world, spanning over 5.6 million kilometers. The road network is divided into national highways, state highways, and district/rural roads. National highways make up around 2% of the total roads. Private sector participation through PPP models is growing in road infrastructure development. The government has increased budget allocations for road development and aims to expand the national highway network to 200,000 kilometers.
Indian Railways is the third largest rail network in the world by size. It saw strong revenue growth over the past decade, with freight accounting for the majority of revenues. Passenger and freight traffic also grew steadily. Indian Railways aims to increase revenues to $44.5 billion by 2020 through initiatives like modernization, technology upgrades, and greater private investment.
Indian Railways is the world's third largest rail network with over 12,000 passenger trains carrying 30 million passengers daily. Revenues have grown strongly over the years, reaching $25.2 billion in FY2016, and are estimated to reach $44.5 billion by FY2020. Freight remains the major revenue generator, accounting for over 67% of total revenues, followed by the passenger segment. Passenger traffic reached 8.2 billion in FY2016 and is expected to increase to 15.2 billion by FY2020.
Indian Railways is the third largest rail network in the world by size. In FY16, Indian Railways transported over 1.1 billion tonnes of freight and carried over 8 billion passenger trips. Revenue has grown steadily over time, reaching $25.2 billion in FY16, and is estimated to reach $44.5 billion by FY20. Freight transportation accounts for the majority of revenue at 67.1% in FY16, while passenger fares make up the second largest segment. The government is undertaking various modernization efforts and encouraging private investment to upgrade infrastructure and services.
Indian Railways has the world's 3rd largest rail network carrying over 23 million passengers daily. Private sector participation is being encouraged in rail projects through models like public-private partnerships. Various growth initiatives are being taken like electrification, modernization of stations, introduction of new trains and setting up of waste-to-energy plants. Freight traffic has been growing and Indian Railways aims to triple freight volumes by 2030. Revenues have grown strongly over the years and are estimated to reach US$44.5 billion by FY20.
Indian Railways has the world's 3rd largest rail network carrying over 23 million passengers daily. Private sector participation is being encouraged in rail projects through models like participative models for capacity augmentation projects and JVs. Various growth initiatives are being taken like electrification, increasing freight traffic capacity, modernizing stations, and introducing new trains. Technology upgradation plans include manufacturing of modern coaches and introducing a mobile application.
The document provides an overview of the roads sector in India. It discusses that India has one of the largest road networks in the world spanning over 5.5 million km. The government is focusing on expanding the national highways and has set a target to increase their length from the current 122,432 km to 200,000 km. Several projects have been awarded by the National Highways Authority of India to private players for developing national highways across various states. The government is also focusing on improving road connectivity in the North East region and Left Wing Extremism affected areas through special programs.
The document provides an overview of the infrastructure sector in India. Some key points:
- FDI inflows into construction development and infrastructure activities have increased to $24.54 billion and $9.82 billion respectively.
- The government allocated $61.92 billion for infrastructure in the 2017-18 budget to push growth.
- Private sector involvement is increasing across segments like roads, power and airports.
- Key sectors like roads, railways and power are witnessing rising revenues and capacity additions.
India has one of the largest road networks in the world, spanning over 5.5 million kilometers. The road sector is growing rapidly, with national highway construction hitting a record 26.93 km per day in FY18. Private sector participation is also growing, with 312 projects recommended for development through public-private partnerships as of September 2017. The government has undertaken several initiatives to boost road infrastructure such as the Special Accelerated Road Development Programme for the North East and the Left Wing Extremism Programme. Rising vehicle ownership and economic growth are driving demand in the sector.
The document provides an overview of the roads sector in India. Some key points:
- India has one of the largest road networks in the world, spanning over 5.5 million km. National highways make up around 2% of total roads.
- The government has increased budget allocations for road development and aims to complete 200,000 km of national highways by 2022. Private sector participation is also growing.
- In FY18, national highway construction hit a record of 26.93 km per day. Various projects have been approved or are underway to improve connectivity across different regions.
Indian Railways is the 3rd largest rail network in the world by size. It carried over 23 million passengers daily and transported 1,107.1 million tonnes of freight in FY17. Private sector participation is being encouraged in rail projects through various initiatives like the Foreign Rail Technology Cooperation Scheme. Indian Railways is undertaking various modernization efforts and technology upgradations like electrification, introduction of new coaches and setting up of waste to energy plants. It aims to triple freight traffic to 3.3 billion tonnes by 2030.
The document provides an overview of the roads sector in India, including:
1) India has one of the largest road networks in the world, spanning over 5.5 million km. The government aims to complete 200,000 km of national highways by 2022.
2) The budget allocation for road development has been increasing, with Rs. 71,000 crore allocated for FY2018-19. Private sector investment is also growing.
3) National highway construction reached a record 26.93 km per day in FY2018. Over 9,829 km of highways were constructed that year, a 20% increase over the previous year.
- Indian Railways is the third largest rail network in the world by size, with over 66,000 km of track and over 8,500 stations. It transports over 30 million passengers daily and 1,107 million tonnes of freight annually.
- Revenues have grown steadily over the years, reaching $25.2 billion in FY2016, with freight accounting for over two-thirds of revenues. Freight volumes have also grown, reaching 1,107 million tonnes in FY2016.
- Passenger volumes have increased to over 8 billion annually, and are projected to reach 15.18 billion by FY2020, reflecting growing demand for rail travel in India. The government is working to enhance infrastructure,
Indian Railways is the third largest rail network in the world by size. It carried over 23 million passengers daily in FY17 and transported 1,107.1 million tonnes of freight. Freight accounts for over two-thirds of railway revenues. Passenger and freight traffic have grown steadily in recent years and several initiatives such as public-private partnerships, infrastructure upgrades, and technology adoption aim to further boost growth. Indian Railways targets doubling its freight market share to 50% and increasing annual passenger volumes to over 15 billion by FY20 through continued investments and modernization efforts.
The document provides an overview of recent trends in the Indian infrastructure sector:
- FDI inflows into construction development and infrastructure activities have increased to $24.67 billion and $12.36 billion respectively.
- The government allocated $92.22 billion for infrastructure in the 2018-19 budget.
- Infrastructure deals have increased in value from $2.98 billion in FY2015-16 to $3.49 billion in FY2016-17.
- Private sector involvement is growing across various infrastructure segments such as roads, power and airports.
The document presents Wareham Public Schools' proposed FY 2012 budget timeline and details. It summarizes that the requested budget increase aims to close the achievement gap between Wareham students and state averages by fully implementing intervention programs and instructional leadership initiatives. It has broken down the proposed increases into categories like instruction, student services, and transportation. The budget represents the needs identified by school principals and directors to address lost federal funding and contractual obligations while continuing to support students, especially in special education programs.
A budget is a road map that shows where an organization wants to go financially and how it plans to get there. Budgets are used for board oversight, goal focus, and financial control. The major advantages of budget planning are planning, communication, motivation, control, and evaluation. The master budget comprises the sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget, selling and administrative expense budget, and budgeted income statement. It also includes the budgeted balance sheet and cash budget. Effective budgeting requires determining the length of the budget period and involving participation from different levels of management.
Source: Ministry of Housing and Urban Poverty Alleviation
Summary: Ministry of Housing & Urban Poverty Alleviation (HUPA), Government of India, has taken initiatives to streamline the process of seeking clearances for the real estate projects. A committee on Streamlining Approval Procedure for Real Estate Projects (SAPREP) was constituted under the Chairmanship of Mr. Dhanendra Kumar by this Ministry, which submitted its report with various recommendations for streamlining plan approval process of real estate projects.
Note: Please visit www.compad.in for more information
A budget is a plan for income and expenses over a defined period of time, expressed in monetary terms. It is prepared before the period begins. Budgeting provides benefits like control over money, awareness of finances, and early warnings about potential problems. Budgetary control involves implementing budgets and holding managers responsible. It establishes budgets for all organizational functions and continuously compares actual performance to the budget to identify variations and take corrective actions. The objectives of budgetary control include planning, coordination, communication, control, and performance evaluation.
The document discusses various aspects of the Indian Railway budget preparation process. It provides an overview of the key features and objectives of the railway budget, including acting as a coordinating mechanism, management tool, and means to evaluate performance and identify areas of concern. It outlines the parliamentary financial control mechanism secured by the budget. It also describes the accounts department's role in maintaining accounts, compiling budgets, and ensuring no financial irregularities. Finally, it discusses important dates in the budget preparation cycle and steps that can help prevent defects in budgeting.
budget budgeting and budgetary controlKajal Sharma
Budgetary control is an important management technique that involves planning, implementing, and evaluating business activities based on a pre-prepared budget. It helps balance expenses with income. A budget is a summary of expected income and expenses for a defined future period, expressed in monetary terms, and prepared before that period begins. Budgetary control has advantages like enhanced efficiency, coordination, and profit maximization, but also limitations such as being based on estimates and potentially hindering flexibility. For an effective budgetary control system, certain prerequisites must be in place, including clear roles and responsibilities, well-defined objectives and policies, a budget committee, and accounting and communication systems.
Presentation on Budget, budgeting and budgetary control..
Contents-
1) Budgeting [characteristics]
2) Budgetary control
3) Difference in budget, budgeting, budgetary control
4) Essentials in budgetary control
5) Requisites for budgetary control system
6) Merits & limitations
7) Zero-based budgeting
8) Difference in Traditional & Zero based budgeting.
The document discusses several budgets for a company including a production budget, selling and administrative budget, direct materials budget, direct labor budget, cash budget, and sales budget. It provides details on projected sales figures and units for a quarter, manufacturing overhead costs, labor hours and rates, inventory levels from a previous period, and sections of the cash budget including expected cash collections, disbursements, excesses, deficiencies, and financing activities including anticipated borrowings and interest. For the month of April, the document notes an expected cash deficiency of $20,000.
The document discusses the history, meaning, and process of budgeting. It provides key details on:
- The origins of the term "budget" from the British Kings in the early days.
- The main stages in budget development including formulation, review/enactment, and execution.
- The types of budgets such as operating, capital, cash, and personal budgets.
- The roles and responsibilities of those involved in budget planning and implementation, including nurse managers.
- The overall goal of budgeting to estimate and control expenses and income over a set period of time through a formal financial planning process.
The document discusses land acquisition processes and challenges. It covers differences between the Land Acquisition Act of 1894 and National Highways Act of 1956. It also discusses reasons for delays in land projects, including administration issues, capacity issues, and lengthy clearance processes. Specific issues are outlined for forest clearances and wildlife clearances. Lessons learned from land acquisition for the International Container Transshipment Terminal in Kerala and from the Delhi International Airport are presented, focusing on addressing social concerns and benefit sharing.
This document outlines the plans and budget for a faculty/department for 2008. It includes a summary of the 2007 financial performance and the requested 2008 budget. It discusses key activities from 2007, performance based on financial, customer, internal process, and learning and growth perspectives. It identifies the vision, mission, SWOT analysis, and strategies, objectives, KPIs and initiatives for 2008. Finally, it includes the proposed operating and capital budgets for 2008.
Budgeting faces several challenges: (1) estimating an uncertain future, (2) gaining buy-in from budget holders, and (3) responding to unplanned changes. To overcome these, companies use flexible budgets, involve stakeholders, and regularly update budgets. Effective budgeting requires open communication and adapting to new information.
This document discusses budgeting and budgetary control. It defines a budget as a quantitative plan, usually monetary, for a specific time period, often one year. Budgets can be capital budgets for new projects or operating budgets for short-term goals. An effective budgetary control system involves preparing budgets, continuous comparison of actual to planned performance, and revising budgets as needed. Installing such a system requires determining objectives and constraints, and establishing an organization structure with a budget controller and committee responsible for the budget process.
The document discusses various types of budgets used in budgetary control including: sales, production, cost of production, purchase, personnel, R&D, capital expenditure, cash, master, fixed, flexible, and zero-base budgets. It also discusses capital budgeting techniques for evaluating investment proposals including payback period, accounting rate of return, net present value, profitability index, and internal rate of return.
The document defines what a budget is according to various sources and provides details about the key components of a government budget. A budget is a financial plan that estimates revenues and expenditures for a set period, usually a year. It includes estimates of taxes, borrowing, expenditures on programs and services. The budget helps allocate resources and implement economic policies.
This document provides an overview of budgets and budgetary control. It defines a budget as a quantified financial plan for a defined future period. Budgets have benefits like helping control spending, focus on goals, and organize finances. The key types of budgets discussed include sales, production, costs, materials, purchases, labor, overhead, selling & distribution, administration, capital expenditures, and cash budgets. Budgetary control involves establishing budgets, comparing actuals to budgets, and taking corrective action for variances. The objectives of budgetary control are planning, coordination, communication, motivation, control, and performance evaluation.
The document discusses budgeting and budgetary control. It defines a budget as a financial plan for a defined period. Budgets estimate profit potential, are stated in monetary terms, generally cover one year, and require management approval. The key aspects of budgets are setting objectives, understanding cost behavior, coordination, communication, flexibility, and accounting data support. Budgets are used for planning, coordination, responsibility assignment, performance evaluation, and adapting to changing conditions. Budgetary control involves establishing budgets, tracking actual performance, analyzing variances, and taking corrective actions.
The document discusses budgeting and budgetary control systems. It defines a budget as a financial plan that sets goals and allocates resources for an upcoming period. Budgetary control involves establishing budgets, comparing actual results to budgets, calculating variances, and taking corrective action. Corporate planning is a long-term strategic planning process, while budgeting translates long-term plans into short-term action plans. SWOT analysis and setting objectives are key steps in corporate planning. Budgeting motivates employees and allows comparison of actual results to plans.
The document discusses guidelines for developing comprehensive budgets for research studies. It emphasizes assessing the feasibility of study protocols and identifying all costs required to conduct the study. The key steps include developing an internal budget by reviewing study documents to list all procedures, visits, supplies, and patient care costs per participant as either standard of care or research only. Determining the appropriate classification helps identify the true costs to conduct the study for negotiation purposes. Common core budget components are also outlined.
The Top Skills That Can Get You Hired in 2017LinkedIn
We analyzed all the recruiting activity on LinkedIn this year and identified the Top Skills employers seek. Starting Oct 24, learn these skills and much more for free during the Week of Learning.
#AlwaysBeLearning https://learning.linkedin.com/week-of-learning
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world spanning over 5.23 million kilometres. National highways account for 1.9% of total roads.
- The government has increased budget allocation to USD14.5 billion in FY16-17 and is focusing on expanding national highways through public-private partnerships. 149 PPP road projects were under construction as of August 2015.
- Private sector participation is growing with an expected USD31 billion investment through PPP models by 2020. Various states and central government initiatives like SARDP-NE and the LWE program are also expanding road connectivity.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world at over 5.23 million km. National highways account for 1.9% of total roads.
- The government has increased budget allocation for road development and private sector involvement is growing. Over $31 billion is expected in private investment by 2020.
- Various initiatives have been launched to expand the national highway network such as the National Highway Development Project (NHDP) and special programs for the northeast and areas affected by left-wing extremism.
The document provides an overview of the roads sector in India. It notes that India has the second largest road network in the world, spanning over 5.21 million kilometers. National highways account for 1.9% of total road network length but are being rapidly expanded. The government has increased budget allocations for road development and public-private partnerships are growing. Various initiatives are helping connect remote areas and support economic development. Overall the sector is expected to continue expanding rapidly driven by increased infrastructure spending.
The document provides an overview of the roads sector in India. It discusses that India has one of the largest road networks in the world, spanning over 5.6 million kilometers. The government has increased budget allocations for road development and aims to expand the national highway network to 200,000 kilometers. Private sector participation is also growing through public-private partnerships. Various strategies like expanding two-lane highways to four lanes and developing key economic corridors are being adopted to boost road infrastructure development.
The document provides an overview of the roads sector in India. Some key points:
- India has the second largest road network in the world at over 5.21 million km. Roads account for over 64% of freight and 90% of passenger transport.
- The government has increased budget allocations for road development and aims to expand the national highway network from 115,435 km to 200,000 km.
- Private sector investment in road projects is growing, with an estimated US$31 billion expected by 2020. Various states are also undertaking major road projects.
- Key initiatives to boost the network include the National Highways Development Project, the Special Accelerated Road Development Program for the North East, and projects
The document provides an overview of the roads sector in India. Some key points:
- India has one of the largest road networks in the world, spanning over 5.6 million km. Roads carry over 64.5% of goods and 90% of passenger traffic.
- The budget allocation for road development has increased steadily, with Rs. 71,000 crore allocated for FY2018-19. Private sector investment is also growing.
- The government aims to increase the length of national highways to 200,000 km and various phases of the National Highways Development Project are underway.
The document provides an overview of the Indian railways sector including:
- Indian Railways is the world's third largest rail network under single management with over 66,000 km of track and over 8,500 stations.
- Freight remains the major revenue generator, accounting for over 67% of total revenues in FY16, followed by the passenger segment.
- Passenger and freight traffic have grown steadily in recent years and are expected to continue growing strongly to meet targets under Vision 2020.
The document provides an overview of the infrastructure sector in India. Some key points:
- FDI inflows into construction development and infrastructure activities have increased steadily in recent years, reaching $24.54 billion and $9.82 billion respectively.
- The government has allocated large budgets for infrastructure and various projects across roads, power, railways have been completed. Private sector participation is also growing.
- Sectors like roads, power generation, railways have seen strong growth in recent years. The core infrastructure industries index also grew by 4.8% in FY2016-17.
The document provides an overview of the Indian railways sector. It discusses that Indian Railways is the world's third largest rail network under single management overseen by the Ministry of Railways. It operates over 22,300 trains daily on a network of over 66,000 kilometers. The two major segments are passenger and freight. Freight accounts for over two-thirds of the railway's revenues. Both passenger and freight volumes have grown steadily in recent years and are expected to continue growing strongly. The document also outlines various modernization initiatives by Indian Railways.
- The document discusses India's infrastructure sector, providing an executive summary of key trends such as rising foreign direct investment, high budgetary allocations, and increasing private sector involvement.
- It notes that FDI inflows into construction development and infrastructure activities have reached $24.67 billion and $12.36 billion respectively. The government has allocated $92.22 billion for infrastructure in the 2018-19 budget.
- Private sector participation is growing across segments like roads, communications, power and airports. India has improved its global ranking in logistics performance.
The document provides an overview of the infrastructure sector in India. Some key points:
- FDI inflows into construction development and infrastructure activities have increased, reaching $24.66 billion and $10.70 billion respectively.
- The government allocated $61.92 billion for infrastructure in the 2017-18 budget to push development.
- Private sector involvement is growing across segments like roads, communications, power and airports.
The document provides an overview of the Indian railways sector. Some key points:
- Indian Railways is the world's 3rd largest rail network spanning over 66,000 km and 8,500 stations. In FY16, it carried over 8.1 billion passengers and 1.1 billion tonnes of freight.
- The sector is seeing growing private sector participation through PPP models. Modernization efforts include upgrading systems and introducing new technologies like mobile ticketing.
- In FY16, freight accounted for 67% of railway revenues, followed by passengers at 27%. Total revenues for FY16 were $25.2 billion and are estimated to reach $44.5 billion by FY20.
The document provides an overview of the Indian railways sector including:
- It is the 3rd largest rail network globally and carried over 1.1 billion tonnes of freight in FY16.
- Revenues have grown steadily over time and are estimated to reach $44.5 billion by FY20 driven by initiatives to modernize and increase private participation.
- Freight accounts for over two-thirds of revenues while passenger volumes have also increased steadily to over 8 billion in FY16.
India has the second largest road network in the world, spanning a total of 4.7 million kilometres. Roads in India bear about 85 per cent of the country's passenger traffic and 60 per cent of freight traffic.
The value of total roads and bridges infrastructure is expected to touch US$ 19.2 billion by 2017. The key factors responsible for driving demand in the sector have been the rise in two-wheeler and four-wheeler vehicles and increasing freight traffic. Rising per-capita incomes and a growing middle class coupled with easier access to finance and a wider price range of vehicles have boosted car sales. During 2007-14, the sales of passenger and commercial vehicles are expected to increase at a compounded annual growth rate (CAGR) of 15 and 13.5 per cent to touch 3.5 and 0.85 million respectively.
Infrastructure spending by the government is expected to touch US$ 1 trillion in the next Five-Year Plan (FY13-17). To promote the sector, the government has allowed 100 per cent foreign direct investment (FDI) under the automatic route. Development of national highways through Public-Private Partnership (PPP) is expected to remain the key focus area for the government. During the next five years, investments through PPP are expected to be over USD41 billion for national highways and around USD10 billion for state highways.
The document provides an overview of the Indian railways sector including:
- Indian Railways is the 3rd largest rail network globally with over 66,000 km of track carrying over 30 million passengers daily.
- Freight traffic has grown steadily reaching 1,107 million tonnes in FY16 and is estimated to reach 2,165 million tonnes by FY20.
- Revenues have increased from USD14.4 billion in FY07 to an estimated USD44.5 billion by FY20 with freight accounting for the largest share at 67% of revenues in FY16.
The document provides an overview of the roads sector in India. It mentions that India has one of the largest road networks in the world spanning over 5.5 million km. The government has allocated Rs 1.12 trillion in the 2019-20 budget for road development. Private sector involvement is growing with investment of US$ 31 billion expected in national highways projects by 2020. Construction of national highways is also rising rapidly with the target to complete 200,000 km of national highways by 2022.
Similar to Roads Sectore Report - December 2016 (16)
Tamil Nadu has a strong and growing economy, as evidenced by its GSDP which grew at a CAGR of 11.46% between 2011-12 and 2018-19, reaching Rs. 16.06 trillion (US$ 222.58 billion) in 2018-19. The state has a diversified industrial base and thriving services sector, especially in IT/ITeS. It also has robust infrastructure including roads, ports, airports, and an emphasis on further infrastructure development. With various initiatives like Vision 2023, Tamil Nadu aims to boost its economy and attract significant domestic and foreign investments over the coming years.
India has become the second largest steel producer in the world in 2018. Steel production and capacity in India have grown rapidly over the past decade, with capacity reaching 137.98 million tonnes in 2017-18. Consumption has also increased steadily, driven by growth in infrastructure, automotive, and other sectors. The government has implemented policies like the National Steel Policy to encourage further capacity growth to 300 million tonnes by 2030-31. Low per capita consumption compared to other countries also provides significant potential for further demand growth.
The document provides an overview of India's services sector, including:
1) The services sector contributes over 50% of India's GDP and grew at 12.75% in 2018-19, demonstrating its importance as the key driver of India's economic growth.
2) India has a large skilled workforce and is a global outsourcing hub, commanding a 55% share of the global sourcing market, which has helped establish the country as a leading provider of technology and digital services.
3) The government is working to further develop the services sector through initiatives like 'Startup India' and reforms that make India an attractive investment destination for both domestic and foreign investors.
The document provides an overview of the real estate sector in India. It discusses that the real estate sector is expected to reach $1 trillion by 2030 and contribute 13% of India's GDP by 2025. Rapid urbanization is driving demand for residential and commercial real estate space. The residential segment contributes around 80% of the sector currently. Government policies like Housing for All and Smart Cities are further boosting growth.
Rajasthan has experienced strong economic growth in recent years. Between 2011-12 and 2018-19, the state's Gross State Domestic Product grew at a compound annual growth rate of 11.37% to reach $128.1 billion. The tourism industry in Rajasthan is thriving, with over 47.5 million tourist arrivals in 2017, and the state is a leading producer of agro-based products. Rajasthan also has immense potential for renewable energy generation from solar and wind sources.
Indian Railways is the third largest rail network in the world by size. It saw strong revenue growth over the past decade, with freight accounting for over 65% of revenues in FY19. Freight and passenger traffic have both increased steadily in recent years. Various modernization initiatives are underway to upgrade infrastructure and technology. Private sector participation is being encouraged to augment rail connectivity and capacity.
India has the third largest installed power capacity in the world at 356.10 GW as of March 2019. It is the third largest producer and consumer of electricity globally. India has achieved 100% household electrification and aims to increase renewable energy capacity to 175 GW by 2022. Thermal energy accounts for over 63% of total installed capacity, while renewable sources account for 21.8%. The power sector in India is growing rapidly and offers many opportunities for investment and development.
Nagaland has a Gross State Domestic Product (GSDP) of around 0.24 trillion Indian rupees in 2017-18, growing at a CAGR of 11.83% between 2011-12 and 2017-19. The per capita GSDP in 2017-18 was 113,549 rupees, growing at a CAGR of 10.66% in the same period. Nagaland's Net State Domestic Product (NSDP) in 2016-17 was 0.19 trillion rupees, growing at 15.72% between 2011-12 and 2016-17. The per capita NSDP in 2016-17 was 90,168 rupees, growing at 12.
Meghalaya has the highest rainfall in India and diverse soil types that support agriculture. The state has strong potential in floriculture, bamboo processing, and medicinal plants due to its biodiversity. Meghalaya also has large hydroelectric power potential and abundant mineral resources. The state aims to promote industries like agro-processing, horticulture, minerals and tourism to create opportunities for its population.
- The Indian infrastructure sector is experiencing significant growth due to rising government investments and initiatives such as allocating Rs 4.56 lakh crore for infrastructure in the FY 2019-20 budget.
- Private sector participation is increasing across segments like roads, power and airports. Infrastructure sectors like power transmission and renewable energy will drive future investments.
- Improving connectivity through initiatives like Bharatmala Pariyojana and Sagarmala will boost infrastructure growth. 100% villages connectivity through roads is expected by 2019 under PMGSY.
The document provides an overview of the media and entertainment industry in India. Some of the key points from the document are:
- The Indian media and entertainment industry is growing rapidly at a CAGR of 12-13% and is expected to reach Rs. 3.73 lakh crore by 2022.
- Television is the largest segment with a market size of Rs. 740 billion in 2018, expected to reach Rs. 955 billion by 2021. Digital media, animation and VFX, and online gaming are among the fastest growing segments.
- Advantages for the industry in India include rising incomes, evolving lifestyles, a large young population, increasing digitization, and government support through
- The manufacturing sector is a major employer in India and aims to provide 25% of GDP and 100 million new jobs by 2022. It has grown at a CAGR of 4% between FY12-19 and contributes significantly to India's exports.
- The document discusses India's advantage in manufacturing including a large domestic market, favorable demographics, and government initiatives like Make in India. Key sub-sectors, growth drivers and the evolution of the sector are also outlined.
- Recent trends show growth in production, IIP, capacity utilization and exports, indicating the sector is expanding. The government has implemented various policies to develop manufacturing and make India a global hub.
Manipur has a flourishing bamboo processing industry as it is one of India's largest bamboo producing states. It also has a strong handicrafts industry, being home to the highest number of handicraft units and artisans in North East India. Handlooms is the largest cottage industry in Manipur. The state has strong potential for border trade opportunities through Moreh town, which is India's only land route for trade with Myanmar and Southeast Asia. Manipur is also home to the Ema Bazaar, one of India's largest markets run exclusively by women. Due to its natural beauty and biodiversity, Manipur is a popular tourist destination known as the "Switzerland of the East".
The document provides an overview of the economy of Himachal Pradesh, India. Some key points:
- Himachal Pradesh has a strong economic growth rate, with its GSDP reaching Rs. 1.52 trillion (US$21.04 billion) in 2018-19 growing at 11.09% annually.
- The state has a diverse economy with key sectors being tourism, agriculture, and hydroelectric power. Agricultural production and tourism visitor numbers are increasing.
- Himachal Pradesh has a large hydroelectric power potential and is becoming a major hub for hydroelectricity in India, though only around 40% of its potential has been harnessed so far.
Gujarat has experienced high economic growth rates in recent years.
- Gujarat's GSDP grew at a CAGR of 13.55% from 2011-12 to 2016-17, reaching Rs. 11.62 trillion (US$ 173.24 billion) in 2016-17.
- The state's per capita GSDP increased from Rs. 101,075 (US$ 2,108) in 2011-12 to Rs. 178,043 (US$ 2,654) in 2016-17, registering a CAGR of 11.99%.
The document provides an overview of India's gems and jewellery sector. Some key points:
- India is a major player in global gems and jewellery trade, contributing about 7% to India's GDP and employing over 4.6 million people.
- India is the world's largest cut and polished diamond exporter, exporting over 75% of global polished diamonds. It also processes over $23 billion worth of diamonds annually.
- Exports of cut and polished diamonds and gold jewellery have registered steady growth in recent years. Imports have also increased at a CAGR of nearly 8% between 2004-2018.
- The sector is adopting strategies like expanding retail networks, providing financing options
The engineering and capital goods industry in India is growing rapidly. The turnover of the capital goods industry reached $70 billion in 2017 and is forecasted to reach $115.17 billion by 2025. Electrical equipment production is also growing and is expected to reach $100 billion by 2022, up from $27.3 billion in 2017-18. The engineering research and design segment is also expanding, with revenues projected to increase from $28 billion in FY18 to $42 billion in FY22. Growth is being driven by increasing industrialization, infrastructure development, and capacity expansion across various core sectors in India.
Major e-commerce players in India have adopted strategies like expanding into new categories like groceries and used goods, acquiring analytics startups to improve pricing and positioning, and launching ancillary services like payments, logistics and video streaming. They have also introduced subscription models and personalized experiences to provide extra benefits and tailor their offerings to individual customer needs and interests.
Delhi has experienced strong economic growth, with its gross state domestic product increasing at a compound annual growth rate of 12.41% between 2011-12 and 2018-19. The real estate sector has been an important contributor to the state's economy. Delhi also has a growing tourism industry, owing to its historical and cultural attractions. The state government is working to improve infrastructure and implement policies to facilitate industrial development and attract investment across various sectors.
Chhattisgarh has a strong mineral production base and is a leading producer of coal and iron ore in India. It is the only state that produces tin concentrates. The state has emerged as a preferred investment destination and has witnessed strong growth in the agriculture sector. Key sectors driving growth include minerals, power, agriculture and tourism. Chhattisgarh aims to further develop its infrastructure, promote industries and boost skill development to achieve its vision of becoming an industrialized state.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
3. 33DECEMBER 2016 For updated information, please visit www.ibef.org
EXECUTIVE SUMMARY
Second largest road
network
• In FY16, India had the second largest road network in the world, spanning over a total of 5.23
million kilometres. Over 64.5 per cent of all goods in the country are transported through roads,
while, 85.9 per cent of the total passenger traffic uses road network to commute.
Rising budget allocation
of road sector
• During FY16-17, the Government of India allocated a Budget of USD14.5 billion for the
development of roadways across the country
Growing private sector
involvement
• The private sector is emerging as a key player in the development of road infrastructure in India
• As on August 2015, India has completed 112 PPP projects and 149 PPP projects are under
progress
• Investment of USD31 billion is expected in PPP during the next five years (by 2020) for national
highways
Rapid growth in national
highways
• Length of national highways in India increased from 97,135 kilometres in FY15 to 100,475
kilometres in FY16. As a part of infrastructure reforms, the government plans to double the
length of national highways to 2,00,000 km.
Source: MoRTH Annual Report 2015–16,
NHAI, Make in India, TechSci Research
ROADS
Overseas Investment
for infrastructure
development
• CPPIB (Canada Pension Plan Investment Board) plans to invest USD322 million for
infrastructural development in India
• The Government has received public sector undertakings from countries like Malaysia and
Japan for funding the upcoming highway projects in India. Malaysia is expected to fund these
projects internally through the hybrid – annuity model. 60 per cent of the investment is borne by
the private investors and 40 per cent by NHAI in five equal instalments
• As of November 2016, Union Government and Asian Development Bank signed USD 500 million
loan agreement to build the longest bridge across river Ganga, in Bihar
5. 55DECEMBER 2016
Growing demand
For updated information, please visit www.ibef.org
ADVANTAGE INDIA
Source: NHAI, Make in India, MoRTH, Business Monitor International, TechSci Research
Notes: NHAI - National Highways Authority of India, MoRTH - Ministry of Road Transport and Highways, E- Estimated
Robust demand
• Greater connectivity between different cities,
towns and villages has led to increased road
traffic over the years
• Growth in automobiles and freight movement
commands a better road network in India
• Rise in the number of two and four wheelers,
increasing traffic supports the growth
Attractive opportunities
• Roads and bridge infrastructure
industry to be worth USD19.2 billion by
FY17
• The Central Government has fast
tracked at least 24 roads and
highways projects
Policy support
• Road infrastructure has been key
government priority; sector received
strong budgetary support over the years
• Financial institutions received
government approval to raise money
through tax-free bonds
• 100 per cent FDI is allowed under
automatic route subject to applicable
laws and regulations
Increasing
investments
• Infrastructure expenditure estimated at
USD1 trillion over FY13–17
• Government of India plans to approve
almost 10,000 kilometres of national
highway in FY17
• Growing participation of the private
sector through Public-Private
Partnership (PPP)
2016E
Roads &
bridges
infrastructure
value:
USD16.1
billion
FY17E
Roads &
bridges
infrastructure
value:
USD19.2
billion
Advantage
India
ROADS
7. 77DECEMBER 2016 For updated information, please visit www.ibef.org
ROAD NETWORK IN INDIA IS SUB-DIVIDED INTO THREE CATEGORIES
Source: Ministry of Road Transport and Highways (MoRTH) Annual Report 2015-16,
TechSci Research, Note: 1- Data as of FY16
ROADS
Roads1
(Total length: 5.23 million Kms)
State highways National Highways District and Rural roads
Total length: 1,48,256
kilometres
Share: 3.0 per cent of
the total roads in India
Total length: 1,00,475
kilometres
Share: 2.0 per cent of
the total roads in India
Total length: 49,83,579
kilometres
Share: 95.0 per cent of
the total roads in India
8. 88DECEMBER 2016 For updated information, please visit www.ibef.org
EVOLUTION OF INDIA’S ROAD NETWORK
ROADS
India has the second largest road network in the world (4.87 million kilometres)
Roads constitutes about 80 per cent of the country’s passenger traffic and 65 per cent of freight traffic
Length of National
Highways (kilometres)
Passenger vehicle sales
(million)
NHDP toll collection
(USD million)
Highway projects
awarded (kilometres) by
NHAI
Share of infrastructure in
total bank funding (%)
2.3
677
64.5
0.71
58,112
4.4
6397
1078.3
2.8
1,00,475
FY03
FY16
FY16
FY16
FY161
FY171
Source: National Highway Authority of India (NHAI), National Highway Builders Foundation, Reserve Bank of India (RBI)
Notes: FY - Indian Financial Year (April-March), NHDP - National Highway Development Project, TechSci Research,
FY161: Till December 2015, FY171: Till May 2016
9. 99DECEMBER 2016 For updated information, please visit www.ibef.org
ROADS
Roads/ bridges infrastructure value in India
(USD billion)
Value of total roads and bridges infrastructure in India is
expected to expand at a CAGR of 13.6 per cent over FY09–
17 to USD19.2 billion
In FY16, road projects worth USD2.21 billion has been
awarded under Public Private Partnership (PPP) mode
As on August 2015, 149 Public Private Partnership projects
were under construction and around 112 Public Private
Partnership projects were implemented
Increasing industrial activity, increasing number of two and
four wheelers would support the growth in the road transport
infrastructure projects
Nashri Road tunnel, India’s longest road tunnel of about 9
km, constructed at a cost of USD568.29 million, is expected
to become operational by 2017.
Source: Business Monitor International (BMI),
Ministry of External Affairs, TechSci Research
Notes: CAGR - Compounded Annual Growth Rate,
FY - Indian Financial Year (April - March), F - Forecast,
NHDP - National Highway Development Project,
SARDP-NE: Special Accelerated Road Development Programme for
the North Eastern Region and LWE - Left Wing Extremism Programme;
Figures are as per latest data available
CAGR: 13.6%
6.9 6.8
8.3 8.6 8.6
11
13.4
16.1
19.2
FY09 FY10 FY11 FY12 FY13 FY14 FY15E FY16F FY17F
10. 1010DECEMBER 2016 For updated information, please visit www.ibef.org
RISING DEVELOPMENT OF NATIONAL HIGHWAYS
ROADS
Lane composition of National Highways1
National highways account for 1.9 per cent of the total road network
in India
The size of national highway is expected to reach to 100,000
kilometres by the end of FY17 from 97,135 kilometres as on FY15
NHAI has planned to award projects covering 5,300 kilometres –
2,800 kilometres under Engineering, Procurement, and Construction
(EPC) mode, 1,000 under Build–operate–transfer (BOT) mode and
1,500 kilometres under hybrid mode in FY16
Double-lane highways constitute the largest share of highways in
India (40,658 kilometres)
Double-lane highways are followed by single/intermediate-lane
(19,330 kilometres) and four/six/eight-lane (19,128 kilometres)
highways
The Government has proposed to upgrade two-lane national
highways into four-lane national highways for which USD65 billion
has been allocated. This step is expected to reduce the passenger
car units (PCU) to 10,000 per day
The Government of India approved US$1.04 billion project for
construction and upgrading 558 km of roads to link the country with
Bangladesh, Bhutan and Nepal. The project will ease the movement
of passengers & cargo and increase inter-regional trade by 60 per
cent. Around 50 per cent funding for the project would come from
Asian Development Bank (ADB).
State of Telangana is expected to have a network of national
highways of 5,303 km in length by 2017.
Source: MoRTH, TechSci Research
Notes: 1 As on 2014
24.4%
51.4%
24.2%
Single lane
Double lane
Four/ Six/ Eight
Lane
11. 1111DECEMBER 2016 For updated information, please visit www.ibef.org
ROADS
The National Highway Authority of India (NHAI), a government agency, is responsible for construction, maintenance and
development of highways
Government of India has formulated a seven-phase programme, ‘National Highway Development Project (NHDP)’, vested
with NHAI, for the development of National Highways in the country
Porbandar
Mumbai
Kanyakumari
Chennai
Kolkata
Silchar
Delhi
Srinagar
North South –
East West
Corridor
Golden Quadrilateral
NHAI
Golden Quadrilateral (GQ): It is the highway
network that connects four major
metropolises
Total Length – 5846km (As of October, 2016)
North South & East West Corridor (NS –
EW NHDP Phase I and II): It connects the
country’s extreme ends
Total Length(NS & EW) – 7300km
(As of Oct 2016)
NHDP Phase III to VII: Construction and
improvement of roads in the remaining
urban and suburban regions
Source: NHAI, TechSci Research
ADOPTION OF NHDP FOR DEVELOPMENT OF HIGHWAYS
12. 1212DECEMBER 2016 For updated information, please visit www.ibef.org
NHAI’S SUCCESSFUL IMPLEMENTATION OF PROJECTS … (1/2)
ROADS
NHDP
phase/Year of
Approval
Project description
Total length
(Kms)
Cost Development model
Phase I /
December 2000
Development of Golden Quadrilateral, North
South & East West (NS-EW) corridor, port
connectivity and other National Highways
13,390 USD5.6 billion
Engineering-
Procurement and
Construction (EPC)
Phase II /
December 2003
Development of North South & East West
(NS-EW) corridor and other National Highways
7,142 USD6.3 billion EPC
Phase III /
April 2007 Development of four-lane National Highways 12,109 USD18.5 billion
PPP
(Build-Operate-
Transfer)
Phase IV /
February 2012
Upgradation of single lane to two-lane 20,000 USD12 billion PPP
Source: NHAI, TechSci Research
Note: Data is till December 2015
13. 1313DECEMBER 2016 For updated information, please visit www.ibef.org
ROADS
NHAI’S SUCCESSFUL IMPLEMENTATION OF PROJECTS … (2/2)
NHDP phase /
Year of
Approval
Project description
Total length
(Kms)
Cost Development model
Phase V /
October 2006
Upgradation of four-lane highways to
six-lane and port connectivity
6,500 USD9.3 billion PPP
Phase VI /
November 2006
Development of expressway
The project is targeted to be completed by
December 2015
1,000 USD3.8 billion
PPP-(Design-Build-
Finance-Operate)
Phase VII /
December 2007
Development of ring roads, bypasses and
flyovers
700 USD4.2 billion
PPP (Build-Operate-
Transfer)
Source: NHAI, TechSci Research
Note: Data is till December 2015
As of November 2016, under the Ministry of Roads Logistic Efficiency Enhancement Programme (LEEP), NHAI invited bids
for the preparation of detailed project reports for 44 freight corridors, inter-corridors and feeder routes to reduce the cost and
time of freight movement across the country
To finance various projects during FY17, NHAI plans to raise USD 2.99 billion through Employees’ Provident Fund
Organization (EPFO), USD 1.27 billion through Life Insurance Corporation (LIC); USD 746.82 million each through Masala
and 54-EC bonds and USD 2.46 billion from the market.
14. 1414DECEMBER 2016 For updated information, please visit www.ibef.org
SPECIAL ACCELERATED ROAD DEVELOPMENT PROGRAMME FOR THE NORTH EAST REGION
ROADS
The Special Accelerated Road Development Programme for the North Eastern region (SARDP-NE) is aimed at developing
road connectivity between remote areas in the North East with state capitals and district headquarters
SARDP-NE is vested with the development of double-/four-lane national highways of about 7,530 kilometres and double-
laning improving about 2,611 kilometres of state roads, as on FY16
Implementation of the road development programme would facilitate connectivity of 88 district headquarters in North Eastern
states to the nearest National Highways
The project would be undertaken in following three phases:
Phase Project description
Total length
(Kms)
Date of completion
A
Improvement of National Highways 3,014
March 2017
Improvement of state roads 1,085
B
Development of double-lane of National
Highways
2,392
Investment decision is yet to be taken by
government
Double-laning and improvement of state roads 1,331
Arunachal Pradesh
package of roads
and highways
Development of roads 2,319 March 2017
Source: NHAI, MoRTH Annual Report 2015-16, PPP in India, TechSci Research
15. 1515DECEMBER 2016 For updated information, please visit www.ibef.org
LEFT WING EXTREMISM (LWE) PROGRAMME
Status Total length (Kms) Total cost (USD billion)
Approved 5,477 USD1.2
Awarded 5,077 USD1.3
Completed (in February 2015) 3,471 USD0.8
ROADS
The government approved a Road Requirement Plan (RRP) for the development of 1,126 kilometres of National Highways
and 4,351 kilometres of state roads in Left Wing Extremism (LWE) affected districts
The project has been implemented in Andhra Pradesh, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra,
Odisha and Uttar Pradesh at a total cost of USD1.2 billion
The project would be vested with the Ministry of Road Transport and Highways (MoRTH) and is scheduled for completion by
FY17
Total outlay of USD1.3 billion has been allocated for this programme during FY16
Source: NHAI, MoRTH, PPP in India, TechSci Research
16. 1616DECEMBER 2016
51.8%
48.2%
Roads & Bridges Others
For updated information, please visit www.ibef.org
ROADS
As of 31st July, 2016, there were 1,270 PPP projects in India, of which 658 were related to roads & bridges accounting for a
value of USD670 million
Project awarded under BOT is 20 percent of the total awarded projects in the year FY16
Total PPP projects in India (July 2016)
Source: MoRTH, TechSci Research
DECREASE IN PUBLIC PARTICIPATION IN THE SECTOR … (1/2)
17. 1717DECEMBER 2016
369 464 470
877
2677
6144 6067
1116
742 873
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY15 FY16
For updated information, please visit www.ibef.org
ROADS
Projects awarded to BOT private players (in Kms)Road construction projects awarded to BOT companies
recorded a CAGR of 9 per cent during FY06–16
Both NHAI and Ministry of Road Transport & Highways
awarded projects of around 6,397 km in FY161
In 2015-16, 7 projects (20 per cent) of the total 4,368 kms of
NHAI projects awarded were allocated to BOT mode
During FY16, projects of about 873 km were awarded to
BOT players by NHAI, in comparison to 742 kms in FY15
Source: NHAI, Crisil, ITNL Company Annual Reports, TechSci Research
Note: FY13 - Projects awarded by NHAI, FY161 – Till December 2015
CAGR: 9%
DECREASE IN PUBLIC PARTICIPATION IN THE SECTOR … (2/2)
18. 1818DECEMBER 2016
PRIVATE PLAYERS GAINING TRACTION IN THE ROADS SECTOR
For updated information, please visit www.ibef.org
Source: TechSci Research
Note: NH – National Highway
ROADS
Until 2005, the road construction market was dominated by public sector companies
With the emergence of private players over the last decade, the road construction market has become fragmented and
competitive; players bidding for projects also vary in terms of size
Major private
sector players
Major projects: Mumbai–Pune BOT Project, Pune–Nashik BOT
Project, Bharuch–Surat BOT Project, Thane–Bhiwandi by-pass Four-
Lane Project, Thane Ghodbunder BOT Project, Ahmedabad–Baroda
NH-8, 6 laning of Agra - Etawah bypass
Major projects: North Karnataka Expressway, West Gujarat
Expressway, Noida Toll Bridge, Ahmedabad - Mehsana Toll Road,
East Coast Road, Kotakatta Kurnool Road Project, East Coast Road,
Hazaribagh Ranchi Expressway Limited, Karnataka Toll Bridges
Major projects: NH6 Dhankuni to Kharagpur, Sambalpur Baragarh,
NH4 Belgaum Dharwad, NH-3 Pimpalgaon – Nashik – Gonde road
(JV with L&T), Jaora – Nayagaon Road, Chennai Outer Ring Road,
Modhul – Nippani Road, Indore Edalabad Road, Wainganga Bridge,
Ahmednagar Aurangabad Road
Major projects: Bandra–Worli Sea Link, Badarpur Elevated Highway
Project, Delhi Faridabad Elevated Expressway, Breakwater
construction for new port at Ennore, Chennai, New Railway Line
Project from Jiribam - Tupul
Major projects: Tuni–Ankapalli Highway, Tambaram–Tindivanam
Highway, Ambala–Chandigarh Highway
19. 1919DECEMBER 2016
NOTABLE TRENDS IN THE ROAD SECTOR
Source: NHAI, MoRTH, TechSci Research
Note: FDI - Foreign Direct Investment
ROADS
Increasing private
sector participation
• The government’s policy to increase private sector participation has proved to be a boon for
the infrastructure industry with a large number of private players entering the business through
the Public Private Partnership (PPP) model
• The type of PPP models used in road projects are Build Operate Transfer (BOT) toll and BOT
annuity
• During the next five years, investment through PPP is expected to be USD31 billion
Partnerships between
Indian and foreign firms
• With the Government of India permitting 100 per cent FDI in the road sector, most foreign
companies have formed partnerships with Indian players to capitalise on the sector’s growth
India’s renewed focus
on infrastructure
• Infrastructure is the key to supporting double-digit GDP growth in India during the medium to
long term
• The government has made infrastructure development a key policy issue and has earmarked
USD1.0 trillion during FY13–17 for the sector
Success of India’s Five-
Year Plans
• The total length of national highways is expected to reach 100,000 kilometres by the end of
the12th Five-Year Plan
• In September 2015, government set a target of building national highways of 30 km per day
• By the end of FY16, government constructed 6,029 kilometres of national highways
Infrastructure initiatives • Programmes like “Bharat Nirman”, JNNURM are designed to pursue nation wide rural
connectivity, linking all the unconnected villages with fair weather roads
For updated information, please visit www.ibef.org
21. 2121DECEMBER 2016 For updated information, please visit www.ibef.org
PORTERS FIVE FORCES ANALYSIS
ROADS
Competitive Rivalry
• Competitive rivalry between big players is quite intense as far as
winning projects is concerned due to high price sensitivity
• Few large players have the expertise for undertaking bigger projects;
hence, competition is higher in case of large infrastructural projects
Threat of New Entrants Substitute Products
Bargaining Power of Suppliers Bargaining Power of Customers
• With liberalisation, rules have
been eased for the entry
• Big players block the entry of
new players in the roads
segment, especially in large
projects
• Bargaining power of suppliers is
very low
• Several small players exist in
the suppliers section that
weaken their power
• Bargaining power is strong due to
robust price sensitivity and low
costs
• Buyers are government
organisations or major agencies
that enhance their buying power
• Threat of substitutes is low
• Even if government wants to
renovate rather than going for
reconstruction, it is highly likely
to go to the same players
Competitive
Rivalry
(Medium)
Threat of New
Entrants
(Medium)
Substitute
Products
(Low)
Bargaining
Power of
Customers
(High)
Bargaining
Power of
Suppliers
(Low)
23. 2323DECEMBER 2016 For updated information, please visit www.ibef.org
STRATEGIES ADOPTED
ROADS
• Most players are now opting for inorganic growth routes, and are diversifying into other businesses
(IIML, a subsidiary of IL&FS is into private equity business with over USD3.2 billion under
management)
• Many players are entering into technical partnerships with foreign players to match their R&D levels
with MNCs
• Companies are hiring and training staff to reduce the shortage of skilled manpower, and focusing on
policies to retain labour
• Firms plan to increase minimum wages in the construction sector as well as women participation
• Companies are partnering with technical institutes and colleges such as CSTI (L&T & Govt. of
Odisha)
• Roads Ministry will give grant of USD 152765 to private companies and state road transport
corporations willing to set up or upgrade driver training schools
• Companies are ramping up investment for better and cost effective ways of road construction
• Stepping up R&D to develop better roads in areas which suffer from congestion, delays and
accidents, according to World standards
• As of November 2016, three memorandum of understanding (MOUs) were signed between National
Green Highways Mission (NGHM) and ITC Ltd, Yes Bank Ltd and Teri for setting up a Centre for
Innovations in Green Pathways in order to enhance research and innovations in the field.
Diversification
Training of labour
Promotion of R&D
Geographical expansion
• Indian companies are increasing their footprints abroad, thus tapping outside market
• IL& FS won a road contract worth USD216.7 million in Botswana, through its subsidiary Elsamex SA
• By January 2016, 3034 km of National Highway was constructed by Ministry of Road Transport and
Highways
25. 2525DECEMBER 2016 For updated information, please visit www.ibef.org
STRONG DEMAND AND POLICY SUPPORT DRIVING INVESTMENTS
Source: Make in India, TechSci Research
ROADS
Policy support
Greater government
focus on
infrastructure
Standardised
processes for
bidding and tolling;
clear policy
framework
Tax sops, FDI, FII
encouragement
Rise in two-wheeler
and four-wheeler
vehicles
Increasing investments
NHAI implementing
one of the largest
road projects
Rising private sector
participation
Strong projected
demand making
returns attractive
Inviting Resulting in
Increasing freight
traffic
Strong trade and
tourist flows
between states
Growing demand
26. 2626DECEMBER 2016 For updated information, please visit www.ibef.org
KEY CATALYSTS BEHIND INCREASING DEMAND FOR ROADWAYS
ROADS
Higher individual discretionary spending has led to increased spending on cars, motorbikes and scooters
Growing domestic trade flows have led to a rise in commercial vehicles and freight movement
Increasing financing on vehicle loans
Road’s traffic share of the total traffic1 in India has grown from 13.8 per cent to 65 per cent in freight traffic, and from 32 per
cent to 80 per cent in passenger traffic over 1951–2015
Higher road
traffic
Rising income
leading to
increasing number
of vehicle owners
Growing movement
of goods within the
country due to
economic
integration
Better quality roads
makes road travel
cheaper and safer
Increasing
roadways leading to
greater accessibility
between different
cities/towns/villages
Growth in small and
medium enterprises
in India
Source: MoRTH, World Bank, Make in India, TechSci Research
Note: 1Including rail and road transport
27. 2727DECEMBER 2016
567.6
760.7
929.1
832.6
699.0 698.3
782.8
FY10 FY11 FY12 FY13 FY14 FY15 FY16
1.3 1.3
1.6
1.8
2.4
3.0 3.1 3.2 3.1 3.2
3.4
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
RISING VEHICULAR TRAFFIC KEY FACTOR FOR EXPANSION OF ROADWAYS
Trends in passenger vehicle sales (in million)
Sales of passenger vehicles increased at a CAGR of 10.1 per cent during FY06-16 and reached 3.4 million in FY16
Sales of commercial vehicles in the country increased at a CAGR of 5.5 per cent in FY10-16, with the number reaching
782,814 during FY16
Rising per capita income and growing middle class coupled with easier access to finance and a wider price range of
vehicles have boosted car sales
Trends in commercial vehicle sales (in ’000)
Source: SIAM, TechSci Research
ROADS
For updated information, please visit www.ibef.org
CAGR: 5.5%
28. 2828DECEMBER 2016
0
1514
179
4819
158
2869
1902
609
23814
9008
10228
36500
1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th 12th
For updated information, please visit www.ibef.org
STRONG GROWTH MOMENTUM IN NATIONAL HIGHWAY CONSTRUCTION
ROADS
Length of national highway added under various
Five-Year Plans (kilometres)
Road additions in the 3rd Five-Year Plan was just 179
kilometres; this increased to 10,228 kilometres in the 11th
Plan
Source: NHAI, MoRTH, TechSci Research
Note: 12th1 - Estimated
Overall physical target for development of National
Highways, as included in the 12th Five-Year Plan
Scheme Target
Widening to 2-lane (km) 14,800
Widening to 4-lane (km) 9,826
Widening to 6-lane (km) 5,590
Strengthening / Improvement of Riding
Quality Programme (IRQP) (km)
8,500
Construction of bridges (in No’s) 50
Construction of bypasses (in No’s) 5
1
29. 2929DECEMBER 2016
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
For updated information, please visit www.ibef.org
INFRASTRUCTURE DEVELOPMENT: A PRIORITY FOR GOVERNMENT
ROADS
Share of infrastructure in total bank fundingInfrastructure is a priority for the government’s economic
policy; funding from private as well as public sectors is set
to increase sharply in the near term
Infrastructure’s total share in bank funding increased from
3.74 per cent in 2002 to about 9.8 per cent in FY16
It is estimated that total spending on infrastructure would
reach USD19 billion during FY12-17
Source: RBI, TechSci Research
Notes: FY171 – Till May 2016
Summary Deadline
Construction Of Road From Umnniya To
Khadhakhar Link Road
27-Dec-2016
Construction Of Road From Girwar To
Zinnaveera Link Road
27-Dec-2016
Widening.upgradation Of Police Lines Sopore
Road By Way Of Nallah Muck Filling, P-l Wbm
Grade 2nd And Rcc Pipe Crossing. Agg Length
1.00 Km
31 Dec 2016
Construction Of Road Under Pradhan Mantri
Gram Sadak Yojana Including Maintenance For
5 (five) Years After Construction
30 Dec 2016
Roads and Highways Tenders
30. 3030DECEMBER 2016 For updated information, please visit www.ibef.org
PRIVATE FUNDING BEING ENCOURAGED TO REDUCE FINANCE CONSTRAINTS … (1/3)
ROADS
Combined gross fiscal deficit of the centre and
state governments (% of GDP)
The government has aimed to attract funding from the
private sector for infrastructure projects and thereby reduce
strains on the budget
The PPP model has emerged as the favoured one for
private sector participation in road projects
As a result of government's initiative, India has completed
112 PPP projects and 149 PPP projects are under progress
as of December 2016
Notes: PPP - Public Private Partnership,
NHDP - National Highway Development Project,
BOT - Build Operate Transfer
Source: RBI, TechSci Research
E – RBI Estimates (Median Forecast)
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16E
31. 3131DECEMBER 2016 For updated information, please visit www.ibef.org
PRIVATE FUNDING BEING ENCOURAGED TO REDUCE FINANCE CONSTRAINTS … (2/3)
ROADS
Cumulative FDI Inflows (USD billion)
Source: DIPP, TechSci Research FY17: Till Sep 2016
Cumulative FDI inflows into the construction development
sector, including roads and highways have reached
USD24.25 billion over April 2000 to September 2016, i.e.
FY2017
8.06
9.18
11.43
22.08
23.31 24.07 24.18 24.25
FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17
32. 3232DECEMBER 2016 For updated information, please visit www.ibef.org
ROADS
PRIVATE FUNDING BEING ENCOURAGED TO REDUCE FINANCE CONSTRAINTS … (3/3)
% of BOT share in different phases of NHDPNHDP’s Phase I and Phase II were mostly developed by
public funds with BOT’s share at 14.8 per cent and 29.6 per
cent, respectively
The PPP model will be the favoured route for executing the
remaining phases of NHDP
14.8%
29.6%
95.9%
83.1%
100.0%
100.0%
100.0%
Phase I
Phase II
Phase III
Phase IV
Phase V
Phase VI
Phase VII
Source: NHAI, MoRTH, TechSci Research
Note: NHDP - National Highway Development Phase,
BOT - Build Operate Transfer
Year of Approvals for Phase I: December 2000
Phase II: December 2003
Phase III: April 2007
Phase IV: February 2012
Phase V: October 2006
Phase VI: November 2006
Phase Vii: December 2007
33. 3333DECEMBER 2016 For updated information, please visit www.ibef.org
POLICY INITIATIVES IN THE RIGHT DIRECTION … (1/2)
ROADS
Source: Make in India, Union Budget 2015-16, Union Budget 2016-17, TechSci Research,
Notes: FDI - Foreign Direct Investment, FII - Foreign Institutional Investors
Infrastructure – a key
government priority
• Infrastructure investment is a major focus area for the government
• The government earmarked USD500 billion for infrastructure in the 11th Five-Year Plan
(FY08–12); the amount is set to double to USD1 trillion in the 12th Five-Year Plan (FY13–
17)
Support from the Union
Budget
• The planned outlay under the Union Budget 2016 -17 for development of road transport
and highways has been stepped to USD14.5 billion
• In 2015, highest number of contracts were awarded for construction of new highways.
Moreover, as per Union Budget 2016-17, the government has set targets to approve
almost 10,000 kilometres of national highways,
Rural development
• The Prime Minister’s Gram Sadak Yojana (PMGSY) is a scheme for development of rural
roads in India
• Under the Union Budget 2016-17, Government of India allocated an investment of
USD14.82 billion for the road sector, including a budget for Pradhan Mantri Gram Sadak
Yojana (PMGSY)
Taxes and other sops
• Companies enjoy 100 per cent tax exemption in road projects for five years and 30 per
cent relief over the next five years
• Companies have been granted a capital of up to 40 per cent of the total project cost to
enhance viability
34. 3434DECEMBER 2016 For updated information, please visit www.ibef.org
ROADS
Issue of tax-free
infrastructure bonds
• Infrastructure finance companies, such as India Infrastructure Finance Corporation
(IIFCL), National Highways Authority of India (NHAI), Housing and Urban Development
Corp (HUDCO), Power Finance Corporation (PFC) and India Railway Finance Corporation
(IRFC), have been permitted to issue tax-free bonds for a total value of USD3.27 billion for
FY15; promotion of infrastructure debt funds is the top agenda
• As a part of Union Budget 2016-17, bonds worth USD2.2 billion are being planned to be
raised by National Highway Authority of India (NHAI)
Encouragement of
Infrastructure Debt
Funds (IDFs)
• Government of India has set up the India Infrastructure Finance Company (IIFCL) to
provide long-term funding for infrastructure projects
• Interest payments on External Commercial Borrowings for infrastructure are now subject
to a lower withholding tax of 5 per cent vis-à-vis 20 per cent earlier
• IDF income is exempt from income tax
Central Road Fund
(CRF)
• The Central Road Fund (CRF) assists the state government and union territories in the
development of state roads
• For FY17, USD8.2 billion has been allocated specifically for the development of roads
POLICY INITIATIVES IN THE RIGHT DIRECTION … (2/2)
Investment in roads
and other infrastructure
• Existing excise duty on petrol and diesel has been changed to road cess to the extent of
INR 4 per litre to fund investment in roads and other infrastructure.
• Out of USD33 billion, allocated for the progress of infrastructure, USD14.5 billion has been
assigned for the construction sector, including construction of roads and highways in India,
as per Union Budget 2016-17
35. 3535DECEMBER 2016
RECENT BOT PROJECTS AWARDED BY NHAI
Source: NHAI, MoRTH, TechSci Research
Notes: BOT - Build Operate Transfer, UB - Union Budget, Km – Kilometre
ROADS
•Project
•Length
•(Km)
•Cost
(USD
million)
Year • Company
4 Laning of Fagne - Mah-Guj Border ( PKG-3) 140.79 308.83 2015 M/s IL& FS Transportation Networks Ltd
8 Laning of Mukarba Chowk to Panipat 69.84 348.63 2015 M/s Essel Infraprojects Ltd
6 laning of Agra - Etawah bypass 124.5 NA 2015 M/s IRB Infrastructure Developers Ltd
Four Laning of Solapur - Bijapur 109.8 228.5 2015 Uniquest Infra Ventures Pvt Ltd
4 Laning of Guna to Biaora 93.5 168.03 2015 M/s Dilip Buildcon Ltd
4 laning of Biaora - Dewas 141.26 262.73 2015 M/s Oriental Structural Engineers Pvt Ltd
Vadodara-Surat Section 6.7 86.9 2012 HCC Concessions Ltd
Walajapet-Poonamalee 93.0 236.6 2015 ESSEL Infra Projects Ltd
4 Laning of Coimbatore- Mettupalayam 53.9 108.8 2014 Transstroy-OJSC Consortium
4-Laning of Goa/Karnataka Border-Kundapur
Section
187.3 304.1 2012 IRB Infrastructure Developers Ltd
4-Laning of Walayar - Vadakkancherry section 54.0 125.3 2015 KNR Constructions
2-Lane with paved shoulder with provision of
Capacity Augmentation of Rajasthan Border-
Fatehpur-Salasar Section
154.1 97.4 2014 Galfar Engineering Contracting SAOG
4-Laning of Kashipur-Sitarganj Section 77.2 111.3 2013 Galfar Engineering Contracting SAOG
4-Laning of Rajsamand-Gangapur-Bhilwara 87.2 124.5 2014 Sadbhav Engineering Limited
4-Laning of Rohtak-Hissar Section 98.8 176.2 2013 Sadbhav Engg. Limited
4-Laning of Khed-Sinnar Section 137.9 247.7 2013 IL&FS Transportation Networks Ltd
For updated information, please visit www.ibef.org
36. 3636DECEMBER 2016
2.8
3.5 3.2
8.0 7.8
6.6 6.5
7.1
14.5
FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17
BUDGETARY OUTLAY FOR ROADS
ROADS
Outlay for roads under the respective Union
Budgets (USD billion)
Roadways has been the key focus area for budget
allocations over the years
As per Union Budget 2016–17, the government provided an
outlay of USD14.5 billion for the road sector
Between FY09 and FY17, budget outlay for road transport
and highways increased at a robust CAGR of 22.8 per cent
In FY17, GOI is planning to approve 10,000 kilometres of
national highways in India. Also, GOI, is setting a budget to
raise USD2.2 billion in the form of NHAI bonds
Source: Respective Union Budgets, TechSci Research
Note: CAGR - Cumulative Annual Growth Rate, GOI – Government of India,
NHAI – National Highway Authority of India
For updated information, please visit www.ibef.org
CAGR: 22.8%
38. 3838DECEMBER 2016
6491
1165
1435
5000
6397
FY12 FY13 FY14 FY15 FY16
7142
11809
13203
6500
1000 700
NS & EW
Ph. I & II
NHDP III NHDP IV NHDP V NHDP VI NHDP VII
For updated information, please visit www.ibef.org
FUTURE PROSPECTS REMAIN BRIGHT FOR THE ROAD SECTOR … (1/3)
Projects awarded (in kilometres)
National Highway Development Project (NHDP) is a seven phase project amounting to USD60 billion. The projects aims to
widening, up-gradation, and rehabilitation of 47,054 kilometres of national highways
Ministry of Road Transport and Highways (MoRTH) aims construction of over 10,000 kilometres of road projects during
2016-17
NHAI awarded 79 road projects covering 6,397 kilometres in FY161
Projects awarded (in kilometres) by NHDP as of
30th June 2016
Source: NHAI, MoRTH, TechSci Research
Notes: NHDP stands for National Highways Development Project, FY161 – Data till December 2015
ROADS
1
39. 3939DECEMBER 2016 For updated information, please visit www.ibef.org
ROADS
PPP opportunities over the next five years
(2014-15 to 2018–19) (USD billion)
Development of National Highways through PPP is
expected to remain the key focus area for the government
During the period FY15 to FY19, investments through PPP
are expected to be over USD31 billion for National
Highways and around USD10 billion for state highways
Source: NHAI, MoRTH,
Make In India, TechSci Research
FUTURE PROSPECTS REMAIN BRIGHT FOR THE ROAD SECTOR … (2/3)
36
84
National Highways State Roads and Rural Roads
40. 4040DECEMBER 2016
78.6%
14.2%
3.3%
3.9%
Two Wheelers
Passenger Vehicles
Commercial Vehicles
Three Wheelers
9.7
10.9 10.7 11.1
14.1
18.0
20.7 20.5
21.5
23.3 23.9
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
For updated information, please visit www.ibef.org
ROADS
Total vehicle’s growth (million units)In India, roads remain the most important means of
transport, accounting for around 80 per cent of the
passenger traffic and 65 per cent of the freight traffic
Number of total vehicles in India increased at a CAGR of
9.4 per cent during the period of FY06-16, from 9.7 million
to 23.9 million
As of FY16, two wheelers accounted for 78.6 per cent of the
total number of vehicles in India
Source: SIAM Report, TechSci Research
Note: SIAM - Society of Indian Automobile Manufacturers
Bifurcation of vehicles by category: FY16
FUTURE PROSPECTS REMAIN BRIGHT FOR THE ROAD SECTOR … (3/3)
CAGR: 9.4%
41. 4141DECEMBER 2016 For updated information, please visit www.ibef.org
OPPORTUNITIES AND THE REASSURANCE OF CONTINUED POLICY FOCUS1
Source: NHAI, MoRTH, Union Budget, TechSci Research, News articles,
Notes: FDI - Foreign Direct Investment, FII - Foreign Institutional Investor, EPC - Engineering, Procurement and Construction,
ECB - External Commercial Borrowings, WHT - Withholding Tax, DDT - Dividend Distribution Tax, BRO-Border Roads Organisation;
1 - Figures mentioned in this slide are as per latest data available
ROADS
Significant potential for
construction & EPC
companies
• Under the 12th Five-Year Plan,
the government targets to
develop national highways at
the rate of 20 km per day
• India’s construction sector, is
projected to grow at 7 – 8 per
cent each year over the next
decade(till 2025); the sector is
now expected to become the
world’s third largest by 2025
• India’s construction market was
USD157 billion for FY14, an
increase of USD4 billion over
FY13
Strong focus on infrastructure
• Infrastructure spending is
expected to reach USD1 trillion
in the next Five-Year Plan
(FY12–17)
• Under Union Budget 2015 –
16, government plans to
connect 1,78,000 unconnected
habitations by all weather
roads. This would require
completion of existing 1,00,000
kms of roads under
construction plus sanctioning of
additional 1,00,000 kms of
roads
Major government initiatives
to boost private and foreign
investment
• An increase in FII limit in
infrastructure corporate bonds
from USD5 billion to USD25
billion in FY12 was a step in
the right direction
• Cumulative FDI inflows, from
April 2000 to March 2016, in
construction development &
infrastructure sector (including
roads and highways) reached
USD24.18 billion
• New wing to oversee the
development of roads in
strategic areas
43. 4343DECEMBER 2016
369.8
548.6
695.0 702.9
619.1
657.0
783.7
FY10 FY11 FY12 FY13 FY14 FY15 FY16
For updated information, please visit www.ibef.org
IRB INFRASTRUCTURE LIMITED … (1/2)
ROADS
Revenue Trend: IRB Infrastructure Limited
(USD million)
IRB Infrastructure is one of the leading BOT operators in
India, with a built-length of around 9,846 lane kilometres
IRB has 20 BOT projects, of which 14 are operational, as on
March 2016
As of 31 March 2016, IRB Infrastructure’s order book
aggregated USD1.49 billion
The company has an 11.07 per cent share in the Golden
Quadrilateral project
During FY10-16, company’s revenue increased at a CAGR
of 11.3 per cent
Source: Company Annual Report & Corporate Presentation, TechSci Research
Notes: CAGR - Compounded Annual Growth Rate,
BOT – Build Operate Transfer
CAGR: 11.3%
44. 4444DECEMBER 2016 For updated information, please visit www.ibef.org
ROADS
Source: Company Annual Report, News articles, TechSci Research
IRB INFRASTRUCTURE LIMITED … (2/2)
• Won the first ultra-
mega NHAI road
project worth
USD750 million
• Received financial
closure for
Ahmedabad
Vadodara Project
2011
2012
2013
2014
• Signed contract
with NHAI for four-
laning of NH-17
from Goa/
Karnataka to
Kundapur
• Acquired MVR
Infrastructure and
Tollways Pvt Ltd
2015-16
• Signed a contract
with NHAI for the
development of
highways in
Haryana for
USD373 million
• Preferred Bidder for the
Six Laning of Agra –
Etawah section of NH – 2
project
• In FY16, the company
recorded USD783.7
million revenue from
operations
45. 4545DECEMBER 2016
255
502
843
1222.1 1250
1128.5 1132.7
727.5
FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
For updated information, please visit www.ibef.org
IL&FS TRANSPORTATION NETWORKS LIMITED (ITNL) … (1/2)
ROADS
Revenue trends: IL&FS Transportation
Networks Limited (USD million)
ITNL has the largest BOT road asset portfolio (in terms of
lane kilometres) in India, with presence in 17 states
The company has 14,680 lane kilometres under its road
asset portfolio, comprising 30 BOT road projects
In 2013, ITNL signed a MoU with a Japanese expressway
development company, Nippon Expressway
Company(NEXCO East) to work on PPP projects
ITNL emerged as the lowest bidder for two highway projects
in Maharashtra worth USD692.43 million in June 2015
The company was awarded Global Road Achievement
Award for the improvement of Thiruvananthapuram City
Roads Project
As of September 2016, the company has received in-
principle approval from SEBI for registration of IL&FS
Transportation Investment Trust.
Source: Company website, Company Annual Report, TechSci Research
Notes: CAGR - Compounded Annual Growth Rate,
BOT - Build Operate Transfer, Km – Kilometers
CAGR: 16.2%
46. 4646DECEMBER 2016 For updated information, please visit www.ibef.org
ROADS
Source: Company Annual Report, TechSci Research
• Was awarded a
contract for
1,086 lane
kilometres for a
total
consideration of
USD1.5 billion
• Was awarded an
order for 1,129 lane
kilometres for a
total value of
USD1.5 billion
• Four-laning of
Beawer-Gomti
Road Project
2010
2011
2012
2013
• Won a USD312
million contract for
the six-laning
Barwa-Adda-
Panagarh sector
of National
Highway 2
2014-16
• Won a road contract worth
USD216.7 million in Botswana,
through its subsidiary Elsamex SA
• Commercial operation of Warora
Chandrapur Ballarpur Bamni Road
Project has been started
• Won a project to widen roads of
127 km long Patna-Gaya-Dobhi
section of NH 83 in Bihar for a
consideration of USD205 million
• In FY16, company’s revenues
stood at USD727.5 million
IL&FS TRANSPORTATION NETWORKS LIMITED (ITNL) … (2/2)
47. 4747DECEMBER 2016
17.2
17.9
18.9
19.9 19.8
19.4
20.4
19.7
FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
For updated information, please visit www.ibef.org
NOIDA TOLL BRIDGE COMPANY LIMITED (NTBCL)
ROADS
Revenue trends: Noida Toll Bridge
(USD million)
Infrastructure Leasing and Financial Services Ltd (IL&FS)
promoted National Toll Bridge Company Limited (NTBCL)
as a special purpose vehicle (SPV) for the development of
the 22-km Delhi-Noida Direct (DND) flyway on a Build Own
Operate Transfer (BOOT) basis
Incorporated in Uttar Pradesh, India, in 1996, NTBCL is a
publicly listed company and operates only in the country
Source: Company Annual Report, TechSci Research
Salient features
• Eight-lane dual carriageway connecting Noida and Delhi
• One major and three minor bridges over Yamuna river
• Eight-lane approach road on embankment
• 31-lane, 200m-wide, fully computerised toll plaza
• Extensive tree planting and landscaping
• Noise barriers and river training works
CAGR: 2%
49. 4949DECEMBER 2016
INDUSTRY ASSOCIATIONS
Ministry of Roads Transport and Highways
Transport Bhavan
1, Parliament Street
New Delhi –110001
Phone: 91-11-23719097, 23719955
E-mail: ifcmost@nic.in
National Highway Authority of India
G 5 and 6, Sector 10, Dwarka
New Delhi – 110 075
Phone: 91-11-25074100, 25074200
Fax: 91-11-25093507, 25093514
Indian Roads Congress
Sector 6, (Near RBI Quarters), RK Puram, New Delhi – 110022
Phone: 91-11-26185303
Secretariat: 91-11-26716778, 26183669, 26185273, 26185315,
26185319
Fax: 91-11-26183669
E-mail: secretarygen@irc.org.in
For updated information, please visit www.ibef.org
ROADS
50. 5050DECEMBER 2016
GLOSSARY
BOT: Build Operate Transfer
CAGR: Compound Annual Growth Rate
EPC: Engineering, Procurement and Construction
FDI: Foreign Direct Investment
FY: Indian Financial Year (April to March) – So FY10 implies April 2009 to March 2010
GOI: Government of India
INR: Indian Rupee
LCV: Light Commercial Vehicles
MoRTH: Ministry of Roads Transport and Highways
NH: National Highway
NHAI: National Highway Authority of India
NHDP: National Highway Development Project
USD: US Dollar – Conversion rate used: USD1= INR54.43
For updated information, please visit www.ibef.org
ROADS
51. 5151DECEMBER 2016
Year INR equivalent of one USD
2004–05 44.81
2005–06 44.14
2006–07 45.14
2007–08 40.27
2008–09 46.14
2009–10 47.42
2010–11 45.62
2011–12 46.88
2012–13 54.31
2013–14 60.28
2014-15 61.06
2015-16 65.46
2016-17 (E) 66.95
Year INR equivalent of one USD
2005 43.98
2006 45.18
2007 41.34
2008 43.62
2009 48.42
2010 45.72
2011 46.85
2012 53.46
2013 58.44
2014 61.03
2015 64.15
2016 (Expected) 67.22
Exchange rates (Fiscal Year)
For updated information, please visit www.ibef.org
EXCHANGE RATES
Exchange rates (Calendar Year)
ROADS
Source: Reserve bank of India,
Average for the year
52. 5252DECEMBER 2016
India Brand Equity Foundation (IBEF) engaged TechSci to prepare this presentation and the same has been prepared
by TechSci in consultation with IBEF.
All rights reserved. All copyright in this presentation and related works is solely and exclusively owned by IBEF. The
same may not be reproduced, wholly or in part in any material form (including photocopying or storing it in any
medium by electronic means and whether or not transiently or incidentally to some other use of this presentation),
modified or in any manner communicated to any third party except with the written approval of IBEF.
This presentation is for information purposes only. While due care has been taken during the compilation of this
presentation to ensure that the information is accurate to the best of TechSci and IBEF’s knowledge and belief, the
content is not to be construed in any manner whatsoever as a substitute for professional advice.
TechSci and IBEF neither recommend nor endorse any specific products or services that may have been mentioned in
this presentation and nor do they assume any liability or responsibility for the outcome of decisions taken as a result of
any reliance placed on this presentation.
Neither TechSci nor IBEF shall be liable for any direct or indirect damages that may arise due to any act or omission
on the part of the user due to any reliance placed or guidance taken from any portion of this presentation.
For updated information, please visit www.ibef.org
DISCLAIMER
ROADS