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Infrastructure
GOI provides INR 1.73 Trillion for Infrastructure Sector for the Financial Year 2010-2011
The GOI in the budget for the Financial Year (“FY”) 2010-2011 has allocated INR 1.73 Trillion for the development of infrastructure in the country which accounts for over 46 per cent of the total plan allocation for the FY 2010-2011.
Certain important and recent legal developments in this area are set out below.
Infrastructure
GOI provides INR 1.73 Trillion for Infrastructure Sector for the Financial Year 2010-2011
The GOI in the budget for the Financial Year (“FY”) 2010-2011 has allocated INR 1.73 Trillion for the development of infrastructure in the country which accounts for over 46 per cent of the total plan allocation for the FY 2010-2011.
National Highways Authority of India Tightens Norms for Sub-Contractor
In order to ensure the quality of roads being built, National Highways Authority of India (“NHAI”) has tightened the eligibility norms for the sub-contractors engaged by a concessionaire. The new minimum eligibility clause states that the sub-contractor must have the experience of completing at least a single highway project of 20 per cent value of the estimated project cost in the preceding 5 years from the date of execution of the current project.
Authors:
Sunil Seth (sunil.seth@sethdua.com) and Atul Dua (atul.dua@sethdua.com) are Senior Partners with Seth Dua & Associates, Solicitors & Advocates, India.