The BMC, in three years from 2007-08 to 2009-10 , allowed contractors who recently bagged a major roads contract to increase costs in 17 major projects by an average of 51.5 per cent. The projects, executed and tendered separately , were originally pegged at a total of Rs 292 crore, but the escalations were to the tune of Rs 150.43 crore, boosting the final project costs to Rs 442.43 crore

If rising interest rates are compelling you to stall the idea of purchasing a house then think again. When it comes to buying property any time is a good time. While interest rates are cyclical, real estate prices progress in a linear fashion and always head north. The advice holds good especially for Jaipur, shows global research agency CRISIL.

The government is expected to clear a new financing tool on Friday, which would help infrastructure project developers access funds at a cheaper rate based on a guarantee and also free funds for banks to lend to industry and retail borrowers. To begin with, this product-called credit enhancement-would provide funding support of around Rs 15,000 crore.

Realising that it cannot continue to ignore public outcry over the sorry state of Mumbai’s roads, the state government on August 4 ordered agencies responsible to fill all potholes within 48 hours. The government is also thinking of long-term solutions and is planning to change the way road contracts are assigned.

The Brihanmumbai Municipal Corporation (BMC) has been insisting that the bigger companies that handle infrastructure projects have their own reasons for staying away from bidding for the Rs 550-crore road project, but a close look at clauses and conditions in the tender show that they are designed unattractively for anyone but its usual set of contractors.