AFTER FACING LAND acquisition hurdles in Maharashtra for more than three years, the country’s first high-speed or bullet train project appears back on track, after a new government came to power in the state in June 2022. The progress is welcome after the sharp slowdown in the pace of work witnessed during the previous Uddhav Thackeray-led Maha Vikas Aghadi government’s 31-month tenure from November 2019, which often led to speculation that the Mumbai-Ahmedabad corridor, already three years behind schedule, might get delayed further. Thackeray had gone on record criticising the high-profile project, and questioned its benefits.
However, one challenge remains: the state’s bid to acquire 9.69 acres of land belonging to Godrej & Boyce Manufacturing Co. in Mumbai’s Vikhroli has not yet come through. In a plea filed with the Bombay High Court, the company has described the move as “illegal and bad in law”. Challenging the state’s civil suit, it has questioned an amendment to the Land Acquisition Act of 2013, exempting the project from social impact assessment and described the ₹264-crore compensation offered as “inadequate”, compared to the ₹572 crore proposed earlier. Since 2019, the state government and the company have been locked in a bitter dispute over the land that is proposed to be developed as an entry point to the underground part of the project.
Opposing the Godrej & Boyce petition on behalf of the National HighSpeed Rail Corporation Ltd (NHSRCL) and the Central government, Additional Solicitor General Anil Singh told the High Court bench of Justice R.D. Dhanuka and Justice M.M. Sathaye that the delay had resulted in a cost escalation of up to ₹1,000 crore.
Esta historia es de la edición January 22, 2023 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición January 22, 2023 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
"OFFER MORE SOPS FOR THE NEW TAX REGIME”
Dinesh Kanabar, CEO of Dhruva Advisors, on the tax-related measures expected in the Budget, reforms, and more
IN SEARCH OF A BOOSTER SHOT
TO BOOST GROWTH, THE GOVERNMENT MAY FOCUS ON INCREASING CAPEX AND BOOSTING DOMESTIC CONSUMPTION, PARTICULARLY TARGETING THE MIDDLE CLASS. THIS COULD PROVIDE A FILLIP TO STOCKS IN THOSE SECTORS
HEALTH BOOST
THE HEALTHCARE SECTOR IS EXPECTED TO RECEIVE A SHOT IN THE ARM IN BUDGET 2025-26, WITH A FOCUS ON PRIMARY HEALTHCARE, DIGITAL HEALTH, AND BOOSTING PHARMACEUTICAL MANUFACTURING AND RESEARCH. BUT CHALLENGES LIKE THE SHORTAGE OF HEALTHCARE PROFESSIONALS REMAIN
"Indian aviation to see double-digit growth for the next 30 years"
Vinay Dube, Founder & CEO of Akasa Air, on the country's aviation sector, why the airline was set up, and more
TIME TO BE SMART
This year could be a good time to take home some profits, reduce risk, and shift to large-cap investments
CLOTHES MAKETH A MAN
THE MEN’S LUXURY MARKET IN INDIA, ONCE A NICHE SEGMENT, IS WITNESSING AN EXTRAORDINARY RISE AND IS THRIVING, THANKS TO SOCIAL MEDIA AND RISING DISPOSABLE INCOMES
Front-running Redux
Ketan Parekh has again been accused by Sebi. This time the allegations are of front-running, an unethical practice in financial markets
Triumph of Engineering
The Udhampur-Srinagar-Baramulla Railway Line in J&K is set to expedite trade and tourism
MAKING A MARK
IN A LANDSCAPE DOMINATED BY THE BIG FOUR ACCOUNTING FIRMS, DHRUVA ADVISORS HAS STRUCK IT BIG ON THE BACK OF ITS TAX AND REGULATORY ADVISORY SERVICES, ASSISTING SOME OF THE MARQUEE DEALS OF INDIA INC.
TIME FOR A TAX BREAK?
INDIVIDUAL TAXPAYERS LOOK FORWARD TO THE BUDGET EVERY YEAR HOPING FOR A BIG TAX BREAK. IT HAS ELUDED THEM FOR YEARS, BUT WITH HIGH INFLATION, MODERATING URBAN CONSUMPTION, AND ROBUST TAX COLLECTIONS, WILL THE MIDDLE CLASS GET A TAX BREAK IN FEBRUARY?