The Hindu 04.11.2009

Priority for urban infrastructure: Montek

Staff Correspondent

A MILESTONE: Deputy Chairman of the Planning Commission Montek Singh Ahluwalia inaugurating the Knowledge Centre of T.A. Pai Management Institute in Manipal on Tuesday.

Manipal: Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said on Tuesday that the country should give priority to infrastructure development.

Mr. Ahluwalia was inaugurating the Knowledge Centre at the T.A. Pai Management Institute (TAPMI) here.

He said that huge investment was required in power sector, roads and urban infrastructure. India had the lowest urbanisation. Only 30 per cent of India’s population lived in urban areas. Provision of urban infrastructure posed a challenge. The State governments and the urban local bodies had to raise funds for urban infrastructure.

Less than 20 per cent of GDP came from agriculture, but 50 per cent of the population was dependent on it. But agriculture could grow at only 4 per cent. It was not a good sign that too many people were depending on agriculture.

There was a possibility of 100 per cent increase in agricultural productivity if right inputs were provided. Agricultural transformation would not take place unless it was financed.

Because of the National Rural Employment Guarantee (NREG) Scheme, there had been an increase in the number of bank accounts. Financial inclusion was essential in the country. Indian economy could not grow at 9 per cent, if it was not integrated globally. “We cannot have protective walls,” he said.

The country required foreign investment. The financial sector should learn to cope with the opening up of the economy. At present, the economy had been only partly opened up. There was tension between financial innovation that led to risk and financial innovation which led to efficiency.

The western world had not used financial innovation properly. India was following a balanced approach. “We need to keep our minds and options open,” he said.

India could not be transformed into a rapidly growing economy unless the financial sector took the lead. There was no opposition on the issue of financial regulation.

The Hindu 01.10.2009

Consultant for GHMC’s new complex

Special Correspondent

HYDERABAD: Mumbai based Premnath & Associates has been chosen prime consultant for taking up the Rs. 50 crore new GHMC’s office-cum-council hall complex to come up over an acre area on the lower Tank Bund Road.

Senior officials said that the agency was short-listed last week from among the four agencies (Stup Consultants (Mumbai), DKC Associates (New Delhi) and DESP Developers (New Delhi) which responded to a tender offer floated by the Municipal Corporation few months ago.

The chosen agency will not only help finalise the tender process for selecting a private contractor for taking up the prestigious project but will also oversee the construction work. Besides, Premnath & Associates will be submitting prospective architectural plan for the proposed 15-storied complex .

The prospective contractor’s building plan will have to be based on the design made by the agency and also stick to the ‘green building’ concept. The agency will be paid Rs. 1.5 crore for their services.