PM Virtually Inaugurates, Dedicates To Nation Over 2K Rail Infra Projects Worth Around Rs 41,000 cr

PM Virtually Inaugurates, Dedicates To Nation Over 2K Rail Infra Projects Wor...

by Swati Sucharita

New Delhi, Feb 26 (ANI): Prime Minister Narendra Modi on Monday inaugurated, laid the foundation stone, and dedicated to the nation over 2000 railway infrastructure projects worth around Rs 41,000 crores.

Addressing the event, PM Modi called it a symbol of the work culture of 'New India'.

"Today's programme is symbolic of New India's work ethic. Now, India works with an unprecedented speed at an unprecedented scale. Parting ways with small aspirations, today's India has moved on to dreaming big and realising those dreams at the earliest," the Prime Minister said.

He further affirmed confidence in returning the third term of the government.

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"Today, the foundation stone for more than two thousand projects related to railways has been laid and inaugurated. Right now, the third term of this government is going to start in June. The scale and speed with which work has started is surprising everyone," he said.

The Prime Minister laid the foundation stone for the redevelopment of 553 railway stations under the Amrit Bharat Station Scheme.

According to a government release, these stations, spread across 27 states and Union Territories, will be redeveloped at a cost of over Rs 19,000 crore. These stations will act as 'City Centres', integrating both sides of the city.

Speaking on occasion, Railways Minister Ashwini Vaishnaw thanked the Prime Minister for the projects, vowing to transform the industry.

Further, PM Modi inaugurated Gomti Nagar station in Uttar Pradesh, which has been redeveloped at a total cost of around Rs 385 crore.

To cater to the increased future passenger footfall, this station has segregated arrival and departure facilities. It integrates both sides of the city. This centrally air-conditioned station has modern passenger amenities like air concourse, congestion-free circulation, food courts and ample parking space in the upper and lower basement, a government release said.

The Prime Minister also laid the foundation stone, inaugurated and dedicated to the nation 1500 road bridges and underpasses.
These road overbridges and underpasses are spread across 24 states and Union Territories, the total cost of these projects is around Rs 21,520 crore. These projects will reduce congestion, enhance safety and connectivity, and improve the capacity, and efficiency of rail travel.

(ANI)

Foreign Portfolio Investments Drop To Rs 2,916 Cr On Back Of High Valuations, Capital Gain Tax Hike

by Shambhu Datta Mishra

New Delhi, July 27: Net investments by Foreign Portfolio Investors (FPIs) in the Indian equity market declined to Rs 2,916 crore for the week ending July 26, due to investor selling amid budget uncertainty.

As per data from the National Securities Depository Limited, last week foreign investors injected Rs 15,420 crore into Indian markets, but their buying declined significantly for the week July 22-26.

So far in July, the net investment by FPIs in the equity market stands at Rs 33,688 crore. This year's total investment by foreign investors has now surged to Rs 1,39,010 crore.

"The Budget 2024-25 has not sparked any significant excitement in the market, while it was both populist and prudent. The increase in short- and long-term capital gains taxes added to the volatility on budget day. Although the government's emphasis on fiscal discipline and growth is appealing, FIIs are cautious due to current high valuations and muted expectations for Q1FY25 results" said Vinod Nair, Head of Research at Geojit Financial Services.

He further added, "Meanwhile, DIIs continue to employ a 'buy on dips' strategy, which contributed to market gains on the week's last trading day, particularly in the pharma, auto, metal, IT, and FMCG sectors."

The volatility of FPI flows extends beyond India, affecting other markets as well. Countries like Brazil, Indonesia, Malaysia, Philippines, and South Korea have witnessed FPI inflows this week while the markets in Taiwan, Thailand, and Vietnam have experienced outflows.

"Market focus has swiftly moved on from the Union Budget, unveiled in the week, to the ongoing Q1FY25 earnings season. The FY2025 Union Budget delivered a judicious balance between capital expenditure, fiscal prudence, and welfarism. FPI flows are expected to remain volatile" said Shrikant Chouhan, Head of Equity Research, Kotak Securities.

This year's trend in foreign investment has been erratic. Foreign investors were net sellers in January, April, and May, cumulatively selling equities worth around Rs 60,000 crore. However, they turned into net buyers in February, March, and June, with cumulative purchases amounting to Rs 63,200 crore.

(ANI)

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Raj & DK To Bring Action Fantasy Drama 'Rakt Bramhand'; Call It 'Uncharted Territory'

by Shambhu Datta Mishra

Mumbai, July 27: Filmmaker duo Raj & DK are gearing up to bring their first action-fantasy series, 'Rakt Bramhand - The Bloody Kingdom', which they describe as 'uncharted territory', making it all the more thrilling for them.

The makers took to social media and shared the announcement, dropping an intriguing poster featuring a massive bejeweled throne with blood spots.

The post was captioned: "We've got BIGGGGG news that'll stir your blood! We're pumped to announce our first ever action-fantasy series... now filming."

The series promises a gripping, edgy narrative set against the backdrop of a fantastical kingdom, complete with bloody action and spectacular visuals.

For this project, Raj & DK have partnered with director Rahi Anil Barve and long-time collaborator Sita R. Menon, under their production company, D2R Films.

In a statement, Raj & DK said: "This is uncharted territory, which makes it all the more thrilling for us. Our goal is to develop a fictional world that is both original and reminiscent of the fantastical tales we have heard in our childhood."

"We are having an amazing time working with the very talented Rahi and our uber versatile partner Sita to bring this unique vision to life. Working with Netflix has been excellent, and we have their enthusiastic support to back the unconventional vision for Rakt Bramhand," they added.

Monika Shergill, Vice President of Content at Netflix India, added: "After the outstanding success of the genre-bending 'Guns & Gulaabs', we're thrilled to team up with the masterful duo of Raj & DK for another defining series. 'Rakt Bramhand - The Bloody Kingdom' will be Netflix India’s first-ever mega action-fantasy series and is set to redefine the genre by combining grand-scale action with a thrilling storyline."