Larsen and Toubro was issued the Letter of Acceptance on Saturday for the design and construction of an elevated viaduct including associated works between Heelalige and Rajanukunte of Corridor-4 of the Bengaluru Suburban Rail project, officials said.

The contract price is Rs 1,040.51 crore including GST and the contract period is 30 months. The physical work is expected to commence shortly, they said.

In a statement, Karnataka’s Rail Infrastructure Development Company (K-RIDE) said, “Larsen and Toubro has been issued the Letter of Acceptance today for the design and construction of elevated viaduct of length 8.960 km and At-Grade of length 37.920 km (excluding station buildings) including associated works between Heelalige and Rajanukunte, on EPC (Engineering, Procurement and Construction) mode, in Corridor-4 or ‘Kanaka’ line of Bengaluru Suburban Railway Project (BSRP).” This contract also includes construction of a double decker alignment of 1.2 km length for BSRP Corridor-1 and Corridor-4 near Yelahanka, construction of a BSRP elevated viaduct of length 500 m below BMRCL (Bangalore Metro Rail Corporation Limited) viaduct near Benniganahalli, duly sharing right of way between BSRP and BMRCL. This is first of its kind in India, it said.

“Previously, the work of Corridor-2 (Chillabanawara to Baiyappanahalli for 25.2 km) was also awarded to L&T and the construction activities are going on in full swing. With the current tender award, total length of 72.08 km of civil work (elevated and at-grade for BSRP has been awarded, which is around 50 per cent of BSRP total project alignment. Corridor 2 and 4 were the phase-1 priority corridors as fixed by Government of Karnataka,” K-RIDE said.

Meanwhile, the tender for Corridor-1 and Corridor-3 will also be invited shortly, it added.

South Western Railways is in the advance stage of handing over the Railway land (115.5 acres) to Corridor-4 and is expected soon, the statement added.

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According to the latest data released by the Reserve Bank of India,  India’s foreign exchange reserves increased by USD 4.471 billion to USD 620.441 billion in the week  ended  December 22, 2023,  reaching  a 21-month  high . In calendar year 2023, the RBI added about $58 billion to its foreign exchange fund. 

 New Delhi [India], December 31: 

 According to  the latest data released by the Reserve Bank of  India,  India’s foreign exchange reserves increased by USD 4.471 billion to USD 620.441 billion in the week  ended  December 22, 2023,  reaching  a 21-month  high .  In  calendar year 2023, the RBI added about  $58  billion to its foreign exchange  fund.  

 Last week, India’s foreign  exchange  assets (FCA), the  largest  component of  foreign exchange  reserves,  increased by $4.698  billion to  $549.747  billion,  according to  the central bank’s weekly statistical  data.  In 2022, India’s  foreign exchange currency fell by a total of $71 billion.  

  However, gold  reserves during the  week decreased  by  102 million  USD  to  474.74  billion USD.  

  Foreign exchange  reserves, or foreign exchange reserves  (foreign exchange  reserves), are assets  held by a  country’s  central bank or monetary authority. 

  It is  typically  held in reserve currencies,  typically  the US  dollar and  to a lesser  extent  the Euro, Japanese  Yen  and  British Pound.  

 Before last  week ending  December 15, India’s foreign exchange reserves increased by  $9.112  billion to  $615.971  billion.  In October 2021, the country’s foreign exchange reserves  reached  an all-time high of about  $645  billion. Much of the decline,  although not significant  on a cumulative basis, since then can be attributed to  rising prices  of imported goods in 2022. 

  Furthermore,  the relative  decline  in  foreign exchange  reserves  is  largely due to the RBI’s  occasional intervention  in the market to  hedge  the subsequent depreciation  of  the rupee against  the appreciation of the  US dollar. 

  In general,  the  RBI sometimes  intervenes in the market through liquidity management, including  selling  dollars, to avoid sharp depreciation  of  the rupee.  

 The RBI closely monitors the foreign exchange  market  and intervenes only to maintain orderly market conditions by  preventing  excessive volatility in  exchange  rates  without reference to  an established  target level or band.  Predefined.

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  Ayodhya Dham Junction Railway Station, developed at a cost  in excess of  Rs 240 crore,  comprises  a modern three-storey building equipped with  modern amenities  including lifts, escalators,  dining areas  and  security  rooms.  protect children.  

 Union Railway Minister Ashwini Vaishnaw  inspected the renovated Ayodhya railway station, stressing that it was built respecting the culture and traditions  of the  country.  Speaking  about  Prime Minister Narendra  Modi’s  vision, Vaishnaw highlighted the  continuous  development of railway stations and infrastructure in Ayodhya, with the Ayodhya Dham station reflecting the cultural ethos of the country. 

  The  minister highlighted  several new features in the  terminal renovation,  including  a  spacious  waiting  area and the construction of a  100-foot-wide rooftop  plaza. Prime Minister Narendra Modi is  expected  to inaugurate the Ayodhya Dham Junction  railway station. 

Square roof  

  Highlighting Prime Minister Modi’s  vision for  the station’s  redevelopment, Vaishnaw  said  the  prominent rooftop  plaza  is the main feature,  providing space for passengers to sit,  sell  local products  and  play games for children.  This feature will be standard  at  all  stations  being redeveloped.  

  Airport-worthy  features 

  Ayodhya Dham Junction Railway Station, developed at a cost  in excess of  Rs 240 crore,  comprises  a modern three-storey building equipped with  modern amenities  including lifts, escalators,  dining areas  and  security  rooms.  protect children.  The station is designed to be  “accessible to all”  and has received  green station  construction certification  from the Indian Green Building Council (IGBC).  It is important that  the development  is consistent  with the  wider  vision  of  Ayodhya beyond the  station.  Northern Railway  said  the construction of the three-storey building and  installation  of new amenities at the station, conveniently located within walking distance  of  the Ram  temple, has  cost  Rs 241 crore.  

 “The new station building has  an area  of  ​​140m x 32.6m.  An additional  awning measuring 140m x 12m  is also provided  above  the  train disembarkation area  to protect  passengers from adverse weather conditions,”  Northern  Railway said.  

 Officials clarified that the term “footprint” refers to the space available for people to move around. The new  terminal  includes separate  arrangements  for  passenger arrivals  and  departures, including lifts,  escalators, food  courts, puja shops, changing rooms and childcare rooms  to  create  passenger  comfort.  “We have  built attractive lounges  on the ground floor as well as  the first floor. The station building  will  be  “for everyone”  and has received IGBC certification for  the green station building,  commented Deepak Kumar,  Director,  Public  Relations,  Northern Railway. 

  Vande  Bharat and  Amrit Bharat  practice  

 The Prime Minister is  all  set to launch two new Amrit Bharat trains, namely  Darbhanga Terminal-Ayodhya-Anand  Vihar  Amrit Bharat Express and  Malda  Town Terminus-Sir  M. Visvesvaraya  (Bengaluru) Amrit Bharat Express. 

 Besides,  the Prime Minister will also inaugurate six new Vande Bharat  trains,  Shri Mata Vaishno Devi Katra-New Delhi Vande Bharat Express, Amritsar-Delhi Vande Bharat Express, Coimbatore-Bangalore Cantt Vande Bharat Express, Mangalore-Madgaon Vande Bharat  train.  Express, Jalna-Mumbai Vande Bharat  Express  and Ayodhya-Anand Vihar Terminal Vande Bharat Express.  

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 The Reserve Bank of India  recently projected  economic growth  of  7% in the current fiscal year, up from  6.5% previously.  

  The Indian  economy is expected to “comfortably” achieve a growth rate  of  above  6.5% in  the  fiscal year, the Ministry of Finance  said in its  Mid-Year Economic Review 2023  report on  Friday-24. 24 regardless of risks stemming from external factors.  

 The Reserve Bank of India  recently projected  economic growth  of  7% in the current fiscal year, up from  6.5% previously.  

 The  report noted that  better-than-expected growth in  the second quarter  of FY24  improved the growth  outlook  and prompted  many  domestic and international agencies to  revise up their  GDP growth  forecasts  for  FY24. ,  adding that  “momentum was  gained in  the second quarter of FY24”. will  likely  be  maintained.” also  in  the third trimester.  

 In  Q2FY24, India’s  GDP  grew  7.6%, about 60  basis points above  market expectations.  

 On capital spending, the  Ministry of Finance  said  the government  had “not compromised”  on its  long-term goal  of  increasing  capital  spending on manufacturing,  despite slowing  growth  in the first two months of  the second half of the fiscal year. 24.  In  the  first half of the year, annual  capital expenditure  growth was  43%, 7 percentage points  above budget growth and falling  to  about  30%.  

 Data released by the Controller General of Accounts on Friday showed that the  Centre’s  capital expenditure stood at Rs 5.86 trillion  during  April-November,  31 per cent  higher  than the same period last year.  In October and November,  investment  growth averaged (-)6.6%  compared to the  58.9%  increase  recorded in  the first half of the year.  

  The Ministry of Finance said: “…(Central) spending has  been  redirected to  the immediate requirement of  protecting  the vulnerable through  committed food  subsidies,  continued  fertilizer subsidies  and  increase  cooking gas  subsidies.”  

 On growth, the report  emphasized  that  high-frequency  indicators  in  October and November  reflected “strong”  economic activity.  The  S&P  Global  Purchasing  Managers’  Index of manufacturing and services remained in  expansion territory  in October and November. And  October  data from  IIP and  eight major  industries also  showed  sustained  growth. sustainability  in  production activities,  the report said. 

  However, the  core sector’s six-month  low  of 7.8% in November  suggests  some loss  of  momentum, which  could also  be reflected in the coming  months.  

 The ministry  said sentiment  in the services sector  remains optimistic  and  consumer demand  growth  is expected to be  maintained. “Urban  demand conditions  remained stable,  with higher growth in auto sales, fuel consumption and UPI  transactions. Rural  demand is also catching  up,” the report said. ,  as  evidenced by the strong  growth in  sales of two-  and  three-wheeled vehicles.”

 The ministry also noted that  the labor market has  fully recovered  to  pre-pandemic levels. “High-frequency  indices  (such as EPFO, PMI) further reflect  improvement in the overall employment situation across  all  sectors,” the report  said,  adding that the  sector  outlook  Employment Employment looks  bright, with employers intending to maintain or  increase  their workforce. 

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