Economy News 21 July 2016

Investors queue up to rescue highway projectsMacquarie, Brookfield and Cube Highways are among a clutch of investors that have

taken up equity in 10 national highway projects worth Rs 4,150 crore from which private

promoters have exited.

The government is also chalking out the entry of sovereign funds from Abu

Dhabi and Qatarinto such projects.

Govt optimistic on GST passage

Minister of State for Finance Arjun Ram Meghwalexpressed hope that the Rajya Sabha

would clear the Constitutional amendment for a proposed national goods and services

tax (GST), with support from regional parties. On the sidelines of an Assocham event,

he said the Congress party’s demand for capping the GST rate in the Constitution was

“not practical” and the government was trying for a consensus.

Food service sector to be key part of economy: NRAI

Sound macro-economic performance will in turn help the food services sector become a

key part of the economy, National Restaurant Association of India (NRAI) said in a

report released on Wednesday. The size of the market, organised as well as

unorganised, was around Rs 3.09 lakh crore in financial year 2015-16 (FY16) and is

projected to grow at a compounded annual growth rate of 10 per cent to reach Rs 4.98

lakh crore by FY21, it said.

89 cr person-days generated under MGNREGA in first

quarter

With change in implementation mode, the MGNREGA performance has improved

substantially, as employment generated under it jumped by 60 per cent to record 89

crore person-days in the first quarter of this year.

Under the MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act)

scheme, the employment is demand-driven. Those who turn up for work are hired and

paid on notified wage rate.

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