News Update

Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coastUS imposes fresh sanctions against Iranian drone productionIREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing ProjectsVoting for General Elections 2024 commences tomorrowGlobal warming up to 3 degrees to cost 10% of global GDP: StudyNexus between Election Manifesto and Budget 2024 in July!Clearing the Air: Airtel's SC Decision provides clarity on test of AgencyGST implications for Corporate Debtor under IBCI-T- Petitioner's CIBIL score lowered due to same PAN being issued to another assessee who defaulted on loan; I-T Deptt to inform CIBIL of remedial measures taken: HCBrazil’s proposal to tax super-rich globally finds many takers in G20 GroupI-T- Additions framed on account of unconfirmed cash loans upheld in part, where assessee is unable to discharge onus of proving source of cash deposits : ITATCPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence MinisterI-T- Registration of trust u/s 12A denied due to inadvertent error by assessee in filing Form 10AB but with wrong selection code; case remanded for reconsideration: ITATBiden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliersI-T- Enhancement of income is not sustainable if CIT (A) not follow sec 251 and no notice given to assessee of enhancement : ITATUS Poll: Biden trumps Trump in money race by USD 75 mnI-T- Assessee is entitled for depreciation on goodwill arising out of difference between cost of acquisition and net value of assets and liabilities as per book value of CAPL : ITATNetanyahu says Israel to decide how and when to respond to Iran’s aggressionI-T- There is no scope of extrapolation in search assessment based solely on assumptions and surmises in absence of any tangible material qua the relevant assessment year: ITATGoogle slays costs by laying off staffers & shifting roles outside USI-T- Re-assessment cannot be sustained where based on borrowed satisfaction & where conducted in a mechanical manner: ITATHeavy downpours drown Dubai; Airport issues travel advisoryCus - There cannot be an exercise of jurisdiction to injunct invocation of BG, as it is a settled principle of law that bank guarantee constitutes an independent contract between the bank and the party in whose favour BG is furnished: HCHM pledges to make India completely Maoist-freeGST - Except for holding that the taxpayer had availed ITC which is blocked credit u/s 17(5), no reasons are specified - Order set aside and matter remanded: HCMicrosoft to inject USD 1.5 bn in AI Group G42 of UAEGST - Injustice would be caused unless petitioner is provided another opportunity to contest tax demand on merits - Subject to deposit of 10% of demand, matter is remanded: HCCanadian budget proposes more taxes on higher income groups & tax credits for EVsWorld leaders appeal for quick ratification of UN Ocean Treaty
 
CCEA okays revised cost of Dam rehabilitation

 

By TIOL News Service

NEW DELHI, SEPT 19, 2018: THE Cabinet Committee on Economic Affairs has approved the Revised Cost Estimate of Dam Rehabilitation and Improvement Project (DRIP) at the revised cost of Rs 3466 crore with the financial assistance of the World Bank to improve safety and operational performance of 198 Dams, along with institutional strengthening with system wide management approach.  Out of Rs.3,466 crore, Rs.2,628 crore will be funded by the World Bank and Rs.747 crore will be funded by DRIP States / Implementing Agencies (IAs) and balance Rs.91 crore to be funded by Central Water Commission (CWC).

 The CCEA also gave its ex-post facto approval for two-year time extension from 1 st July, 2018 to 30 th  June, 2020

The project will improve the safety and operational performance of selected existing dams and mitigate risks to ensure safety of downstream population and property.  The primary beneficiaries are both urban and rural communities dependent on reservoir and downstream communities, who are prone to risk associated with dam failure or operational failure.  Further, through institutional strengthening component, effectiveness of Dam Safety Organisations will be increased to take the lead to make dams safe from structural and operational point of view through capacity building of staff and officials.

Details:

DRIP envisages following objectives: -

a)   Component-I: - Rehabilitation of Dam and its Appurtenant Structures,

b)   Component-II: - Institutional Strengthening and

c)   Component-Ill: - Project Management.

The Scheme envisages comprehensive rehabilitation of 198 existing dam projects located in seven states of India namely, Kerala, Madhya Pradesh, Odisha, Tamil Nadu, Karnataka, Jharkhand (Damodar Valley Corporation) and Uttarakhand (Uttarakhand Jal Vidyut Nigam Limited).

Numbers of dams with initial and revised cost submitted by Implementing Agencies are as follows: -

Implementing Agency

No. of Project Dams

Total Initial Project Cost ( Rs Crore)

Total Project Revised Cost ( Rs Crore)

Madhya Pradesh WRD

25

315

169

Odisha WRD

26

148

751

Tamil Nadu WRD

69

486

543

TANGEDCO

20

260

260

Kerala WRD

16

158

360

KSEB

12

122

154

CWC

 

132

270

Karnataka WRD

22

276

581

UJVNL

5

64

235

DVC

3

139

143

Total Cost (in Rs Crore)

198

2100

3466

Background:

Originally, the total cost of DRIP was Rs. 2100 Crore with State component of Rs. 1968 Crore and Central Component of Rs. 132 Crore. Initially the project was a six-year Project which commenced on 18 th April, 2012 with a scheduled closing on 30 th June, 2018. The Project implementation has been granted in-principle approval for two years extension in the year 2017 by Union Minister of Water Resources, River Development and Ganga Rejuvenation and the World Bank with a revised closure date of the project by 30th June 2020.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.