Monday, 15 December 2014

Top economic news of the day - December 15, 2014

The Centre is planning to construct a tunnel ring road in the city that can be linked to the proposed Ahmedabad-Mumbai highway. The cost of the tunnel ring road project, as per initial estimates, is around Rs 900bn. 
 
The Telangana state government requested visiting Union Minister of Communications and Information Technology for a substantial increase in financial support from the Centre for the first phase development of the proposed IT Investment Region (ITIR) in Hyderabad. The Centre had approved financial support of Rs32.75bn for the project while earmarking just Rs1.65bn in the first phase. 
 
Amid concerns of bullion trade being used for routing of black money, Switzerland's gold exports to India have risen further and is fast approaching Rs one-trillion mark. 

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