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With land acquisition hurdles stalling about 350 infrastructure and industrial development projects in Uttar Pradesh, the Yogi Adityanath government on Wednesday eased some cumbersome norms to speed up projects. The state has waived the stipulation of paying 4 times the prevailing market value/circle rate, for acquiring ‘gram sabha’ land for development projects, under the existing land acquisition norms enforced in 2015. The UP cabinet has decided to relax the provision for ‘gram sabha’ land owned by the state government and instead allowed for paying compensation as per the prevailing circle/market rates. For expert advice click here:CapitalHeight.
  • External Affairs Minister Sushma Swaraj and her American counterpart Mike Pompeo have agreed to reschedule the postponed '2+2 dialogue' at a mutually convenient time and location as soon as possible, a State Department spokesperson said on Thursday. Swaraj and Defence Minister Nirmala Sitharaman were earlier scheduled to travel to the US to take part in the meeting with Pompeo and Secretary of Defence James Mattis on July 6. But yesterday, Pompeo spoke over the phone with Swaraj to express his "regret and deep disappointment" at the US having to postpone the dialogue for "unavoidable reasons".
  • Adani Ports has decided to buy 97 per cent stake in Marine Infrastructure, which oversees operations of Kattupalli Port near Chennai, for an enterprise value of Rs 19.50 billion. The company has signed Share Purchase Agreement with Larsen & Toubro (L&T), Marine Infrastructure Developer Pvt Ltd (MIDPL) and L&T Shipbuilding to acquire 97 per cent stake of Marine Infrastructure Developer Pvt Ltd, which is engaged in constructing, maintaining, developing and operating the port.
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