India’s Heavy Industries is certainly doing well for itself, as the excess fund generated by these units will now be utilized for the development of the infrastructure in India. To ensure the execution of the same, Heavy Industries Minister Praful Patel attended a meeting with all the heads of the PSUs to discuss issues such as cash dividends, dividend payouts, cash balances, reserves and CAPEX progress. The article below tells you more about the progress and the development activities of the PSUs in recent times.
The Indian government is now contriving a way to utilize the excess funds of the PSUs for the development of infrastructure in the country. Heavy Industries Minister Praful Patel must be a happy man to see these units doing well in recent times, even when the odds seem to be insurmountable. Patel recently attended a meeting with the chiefs and heads of the PSUs to discuss subject matters related to cash dividends, dividend payouts, cash balances, reserves and CAPEX progress. India’s infrastructure will now gain leverage, which will further allow her to compete with the other leading nations of the nation, per se infrastructure. The National Manufacturing Competitiveness Council put the suggestion forth and the government took immediate actions. The uphill movement of the PSUs is certainly helping to enhance the economic condition of the country, inspite of several mega projects, being left in limbo due to issues related to environmental clearances.
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Praful Patel’s contributions towards the growth of the Heavy Industries and PSUs have been phenomenal. Be it setting up the world’s largest Single Solar Power Plant in Rajasthan or ensuring the success of the Auto Expo 2014, Praful Patel has been a name to reckon with. In addition, Patel was also responsible for seeking an extension for BHEL’s chief P.B. Rao, after he reached his superannuation age. BHEL has been doing considerably well, in regards to the government projects. With enough experience and finesse under its belt, BHEL is amongst those six companies that have come together to form a joint venture. This venture is shouldering the responsibility of executing the Single Solar Power Plant project in Rajasthan. BHEL also holds the largest share in this joint venture. The Automobile segment isn’t far behind the PSUs either. Post the announcement of the interim budget, the automobile segment would be looking forward to perk up its sales, after a period of lull that it has experienced in recent past.
NCP Leader Praful Patel will also have a major role to play, as far as the proceeding of the Automobile Industry in India is concerned. P. Chidambaram, the Finance Minister announced a deduction in the excise duty for the SUVs and the two wheelers. This would now allow more and more customers to buy their favorite range of cars; the sedans and the raging SUVs. Post the announcement of the budget, most industries in India have now gained some amount of stability. It is now time for each of them, to invade new markets and make optimum use of the untapped resources.
NCP Leader Praful Patel would now be looking to make inroads in the unexplored markets, post the success of the Automobile Industry at Auto Expo 2014. For more Praful Patel information, follow him on his social networking sites including Facebook, Google+ and his YouTube channel.
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