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2.3.13

PURCHASE of 10,000 BUSES * India

* India - Budget 2013: Hike in JNNURM allocation likely to boost bus sales

(Photo: Mint - State transport undertakings bought 14,000 buses in 2009-2012 as part of the JNNURM programme) 
Mumbai,India -The WSJ, LiveMiny, by Shally Seth Mohile -Feb 28 2013: -- Bus makers such as Tata Motors Ltd, Ashok Leyland Ltd and Volvo Buses India Pvt. Ltd may get a boost, thanks to an increase proposed in the allocation for the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), money from which is used to expand and modernize public transport systems in the country’s towns and cities... Finance minister, P. Chidambaram, said in his budget speech on Thursday that the allocation would rise to Rs.14,873 crore in 2013-14 from Rs.7,383 crore in the current year... A significant portion of the fund will be used to support the purchase of up to 10,000 buses, specially by the hill states, he said. State transport undertakings bought 14,000 buses in 2009-2012 as part of the JNNURM programme...

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