The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from India Insight:
By Rajesh Kumar Singh and Nidhi Verma
Nitin Gadkari is the man Prime Minister Narendra Modi has assigned to launch a China-style infrastructure boom. Modi drafted in the 58-year-old former president of his Hindu nationalist Bharatiya Janata Party as transport, highways and shipping minister after winning last year's general election, betting on his reputation for getting the job done.
The national account to fund America’s highway construction and other transportation is nearly empty. The revenues that go into the Highway Trust Fund, which come from a federal 18.4 cent per gallon tax on gasoline, are expected to dip below $4 billion in July. Congress has transferred monies from the general fund in four of the past five years (the yellow stars above) into the Highway Trust to make up for the shortfall from the fuel tax.
from Expert Zone:
(Any opinions expressed here are those of the author and not of Thomson Reuters)
It’s reasonable to ask whether the Indian stock market has lost steam after the blistering run-up seen over the past couple of months. Since August, the markets have rallied about 40 percent, with many stocks in high-beta sectors such as infrastructure generating a return of more than 100 percent. At a one-year forward price-to-earnings (P/E) multiple of 15x, the Nifty isn’t exactly cheap for retail investors right now.