BEL Secures Orders Valued at ₹1,034.31 Crore: A Significant Achievement
Bharat Electronics Limited (BEL), a Navratna Defence PSU, has announced that it has received orders worth ₹1,034.31 crore in the month of January 2024. These orders include a major order from Mazagon Dock Shipbuilders Ltd for supply of spares related to the missile systems, as well as additional orders for defence equipment from various customers. […]
Government Should Consider Taxing Wealthy Farmers, Suggests MPC Member
The issue of taxing agricultural income has been a contentious one in India, where a large section of the population depends on farming for their livelihood. However, some experts have argued that imposing income tax on rich farmers could bring more equity and efficiency in the taxation system, as well as generate more revenue for […]
PM Modi Unveils Rs 4000 Cr Projects, Envisions Kochi as Future Shipbuilding Centre
Prime Minister Narendra Modi inaugurated three major projects worth Rs 4,000 crore in Kochi on Wednesday, January 17, 2024, with a vision to transform India’s ports, shipping and waterways sectors. The projects include the New Dry Dock (NDD) and the International Ship Repair Facility (ISRF) of Cochin Shipyard Limited (CSL) and the LPG Import Terminal […]
No Exemption for SEZ Units from Compensation Cess under GST
The Andhra Pradesh High Court has recently delivered a judgment that has significant implications for the Special Economic Zone (SEZ) units in India. The court has held that SEZ units are not exempt from paying compensation cess under the Goods and Services Tax (GST) regime on imported goods. This decision may affect the cost and […]
Reducing Import Costs: India Secures Lithium Blocks in Argentina, Aims to Save ₹24,000 Crore
India has taken a major step towards securing its lithium supply chain by signing an agreement with Argentina’s state-owned mining and energy company to explore and develop five lithium blocks in the Catamarca region. The deal, which is the first-ever lithium exploration project initiated by India, is expected to save the country ₹24,000 crore in […]
Breaking Records: REC Limited’s 61.1 Billion Yen Green Bonds Lead India’s Green Revolution
REC Limited, a leading government-owned infrastructure finance company in India, has made a significant foray into the international green finance market by successfully issuing its inaugural Yen Denominated Green Bonds. The issuance, totaling 61.1 Billion Japanese Yen (approximately 555 million USD), marks a milestone in REC’s commitment to sustainability and renewable energy initiatives. Green Bonds […]
Revolutionizing India’s Energy Landscape: New Rules to Boost Green Hydrogen and Energy Transition
The Minister for Power, Mr. R. K. Singh, has unveiled a series of new regulations designed to foster a more conducive environment for industries such as Green Hydrogen manufacturers. These rules are poised to expedite the establishment of energy storage capacity and play a pivotal role in advancing the energy transition while simultaneously securing the […]
Immediate Licence Cancellation of Hiriyur Urban Co-op Bank by RBI
Immediate Cancellation The Reserve Bank of India (RBI) has cancelled the licence of The Hiriyur Urban Co-operative Bank Ltd., Hiriyur, with immediate effect. The bank has ceased to carry on banking business from the close of business on January 12, 2024. Reasons for Cancellation The Hiriyur Urban Co-operative Bank does not have adequate capital and […]
Karnataka Government Approves 73 Projects Valued at Over Rs 3,900 Crore
Overview The State-Level Single Window Clearance Committee (SLSWCC) headed by Karnataka Minister M B Patil on Friday approved 73 projects worth Rs 3,935.52 crore. The projects are expected to generate employment for nearly 15,000 people, according to a statement . The projects cover various sectors such as manufacturing, renewable energy, food processing, warehousing and logistics. […]
Preemptive Measures: Centre Files Caveats in High Courts Amid Fears of Stay Order on Sugar-Ethanol Ban
IntroductionThe central government has taken a preemptive measure to prevent any stay order on its recent ban on using sugar for ethanol production in the 2023-24 supply year. The government has filed caveats in the High Courts of Bombay and Karnataka, seeking to be heard before the courts pass any order on the petitions filed […]