The Indian steel industry has over the years, undertaken cost effective and environment friendly production of steel through adoption of state-of-the-art technologies and research. The Indian steel industry is addressing the energy & environment issues through the adoption of energy efficient & environment friendly technologies in the plants through technological upgradation/modernisation/expansion. These measures undertaken by the Indian steel industry have also resulted in improvement in energy efficiency and reduction in Green House Gas (GHG) emission. While steel companies are themselves addressing the issues, Ministry of Steel has facilitated improvement in the energy & environment scenario of steel plants through various mechanisms.…
Author: Amit Bhanot
The total number of steel plants in the country is 977. In the public sector, work is currently going on in NMDC Steel Plant in Nagarnar, Chhattisgarh which is a Greenfield steel plant. Steel is a deregulated sector where market forces and commercial considerations decide construction of new steel plants. The import of steel has increased marginally in the last 3 years from 7.23 Million Tonnes in 2016-17 to 7.84 Million Tonnes in 2018-19 as shown table below:- Import of Steel (in MT) Year Import 2016-17 7.23 2017-18 7.48 2018-19 7.84 Source: JPC However, domestic steel production has consistently increased regardless…
In the face of stiff competition, BHEL has won an order for the Electro-Mechanical (EM) works for the 40 MW Rahughat Hydroelectric Project in Nepal.The order has been placed on BHEL by the Raghuganga Hydropower Limited (RGHPL), a company 100% owned by Nepal Electricity Authority (NEA) the sole public power utility in Nepal and owned by the Govt. of Nepal. The project is majority funded by EXIM Bank of India in the form of a soft loan, along with funding from NEA and the Govt. of Nepal. WAPCOS, India is the project consultant. The order for Rahughat HEP, located in…
Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long-term measures. The Key Highlights of Union Budget 2020-21 are as follows: Three prominent themes of the Budget Aspirational India – better standards of living with access to health, education and better jobs for all sections of the society Economic Development for all – “Sabka Saath , Sabka Vikas , Sabka Vishwas”. Caring Society – both humane and compassionate; Antyodaya as an article of faith. Three broad…
New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers New tax regime to be optional for the taxpayers New rates entail estimated revenue forgone of Rs 40,000 Crore per year In order to provide significant relief to the individual taxpayers and to simplify the Income-Tax law, the Union Budget proposes to bring a new and simplified personal income tax regime wherein income tax rates will be significantly reduced for the individual taxpayers who forgo certain deductions and exemptions. While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Finance & Corporate Affairs, Smt…
Major Reforms Proposed in Administration of GST Regime Simplified GST Return to be Implemented from 1st April, 2020 To weed out Dummy or Non-Existent Units Aadhaar Based Verification of Taxpayers to be introduced Dynamic QR-Code proposed for Consumer Invoices A simplified GST return will be implemented from the 1st April, 2020. While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman said that this is under pilot run. It will make return filing simple with features like SMS based filing for nil return, return pre-filling, improved input tax credit flow and overall…
‘Ease of Living’ – central Tenet of Union Budget 2020-21 Budget interwoven around themes of Aspirational India, Economic Development and a caring society Backdrop of budget provided by proliferation of cutting edge technologies alongwith highest ever cohort of productive age population Aim to achieve seamless delivery of services, improve physical quality of life, mitigate disaster risks and boost social security Ideas of corruption free & policy-driven good governance and clean & sound financial sector permeate budget Government commits to substantially boost investment in agriculture, infrastructure, social sector, education and health “Our Prime Minister has laid before us Ease of Living…
Finance Minister proposes wide-ranging facilitation measures in Direct Tax Regime ‘Vivad Se Vishwas’ scheme proposed to reduce litigations in direct taxes; scheme to remain open till 30th June, 2020 Faceless appeals proposed to eliminate human interface for imparting greater transparency in dispute settlement CBDT to adopt a taxpayers’ charter; details to be notified soon Pan to be allotted online on the basis of Aadhaar without any requirement of detailed application The Union Budget has proposed ‘Vivad Se Vishwas’ Scheme (No dispute but trust) which aims at reducing litigations in the direct taxes payments. While presenting the Union Budget 2020-21 in Parliament today, the Union…