PTI The coal ministry on Tuesday said a revenue of Rs 28.79 crore has been generated by disposing of scrap as part of a special campaign. An area of approximately 50,59,012 sq ft has been freed so far via scrap disposal, the coal ministry said in a statement. A total of 1,08,469 physical files have been reviewed so far, and 8,088 old files have been weeded out, it said. Besides, 29,993 e-files have been closed online, after reviewing 80,305 e-files, the ministry said. During the second and third week of the implementation phase of the special campaign, the coal ministry…
Author: Amit Bhanot
PTI Space start-up Skyroot Aerospace on Tuesday unveiled its indigenously built Vikram-1 rocket which is expected to deliver satellites to low earth orbit early next year. Science and Technology Minister Jitendra Singh also inaugurated ‘The MAX-Q Campus’, the new headquarters of the start-up at the GMR Aerospace and Industrial Park at Mamidipally in South Hyderabad. Singh toured the Skyroot headquarters spread across 60,000 sq ft and billed as the country’s largest private rocket development facility under one roof. Vikram-1 is a multi-stage launch vehicle with a capacity to place around 300 kg payloads in Low Earth Orbit. It is an all-carbon-fibre-bodied…
PTI Jammu and Kashmir Lieutenant Governor Manoj Singh called on Prime Minister Narendra Modi here on Tuesday. “Lieutenant Governor of Jammu & Kashmir, Shri Manoj Sinha met Prime Minister Narendra Modi,” the PMO said in a post on X. Sinha had said in Jammu on Monday the security situation in the Union Territory has improved significantly and terrorism is “taking its last breath” there.
PTI An SBI research report has praised the Modi government’s micro-credit scheme for street vendors for ensuring “inclusive entrepreneurship” and said nearly 75 per cent of its beneficiaries come from the non-general category with the OBCs accounting for 44 per cent. The Scheduled Castes and Scheduled Tribes account for 22 per cent of the total disbursement of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme and 43 per cent of the total beneficiaries are women, the report said. “Female share indicates empowerment of entrepreneurial capabilities of urban female, giving SVANidhi a gender equaliser tag,” it said.
The Indian Express Central and state Goods and Services Tax authorities have shot off a spate of notices to companies over the last few months. This is likely to only increase in the coming months. Summons issued by a state tax authority seeking details about GST payments from a company “based on media reports” of its merger with another company in a different state. A notice issued to a company just by levying a flat 18 per cent GST on the entire turnover raising tax demand of Rs 1,400 crore, without taking into account the tax already paid. In the…
FE Financial bids for a majority stake in Chhattisgarh-based NMDC Steel (NSL), an arm of Union government-owned miner NMDC, will likely be delayed till Lok Sabha elections are over in May next year. The deferment of the proposed sale of the Centre’s 50.79% stake in NSL is because the privatisation plan is being opposed by the Congress, which runs the incumbent government in Chhattisgarh, at the hustings. The stake on the block is expected to fetch at least Rs 11,000 crore to the Centre, given NSL’s new 3 million tonne per annum (mtpa) hi-smelt technology at Nagarnar. The financial bids…
FE City gas distribution (CGD) sales volume is surging 18-20 per cent this fiscal compared with a slattosh run last fiscal, said a CRISIL report. This is driven by demand pull from improving price competitiveness of domestic gas compared with substitute fuels because of falling gas prices and supply-side impetus from continued growth in distribution infrastructure. Operating margin, it added, will improve too riding on reduced procurement cost and better absorption of fixed cost due to higher volume, which will support the credit quality of distributors. CRISIL Ratings assessed nine distributors with ~90 per cent market share for fiscal 2023 to reach the…
FE IIFL Finance is looking to increase its co-lending book to Rs 15,000 crore by March 31 from Rs 10,576 crore currently. “The co-lending book will grow steadily from current levels,” said founder and chairman Nirmal Jain. Currently, the company has 15 co-lending partners including DCB Bank and State Bank of India. The non-bank lender’s co-lending book rose 125% year-on-year(y-o-y) as on September 30. In comparison, the consolidated loan assets under management rose 32% y-o-y to Rs 73,066 crore. He added that IIFL’s assets under management has been rising at 25% a year and it plans to continue growing at the same pace.…
FE Thanks to a decline in global prices of liquefied natural gas (LNG) in the initial months of this fiscal, India’s LNG import bill in the first half of the year fell by nearly 30% on year to $6.6 billion. In volume terms, analysts see the country’s LNG imports rising this year given the increased demand and the “reasonable prices” of the commodity in the international market. During the first half of the financial year 2023-2024, imports of LNG rose by over 10% to 15.11 bcm from the 13.68 bcm in the corresponding period last year. India’s imports of LNG in…
Ndtv The Uttar Pradesh government has set up a special investigation team to investigate into 4,000 madrassas, mostly running along the border with Nepal, which are allegedly receiving funds from abroad, officials said on Monday. An official said the SIT will examine if the money was used on any illegal activities, like terrorism or forcible religious conversion. The three-member SIT led by Additional Director General of Police (ADG) Mohit Agarwal of the Anti-Terrorism Squad (ATS) was formed on the instructions of Chief Minister Yogi Adityanath, a senior official said. Cyber Cell Superintendent of Police Triveni Singh and Minority Welfare Department…