(PTI) Finance Minister Nirmala Sitharaman on Monday introduced the Taxation Laws (Amendment) Bill, 2019, in the Lok Sabha to replace the Ordinance that was used to slash corporate tax rate to stimulate growth rate in a slowing economy. The Taxation Laws (Amendment) Bill, 2019 will replace the Taxation Laws (Amendment) Ordinance, 2019, promulgated on September 20, 2019, to cut the base corporate tax rate to 22 per cent from 30 per cent. Sitharaman introduced the Bill just before the proceedings in the Lok Sabha were adjourned for the day following opposition uproar over political developments in Maharashtra. Also, the International…
Author: Aruna Sharma
(PTI) The government has collected Rs 4,972.738 crore in revenue from auctioned coal blocks since financial year 2014-15, Parliament was informed Monday. Of the total revenue garnered till October 31, the maximum of Rs 1,280.58 crore was mopped up in 2018-19. In 2017-18, the revenue stood at Rs 1,115.02 crore while in the preceding fiscal, it was Rs 1,018.117 crore. In 2015-16, the government collected Rs 663.774 crore in revenue while in the preceding year, the figure stood at Rs 241.294 crore, Coal Minister Pralhad Joshi said in a reply to the Rajya Sabha. Under Coal Mines (Special Provisions) Act, 2015,…
(LiveMint) The government may end the cross-holding structure existing in the oil sector as it looks to further consolidate operations of public sector enterprises and go ahead with its privatisation plan by getting a fair valuation of assets. Official sources said that that all oil sector PSUs would be asked to exit from their investments made in equity shares of other state-owned entities. This could be done in phases, depending on the market conditions, so that the shares get maximum valuation. The cross-holding structure among oil PSUs was built in the late 1990s as the government sold its shares in…
(PTI) In December 2017, SAIL board had approved a proposal to enter into a JV with ArcelorMittal for manufacturing high-end automotive steel.SAIL is awaiting a response from ArcelorMittal regarding setting up a joint high-end automotive steel plant in India for which its board had given the go-ahead about two years ago, a top company official of the state-run steel major said. SAIL chairman A K Chaudhary said this while replying to a question related to the progress in talks with ArcelorMittal for setting up a joint venture (JV). In December 2017, Steel Authority of India Ltd (SAIL) board had approved a…
(OTV) Union Petroleum and Natural Gas minister Dharmendra Pradhan on Sunday suggested that an alumni fund should be set up for development of Utkal University and also assured to donate his one year’s salary to the fund. Addressing the function on the second day of platinum jubilee celebrations of the varsity, Pradhan who is also one of its alumni, said, “I will donate my one year’s salary to the alumni fund of the university by next week. The vice-chancellor will provide me the real-time gross settlement (RTGS) number and I will transfer the amount within the next two to four hours.”…
(PTI) In part indication of timelines for privatisation of India’s second biggest state oil refiner, the government has set a 50-day deadline for an outside ‘asset valuer’ to carry out the valuation of all assets of Bharat Petroleum Corp Ltd (BPCL), a process once completed will trigger invitation of price bids from potential acquirers. The Cabinet Committee on Economic Affairs (CCEA) had on November 20 given a go-ahead for sale of government’s entire stake in BPCL,Shipping Corporation of India Ltd(SCI), power generator THDC India Ltd (THDCIL) and North Eastern Electric Power Corp Ltd (NEEPCO) to a strategic investor along with…
(ET) Gujarat government on Friday launched a web portal for applying online for waiver of electricity duty. Under this initiative, industrial units will have the facility to make online application for waiver of electricity duty. Describing the new feature of the portal, energy minister Saurabh Patel said, “With implementation of this new system, Gujarat will be the first state in the country to introduce waiving of electricity duty through online processing.” The minister further stated that for availing waiving of electricity duty, industrial units will have to make online registration and submission of application along with uploading of mandatory documents on…
(The Tribune) After visiting CRPF’s headquarters last week, Union Home Minister Amit Shah will now meet officials of the ITBP at their headquarters next week and discuss with them operational preparedness of the force. Officials today said the Home Minister was expected to make a visit to the headquarters of the force here sometime next week and review its operational preparedness with senior officers. He is also expected to discuss issues pertaining to the Line of Actual Control with China and its other engagements including internal security duties. It is also learnt that Shah on his visit to the ITBP…
BJP National Working President Shri J.P Nadda’s Speech In Jharkhand
(Tribune) Chief Minister Jai Ram Thakur today called on Prime Minister Narendra Modi in New Delhi and thanked him for visiting Himachal to inaugurate the Global Investors’ Meet. Various Central government-aided projects were discussed and Thakur requested the PM for speedy approval and support. The latter assured of all possible help. As the CM is in Delhi, speculations are rife that discussions on expansion of Cabinet also took place, but there is no confirmation yet. The Cabinet expansion is on the cards as two posts are lying vacant. Cabinet minister Anil Sharma quit after his son contested the Lok Sabha poll…