(FE) The Goods and Service Tax (GST) Council on Saturday decided to constitute a committee to further discuss and propose steps for easing the tax burden on micro, small and medium enterprises (MSMEs) under the year-old comprehensive indirect tax regime. Although there was no consensus on the kind of relief to be given to these units, the Delhi government has proposed that the Centre and state refund a certain portion of tax paid by MSME businesses registered for GST. Additionally, the council approved the launch of a pilot project for incentivising digital transactions; the sops would be limited to Rupay…
Author: Aruna Sharma
(DNA) State-owned ONGC on Thursday reported its highest quarterly net profit in over four-and-a-half-years on sharp rise in prices for oil and gas it produced. Its net profit of Rs 6,143.88 crore in the first quarter of the 2018-19 fiscal was 58.1% higher than Rs 3,884.73 crore in the year-ago period, Oil and Natural Gas Corp said in a statement here.The net profit is highest since December 2013 when earnings had hit Rs 7,126 crore. ONGC realised USD 71.48 for every barrel of crude oil it produced in the April-June quarter of the current fiscal, up 47.6% over USD 48.42 a…
(BS) Loksabha Speaker Sumitra Mahajan today handed over 5 croreth LPG connection under Pradhan Mantri Ujjwala Yojana (PMUY) in the Parliament House. The Government launched Pradhan Mantri Ujjwala Yojana (PMUY) on 1st May, 2016 and it is implemented by Ministry of Petroleum and Natural Gas through its Oil Marketing Companies i.e., IOC, BPCL and HPCL through their network of distributors across the country. Through PMUY, initially, 5 crore BPL households were targeted for providing deposit free LPG connections to BPL households by 31st March,2019. In a record time of 28 months for its launch, PMUY achieved the initial target of providing 5 crores LPG…
(LiveMint) India is planning to set up a liquefied natural gas (LNG) import terminal in Myanmar as it looks to expand energy diplomacy in its neighbourhood, oil minister Dharmendra Pradhan said on. The terminal to import super-cooled natural gas will be in addition to the similar facilities planned by Indian firms in Bangladesh and Sri Lanka as part of larger plan of energy connectivity in the South Asian neighbourhood, he said. Speaking at a seminar on ‘Assessing India’s Connectivity with Its Neighbourhood’, Pradhan said Numaligarh Refinery Ltd (NRL) in Assam is exploring supply of diesel to Myanmar and is looking at…
(PTI) Sebi has slapped a total fine of Rs 17.25 lakh on two firms for failing to obtain authentication with its online complaint redressal system along with redressing investor grievances within the stipulated time. In two separate orders dated July 31, the regulator said Eastern Mining and Allied Industries, and Orissa Industries have neither obtained SCORES (SEBI Complaints Redressal System) authentication within the time period — September 2012 — nor have they done it subsequently. Moreover, both the firms failed to redress investor grievances within the stipulated time of 30 days as required under SCORES, the regulator noted. ingly, a fine of Rs 12 lakh was imposed on…
(ET) Niti Aayog will soon pilot a cabinet note that seeks to make it mandatory for passenger vehicles to run on petrol blended with 15% methanol. If approved by the cabinet, this move will result in an at least 10% reduction in monthly petrol bills and help the government to substantially cut down its oil import bill. A high-level meeting was held in last week of July to discuss the details of the proposal and a senior government official told ET that cabinet secretary PK Sinha is personally monitoring the progress on this front. Niti Aayog has drawn up an ambitious…
(Tribune) Another spell of heavy rains awaits Uttarakhand with Met department issuing an alert for likely occurrence of heavy to very heavy rains at isolated places in Uttarakhand for August 3, 4 and 5.While issuing alert, the Met department has also not ruled out occurrence of thunder storm and cloudburst on these three days. Further, the Met officials have also put Aug 2 on Watch category forecasting heavy rains for Kumaon even in the next 24 hours.Following the alert, Uttarkhand State Emergency Operation Centre of Department of Disaster Management has also issued a 15-point advisory to all the district magistrates…
(Hindustan) कानपुर-लखनऊ हाईवे आठ लेन करने और झकरकटी समानांतर फ्लाईओवर निर्माण की कवायद जल्द शुरू होगी। दिल्ली में गुरुवार को मुलाकात के दौरान कैबिनेट मंत्री सतीश महाना को केंद्रीय मंत्री नितिन गडकरी ने यह आश्वासन दिया। महाना ने लखनऊ राजमार्ग पर दिनोंदिन बढ़ रहे वाहनों के लोड की बात कही तो गडकरी ने काम शुरू कराने का वादा किया। गुरुवार को दिल्ली स्थित केंद्रीय भूतल परिवहन परिवहन मंत्री नितिन गडकरी के आवास पर मुलाकात करने पहुंचे सतीश महाना ने बताया कि शहर की अन्य सड़कों को बनाने को लेकर भी चर्चा हुई। कानपुर-लखनऊ हाईवे आठ लेन होने से आमजन को…
(Tribune) Come August 15, India’s Independence Day, Chief Minister TS Rawat will hoist the Indian flag at Gamshali, (Barahoti), the border village that usually attracts attention on and off due to Chinese incursions.On Wednesday BJP MLA from Badrinath Mahindra Bhatt extended invitation to the Chief Minister to participate in the local fair that is held every year at Gamshali. Barahoti is located on Uttarakhand’s border with China ans is a grass land for grazing sheep and goats. An ITBP camp is also located at Gamshali.“On behalf of the villagers today, I invited Chief Minister TS Rawat to participate in the…
(FE) There is no doubt Wednesday’s repo rate hike of 25 bps will hurt the nascent growth recovery. RBI was probably erring on the side of caution as it considers some unpredictable factors—the trajectory of crude oil prices and also the direction of food prices, following an uncertain monsoon and the sharp planned increase in minimum support prices. The 5% consumer inflation forecast for Q1FY20 following 4.8% in H2 FY19—a shade higher than the level forecasted in June—suggests the central bank does expect an uptick in inflation. At the same time, it has professed its stance is neutral possibly because it is…