BUSINESS
Exclusive: Commercial mining of lithium, 5 more minerals gets Cabinet nod
These minerals - lithium, beryllium, titanium, niobium, tantalum and zirconium - have uses in the spacetech industry, electronics, communications and will also help in India's energy transition
INDIA
Centre to tighten grant terms, make it difficult for states to provide free electricity for political gain
The long-term objective of this is to reform the power sector, so that it is viable for investors.
BUSINESS
Dubai emerges as India's favourite destination for FDI
As per Dubai FDI Monitor, India ranked among the Top 5 source countries for announced FDI projects and estimated FDI capital in the calendar year 2022.
BUSINESS
Now, central push for reducing VAT on natural gas for fertilisers
Centre likely to write a letter to states. At present, VAT on natural gas falls under the domain of states, and rates vary from state to state. According to an estimate, subsidy to the tune of about Rs 12,500 crore increases annually on account of VAT alone.
BUSINESS
India will be self-sufficient in urea by 2025, there will be no need for imports: Fertilizer Secretary Arun Singhal
There will be no shortage of fertilizers in the next season, and the stock is more than needed, the fertilizer secretary said.
BUSINESS
Mega plan in the works for fertiliser subsidy reduction and farmer protection
Apart from saving on subsidies, these products will also preserve soil fertility, meaning it will be environment-friendly, too.
POLICY
Push for coal gasification may see Rs 30,000 cr investment by 2026
This cleaner and more sustainable use of coal will also help reduce the import bill, as also lead to the direct and indirect employment of more than 21,000 people.
POLICY
Govt may announce new industrial policy; new scheme for investment subsidy on cards
Ministry of Commerce and Industries has circulated the draft of the policy for inter ministerial consultation.
ECONOMY
Exclusive | Seven sectors may get Rs 35,000 crore in next PLI round
Bicycles, leather, toys, and containers may be included. The government is studying representations from other industries, and more may be brought under the PLI scheme subsequently
BUSINESS
10 companies sign up for access to data on Unified Logistics Interface Platform
Under the National Logistics Policy, the platform will bring all digital services in the transportation sector into a single portal, freeing exporters from long and cumbersome processes.
ECONOMY-ECONOMY
Cabinet may extend free food grain scheme till December at a cost of Rs 45,000 crore
The seventh phase of PMGKAY will require about 120 LMT of food grain, involving about Rs 45,000 crore of additional expenditure
BUSINESS
IDBI Stake Sale: Likely offer conditions as stage is set to invite EoIs
A meeting of the Core Group of Secretaries on Disinvestment is scheduled for October 3.
INDIA
PM Gati Shakti: Green signal for 22 infrastructure projects worth Rs 1 lakh crore
With this, there should not be any hurdles in terms of coordination between different departments, and the projects should be speedily implemented. The PM had launched the Rs 100-lakh crore PMGS national master plan for multi-modal connectivity last October.
BUSINESS
Take a sneak peek at the national logistics policy rolling out today
PM Modi is likely to announce four major initiatives under the national logistics policy today
BUSINESS
RCF, NFL among eight fertilizer PSUs identified for strategic divestment
A meeting of senior officials of DIPAM, departments of public enterprises, fertiliser and economic affairs, chaired by NITI Aayog CEO, discussed the proposal. The final decision is yet to be taken
BUSINESS
Concor selloff decision soon as Cabinet to discuss railway land reforms today
The Narendra Modi-led government is likely to increase the lease period and reduce the licence fees for railway land. The move is expected to speed up the privatisation of Concor
ECONOMY
WTO Summit | Developed nations industrial fishing fleets should be held responsible for overfishing: Commerce Minister
India has pushed for a stronger global agreement to battle overfishing based on the principles of 'common but differentiated responsibility and 'polluter pays' whereby developed nations that have exploited the most oceanic resources being held responsible for marine ecosystem collapse and cutting back subsidies more.
TRENDS
NGO files application for GI tag to be granted to Gaumukh Gangajal
Famous Indian goods which carry the tag include Basmati rice, Darjeeling tea, Chanderi fabric, Mysore silk, Kullu shawls, Kangra tea, Thanjavur paintings, Allahabad surkha, Farrukhabad prints, Lucknow zardozi and Kashmir walnut wood carvings.
INDIA
Finally No Setu on Ramsetu! Cabinet may consider winding up controversial Sethusamudram Corp today
Sethusamudram has been one of India’s most ambitious maritime projects, aiming to create a new shipping lane connecting the Gulf of Mannar and Bay of Bengal through the Palk Strait and Palk Bay
BUSINESS
Sale of government’s entire stake in Hindustan Zinc Ltd cleared by Cabinet: Sources
Proposal to close Bharat Gold Mines Ltd, which owns the famed Kolar Gold Fields in Karnataka, also approved.
ECONOMY
Fertiliser subsidy hike costing exchequer Rs 60,000 crore in lost tax gets thumbs up from Cabinet
Greenlight for about fifty percent hike in subsidy for NPK fertilisers aimed at cushioning the blow from surge in global raw materials prices
BUSINESS
Government to fast-track asset monetisation as disinvestment plan flounders
Senior officials from 12 ministries will meet on April 29 to share the roadmap for asset monetisation of their departments
BUSINESS
Cabinet approves distribution of fortified rice under all govt schemes: Sources
The government proposes to spend about Rs 2,700 crore per year on the scheme, which is aimed to tackle the problem of nutritional deficiency.
BUSINESS
Sebi Chairperson Madhabi Puri Buch denies allegations of late action on NSE scam
On April 5, Buch appeared before the Parliamentary Standing Committee on finance chaired by Jayant Sinha. Santosh Kumar Mohanty, a whole-time member, Sebi, along with some senior officials, were also present in the meeting.
