RBI allows Indian Companies in Hotel Sector to Avail Benefits under ECB
Union Tourism Minister Shri Chiranjeevi has welcomed the decision of Reserve Bank of India to allow Indian companies in the hotel sector to avail benefits under the ECB (External Commercial Borrowings) scheme to repay their outstanding rupee loans and or to finance fresh capital expenditure. In a statement issued here today the Minister said amended… Read More
First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation, 2011-12
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the First Revised estimates of National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2011-12 along with the Second Revised Estimates for the year 2010-11 and Third Revised Estimates for the year 2009-10. As per the revision policy#1, the… Read More
Asian Development Bank provides Loan for Sustainable Urban Services
Government of India today signed an agreement for a $100 million loan with Asian Development Bank (ADB) as second tranche of Uttarakhand Urban Sector Development Investment Program which will support rehabilitation and expansion of basic urban infrastructure in five major urban centers of Uttarakhand and ensure sustainable municipal service delivery. The project will supplement the… Read More
Consumer Price Index Numbers for Industrial Workers (CPI-IW) December 2012
The All-India CPI-IW for December, 2012 rose by 1 point and pegged at 219 (two hundred and nineteen). On 1-month percentage change, it increased by 0.46 per cent between .November and December compared with ()1.01 per cent between the same two months a year ago. The largest upward contribution to the change in current index… Read More
Change in norms for clearance of import of gifts by courier at IGI Airport, New Delhi
Facility for Clearance of import of Gifts by Courier at IGI Airport, New Delhi; No Delay in the Clearance of Gift Parcels It has been reported that Customs is insisting that the Courier Companies Produce an authorization from the recipient of the gifts before allowing clearance, which is causing delays and hardship to individuals. It… Read More
Domestically Manufactured Laptops, PCs and Tablet PCs to be given Preference in Government Procurement
Notifications for Providing Preference to Domestically Manufactured Laptop PCs and Tablet PCs in Government Procurement The Government has notified the policy for providing preference to domestically manufactured electronic products in procurement due to security considerations and in Government procurement vide Department of Electronics and Information Technology (DeitY) Notification No.8(78)/2010-IPHW dated 10.2.2012. This is one of… Read More
Index of Eight Core Industries (Base: 2004-05=100)
Index of Eight Core Industries (Base: 2004-05=100) December 2012 Press Note The summarized Index of Eight Core Industries with 2004-05 base is given in the Ammexures. The Eight core industries have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP). The combined Index was 154.6 in December 2012 with a growth rate… Read More
ONGC Videsh Limited Acquisition of oilfields overseas Approved
Approval for ONGC Videsh Limited's acquisition of participating interest in ACG Fields in Caspian Sea sector and BTC pipeline in Azerbaijan The Cabinet Committee on Economic Affairs today gave its approval to authorize ONGC Videsh Limited (OVL) to acquire Participating Interest (PI) owned by Hess Corporation`s wholly-owned subsidiaries in the upstream and midstream oil and… Read More
Approval for partially allowing export of certain edible oils
The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Commerce for partially allowing export of certain edible oils as per the following: (i) Export of edible oil from Domestic Tariff Area (DTA) to Special Economic Zones (SEZs) to be consumed by SEZ units for manufacture of processed food products. (ii)… Read More
Determination of Fair and Remunerative Price payable by sugar mills for 2013-14 sugar season
The Cabinet Committee on Economic Affairs has approved the fair and remunerative price of sugarcane payable by sugar mills for 2013-14 sugar season to be fixed at Rs.210/- per quintal. This price will be linked to a basic recovery rate of 9.5 percent, subject to a premium of Rs.2.21 per quintal for every 0.1 percentage… Read More
Official Amendments to Lokpal and Lokayuktas Bill, 2011
The Union Cabinet has approved the proposals submitted by the Department of Personnel & Training for moving official amendments to the Lokpal and Lokayuktas Bill, 2011 as reported by the Select Committee of Rajya Sabha. The Lokpal and Lokayuktas Bill, 2011 was passed by the Lok Sabha on 27th December, 2011. The Bill was taken… Read More
Revival of Scooters India Limited, Lucknow
The Union Cabinet today approved the revival of Scooters India Limited, Lucknow (SIL) through infusion of funds of Rs. 90.38 crore as capex/working capital and financial restructuring through waiver/conversion of Government of India loan/interest to the tune of Rs.111.58 crore. The Cabinet also approved the 2007 pay scales to the employees as per the Department… Read More
Amendments to Regional Rural Banks (RRBs) Act, 1976
The Union Cabinet today gave its approval to the proposed amendments in the Regional Rural Banks (RRBs) Act, 1976 to enhance authorized and issued capital to strengthen their capital base. The term of the non official directors appointed by the Central Government is proposed to be fixed not exceeding two years. The proposed amendments will… Read More
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