Search Result for : Bihar

The Dollar Business Bureau Former Governor of Bihar and National Democratic Alliance's (NDA's) Presidential nominee Ram Nath Kovind will become the 14th President of India. He will succeed the incumbent President Pranab Mukherjee, whose tenure is completing on July 25. Kovind obtained 65.65% of votes from the Electoral College, while his opponent, joint Opposition nominee Meira Kumar got just 34.35%. “Kovind secured 2930 votes with a value of 7,02,044. Meira Kumar got 1,844 votes with the value of 3,67,314, and 77 votes were invalid,” informed Anoop Mishra, the returning officer for Presidential Election 2017. Prime Minister Narendra Modi congratulated Kovind for his win. “Gladdened by the extensive support for Ram Nath Kovind Ji among MPs and across various states,” Modi said.  Kovind got votes of 522 ...

By Ranjeet Mahtani and Stella Joseph Rates The slab rates for goods has been formulated by the GST Council in November of 2016, as a five-tier rate structure – of 0%, 5%, 12%, 18% and 28% - besides which some products will attract cesses. Rates for services have till date not been officially announced, even while there was wide-spread belief that a two-tier rate structure – 12% and 18% - will be adopted. The Revenue Secretary earlier this week indicated that there would be two slab rates for services, since not all services can be classified within the standard rate of 18%. He also indicated that industries such as transportation may face a lower tax rate since presently they enjoy abatement under ...

The Dollar Business Bureau Inida's first waterways project received a financial backing of $375 million from international lender World Bank. The project is meant to create inland waterway for transportation between Haldia and Varanasi, on the 1,360-km stretch of the Ganges river. The loan sanctioned by World Bank covers 45% cost of the project, being undertaken under the Jal Marg Vikas scheme by the Shipping Ministry. The proposed project will facilitate navigation of commercial vessels with a capacity of 1,500-2,000 deadweight tonnage (DWT). Serving the industries on the banks of river Ganga, the new waterway will pass through four states namely Bihar, West Bengal, Jharkhand, and Uttar Pradesh. The industrial cities of Ghazipur, Bhagalpur, Kolkata, Howrah, Patna, Haldia, Allahabad and Varanasi will immensely benefit from this initiative. The development of National Waterway 1 (NW1) will also provide a good ...

The Dollar Business Bureau India’s potato output is projected to be around 47 million tonnes in the current year, just a level below of all-time high recorded in 2014. The potato production was 43.4 million tonnes in the crop year 2015-16 (July-June), whereas the previous record was 48 million tonnes witnessed in 2014-15. “Looking at the crop condition and arrival in mandis, I feel the overall output will be close to record levels. Potato output would be around 47 million tonnes this year,” A K Singh, Managing Director, National Horticulture Board (NHB) told PTI. At first, NHB had estimated the production at 43.88 million tonnes this year. However, this will be reviewed after evaluating the arrival, Singh said. He further said that overall area under ...

PTI The Nitish Kumar cabinet today waived tax on export and bottling fee on Indian Made Foreign Liquor and beer manufactured in the state to help the industry find better market outside Bihar, a dry state.Such a proposal of Excise and Prohibition department was approved at a meeting of state cabinet chaired by Chief Minister Nitish Kumar.Briefing about cabinet meeting, Principal Secretary of Cabinet Coordination Department Brajesh Mehrotra said consumption and trade of liquor are prohibited in the state but there is no ban on manufacturing and bottling.The decision would help people involved in liquor manufacturing in the state find better market for export of IMFL and beer in other states, he said.In another major decision, the Cabinet doubled the assistance to war ...

The Dollar Business Bureau Bihar’s Chief Minister Nitish Kumar on Sunday reviewed the progress of Nabinagar power project, currently being developed by National Thermal Power Corporation (NTPC) in Aurangabad district. The Chief Minister was on his two-day visit to the district on June18-19. He took stock of the ongoing construction, and expressed satisfaction on the current stage of project development. NPGCL, a joint venture firm between NTPC and Bihar State Power (Holding) Company Ltd. is developing a 3300 MW power project (5X660 MW) near Majhiyan and Ankorha railway station in Aurangabad. The government has given its principle nod to set up a sixth unit of 660 MW, which will take the overall project capacity to 3960 MW. Three units, each of 660 MW, would be set up in ...

 The Dollar Business Bureau The Union Defence Minister, Manohar Parrikar, on Monday, informed his Ministry’s efforts and initiatives being taken towards improving the performance of Ordnance Factory Board (OFB). The Consultative Committee consisting of the Members of Parliament were discussing the role of the OFB, one of the oldest and largest production organisations of the Ministry of Defence. Informing the members, the Union Defence Minister said, “OFB is undergoing a paradigm shift from that of a manufacturer of defence equipment to a Complete Solution Provider.” The OFB’s new role will encompass design, development, bulk production and lifecycle sustenance equipment, the Minister said. The OFB would be made into a lead integrator of major platforms and will undergo a transformation into becoming ...