Search Result for : Ccea

The Dollar Business Bureau The Government’s move to allow commercial mining of coal by private sector will not only enhance production but also help in cutting the import bill by around Rs.30,000 crore, through substitution of imported non-coking coal with local production, according to the global rating agency CRISIL. Last month, the Cabinet Committee on Economic Affairs (CCEA) has approved the methodology for auction of coal mines/blocks, under the Coal Mines Act, opening up the commercial coal mining for private sector. “The move to allow the private sector to commercially mine coal will boost both production and mining efficiency. Moreover, the substitution of imported non-coking coal with domestic production could save roughly Rs.30,000 crore of coal imports,” CRISIL said in a statement. At present, ...

The Dollar Business Bureau In the wake of record production of pulses last year, the Government on Thursday removed restrictions on exports of all varieties of pulses so that farmers can get remunerative prices as rates in the domestic market have crashed below the minimum support price (MSP).  “The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi, has given its approval for removal of prohibition on export of all types of pulses to ensure that farmers have greater choice in marketing their produce and in getting better remuneration for their produce,” said an official statement.  The decision of the Government comes after two months of lifting a ban on exports of some varieties such as urad, tur ...

The Dollar Business Bureau With an 11% hike in the fair and remunerative price (FRP) of sugarcane, there could be a rise in the retail prices of sugar, industry body National Federation of Cooperative Sugar Factories (NFCSF) said. As per official data presently sugar’s retail prices are at Rs 40-45 per kg. In its public release on Wednesday the government stated that “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for fixing the Fair and Remunerative Price (FRP) of sugarcane at Rs. 255/- per quintal (qt) for sugar season 2017-18 linked to a basic recovery rate of 9.5% subject to a premium of Rs. 2.68 per quintal for every 0.1% point increase ...

The Dollar Business Bureau  The Cabinet has approved an increase in sugarcane’s fair and remunerative price (FRP) by Rs.25 a quintal to Rs.255 for the season 2017-18 starting from October. In this regard, a decision was taken at the Cabinet Committee on Economic Affairs (CCEA) meeting in New Delhi on Wednesday. The FRP is the lowest price that is legally guaranteed to the sugarcane farmers. On the other hand, the state governments can also set their own state-advised price (SAP) and the mill owners can offer a price more than the FRP. “Sugar mills situation has improved. For 2017-18, sugarcane FRP of Rs.255 per quintal has been approved, which is 10.6% higher than the current level,” Finance Minister Arun Jaitley told journalists after the Cabinet meeting. The sugarcane prices are associated with ...

PTI The government will on Monday sign contracts for the 31 small discovered oil and gas fields it had auctioned in the first bid round in more than six years. State-owned oil firms IOC, BPCL and HPCL had cornered a third of the fields whose award was confirmed by the Cabinet last month. “Contracts with successful bidders will be signed on March 27,” a senior official said. Touted as an auction round that would replicate the shale gas revolution of the US, half of the fields went to new and lesser known entrants like engineering company Megha Engineering & Infrastructure, KEI-RSOS Petroleum, Enquest Drilling and Nippon Power. The Cabinet Committee on Economic Affairs (CCEA) had approved award of 31 fields out of 34 that received ...

The Dollar Business Bureau Under the aegis of Container Corporation of India Ltd (CONCOR), a multi-modal logistic park was set up at Jharsuguda which has been operational since June. The CBEC has decided to include Jharsuguda as an Inland Container Depot (ICD) in its latest notification No.139/2016-Customs (N.T.) dated 25th November, 2016. Jharsuguda is the second ICD in Odisha after Balasore. CONCOR Jharsuguda was operational as a Domestic Container Terminal for the first 3-4 months and later converted as an ICD. This terminal will provide dedicated service to the industry along with customs clearance and cargo consolidation facilities. In recent times Jharsuguda district has witnessed large scale industrialisation due to the ambitious plans of Chief Minister Naveen Patnaik. One such proposal was the setting up ...

PTI The government on Tuesday increased the minimum support price (MSP) of wheat by Rs.100 to Rs.1,625 a quintal and pulses by up to Rs.550 per quintal to boost output of these rabi crops and check prices. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for all rabi (winter- sown) crops of 2016-17. The CCEA has approved Rs.100 per quintal hike in wheat MSP to Rs.1,625 per quintal for the 2016-17 rabi crop against Rs.1,525 per quintal last year. "Wheat has been hiked by 6.6%, barley 8.2% and including bonus, gram 14.3%, masur 16.2%, rapeseed/mustard 10.4%, safflower 12.1%," an official spokesperson said. "Further, ...

The Dollar Business Bureau In a bid to take forward the Jagadishpur-Haldia-Bokaro-Dhamra gas pipeline (JHBDPL) project, GAIL (India) Limited has approved the placement orders for the laying work of 345-km section extending from Phulpur to Dobhi at an estimated cost of Rs.306 crore. The project, slated to begin by October-end and targeted to be completed by December 2018, will be simultaneously executed by JSIW Infrastructure Pvt Ltd and IL&FS Engineering & Construction Co Ltd under two different sections. The plan will be supported with a capital grant of 40 percent or Rs.5,176 crore, to be used over a period of five years. The amount has been duly approved by the Cabinet Committee on Economic Affairs (CCEA) as a first-time incident of the Centre releasing funds ...