GST Council to decide VAT on petroleum products
The Dollar Business Bureau Deepak Vasant Kesarkar, Minister in the Maharashtra state government, informed the Legislative Council on Sunday that continuation of value-added tax (VAT) on alcohol and petroleum products will be decided by Goods and Service Tax (GST) Council in the coming 5 years. Responding to a debate in the Upper House of the state on the Maharashtra Goods and Service Tax Laws (levy, amendment and validation) Act 2017, Kesarkar said that it is even not possible for the Central government to transfer in one go the 25% tax rate on petroleum items under the new GST regime. The minister also clarified that the Maharashtra government has already taken a decision to not increase the tax on diesel because it is being used ...
US Co. to start a urea plant in Chandrapur
The Dollar Business Bureau A urea plant worth Rs.6,000 crore to be set up by a US-based firm is underway near the city of Bhadrawati in the Chandrapur district of Maharashtra, informed Union Minister Nitin Gadkari. The concerned project has reached advance levels of negotiations followed by a number of meetings with Chief Minister Devendra Fadnavis and Union Minister of State for Home Hansraj Ahir who represent the area (Chandrapur district), added the Minister for Road Transport and Highways and Shipping. The project has witnessed development with the Maharashtra government already allotting a piece of land to support it along with the Western Coalfields Limited (WCL) agreeing to provide its services for coal linkage. The minister noted that the project would be monetarily beneficial as ...
Maharashtra inks agreement with Korea Land & Housing Corp
The Dollar Business Bureau The Maharashtra government on Monday signed a Memorandum of Understanding with Korea Land & Housing Corporation (KLHC) of the Republic of Korea. This agreement is aimed at building a strategic partnership for smart cities, roads and bridges, etc while exchanging knowledge and expertise, Maharashtra Chief Minister Devendra Fadnavis tweeted. “This MoU is to build a strategic partnership for #smartcities, roads and bridges, etc and exchange of knowledge & expertise,” he tweeted. “I am happy to learn that KLHC intends to work with GoM (Government of Maharashtra) for smartcities, Maharashtra Samruddhi Corridor and some redevelopment projects,” Fadnavis said in a series of tweets. Soungeun Kim, the Consul General of Republic of Korea in Mumbai and Chandrakantdada Patil, Pravin Pote, Madan Yerawar, state ministers of Maharashtra were present during the occasion.
Maha Govt.: Smitten by the digital bandwagon
Sairaj Iyer When a noted Indian film maker in a fire-side chat said that digitization is both a power and danger for the movie industry, it wouldn’t have crossed anyone’s mind about government services, to fathom how digital initiatives could impact their lives. Although Mumbai, the capital of Maharashtra, doesn’t need any introduction to technological-preparedness and digital services, but an Indian govt office even in the cosmopolitan city cannot shirk away the image of piles and piles of paper files stacked one on top of the other! Government services are synonymous with paper chits, lengthy paper forms, that are crude and rudimentary to say the least. Digitization would seem like a manna to those in the govt offices entrusted with the herculean ...
Patanjali successfully bids for food park at MIHAN
The Dollar Business Bureau Patanjali Ayurved Ltd, the FMCG company founded by Baba Ramdev, has successfully submitted a proposal to set up a modern food park at Multi-modal International Hub Airport at Nagpur (MIHAN). Earlier, Maharashtra Airport Development Company (MADC) had floated two global tenders this year, one in May and the other in July, but has not been able to get a bidder. MADC has floated the tenders for the third time and got Patanjali Ayurved Ltd as the qualified bidder, the state-owned agency said in a press release on Friday. The state-run agency has taken a decision to create agro, herbal, food and forest-based industrial parks, spreading across a 230-acre land in MIHAN. This project is a part of MADC’s efforts in the development of ...
Maharashtra imposes stockholding limits on sugar
Source: PTI With sugar prices rising to Rs.40 per kg level in retail markets, the Maharashtra government has imposed stockholding limits on sugar traders in order to check hoarding and control prices of the sweetener. Maharashtra, the country's largest sugar producing state, has fixed the maximum limit for sugar at 5,000 quintals that a wholesaler can keep in stock for a period of maximum 30 days after receiving such stock. According to a government resolution issued, the limit for retailers has been set at 500 quintals for a period of maximum 30 days after they received such stock. As retail sugar prices crossed Rs.40 per kg, the Centre had allowed the states last month to fix the stock holding limit on sugar. The Cabinet had ...
Maha Govt plans to bring 70% farmers under PMFBY
The Dollar Business Bureau Due to drought for three successive years in the Marathwada region of Maharashtra and the poor monsoon in the previous years, the state government is trying to get more and more farmers under the insurance scheme for crops, in order to provide compensation for their failed crops. Currently, there are just 30 percent farmers, who are under the Prime Minister Fasal Bima Yojana (PMFBY), an insurance scheme launched by the central government for farmers. The Maharashtra government wants to increase this target to 70 percent, according to official sources. In order to bring even the small and marginal farmers into the scheme, the insurance premium has been significantly brought down. Speaking to reporters in Mumbai after ...
Commercial coal mining by private firms to benefit consumers
Sai Nikesh D | The Dollar Business Post the recent auction of coal blocks, the Government of India is planning to give the mines to respective states helping them to meet their respective power generation needs. After satisfying the domestic needs ranging from industries to households, the government is further planning to open up commercial mining of coal blocks by private sector, informed Piyush Goyal, Union Minister of Power, Coal, New and Renewable energy. To this effect, the Minister indicated that the process of commercial mining would probably start in the coming year. The Minister further said that the government’s move towards commercial coal mining involving private sector, would ultimately increase the competition and will bring down the rates as a ...
