Search Result for : Subsidy

The Dollar Business Bureau Airfares and subsidy by the government to airlines under UDAN scheme will be reviewed on quarterly basis depending on the inflation. The UDAN (Ude Desh ka Aam Naagrik) scheme, which seeks to connect under-served and un-served airports, provides for a limit on prices of air tickets and viability gap funding (VGF) for the airlines. The Ministry of Civil Aviation has said that VGF and caps on the prices of air tickets under the UDAN scheme would be revised every three months. The airfares would be associated with inflation, while VGF would be considered on the basis of inflation, aviation turbine fuel cost and dollar-rupee exchange rates. The first flight, under the UDAN scheme, took off from Shimla to New Delhi, last month. “Both airfare and ...

The Dollar Business Bureau The Government has decided to discontinue the Freight Subsidy Scheme, 2013, notified vide notification F.No.11(5)/2009-DBA-II/NER dated 22.01.2013, immediately. Only those industrial units that were registered under the Freight Subsidy Scheme, 2013 prior to the date of issue of this notification alone will be eligible for the benefits of the scheme. Those units that were registered under the erstwhile Transport Subsidy Scheme (TSS), 1971 prior to 22.01.2013 who are eligible for subsidy under the provisions of TSS, 1971, will continue to be eligible for residual benefits as per provisions of notification F.No.11(5)/2009-DBA-II/NER dated 22.01.2013. The Government has also directed that the disbursement of subsidies to eligible industrial units will be only through Direct Benefit Transfer mechanism or in other words ...

Source: PTI    Government will soon exploit economically unviable coal mines for gasification to produce cheaper urea to cut down on huge Rs.55,000 crore annual subsidy on the fertiliser, Union Minister Nitin Gadkari on Saturday said. “We cannot extract coal from 40% coal mines in the country, which are not economically viable. The idea is to use these soon for coal gasification by which we can get urea at a cost of only Rs.8,000 to Rs.10,000 a tonne,” the Road Transport and Highways Minister said at Economic Times Global Business Summit in New Delhi. Four of the 30 chemical and fertiliser factories in India produce urea from naphtha, the cost of which comes to around Rs.40,000 a tonne, he said. The ...

Source: PTI    Backed by several developing countries, India will strongly pitch for finding a permanent solution to the food security issue and a mechanism to protect poor farmers from surge in imports at the WTO meeting of 160 trade ministers', beginning in Nairobi on Tuesday. During the four-day meet, India wants the multi-lateral body to deliberate on pending issues of the Doha Round and deliverables of the Bali package, including issues of the least developed countries. “Focus of the deliberations will include issues relating to continuance of the Doha negotiating mandate; finding a permanent solution to the issue of public stock holding for food security; special safeguard measures,” an official said. The negotiations, launched at the Qatari capital in 2001 and ...

Source: PTI WTO acceptance enabled India to continue procurement and stocking of foodgrain for distribution to the poor under its food security programme without attracting any kind of action from WTO members   Members of the WTO will have to provide permanent solution to India's food security issue and the country does not see any “hitch” in that, Commerce and Industry Minister Nirmala Sitharaman has said. “Peace clause is with us and it's only natural that they (WTO) have to give a permanent solution. How it is going to be given... I do not see any hitch in that. Whether it is going to happen before Nairobi meet or not is get to be seeing,” Sitharaman told PTI. Ending months-long deadlock, ...

The Dollar Business Bureau The subsidy shall be paid directly to the farmers on behalf of the mills and be adjusted against the cane price payable to the farmers towards Fair Remunerative Price (FRP) including arrears relating to previous years     As part of measures to ensure better market support to the sugar industry, the government on Wednesday announced production-linked subsidy of Rs.4.50 per quintal to cane farmers during 2015-16 season to help cash-starved sugar mills clear arrears. The move that would cost the exchequer of about Rs.1, 147 crore is also expected to help liquidate sugar stocks and meet the export target to the extent of 80%. “The subsidy shall be paid directly to the farmers on behalf of ...

Source: PTI Iran has offered to supply natural gas at $2.95 for a urea plant that India will set up at Chabahar port on the Persian Gulf, but New Delhi wants rates to be lowered. With the US and other western powers easing sanctions against Iran, India has been in talks with Tehran to set up a gas-based urea manufacturing plant at the Chabahar port, besides developing a gas discovery ONGC had made. The total investment in the projects will be around Rs.1,00,000 crore, Road Transport, Highways and Shipping Minister Nitin Gadkari said on Wednesday. Asked about the development of the port, he said: “Various ministries will give their report by September 28, based on which a final decision will be ...

The Dollar Business Bureau In an effort to push sugar exports, the government has softened the norms that required exporters to obtain registration certificate on quantity before shipment. “The requirement of registration of quantity with DGFT for export of sugar has been dispensed with,” the Directorate General of Foreign Trade (DGFT) said in a notification issued on Monday. Earlier, exporters need to get registration certificate issued from DGFT before supplying the sweetener to overseas buyers. The DGFT used to issue the certificate for up to 50,000 tonnes of export. The move is seen as part of measures taken by the government to sell its stockpile of surplus sugar. Traders say that the decision will help expedite the outbound shipments as they ...