Page 10 - Government

Govt gets Rs 4,185 cr through 3% stake sale in state-run Coal India

The government has mopped up Rs 4,185 crore through a three per cent stake sale in state-run Coal India. The holding of the government has come down to 63.13 per cent in the coal producer after the offer-for-sale (OFS), CIL said in a stock exchange filing. The government has received Rs 4,185 crore through a 3 per cent stake sale in state-run Coal India, as per the Department of Investment and Public Asset Management (DIPAM) website. The government last week sold three per cent stake in CIL and the issue was oversubscribed by both retail and institutional investors. So far in the current fiscal, the government has mopped up Rs 4,235 crore from PSU stake sale. The full-year target from disinvestment has been pegged at Rs 51,000 crore.

Hand holding states, govt sellers to integrate with ONDC: DPIIT Joint Secy

The Department for Promotion of Industry and Internal Trade (DPIIT) is hand-holding states and central government sellers like handicraft emporiums to gradually integrate with Open Network for Digital Commerce (ONDC), a senior official said on Monday. ONDC is an initiative of the DPIIT to create a facilitative model to help small retailers take advantage of digital commerce. It is not an application, platform, intermediary or software but a set of specifications designed to foster open, unbundled, and interoperable open networks. Joint Secretary in the DPIIT Sanjiv said that supporting MSMEs (micro, small and medium enterprises) has been a priority for the ONDC. "This will unlock value in the huge B2B (business-to-business) market by increasing access and discoverability of various businesses across the network. "As we look forward to the integration of credit in the ONDC, the business can hugely benefit from the open network ecosystem by being a part of the ONDC," he said here at

Government proposes to sell up to 3% stake in Coal India on June 1

The government on Wednesday proposed to sell up to three per cent stake in Coal India Ltd through the offer for sale route from June 1. The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2. The proposal is to offload 9.24 crore shares amounting to a stake of 1.5 per cent in the coal producer. Besides, there will be a green shoe option for selling an equal amount of stake in case of over subscription, according to a regulatory filing. At the closing price of Rs 241.20 apiece on BSE on Wednesday, the sale of 3 per cent stake in Coal India would be worth around Rs 4,400 crore. "The seller proposes to sell up to 9,24,40,924 equity shares of face value of Rs 10 each of the company (representing 1.50 per cent of the total paid-up equity share capital of the company) (base offer size), on June 1st and 2nd for retail investors and non retail investors," the filing said. There will be an option to additionally sell 9,24,40,924 (1.50 per cent) equity .

Govt waives ISTS charges on offshore wind, green hydrogen, ammonia projects

In case a project is eligible for waiver of ISTS charges based on its original COD, the same benefit will continue to be made available if COD is extended by a BS web competent authority

Vivad Se Vishwas scheme to settle disputes in contracts begin from July 15

The Finance Ministry on Monday said the scheme to settle pending disputes related to government contracts under the Vivad Se Vishwas II will commence on July 15 and contractors will have time till October 31 to submit their claims. The Vivad se Vishwas II (Contractual Disputes) scheme was announced in 2023-24 Budget for settlement of pending disputes related to government contracts. Under the scheme, contractors would be offered settlement amounts depending on the status of a dispute. As per the scheme announced by the Department of Expenditure, in cases of disputes where court or arbitral order has been passed, the settlement amount would be 85 per cent or 65 per cent of the amount awarded by the court or the arbitral tribunal respectively. In the draft scheme, the Expenditure Department had proposed that the settlement amount would be 80 per cent in case of court orders and 60 per cent in case of arbitral awards. The expenditure department has improved the final scheme after ...

Govts of same ideology in Centre, state have benefitted Maha: CM Shinde

Governments of the same ideology are working in the Centre and state, because of which people of Maharashtra were getting benefits of various schemes, Chief Minister Eknath Shinde said here on Friday. Criticising the Opposition parties' stand of boycotting the inauguration of the new Parliament building, Shinde claimed that they were doing so to deny credit to Prime Minister Narendra Modi for his work. Shinde was speaking at the inauguration of a 'Shasan Aplya Dari' event in Kannad area of Aurangabad, during which funds were disbursed to 1.49 lakh beneficiaries under various schemes. "Both the state and Centre have governments of the same ideology. Hence, people of Maharashtra are getting benefits of various schemes. The Centre has sanctioned proposals for urban development, roads and railways. Basic facilities have been sanctioned by the Centre without curtailing a single rupee," the chief minister said. He further expressed confidence that Prime Minister Narendra Modi will also .

Govt plans to link tax collected at source with tax deducted at source: CEA

The government is attempting to link tax collected at source for payments made by individuals with tax deducted from their income sources, a move that will help in ensuring cash flows of the individual taxpayers are not impacted, according to a senior official. The move also comes at a time when the government is set to impose a 20 per cent Tax Collection at Source (TCS) on certain international spends from July 1. Generally, TCS is the tax collected by a seller at the time of sale of goods or services while Tax Deducted at Source (TDS) is the amount levied as tax by the government. The government has exempted transactions up to Rs 7 lakh from the TCS, providing relief to small taxpayers. So, bulk of the transactions made by most will not be covered under 20 per cent TCS, Chief Economic Advisor (CEA) V Anantha Nageswaran has said. Defending the decision, he said, "And it (government) also attempts to link the TCS with your TDS such that if there are TCS payment made by you it has t

Govt extends last date to submit bids under 7th tranche of coal auctions

The government has extended the last date to submit bids under the seventh round of commercial coal auctions till June 27, 2023, an official statement said Wednesday. The government had earlier fixed May 30 as the last date to submit bids for the 106 coal mines that were put on the block in the latest round of auctions. On March 29, the government launched the seventh round of commercial coal auctions in a bid to increase the availability of the dry fuel in the country. In a statement, the Ministry of Coal said: "In view of requests received from a large number of potential bidders, it has extended the last date for bid submission by 28 days and now the last date for bid submission for the seventh round of auctions is 27.06.2023 which was 30.5.2023 earlier." The ministry further said that so far 133 mines with cumulative peak rated capacity (PRC) of 540 million tonne per annum (MTPA) have been allocated/auctioned. In order to facilitate the private players for early development of

Govt to re-allocate Go First's Haj flights to IndiGo, two Saudi carriers

The government has decided to re-allocate the Haj flights that were to be operated by crisis-hit Go First from 10 Indian cities to IndiGo and two Saudi Arabian airlines, a senior official said on Thursday. The decision comes against the backdrop of the uncertainty over cash-starved Go First, which has cancelled all flights since May 3. The budget airline's plea for voluntary insolvency resolution proceedings has also been admitted by the National Company Law Tribunal. After discussions in the wake of the Go First crisis, the civil aviation ministry has decided to reallocate the flights for the Haj pilgrimage that was to be operated by the carrier. Go First is scheduled to operate the flights from 10 embarkation points in different parts of the country and now those flights will be operated by IndiGo and two Saudi carriers -- Saudia and flyadeal, the official told PTI. For this year's Haj pilgrimage, the official said there will be a total of 22 embarkation points. Out of them, Go .

Government cautions against electronic cigarette promotion at media events

The Centre has cautioned media houses against promoting electronic cigarettes at events hosted by them. The communication to media houses, digital publishers and OTT platforms came after the health ministry flagged an instance where electronic cigarettes were apparently promoted at a business summit held in the city recently. "Such an action was in violation of Section 4 of the Prohibition of Electronic Cigarettes (Production, Manufacture, Import, Export, Transport, Sale, Distribution, Storage and Advertisement) Act, 2019 which prohibits advertisements that directly or indirectly promote the use of electronic cigarettes," said the communication from the Ministry of Information and Broadcasting. "The Print, Electronic and Digital Media entities are accordingly advised to ensure that the aforementioned statute is not contravened either by way of advertisement or any promotion or other campaigns," it said.

Vivad Se Vishwas scheme aimed to provide relief to MSMEs comes into force

Also, relief will be provided in all contracts for procurement of goods and services, entered into by any ministry or department attached with MSMEs

Govt revises format of bidders from countries sharing border with India

India has revised the format of the application for bidders for public procurement having beneficial ownership in countries which share land borders with the country. Accordingly, applicants are informed that now one hard copy in the prescribed format is required to be submitted to the Office of Joint Secretary (Public Procurement Division) in the Department for Promotion of Industry and Internal Trade (DPIIT). An office memorandum of the DPIIT stated that as per the revision, bidders have to provide details of manufacturer, service provider, contractor and entity providing transfer of technology (ToT) if they are different from bidder, for security clearance. They have to share details of sensitive sectors and technologies in cases of ToT arrangement. Sensitive sectors are categorised into two groups - atomic energy, defence and space, among others are in category-1 while 10 sectors including civil aviation, electronics, agriculture and pharma are in the second one. Sensitive ...

DST report favours govt support to innovation even in case of failure

In a bid to promote innovation in manufacturing, a state-backed report has suggested that the government co-fund to pursue research even if it fails to improve their risk appetite to embrace new technologies and processes. The report on National Manufacturing Innovation Survey, released by the Department of Science and Technology (DST) and the UN Industrial Development Organisation, also suggested that the government launch an 'Innovate to Make in India' strategy and support pre-competitive, industry-focussed research and innovation. According to the report, 25.01 per cent of the 8,074 firms surveyed were considered innovative and had successfully implemented either new or significantly improved products or processes between 2017 and 2020, the period under review. The survey found that close to 80 per cent of innovators were able to improve the firm's turnover, open up new market opportunities, respond to market and cost pressures whereas only 53.59 per cent were able to respond to

CM Patel greets people on Gujarat Foundation Day; skips official function

Chief Minister Bhupendra Patel extended good wishes to people on the occasion of the Gujarat Foundation Day on Monday, but could not attend the state-level programme in Jamnagar due to his son's ill health. Bhupendra Patel's son Anuj Patel suffered a brain stroke on Sunday and underwent a surgery at the K D Hospital in Ahmedabad. He was shifted to a hospital in Mumbai on Monday morning for further treatment. A government statement said, "Chief Minister Bhupendra Patel will not be able to attend various programmes of the Gujarat Foundation Day celebration to be held today in Jamnagar due to the ill health of his son." Gujarat Governor Acharya Devvrat and Health Minister Rushikesh Patel participated in the state-level programme in Jamnagar. The CM took to Twitter to wish the people of Gujarat on its 63rd foundation day. "Heartiest wishes to all the citizens on Gujarat State Foundation Day - Gujarat Gaurav Diwas. Grateful salute to all those who have contributed to the establishment

Government constantly working for democratisation of technology: PM Modi

Prime Minister Narendra Modi on Friday inaugurated 91 FM transmitters and said this would revolutionise the radio industry, while asserting his government was working constantly for the democratisation of technology. Underscoring the emotional connect of his generation with the radio, Modi said he has a relationship with the medium as a host too as he referred to the upcoming 100th episode of Mann Ki Baat this Sunday. "This kind of emotional connect with the people of the country was possible only through the radio. Through this, I remained linked to the strength of the country and the collective power of the duty among the people of the country," he said. Modi said government initiatives such as the Swachh Bharat Abhiyaan, Beti Bachao Beti Padhao, and Har Ghar Tiranga became people's movements through the Mann Ki Baat. "Therefore, in a way, I am part of your All India Radio Team," the prime minister said after virtually inaugurating 91 FM transmitters covering two crore people acr

Govt has taken several steps to ease intellectual property rights process

The government has taken several steps for filing of applications and reducing the pendency related to intellectual property rights (IPRs), a senior official said on Wednesday. Sumita Dawra, Special Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) also said innovation helps in promoting growth of a country. She urged the industry to fund the girl child for their education and higher studies and to go for Phd in other countries like Japan, Korea, the US and the UK. She also called for increasing collaboration between academia and industry to promote innovation. "The government has taken several steps to reduce pendency of IPR applications. Online processes have been introduced," Dawra said here at CII's convention on IPR.

Government's wheat procurement up 12% at 11.1 mn tonne so far in FY24

The government's wheat procurement rose 12 per cent to 111 lakh tonne so far in the ongoing 2023-24 marketing year (April-March), from 99 lakh tonne in the year-ago period, according to the food ministry data. "Wheat procurement is progressing smoothly," said a senior food ministry official. About 11,89,237 farmers have been benefitted so far from the procurement operation with an expected MSP outflow of Rs 23,663.63 crore, the official added. As the wheat crop was impacted in some key growing states due to the recent untimely rains, the Centre has relaxed quality norms for procurement of wheat in five states -- Madhya Pradesh, Uttar Pradesh, Punjab, Haryana and Rajasthan. Food Corporation of India (FCI) is the national nodal agency that undertakes procurement of wheat at the minimum support price along with state agencies. The procurement is done not only to protect the interest of farmers but also to maintain a buffer stock to be used for various welfare schemes. The government

Govt approves over 2,600 4G towers for Arunachal villages; Rs 2,675 outlay

These 254 4G mobile towers will be dedicated to the nation on April 22, by Communications Minister Ashwini Vaishnaw

Sambalpur violence: Govt extends suspension of internet till April 22

The Odisha government on Thursday further extended the suspension of internet services in Sambalpur district by another 48 hours even as the normalcy was fast returning in the violence-hit western Odisha city. A fresh order issued by the state Home Department said internet services will remain suspended till 10 am on April 22. However, the broadband and leased lines will be operational in the western Odisha district including Sambalpur city from 10 am to 5 pm from Thursday. The administration suspended internet service across the district following a violent clash between two communities in Sambalpur city on April 12 during a bike rally and Hanuman Jayanti celebration on April 14. The internet service is suspended in the district in order to stop the spread of rumours. Many people including 10 cops were injured in the two back to back clashes in the city. One tribal youth was allegedly killed during the clash. However, police claim the murder of the tribal youth was not linked to t

Govt to set up panel to work on model builder-buyer agreement: Official

The government has decided to set up a committee to work on a model buyer agreement to help streamline the homebuying process and protect consumers from potential abuses, among others, a top government official said on Tuesday. The committee that will draw members from judges, national and state consumer commissions, various consumer bodies, lawyers as well as from the Ministry of Consumer Affairs, is expected to be in place within the next three months, Consumer Affairs Ministry Secretary Rohit Kumar Singh told reporters here. The official earlier addressed a round table conference on 'How to Effectively Redress the Grievances Pertaining to Real Estate Sector', in the city, hosted by the Department of Consumer Affairs, in association with the Government of Maharashtra. The problem (dispute between the home buyers and the developer) could be resolved quite to an extent if the contract between a builder and a buyer is standardised and uniformity is brought about. It should be a uniq