Page 2 - Subsidy

Odisha govt gave subsidy of Rs 154 cr to EV owners since FY23: Bibhuti Jena

The Odisha government has so far provided subsidy of Rs 154.27 crore to electric vehicle owners since the 2022-23 financial year, a minister said on Thursday. The sale of EVs has also shown an increasing trend in Odisha, after the government started giving subsidy from September 1, 2021, Transport Minister Bibhuti Bhusan Jena said. Jena said this in a written statement in the assembly. The state government has so far distributed a subsidy of Rs 154.27 crore to EV owners since the 2022-23 financial year, Jena said. While a subsidy of Rs 8.83 crore was disbursed during 2022-23, it was increased to Rs 57.21 crore during 2023-24. The Odisha government has provided subsidy for 14,182 EVs registered during the fiscal year 2022-23, which rose to 36,518 during 2023-24, it said. During 2024-25 till August, the Odisha government has already distributed subsidies for 38,766 EVs registered in the state, the statement said. The state is providing a maximum subsidy of Rs 20,000 for each two-w

Budget 2024: Subsidies likely to remain same, rural funding may rise

The Budget is anticipated to be unveiled in the third week of July. The NDA 3.0 administration might strengthen specific welfare-oriented schemes, prioritising fiscal prudence

Delhi govt seeks L-G's nod on decision extending power subsidy to 2024-25

The Delhi government has sent the file of Cabinet decision to continue electricity subsidy scheme in 2024-25 for approval of Lieutenant Governor VK Saxena, government officials on Saturday said. The Delhi Cabinet on Thursday last approved the scheme for providing free electricity supply to consumers with monthly 200 units and 50 percent subsidy to those having 201-400 units consumption per month. However, Chief Minister Arvind Kejriwal speaking in the Assembly on Saturday on his government's budget for 2024-25 alleged that the BJP wanted to send him to jail and stop good works of his government like free electricity scheme and shut down Mohalla Clinics and hospitals. Finance Minister Atishi presented the Kejriwal government's budget with total outlays of Rs 76,000 crore in the Delhi Assembly on Monday. In Delhi, nearly 22 lakh families who consume up to 200 units of electricity will continue to get zero amount bills. Earlier, the chief minister after the Cabinet's decision to exte

Govt extends subsidy on cooking gas by a year at Rs 12,000 cr cost

Modi's government already hiked the subsidy for low income households twice last year to 300 rupees per liquefied petroleum gas (LPG) cylinder from 200 rupees earlier to rein in inflation

Cabinet clears hike in sugarcane FRP by Rs 25 to Rs 340 per quintal

The government on Wednesday announced hiking the sugarcane FRP by Rs 25 to Rs 340 per quintal for the 2024-25 season starting October. Fair and Remunerative Price (FRP) is the minimum price that mills have to pay to sugarcane growers. The decision to increase the FRP of sugarcane was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi. The Rs 25 per quintal hike is the highest by the Modi government and the move comes ahead of the general elections. Sugarcane is grown mainly in Maharashtra, Uttar Pradesh, and Karnataka. "Keeping in view interest of sugarcane farmers (GannaKisan), the Cabinet Committee on Economic Affairs has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2024-25 (October - September) at Rs 340 per quintal for a basic recovery rate of 10.25 per cent," I&B Minister Anurag Thakur said at a media briefing. The FRP has been determined on the basis of recommendations of the ...

With second PLI certification, IPO-bound Ola Electric eyes 13% subsidy

Ola Electric is the only two-wheeler electric company to receive a nod as incumbents struggle with localization standards

Fertiliser subsidy bill likely to be within FY24 BE: Minister Mandaviya

He said actual subsidy expenditure would have been lower if freight charges had not risen due to Red Sea crisis

No proposal to provide subsidy on import duty on EVs into India yet: Govt

There is no proposal to provide subsidy on import duty on imports of electric vehicles into the country, Parliament was informed on Wednesday. Minister of State for Commerce and Industry Som Parkash said the government has taken a series of policy initiatives and measures to create a conducive ecosystem to promote industrialisation and domestic value addition and to make India globally competitive. The government has also taken various steps to boost domestic and foreign investments in India to enhance local value addition under Make in India initiative, the minister said in a written reply to the Lok Sabha. "Presently, there is no proposal either to provide exemption from local value addition cost or to provide subsidy on import duty on import of electric vehicles in India," Parkash said. He also informed that the government has launched the Production Linked Incentive (PLI) scheme for automobile and auto component industry with a budgetary outlay of Rs 25,938 crore to provide ...

Despite subsidies, Budget maths sticks as Sitharaman enters home stretch

A crucial decision government has to take is whether to stick to the FY23 expenditure level or top it this year

India's subsidies may cost the govt Rs 50,000 cr more than its FY24 Budget

The subsidy outgo for FY24 was planned at Rs 4.03 trillion, but it could rise up to Rs 4.53 trillion

Greaves Electric Mobility refunds Rs 124 crore FAME-II subsidy to MHI

Greaves is among the seven electric two-wheelers (e2W) makers accused by the government of selling vehicles without complying with the localisation mandate

Centre approves Rs 22,303 cr subsidy on P&K fertilizers for rabi season

The FY24 Budget had estimated the subsidy expenditure on non-urea fertilisers at Rs 44,000 crore for the 2023-24 financial year

Uttarakhand CM releases Rs 90 crore subsidy to 40 industrial units

Uttarakhand Chief Minister Pushkar Singh Dhami on Saturday transferred a subsidy of Rs 90 crore to 40 industrial units under the Industrial Development Scheme. Under the Central Government's Industrial Development Scheme, 2017, manufacturing and service sector units established in Uttarakhand and Himachal Pradesh are given a subsidy of 30 per cent up to a maximum of Rs 5 crore on the investment made in plant and machinery. After transferring this grant amount to the accounts of 40 industrial units established in Uttarakhand, the chief minister said that this is a very important scheme for the promotion and expansion of industries in the state. Dhami thanked Prime Minister Narendra Modi and Union Commerce and Industry Minister Piyush Goyal for the grant of subsidy. Dhami said that the state government is continuously making efforts to promote industries in Uttarakhand and the 'Uttarakhand Global Investors Conference' is being organized in December to boost the sector. He said that

Govt shifts into high gear to expand subsidies to alternative fuel vehicles

According to a senior government official, there is a proposal to incorporate vehicles powered by alternative sources such as hydrogen and biofuels in the upcoming phase of FAME

Subsidy of Rs 150 cr distributed under PM's Employment Generation Programme

In the presence of KVIC Chairman Manoj Kumar, these fundamental agreements were signed with Prasar Bharati, NBCC (India) Limited, and Digital India Corporation, said an official statement

Himanta Biswa's wife got Rs 10 cr govt subsidy; Assam CM denies Cong charge

Assam Chief Minister Himanta Biswa Sarma clarified that neither his wife nor the company she is associated with has ever received any financial subsidies from the Centre

Electric two-wheelers push for DBT under FAME 3 subsidy scheme to consumers

Say huge delay in government's subsidy reimbursements choking their working capital

Pak caretaker FM rules out relief in power bills, says no space for subsidy

"Please manage your expectations," she said apparently after engagements with International Monetary Fund over government's desire for some programme relaxations to provide relief in power bills

Economic situation worse than anticipated, no space for subsidies: Pak FM

As protests continue across Pakistan against surging electricity bills, interim Finance Minister Shamshad Akhtar on Wednesday said the country's economic situation is "worse than anticipated" and was no "fiscal space" for subsidies to ease the burden of the people due to non-negotiable commitments with the IMF. Pakistan secured a crucial USD 3 billion loan from the Washington-based global lender in June under strict conditions that included raising power tariffs and phasing out all subsidies. During a meeting of the Senate's Standing Committee on Finance, Akhtar asserted that the interim set-up has inherited the IMF programme, hence, it was non-negotiable. Pakistan's economic situation, she said, was worse than anticipated and the government did not have fiscal space to provide subsidies, the Dawn newspaper reported. The minister said government institutions are suffering unbearable losses and underscored the need to accelerate privatisation, adding that 70 per cent of Pakistan's t

Govt plans to curb subsidised-urea diversion to plywood, other industries

The government has prepared a comprehensive action plan to crackdown on diversion of highly-subsidised urea to plywood and other industries, and violators could even face a jail term, according to official sources. The Union chemicals and fertilisers ministry will coordinate with other central ministries as well as states to curb the diversions and plans are also afoot to launch joint operations to prevent the diversion of agriculture-grade urea, the sources in the know said. Earlier this week, Union Chemicals and Fertilisers Minister Mansukh Mandaviya asked states and Union Territories to curb diversion of agriculture-grade urea to industries. Neem-coated urea is provided by the central government to farmers at a highly subsidised rate of Rs 266 per bag (of 45 kilograms), which is much cheaper than technical-grade urea meant for industrial use. In this backdrop, there are instances of diversion of agriculture-grade urea to industries that make resin/glue, plywood, crockery, mouldi