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ICEMA Wins,Ban Dropped

Recently, the Supreme Court heard an application by the Indian Construction Equipment Manufacturers' Association (ICEMA) and the Tractor Manufacturers' Association (TMA) as they sought a clarification on the ban on the registration of BS-III vehicles after March 31, 2017.

BS-III ban will not apply on farm, construction equipment: Supreme Court

The Supreme Court has clarified that farm equipment and construction equipment vehicles (CEVs) will not come under the BS-III ban and the manufacturers of these equipment can continue to sell BS-III range of farm and construction equipment.

Manufacturing will be the Key

The worst may not be over yet for the Indian manufacturing sector. Lack of growth in the manufacturing sector continues to be the Achilles? heel of the Indian economy, according to Finance Minister P Chidambaram. Emphasising the need to focus on manufacturing and exports, Chidambaram announced a goal to increase the share of manufacturing in GDP to 25 per cent and to create a hundred million jobs over a decade, in his interim budget speech.

CE industry hails duty cut

The construction equipment (CE) industry hailed the two per cent cut in excise duty announced by Finance Minister P Chidambaram in the interim budget. However, the industry said a 4 per cent reduction in the duty would have been more apt given the size and importance of the segment. The Indian Construction Equipment Manufacturers Association (iCEMA) said the move would certainly help this important industry that helps build infrastructure and is down by over 30 per cent in the last couple of y

What's up doc?

At the 3rd Equipment India conference in September 2012 when I was sharing my views with the equipment captains over coffee, they were apprehensive and I was optimistic.

Centre wants to revive iron ore mining

The Union government is very keen to restart iron ore mining in the country and export more quantity of ore, said Union Finance Minister P Chidambaram on August 22. He added that the government need to find a way to export iron ore. Production of steel is vital for the country's manufacturing sector, he said.

FM Hopes 6 Persent GDP Growth

Finance Minister P Chidambaram expressed hope that the Indian economy may expand at 6 per cent or slightly more during 2013-14.

FM asked to facilitate mining in Goa

Sesa Goa, in a letter to Finance Minister P Chidambaram, requested the latter to facilitate early resumption of iron ore mining in Goa. PK Mukherjee, Managing Director of Sesa Goa said in the letter that that one-third of Goa's population is dependent on mining. He further said the state government and the industry have already initiated several steps to stre

CCEA may clear fuel pass through mechanism

In order to enable power plants to pass on the rise in the cost of imported fuel to end consumers, the Cabinet Committee on Economic Affairs (CCEA) may clear the fuel pass through mechanism. Such a move may encourage power producers to use the full capacity of their power plants by importing fuel instead of running the plant at suboptimal capacity beca

Panel gives its nod for setting up of coal regulator

An approval for setting up a regulatory authority for the coal sector has been given by a ministerial panel headed by Finance Minister P Chidambaram on May 29. Such authority is expected to bring greater transparency and efficiency in coal mining operations. The panel?s decision comes at a time when the government is parallelly looking at ways to open up coal mining for the private sector.

Govt okays 4-laning of Dimapur-Kohima h'way in Nagaland

The Union government on May 23 approved the 4-laning of Dimapur-Kohima National Highway in Nagaland at a total cost of Rs 1,089.87 crore. The Cabinet Committee on Economic Affairs approved the implementation of the project of 4-laning of the Dimapur-Kohima section from 124.1 km to 172.9 km of NH-39, Finance Minister P Chidambaram said in Delhi. This project is under the special Accelerated Road Development Programme (SARDP-NE) in North Eastern Region, he said.

Proposed regulator to fix price of surplus coal from captive mines

A ministerial committee headed by Finance Minister P Chidambaram decided to give the power to fix price for the surplus coal produced by captive mines to the proposed coal regulatory authority. Accordingly, the coal ministry would include a separate clause in the draft Coal Regulatory Authority Bill covering

Proposed coal regulator may have only adjudicating power

The Group of Ministers (GoM) on setting up of the proposed coal regulator decided that the regulatory body would be empowered to resolve disputes including disputes arising out of fuel supply agreements (FSAs). However, the group decided not to give the power of fixing coal price to the proposed regulator. This was decided at a recent meeting of

Bankers' initiative

Following the Finance Minister P Chidambaram's meeting with the public sector banks and state-owned financial institutions chiefs on March 18,

Govt may set up coal regulatory authority in 4 months

In the next two to four months, Indian government plans to set up an independent regulatory authority for coal sector, Finance Minister P Chidambaram said at the Canada India Business Council meeting. The proposed regulatory authority would become effective mechanisms to address problems being faced in the implementation of coal projects

Experts want govt to allow pvt participation in coal sector

In order to increase coal production in the country, experts suggest government to end the monopoly of Coal India (CIL) and its subsidiaries in the sector. They suggest the government to amend laws to allow more private participation in the space. They want the government to allow foreign and local mining comp

Centre to set up road regulatory authority

Union Finance Minister P Chidambaram on March 28 announced the proposal to set up a road regulatory authority to address issues such as financial stress, construction risk and contract management in the sector.The Minister said the independent regulatory authority will be set up in 2014 to address all issues faced by the road sector.

Coal importers evade duty via false classification

The Directorate of Revenue Intelligence (DRI) in Gujarat detected around Rs 600 crore of import duty evasion by coal importers by falsely classifying coal in 2012-13. These coal importers have allegedly evaded duty by reporting bituminous coal imports as steam coal. Earlier, the government waived customs duty on steam coal and imposed only a concessional countervailing duty (CVD

Budged-IT!

A company investing Rs 100 crore or more in plant and machinery during the period April 1, 2013 to March 31, 2015 will be entitled to deduct an investment allowance of 15 per cent of the investment.

Shriram rolls out first Automall

Shriram Transport Finance Company, India?s largest asset financing company, launched Shriram Automall in Chennai.

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