• MORE MARKET STATS

Deepa Jainani

Articles By Deepa Jainani

308 Articles

Do not increase SAP, UP sugar mills urge CM Yogi Adityanath

UPSMA seeks `15/quintal subsidy to compensate for expected increase in production cost

Producing ethanol will not only help stabilise price due to diversion of sugar, but also ease fair and remunerative price (FRP) payments to farmers, he said.

UP cuts mandi tax by 1%; farmers, traders to get relief

According to officials of the agriculture department, the move would encourage farmers and traders to trade within the mandis.

UP’s tax receipts in October up 21% year on year

Revenue collection from stamp and registration fees was Rs 1,806 crore as against last year’s Rs 1,368 crore. This was 97% of the month’s target of Rs 1,860 crore.

According to the finance department’s revenue data for October, state excise duty collections grew to Rs 2,403 crore this year from Rs 1,861 crore in the same period last year, an increase of nearly 30%.

Global firms, IIM-A submit bids for making UP $1-trillion economy by 2025

Bidders include Boston Consulting, Grand Thorton, Nangia and Co, Deloitte Touche Tohmatsu India and IIM-Ahmedabad.

Consumer indiscipline: Liquidity package fails to stem UP discoms’ dues to gencos

Also, in order to help the cash-strapped discoms, the power ministry has reduced late payment surcharges, a move could potentially provide a relief of about Rs 6,000 crore annually to them.

The over-dues — payment default of 45-60 days or more — of all state-run discoms in the country to power plants is seen to increased 52% annually to Rs 1.2 lakh crore at August end.

Four sugar companies account for nearly 45% of UP’s cane arrears

Modi Sugar, which has two sugar mills, has dues of Rs 467 crore and has made 40% payments, Yadu group with Rs 98 crore pending has 2 units and paid only 26% of its total cane dues.

Talking to Financial Express, a mill owner requesting anonymity said a majority of the mills have cleared more than 80% of their dues and that they are waiting for the state government to clear their long-standing cogen dues and the subsidy amount from the central government to clear the remaining dues.

Sugar sector bats for favourable cane juice to ethanol policy in UP

Taking advantage of Central government’s assistance for setting up ethanol distilleries, some more captive distilleries are in various stages of commissioning, which would further increase the ethanol supply from the state.

A positive policy encouragement would go a long way in reducing excessive sugar production and its resultant difficulties.

Jewar airport in Noida: Swiss developer to begin work on Rs 30,000-cr by early next year

The airport, estimated to cost about Rs 30,000 crore, will cater to 70 million passengers annually after the completion of all the four stages of the project.

The airport will be developed on a public-private partnership model and is scheduled to open in 2024.

UPRERA recommends 2 percent relaxation in stamp duty

UPRERA chairman Rajiv Kumar said that the move is aimed at helping the realty sector recover from the crisis brought on by the pandemic and generate revenue for the state government.

According to officials of the department of stamps and registration, the recommendation, if accepted, will be a boon for the department, which has been lagging in revenue collection. (Representative image)

Zurich International to sign deal on Oct 7 to build Jewar airport

According to an official in the civil aviation department, the agreement will be signed by the CEO of Zurich Airport International and the CEO of Noida International Airport Limited (NIAL), Arun Vir Singh.

Uttar Pradesh’s Rs 4,800-crore solar project gets Central government’s nod

MNRE has asked the Bundelkhand Saur Urja, the solar power park developer (SPPD), to submit the detailed project report at the earliest.

renewable energy, green energy sector, investment in renewables, foreign investors

Nearly 26 lakh unmetered connections sap UPPCL’s energy

The extent of the problem can be understood by the fact that, of the UPPCL’s total consumer base of 281 lakh, about 25.93 lakh (9.23%) connections are unmetered.

Shockingly, Purvanchal Vidyut Vitaran Nigam (PuVVNL), the Varanasi discom that is soon going to be put out for bidding, accounts for 49.24% (1,27,6747) of these unmetered connections.

Centre sends bid doc, UPPCL expedites discom privatisation

Talking to FE on condition of anonymity, an official said that work on preparing the tender document is on and bidding is likely to start by mid-October.

In separate letters to directors of UPPCL – commercial, distribution and finance – the UPPCL MD has asked them to provide information of commercial, technical and financial parameters of the six zones of the discom.

UP discoms’ losses mount as Saubhagya consumers don’t pay bills

Similarly, in urban areas, PVVNL managed better than others with a turn-up of 78.80%, followed by DVVNL (73.10%), MVVNL (71.54%). Here, too, PuVVNL ended up last with 78.80% turn-up.

UP discoms’ losses in FY19 were to the tune of Rs 6,000 crore.

Uttar Pradesh to generate 12,734 MW power by 2022

While the state currently generates 5,474 MW, the upcoming power stations will add another 7,260 MW by 2022. Of this, 1,320 MW power generated will be commissioned by the end of this year.

Kanpur Metro Project: City looks to come of age with new metro network

With a Rs 5,552-crore loan from EIB in its kitty, the UP govt is burning midnight oil to commission the first stretch of Rs 11,076-cr project by the end of next year

The urgency with which the project is being implemented is linked to Kanpur's dire need for a modern and efficient public transport system.

GSDP goal: UP govt sticks to $1-trillion target by 2025, seeks consultant

Given that the gross state domestic product (GSDP) in FY20 was about Rs 17.95 lakh crore, achieving the target will require raising it by over 4 times in five years; of course, the deep economic contraction caused by Covid-19

The country’s real GDP is estimated by various analysts to shrink by up to 15% in FY21.

APMCs losing trade share post reforms; crop arrivals fall as traders, farmers kick middlemen out

Signs of a weakening of the Agriculture Produce Marketing Committee (APMC) networks are now evident across major farm production centres in the country.

UP’s August revenue surpasses year-ago level on liquor sales

The state government’s decision to resume sale of liquor since May 4, when the third phase of the lockdown was imposed, has actually pulled up the state’s revenue collections in a big way.

Giving details of the state’s revenue collections, state finance minister Suresh Khanna said the state is gradually recovering from the losses caused by the lockdown.

For half of UP mills, fixed and remunerative price better than state advised price

For the current season, the FRP is Rs 275 per quintal at a 10% recovery rate and this goes up to 1% for every 0.1% hike in recovery rates.

So, if the SAP is not increased for the next season, and there is no indication right now that it will be raised, particularly since there are no elections, the SAP is better for mills that have a recovery rate of over 11.25%.

With sugar SAP on the cards, UP govt caught in crosshairs

“But the counter narrative here is that the industry still owes approximately Rs 11,000 crore to farmers for the 2019-20 season and its own operating costs will also increase due to the hike in fuel costs and the reduction

The SAP in Uttar Pradesh is usually higher than the Centre’s FRP.

Smart meter shock for UPPCL, regulator serves showcause notice

The Commission has particularly held the senior management accountable for such casual approach and response on an issue which affected large number of consumers and could have endangered the grid security.

The response of the UPPCL and its licensees not only shows its total apathy to consumers, but also goes on to show the grave callousness with which they are handling the issue as well as the regulatory directions.

UP cane arrears still at Rs 11,000 crore; big private mills owe 55%

Together, these players owe farmers nearly Rs 6,234 crore, which is nearly 55% of the total dues of Rs 11,000 crore.

This German defence firm keen to set up base in UP with $1 billion investment; partner with BHEL

The company has shown keen interest in investing in the Uttar Pradesh Defence Corridor and is in talks with BHEL as well as the Uttar Pradesh government in this regard.

The CEO of Rheinmetall Electronics Division, Susanne Wiegand, and the CEO of Rheinmetall Air Defense, Fabian Ochsner held a video conference with UP’s investment and promotion of MSME minister Siddharth Nath Singh over the proposed investment in the state.

UP asks EESL to put smart meter project on hold

Three companies had bagged the contracts to supply smart meters to EESL. While Genus Power was to supply 50% of the order, L&T was to supply 30% and Allied Engineering the remaining 20% of the order.

UP Cabinet approves draft bill allowing MSMEs to start operations within 72 hrs of application, without wait for NOCs

Interestingly, until now UP did not have its own MSME Act and was working on the basis of the central Act.

Withholding payments to IPPs goes against intent of the package: power ministry tells UP

Uttar Pradesh will receive around Rs 21,000 crore from the Centre’s Rs 90,000 crore liquidity infusion scheme to clear the outstanding dues owed to IPPs as on March 31.

The total outstanding from central government departments stood at Rs 7,672.71 crores, from decentralised government departments Rs 2,707.5 crore and Rs 4,861.6 crore was receivable towards bunker (weavers) subsidy.
Advertisement
Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

Stock Market

Advertisement
Advertisement