Economy

CERC allows GST relief for solar projects

Providing a relief to solar power developers, the Central Electricity Regulatory Commission (CERC) has held that the introduction of the GST would be considered as ‘change in law’.

Wow! Single payment card soon for smooth travel across the country – What commuters must know

The ministry is working with the National Payments Corporation of India, which is in talks with all the banks and other financial institutions so that payments made through the card can be accepted ac

FPIs sell bonds worth $1 bn so far in September on weak rupee

Since January, the rupee has lost 12% and closed at 72.3825 to the dollar on Wednesday. Noticeably, the US dollar Index — Dollex — has weakened by nearly 1% since the beginning of September.

2 businessmen arrested for Rs 79-cr GST evasion

The government on Thursday said it has arrested two Gurugram-based businessmen for evading Rs 79.21 crore under the GST by issuing fake invoices worth Rs 450 crore to claim input tax credit on non-exi

Kerala seeks borrowing limit hike, cess for rebuilding

The state also sought imposition of a cess on certain luxury items to garner resources. The proposal is likely to be considered in the next Goods and Service Tax (GST) Council.

Power sector: Stressed assets – Small lenders to submit report by Oct 10

Small lenders to stressed power generation assets have been asked to furnish their resolution plans before October 10 to a group of bankers which met on Thursday to discuss the issue.

‘Preventive vigilance better tool for public institutions’, says Urjit Patel

Preventive vigilance is a more effective tool of good governance at public sector institutions compared with punitive or detective vigilance, Reserve Bank of India (RBI) governor Urjit Patel said on T

Disinvestment: Coal India, KIOCL to buy back shares next month

Giving a leg-up to the Centre’s disinvestment scheme, state-run Coal India (CIL) and KIOCL (formerly Kudremukh Iron Ore Co) will buy back their own shares next month.

Auditor resignations: Govt planning review of auditing standards

The ministry will also likely soon ask the Institute of Chartered Accountants of India to look into the issue and suggest ways to deal with it.

Agriculture: Jaitley concerned over declining share of public investment

Finance minister Arun Jaitley has expressed concern over a declining share of public investment in agriculture while subsidies to the sector are on the rise.

Dealer delight! Gujarat High Court strikes down GST provision as unconstitutional

The Gujarat High Court has struck down a provision of the goods and services tax (GST) Act which prohibited 'first stage dealers from transitioning excise duty credit on goods procured more than a yea

Kerala seeks Central staff’s LTC umbrella to save tourism

According to the estimates culled together by the State Disaster Management Authority, tourism has suffered Rs 1,800-crore losses —Rs 300 crore in infrastructure of hotels and resorts and Rs 1,500 c

Gujarat discovers Rs 2.44/unit solar tariff in latest auction

The latest reverse auction for 500 MW capacity of solar power in Gujarat has discovered tariff of Rs 2.44/unit, matching the lowest-ever rate in the country for the fourth time after it was first foun

Indian Railways to float new global tender for 7.5 lakh tonne rails; likely worth Rs 4,000 crore

Indian Railways is all set to float a global tender of 7.5 lakh tonne (likely worth around Rs 4,000 crore). It is faced with a dilemma to whether reduce its targets for commissioning of new lines so

‘Fin Services sector gets highest ever half-yearly PE/VC funding at $4.2 bn’

The first half of calendar year 2018 has seen financial services emerge as a key sector attracting investments by private equity (PE)/Venture Capital (VC) players at $4.2 billion across 74 deals, a re

Panel discusses irregular discom payments, RBI not present

The empowered committee on stressed power assets, which met for the second time on Friday, deliberated on the vexed issue of irregular payments from discoms to independent power producers.

Homebuyers’ group wants West Bengal to implement RERA

RERA was fully notified in 2017 and states were given powers to notify their respective rules and appoint regulatory authorities.

Telcos seek time to comply with face recognition norm

Telecom operators have urged the Unique Identification Authority of India (UIDAI) for more time to comply with its directive on using face recognition for Aadhaar authentication, as device manufacture

Four states show interest in buying power sans PPAs

Four states — Telangana, Bihar, Tamil Nadu and Haryana — have evinced interest to buy power under a government scheme to promote purchases from plants without power purchase agreements (PPAs), sou

No govt nod required for public companies for managerial compensation: MCA

No government appr-oval would required for public companies for paying salaries beyond a certain threshold to their managerial personnel, an official release said on Friday.

5-MTPA JV unit: Govt in talks with Japanese, Korean firms for steel plant

Prodded by the Prime Minister’s Office (PMO), the steel ministry has initiated talks with Japanese and Korean steel companies for setting up a 5-mtpa steel plant through a joint venture with state-r

GST: TDS/TCS provisions to come into effect from October 1

The government on Thursday notified the form for audit report and reconciliation statement that needs to be filed annually by taxpayers with a turnover of more than Rs 2 crore.

Electrification of all railway lines cleared

While around 46% of the railways’ 66,000-route km are already electrified and work on another 20,000 km is ongoing, the carrier will now also electrify the rest of the 13,675 km at a cost of Rs 12,3

Cabinet decisions: Oil producers to get govt sops for higher recovery

With a view to ramping up production from ageing hydrocarbon fields, the Cabinet on Wednesday approved a policy to incentivise enhanced and improved recovery (ER/IR) methods for oil and gas, and uncon

DSF bid round II may attract $1.2-bn investments: DGH

The Directorate General of Hydrocarbons (DGH) is hopeful of achieving $1.2 billion worth of investments after the second round of bidding of discovered small fields (DSFs) is completed by the bidders.

Uttar Pradesh becomes 1st state to make RFID tag must for e-way bill

Uttar Pradesh has made it mandatory for vehicles operating in the state to use the radio frequency identification device (RFID) tag along with e-way bill from November 1.

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