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Monthly Archives: July 2019

Petroleum Sector contributed Rs. 595,438 Crore to Exchequer in 2018-19 

Prices of petrol and diesel have been made market-determined by the Government with effect from 26.06.2010 and 19.10.2014 respectively. Since then, the Public Sector Oil Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel in line with international product prices and other market conditions. The total contribution to Central and State Exchequer from petroleum sector during the ...

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Index Numbers of Wholesale Price in India (Base: 2011-12=100) Review for the month of June,2019 

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of June,2019 rose by 0.2% to 121.5 (provisional) from 121.2 (provisional) for the previous month. INFLATION The annual rate of inflation, based on monthly WPI, stood at 2.02% (provisional) for the month of June,2019 (over June,2018) as compared to 2.45% (provisional) for the previous month and 5.68% ...

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Chemical Industrial cluster spurred by ICT Bhubaneswar to increase depth of industrialization in the State

The Executive M. Tech Programme in Process Engineering was inaugurated at the Institute of Chemical Technology (ICT,) Bhubaneswar campus . Gracing the occasion as the chief guest, Dr. Tapan Kumar Chand, Chairman-cum-Managing Director of aluminium major – National Aluminium Company Limited (NALCO), greeted and motivated the first batch of Industry Executives by addressing them as the first movers in Industry-Academia ...

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Impact of GST on Apparel Sector 

GST rates for garments and made up articles is 5% of sale value not exceeding Rs. 1000 per piece and 12% for articles of sale value exceeding Rs. 1000 per piece. The GST rates are lesser than the pre-GST incidence of taxes on these goods. To reduce the cost of garment industry, GST rate on manmade fibre yarns has been ...

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Employment in Textile Industry 

As per the latest available Annual Survey of Industries, employment in the Textiles and Wearing Apparel were 25.27 lakh in 2014-15, 26.48 lakh in 2015-16 and 26.97 lakh in 2016-17. Government has been implementing various schemes for welfare and development of textile workers/weavers including handicraft artisans.Under the group insurance scheme for powerloom workers, insurance cover is provided to all powerloom ...

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Cargo transportation on waterways rose from 55.2 mt in 2016 to 72.31 mt in 2018-19 

The Minister of State for Shipping (I/C) and Chemical & Fertilizers Shri Mansukh Mandaviya in a written reply to a question in Lok Sabha today informed that 111 National Waterways are being developed in phased manner for the purpose of shipping and navigation. The Minister informed that cargo transportation on waterways rose to 72.31 Million Tonnes in the year 2018-19, ...

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Large Number of Employment Opportunities created in MSME Sector with relatively Less Capital 

As per the 73rd Round of National Sample Survey (NSS), conducted by National Sample Survey Office, Ministry of Statistics & Programme Implementation during the period 2015-16, the estimated number of workers in unincorporated non-agriculture MSMEs in the country engaged in different economic activities excluding the MSMEs registered under (a) Sections 2m(i) and 2m(ii) of the Factories Act, 1948, (b) Companies Act, ...

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E-CIGARETTES 

As per a report of WHO, Electronic Nicotine Delivery Systems [ENDS] [also known as e-cigarettes] heat a solution to create an aerosol which frequently contains flavourants, usually dissolved into Propylene Glycol or/and Glycerin. ENDS aerosol contains nicotine, the addictive component of tobacco products. In addition to dependence, nicotine can have adverse effects on the development of the foetus during pregnancy ...

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Cabinet approves the Banning of Unregulated Deposit Schemes Bill, 2019 

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved the banning of Unregulated Deposit Schemes Bill, 2019.  It will replace the banning of Unregulated Deposit Schemes Ordinance, 2019. The banning of Unregulated Deposit Schemes Bill, 2019 will replace the Ordinance promulgated on 21st February, 2019, which will otherwise cease to operate after six weeks after reassembly of Parliament. ...

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Misuse of Export Promotion Schemes 

Foreign Trade Policy of the Government contains certain export promotion schemes which are primarily aimed at (i) providing customs duty exemption on import of capital goods for promotion of exports, (ii) providing customs duty exemption on raw materials, components and consumables for manufacturing goods for exports and (iii) providing compensation for neutralizing the disadvantages suffered on the goods and services ...

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