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Monthly Archives: June 2018

Cabinet approves Mechanism for procurement of ethanol by Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol Programme- Revision of ethanol price for supply to Public Sector OMCs 

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the Mechanism for procurement of ethanol by Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme- Revision of ethanol price for supply to Public Sector OMCs. Now, CCEA has approved  the following for the forthcoming sugar season 2018-19 during ...

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Cabinet approves capital infusion in Export Credit Guarantee Corporation Ltd. 

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the capital infusion of Rs.2000 crore for strengthening of  Export Credit Guarantee Corporation (ECGC).  The amount would be infused in the three financial years i.e. Rs.50 crore in 2017-18, Rs.1450 crore in the year 2018-19 and Rs.500 crore for 2019-20. The infusion would enhance insurance ...

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Cabinet approves establishment of additional 6.5MMT Strategic Petroleum Reserves at Chandikhol in Odisha and at Padur, Karnataka  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approvedestablishment of additional 6.5 Million Metric Tonne (MMT) Strategic Petroleum Reserve (SPR) facilities at two locations, i.e. Chandikhol in Odisha and Padur in Karnataka, including construction of dedicated SPMs (Single Point Mooring) ...

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President Inaugurates Udyam Sangam-2018 to mark UN SME Day 

President of India, Ram NathKovind, said that the MSME sector is leveraging the demographic dividend of the countryand promoting inclusive growth in rural and backward areas. He said that MSME sector accounts for around60% employment in India. He said that there are 6.5 crore MSME units across the country employing over 11 crore people and contributing over 10% growth which ...

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Visa Exemption to Foreign Designers in Handicrafts Sector 

Handicrafts sector has been exempted from minimum salary condition (Rs. 16.25 lakhs per annum) for grant of employment visa to foreign designers for a period of 2 years i.e. till 30.06.2020. Export Promotion Council for Handicrafts (EPCH) had sought the intervention of Union Minister of Textiles for getting the exemption from the minimum salary condition for grant of employment visa ...

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6 more steel products brought under Quality Control order 

   In its commitment to ensure 100% quality regime in steel sector, Ministry of Steel has issued two Quality Control orders namely Steel and Steel Products (Quality Control) Order, 2018 and Stainless Steel Products (Quality Control) Order, 2018 vide Notification No S.O 2998 (E) and S.O. 2999 (E) respectively dated 20th June 2018.  As a result, 16 more steel products have been brought ...

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Private sector must play key role in exploration of the deep seated minerals 

The Union Government has allowed 100 per cent Foreign Direct Investment (FDI) in the mining sector and exploration of metal and non-metal ores under the automatic route, which will propel growth of this sector. Addressing the 7th India Minerals and Metals Forum in New Delhi today Joint Secretary Ministry of Mines, Mr Anil Kumar Nayak said Power and cement industries are ...

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Rate of Exchange of Foreign Currency in Indian Rupee notified. 

  In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs (CBIC) No.49/2018-CUSTOMS (N.T.), dated  7th June, 2018 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs ...

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2nd Edition of MSME Pulse Report by SIDBI-TransUnion CIBIL for June 2018 Quarter released

Small Industries Development Bank of India (SIDBI), a premier Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and TransUnion CIBIL, a Credit Information Company, in a joint endeavor with TransUnion CIBIL brings-out MSME Pulse, a Quarterly Report on MSME Sector, for providing the policy makers, regulators and industry with precise data-driven ...

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KVIC bags Air India contract 

The Khadi and Village Industries Commission (KVIC), for the third successive time, received an order of Rs 8 crore from Air India for the supply of amenity kits consisting of Khadi herbal beauty care products for its international passengers.The amenity kits include Khadi hand sanitizer, moisturizer lotion, handmade soap, lip balm, Khadi rose face wash and essential oils. Giving this ...

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