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Monthly Archives: February 2021

SEZ Policy

The Special Economic Zones (SEZs) policy was launched in April, 2000.  The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received Presidential assent on the 23rd of June, 2005.  The SEZ Rules, 2006 came into effect on 10th February, 2006. The salient features of the SEZ scheme are:- A designated duty free enclave to be treated as ...

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Incentives to Foreign Companies

The Government of India is making continuous efforts under InvestmentFacilitationfor implementation of Make in India action plans to identify potential investors. Support is being provided to Indian Missions abroad and State Governments for organising events, summits, road-shows and other promotional activities to attract investment in the country under the Make in India banner. Investment Outreach activities are being carried out ...

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Export Targets

India’s exports during the last three years are as under: Year Exports (Merchandise +Services) (USD Billion) Growth (%) 2017-18 498.61 13.31 2018-19 538.08 7.91 2019-20 526.55 -2.14 Source: DGCI&S& RBI Eexport targets are set for Special Economic Zones (SEZs)/Export Oriented Units (EOUs). The SEZ units/EOU units are under obligation to achieve positive Net Foreign Exchange (NFE) earning to be calculated ...

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Vocal for Local

Government of India has issued the Public Procurement (Preference to Make in India) Order,2017 as amended on 16/09/2020 to encourage “Make in India” and promote manufacturing and production of goods and services in India with a view to enhancing income and employment. This Order is applicable to all Ministries, Departments, attached or subordinate offices and autonomous bodies controlled by the ...

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Industrial Corridor Projects

Government of India is developing various Industrial Corridor Projects as part of National Industrial Corridor Programme which is aimed at development of greenfield industrial cities in India in order to compete with the best manufacturing and investment destinations in the world. National Industrial Corridor Development & Implementation Trust (NICDIT) has been constituted for unified development of Industrial Corridors in the ...

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Steps taken by the Government to achieve the target of augmentation of coal production capacity

Government has taken the following steps to achieve the target of augmentation of coal production capacity: 1. Single Window Clearance System has been launched. 2. Guidelines for procedure and approval of mining plan has been simplified. 3. Auctioning of coal mines for commercial sale of coal started. 4.  Regular review and monitoring of allocated coal mines in the past. 5.  ...

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National Coal Index

Ministry of Coal has started Commercial Auction of coal mines on revenue share basis. In order to arrive at the revenue share based on market prices of coal, one National Coal Index (NCI) was conceptualized. The NCI is a price index which reflects the change of price level of coal on a particular month relative to the fixed base year. ...

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Reforms in Coal Sector

The Mineral Laws (Amendment) Act, 2020 was enacted to amend the Coal Mines (Special Provisions) Act, 2015 [CMSP Act] and the Mines and Minerals (Development and Regulation) Act, 1957 [MMDR Act]. The amendments in the Acts enabled following. (i) Allocation of coal blocks for composite prospecting license-cum-mining lease which will help in increasing of the inventory of coal, lignite blocks ...

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Esic Dispensaries and Hospitals

The Total number of hospitals and dispensaries, including Dispensary cum Branch Office (DCBO), run directly by the Employees’ State Insurance Corporation (ESIC) across the country, are 49 and 92 respectively.  The list of the number of ESI beneficiaries state wise including the state of Punjab is given below: The ESI Corporation has decided to provide access to non-insured persons/ common ...

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DGGI Gurugram arrests man for fraudulently availing input tax credit of more than Rs 69 crore

The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Shei Surender Kumar Gupta resident of New Delhi on charges of availing and passing on fake input tax credit by way of receipt/issuance of invoices without any actual supply of goods or services. It is apparent from the investigation conducted till date, that Shri Surender ...

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