Category: Corporate

In order to further step up coking coal production, the Ministry of Coal has identified four coking coal blocks and the Central Mine Planning and Design Institute (CMPDI) also will finalize Geological Report (GR) for 4 to 6 new coking coal blocks in the coming months. These blocks may be offered in subsequent rounds of auction for private sector to further increase domestic raw coking coal supply. With these measures being undertaken by the Ministry under Aatmanirbhar Bharat, domestic raw coking coal production is likely to reach 140 Million Ton (MT)…

The central bank of the 5th largest economy of the world has decided to increase the policy repo rate by 35 basis points to 6.25%. Consequently, the standing deposit facility (SDF) rate stands adjusted to 6.00 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.50 per cent. Delivering the bimonthly Monetary Policy Statement of the RBI through the RBI’s YouTube channel today, the Governor Dr. Shaktikanta Das informed that the Monetary Policy Committee has also decided to remain focused on withdrawal of accommodation to ensure…

Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said, Government proposes to set up more nuclear power plants for augmenting production of clean energy. In a written reply to a question in the Lok Sabha, Dr Jitendra Singh said, in addition to the eleven (11) reactors (8700 MW) under construction, the Government has accorded administrative approval and financial sanction for construction of ten (10) indigenous 700 MW Pressurized Heavy Water…

All states should establish price monitoring centres in all districts, urged Shri Rohit Kumar Singh, Secretary Department of Consumer Affairs during a day-long workshop in Guwahati, Assam today. He said that that the Centre intends to achieve target of having 750 price monitoring centres by March 31st 2023 for which financial support will be assured. The Secretary explained that through Price Monitoring Division, the Centre is making all efforts to control prices of essential commodities thereby, keeping check over inflation. The Department of Consumer Affairs regularly generates data about price and…

After the successful auction of 64 coal mines in the first five tranches, Ministry of Coal had launched the process for auction of 133 coal mines under 6th round of commercial auctions of which 71 coal mines are new coal mines and 62 coal mines are rolling over from earlier tranches of commercial auctions held in November 2022. Additionally, eight  coal mines under 2nd attempt of 5th round of commercial auctions were also launched where single bids were received in the first attempt. Under commercial auctions, there is no technical or financial eligibility criteria…

Shri Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Government of India, and His Excellency Dr. Nayef Falah M. Al-Hajraf, Secretary General, Gulf Cooperation Council (GCC), held a Joint Press Conference, in New Delhi today, to announce the intent to pursue negotiations on the India-GCC FTA. With forward-looking and solution-oriented deliberations, bilateral engagements witnessed significant progress on all matters of mutual interest across the entire gamut of bilateral economic relations between India and the GCC nations. Both sides agreed to expedite conclusion of…

The total coal production in the country stands at 448 million tonnes (MT) as of October, 2022 which is 18 % higher than the production of the corresponding period of last year.  The growth of coal production from Coal India Ltd (CIL) is also more than 17%.  The Ministry of Coal is planning to build stock at domestic coal-based plants to the tune of 30 million tonne by the end of November, 2022.  It has plan to keep building the stock so that by the end of 31st March, 2023, Thermal…

A decline in exports in sugar season 2023 (October 1, 2022, to September 30, 2023), together with a 3% increase in the fair and remunerative price (FRP) of sugarcane (effectively for 10% recovery rate), will impact the profitability of sugar mills this fiscal.  Sugar exports are likely to decline to ~8-8.5 million tonne1 on-year in SS 2023 from an all-time high of 11.2 million tonne last season, despite production staying stable at 39.5-40.0 million tonne. This will be largely on account of two factors: one, higher diversion of sugar for…

The Ministry of Micro, Small, & Medium Enterprises (MSME) organised a National Seminar on Growth and Development of MSMEs in Imphal, Manipur today to generate awareness about the Central Government’s schemes and policies for the MSME sector. Addressing the Seminar, Union Minister for MSME, Shri Narayan Rane, emphasized on the fact that Manipur will emerge as the premier gateway to   ASEAN because of the combined efforts of Government of India and Government of Manipur. The establishment of one of the Technology Centres of Ministry of MSME and the implementation of…

The provisional payroll data of EPFO released on 20th November, 2022 highlights that EPFO has added 16.82 lakh net members in the month of September, 2022. Year-on-year comparison of payroll data reflects an increase of 9.14% in net membership addition in September, 2022 as compared to the corresponding month during last year in 2021. The net enrolment during the month is 21.85% higher than the monthly average recorded during the last fiscal. As per data, around 2861 new establishments have started complying under the Employees’ Provident Funds & Miscellaneous Provisions Act,…