India to file appeal against Rs 10,000 crore award to Cairn Energy

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The government of India is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax. In December 2020, an international tribunal had unanimously ruled that India violated its obligations under the UK-India Bilateral Investment Treaty in 2014, when the income tax department had slapped a Rs 10,247-crore tax assessment […]

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India notifies modified scheme on ethanol production to assist distilleries

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The Indian government notified a “modified” scheme to provide financial assistance to distilleries producing first-generation ethanol from feedstocks, including cereals. The assistance will be given for capacity expansion, setting up of new ethanol distilleries or converting molasses-based distilleries to dual feedstock. In a statement, the government said sugar mills, distilleries or entrepreneurs are required to submit an application in a prescribed […]

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India plans for rapid procurement of kharif crops at MSP the marketing season 2020-21

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Indian government agencies have continued to procure kharif 2020-21 crops at the designated minimum support prices from farmers as during the current kharif marketing season (KMS) 2020-21 which commenced early this month. According to a Press Information Bureau note, total procurement of paddy across all states in India increased by 48 per cent from 17.7 […]

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India to utilise excess sugarcane output for ethanol; OMCs given a target for 10% ethanol-blended petrol by 2022

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Among the various measures to improve viability of sugar industry, the government of India has decided to increase production of ethanol. Oil Marketing Companies (OMCs) have been further instructed to increase the usage of ethanol blending with petrol. A meeting co-chaired by Secretary (Food & Public Distribution), Secretary, Ministry of petroleum and natural gas (MoPNG) […]

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India government to go ahead with stake sale in Bharat Petroleum Corp as per schedule

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The government of India has decided to go ahead with the privatisation of Bharat Petroleum Corporation (BPCL) in a time-bound manner. There were speculations that the deadline for submitting the expression of interest (EOI) might be extended further from the current date of July 31. However, Business Standard reports indicate that the government wanted to complete the stake […]

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Pandemic may uplift India’s cash-strapped state-run food procurement agencies

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While the global pandemic has devastated many businesses, it may help usher in the turnaround of a vital section of the Indian food industry — state-run food procurement agencies. India, one of the world’s largest producer of wheat and rice, relies on state-run procurement agencies such as the behemoth Food Corporation of India (FCI) to collect […]

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