Finance Minister allocates Rs 22,000 crore for power, renewable energy sector, discom reforms in Budget 2020

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In her Union Budget 2020-21 speech, finance minister Nirmala Sitharaman announced the government allocating Rs 22,000 crore for energy sector. The union budget 2020 has proposed that the National gas grid will be expanded from 16,200 km to 27,000 km. “Further measures to reforms Discoms (distribution companies) would be taken. I propose to provide Rs […]

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Secondary metal producers seek duty cut on imported scrap in the ensuing Budget FY 2020-21

Secondary metal producers have asked the government to cut customs duty on imported metallic scrap and curb cheap imports, arguing they provide jobs but need a level-playing field. The industry faces an inverse duty structure: It pays 2.5 per cent customs duty on imported metallic scrap of aluminium and copper; and 5 per cent on zinc and lead. However, […]

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Structural reforms to make India a $5 trillion economy, says finance minister in 2019-20 budget

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Announcing the union budget 2019-20, India’s Finance Minister Nirmala Sitharaman said India needs to make structural reforms to create a $5 trillion economy in the next few years. Presenting the first Budget of the second term of Prime Minister Narendra Modi’s government, she said the Indian economy that stood at $1.85 trillion five years back […]

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Vedanta Resources chairman urges government of India to privatise mining firms to cut down $400 billion of imports

Anil Agarwal, the billionaire metals tycoon, has told Prime Minister Narendra Modi that the Centre should privatise five mining firms including NMDC to save some of the $400 billion that India spends annually on imports. The Vedanta Resources chairman, who was one of the three industrialists invited for a pre-Budget meeting that Modi had with […]

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India to link 22,000 mandis with e-NAM by 2022

The government of India is planning to link 22,000 mandis across the country with the National Agriculture Market (e-NAM), an online trading platform for agricultural commodities by 2021-22, Union Agriculture Minister, Radha Mohan Singh said. The e-NAM is a pan-India electronic trading portal, a network of the existing Agricultural Produce Market Committee (APMC) mandis to […]

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