Archive for February, 2013

Finance Minister Proposes Special Focus on Green Revolution in 2013-14; Outlay Increased to Boost Agriculture Production

Comments Off | 02-28-2013

An allocation of Rs. 1000 crore has been proposed in the budget 2013-14 to continue support to the new green revolution in Eastern States like Assam, Bihar, Chhattisgarh and West Bengal to increase the rice production. An outlay of Rs. 500 crore is proposed for starting a programme of crop diversification that would promote technological

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Rs. 10,000 Crore Proposed for Incremental Cost of National Food Security

Comments Off | 02-28-2013

The Finance Minister Sh. P. Chidambaram has set apart an amount of Rs. 10,000 crore, over and above the normal provision for food subsidy, towards the incremental cost that is likely under the National Food Security Act. Presenting the budget of 2013-14 in Lok Sabha today, the Finance Minister hoped that the National Food Security

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Rs. 27,049 Crore Outlay Proposed for the Ministry of Agriculture

Comments Off | 02-28-2013

The Finance Minister Shri P. Chidambaram has proposed an outlay of Rs. 27,049 crore for the Ministry of Agriculture in the Union Budget 2013-14. The outlay is 22 per cent over the Revised Estimates of the year 2012-13. Out of this, Rs. 3415 crore will be provided for agricultural research.
From the overall allocation of Rs.

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A PPP Policy Framework with Coal India to be Devised to Increase Coal Production

Comments Off | 02-28-2013

The Finance Minister, P Chidambaram in his Budget speech in Lok Sasbha today said that In the medium to long term, we must reduce our dependence on imported coal. One of the ways forward is to devise a PPP policy framework, with coal India Limited as one of the partners, in order to increase the

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Direct and Indirect Tax Proposals to Yield Rs. 18,000 Crore

Comments Off | 02-28-2013

The General Budget reiterates that clarity in tax laws, a stable tax regime, a non-adversarial tax administration, a fair mechanism for dispute resolution and independent judiciary for greater assurance is underlying theme of tax proposals. It is proposed to set up the Tax Administration Reforms Commission.
As regards Direct Taxes, a relief of Rs. 2000 for

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Statement of Raksha Mantri on the Union Budget 2013-2014

Comments Off | 02-28-2013

Following is the statement of Defence Minister Shri AK Antony on the just presented Union Budget 2013-2014:
“Taking into account the difficult economic situation both at home and abroad, the Finance Minister has done a good job. The measures that he has outlined for the rejuvenation of the economy while ensuring inclusive growth are indeed commendable.

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Index of Eight Core Industries (Base: 2004-05=100), January 2013

Comments Off | 02-28-2013

The summarized Index of Eight Core Industries with 2004-05 base is given at the Annexure.
The Eight core industries have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP).  The combined Index was 158.7 in January 2013 with a growth rate of 3.9% compared to their 2.2% growth in January 2012. 

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Launch of Government to Business (G2B) Portal

Comments Off | 02-27-2013

As a part of Government`s initiative to improve the business environment and the ease of doing business in the country, the Department of Industrial Policy & Promotion, Ministry of Commerce & Industry launched the eBiz portal on 28.01.2013 comprising Licenses and Permits Services component that will allow business users to obtain a customized list of

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Countervailing Duty by US on Export of Shrimp

Comments Off | 02-27-2013

A legal petition to USA has been filed on 28.12.2012 by Coalition of Gulf Shrimp Industries, for imposition of countervailing duty (CVD) on import of shrimps to USA by seven countries viz. China, Thailand, Vietnam, Ecuador, Indonesia, Malaysia and India. Coalition of Gulf Shrimp Industries claims that subsidies provided by Government of India to the

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Increase in Import of Oil and Gold

Comments Off | 02-27-2013

Details of value of import of Petroleum, Crude & Products and Gold during the last three years are given below:

Value in US $ Billions

Commodity
2009-10
2010-11
2011-12 (P)
2012-13 (Apr-Dec)(P)

Petroleum, Crude & Products
87
106
155
125

Gold
29
41
56
38

Source: DGCI&S                                   (P)    Provisional

This information was given by the Minister of State for Commerce & Industry Dr. D. Purandeswari in written reply to

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