While the government expects the new urea policy to bring more investment, the fertiliser industry is less than enthused. New capacities to make urea, industry representatives say, will come up only if adequate fuel and timely payment of subsidy dues is ensured.
Announcing this in New Delhi, Civil Aviation Minister Praful Patel said trial runs on the new third runway of IGI Airport would begin in ten days from now. Once operational, it would go a long way to ease the air traffic congestion over the Delhi airspace. The two airports, as per the recommendations of the respective state governments, would be developed by the state-owned AAI and not privatised.
The introduction of 10 per cent mandatory blending of ethanol with petrol is unlikely to happen from this October, as decided by the Cabinet Committee on Economic Affairs in October 2007.
The government is likely to empower ONGC Videsh, the foreign arm of state-run Oil and Natural Gas Corporation, to make investments of up to Rs 300 crore (Rs 3 billion) in oil and gas properties abroad without going to the Cabinet for approval.
First things first: For those wondering if they need to reapply, the answer is no.
A meeting of the CCEA, chaired by Prime Minister Manmohan Singh, approved 'splitting of the production sharing contract for Block AA-ON/7 in two parts, to consider separate exploration period of Nagaland part of the block,' an official statement said.
The Cabinet Committee on Economic Affairs may consider slashing customs duty on petrol and diesel from 15 per cent to 10 per cent.
The decision to increase the minimum support price of various grades of paddy and different pulses was taken at a meeting of the Cabinet Committee on Economic Affairs. The support price for common paddy will now stand at Rs 950 a quintal, while the A-grade variety would get Rs 980 per quintal -- an increase of Rs 100 a quintal for both.
The Union government has reconstituted the Cabinet Committee on Economic Affairs with Prime Minister Manmohan Singh as its chairman.
The Cabinet Committee on Economic Affairs is likely to approve the 20 per cent follow-on offer of Shipping Corporation of India next week, which may fetch close to Rs 1,400 crore (Rs 14 billion).
The government on Monday raised the price of ethanol for blending with fuel at Rs 27 per litre from existing Rs 21.50 per litre.
The Cabinet Committee on Economic Affairs gave its nod to the 20 per cent follow-on offer by PowerGrid, an official statement said.
The government has approved livestock insurance scheme for implementation in 100 districts on pilot basis during 2005-06 and 2006-07 while its extension in eleventh five-year plan depends on the performance in the two years.
The government on Thursday said decision with regard to divestment in some of the public sector companies has been taken and would be announced at an appropriate time.
Central government employees and pensioners will get an additional 6 per cent dearness allowance from next month, putting a burden of over Rs 6,000 crore (Rs 60 billion) on the exchequer.
Retail, telecom, media and a host of sectors in which foreign direct investment is restricted stand to gain from changes in FDI policy that the Cabinet Committee on Economic Affairs cleared on Wednesday linking approvals to the concept of control for the first time.
The oil ministry is in fact of the view that the government should bear the entire burden of the revenue losses incurred by the oil marketing companies, after the increase in prices is effected.
According to sources, the Department of Industrial Policy and Promotion and Ministry of IT have supported the reserve price of Rs 2,020 crore (Rs 20.2 billion) as was originally recommended by DoT. Last week, the finance ministry had asked the DoT to double the reserve price for pan-India 3G spectrum.
Pepsico India Holding need not divest 49 per cent equity in bottling firms to Indian companies, with the government today exempting it from the obligation following change in FDI rules for the food processing sector.
A meeting of the Cabinet Committee on Economic Affairs was specially convened this morning to consider OVL's Imperial bid, as Tuesday is the last date for making the offer to the target company's shareholders. Prime Minister Manmohan Singh chaired the meeting that had just one agenda and lasted one-and-half hours, but no official word was available.
Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
The Cabinet Committee on Economic Affairs will discuss the proposal to lift the ban on state-owned companies from investing in mutual funds in its weekly meeting on Thursday.
The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh allowed ONGC Videsh Ltd, the overseas investment arm of Oil and Natural Gas Corporation, to invest $167.84 million in taking 8.35 per cent stake in the pipeline.
Cabinet Committee on Economic Affairs would on Thursday discuss the proposals of the petroleum ministry on the states' claim to share profit on petroleum under production sharing contract signed under New Exploration Licence Policy.\n\n\n\n
The government has enhanced the emoluments of the President, the Vice President and governors to Rs 1.5 lakh, Rs 1.25 lakh and Rs 1.10 lakh respectively. The Cabinet secretary and defence chiefs too have been given substantial increments.
The government on Thursday gave its nod to a foreign direct investment of $150 million (Rs 675 crore) in Maran family-run Sun TV's ambitious direct to home service project.
The government on Friday said it is expecting to raise about Rs 8,100 crore (Rs 81 billion) from the five per cent stake sale in power PSU NTPC through a Follow-on Public Offer (FPO).
The government will sign contracts on Tuesday for exploitation of gas trapped below coal seams in nine areas with three consortia, including one led by Anil Ambani Group companies.\n
Apart from this, the Cabinet Committee on Economic Affairs also gave its approval for starting work on the fifth phase of the National Highway Development Programme.
The government on Wednesday cleared the setting up of an Investment Commission to woo foreign as well as domestic investors for major projects in the country.
"ITIRs were conceptualised keeping in view the need to boost the growth of both IT/IT enabled services (ITeS) and Electronic Hardware Manufacturing (EHM) units," an official statement said. These regions would become major magnets for investment, creating employment opportunities and economic growth in the area while reducing the pressure on existing urban centres by enabling growth of new townships, it added. The ITIRs will be much larger than IT SEZs.
In the face of the crisis in the Global Trust Bank, government on Monday committed to 'protect' the interests of depositors, with Finance Minister P Chidambaram saying deposits in the bank were 'reasonably safe.'
The Cabinet Committee on Economic Affairs on Thursday approved ONGC Videsh Ltd's proposal to lay a $200 million petroleum product pipeline in Sudan.
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