However, the board of approval in the commerce ministry asked the DLF to return all the tax sops it had taken from the Centre before its SEZs in Gujarat, West Bengal, Orissa and Haryana could be denotified. The BoA, headed by commerce secretary G K Pillai, also allowed more time to the K Raheja group to build its tax-free zones in Goa, Hyderabad and Navi Mumbai, an official said.
Gopal Krishna Gandhi played a crucial role in trying to resolve the stalemate at Singur where Tata Motors suspended work on the Nano small car project for almost a month. The stand off between the ruling Left Front and the Opposition Trinamool Congress over acquisition of land for the project had dampened the prospects of Nano-roll out from the state as had been planned earlier.
Trinamool Congress Legislature party on Monday formally nominated party leaders Biman Banerjee and Sonali Guha for the posts of speaker and deputy speaker respectively in West Bengal assembly.
He was confident of collecting tax revenue of Rs 31,000 crore.
West Bengal, the chief minister said, cannot be compared with other states and despite all hurdles it had an increased revenue generation over the last three years from Rs 21,000 crore (Rs 210 billion) to Rs 40,000 crore (Rs 400 billion).
Mother plant apart, the project involved 54 ancillary units, which meant enormous employment potential. People would have had the experience of seeing a modern industry.
After dithering for months, if not years, the government suddenly unleashed a barrage of reforms.
Efforts are on to convince West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee to support FDI in multi-brand retail which is coming up for consideration of the Union Cabinet on Thursday evening.
In a telephonic conversation, Mitra explains to Namrata Acharya how the state is reeling under a huge debt, a 'legacy' of the Left government.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Here's a recap of events that occurred in India in the past 24 hours.
Kumar, a well-known economist and the author of several books, would succeed Amit Mitra, who has become the Finance Minister of West Bengal.
The total investment - by Tata Motors and its vendors - in the Rs 1 lakh car project is Rs 3,700 crore (Rs 37 billion). The West Bengal government on Thursday disclosed that the investment in the vendor park would be around Rs 2,200 crore (Rs 22 billion).
Whenever people think of India, they will think of Ficci as a place they could go to facilitate investment, says Rajiv Kumar.
A Chinese national apprehended while trying to cross the India-Bangladesh border illegally has told the investigators that he and his associates have smuggled as many as 1,300 Indian SIM cards into their country by hiding them in undergarments, the BSF said.
India has secured approval of the United States Department of Agriculture (USDA) for the export of domestic mangoes to America in the new season, the commerce ministry said on Tuesday. The export of Indian mangoes has been restricted by the US since 2020 as the USDA inspectors were unable to visit India for inspection of irradiation facilities due to restrictions imposed on international travel because of the COVID-19 pandemic. On November 23, 2021, the Department of Agriculture and Farmers Welfare and the USDA signed a framework agreement for implementing the "2 Vs 2" agri-market access issues.
The Board of approval in the commerce ministry took these decisions along with approving two fresh proposals of Shyam Steel Industries and Limitless Properties in West Bengal and Tamil Nadu, respectively. The BoA also ratified extension of time to 23 developers, including Satyam Computer Services, for implementing tax-free enclaves in the wake of economic slowdown.
With the commissioning of the 2,000 MW Tala hydel power project scheduled for July 2006, Bhutan is all set to start exporting 2,500 MW power to India by the year end, Bhutan ambassador to India Lyonpo Dago Tshering said on Monday.
The board of approval, headed by commerce secretary G K Pillai, will also consider requests from realty major DLF for de-notification of its IT-ITeS SEZs in Gujarat, Haryana, West Bengal and Orissa. Larsen and Toubro has proposed to set up an IT SEZ in Mumbai, while Gulf Oil Corporation has moved application for a similar tax-free zone in Bangalore.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
The cover provided under the Centre's Pradhan Mantri Suraksha Bima Yojana, which is a vital safety net for them, ended almost a year back on May 31, 2020. Ever since, there hasn't been much progress on the higher insurance coverage of Rs 5 lakh promised under the newly launched Pradhan Mantri Matsya Sampada Yojana, reports Sanjeeb Mukherjee.
The Special Economic Zone concept represents another form of "Zamindari" system, Kali Ghosh, general secretary, CITU West Bengal Committee, said on Monday.
The state received robust investment announcements worth Rs 2,43,489 crore in calendar 2007. In calendar 2008, investments fell 63 per cent, to Rs 90,095 crore (Rs 900.95 billion). The general slowdown in economic growth, however, may also have played a part in Bengal's declining rank, given that many of its major investments were in such sectors as steel, real estate and power, all of which are current casualties of slowing demand.
Sources in various parties suggest that two lakh votes of the Patel community, locally known as OBC kurmi, for which mother-daughter led Apna Dal (S) and Apna Dal (K) are competing and over one lakh of OBC Rajbhars would be crucial in deciding the outcome of the assembly seats in Varanasi.
Mamata woos industry with boat ride to Gangasagar, Sundarbans
Commerce Secretary Gopal Krishna Pillai speaks to Business Standard on the impact the Tata Motors decision to pull out of Singur will have on the investment climate in the state.
'Investors abroad will think if a big company in India faces such hurdles, what will happen to us. But this is an isolated case. I was in West Bengal a month back and there is a whole series of investments lined up. But investors waiting in the sidelines with their plans to come to India may have second thoughts because of this incident,' says Commerce Secretary Gopal Krishna Pillai.
Agri export zones need to be replaced by a structure capable of pursuing a more pro-active marketing strategy and social organisation to increase agricultural exports and deliver benefits back to farmers.
With regards to continuing the anti-dumping duty on import of raw silk from China, the Commerce Ministry has ordered a sunset review investigation by the Central Silk Board in the matter. In face of the pending investigation, the duty has been extended for another year up to January 1, 2009. The silk growers in Andhra Pradesh, Karnataka, Tamil Nadu, West Bengal and Jammu and Kashmir are concerned that this exercise may lead to opening up the silk imports from China.
Nandigram may have turned into a war zone once more but the industry feels that the issue is national. Despite the current crisis being a turf war between the political parties, the genesis of the issue is land acquisition for a chemical hub project. Harsh K Jha, president, Indian Chamber of Commerce and MD of Tata Metaliks, said Nandigram per se may be a state issue but it has affected the investment climate and land acquisition across the country.
IOC's entry into Haldia Petrochemcials Limited was virtually approved of, with the two main promoters -- West Bengal government and The Chatterjee Group -- agreeing to IOC's proposal of management control in the company.
It's not every day that you will hear about Mamta Banerjee getting married to Socialism, but that's what happened in Salem on Sunday.
India's fourth woman GM dreams of commanding the respect of the entire chess fraternity like Judith Polgar.
The first meeting with the owners and bankers was held in Kolkata on Saturday for the closed gardens in West Bengal and Assam. The rehabilitation package was approved by the commerce ministry recently.
Chairman Emeritus of Tata Sons Ratan Tata said shifting the Nano car plant from Singur in West Bengal was a prudent move in hindsight but gave the group a high negative cost.
Talks are also on with YES Bank for three other zones, in which the ministry hopes to attract private investment.
The central leadership of the CPI(M) and chief ministers of the Left-ruled states of Kerala and West Bengal have discordant views on the question of a cap on the number of Special Economic Zones
Air India on Monday announced a direct flight to London from Kolkata and another one to Bangkok and Singapore -- both taking off this year.
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