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MUMBAI: The power ministry has proposed a slew of amendments to the Electricity Act, 2003, in a bid to remove anomalies in its implementation. The ministry has proposed amendments to Section 11 to curb its alleged misuse by state governments and prohibit the sale of surplus power from generating...
NEW DELHI: Reliance Industries Ltd (RIL) and the government are set for a legal showdown, as the petroleum ministry today disallowed the company’s $1.2-billion cost recovery from its investment in the KG-D6 field. The country’s largest company has already taken the government to the Supreme Court over its failure...
NEW DELHI: The Left Front has started mobilising the support of non-NDA and non-UPA parties to garner support against the Congress-led UPA government’s move to push its economic reforms agenda with three much-delayed financial sector legislations. The Left Front will reach out to regional parties, including AIADMK, Samajwadi Party,...
NEW DELHI: After seeking 400 days to carry out spectrum auctions, the telecom department (DoT) has made a U-turn and said it can complete the sale process well within the August 31 deadline given by the Supreme Court. The DoT has sent a fresh auction timetable for approval to...
NEW DELHI: The finance ministry may defer the implementation of the controversial General Anti Avoidance Rule (GAAR) by a year, as investors have demanded more time for compliance. “There is a strong demand from investors to defer GAAR. We are trying to address their concerns,” said a finance ministry...
By Nantoo Banerjee It is a situation India wished it were never got itself in. The retroactive tax liability provisions in the country’s 2012-13 annual budget have already caused enough universal embarrassment to the government. The country’s proposed tax laws with regard to mergers and acquisitions (M&A) have been...
From L.S. Herdenia BHOPAL: Can the government of Madhya Pradesh, whose annual budget is Rs 80,000 crores and which is in the debt of Rs 85,000 crore, fulfill all the commitments made by it to the people of the State? Some time back, the Chief Minister Shivraj Singh Chauhan...
By Narendra Sharma NEW DELHI: The labour movement in India is at a crossroads. This became obvious when 11 CTUOs met on April 26 in the INTUC Delhi office to plan their future course of action. This was the first joint meeting of all the CTUOs after the February...
NEW DELHI: Days ahead of the 60-day deadline for approving its gas sale price expired, the Oil Ministry has sought some clarifications from Reliance Industries on the gas it plans to produce from coal seams (CBM), thereby pushing back the approval clock by another two months. The Ministry had...
NEW DELHI: The power ministry will allow producers to raise tariffs if fuel costs of new projects rise, and will not oppose a hike in domestic gas prices. The move would hurt consumers but rescue large private investments that are threatened by uncertainty over fuel and tariffs. Linking tariffs...