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Hemant Kanoria, CMD, Srei Infrastructure Finance The Finance minister has presented a Budget aimed at sprucing up the country’s infrastructure and readying it for higher growth. Besides enhancing sectoral allocations, the doubling of the amount of tax free bonds to be raised for infrastructure in FY13 will go a...
Kameshwara Rao, Leader – Energy, Utilities & Mining, PwCIndia The budget proposals for the power sector offer a very intriguing mix of initiatives, reflecting a fair appreciation of the challenges facing the industry, and some quick-fix attempts to resuscitate it, while falling short of the fundamental changes necessary to...
KOLKATA: Nuclear Power Corporation of India Limited ( NPCIL ) has formed a new company in joint venture with National Aluminium Company Limited ( NALCO). The new JV company , namely N PCIL-NALCO Power Company Limited was incorporated on March 2, 2012. The first meeting of the board of...
CHENNAI: Save for a few sops, the sunrise renewable energy sector had little to cheer from Finance Minister Pranab Mukherjee’s Budget. One of those sops was an exemption from special countervailing duty that was made available for plant and equipment used in solar thermal projects The budget also proposed...
Finance minister today announced during the presentation of union budget 2012 that concessions and exemptions will be provided for energy saving devices, plant and equipments needed for solar-thermal project during their setting up. This hasn’t gone too well with the domestic manufacturers who were expecting the same for solar...
NEW DELHI: The budget proposal to scrap customs duty on imported coal would bring down electricity generation costs by about 12 paise per unit, experts said. Faced with acute domestic coal shortage, many power producers are banking on imported fuel to meet their needs. The scarcity is estimated to...
NEW DELHI: Government scrapped taxes on coal imported by power companies on Friday and although the move makes overseas thermal coal more attractive it won’t be enough to boost purchases much beyond the 70-80 million tonnes already forecast by analysts for 2012/13. Finance Minister Pranab Mukherjee announced in his...
KOLKATA: Coal India officials are unhappy with the Budget announcements for the coal sector as the proposed exemptions on mining will help the state-run miner save only about Rs 60-80 crore. The company imports equipment worth Rs 600-900 crore every year. However, Coal India has readied another expression of...
NEW DELHI: The government has hiked the cash subsidy it will pay to state-owned oil firms for selling fuel below cost in current fiscal to Rs 65,000 crore but has also hiked the cess upstream firms like ONGC pay on crude oil production to Rs 4,500 per tonne. “Crude...
While enhancing the provision for petroleum subsidy for the current year, Finance Minister Pranab Mukherjee has provided some relief for government-owned oil and gas companies. The last supplementary to the current year’s Budget is now expected to provide Rs 15,000-crore more towards petroleum subsidy. At a revised estimate of...