NEW DELHI: It could be a second innings for special economic zones, especially those held up for years, with the commerce department proposing fresh tax concessions and a cut in the minimum area requirement to a quarter of the present specifications. The department has suggested that any zone that is not built around the identified 40 million-plus cities and state capitals would be eligible for duty benefits on capital investment for...
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India has the scope to export 2-2.5 mn bales of cotton: Agriculture ministry-Sanjeeb Mukherjee
The agriculture ministry has said the country still has the scope to export another 2-2.5 million bales of cotton if fresh registrations for export are allowed in the coming weeks. The ministry, which has been strongly opposed to the current cap on exports at 12.5 million bales, is of the opinion that if exports are re-opened at this juncture, only 2-2.5 million bales can be exported. The remaining cotton, from the...
More »EGoM to discuss issues raised by Pawar
-The Hindu The Empowered Group of Ministers (EGoM) on Food will meet soon following a letter by Union Agriculture Minister Sharad Pawar to Prime Minister Manmohan Singh on curbs over milk, cotton and sugar exports. The EgoM is headed by Union Finance Minister Pranab Mukherjee. Mr. Pawar shot off the letter to the Prime Minister after the EGoM disallowed export of cotton beyond 13 million bales for the current marketing year the...
More »Offset ban on cotton export by raising floor price by 10%: CACP-Nidhi Nath Srinivas
The government should immediately announce a 10% increase in the floor price of cotton and rice to protect farmer incomes if it imposes a ban on the export of these commodities, India's two most economically significant cash crops, according to the Commission of Agricultural Costs and Prices (CACP), a body which advises the government on the pricing policy for major farm produce. "Any ban on export is an implicit tax on...
More »Green bench rejects Posco’s Orissa project-Jacob P Koshy & Ruchira Singh
South Korean steel maker Posco may have to start its bid to enter India from scratch, letting six years of preparatory work go to waste. A top tribunal has cancelled environmental approvals given by the government last year for the company’s $12 billion (around Rs61,440 crore today) steel plant in Orissa and ordered that the environment ministry review the entire project afresh. The tribunal said environmental clearances have been accorded in...
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