Apr 28, 2022 | Business
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today has approved the proposal of the Department of Fertilizers for Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for Kharif Season – 2022 (from 01.04.2022 to 30.09.2022).
Financial Implications:
Subsidy approved by Cabinet for the NBS Kharif-2022 (from 01.04.2022 to 30.09.2022) will be Rs. 60,939.23 Crores including support for indigenous fertilizer (SSP) through freight subsidy and additional support for indigenous manufacturing and imports of DAP.
Benefits:
The increase in the international prices of Di-ammonium phosphate (DAP) and its raw materials have been primarily absorbed by the Union Government. The Union Government has decided to provide subsidy of Rs. 2501 per bag on DAP instead of existing subsidy of Rs.1650 per bag which is a 50% increase over the last year’s subsidy rates. The increase in the prices of DAP & its raw material is in the range of approx. 80%. It will help farmers to receive notified P&K fertilizers on subsidized, affordable and reasonable rates and support the agriculture sector.
Implementation Strategy and targets:
The subsidy on P&K fertilizers will be provided based on the NBS rates for Kharif season -2022 (applicable from 01.04.2022 to 30.09.2022) to ensure smooth availability of these fertilizers to the farmers at affordable prices.
Background:
Government is making available fertilizers, namely Urea and 25 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/ importers. The subsidy on P&K fertilizers is being governed by NBS Scheme w.e.f 01.04.2010. In accordance with its farmer friendly approach, the Govt. is committed to ensure the availability of P&K fertilizers to the farmers at affordable prices. In view of steep increase in the international prices of fertilizers & inputs i.e. Urea, DAP, MOP and Sulphur, Government has decided to absorb the increased prices by increasing subsidy on P&K fertilizers including DAP. The subsidy would be released to fertilizer companies as per approved rates so that they can make available fertilizers to farmers at an affordable price than it would have been otherwise.
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(Release ID: 1820522)
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Apr 28, 2022 | Business
The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi, today has approved the investment of Rs.4526.12 crore for 540 Megawatt (MW) Kwar Hydro Electric Project located on river Chenab, in Kishtwar district of Union Territory of Jammy and Kashmir. The project will be implemented by M/s. Chenab Valley Power Projects Private Limited (M/s. CVPPL) a joint venture company between NHPC and JKSPDC with equity contribution of 51% and 49% respectively on 27.04.2022.
The project shall generate 1975.54 million units in a 90% dependable year.
Government of India is extending grant of Rs.69.80 crore towards cost of Enabling Infrastructure and also supporting the Union Territory of Jammu & Kashmir by providing grant of Rs.655.08 crore for Equity contribution of JKSPDC (49%) in M/s. CVPPPL. NHPC shall invest its equity (51%) of Rs.681.82 crore from its internal resources. The Kwar Hydro Electric Project shall be commissioned with a span of 54 months. The Power generated from the Project will help in balancing of Grid and will improve the power supply position.
Government of UT of J&K to make the Project viable, extending exemption form levy of Water Usage Charges for 10 years after commissioning of the project, reimbursement of State’s share of GST (i.e. SGST) and waiver of free power @2% per year in a decremental manner, i.e. the free power to the Union Territory of Jammu & Kashmir would be 2% in the 1st year after commissioning of Project and thereafter shall increase @2% per year and shall be 12% from 6th year onwards.
The construction activities of the Project will result in direct and indirect employment to around 2500 persons and will contribute in overall socio-economic development of the Union Territory of J&K. Further, UT of J&K will be benefitted with free power of around Rs.4,548.59 crore and Rs.4,941.46 crore with Water Usage Charges from Kwar Hydro Electric Project, during project life cycle of 40 years.
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(Release ID: 1820529)
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Mar 30, 2022 | Business
The Cabinet Committee on Security (CCS) met under the Chairmanship of Prime Minister Shri Narendra Modi on 30 March 2022 in New Delhi. The CCS has approved procurement of 15 Light Combat Helicopter (LCH) Limited Series Production at the cost of Rs. 3,887 Cr along with Infrastructure sanctions worth Rs. 377 Cr.
Light Combat Helicopter Limited Series Production (LSP) is an indigenously designed, developed and manufactured state of the art modern combat helicopter containing approx. 45% indigenous content by value which will progressively increase to more than 55% for SP Version.
This helicopter is equipped with requisite agility, maneuverability, extended range, high altitude performance and around-the-clock, all-weather combat capability to perform roles of Combat Search and Rescue (CSAR), Destruction of Enemy Air Defence (DEAD), Counter Insurgency (CI) operations, against slow moving aircraft and Remotely Piloted Aircraft (RPAs), high altitude bunker busting operations, Counter Insurgency operations in jungle and urban environments and support to ground forces and would be a potent platform to meet the operational requirements of Indian Air Force & Indian Army.
State of the art technologies and systems compatible with stealth features such as reduced Visual, Aural, Radar and IR signatures and crashworthiness features for better survivability have been integrated in LCH for deployment in combat roles catering to emerging needs for next 3 to 4 decades. Several key aviation technologies like Glass Cockpit and composite airframe structure have been indigenised. The future Series Production version will consist of further modern & indigenous systems.
Under the Atmanirbhar Bharat Abhiyaan, India is continuously growing in its capability to indigenously design, develop and manufacture advanced cutting edge technologies and systems in the Defence Sector. The manufacturing of LCH by HAL will give a further push to Atmanirbhar Bharat initiative and boost indigenisation of defence production and the defence industry in the country. Production of LCH will reduce import dependence for Combat helicopters in the country. Light Combat Helicopters are already in the import embargo list. With its versatile features built in for combat missions, LCH has export capability.
ABB/Nampi
(Release ID: 1811565)
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Mar 23, 2022 | Business
The Competition Commission of India (CCI) approves acquisition of the stake in Busybees Logistics by TPG.
The proposed combination envisages acquisition of ~7% shareholding of Busybees Logistics Solutions Private Limited (Xpressbees) by TPG Growth V SF Markets Pte. Ltd. (TPG SF).
TPG SF is majority owned and controlled by certain affiliates of TPG, Inc. TPG, Inc. is the ultimate holding company of the TPG group. TPG Group is an investment firm and has assets under management in sectors such as consumer, healthcare, technology, financial services, travel, media and real-estate.
Xpressbees is engaged in the business of providing logistics and delivery solution services including express parcel shipping services, B2B part truck load and full truck load freight services, cross border logistics and third-party (3P) logistics / contract logistics.
Detailed order of the CCI will follow.
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RM/KMN
(Release ID: 1808802)
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Feb 26, 2022 | Business
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi has approved the national roll-out of Central Sector Scheme, Ayushman Bharat Digital Mission (ABDM) of Ministry of Health and Family Welfare, Government of India, with a budget of Rs.1,600 crore for five years. The National Health Authority (NHA) will be the implementing agency of Ayushman Bharat Digital Mission (ABDM).
Digital health solutions across healthcare ecosystem have proven to be of immense benefit over the years, with CoWIN, Arogya Setu and eSanjeevani further demonstrating the role technology can play in enabling access to healthcare. However, there is a need to integrate such solutions for continuum of care, and effective utilization of resources.
Based on the foundations laid down in the form of Jan Dhan, Aadhaar and Mobile (JAM) trinity and other digital initiatives of the government, Ayushman Bharat Digital Mission (ABDM) is creating a seamless online platform through the provision of a wide-range of data, information and infrastructure services, duly leveraging open, interoperable, standards-based digital systems while ensuring the security, confidentiality and privacy of health-related personal information.
Under the ABDM, citizens will be able to create their ABHA (Ayushman Bharat Health Account) numbers, to which their digital health records can be linked. This will enable creation of longitudinal health records for individuals across various healthcare providers, and improve clinical decision making by healthcare providers. The mission will improve equitable access to quality healthcare by encouraging use of technologies such as telemedicine and enabling national portability of health services.
The pilot of ABDM was completed in the six Union Territories of Ladakh, Chandigarh, Dadra & Nagar Haveli and Daman & Diu, Puducherry, Andaman and Nicobar Islands and Lakshadweep with successful demonstration of technology platform developed by the NHA. During the pilot, digital sandbox was created in which more than 774 partner solutions are undergoing integration. As on 24th February 2022, 17,33,69,087 Ayushman Bharat Health Accounts have been created and 10,114 doctors and 17,319 health facilities have been registered in ABDM.
Not only will ABDM facilitate evidence-based decision making for effective public health interventions, but it will also catalyse innovation and generate employment across the healthcare ecosystem.
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(Release ID: 1801323)
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