News Update

Income tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Notorious history-sheeter Mukhtar Ansari succumbs to cardiac arrest in UP jailTraining Program for Cambodian civil servants commences at MussoorieNY imposes USD 15 congestion taxCBIC revises tariff value of edible oils, gold & silver45 killed as bus races into ravine in South AfricaCBIC directs all Customs offices to remain open on Saturday & SundayBankman-Fried jailed for 25 yrs in FTX scamI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesFederal Govt hands out USD 60 mn to rebuild collapsed bridge in BaltimoreI-T - Receipts of sale of scrap being part & parcel of activity and being proximate thereto would also be within ambit of gains derived from industrial undertaking for purpose of computing deduction u/s 80-IB: HCCanadian School Boards sue social media titans for 4 bn Canadian dollar in damagesFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
Pradhan launches PURVODAYA in steel sector


By TIOL News Service

NEW DELHI, JAN 12, 2020: THE Minister of Petroleum and Natural Gas & Steel, Mr Dharmendra Pradhan, yesterday launched PURVODAYA: Accelerated development of eastern India through integrated steel hub in Kolkata, West Bengal.

Mr Pradhan speaking on the occasion said, "Whether it is our freedom movement or social reform, eastern India has provided leadership to the nation. Eastern India is a land of infinite opportunities. Despite being endowed with natural resources, this region has lagged behind in socio-economic development as compared to some other parts of the country. Today, we start Purvodaya in steel sector, a new chapter which will script the rise of eastern India by accelerated development of steel sector through an integrated steel hub."

Speaking about Government's efforts to develop eastern India, he said, "Our Government under the leadership of Hon. Prime Minister Shri Narendra Modi has given unprecedented focus to the development of eastern India. About half of aspirational districts are in this region which is becoming hotspots of socio-economic development. Our Government has come up with a Rs. 102 lakh crore worth of National Infrastructure Pipeline. Whether it is pipelines, inland waterways, shipping, air or road, our Government is building infrastructure at an unprecedented pace. Eastern India holds special focus in our infrastructure development efforts."

About technology, Mr Pradhan said, "21st century is going to be the age of knowledge and technology. New technologies are reshaping the economy and society. Industry 4.0 driven by digitisation holds immense promise. Embrace of Industry 4.0 by manufacturing in steel sector will ensure eastern India benefits from the wave of Industrial Revolution 4.0."

Purvodaya in steel sector is aimed at driving accelerated development of Eastern India through establishment of integrated steel hub. Eastern states of India (Odisha, Jharkhand, Chhattisgarh, West Bengal) and Northern part of Andhra Pradesh collectively hold ~80% of the country's iron ore, ~100% of coking coal and significant portion of chromite, bauxite and dolomite reserves. There is presence of major ports such as Paradip, Haldia, Vizag, Kolkata etc., with >30% of India's major port capacity. In India's march towards a trillion economy, the 5 Eastern states can play a major role where steel sector can become the catalyst. This Eastern belt has the potential to add more than 75% of the country's incremental steel capacity envisioned by the National Steel Policy. It is expected that out of the 300 MT capacity by 2030-31, over 200 MT can come from this region alone, driven by Industry 4.0.

The proposed Integrated Steel Hub, encompassing Odisha, Jharkhand, Chhattisgarh, West Bengal and Northern Andhra Pradesh, would serve as a torchbearer for socio-economic growth of Eastern India. The objective of this hub would be to enable swift capacity addition and improve overall competitiveness of steel producers both in terms of cost and quality. The Integrated Steel Hub would focus on 3 key elements:

1. Capacity addition through easing the setup of Greenfield steel plants

2. Development of steel clusters near integrated steel plants as well as demand centres. 3. Transformation of logistics and utilities infrastructure which would change the socio-economic landscape in the East

Growth of steel industry through such a hub would lead to significant employment opportunities across the entire value chain and will play a significant role in overall socio-economic growth of Eastern India, thus reducing the disparity between the East and other regions of the country.


POST YOUR COMMENTS
   

AR not Afar by SK Rahman

TIOL Tube Latest

Shri Shailendra Kumar, Trustee, TIOL Trust, giving welcome speech at TIOL Awards 2023




Shri M C Joshi, Former Chairman, CBDT




Address by Shri Buggana Rajendranath, Hon'ble Finance Minister of Andhra Pradesh at TIOL Awards 2023