SIGN IN SUBSCRIBE

News Update

World Energy Congress 2024: IREDA CMD highlights need for Innovative Financing SolutionsVoter turnout surpasses 50% by 4 PM in Phase 2 pollsST - Amendment made to FA, 1994 on 14.05.2015 making service tax applicable retrospectively on chit-fund business is only prospective - Refund payable of tax paid between 01.07.2012 to 13.05.2015: HCXI tells Blinken - China, US ought to be partners, not rivalsST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HCCX - Issue involved is valuation of goods u/r 10A of CE Valuation Rules, 2000 - Appeal lies before Supreme Court: HCCus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HCCus - Penalty that could be imposed for smuggling 3.2 kg of gold was Rs.88.40 lakhs, being the value of gold, but what is imposed is Rs.10 lakhs - Penalty not at all disproportionate: HCCus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HCCus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HCI-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HCChina asks Blinken to select between cooperation or confrontationI-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITATHonda to set up USD 11 bn EV plant in CanadaImran Khan banned from flaying State InstitutionsI-T - Income from sale of flats cannot be computed in assessee's hands, where legal possession of flats had not been handed over to buyers in that particular AY: ITATPro-Palestine demonstration spreads across US universities; 100 arrestedI-T - Investment activities in venture capital which are not covered in negative list under Schedule III to SEBI Regulations, qualifies for deduction u/s 10(23FB): ITATNATO asks China to stop backing Russia if keen to forge close ties with WestNY top court quashes conviction of Harvey Weinstein in rape case
 
Cabinet approves Rs 5,281Cr investment in Ratle Hydropower Project in J&K

By TIOL News Service

NEW DELHI, JAN 20, 2021: THE Cabinet today has given its approval for the investment of Rs.5281.94 crore in the 850 MW Ratle Hydro Electric Project located on the Chenab river in the Kishtwar district of Jammu and Kashmir, despite threats from Pakistan.

The Cabinet chaired by Prime Minister Mr Narendra Modi has sanctioned the project despite Pakistan's objections that it would take the issue to the International Court and the World Bank, arguing that it violated the Indus Water Treaty.

A new Joint Venture Company (JVC) will be incorporated between the National Hydroelectric Power Corporation (NHPC) and the Jammu and Kashmir State Power Development Corporation Limited (JKSPDC) with equity contribution of 51 per cent and 49 per cent, respectively, said the Cabinet.

"Government of India is also supporting the union territory of Jammu and Kashmir by providing grant of Rs. 776.44 crore for equity contribution of JKSPDC in the JVC to be set up for construction of Ratle. NHPC shall invest its equity Rs.808.14 crore from its internal resources," said an official statement.

In a press conference in Jammu, Lieutenant Governor Mr Manoj Sinha said the project will be commissioned within five years and will create 4,000 jobs directly and indirectly, contributing to the overall socio-economic development of the territory.

The power generated from the project will help in providing balancing of grid and will improve the power supply position, said the Cabinet.

"Jammu and Kashmir will be benefitted by getting free power worth Rs. 5,289 crore and through levy of water usage charges worth Rs.9,581 crore from Ratle Hydro Electric Project, during the project life cycle of 40 years," it stated.

Then-Prime Minister Mr Manmohan Singh had laid the foundation stone of the Ratle project in 2013 with the project set to be completed by 2018, but it was stalled due to Pakistan's action. Once the project construction restarted in 2019, it once again ground to a halt due to the unilateral withdrawal by the developer.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST