News Update

PLI scheme for electronics manufacturing sees incremental investment of Rs 8,390 CrG20 finance leaders agree to tax super-rich but forum not yet readyDPIIT promotes green logistics industry balancing economic growth and environmentIndia, US ink pact to stymie illegal trafficking of cultural propertyRailways expands tracks by 31,180 kmFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaGovt to enhance reach of Indian Digital Public InfrastructureFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaGovt provides incentives to small tea growersEU penalises 5 countries for infringing budget rulesI-T-Transaction involving transfer of unutilised shares cannot be deemed to be sale of shares so as to attract levy of Long Term Capital Gain u/s 112: ITATChina says Relations with Japan at critical stageST - Once the activity of appellant that is of forfeituring the amount of earnest money is not a declared service, question of retaining said money as consideration for rendering such service becomes absolutely redundant: CESTATEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesFM favours debt reduction but sans affecting economic growthKargil Victory Day: PM warns Pak against practising terrorismChina pumps in subsidies worth USD 41 bn into car sectorMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SC
 
Ministry of Defence inks contract with BHEL for Super Rapid Gun Mount & accessories for Indian Navy

By TIOL News Service

NEW DELHI, NOV 29, 2023: THE Ministry of Defence has signed a contract with M/s Bharat Heavy Electricals Limited (BHEL), Haridwar on 28th November, 2023, for procurement of 16 Upgraded Super Rapid Gun Mount (SRGM) along with associated equipment/ accessories for Indian Navy under Buy (Indian) category at a total cost of Rs.2956.89 Cr.

The upgraded SRGM, which will be manufactured by M/s BHEL at its Haridwar Plant, is a medium caliber anti-missile/anti aircraft point defence weapon system which provides a sustained rate of fire and high accuracy. The weapon system is capable of multiple engagements in multi-threat scenarios and has a proven record of very good performance against missiles and highly maneuverable fast attack crafts.

Upgraded SRGMs will be installed onboard Indian Navy's in-service and newly built ships by M/s Mazagaon Dock and Shipbuilders Ltd., Mumbai, and Garden Reach Shipbuilders & Engineers, Kolkata. The project will generate an employment of two and half lakh mandays over a period of five years and encourage active participation of various Indian industries including MSME, thus significantly contributing to the Government's efforts to achieve 'Atmanirbharta' in defence.


POST YOUR COMMENTS
   

TIOL Tube Latest

Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering



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