Maintenance of cost accounting records: project wise cost capture and reconciliation required for construction and real estate compliance.
Guidance prescribes that companies in construction and real estate maintain structured cost accounting records and periodic project wise cost statements in accordance with Generally Accepted Cost Accounting Principles and applicable Cost Accounting Standards. Costs must be recorded by defined cost objects (typically projects/sub projects), with allocation and absorption of materials, labour, direct expenses, utilities, repairs, overheads and finance charges; common plant costs are to be held in service cost centres and recovered by internal hire rates. Companies must reconcile cost accounts with financial accounts and file a board approved Compliance Report electronically in the prescribed format.

Policy recommendations tailored by OECD to support government reform design and practical implementation across economic, social and environmental domains.
Provides tailored policy recommendations based on comparative analysis to identify best practices and adapt them to national circumstances, with the explicit aim of helping governments design and implement reforms across economic, social and environmental domains.

Public sector dividend payment: government receives dividend following corporate profit and strategic expansion of seed production operations.
A public sector seed corporation declared a profit for 2011-12 and paid a dividend to the government, reflecting its role supplying seed under government schemes and via dealers. The corporation manages multiple farms, produces substantial seed and saplings, has invested in seed-quality infrastructure including modern processing plants and irrigation systems, and is diversifying into biomass utilization, warehousing, fishery, consultancy, and related agribusiness activities.

Wholesale price inflation driven by fuel and minerals, keeping annual inflation elevated and sectoral pressures persistent.
The official Wholesale Price Index for September 2012 rose month-on-month, producing an annual inflation rate of 7.81% and a fiscal-year build-up of 4.60%. Primary Articles edged up as Food Articles and Minerals moved higher while Non-Food Articles declined. Fuel & Power increased substantially driven by higher petroleum product and aviation turbine fuel prices. Manufactured Products showed a modest rise with mixed subgroup movements; the release details subgroup weights, monthly changes, build-up since March and year-on-year rates and includes a finalized revision for July 2012.

Dividend payment signals increased shareholder distribution following strengthened profitability at a public renewable energy finance institution.
The government-owned renewable energy finance institution presented a dividend cheque for the fiscal year, reflecting an increase over the prior year and premised on strengthened earnings, including an all time high Profit Before Tax and increased Profit After Tax. The distribution follows year-on-year growth in loan sanctions and disbursements and is framed within the institution's role in financing renewable energy, contributing to policy formulation and public sector shareholder relations.

Right to form cooperative societies urged to be secured, with state laws aligned to strengthen democratic and autonomous cooperatives.
States are urged to amend state cooperative societies legislation to align with the 2011 constitutional amendment so cooperatives operate as democratic, professional, autonomous and economically sound institutions; the amendment secures the right to form cooperative societies and allocates legislative competence to Parliament for multi state cooperatives and to State Legislatures for other cooperatives, accompanied by national policy, legislative measures, education and financial support to revitalise cooperative governance and credit structures.

Industrial production growth shows modest year-on-year rise with mixed sectoral and use-based performance in August period.
Quick release of the Index of Industrial Production for August 2012 (base 2004 05) reports the General Index at 165.7 with year on year increase and a small positive cumulative growth for April-August. Sectoral indices for Mining, Manufacturing and Electricity show mixed monthly and cumulative trends; use based classification shows growth in Basic and Consumer goods but contraction in Capital goods. Thirteen of twenty two two digit manufacturing groups recorded positive year on year growth; specific items and industry groups with high positive and negative growth are listed. July and May indices have been revised based on updated data.

Trade balance trend: deficit slightly narrowed as exports declined while imports rose, altering external trade dynamics.
India's exports in September 2012 declined in dollar terms while rising in rupee terms, yielding a lower cumulative export value for April-September 2012-13 versus the prior year; imports rose in September but cumulative imports fell in dollar terms yet grew in rupee terms. Crude oil imports increased both monthly and cumulatively, non oil imports declined for the month and cumulatively, and the April-September trade deficit was marginally lower than in the corresponding prior year period.

DBFOT toll concession for highway two laning approved, enabling private financing, operation, and reduced travel time.
Approval was granted for two laning with paved side shoulders of the Salasar-Haryana border section of National Highway NH 65 in Rajasthan under NHDP Phase IV on a Design, Build, Finance, Operate and Transfer (DBFOT) basis in BOT (Toll) mode, covering 154.141 km in Churu and Sikar districts, with the total project cost including a specified allocation for land acquisition, rehabilitation, resettlement and pre construction costs and aims to improve infrastructure, reduce travel time and cost, and increase local employment.

DBFOT Toll approval for highway four laning advances public private delivery, allocating funds for land acquisition and rehabilitation.
Approval was granted to implement four laning of the Rajsamand-Bhilwara section of NH 758 on a DBFOT BOT (Toll) basis, covering an 87.250 km stretch with an estimated total project cost that includes allocations for land acquisition, rehabilitation, resettlement and pre construction. The project aims to improve infrastructure, reduce travel time and cost for traffic, and provide local employment, and it is positioned within NHDP Phase IV's four laning ceiling and associated Viability Gap Funding framework.

Central-State cost-sharing maintained at previous ratio to prevent premature financial burden shift to states under the model schools scheme.
Continuation of the 75:25 cost-sharing between Central and State/UT Governments for 2012-13 has been approved for the State sector component of the model schools Scheme to avoid premature shifting of financial burden to States and to sustain implementation through State Implementing Societies using allocated scheme funds.

Fertilizer subsidy payment based on receipt and retailer acknowledgement tracked by mobile ICT system, with pilot visibility.
Payment of fertilizer subsidy is conditioned on receipt of fertilizers and retailer acknowledgement at the last point of sale, with acknowledgements recorded via the ICT-enabled Mobile Fertilizer Monitoring System (mFMS) and the Fertilizer Monitoring System (FMS); part of the subsidy will be paid on receipt of consignments in the district, and a pilot will deploy ICT visibility of sales using farmer identification such as Kisan Credit Card, Aadhaar number, and bank account details.

Retrospective tax on indirect transfers: recommend prospective application, 50% threshold, proportional taxation, and interest/penalty waivers.
The Committee recommends prospective application of the Finance Act, 2012 indirect transfer provisions because they widen the tax base; if applied retrospectively, tax demands should be limited to the taxpayer earning the capital gain, with interest and penalties waived. It prescribes definitions and tests: "share or interest" limited to ownership/control rights; "substantially" set at a 50% value threshold derived from Indian assets; a look through approach for "directly or indirectly"; FMV valuation at last balance sheet date with adjustments; proportional taxation of gains attributable to Indian assets; and specific exemptions/safe harbors for small holdings, listed companies, intra group restructurings and SEBI regulated FII investments.

Foreign direct investment in agriculture welcomed to boost infrastructure, reduce post-harvest losses and expand market access.
The Ministry aims to leverage high soil moisture to maximise rabi output and target average agricultural growth of 4% in the 12th Plan by consolidating gains and enhancing Gross Capital Formation. The Minister supports targeted Foreign Direct Investment for seed development, post-harvest infrastructure and multi-brand retail (subject to back-end facilities) to reduce post-harvest losses and improve prices, and launches a National Mission of Food Processing with capacity building through the deemed university-status NIFTEM.

Online issuance of Central Declaration Forms enables immediate requisition, download and printing through dealer TIN/password authentication.
An online facility now enables electronic issuance of Central Declaration Forms C, F and H via the Department of Trade and Taxes website. Registered dealers authenticate with their TIN and password, submit an online requisition and may immediately download and print the requested forms; the system is fully automated with no departmental human interface and is promoted for dealer use for the specified year.

Visa restrictions and post study work limits risk harming Indian student mobility and business operations abroad.
Concerns about UK immigration and student visa measures focused on caps for non EU economic migrants and limits on post study work visas affecting Indian companies' competitiveness and deterring Indian students; the revocation of London Metropolitan University's licence was raised as creating welfare and reputational issues for affected students, and UK officials assured efforts to accommodate valid students and remove impediments to people to people contact.

Sustainable urban development agreement creates an enabling platform for bilateral knowledge exchange and PPP participation.
An Administrative Agreement establishes a cooperative framework to promote sustainable urban development by creating an enabling platform for exchange of knowledge and best practices among officials, professionals, business leaders and local self-governing bodies, and by encouraging participation of international firms and Public Private Partnership models; implementation will be effected through a joint intergovernmental working group comprising representatives of the relevant ministries of both countries.

Plan placement before council advances a growth-and-inclusion agenda emphasizing investment, infrastructure, and Aadhaar-based transfers.
The executive approved placing the Draft Twelfth Five Year Plan before the National Development Council, proposing an aggregate resource envelope for Centre and States, higher fixed investment and capital formation rates, and a conditional scenario in which full policy implementation yields Strong Inclusive Growth. The Plan stresses inclusiveness for disadvantaged groups, accelerated infrastructure execution to remove supply bottlenecks and boost investment, and substantial programme allocations for health, education, water, rural employment, roads, child development and livelihoods, with beneficiary payments recommended via the Aadhaar platform to reduce delivery leakages.

Grants-in-aid secure timely salary payments and support employee welfare during public sector company restructuring.
The Cabinet Committee on Economic Affairs approved a grant-in-aid of Rs.130 crore to ITI Ltd. to ensure timely payment of salaries for the next four months, aimed at mitigating employee hardship and maintaining workforce motivation while the PSU addresses accumulated losses, technological challenges, high fixed costs, and constraints on R&D and new product investment.

Withdrawal from PCPIR: State replaced the project with industrial, power and eco tourism developments; Centre acceded.
The State of West Bengal informed the Central Government that it would not develop the approved PCPIR in Haldia and Nayachar and would instead develop an industrial park, a power plant and an eco tourism park; the Central Government, which conducts quarterly reviews under the PCPIR policy and noted the State's non attendance at review meetings, acceded to the State's decision.