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    News
    All› Customs, DGFT & SEZ › Customs, DGFT & SEZ - 2012
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    December 31, 2012
    India’s International Investment Position (IIP), September 2012
    Show AI Summary
    International Investment Position shows widening net external liabilities as liabilities grew faster than assets, lowering asset to liability ratio.
    IIP at end September 2012 shows net claims of non residents on India increased as liabilities rose more than assets; reserve assets dominated external assets while direct, portfolio investment and loans were principal liability components. Equity liabilities expanded in US dollar terms partly due to exchange rate valuation, and the non debt share of liabilities increased. The asset to liability ratio declined. The release specifies data sources and compilation conventions and notes quarterly dissemination consistent with IMF SDDS with a one quarter lag.
    December 31, 2012
    Year End Review 2012 - Major Achievements & Highlights of Ministry of Steel
    Show AI Summary
    Export duty increase on iron ore conserves domestic resources and incentivises beneficiation and pelletisation measures
    Export duty on iron ore (except pellets) and on chrome ore and concentrates was increased while basic customs duty on equipment for iron ore beneficiation and pelletisation was reduced to promote domestic value addition; concurrent administrative reforms include ISO:9001 certification planning, a revised Sevottam Citizen's Charter and an anti corruption action plan aimed at strengthening governance.
    December 29, 2012
    Definition of 'Infrastructure Loan' of NBFCs - Harmonisation
    Show AI Summary
    Infrastructure loan definition harmonisation revises NBFC eligibility and sectoral list for infrastructure lending, with transitional protection for existing exposures.
    The Reserve Bank harmonised the definition of infrastructure loan for NBFCs with the Government's Master List by replacing paragraph 2(1)(viii) in the Prudential Norms Directions; the revised definition lists five categories (Transport, Energy, Water & Sanitation, Communication, Social and Commercial Infrastructure) and their constituent sub-sectors. Existing exposures that qualified under the prior definition but are excluded under the revised list remain eligible until project completion, while fresh lending to omitted sub-sectors after the circular's date will not qualify as infrastructure lending.
    December 27, 2012
    PM’s opening remarks at 57th meeting of NDC
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    Inclusive growth as Plan priority: accelerate reforms, GST, direct transfers via Aadhaar, and address energy and water pricing.
    The Twelfth Five Year Plan focuses on achieving faster, inclusive and sustainable growth by removing domestic constraints, expediting stalled large projects through institutional measures, and increasing fiscal resources via tax reforms including early GST implementation. It prioritises agricultural productivity, manufacturing and infrastructure expansion (notably via PPPs), rationalisation of subsidies and Centrally Sponsored Schemes, and migration of beneficiary schemes to direct transfers using Aadhaar to improve targeting. Energy pricing reform and comprehensive water management are highlighted as critical systemic priorities, with States bearing primary responsibility for many actions.
    December 26, 2012
    Anand Sharma Announces Measures to Boost Exports Government AIMS to Move to Positive Territory in Exports
    Show AI Summary
    Interest subvention scheme extended to exporters, SMEs and engineering sub sectors, plus pilot project export credit via EXIM Bank.
    The interest subvention on rupee export credit is extended through March 2014 and eligibility expanded to SMEs and specified engineering sub sectors; a pilot interest subvention for project exports will operate through EXIM Bank linked to the Buyer's Credit mechanism to provide concessional long term co financing for infrastructure projects.
    December 26, 2012
    Export of additional 25 lakh tonnes of wheat from Central Pool Stocks of Food Corporation of India
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    Wheat export authorization permits additional central pool shipments under tender with government reimbursement for shortfalls.
    Approval authorises export of 25 lakh tonnes of wheat from FCI central pool via CPSUs under competitive tenders subject to a floor price of US$ 300 per tonne to be completed by June 2013, with the Government reimbursing FCI for losses measured as the difference between economic cost and net realisation after port expenses and a 2.5% commission, and providing additional funds beyond the budget estimate to cover such reimbursement.
    December 24, 2012
    Estimating Impacts of Monetary Policy on Aggregate Demand in India
    Show AI Summary
    Interest rate channel dominates monetary transmission; rate hikes reduce aggregate demand, hitting investment and imports hardest.
    An interest rate increase contracts aggregate demand in India, peaking within two quarters and dissipating over about eight quarters; SVAR impulse responses and variance decompositions show policy rate shocks reduce GDP and, with a lag, inflation, induce REER depreciation, and explain a substantial share of output fluctuations, while investment and imports bear the largest declines and government consumption shows negligible cumulative effect.
    December 24, 2012
    Indian Agriclutre Shows Resilience: Low Impact of Drought on Foodgrain Production Rising Capital Formation, Plan outlay, Farm Credit to Result in Higher Growth in Agri Sector
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    Drought relief measures expanded with subsidies, credit incentives, employment and import duty relief to protect foodgrain production.
    To manage monsoon shortfalls and sustain production, the Centre and States coordinated through an inter ministerial forum and an Empowered Group of Ministers to implement drought contingency plans, monitoring and a package of relief measures including diesel subsidy, higher seed subsidy ceilings, scaled up feed and fodder programmes, import duty waivers on oilcakes, additional allocations to fodder and protein supplement schemes, rescheduled crop loans with reduced interest, and expanded rural wage employment in drought declared areas.
    December 20, 2012
    Production of Coir Fibre
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    Industry support for the coir sector through modernisation and market-promotion schemes to counter competition and sustain exports.
    Coir production and exports have shown year-to-year variation, with exports increasing overall but recent year-to-date figures lower than prior annual totals. Facing competition from cheaper synthetic and natural fibres, the Coir Board is implementing measures including Science and Technology programmes, Skill Upgradation and Quality Improvement, Development of Production Infrastructure, Domestic and Export Market Promotion, REMOT modernisation, and the SFURTI regeneration scheme, as reported in a ministerial written reply to a parliamentary question.
    December 20, 2012
    Marketing of Iron Ore by NMDC
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    Export duty on iron ore raised to restrict exports and improve domestic availability for industry.
    NMDC sets distinct export (FOB port) and domestic (FOR/FOT mine) prices that are not directly comparable; pricing decisions are taken commercially by the company's Board of Directors within a deregulated sector. The Government increased the export duty on iron ore (except pellets) to improve domestic availability and affordability, while generally refraining from intervening in NMDC's commercial pricing decisions.
    December 20, 2012
    Quality Standard on Import of Steel
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    Mandatory steel quality standards require conformity for imports and domestic production, with deferred implementation to allow registration.
    Notification under the Steel and Steel Products (Quality Control) Order, 2012 requires designated steel products, whether domestically produced or imported, to conform to prescribed standards and conditions. The Order uniformly applies to both large and small producers, does not prohibit imports, and includes phased implementation and deferrals to allow units to obtain BIS license/registration and register with the Bureau of Indian Standards.
    December 20, 2012
    Rise in Rural Steel Consumption
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    Mandatory conformity to BIS standards now bars manufacture, import, sale or distribution of nonstandard steel products nationwide.
    The Government has placed 16 products under the Steel & Steel Products (Quality Control) Order issued under the Bureau of Indian Standards Act and progressively enforced standards across applicable Indian Standards. An amended Second Order prohibits manufacturing, importing, storing for sale or distributing steel and steel products that do not conform to the standards or that do not bear the prescribed standard mark (BIS/ISI), with remaining standards phased into force by the announced enforcement date.
    December 20, 2012
    Telecom Regulatory Authority of India has today Released a Pre-Consultation Paper on ‘Review of Tariff for National Roaming’
    Show AI Summary
    National roaming tariff review seeks stakeholder inputs on cost components, SMS/video tariffs and roaming voucher options
    A regulatory review of national roaming charges has been initiated due to changes in cost regimes and policy direction. The Authority released a Pre Consultation Paper to gather stakeholder inputs to inform a detailed Consultation Paper, seeking views on cost components to include in roaming tariffs, cost recovery if incoming calls are free, tariff treatment for roaming video calls and SMS, and the role or regulation of Special Tariff Vouchers for roaming subscribers.
    December 20, 2012
    Bilateral Trade between India and EU
    Show AI Summary
    Bilateral trade data: country wise merchandise exports and imports reported, with promotion of EU market diversification and cooperation.
    Country wise merchandise export and import values for India EU relations are presented for 2009-10 to 2011-12, with aggregate totals and detailed Annexure tables; services sector data are not available. India conducts regular Joint Commission Meetings with 28 European countries and supports Chambers of Commerce interactions and participation in major trade fairs to promote diversification toward Central and Eastern European markets.
    December 19, 2012
    Contribution of States in Exports
    Show AI Summary
    ASIDE scheme oversight strengthened by state export committee, nodal officer and web-enabled monitoring, ensuring targeted export infrastructure support.
    ASIDE scheme implementation in Jharkhand is administered by a State Level Export Promotion Committee chaired by the Chief Secretary, supported by a Nodal Officer at Joint Secretary level in the Department of Commerce; regional appraisal meetings and a web-enabled monitoring system enable stakeholder oversight. Over the past ten years funds totalling Rs.24.22 crore have been released for seven state projects under ASIDE, and Jharkhand's export contribution is recorded at 0.18% of national exports.
    December 19, 2012
    Concession to Senior Citizens
    Show AI Summary
    Senior citizen concession in telecom tariffs: mandatory reduced rural fixed-line rentals and PSU-linked installation and service discounts.
    Concessions for senior citizens in rural fixed-line telephony include mandatory reduced monthly rentals by exchange capacity bands as part of the standard package, with providers permitted to offer alternative, non-discriminatory tariff combinations; government-controlled public sector undertakings provide additional senior-specific concessions such as priority registration, exemption from registration charges, and installation and monthly charge discounts.
    December 19, 2012
    Change in Land Usage Policy of Non-Processing Zones of SEZs
    Show AI Summary
    SEZ processing area requirement defines land allocation and differing fiscal incentives between processing and non-processing zones.
    Special Economic Zones are divided into processing, exclusive trading/warehousing, and non-processing areas; the Board of Approval authorises land allocation and permitted infrastructure uses, while fiscal concessions under SEZ legislation differ between processing and non-processing areas because units can be established only in processing areas.
    December 19, 2012
    Decline in Exports
    Show AI Summary
    Interest subvention scheme extended to support specified export sectors, alongside supplementary foreign trade policy incentives.
    Extension of the interest subvention scheme for certain specified export sectors has been announced as a short-term administrative measure to maintain subsidised credit support for exporters, complemented by measures contained in the Annual Supplement to the Foreign Trade Policy.
    December 19, 2012
    Contribution of States in Exports
    Show AI Summary
    Export promotion ASIDE oversight: state-level committees and nodal officers monitor implementation and enable targeted project support.
    Certain states accounted for significant export shares in 2011-12 while Jharkhand's share was 0.18%. The Department identified export infrastructure bottlenecks and promoted best practices under the ASIDE scheme. Jharkhand's ASIDE implementation is overseen by a State Level Export Promotion Committee chaired by the Chief Secretary and monitored by a Nodal Officer at Joint Secretary level in the Department of Commerce; regional appraisal meetings and a web-enabled monitoring system support supervision. Central funds were released to seven state projects in Jharkhand under ASIDE during the last decade.
    December 18, 2012
    Several initiatives taken for Development of Electronics Hardware Manufacturing: Shri Kapil Sibal consultative Committeee meeting of Ministry of Communication and IT held
    Show AI Summary
    Preferential Market Access for domestically manufactured electronics to stimulate local ESDM through procurement and standards-based measures.
    Initiatives expand domestic Electronics System Design and Manufacturing (ESDM) through policy and incentives including the National Policy on Electronics, Electronics Manufacturing Clusters, M SIPS, semiconductor fabrication facilitation, and an Electronics Development Fund; complemented by market pull measures such as Preferential Market Access, DOT procurement notifications for government projects, mandatory product registration for safety standards, export promotion, and priority sector treatment for IT purchases.

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      Customs, DGFT & SEZ

      Concession to Senior Citizens

      December 19, 2012

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      Press Information Bureau

      Government of India

      Ministry of Communications & Information Technology

      19-December, 2012 16:05 IST

       As per the Telecommunications Tariff Order notified by Telecom Regulatory Authority of India (TRAI) on 9th March 1999 (Schedule 1, item 5), following concessions in monthly rental are provided to senior citizens in respect of Rural Fixed line services:

      (5)    Monthly Rentals for Rural Subscribers  

      Fixed line Telephony Service including wireless in local loop technology (Fixed)

      Capacity of local Exchange System

      Sr. Citizen

      Others

       

      (Number of line)

      (Rs)

      (Rs)

      (i) Upto 999

      70

      70

      (ii) 1000 to 29,999

      120

      120

      (iii) 30,000 to 99,999

      180

      200

      (iv) 1 lakh and above

      250

      280

      It is mandatory to offer the above as part of standard package. However, the service providers have the flexibility to offer alternative combinations of tariff to different classes of subscribers in a non-discriminatory manner.

      The following concessions are provided to senior citizens (65 years and above) by government controlled Public Sector Undertakings (PSUs), i.e. Bharat Sanchar Nigam Limited (BSNL) & Mahanagar Telephone Nigam Limited (MTNL):

      BSNL – BSNL is granting following concessions in fixed line telephone connection to senior citizens:

      (i) Registration of telephone on priority under NON-OYT-Special category,

      (ii) Exemption from payment of registration charges while registering the request for a telephone connection.

      MTNL – Senior citizens are allowed following concessions on landline telephone connections:

       (i) 25% concession in installation,

      (ii) 25% concession in monthly service charges in plan 250.

      This information was given by Shri Milind Deora, Minister of State for C&IT in written reply to a question in Lok  Sabha today.

       

      ********

       

      MV/RK

       

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