After GST, States are allowed to collect ONLY electricity duty, mandi fee, property tax, and stamp duties . Goodbye “check post raj”.
Post the checkpost date
On Saturday, govt enacted the long overdue GST regime, spelling an end to check-post raj. States will still collect electricity duty, mandi fee, property tax, and stamp duties. But with the Centre moving quickly to get more sectors under GST—there is a proposal of 12% tax on sale of houses—India will soon move to one nation, one tax regime.
Single sectoral regulators: NITI A makes a case for a single Energy Regualtor. Rakesh Mohan’s Transport Report had also pitched similarly
All for one
After Rakesh Mohan suggested establishment of a single transport regulator, NITI Aayog is expecting a similar solution to get India energy ready by 2040. An omnibus energy regulator will solve the problem of differential policy decisions, as also provide consumers with a choice using better tech.
Not a “Dying” Industry : The Int Energy Agency estimates global coal demand to grow at 0.6% per annum till 2021, as against 2.5% earlier
Coal may be going out of fashion with green economies, but it will not be losing sheen. Although demand is expected to taper from 2.5%, IEA estimates 0.6% growth pa till 2021.
Tourism Infra gets attention. Rs 1500 cr plan for cruise terminals at Mumbai, Goa, Chennai, Kochi & Kandla.100 cruise ships to go up to 700
Govt is moving to make India more incredible with a Rs 1,500 cr investment for cruise terminals, with an aim to attract 10-fold traffic. The move is expected to add 2.5 lakh jobs, and also increase India’s share in global cruise tourism from 0.5%. It also sits well with the plan to build better beaches.
Remember those days when everybody was rushing to set up SEZs. Now Commerce Ministry set to cancel 62 projects where no progress happened
The govt is cancelling 62 SEZ projects, including Cochin Port trust, owing to no progress. Of the 421 approved SEZs, only 218 are operational, but these have created 17 lakh jobs and attracted `4.32 lakh crore. With government looking to align SEZ law with GST, there may be hopes of a revival.
ADB to invest $ 10 bill in India over 5 yrs.That’s Rs 12,800 cr per year. Equivalent to funding one Tier2 Metro project each year. Welcome
UP, Bihar, Jharkhand, Odisha and Chhattisgarh are to get a major infra push with half of ADB’s $10 billion commitment over the next five years expected to flow to these states. The other half will accrue to East coast economic corridor. This will mark over $50 billion investment by ADB, over 35 years.
Cement production grew 1.8% in May vs 2.4% decline in April. Maybe indicative of an upturn in construction, but monsoons may dampen trend .
Cementing a place
It’s too early to write off construction, if new cement figures are anything to go by. Core industry data shows an uptick in cement demand, as production grew 1.8% in May, from a decline of 2.4% in April. Cement accounts for 5.37% weight in core sector.
About time !! @PiyushGoyal gives state level power Regulators a piece of his mind. Asks them to act independently and professionally.
Power ministry may be happy with UDAY performance, but that is certainly not the case with regulators. Talking about non-viable tariffs plaguing investment, and not honouring solar PPA obligations, the minister asked them to act professionally and independently.
Source Link – Financial Express