New Delhi : A high-level panel of the union environment ministry will over the next two days consider clearances for a clutch of projects entailing an investment of about Rs 80,000 crore.

15% allowance on capital expenditure would help PSUs, too

India Inc has a good reason to step up capital expenditure (capex). With the Budget proposing an additional investment allowance of 15 per cent for assets acquired and installed in the next two years for over Rs 100 crore in capital spending, companies are expected to get a total benefit of Rs 25,000 crore.
According to an estimate by the Centre for Monitoring Indian Economy (CMIE), India Inc plans fresh capital expenditure of around Rs 5,00,000 crore in 400 projects in the next two financial years.

As many as 10 coal blocks were allotted in the state of Chhattisgarh in last five years but none could start the production.

Last week, Sriprakash Jaiswal said files were yet to reach him

The Coal Ministry has not acted upon the recommendations of the Inter-Ministerial Group (IMG) for de-allocating six additional coal blocks and deduct bank guarantee in the case of seven companies. Although the IMG had submitted its final recommendations relating to the treatment of 29 coal blocks allotted to private parties, who were issued show cause notices, the Coal Ministry, under Coal Minister Sriprakash Jaiswal, has failed to initiate further action in pending cases

The Inter-Ministerial Group (IMG) on Thursday recommended de-allocation of two more coal blocks and deduction of bank guarantee (BG) of two more blocks.

Thursday’s action concludes the IMG scrutiny of 29 blocks in the first phase. The blocks deallocated on Thursday are: Bhaskarpara, allotted to Kumarmangalam Birla-promoted Grasim Industries and Mukesh Bhandari-owned Electrotherm, and Dahegaon Markardhokra IV block, given jointly to IST Steel & Power, Gujarat Ambuja Cement and Lafarge India.

The government’s Inter-Ministerial Group (IMG) reviewing progress of coal blocks is understood to have recommended cancelling two more acreages being developed by five companies, according to people close to the development. A final view on the recommendation will be taken by Coal Minister Sriprakash Jaiswal soon.

The two blocks include Bhaskarpara with 24.6 million tonnes (mt) being developed jointly by Electrotherm (India) Ltd and Grasim Industries Ltd and Dahegaon/Makardhokra-IV with 131 mt reserves being developed by IST Steel & Power, Gujarat Ambuja Cement and Lafarge India.