States get permission to borrow 0.05 per cent of the Gross State Domestic Product (GSDP) for meeting the target set for the state for reduction in AT&C losses and an additional 0.05 per cent of GSDP for crossing the ACS-ARR gap target
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Bihar clocks 10.5 per cent growth rate in FY 2019-20: Economic Survey
Bihar recorded double-digit growth rate in the financial year 2019-20, more than double the rate of growth at the national level then. The growth rate in Bihar in 2019-20 fiscal has been recorded at 10.5 per cent while it was 4.2 at the national level during the period, the Economic Survey 2020-21 introduced in the state legislative assembly during the day said.
The state had clocked 9.3 per cent growth rate in the fiscal 2018-19, the survey said, adding the increase in the succeeding financial year was largely fuelled by the growth of services sector.
Punjab to revive industry in post-Covid era with fiscal incentives
By IANS |
Published on
Fri, Feb 19 2021 16:57 IST |
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Rupees.. Image Source: IANS News
Chandigarh, Feb 19 : To promote post-Covid-19 industrial revival and attract greater investment, the Punjab Cabinet on Friday gave approval to amend the Industrial and Business Development Policy of 2017 for extension of GST formula for availing incentives under the policy till October 17, 2022. The fiscal incentive under this policy was only applicable for investment proposals received by March 31, 2020 on the Invest Punjab Business First Portal. With the Cabinet decision, the GST formula notified on October 17, 2018 will be extended for availing the incentive.
Five more states undertake partial power sector reforms
By IANS |
Published on
Fri, Feb 19 2021 16:21 IST |
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Power demand. (File Photo: IANS). Image Source: IANS News
New Delhi, Feb 19 : Reform linked additional borrowing permissions are stimulating reforms in the power sector across the states.
As a part of the reform process, five more states Bihar, Goa, Karnataka, Rajasthan and Uttarakhand have successfully met the target set by the Power ministry for reduction in Aggregate Technical & Commercial (AT&C) losses or achieved the targeted reduction gap in Average Cost of Supply and Average Revenue Realisation (ACS-ARR).
Reduction in AT&C losses and ACS-ARR gap are two of the three reforms in Power Sector stipulated by the Department of Expenditure, Ministry of Finance.
Punjab to amend industrial policy to avail incentives through extension of GST formula ANI | Updated: Feb 19, 2021 21:57 IST
Chandigarh (Punjab) [India], February 19: To promote post-COVID industrial revival and attract greater investment, the Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Friday gave the approval to amend the Industrial and Business Development Policy, 2017, to extend the Goods and Services Tax (GST) formula for availing incentives under the policy till October 17, 2022.
The move is also prompted by feedback or suggestions from certain industry associations for extending the last date of claiming the GST incentive, given in the notification dated October 17, 2018, and make this last date as coterminous till the expiry of the Industrial Policy of the state, according to a statement by the Punjab government.