CAG pulls up Odisha govt over Rs 112 cr royalty shortfall on coal

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The Comptroller and Auditor

General (CAG) of India has pulled up the for non-inclusion of sizing charges in the Run-of-Mine price of coal during assessment, resulting in short levy of royalty of Rs 112.26 crore.


Mines and Minerals (Development and Regulation) Act, 1957, provides that the holder of a mining lease shall pay royalty in respect of any mineral removed or consumed by him from a lease area at the specified rate, the said in its report on revenue sector for the year ended March 2018.



In terms of a 2012 notification of the Ministry of Coal, royalty on coal is leviable at the flat rate of 14 per cent ad-valorem on the price of coal as reflected in the invoice excluding taxes, levies and other charges, said the report tabled in the Odisha Assembly on Tuesday.


As per the notification of Coal India Limited of December 2013 on price of coal, if the top size of coal is limited to 100 millimetres through manual facilities or mechanical means, sizing charge at the rate of Rs 79 per tonne shall be added to the price applicable

Govt appoints Ashima Goyal, Jayanth Verma, Shashanka Bhide as MPC members

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The government has appointed three external members to the central bank’s panel that decides interest rates, said a government official. These three members are — Ashima Goyal, member of Economic Advisory Council of Prime Minister, Shashanka Bhide, senior advisor at National Council for Applied Economic Research and Jayanth Verma who is a professor in Indian Institute of Management, Ahmadabad.


The appointment has come after the government faced widespread criticism over failing to act on time to appoint an external panel to the (MPC). Last week, (RBI) had to defer its three-day interest-rate meeting, without giving any reasons or a new date of its policy decision. The meeting was scheduled on September 29, 30 and October 1.



Sources indicated that the fresh dates for the MPC meeting will be shortly announced by the central bank and most likely it will be held early next week.


Experts say that all three hold rich experience and are suitable for the position.


For instance, Goyal is also an independent director at Edelweiss Financial Services, IDBI Bank and SBI General Insurance. She was also a

India gives highest attention to sharing of scientific data: DST Secy

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Department of Science and Technology secretary Ashutosh Sharma has underlined the increasing attention given by India on sharing scientific data with its global partners, the DST said on Sunday.


Addressing the Science & Technology Ministerial Roundtable on Saturday, organised in the 17th annual Science Technology and Society (STS) Forum, Sharma also highlighted that vaccines for coronavirus are in advanced phases of trial, and India has the capacity to supply the vaccine to a major part of humanity.



Sharma said the increasing attention given by India to sharing of scientific data is evident from India’s National Data Sharing and Accessibility Policy (INDSAP) and an open government data portal.


Scientific data sharing is being considered for inclusion in the New S T I P 2020 being framed. Data is the new water, and we do want to share it as global partners, Sharma emphasised.


The online Science & Technology Ministerial Roundtable, organised on Saturday and hosted by Japan, deliberated on the role of international R&D collaboration, social sciences & humanities, and open science.


It saw the participation of S&T heads from about 50 countries around the world

Javadekar tells Goan farmers not to fall prey to politics over farm Bills

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Union Minister Prakash Javdekar on Saturday urged Goan not to fall prey to the politics over the newly enacted agricultural laws, saying that the Congress party has always deprived of their rights.


“The Swaminathan commission had proposed three times the average production cost to the but Congress rejected the proposal every time. These laws enacted by the Prime Minister are intended to enable farmers to get better revenue. Please do not fall prey to the Opposition’s agenda. They are only opposing this law for politics,” the Union Minister said here as part of the Central government’s initiative to make farmers aware of the benefits.



He added, “Under the Modi government, farmers have got Krishi Cards, water supply and new bank accounts. The agitation in Punjab by the Akali Dal, Congress and Aam Aadmi Party is only for politics.”


Javedkar further urged Goan farmers to approach the respective Zonal Agriculture Officers (ZAO) to cross-check and verify that their names are listed as beneficiaries under Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Yojana) and other farmer welfare schemes.

(Only the headline and picture of this report may have

India, Germany talks on resumption of passenger flights to be held on Oct 6

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said on Friday it will hold talks with on October 6 on how to resume passenger flight operations between the two countries.


“We have received signals that is also interested in a quick and satisfactory solution for both sides,” the German Ministry of Transport and Digital Infrastructure (BMVI) told PTI.



On Tuesday, had announced cancellation of all “planned flights” between and from September 30 to October 20 because of an “unexpected rejection” of its flight schedule by the Indian authorities.


on Thursday cancelled all 12 flights between Frankfurt and India till October 14 because withdrew its permission to operate them.


In response to queries sent by the PTI, the BMVI stated it and the Indian Ministry of Civil Aviation are “confirmed to hold bilateral talks on October 6 through video conference”.


“The aim is to find a solution on how to restore civil air transport between Germany and India in the spirit of the existing air transport agreement between our two countries,” it added.


In response to question on what is the way forward

After contracting for 6 months, exports up 5.27% in September: Goyal

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After contracting for six months in a row, the country’s exports grew by 5.27 per cent to USD 27.4 billion in September, Commerce and Industry Minister said on Thursday.


He said this is an indicator of the “rapid recovery” of the Indian economy as it surpasses pre-COVID-19 levels across parameters.



“Make in India, Make for the World: Indian merchandise exports grow 5.27 per cent in September 20 as compared to last year,” he said in a tweet.


In September 2019, the exports stood at USD 26.02 billion.


Contracting for the sixth straight month, India’s exports had slipped 12.66 per cent year-on-year to USD 22.7 billion in August.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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