Compensatory Tariff
Need to see why industries seek high duties despite tariff cuts: DPIIT secy
India has reduced its tariffs significantly over the years, bringing them down to the world average level, yet the domestic industries continue to suggest increasing the duties, a senior government official said on Wednesday. Secretary in the Department for Promotion of Industry and Internal Trade Amardeep Singh Bhatia said that it needs to be examined why such requests come. "On the export market side and integration with the (global) supply chains, there is also a lot of work which has been done in terms of reduction in tariff, the weighted tariff has come down substantially and it is almost at the world average level. But of course, there are pressures that it should be increased by the domestic industry, which we need to look at why these requests keep coming up. Why are we not competitive enough," he said. India has also free trade agreements with different countries to push exports. The Secretary was speaking at CII's Global Policy Forum 2024. Cut in customs duties on raw ..
 "Need to see why industries seek high duties despite tariff cuts: DPIIT secy")
PM Modi to virtually distribute dues of Hukumchand Mill workers in Indore
Prime Minister Narendra Modi will virtually address a programme and distribute dues worth Rs 224 crore pertaining to workers of Hukumchand Mill in Madhya Pradesh's Indore city on Monday. The PM will participate in 'Mazdooron Ka Hit, Mazdooron ko Samarpit' event to be held at Kankeshwari ground via video conference and hand over a cheque of Rs 224 crore, an official release said. The programme will mark the settlement of long pending demands of the workers. As many as 4,800 workers will benefit due to the disbursal of dues, it said. Workers of the Hukumchand Mill fought a long legal battle for the payment of their dues after the mill in Indore was closed in 1992, and went into liquidation. On the initiative of the Madhya Pradesh government, the state Housing & Infrastructure Development Board and labour unions sealed an agreement and the settlement amount was deposited in the high court on December 20, as per the release. During the function, PM Modi will also virtually perform ...
 "PM Modi to virtually distribute dues of Hukumchand Mill workers in Indore")
SC's compensatory tariff order strengthens CERC powers
The Supreme Court (SC) recently ruled against any compensatory rates for suppliers of electricity (using imported coal) due to any change in international regulations. What the order also did is to uphold the Central Electricity Regulatory Commission (CERC)'s power. This latter aspect has also raised hopes for the two companies directly affected by the ruling, Adani Power and Tata Power, for seeking compensation. Also, many other private entities -- CLP, Reliance, GMR, GVK -- stand to benefit. "In a situation where there are no guidelines framed at all or where the guidelines do not deal with a given situation, the Commission's general regulatory powers under Section 79(1)(b) can then be used," said the SC order dated April 11.This reverses what the Appellate Tribunal for Eelctricity had decided only three months earlier. It had declared CERC had no regulatory power under the same section to vary or modify the bid rates or otherwise grant a compensatory one for projects bid under ...
 "SC's compensatory tariff order strengthens CERC powers")
SC rules out compensatory tariff to Tata Power, Adani Power; stocks tumble
Shares of Tata Power fall as much as 6.78%; Adani Power slumps 20% to its lowest since Feb 21
 "SC rules out compensatory tariff to Tata Power, Adani Power; stocks tumble")
