Page 2 - Subsidies

SMEV seeks clarity from Heavy Industries Ministry over refund of subsidies

Electric two-wheeler makers body SMEV on Friday sought clarifications from the Ministry of Heavy Industries about its claim for refund of subsidies from some OEMs who did not comply with phased manufacturing programme (PMP) norms. Pointing out that the basis for refund would only mean that the processing of subsidies and the official reimbursement was done faultily, it has asked for the ministry (MHI) to clarify if it intends to thus cancel all subsidy claims during this period for all OEMs (Original Equipment Manufacturers), SMEV said in a letter to Heavy Industries Secretary Kamran Rizvi. The letter also sought the legal basis for the refund amounts since they do not conform to any stated mechanism in the rules. SMEV had earlier offered a solution to the issue through recovery from customers directly which would have cleaned off the subsidy slate completely. "The Ministry is in debt to OEMs to the tune of Rs 1,200 crore. If their demand for refund of earlier paid subsidies to the

Subsidies should be cut gradually: Hero Electric MD Naveen Munjal

In June, electric two-wheeler sales decreased in India by 56.3 per cent month-on-month (m-o-m) to 45,806 units, primarily due to the aforementioned price hikes

Betting big: Global subsidy race puts a spanner in India semicon works

But other countries are also ramping up their chip manufacturing plans

Big money rushes into carbon capture and storage. Can it deliver this time?

But after decades of failing to reach the scale needed to make a real difference, the people responsible for approving generous subsidies and directing billions in investment want proof

Not in receipt of Centre's notice for subsidy recovery: Okinawa Autotech

Okinawa and Hero Electric have been in the eye of the storm

EV industry body seeks Parl's intervention in release of pending subsidies

Electric vehicle industry body SMEV on Tuesday appealed to a parliamentary panel to direct the government to release the pending subsidy of Rs 1,200 crore earmarked for the liquidity-hit sector. In a petition to the Parliamentary Standing Committees on Industry and Estimates, the Society of Manufacturers of Electric Vehicles (SMEV) stated that EV adoption is slowing down due to the financial stress being faced by the industry. The industry body said the EV segment has been besieged by irritants designed to disturb the momentum of the FAME 2 scheme. "Now that the country is almost ready with the entire supply chain, the only thing holding up the sector is the Rs 1,200 crore worth of subsidies that have been withheld leading to a serious liquidity crisis in the industry," it said. The need of the hour is for the government and the industry to work together to resolve issues and put India back on track to meet its electric mobility targets, the petition said. In December last year, U

Compliant with localisation norms under FAME II: Okinawa MD Sharma

Co submitted requisite documents; awaiting meeting with MHI; at an industry level subsidy worth Rs 1,500 cr held up

Domestic gas cylinder prices up by 56% in 4 years; hefty drop in subsidy

The retail selling price (RSP) of a domestic LPG cylinder (14.2 Kg) on April 1, 2019 was Rs 706.50 which increased to Rs 744 in 2020, Rs 809 in 2021 and Rs 949.50 in 2022

Centre planning to introduce measures to bring down fertiliser subsidy

Centre's focus is to bring down the cost of gas which is a key component for production of urea. Information from official sources indicated that bids, some of which stood at more than $30

Fiscal deficit target for FY24 to be kept at 5.8-5.9% in Budget: Report

The fiscal deficit is expected to remain much larger than the 4-4.5 per cent of the GDP that was usual for decades

Despite support from Centre, big states lagged on capex in FY23

Due to crucial state elections in 2022 and 2023, many state administrations chose to focus on scheme and subsidy spending

Over 4 million consumers apply for Delhi govt's electricity scheme subsidy

More than 40 lakh of the national capital's 57.60 lakh domestic power consumers have applied for subsidies under the Delhi government's free electricity scheme till Tuesday, government data showed. The data also showed 47 lakh consumers received subsidies when consumers didn't need to apply for the scheme. The Delhi government revamped its subsidy scheme to make it mandatory for domestic consumers to apply to avail of the benefit. Chief Minister Arvind Kejriwal had earlier announced that from October, only those consumers who apply for power subsidy would get it. As of Tuesday evening, 40,28,915 consumers have applied for the subsidy. These include 9.88 lakh consumers of BSES Yamuna Power Limited, 18.28 lakh BSES Rajdhani Power Limited consumers and 11.28 lakh Tata Power Delhi Distribution Limited consumers. Another 13,882 consumers under the New Delhi Municipal Council area have also applied, the official figures revealed. "Only those consumers who submitted their applications til

Cash-strapped states pulled out of flagship PMFBY, says Centre

Centre willing to make additional pro-farmer changes in response to climate change

BS Number Wise: Old scheme puts burden of employee pension on the states

Some governments are seeking short-term benefits to finance their bills, risking their financial security

India's April-July fiscal deficit recorded at 20.5% of FY23 target

The centre spent Rs 1.1 trillion or 35% of the full year's estimate for food, fertiliser and petroleum subsidies

Bengal received Rs 2,000 cr investment proposals in food processing sector

West Bengal has received investment proposals worth Rs 2000 crore in the food processing sector and the state may consider raising the subsidy in future from the current levels, West Bengal Food Processing Minister Subrata Saha said on Friday. The minister, who was speaking at the inauguration of the 19th International Foodtech Kolkata 2022 exhibition, said that since the Bengal Global Business Summit 2022 in April over 50 memorandum of understanding of more than Rs 2000 crore have been signed with various domestic and foreign enterprises. The state has passed a proposal to grant subsidies of up to Rs 10 lakh to enterprises setting up projects in the food processing sector in Bengal, the minister said. This subsidy may be increased in future to reach out and attract investments, Saha stated. The three-day mega business to business event is being participated by packaging, confectionery, bakery, dairy and hotel and allied services sectors. Director of Food Processing Industries of

Discuss freebies and also the subsidies to industries

No doubt, the so-called freebies to the poor must be discussed but the subsidies to the industries must also be discussed in depth

Aadhaar number mandatory for availing of govt subsidies and benefits

Under Section 7 of the Aadhaar Act, a person not assigned an Aadhaar number "shall be offered alternative and viable means of identification for delivery of the subsidy, benefit or service"

Need to fix the concept of food subsidies to tackle world hunger crisis

Subsidizing food is largely not an activity that involves the world's poorest people who are most at risk of hunger, but its richest and most amply-fed

Over Rs 1-trillion freebies announced by state govts, shows data

The recurring theme of power as a key component of subsidies also shows up in the overall numbers