My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
CBDT extends due date for filing of Income Tax Returns to 5th August, 2016
Aug 01,2016

The due date for filing of Income tax returns by certain persons under the Income Tax Act is 31st July of the following year. However, taking into consideration the strike by Public Sector Banks (PSBs) on Friday, 29th July, 2016 and the last date for filing of returns being a Sunday, 31st July, 2016, the Central Board of Direct Taxes (CBDT) has decided to extend the last date for such returns which were due on 31st July, 2016 to 5th August, 2016. This extension would apply to taxpayers all over India except the state of J&K.

For taxpayers located in the State of Jammu & Kashmir, the Central Board of Direct Taxes (CBDT) has decided to extend the last date for such returns which were due on 31st July, 2016 to 31st August, 2016 in view of the general disruption of normal life in the last few days.

Powered by Capital Market - Live News

Customer Meet arranged for increasing steel use in Haryana by SAIL and RINL
Aug 01,2016

For the Northern Regions customers, an interaction for increasing steel use in Haryana was organized in Jind, Haryana today, which was graced by Honble Steel Minister Shri. Chaudhary Birender Singh. Haryana MLA Smt. Prem Lata Singh also attended the event. The customers meet based on boosting steel consumption was organized by Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL), the two major steel PSUs under the Ministry of Steel.

Addressing the customers meet, Honble Steel Minister said, n++Haryana is an industrially as well as agriculturally developed state which is widening its scope of development for industries and this will present good opportunity for improved steel consumption.n++ Expressing his confidence on the domestic steel industry including SAIL and RINL, he said, n++the domestic steel industry should exhibit a sense of urgency in leveraging their R&D strength thus improving their cost efficiencies. The domestic steel producers should take all steps to promote use of steel at the earliest as time is of essence in the fast changing business scenario. SAIL and RINL should quickly stabilize their modernized facilities, maximize their performances and strengthen the domestic sector.n++

This customers meet was arranged at a time when India is amongst the few world markets where steel consumption has better prospects and steel demand is expected to grow on back of governments sustained spending on infrastructure, construction, housing, smart cities, Make in India etc. initiatives. The average per capita consumption of steel in India is below 60 kg and in rural India a mere 12 Kg, thus providing ample opportunity to boost steel consumption. While the steel market is globally challenging, the domestic industry must take innovative steps to enhance countrys steel consumption and counter the effects of cheap imports by its cost effective and quality steel. Domestic industry should use design & product engineering for enhancing steel consumption by establishing steels cost effectiveness, quality & durability as a material for construction in sectors like infrastructure, transportation and urban development.

Haryana is a developed state with a good blend of agricultural as well industrial base in its economy. The state has major industrial zones for countrys northern region with presence of several national and international manufacturing companies from sectors including automobile, heavy industries, engineering parts and equipments, paints, diary, agricultural equipments, housing materials, tube & pipes etc. Along with this, the state has a handsome and strong agriculture and food processing industry. In tandem with the vision of central governments progressive policies, Haryana government is also keen to develop many cities as smart cities and Faridabad and Karnal have already found its niche in the centres Smart Cities Mission. All these factors culminate to a strong opportunity for improved steel consumption in Haryana providing a conducive market for domestic producers.

Powered by Capital Market - Live News

Government has approved special package for Textiles and Apparel sector to attract investments and to generate exports
Jul 29,2016

Government has approved special package for Textiles and Apparel sector to attract investments and to generate exports. The details of package are as follows.

The Government announced a special package of Rs 6,000 crores for boosting the employment generation and export potential of the Textile and Apparel Sector. Salient features of the package are:

1. Labour Law Reforms a) Government to bear 3.67% of employers Employee Provident Fund (EPF) contribution for new workmen in addition to existing reimbursement of 8.33% employer contribution under Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) for 3 years.

b) EPF will be made optional for employees earning less than Rs. 15,000 per month; thus, leaving more money in the hands of the workers.

c) Overtime cap will be raised from 50 hours per quarter to 100 hours per quarter leading to increased earnings of workers.

d) Considering the seasonal nature of the industry, fixed term employment will be introduced for the garment sector. A fixed term workman will be considered at par with permanent workman in terms of working hours, wages, allowances and other statutory dues.

2. Additional incentives under ATUFS n++ The subsidy provided to garmenting units, under Amended-TUFS, is being increased from 15% to 25%, providing a boost to employment generation.

n++ The package breaks new ground in moving from input-based to outcome-based incentives; a unique feature of the scheme will be to disburse subsidy only after expected jobs have been created.

3. Enhanced duty drawback coverage

n++ In a first-of-its-kind move, a new scheme will be introduced to refund the state levies which were not refunded so far.

n++ This move will greatly boost the competitiveness of Indian exports in foreign markets n++ Drawback at All Industries Rate will be given for domestic duty paid inputs even when fabrics are imported under Advance Authorization Scheme.

4. Enhancing scope of Section 80JJAA of Income Tax Act

n++ Looking at the seasonal nature of garment industry, the provision of 240 days under Section 80JJAA of Income Tax Act would be relaxed to 150 days for garment industry.

The expected impact of the special package on employment generation in next three years:

n++ The new package is expected to boost up employment generation.

n++ More and more garment units will become compliant with respect to statutory dues and more jobs will be generated in formal sector.

n++ Pro labour reforms like optional EPF, increased overtime limits and fixed term employment will lead to more cash in hand with workers, provide opportunity to earn more and put fixed term workers at par with permanent workers in terms of working hours, wages, allowances and other statutory dues respectively.

The special package will boost the textile and apparel sector by making larger manufacturing set-ups feasible thereby leading to economies of scale in the sector. It will also improve the attractiveness of garment manufacturing for new investments and exports. The current investment in the sector which is growing at 8% year on year is expected to grow substantially in next three years.

Powered by Capital Market - Live News

Food Processing Facilities and Mega Food Parks
Jul 29,2016

The study conducted by Central Institute of Post-Harvest Engineering and Technology (CIPHET), Ludhiana has estimated that annual value of harvest and post-harvest losses of major agricultural produce including fruits and vegetables at national level was of the order of Rs. 92,651 crore based on production data of 2012-13 at 2014 wholesale prices.

Ministry of Food Processing Industries (MoFPI) has been implementing Mega Food Park Scheme (MFPS) since 11th Five Year Plan to create modern infrastructure for the food processing including fruits and vegetables. Total 42 Mega Food Parks (MFPs) have been sanctioned by the Government for setting-up in the country. Till now, 37 projects have been approved for implementation. Out of these, 8 Mega Food Parks have become operational. Proposals under the scheme are invited through Expression of Interest (EoI) from time to time against the vacancies created against cancellation / withdrawal. The willing entrepreneurs apply for setting up Mega Food Park in accordance with the conditions of the scheme guidelines and the projects are selected on merit based on appraisal carried out as per prefixed parameters notified in the scheme guidelines.

Powered by Capital Market - Live News

FCI to sell 65-75 Lakh MT wheat in Open Market during 2016-17
Jul 29,2016

FCI sells wheat and rice in the open market under Open Market Sale Scheme (OMSS) (Domestic) through e-tender. For the year 2016-17, a target of 65-75 Lakh Metric Ton (LMT) has been set for sale of wheat by FCI out of Central Pool under the OMSS (D). A target of 20 lakh MT of Grade A rice has also been kept for sale under OMSS (D) during 2016-17. A quantity of 8.81 LMT of wheat and 0.26 LMT of rice have been sold under OMSS (D) as on 27 July 2016.

GOI has already made an additional allocation of 12.99 LMT wheat and 6.66 LMT rice over and above the Targeted Public Distribution System (TPDS)/ National Food Security Act (NFSA) allocations as drought relief during 2016-17. GOI has also made adhoc additional allocations to States/UTs to meet out their additional requirement as well as to release surplus stock of foodgrains held in the Central Pool.

Powered by Capital Market - Live News

Flood rescue and evacuation operation by NDRF
Jul 29,2016

The flood rescue and evacuation operation by NDRF in various flood prone areas of country is in full swing. 44 self-contained flood rescue teams of NDRF have been pre-positioned in Arunachal Pradesh, Assam, Bihar, Gujarat, Himachal Pradesh, Jharkhand, Jammu & Kashmir, Madhya Pradesh, Rajasthan, Uttar Pradesh, Uttarakhand and West Bengal to assist the respective state administration in rescue and relief work. NDRF teams are fully equipped with boats, deep divers, Lifebuoy, Life Jackets and other flood rescue equipment.

13 flood rescue teams are deployed in Assam to meet the challenges due to flood like situations. NDRF teams evacuated 203 persons at Jorhat, 37 persons at Kokrajhar, 80 persons at Charang, 73 persons at Kamrup Rural and 104 persons at Jorhat district. In addition to rescue work, a Mobile hospital was established by NDRF team at Village Meragarh & Missamora under revenue circle Majuli district Jorhat. The medical team attended 163 sick persons and distributed medicines to needy.

09 flood rescue teams of NDRF are deployed in Bihar in connection with monsoon session. NDRF teams evacuated 43 persons at Supaul, 34 persons at Bhetia, 250 persons at Purnia and 70 persons at Gopalganj.

NDRF teams established Medical Camps at Peru Block, District Muzzafarpur and Supaul and distributed medicine to 63 persons at Supaul and 45 persons at Muzzafarpur.

A 24X7, NDRF control room in New Delhi is closely monitoring the situation and in touch with other agencies.

Powered by Capital Market - Live News

Setting up of four Petroleum Chemical and Petrochemical Investment Regions approved
Jul 29,2016

Department of Chemicals and Petrochemicals, Ministry of Chemicals and Petrochemicals is implementing the Petroleum Chemical and Petrochemical Investment Region (PCPIR) Policy to promote investments, boost manufacturing and generate employment. Substantial investments by upstream Anchor Units in the Refinery and Cracker Segments are envisioned to lead to other investments in the chemical and petrochemical downstream sectors and ancillary industries. Government of India has approved setting up of four PCPIRs in the States of Andhra Pradesh (Vishakhapatnam - Kakinada), Gujarat (Dahej), Odisha (Paradeep) and Tamil Nadu (Cuddalore - Nagapattinam). The fully operational PCPIRs envisage investment of Rs. 7.63 lakh crore and 33.85 lakh job opportunities. No other PCPIR is proposed at present.

Powered by Capital Market - Live News

DIPP to set up Investment Desk and Invest India to channelize investment in tourism sector
Jul 29,2016

To harness the enormous investment opportunities offered by the tourism sector, the Department of Industrial Policy & Promotion (DIPP) and Invest India are setting up an investment desk. The emphasis so far has been on attracting tourists but now the time has come to focus on creating quality infrastructure and filling the gaps on the supply side to allow tourists to have a fulfilling experience. This was stated by Vinod Zutshi, Secretary, Ministry of Tourism, Govt. of India, at the second edition of FICCIs Tourism Investors Meet 2016.

Zutshi said that for the tourism sector to flourish there was a need to develop the core infrastructure of the country which included rail, road, air and waterways. He added that a Task Force was being created by the Ministry of Tourism, Civil Aviation and Railways to improve the connectivity to tourist destinations.

He said that there was immense scope of investment in the hospitality sector as there was a shortage of almost 190,000 rooms at present. He added that the government has been facilitating the private sector investors by improving ease of doing business, introducing single window clearance, business friendly policies and creation of land banks for investors.

However, Zutshi said that there is still a need to bring on board the state governments. Some states have been proactive and have introduced policies for promoting tourism but other states too need to realize that besides attracting tourists, investing in infrastructure was equally important.

Zutshi said that the government was planning to organize Incredible India Tourism Investors Summit 2016 in September to showcase the plethora of investment opportunities in areas of infrastructure development, both from India and overseas. The main objective of the summit is to position the Indian tourism sector for attracting large investments and presenting to the investors tangible investment-ready projects in different states of India.

Ramesh Abhishek, Secretary, DIPP, Govt. of India, said that the government has been able to ease the process of construction permits and custom clearance. The government realizes that adopting right policies would result in double digit growth of GDP for the next three decades and would allow the tourism sector to grow. He added that state portals have also been developed for making the processes transparent.

Abhishek said that the private sector should encourage and promote start-ups and incubators in the tourism sector. He added that the government realizes that the laws in the start-up space have not been able to keep pace with innovation and these were creating obstacles for start-ups. Hence the government was trying to become a partner of the private sector rather than a regulator.

Suman Billa, Joint Secretary, Ministry of Tourism, Govt. of India, said that the hospitality sector had been brought under the infrastructure segment which would enable the sector to grow. However, the threshold for the hotels which is at present INR 200 crore needs to be brought down to INR 50 crore to meet the deficit in hotel rooms and allow middle level players to enter the market. Billa said that the investment landscape was changing in India with the Make in India initiative. There was improvement in ease of doing business, land banks were available for investors and handholding was being done for investors. He added that there has been a change in the mindset and with infrastructure development in the country, investments are coming in.

Dr. Jyotsna Suri, Immediate Past President FICCI, Chairperson, FICCI Tourism Committee and Chairperson & MD, Lalit Suri Hospitality Group, said that the Ministry of Tourism and various states are ensuring that the right strategic initiatives are taken to guide stakeholders in making the right investment decision, and FICCI has been working on Tourism Infrastructure development for the last four years. She added that this year at TIM more than 600 meetings have been pre-scheduled between 72 buyers and seven sellers. These numbers indicate a substantial increase from the last year which witnessed around 350 meetings and 52 buyers.

Nikhil Sahni, Senior President - Government Banking & Strategic Government Advisory, Yes Bank, said that the tourism sector offered ample opportunities for investment and if the status of export industry was accorded to it the sector could grow phenomenally. Also, intelligence and tourist research should be encouraged and efforts should be made to make India a safe destination for tourists. He added that focus should be on improving tourism infrastructure, seamless travel and connectivity and promoting state-owned tourism units.

Powered by Capital Market - Live News

Govt. considering all trade & industry suggestions that will go into making an ideal GST: CBEC official
Jul 29,2016

Quashing doubts in some sections of trade and industry over consideration of their views and suggestions by the government vis-n++-vis Goods and Services Tax (GST), a top Central Board of Excise and Customs (CBEC) official assured that each and every representation received from trade and industry is discussed and deliberated upon.

n++There are various apprehensions in the minds of trade and industry and rightly so because in such a huge country with such diverse trade practices in different parts, that the suggestions and views sent by them may or may not be taken into consideration,n++ said Mr Mahender Singh, director general (GST), CBEC while inaugurating an ASSOCHAM National Conference on Draft GST Law, in New Delhi.

n++Being part of the exercise in the CBEC, I can assure you each and every representation received from trade and industry is discussed and deliberated upon, it may or may not be part of the final GST law but with a certain amount of certainty I can say that it is deliberated upon,n++ said Mr Singh.

n++It is considered, discussed and various aspects are taken into consideration and once the final decision is taken that will be incorporated in the final GST law which will come into effect in due course,n++ he added.

He said that trade and industry had raised various apprehensions as to whether the government would consider their views, suggestions and doubts regarding GST at two seminars that were organised on behalf of the CBEC as an outreach programme in collaboration with state governments, one in Hyderabad and other in Jaipur.

n++This is my assurance on behalf of the CBEC and the government that we encourage interaction with trade and industry and we are always willing to listen to their views, suggestions, doubts and apprehensions,n++ said Mr Singh.

n++The government believes that it works for the people, we have to take care of the trade and industry because ultimately you are the one who will be contributing to the national exchequer and the amount of money which is paid by you in form of tax to the central and state governments will ultimately be used for the welfare of the nation, for the growth of industry, economy and welfare of the people at large,n++ he said.

Highlighting that the model GST law was put in to public domain on June 14, 2016 after taking into consideration the doubts, apprehensions and suggestions of the state governments as well as the trade and industry, he said n++Even after that large number of representations and suggestions have been pouring in which is a very-very healthy sign.n++

n++We have been receiving large number of representations from trade and industry, various chambers of commerce, this is a very healthy exercise and all these suggestions and views will go into making an ideal GST which will come sometime after the constitutional amendment is passed by the Parliament, state assemblies and gets nod of the honourable President,n++ added Mr Singh.

In his address at the ASSOCHAM conference, former CBEC chief, Mr Sumit Dutt Majumder said that industry and all stakeholders should go through the GST law thoroughly and in-detail as once it becomes an act it will be difficult to amend the same.

Terming the delay in the passage of GST as a blessing in disguise, Mr Majumder said that implementation of GST will be a great challenge as the country is not prepared for the same.

Powered by Capital Market - Live News

Simplified Central Excise norms for Jewellery Sector notified
Jul 29,2016

In this years Budget, central excise duty of 1% without input and capital goods tax credit or 12.5% with credit was imposed on articles of jewellery falling under heading 7113 of the First Schedule to the Central Excise Tariff 1985. Subsequent to that, the Government had set up a Sub-Committee of the High Level Committee, headed by Dr. Ashok Lahiri to interact with Trade & Industry on issues relating to procedure and compliance relating to excise duty of articles of jewellery.

The Sub-Committee has given its report on 23 June 2016, which has been accepted by the Government. In this connection, the Central Government has issued following notifications and circulars to give effect to the Sub-Committees recommendations:

A.        Notifications issued:

Notification No.Gist of notifications26/2016 - Central Excise


Seeks to amend notification No. 12/2012-Central Excise so as to prescribe 1% excise duty (without input and capital goods credit) on parts of articles of jewellery falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of 1986), and to prescribe a criteria for classification of an articles of jewellery or part of articles of jewellery or both as that of a particular precious metal.

27/2016 - Central Excise


Seeks to partially exempt Central Excise duty on articles of jewellery falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of 1986) manufactured by:

(a)    re-conversion of jewellery given by the retail customer, or

(b)     mounting of precious stone given by the retail customer.

28/2016 - Central Excise

Seeks to amend notification No. 8/2003-Central Excise dated 1st March, 2003, so as to increase for articles of jewellery or parts of articles of jewellery or both, falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of 1986):

(a)         the SSI Exemption limit from Rs. 6 crore to Rs. 10 crore; and

(b)        the SSI Eligibility limit from Rs. 12 crore to Rs. 15 crore.

29/2016 - Central Excise

Seeks to amend notification No. 17/2011-Central Excise, dated the 1st March, 2011, so as to exclude handicrafts falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of 1986), from the purview of excise duty exemption for handicrafts.


33/2016 - Central Excise (N.T.)

Seeks to notify, for articles of jewellery or parts of articles of jewellery or both, falling under heading 7113 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986),

(a)    for articles of jewellery or parts of articles of jewellery or both (other than those which are   manufactured from the precious metal provided by the retail customer), the first sale value, that is the value at which such articles of jewellery or parts of articles of jewellery or both, are sold for the first time, as the tariff value;

(b)   for articles of jewellery or parts of articles of jewellery or both manufactured from the precious metal provided by the retail customer, the value which is sum of,-

i.        the cost of additional materials used by the manufacturer or principal manufacturer, as the case may be, for making such articles of jewellery;

ii.      the labour charges charged by the manufacturer or principal manufacturer, as the case may be, from the retail customer; and

iii.    the value of precious metal provided by the retail customer,as the tariff value.

34/2016 - Central Excise (N.T.)

Seeks to notify the Articles of Jewellery (Collection of Duty) Rules, 2016, applicable to articles of jewellery or parts of articles of jewellery or both falling under heading 7113 of the Central Excise Tariff Act, 1985 (5 of 1986). These rules, inter-alia, provide manner of payment of Central Excise duty on articles of jewellery or parts of articles of jewellery or both, including an optional scheme for payment of such Excise duty.

35/2016 - Central Excise (N.T.)

Seeks to amend the Central Excise Rules, 2002 in relation to articles of jewellery or parts of articles of jewellery or both, falling under heading 7113 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), so as to:

i.        provide that the quarterly return (ER.8) will also apply to the manufacturers or principal manufacturers of parts of articles of jewellery, falling under heading 7113;

ii.      prescribe that the date of submission of quarterly return, for manufacturers or principal manufacturers of articles of jewellery or parts of articles of jewellery or both, falling under heading 7113, for quarter ending on 31st March, 2016, and quarter ending on 30th June, 2016, shall be the 10th August, 2016; and

iii.    as separate rules are being prescribed for articles of jewellery or parts of articles of jewellery or both falling under heading 7113 of the said Schedule to the said Tariff Act, applicability of Rule 12AA is being restricted to articles of precious metals falling under heading 7114.

36/2016 - Central Excise (N.T.)

Seeks to amend the CENVAT Credit Rules, 2004 in relation to articles of jewellery or parts of articles of jewellery or both, falling under heading 7113 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), so as to include a principal manufacturer of articles of jewellery or parts of articles of jewellery or both as manufacturer for the purposes of the CENVAT Credit Rules, 2004.

37/2016 - Central Excise (N.T.)

Seeks to provide a modified format for quarterly return, ER-8, for return of excisable goods cleared at the Central Excise duty rate of 1% [including articles of jewellery or parts of articles of jewellery or both, falling under heading 7113] or 2%.

38/2016 - Central Excise (N.T.)

Seeks to amend notification No. 35/2001-Central Excise (N.T.) so as to:

(i)            provide that a person engaged in the manufacture of articles of jewellery or parts of articles of jewellery or both, falling under chapter heading 7113 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 198

Compensatory Afforestation Fund Bill, 2016 Passed by Rajya Sabha
Jul 29,2016

Rajya Sabha passed The Compensatory Afforestation Fund Bill, 2016. The Bill had earlier been passed by Lok Sabha in May 2016.

Replying to the discussion on the Bill today, Minister of State (Independent Charge) of Environment, Forest and Climate Change, Shri Anil Madhav Dave, said that it is a good bill and the money is for the country. He said that the Parliamentary process has now been completed.

Shri Dave assured the House that if there are any concerns with the rules on consultation with Gram Sabhas in the Bill, the same will be reviewed after one year.

MPs from various political parties participated in the discussion on the Bill.

Background to Compensatory Afforestation Bill, 2016

The passing of the Bill has ended the long era of ad-hocism and will help the Centre and State Governments to utilise these amounts in a planned manner. It will facilitate make available more than Rs. 6,000 crores per annum to the States/UTs for conservation, protection, improvement and expansion of forest and wildlife resources of the country. Availability of these amounts will not only help the States/UTs and local communities to ensure better management of their forest resources but will also result in creation of more than 15 crores man-days of direct employment. A major part of these amounts will be used to restock and improve quality of degraded forests, which constitutes more than 40 % of the total forest cover of the country. Rules to be framed by the Central Government in consultation with the States/ UTs will provides for use of native species in afforestation activities to be undertaken from these funds. Majority of the employment will be generated in tribal dominated and backward areas of the country. Apart from creation of direct employment, utilisation of these amounts will result in increased availability of timber and various other non-timber forest products, and will thus help in improvement of the overall living standards of the forest dependent communities.

The Bill provides for establishment of a permanent institutional framework at the Central at each State and Union territory to ensure utilization of these funds in an expeditious and transparent manner. The Bill also seeks to transfer these amounts to dedicated, non-lapsable interest bearing funds under public account of the Union of India and each State so as to bring these funds within the overall oversight and control of the Parliament and the State legislatures, without impairing easy availability of these funds to utilise the same for the purpose for which it has been realised. The Bill also seeks to provide for constitution of a multi-disciplinary Monitoring Group to monitor activities undertaken from these funds. The Bill also provides for annual audit of the accounts by the C&AG.

The Bill provides for transfer of 90 % of the accumulated amounts, which presently is of the order of Rs. 40,000 crorers (excluding about Rs. 2000 crorers of interest already accrued on amounts presently being kept as FDs.) to the States for creation and maintenance of compensatory afforestation and execution of other activities for conservation, protection, improvement and expansion of forest and wildlife resources of the country. All fresh amounts to be realised by the States in lieu of forest land to be diverted for non-forest purpose will be deposited directly into the funds to be created under public account of the respective State. State-wise details of funds likely to be made available to each State/UT is enclosed.

The remaining 10 % Amounts to be retained at the National level will be used for monitoring and evaluation of activities to be undertaken by the States/UTs and Central Government from these funds and to provide, research and technical support to the States so as to ensure that these amounts are used in the technically best possible manner.

Central Government while according prior approval under the Forest (Conservation) Act, 1980 for diversion of forest land for non-forest purpose stipulates conditions to the effect that the State Government shall realize funds from the user agency for compensatory afforestation, catchment area treatment plan, wildlife management plan etc. to mitigate impact of diversion of forest land. In most of the States, funds received from the user-agencies were deposited in consolidated fund as revenue receipts which were made available to the Forest Department through budgetary provisions.

The Central Government in exercise of powers conferred under Section 3 (3) of the Environment (Protection) Act, 1986 constituted Compensatory Afforestation Fund Management and Planning Authority (CAMPA). However, the CAMPA could not be operationalized.

In 2008 Central Government formulated the Compensatory Afforestation Fund Bill, 2008. The Bill was passed by the Lok Sabha on 23rd December, 2008. However, the Bill could not be taken up for discussion in Rajya Sabha. On dissolution of the 14th Lok Sabha, the Bill lapsed.

C & AG in his D.O. letter dated March, 4, 2013 requested the then Finance Minister to examine the entire issue of maintaining a fund outside Government Accounting System. The C & AG in his said D.O. letter also suggested to move the Supreme Court for review of its decision with regard to Ad-hoc CAMPA fund so that it can be transferred into Public Account of India.

In compliance of the suggestions of the C&AG, and in exercise of powers conferred under section 3 (3) of the Environment (Protection) Act, 1986, the MoEF formulated a draft CAMPA Order, 2014 for establishment of separate funds under public account of Union of India and each State and constitution of authorities at Union of India and each State for management of these funds and placed the same before the Supreme Court for approval. The approval of the Supreme Court to the draft Order is still awaited.

To ensure safety, security and expeditious & efficient utilization of accumulated funds which are presently managed by the ad-hoc CAMPA, consisting of only three officials and one representative of the CEC, without having any full time regular staff and administrative support; and to ensure harmonization between the original CAMPA notification dated 23rd April 2004 and the State CAMPA Guidelines, as approved by the Supreme Court in July 2007, and also to provide statutory back up to the State CAMPAs, the Central Government introduced the Compensatory Afforestation Fund, Bill, 2015 in Lok Sabha.

On 13th May, 2015 Lok Sabha referred the Bill to the Department Related Parliamentary Standing Committee on Science & Technology, Environment & Forests. The Committee held extensive consultations with the States/UTs and various other stakeholders. The committee submitted its report containing 26 recommendations. The Central Government accepted 20 recommendations. Based on recommendations of the Committee and further examination of the Bill, the Central Government moved 49 official amendments.


Details of Amounts Available with the Ad-hoc CAMPA As on 31.03.2016
(Rupees in Crore)

Sl. No



Total Amount as on 31.03.2016Distribution Between centre and StatePrincipalInterestTotalCentreStateAmt.%

Amount provided for Startups and Innovation Industries
Jul 29,2016

Several Government organisations like Department of Science & Technology (DST), Department of Scientific and Industrial Research (DSIR), Department of Biotechnology (DBT), Department of Electronics and Information Technology (DeiTY), have been supporting startups and innovation industries.

During over last two decades, DST has provided over 250 crores in setting up of specialised institutional mechanisms spread across the country i.e Science and Technology Entrepreneurs Park (STEP) and Technology Business Incubators(TBIs). The STEPs and TBIs are engaged in nurturing startups and since the year 2008, few of them have also been provided support totaling to about Rs.60 crores to implement the seed support system (SSS) for startups in Incubators. DSIR has provided a support of over Rs.225 crores to industries for development and demonstration of innovative technologies, since 1992 and a support of over Rs.25 crores to individual innovators, since 1998. Biotechnology Industry Research Assessments Council (BIRAC) under DBT has provided funding of Rs.677 crores to entrepreneurs, startups, SMEs and translational organisations since 2012. DeiTY under a scheme for Technology Incubation and Development of Entrepreneurs (TIDE), supports 27 TIDE centres up to March 2017 in the area of Electronics & ICT to strengthen the technology incubation centres at the institutions of higher learning. The outlay for each TIDE centre is Rs.55 lakhs for the entire duration. Rs.32.12 crores have been released to TIDE centres till now. The support certainly needs to be scaled up to bring in more and more state-of-the-art and affordable innovations into the market for the benefit of society.

DST has introduced several new schemes namely National Initiative for Developing and Harnessing Innovations (NIDHI), New Generation Innovation and Entrepreneurship Development Centre (NewGen IEDC), Grand Challenges and Competitions for Scouting Innovations (GCC), Promoting and Acclerating Young and Aspiring Innovators and Startups (PRAYAS), Entrepreneur-In-Residence (EIR), Start up NIDHI, Technology Business Incubator (TBI), Seed Support System (SSS), Accelerator, Centers of Excellence (CoE).

The Government over the last two years has taken initiatives to promote innovations, such as announcement of AIM, SETU, Start-up/Stand-up India, IMPRINT, Uchhatar Aavishkar Yojana etc. DSIR on its part has a scheme which provides common research facilities including research, testing and quality control equipment in public funded institutions for the benefit of micro and small enterprises. BIRAC has initiated several flagship programmes such as BIG, SBIRI, BIPP, SPARSH, CRS and BioNEST that bridge the gap in the biotechnology innovation pipeline. In addition to this, Department of Industrial Policy & Promotion has initiated a start-up fund of Rs. 10,000 crores.

During 2016-17, DSIR has provided an amount of Rs 27 crore, DeiTY has provided Rs 3 crores and the budget of BIRAC is Rs 120 crores for the startup and innovation industries. DST has also earmarked a budget of Rs 180 crores to promote innovation and enterpreneurship.

The Government has identified 10 themes under the IMPRINT scheme to promote innovations and DSIR has been identified to pursue innovations in the areas of manufacturing technology and water resources. BIRAC has identified the areas of Biopharma including vaccines, bio-agriculture, bio-industrial and bio-informatics for building the national biotechnology capabilities and has initiated several new awards to promote innovations such as SITARE (BIRAC-SRISTI GYTI Awards), BIRAC Hackathons, BIRAC Technology Day Award and BIRAC Innovator Awards. Under the existing scheme of National Manufacturing Competitiveness Programme (NMCP) of MSME, there is a component namely, Support for Entrepreneurial & Managerial Development of Small & Micro Enterprises through Incubators. Financial assistance (up to Rs.6.25 lakh per idea subject to a maximum of 10 ideas in each financial year) is given to the innovators for incubating innovative ideas that can be converted into business activities through Host Institutes i.e. engineering colleges, IITs, NITs, etc. in this scheme.

MSME gives National Award annually to Micro, Small and Medium Enterprises to promote innovations. Six awards, comprising three awards (first, second & third) to Micro & Small enterprises and three awards (first, second & third) to Medium enterprises are given. The first, second and third award carries a cash prize of Rs.3 lakhs, 2 lakh & Rs.1.5 lakh respectively including a trophy and certificate.

Powered by Capital Market - Live News

Energy and Water Conservation Measures at Airports
Jul 29,2016

Airports Authority of India (AAI) has taken measures to generate solar energy for airports. AAI has signed MoU with SECI and completed 6.8 MWp roof top solar projects at 16 different airports/ units across India. AAI further awarded another 2.9 MWp solar roof top plants & 19.8 MWp solar ground mounted works at 14 airports.

Energy audit has been conducted at 42 airports in the year 2015-16 and 14 more airports are being taken up for energy audit in the year 2016-17. 15 airports were identified and taken up for replacement of conventional lights with energy efficient LED lights during the year 2015-16 and water conservation measures have been taken at 37 airports.

Solar Power Plants: Solar power plants have been installed at 15 airports and also in the Rajiv Gandhi Bhawan at Safdarjung Airport. The 16 solar projects completed have a total energy generation capacity of 6800 KWp. Further 14 solar power projects with a capacity of 22700 KWp have been taken up. The solar power project of Ranchi Airport has already been commissioned with a capacity of 250 KWp. Airports Authority of India (AAI) has already initiated action for installation of Ground Mounted Solar Power Plants at available land at Kolkata (15000 KWp), Jaipur (1800 KWp) and Chandigarh (3000 KWp) airports.

Recycled water is used for horticulture/firefighting/air-conditioning at 30 airports.


AAI is following GRIHA (Green Rating for Integrated Habitat Assessment) system for sustainable and environment friendly design. All the new buildings are constructed as per the ECBC (Energy Conservation Building Code) norms and obtain 4 star GRIHA rating. New Terminal Building at Chandigarh Airport has already obtained 4 star GRIHA rating.

Powered by Capital Market - Live News

OPEN SKY POLICY Agreement with SAARC Countries
Jul 29,2016

As per National Civil Aviation Policy 2016, Government has planned to enter into an Open Sky Air Service Agreement on a reciprocal basis with SAARC countries and countries with territory located entirely beyond a 5000 km radius from New Delhi. Unlimited flights above the existing bilateral rights will be allowed directly to and from major airports within the country as notified by the Government time to time. However, the points of call at other airports under the existing Air Service Agreement will continue to be honoured till the same are renegotiated.

Powered by Capital Market - Live News

33029.39 MU Wind Power & 7447.92 MU Solar Power Generated During 2015-16
Jul 28,2016

Shri Piyush Goyal, Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines informed that as per information received from the Central Electricity Authority (CEA), the quantum of electricity generated during 2015-16 through Wind and Solar sources was 33029.39 MU and 7447.92 MU respectively. He further said that during last two years i.e. 2014-15 and 2015-16, a total capacity of 5735 MW and 4131 MW have been installed for wind and solar energy respectively.

The Minister also told that a capacity addition target of 4000 MW and 12000 MW has been proposed for generation of electricity by wind and solar respectively during 2016-17 and a total of 315 MW have been installed under Solar Roof top Scheme. Power generated from these projects is being used for both domestic and captive use.

Shri Piyush Goyal stated tenders for 20766 MW Solar Power projects have been issued. He also said that the wind power projects are mainly developed by private sector under various modes including PPA, REC, captive use, third party sale etc. No Union Government project is under construction in wind energy sector.

Shri Goyal also mentioned that Ministry is implementing several schemes to promote generation of solar and wind energy. These are Scheme for Development of Solar Parks and Ultra Mega Solar Power Projects, scheme for Development of Solar PV Power Plants on Canal Banks/ Canal Tops, scheme for setting up 300 MW of Grid connected Solar PV Power Projects by Defence Establishments under Ministry of Defense and Para Military Forces with Viability Gap Funding (VGF) under Batch-IV of Phase-II/III of JNNSM. (Jawharlal Nehru National Solar Mission), scheme of setting up 1000 MW of Grid- Connected Solar PV Power Projects by CPSUs with VGF under Batch-V of Phase-II of JNNSM, scheme for Setting up of 15000 MW of Grid connected Solar PV Power Projects under Batch II of Phase II of National Solar Mission (by NTPC/NVVN), (Setting up of 2000 MW Grid connected solar power with VGF through Solar Energy Corporation of India (SECI), generation based incentive scheme for promotion of wind power.

Powered by Capital Market - Live News