Seeking to improve ease of doing business in SEZs, the Commerce Ministry has permitted units in these zones to send goods for purposes such as repair and maintenance to outside market or abroad on a selfattestation basis.
Author: admin (Infratructure Today)
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Norms for SEZs finance
Paving the way for the country´s first finance SEZ, the Gujarat International Finance Tec-City (GIFT), to commence operations, Finance Minister Arun Jaitley at a function recently unveiled the composite regulatory framework for financial- sector
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Setting up of green energy projects
In order to provide low cost finance to renewable energy projects, Government announced its commitment in the Budget for 2013-14 to provide funds from the NCEF to Indian Renewable Energy Development Agency (IREDA) to on-lend to viable renewable energy projects.
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NHAI to issue tax free infrastructure bonds
Government has allowed National Highways Authority of India (NHAI) to issue Tax Free Infrastructure Bonds aggregating to Rs 24,000 crore and Capital Gain Tax Exemption Bonds aggregating to Rs 4,000 crore in the financial year 2015-16.
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Centre initiatives for ship repair industry
Government has taken steps to promote ship repair industry in India which include:
Service tax exemption granted by the Central Government for repair of foreign going vessels by Indian shipyards to reduce operational costs of ship repair units
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Govt moves for execution of National Waterway Project
An office has been opened in Bhubaneswar for the development of National Waterway No 5, in March, 2015 which will coordinate with all the stakeholders, including the State Government.
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Vessel sharing pacts exempted from CCI purview
The Ministry of Corporate Affairs vide notification dated 05.02.2015 has exempted the Vessel Sharing Agreements of Liner Shipping Industry from the provision of Section 3 of the Competition Act, 2002 for a period of one year from the date of publication of notification in the official gazette, in public interest.
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Grant infra status to shipbuilding sector
The Shipping Ministry has sought infrastructure status for the shipbuilding industry so as to provide impetus boost to the sector, Union Minister Nitin Gadkari
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Govt´s steps to boost shipping industry
In order to boost the shipping sector, the Union Government has taken several initiatives, such as facilitating the development of new ports
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Govt´s incentives for coastal shipping
Shipping Ministry released detailed guidelines for implementing a financial scheme to incentivise shifting some portion of the cargo now carried by rail