For governing and auctioning of coal reserves and shale gas acreages in the future, the Union government has given its approval to bring in new allocation policies. This was decided by the Cabinet Committee on Economic Affairs (CCEA) on September 24. The CCEA approved a Coal Ministry's proposal for competitive bidding of blocks under production-linked revenue-sharing method and a Petroleum Ministry proposal for allocation of shale gas reserves on nomination basis.
Tag: Cabinet Committee on Economic Affairs
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New auction policy okayed for coal, shale gas
For governing and auctioning of coal reserves and shale gas acreages in the future, the Union government has given its approval to bring in new allocation policies. This was decided by the Cabinet Committee on Economic Affairs (CCEA) on September 24. The CCEA approved a Coal Ministry's proposal for competitive bidding of blocks under production-linked revenue-sharing method and a Petroleum Ministry proposal for allocation of shale gas reserves on nomination basis.
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CCEA clears new definition of control under FDI policy
The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Industrial Policy & Promotion for amendment to the existing definition of "control" under the FDI policy. The revised definition will be as follows: Until now, the definition of "control", in the extant FDI policy is as under: "A company is considered as "controlled" by resident Indian citizens if the resident India
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Disinvestment of 10% govt’s equity in IOC okayed
Disinvestment of 10 per cent paid-up equity in the Indian Oil Corporation (IOCL) has been approved by the Cabinet Committee on Economic Affairs, as per the government's disinvestment policy. The disinvestment will be through Offer for Sale (OFS) method in the domestic market according to the SEBI rules and regulations. After this disinvestment, the government shareholding in the company would come down to 68.92 per cent, after deducting the 10 per cent in the present equity capital holding of
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CCEA to decide on clearing bidding norms for UMPPs
The cabinet committee on economic affairs (CCEA) would soon decide on clearing the standard bidding documents for new ultra mega power projects (UMPPs) in order to expedite the implementation of such projects.
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New definition of control
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of the Department of Industrial Policy & Promotion for amendment to the existing definition of "control" under the FDI policy.
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IOC disinvestment
Disinvestment of 10 per cent paid-up equity in the Indian Oil Corporation (IOCL) has been approved by the Cabinet Committee on Economic Affairs, as per the government's disinvestment policy.
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Cabinet clears Rs 10 bn outlay for industrial infra projects
The Cabinet Committee on Economic Affairs approved the Modified Industrial Infrastructure Upgradation Scheme (MIIUS) with an approved outlay of Rs 1,030 crore for the 12th Five Year Plan period. The outlay consists of Rs 450 crore for committed liability and the remaining Rs 580 crore for taking up 14 to 16 new projects including a minimum 2 projects in the N
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Vedanta Group chief welcomes gas price hike
Anil Agarwal, Chairman of Vedanta Group told a leading media that the government's decision to hike the price of domestic natural gas would boost growth the sector. On June 27, the Cabinet Committee on Economic Affairs cleared the pricing of all domestic gas through Rangarajan formula from April 1, 2014. The price of gas as per the formula is likely to be about $8.4 per million British thermal unit as opposed to $4.2 currently
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Industry players welcome price revision
Finance Minister P Chidambaram expressed hope that the government's move to raise natural gas price would encourage investment and production in the natural gas sector. Recently, the Cabinet Committee on Economic Affairs (CCEA) almost doubled natural gas prices to $8.4 per million British thermal unit (mBtu) with effect from April 2014 and applicable for the next five years with a price