Scaling Impactful AI Use Cases critical for India to become 'Use-Case Capital' (See 'Corp Brief') Joshi visits Exhibition on AI-Driven Transformation of Public Distribution System (See 'Corp Brief') Responsible and Equitable Scaling of AI in Classrooms emerges as Key Priority (See 'Corp Brief') IBC - Resolution Professional is obligated to ensure that resolution plan complies with all provisions of law, and he cannot escape liability by claiming lack of available data: HC (See 'Legal Desk') Power Minister inaugurates Pavilion at AI Impact Summit 2026 (See 'Corp Brief') CCI approves proposed Merger of Hinduja Leyland Finance into NDL Ventures (See 'Corp Brief') IICA renews MoU with NALSAR to strengthen Academic Collaboration (See 'Corp Brief') Trade Marks - Section 35 permits bona fide use of one's own name or that of a predecessor in business, even if such use may otherwise amount to infringement under Section 29(5): HC (See 'Legal Desk') CCI approves acquisition of portfolio services of Axis Securities by Axis Asset Management (See 'Corp Brief') Finland-India Synergy can provide strong foundation for co-innovation: Finnish PM (See 'Corp Brief') Chouhan calls for Direct Farmer Feedback to strengthen Scheme Effectiveness (See 'Corp Brief') Trade Marks - Mere knowledge of respondents' registered trade mark or speculative potential for confusion in tenders cannot negate bona fide adoption where trade name is derived from the predecessor's own surname: HC (See 'Legal Desk') AI Compendia to serve as Guidebooks for Global South: Govt (See 'Corp Brief') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (See CORP EINSICHT) AI is meant to augment, Not replace Clinicians: MoS (See 'Corp Brief') IBC - In real estate projects, single insolvency petition is maintainable against more than one corporate entity if they are intrinsically connected in execution and marketing of project: SC (See 'Legal Desk') Chouhan launches artificial intelligence-based scheme 'Bharat VISTAAR' Phase 1 in Rajasthan (See 'Corp Brief') PMLA - If Enforcement Directorate establishes connection between alleged predicate offences and accumulation or layering of assets, Adjudicating Authority's confirmation of provisional attachment may be upheld: SAFEMA (See 'Legal Desk') NHAI to develop First of its Kind 'Bee Corridors' along National Highways (See 'Corp Brief') AI to power India's global knowledge leadership, key to Viksit Bharat 2047: Pradhan (See 'Corp Brief') PMLA - If under-construction property was purchased using funds routed through shell entities, and neither shares are allotted nor executed any loan agreement, such transaction was benami transaction: SAFEMA (See 'Legal Desk') AI and Data Centres are one of Defining Energy Challenges of Our Time (See 'Corp Brief') Robust and High-Quality Data key to Advanced AI Deployment in Banking and Finance (See 'Corp Brief') SEBI - Noticee is prohibited from taking up any new clients as stock broker: SEBI (See 'Legal Desk') India AI Impact Summit 2026 showcases Women-led AI for Public Good (See 'Corp Brief') IBC - Spectrum allocated to Telecom Service Providers cannot be subjected to proceedings under Insolvency and Bankruptcy Code: SC (See 'Legal Desk') Misc - Delay in filing appeal u/s 74 of Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 can be condoned u/s 5 of Limitation Act: SC (See 'Legal Desk') A&C - Section 29A does not impose any statutory bar on courts extending mandate after arbitral award has been delivered: SC (See 'Legal Desk') A&C - Parties cannot be compelled to arbitrate when very existence of contract containing arbitration clause was alleged to be fake: SC (See 'Legal Desk') NI Act - Person who is in charge of affairs of conduct of company is vicariously liable for offence u/s 138 of NI Act when cheque issued by company gets dishonoured: SC (See 'Legal Desk') A&C - Court exercising appellate jurisdiction u/s 37 cannot substitute its own assessment of compensation once Sec 34 court has fixed reasonable award within terms of contract: SC (See 'Legal Desk') A&C - Different interpretation of contract by in itself is no ground to interfere with arbitral award: SC (See 'Legal Desk') A&C - Non-issuance of a Sec 21 notice by one party is not fatal to raising claims before arbitral tribunal if disputes are otherwise covered by broadly worded arbitration clause: SC (See 'Legal Desk')

Print

6 new urea units have been set up under New Investment Policy: MoS

Published: Dec 11, 2024

By TIOLCorplaws News Service

NEW DELHI, DEC 11, 2024: THE recommendations of the Standing Committee on Chemicals and Fertilizers regarding reduction of GST on micronutrients and raw materials was taken to 53rd GST Council which has referred the matter to the Group of Ministers (GoM) on Rate Rationalisation for a holistic view.

Under New Investment Policy (NIP), to facilitate fresh investment in the urea sector and to make India self-sufficient, 6 new urea units have been set up with a production capacity of 12.7 Lakh MT each. Further, an exclusive policy for the revival of the Talcher unit of FCIL through JVC of nominated PSUs namely Talcher Fertilizers Limited (TFL) by setting up a new Greenfield urea plant of 12.7 LMTPA at coal gasification route has also been approved. In addition, the Government also notified the New Urea Policy (NUP) - 2015 on 25th May, 2015 for the existing 25 gas-based urea units with one of the objectives of maximizing indigenous urea production. These steps together have facilitated an increase of Urea production from a level of 225 LMT per annum during 2014-15 to a record Urea Production at 314.09 LMT during 2023-24.

In case of Phosphatic & Potassic fertilizers (P&K), the companies are free to import /produce fertilizer raw materials, intermediaries and finished fertilizers as per their business dynamics. Based on the requests, the new manufacturing units or increase in manufacturing capacity of existing units have been recognized / taken on record under the NBS subsidy scheme, with a view to boost manufacturing and make country self-reliant in fertilizer production. Further, to promote Potash derived from Molasses (PDM) which is 100% indigenously manufactured fertilizer, it has been notified under Nutrient based subsidy (NBS) regime w.e.f 13.10.2021. Also, freight Subsidy on SSP, which is an indigenously manufactured fertilizer, has been made applicable since Kharif 2022 to help in promotion of SSP usage for providing Phosphatic or “P” nutrient to the soil. These steps have facilitated increase in production of P&K fertilizers from 159.54 LMT in 2014-15 to 182.85 LMT in 2023-24.

This information was given by the Union Minister of State for Chemicals and Fertilizers Anupriya Patel in Rajya Sabha in a written reply to a question yesterday.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.