Shivraj Singh Chouhan, Taliban minister discuss agricultural ties (See 'Corp Brief') Union Ministry Launches Integrated Training for Primary Healthcare Teams (See 'Corp Brief') Advancing Women's Leadership at Grassroots, held as part of BRICS Women Ministerial Meeting in Kochi (See 'Corp Brief') SARFAESI - Borrowers who fail to timely invoke MSME framework are precluded from seeking its protection at belated stage after SARFAESI proceedings have commenced: HC (See 'Legal Desk') Bhubaneswar Declaration charts roadmap to transform Tribal Research Institutes into centres of excellence (See 'Corp Brief') TEC signs MoU with BECIL to strengthen Telecom and Broadcasting Ecosystem (See 'Corp Brief') NLDSL and Punjab sign MoU to strengthen Digital Logistics Ecosystem (See 'Corp Brief') Competition Act - OP entered into anti-competitive agreements & abused its dominant position by imposing unfair & restrictive conditions on participants in its beauty pageant, in contravention of Sections 3 & 4 - D-G to probe matter: CCI (See 'Legal Desk') Kamarajar Port becomes India's Second Major Port with 18-Metre Draft Capability (See 'Corp Brief') Large-Scale Infrastructure Expansion opens up Opportunities for Budding Engineers (See 'Corp Brief') CCI okays merger of 51 Malabar Group's companies into Malabar Gold and Diamonds Ltd (See 'Corp Brief') IBC - Delayed creation of security cannot be treated as transaction in normal course of business: NCLAT (See 'Legal Desk') CCI approves acquisition of equity in Sorting Hat Technologies and merger into upGrad Education (See 'Corp Brief') Atal Innovation Mission Strengthens Eastern India Innovation Ecosystem (See 'Corp Brief') Giriraj Singh to inaugurate 'Indie Haat 2026' (See 'Corp Brief') IBC - Rent Tribunal lacks jurisdiction in cases involving entities undergoing CIRP, per Sections 60(5)(c) & 238 of IBC, which confer exclusive jurisdiction upon the Adjudicating Authority in CIRP matters: NCLT (See 'Legal Desk') Labour Ministry translates objectives of Labour Codes to provide timely relief to workers (See 'Corp Brief') Trade Marks - Mark KREOFLAT is distinctively similar to existing mark of PANKREOFLAT where former copies essential & distinctive features of latter, thereby making the former visually, phonetically & deceptively similar: HC (See 'Legal Desk') CAQM reports 62 air pollution violations across NCR in 17 days; proposes closure of four units (See 'Corp Brief') Utsav & Chintan Shivir 2026 to focus on institutional reforms for a technology-driven, and citizen-centric legal ecosystem (See 'Corp Brief') Sukesh Chandrashekhar con saga - co-accused gets bail - stringent conditions of Section 45 of PMLA can be relaxed for women, more so considering extraordinary circumstances: HC (See 'Legal Desk') Govt raises onion procurement price by 13% to Rs.2,125 per quintal (See 'Corp Brief') India's last 12 years have been a progression from shortages to building Viksit Bharat: RM (See 'Corp Brief') SARFAESI - Writ jurisdiction under Article 226 should ordinarily not be exercised where efficacious alternative remedy exists, particularly in matters arising under the SARFAESI Act: HC (See 'Legal Desk') India's youth will power AI, robotics with Made in India chips: PM (See 'Corp Brief') Competition Act - Allegations relating to use of private vehicles without commercial permits, non-compliance with Motor Vehicles Act, opaque GST & STA tax practices, & related issues fall outside scope of Competition Act: CCI (See 'Legal Desk') Tech Innovation and disruption in Construction Industry (See 'CORP EINSICHT')

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.