Companies & Sectors
BHEL to set up new manufacturing facility in Maharashtra

BHEL is planning a 90,000 tonne capacity production facility of seamless tubes products at Bhandara in Maharashtra

Tiruchirapalli: State-run engineering company BHEL is planning to set up a new manufacturing facility in Maharashtra for which it would invest Rs159 crore, reports PTI quoting a top company official.

 

BHEL Tiruchirapalli Complex Executive Director AV Krishnan said BHEL, which has a special focus on power plant equipment, plans a 90,000 tonne capacity production facility of seamless tubes products at Bhandara in Maharashtra.

 

Though it is in the initial stage, pending land acquisition, BHEL has decided to invest Rs159 crore to augment tubular products available in the western region, where requirement is high, he told PTI.

 

Krishnan said given the transportation bottlenecks all over the country, the location of the new plant has been chosen near Nagpur due to its easy access to major steel plants like Bhilai and Rourkela.

 

He expressed hope that things would fortify for the actual blueprint by next month. Production is expected to crystallise in the next two to three years, Krishnan said.

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CAG: Private companies gain Rs1.86 lakh crore by getting coal blocks on nomination

The CAG report, tabled in Parliament, names 25 companies including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power which have got the blocks in various states

New Delhi: The Comptroller and Auditor General (CAG) on Friday said private companies are likely to gain Rs1.86 lakh crore from coal blocks that were allocated to them on nomination basis instead of competitive bidding, which amounted to the loss to national exchequer, reports PTI.

 

The CAG in its report, tabled in Parliament, names 25 companies including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power which have got the blocks in various states.

 

"Delay in introduction of the process of competitive bidding has rendered the existing process beneficial to the private companies. Audit has estimated financial gains to the tune of Rs 1.86 lakh crore likely to accrue to private coal block allottees," CAG said in a report on allocation of coal blocks.

 

The CAG said it has arrived at the estimates based on the average cost of production and average sale price of opencast mines of Coal India in the year 2010-11.

 

"A part of this financial gain could have accrued to the national exchequer by operationalising the decision taken years earlier to introduce competitive bidding for allocation of coal blocks," CAG said.

 

The auditing body said it is "of strong opinion that there is a need for strict regulatory and monitoring mechanism to ensure that benefit of cheaper coal is passed on consumers".

 

The concept of allocation of captive coal blocks through competitive bidding was announced in 2004. However, government is yet to finalise the modus operandi of competitive bidding.

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Government gives nod to bill on street vendors

The bill will also help the authorities to regulate hawking activities in public areas such as pavements and roads

New Delhi: A bill which seeks to protect street vendors against harassment and regulate their activities in public areas on Friday received the nod from the Indian government, reports PTI.

 

A meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh cleared the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Bill.

 

The Ministry of Housing and Urban Poverty Alleviation is likely to introduce the bill in the ongoing Monsoon session of Parliament.

 

Under the bill, anyone over 18 years can register as a street vendor by making a one-time fee.

 

Once registered with local authorities, vendors will be provided with identity cards which will allow them to sell their products in vending zones allocated to them.

 

The bill will also help the authorities to regulate hawking activities in public areas such as pavements and roads.

 

The measure also provides for setting up of vending zones for hawkers to sell their products with minimal restrictions and without fear of being fined by municipal authorities for vending in unauthorised areas.

 

Sonia Gandhi-led National Advisory Council (NAC) had recently batted for a central legislation, saying the model bill prepared by the ministry limits the Centre's responsibility.

 

The bill approved on Friday includes the recommendations of the NAC.

 

"A central law will prevail over all state municipal laws to the extent that they are inconsistent with the law for street vendors. Hence the states will not be required to amend municipal and police laws," the Council had said.

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