Citizens' Issues
'India to change one billion light points with LED bulbs'
Around one billion light/bulb points would be converted into energy efficient LED bulb points in three year's time in India, a top official of Bureau of Energy Efficiency said here on Wednesday.
 
Queried about the outcome of the Clean Energy Ministerial held in Mexico in May, its director general Ajay Mathur said 23 countries that attended the ministerial agreed to work towards changing 10 billion light points to energy efficient bulbs.
 
According to Mathur, India has decided to have one billion light points with energy efficient LED bulbs in three years time.
 
Mathur was here to inaugurate the psychrometric lab set up by Danish group Danfoss.
 
He said the high number would make manufacturers of LED bulbs increase their capacity and production which in turn would bring down the final prices.
 
In addition, there will be export opportunities for the Indian LED bulb makers, Mathur said.
 
Queried about the proposed venture capital fund by Bureau of Energy Efficiency, he said the fund would be operational in a month's time.
 
He said no project has been given the fund sanction out of the Rs.75 crore corpus. 
 
Mathur said the central government is also expected to contribute towards the corpus.

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37 percent rise in indirect tax collection in April-June: Jaitley
India's indirect tax receipts grew 37 percent in the first quarter, ended June, over the like period of last year, Finance Minister Arun Jaitley told parliament on Wednesday.
 
"Indirect taxes in the first quarter (April-June) have risen by a phenomenal 37 percent," Jaitley said while requesting the Lok sabha to pass the government's demands for supplementary grants.
 
The situation had created a "revenue buoyancy" permitting more capital expenditure and investment in infrastructure, the minister said.
 
"The first quarter capital expenditure increased by 17.6 percent. Because of our revenue measures, we have been able to allocate an additional Rs.70,000 crore this year for investment in infrastructure," Jaitley said.
 
The indirect tax revenues grew 37.5 percent to nearly Rs.154,000 crore in the first quarter of the current fiscal on the back of a significant rise in excise collections.
 
The collections on this count in the year-ago period were Rs.112,000 crore, the finance ministry said last month.
 
The first quarter indirect tax collection figures appear to give some indication of "green shoots" of economic revival, Jaitley added.

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COMMENTS

Chandragupta Acharya

2 years ago

A big reason behind this has to be improved compliance under present government. All these were leakages under UPA rule which are now getting plugged.

Nifty, Sensex upmove may continue– Wednesday closing report
Nifty will remain in an uptrend as long as it closes above 8500
 
We had mentioned in Tuesday’s closing report that the move on NSE’s CNX Nifty looks weak and close below 8,450 will pull the market down sharply. For the entire session Wednesday, the 50-stock benchmark remained above previous day’s close albeit moving in a narrow range.
 
 
India VIX fell 1.11% to close at 14.6650. NSE recorded a volume of 129.53 crore shares.
 
The S&P BSE Sensex closed over 150 points up during the day's trade. The 30-stock benchmark, which opened at 28,138.04 points, closed at 28,223.08 points, up 151.15 points or 0.54% from the previous day's close at 28,071.93 points. The wider 50-scrip Nifty also closed in the green -- 51 points or 0.60% up at 8,567.95 points.
 
According to analysts, bargain hunting was observed in the market after Tuesday's fall. RBI's announcements of changing the cap on bond investment limit from being dollar-linked to rupee-denominated, segregation of the bond market and its engagements with the government over the new financial code also boosted the markets, they said.
 
Sector wise, healthy buying was observed in healthcare, automobile, information technology (IT), fast moving consumer goods (FMCG) and capital goods sectors. However, the banking, consumer durables and metal sectors came under selling pressure.
 
The S&P BSE healthcare index zoomed by 265.67 points, automobile index soared by 200.96 points, IT index rose 194.36 points, FMCG index gained 114.31 points and capital goods index was up 98.30 points.
 
However, the S&P BSE bank index receded by 71.11 points, consumer durables index eged-lower by 3.84 points and metal index slipped 3.14 points.
 
Major Sensex gainers during Wednesday's trade were Wipro, up 2.94% at Rs.574.60; Infosys, up 2.52% at Rs.1,086.55; Bajaj Auto, up 2.36% at Rs.2,569.70; Tata Steel, up 2.28% at Rs.262.25; and Lupin, up 2.08% at Rs.1,678.
 
The major Sensex losers were: Tata Motors, down 1.10% at Rs.376.75; Coal India, down 1.08% at Rs.438.05, State Bank of India (SBI), down 0.99% at Rs.285.35; ICICI Bank, down 0.96% at Rs.311.10; and Hindalco Inds, down 0.91% at Rs.108.30.
 
The top gainers and losers in the major indices are given in the table below:
 
 
Among the Asian indices, Shanghai Composite was the only loser which fell 1.65%. Jakarta Composite (1.45%) was the top gainer. Japan's Nikkei was up 0.46% and Hong Kong's Hang Seng rose by 0.44%. 
 
In Europe, the London FTSE 100 index was up by 0.37%. Germany's DAX Index and French CAC 40 gained 1.29% each at the closing bell in India.
 

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