TRACKPAD

India getting polarised between growth seekers and obstructers: FM

While expressing his displeasure about the frequent disruptions by the opposition parties, especially by the Congress in the recently concluded parliamentary session, Jaitley said that India is getting increasingly polarised between those who want to grow and those who want to obstruct. The FM was recently addressing the 2nd edition of SBI’s ‘Banking & Economic Conclave’ in Mumbai. The conclave focused on long-term planning. The FM cautioned that this type of politics can cause damage to the economic growth of the country.

Blaming Congress over the crucial GST Bill, he pointed out that the GST was envisaged by the Congress in 2006, introduced in 2011, most of the States supported it, and in 2015 the same Bill was opposed by the Congress for no reason. He said that lowering of oil and commodity prices has created an environment for growth in our country and we should tap this opportunity. Minister of State for Finance Jayant Sinha said that micro-economic indicators were negative previously but the situation is now stabilising due to the able leadership of Prime Minister Narendra Modi so that a growth rate of 9 to 10 per cent can be achieved over the next two years.

Steel Minister inaugurates steel unit in Gwalior

Minister of Steel and Mines Narendra Singh Tomar inaugurated a steel processing unit established under Public Private Partnership (PPP) between SAIL and Prime Gold. The unit has been set up in Billowa in Gwalior district of Madhya Pradesh under a joint venture. Prime Gold has 74 per cent and SAIL has 26 per cent stake in this unit, which will produce one lakh tons of TMT steel. Up to 60,000 tons of billets will be supplied from SAIL plants to this unit annually.

While inaugurating the unit, Tomar said, “With the establishment of this steel processing unit, many employment opportunities will be generated and a number of development avenues will open up for the local population. The establishment of this steel unit is a novel initiative by the steel ministry for turning the Make in India vision into a reality.” SAIL will market the TMT steel produced from this unit through its widespread marketing network and shall pay conversion charges on a per ton basis to its JV partner.

MoU between NTPC and NCCBM

NTPC and the National Council for Cement & Building Materials (NCCBM), Ballabgarh signed a Memorandum of Understanding (MoU) for condition assessment of civil structures in NTPC’s power projects and stations spread across different parts of the country. Importantly, NTPC has an installed capacity of 45,548 MW through 18 coal-based, seven gas-based, eight solar renewable, one hydro and seven joint venture power stations. The MOU was signed by R K Srivastava, ED (NETRA) NTPC Ltd. and V V Arora, Joint Director & Head, NCCBM in the presence of A K Jha, Director (Tech) NTPC Ltd. and A Pahuja, Director General, NCCBM.