• Despite widespread expectations of another increase, global energy-related carbon dioxide emissions stopped growing in 2019, the International Energy Agency (IEA) said.
    The US recorded the largest emissions decline on a country basis, with a fall of 140 million tonnes, or 2.9%.
  • Iron ore auctions are set to raise the cost of mining in eastern India, with premiums ranging between 90% and 135% for the seven mines bid for in Odisha till date. This is likely to erode margins of non-integrated steel players who do not have captive ore, said a new report by ICICI Securities.
  • JSW Steel which has been more aggressive in the auctions than the likes of Tata Steel and Arcelor-Mittal and has bagged four mines, is expected to be better off after the upcoming auction. It also said that the difference between domestic and imported ore prices will come down after the auction.
  • Finance Minister Nirmala Sitharaman on February 10, 2020 met industry representatives on the proposed direct tax dispute resolution scheme that provides opportunity to taxpayers to pay outstanding taxes and get waiver of interest and penalty.
  • With over ₹9 lakh crore worth direct taxes locked up in litigation, the government introduced ‘Direct Tax Vivad se Vishwas Bill, 2020’ in the Lok Sabha. Once passed by Parliament, the scheme would be notified and rules would be framed.
  • State governments are unlikely to get the full compensation promised for shortfall in goods and services tax (GST) collection as the finance ministry says the amount will be given only through money collected from the cess imposed for this purpose.
  • A key ministry official said states should agree to hike GST or cess rates in the Council meeting, the date for which is yet to be fixed.
  • Ministry of Shipping intends to revise the existing Model Concession Agreement (MCA). This initiative is being taken to align the provisions of MCA with the best practices to attract more PPP investors in the port sector, a public circular issued by the ministry said. Ideas/suggestions for revising/amending the MCA are to be submitted to the ministry by February 28, the circular said.
  • Mr Anil Kumar Chaudhary, Chairman, SAIL said that Steel Authority of India Ltd (SAIL) will not close down three of its loss-making speciality steel plants if the company does not find buyers for these units. Earlier, the Centre had approved outright sale of Alloy Steels Plant (ASP) in West Bengal, Salem Steel Plant (SSP) in Tamil Nadu and Visvesvaraya Iron and Steel Plant (VISP) in Karnakata.