The government has made it compulsory for importers to register themselves with Steel
Import Monitoring System (SIMS) to be able to import two hundred odd iron and steel
products including certain flat-rolled products; some stranded wire, ropes, cables;
certain items of springs and leaves for springs of iron and steel; tubes, pipes and
hollow profiles; diesel-electric locomotives; and some parts of railways.
The Directorate General of Foreign Trade (DGFT), under the commerce and industry
ministry has said that “import policy” for these 215 items “has been revised from ‘free’
to ‘free’ subject to compulsory registration under SIMS”. The importer will have to enter
the registration number and expiry date of registration in the bill of entry to enable
customs to clear consignment. The online registration will be available from September
16 this year.
SIMS, which collects and publishes data of steel mill product imports, will require
importers to submit advance information in an online system for import of these items
and obtain an automatic registration number by paying specified amount of fee. It will
also protect the domestic industry and help in taking anti-dumping actions,” the official
The Centre has got into a mission rethink mode to speed up the implementation of
projects under the Smart City Mission.
In the fifth and final year of ‘Smart City Mission’, the Centre has set a new target
Mission Rs 2 lakh crore. With the current trajectory of project tendering and completion,
the government would have awarded contracts till 2022.
As the mission would complete five years on June 25, 2020, the Rs 2 -lakh-crore target
would involve completely turning around the mission. A senior official said, this batch
has got the maximum time under the mission about 3.6 years. Now, keeping a close
track of how these cities are faring.
The ministry has created a live dashboard, housed in the National Urban Observatory
in Nirman Bhawan. This would help keep track of live updates from the smart cities’
progress. The ministry has also decided to hold regional conferences to involve
startups and use their innovation.
The government is in the process of rolling out a new tariff policy and UDAY 2.0 to
address the issue of losses of discoms, which is the “only difficulty” in ensuring round
the clock electricity supply for all, Power Minister R K Singh said.
According to the PRAAPTI portal, the total outstanding of the discoms to gencos as of July this year stood at Rs 73,425 crore, including the overdue amount of Rs 55,276
crore. The dues to discoms become overdue after 60 days of non-payment of the bill,
allowing gencos charge penal interest on that.
“There is a capacity to transfer (supply) any quantum (of power). No reason why 24X7
power cannot be given. The only difficulty in this (24X7 power for All) is losses to some
distribution utilities. They don’t have money to pay for power,” Singh said.
Union Minister for Power and New and Renewable Energy R K Singh has asked the
Andhra Pradesh government to clear dues of power projects at the earliest fearing loan
default and burgeoning stress in the renewable energy sector.
In a latest letter to Andhra Pradesh Chief Minister Y S R Jagan Mohan Reddy, Singh
said the delayed payment by the state could land its own power distribution companies
(discoms) in the soup. “Due to non-payment of dues, it is likely that many of the
renewable power producers would default in making payment to the Indian Renewable
Energy Development Agency and other financial institutions. Any default would make
them non-performing assets.” There is also a danger of renewable power producers
approaching the National Company Law Tribunal against the discoms,” said the letter.
The Union road transport and highways ministry will soon start the process of forming
an infrastructure investment trust (InvIT) under the aegis of the National
Highways Authority of India (NHAI) for some projects. As a first step, the NHAI will
choose highways with high-traffic volumes, in 3-4 bunches, and place them under
special purpose vehicles (SPVs) or trusts. The ministry will seek Cabinet clearance for
floating the InvIT.
Union Minister of Road Transport and Highways Nitin Gadkari said the NHAI was
working on setting up an InvIT to monetise its projects for mobilising resources through
capital markets. Investors will put in equity in them in the way shares of a company are
On Thursday (September 5, 2019), the Indian rupee has extended gains by 28 paise to
settle at 71.84 against the US dollar as investor sentiment revived after China and the
US said they will resume trade talks.