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Easing depreciation norms for imported capital goods sought
The high-powered Export Promotion Board (EPB) has recommended to the government the need to "relax" the depreciation norms for capital goods imported by cent per cent export-oriented units and units set up in the export processing zones after they debond.
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Coal pricing moves towards market-orientation
The coming fiscal will mark the ultimate market-orientation of coal, that began with the phased decontrol of pricing and distribution, by adopting international standards for measuring the combustion value of the black diamond. The new energy measurement standards are likley to be linked to the price of coal. The new standards would be evolved first and the policy measures necessary to instal the new system would come afterwards.
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Minister stays 10% price cut in Rifampicin
Minister of petrochemicals and fertilisers M Arunachalam has stayed a 10% cut in the price of rifampicin, the country's largest selling anti-TB and anti-leprosy bulk drug. The ministerial order means that rifampicin will continue to be valued at Rs 5,220 per kg and not at the recently notified price of Rs 4,707 per kg.
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FIs commit $3bn in 20 new power projects
Financial institutions have committed over $3 billion in 20 new projects with a capacity to produce 7,500 MW of power. The major projects were the 1,070 MW Korba thermal power project, the 578 MW Bina thermal project and the 500 MW Balagarh thermal project. The first two projects are in Madhya Pradesh and the third is in West Bengal.
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