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Drumbeat: Ad Buzzaar
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Monday, May 25, 1998
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S&P's negative rating to have little impact, feels ministry
Standard & Poor's change of India outlook from stable to negative will at worst have a negligible impact on the country's external finances, finance ministry officials said yesterday.
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MIDC new guidelines for industrial plots transfer
The Maharashtra Industrial Development Corporation (MIDC), a nodal agency to promote industry and industrial estates, has introduced new transfer guidelines for industrial plots, sheds, residential plots and galas in flatted type buildings and residential flats. This move is expected to generate an additional revenue of at least Rs 200 crore.
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Need of the hour: Less duty on recycled aluminium scrap
Power is a problem, only if we make it so. The aluminium industry can produce excellent metal with just 5% of the normally required energy, but cannot do so due to the exorbitant increase in tariff from 12 to 25% in the most vital raw material for the cheap process, recycling scrap. The increase in duty, effected in the 1997-98 budget, has dealt a sharp blow to the possibilities of higher quantities of cheap production of primary metal, and therefore of cheap value addition opportunities.
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States asked to chart uniform policy for non-conventional energy projects
The ministry of non-conventional energy sources has asked states to clarify the norms for non-conventional power projects, provide wheeling and banking facility at nominal rates and set a draft power purchase agreement (PPA) to encourage power generation through these sources. In a recent meeting with the state secretaries of renewable energy, ministry officials said that policies should be similar for all non-conventional energy projects.
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