Latest news with #SubhomoyBhattacharjee
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Business Standard
20-05-2025
- Business
- Business Standard
North East sea-road link via Myanmar back in focus as ties with Dhaka fray
India looks to fast-track a long-pending multimodal corridor to the North East via Myanmar, bypassing Bangladesh, amid rising regional tensions and shifting geopolitical equations Subhomoy Bhattacharjee New Delhi Listen to This Article The Bill for the alternative way out of the North East using roads and a sea link, bypassing Bangladesh, could soar upward of Rs 20,000 crore, a government estimate shows. Even as there has been a lot of buzz about the project this week, this will be the third time in a decade the project will be revived. The project is, however, older and dates back to the term of the Atal Bihari Vajpayee-led NDA government. A Detailed Project Report for development of this corridor as a sea-cum-road link to the Northeastern states through Myanmar was prepared by project consultancy
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Business Standard
13-05-2025
- Business
- Business Standard
Operation Sindoor: How a Covid-era change to spending rules came in handy
During Covid, the government increased the Contingency Fund limit from ₹500 cr to ₹30,000 cr, a measure that made it easier for the expenditure dept to disburse funds without Parliamentary approval Subhomoy Bhattacharjee Delhi Listen to This Article A significant rule change introduced to deal with the Covid-19 pandemic came handy in the recent military operations against Pakistan, allowing the India government flexibility in drawing funds. The Covid-19 pandemic-drive change means the union government can finance any war with up to ₹30,000 crore without falling foul of spending rules. The changes were the increase in the corpus of Contingency Fund of India from ₹500 crore to ₹30,000 crore, approved by Parliament in FY22. The Contingency Fund is an imprest mechanism mandated by the Constitution of India that allows the Centre to finance unforeseen expenditures which arise when Parliament
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Business Standard
06-05-2025
- Business
- Business Standard
Import ban, shipping restrictions on Pakistan to start showing impact soon
Most shipments from Dubai take about nine days to reach Indian ports; thus, the shipping ban as well as the indirect import ban will only start showing up by this weekend, say experts Subhomoy Bhattacharjee New Delhi Listen to This Article The Indian government last week banned ships flying Pakistani colours from docking at Indian ports. It also banned any imports from Pakistan, whether direct, indirect, or in-transit. However, the full impact of the import ban will only be felt later this week or early next week, given the transit times involved for indirect imports, especially from West Asian ports. It takes about nine days for a ship from Dubai, the favoured port for goods originating from Pakistan for India to reach JNPT near Mumbai. The full impact of the import ban, imposed May 3 by the Director General of Foreign
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Business Standard
22-04-2025
- Business
- Business Standard
India sweetens oil block bids with lease reform, arbitration freedom
Expanded definitions, arbitration rights and lease flexibility mark major policy shift as government tries to revive interest in nearly exhausted oil exploration blocks Subhomoy Bhattacharjee New Delhi Listen to This Article From the nine iterations of the oil acreage licensing policy (OALP), the major change in the tenth version, due out in August this year, will be twofold. The first of those is the expanded definition of mineral oils to include shale oil, shale gas and coal-bed methane. The other one is the freedom to pursue international arbitration in the event of disputes, as well as offering a longer lease period for the fields the companies win. Combined with the removal of windfall tax on domestically produced crude that was in effect since July 2022, prospective bidders now have a realistic
