Daily Archives: February 25, 2016

Deemed short term capital gain from Sale of depreciable assets allowed to be set off against brought forward long term capital losses and unabsorbed depreciation

Issue Assessee had for the subject assessment year inter alia disclosed an amount of Rs.7.12 Crores as deemed short term capital gain under Section 50 of the Act. This deemed short term capital gain arose on account of the sale of depreciable assets. This deemed short term capital gain was set off against brought forward… Read More »

Inclusion of “National Bank of Abu Dhabi PJSC” in the Second Schedule to RBI

Source : Reserve Bank of India RBI/2015-16/328 DBR.No.Ret.BC.79/12.07.138A/2015-16 February 25, 2016 All Scheduled Commercial Banks Dear Sir, Inclusion of “National Bank of Abu Dhabi PJSC” in the Second Schedule to the Reserve Bank of India Act, 1934 We advise that the “National Bank of Abu Dhabi PJSC” has been included in the Second Schedule to… Read More »

Alteration in name of “Bank Internasional Indonesia” to “PT Bank Maybank Indonesia TBK”

Source Reserve Bank of India RBI/2015-16/329 DBR.No.Ret.BC.80/12.07.104A/2015-16 February 25, 2016 All Scheduled Commercial Banks Dear Sir, Alteration in the name of “Bank Internasional Indonesia” to “PT Bank Maybank Indonesia TBK” in the Second Schedule to the RBI Act, 1934 We advise that the name of “Bank Internasional Indonesia” has been changed to “PT Bank Maybank… Read More »

Rehabilitation of Manual Scavengers

Rehabilitation of Manual Scavengers The Self Employment Scheme for the Rehabilitation of Manual Scavengers (SRMS) has been revised in accordance with the provision of “Prohibition of Employment as Manual Scavengers and their Rehabilitation Act 2013” (MS Act, 2013) to provide the following benefits to the identified manual scavengers and their dependants. (i)     Onetime cash assistance… Read More »

Cases of Atrocities Against SCS

Cases of Atrocities Against SCS Article 17 of the Constitution of India has abolished ‘untouchability’ forbade its practice and made enforcement of any disability arising therefrom as an offence punishable in accordance with law. An Act of Parliament namely, the Protection of Civil Rights Act, 1955 prescribes punishment for enforcement of any disability arising from… Read More »

Modernization of Dhubri River Port

Modernization of Dhubri River Port A floating terminal is being maintained at the Dhubri river port on the bank of river Brahmaputra which caters to the operations of two Roll-on Roll-off vessels of Inland Water Transport Directorate of the Government of Assam and other private boat operators. In view of the potential of the Dhubri… Read More »

Oil Pollution in Seas

Oil Pollution in Seas The Government has formulated the National Oil Spill –Disaster Contingency Plan (NOS-DCP) for establishing an integrated national system for responding promptly and effectively to deal with any oil pollution incident. The Indian Coast Guard (ICG), is designated as the Central Coordinating Agency (CCA) for marine oil spill response activities. Government has… Read More »

Investment in Port Sector

Investment in Port Sector   As on date there are  33 Public Private Partnership(PPP) projects having estimated cost of Rs.32001.30 crore and 280.97 Million Ton Capacity under implementation stage and 45 projects worth Rs.18414.72 crore investment and 283.52 Million Ton Capacity under operation in Major Ports.  The details are as shown below: PPP PROJECTS UNDER… Read More »

Govt proposes to launch River Information System

River Information System The Government proposes to launch a River Information System (RIS) on lines of Air Traffic Control. RIS is a combination of tracking and meteorological equipment with specialized software designed to optimize traffic and transport processes in inland navigation. The system enables swift electronic data transfer between mobile vessels and shore (base stations)… Read More »

Govt Targets Under Sagarmala Project

Targets Under Sagarmala Project Implementation of the Sagarmala Programme is being done in accordance with the concept approved by Cabinet on 25th March, 2015. As part of the approved concept note, broad activities under Sagarmala have been identified and their current status is provided below: • Setting up of Sagarmala Cell: Sagarmala Cell was set… Read More »

Productivity of Shipyards

Productivity of Shipyards As regards mechanization and productivity levels of shipyards in the country, the Central Public Sector Shipyards, CSL is sufficiently mechanised and modernised on par with good quality medium size international standards. Defence Public Sector shipyards are sufficiently mechanised and comprehensive modernisation has been undertaken to augment their capacity. About HDPEL, Government of… Read More »

Key takeaway of Railway Budget 2016

No Hike in Passenger Fare 65,000 Additional Berths and 17,000 Bio Toilets to be Installed  Operations Audit to Improve Punctuality of trains Proposed  Wi Fi Facilities in 400 more Stations  Stations to be Developed Under PPP Mode  Award of Civil Contracts for Dedicated Freight Corridor to be  Over by the end of this Financial Year … Read More »

Changes in Civil Services Examination

Changes in Civil Services Examination An Expert Committee has been constituted by Union Public Service Commission (UPSC) under the chairmanship of Shri B.S.Baswan to comprehensively examine the various issues, raised from time to time regarding the Civil Service Examination, with respect to the eligibility, syllabus, scheme and pattern of the Examination vide notice dated 12.08.2015.… Read More »

Govt servant getting retirement benefit from deputation office

Government servant getting retirement benefit from deputation office Appointment to a post on deputation basis is made for a period normally specified in the Recruitment Rules of the deputation post, unless the period of deputation is extended by the Government in terms of prevailing instructions. After expiry of such deputation period, the Government servant is… Read More »

51% increase in outlay for Himachal in Rail Budget

Union Health Minister Shri J P Nadda hails 51% increase in outlay for Himachal in Rail Budget Projects will improve connectivity in Himachal Pradesh: J P Nadda Union Health and Family Welfare Minister Sh. J P Nadda today thanked the Union Railway Minister Sh. Suresh Prabhu for increasing the outlay of railway projects for Himachal… Read More »

PM’s reaction on Railway Budget 2016-2017

PM’s reaction on Railway Budget 2016-2017 प्रगतिशील राष्‍ट्र की गतिशील रेलवे के लिए एक विचारशील बजट प्रस्‍तुत करने के लिए, मैं रेलमंत्री सुरेश प्रभु को बहुत-बहुत बधाई देता हूँ। इस बजट में गरीबों की गरिमा, महिलाओं का गौरव, युवाओं का उत्‍साह एवं मध्‍यम वर्ग की मुस्कान बढ़ाने का भरसक प्रयास किया गया है। पिछले वर्ष… Read More »

Railway Exploring for Redevelopment of Stations

Railway Exploring Multilateral Financial Investment Partnership with State Governments for Redevelopment of Stations National Academy of Indian Railways at Vadodara to be upgraded as Rail University Presenting Railway Budget 2016-17 in Parliament today, the Minister of Railways Shri Suresh Prabhakar Prabhu said that Redevelopment of stations using different models is being experimented. Based on one… Read More »

Railways Vision 2020 to meet Long Felt Desires of Common Man

Railways Vision 2020 to meet Long Felt Desires of Common Man The Minister of Railways Shri Suresh Prabhakar Prabhu has said that by 2020, Indian Railways look forward to meet the long-felt desires of the common man such as reserved accommodation on trains being available on demand, time tabled freight trains with credible service commitments,… Read More »

IRCTC Process of Empanelling Self-Help Groups for Providing Catering/Cooking Services

IRCTC has Begun the Process of Empanelling Self-Help Groups for Providing Catering/Cooking Services Indian Railways Encourage Sourcing of Products FROM SC/ST Entrepreneurs The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2016-17 in Parliament today said “Last year, I had appealed to various NGOs and Civil society to help Indian Railways… Read More »

Indian Railway’s mission is to ensure 100% transparency

Indian Railways for 100 per cent transparency in all its Operations The Minister of Railways, Shri Suresh Prabhakar Prabhu said that the transparency is an important tenet of this Government. Presenting the Railway Budget 2016-17 in Parliament today he said , Indian Railway’s mission is to ensure 100% transparency in all its operations. He said,… Read More »

Railway Initiatives taken to improve Passenger Ammenities

Initiatives taken to improve Passenger Ammenities The Minister of Railways, Shri Suresh Prabhakar Prabhu said that the common people have always been the focus of all initiatives by the Indian Railways. Presenting the Railway Budget 2016-17 in Parliament today, he said, it has been an unprecedented year for customer oriented works and Indian Railway’s responsiveness… Read More »

Railways to ensure independence of Rail Development Authority

Railways to ensure independence of Rail Development Authority The Minister of Railways, Shri Suresh Prabhakar Prabhu has said that Indian Railways will ensure the independence of Rail Development Authority which was proposed last year to enable fair pricing of services, promote competition, protect customer interests and determine efficiency standards. He was introducing the Railway Budget… Read More »

AYUSH Systems in 5 Railway Hospital

‘AYUSH’ Systems in 5 Railway Hospitals Introduced Gang Men will be Provided with Devices Called ‘Rakshak’ for Promoting Research in Key Policy Areas Two Chairs Set Up The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2016-17 in Parliament today said that he was proud to lead a work force that… Read More »

Fully unreserved Superfast train service for common man

Antyodaya Express and Deen Dayalu Coaches to be Introduced for the Unreserved Passenger Humsafar, Tejas and Uday Train Services to be Introduced for the Reserved Passenger The Minister of Railways Shri Suresh Prabhakar Prabhu while presenting Railway Budget 2016-17 in Parliament today proposed to introduce the Antyodaya Express, a long-distance, fully unreserved, superfast train service,… Read More »

Railway Proposes to Set Up SRESTHA

Railway Proposes to Set Up ‘SRESTHA’- A R&D Organization Bringing Most of IR Companies Under an Umbrella of a Holding Company The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2016-17 in Parliament today announced to set up a R&D organization, a Special Railway Establishment for Strategic Technology & Holistic Advancement,… Read More »

Railway Planned Two New Corridors for Mumbai Suburban Train

Two New Corridors Planned for Mumbai Suburban Train Ring Railway System in Delhi to be Reviewed Suburban Systems to be developed in Bengaluru and Thiruvananthapuram The Minister of Railways Shri Suresh Prabhakar Prabhu while presenting Railway Budget 2016-17 in Parliament today said that two new corridors for Mumbai suburban train viz. Churchgate- Virar and CSTM… Read More »

Increased Outlay for Electrification of Railways

Increased Outlay for Electrification of Railways The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget for 2016-17 in Parliament today said that electrical traction is more economical besides being environment friendly. In a business-as-usual approach, it may take us 10 to 15 years to complete the required electrification which government is… Read More »

Railway to set up Dedicated Team – Sutra for Innovation

A Dedicated, Cross Functional Team – Sutra to Be Set Up Rs. 50 Crore to Support Internal and External Innovation Innovation Committee to be Headed by Shri Ratan Tata The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2016-17 in Parliament today announced that a dedicated, cross functional team called Special… Read More »

Railways to implement EPC mode for undertaking works

Railways to implement EPC mode for undertaking works The Minister of Railways, Shri Suresh Prabhakar Prabhu has said that Engineering Procurement and Construction (EPC) mode will be implemented for allotting works to ensure participation of large professional players and minimizing cost and time overruns. While introducing the Railway Budget for 2016-17 in Parliament today, the… Read More »

Sale of Rail Tickets through Helpline Terminals for Short Distance Travellers

E-Booking of Tickets on the Concessional Passes for Journalists to be Introduced Sale of Tickets through Helpline Terminals for Short Distance Travellers The Minister of Railways Shri Suresh Prabhakar Prabhu said that Indian Railways intends to commence sale of tickets through hand held terminals for the benefit of the suburban and short distance travelers. This… Read More »

Railway to set 2 Loco Factories under Make in India

Bids Finalized for setting up two Loco Factories under ‘Make in India’ initiative The Minister of Railways, Shri Suresh Prabhakar Prabhu has said that in keeping with Prime Minister’s emphasis on ‘Make in India’, the Indian Railways was able to finalise the bids for setting up two loco factories with an order book of about… Read More »

Indian Railway to Develop National Rail Plan-2030

Railway Planning & Investment Organisation to Be Set-up Indian Railway to Develop National Rail Plan-2030 The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2016-17 in Parliament today announced the Sashaktikaran – Improving our planning practices. Shri Prabhu announced Railway Planning & Investment Organisation with funds available for developing and revitalizing… Read More »

Railway to give high priority to Dedicated Freight Corridor project

Dedicated Freight Corridor project to be Given high priority The Minister of Railways, Shri Suresh Prabhakar Prabhu has said that the Dedicated Freight Corridor project, the largest infrastructure project in the country, is gaining momentum. Presenting the Railway Budget 2016-17 in Parliament today, he said it is proposed to take up the following freight corridors:… Read More »

Railway Facilities for Divyang, Senior Citizens and Women Travelers

Facilities for Divyang, Senior Citizens and Women Travelers The Minister of Railways, Shri Suresh Prabhakar Prabhu said that the Indian Railways is fulfilling its social obligations towards Divyang, senior citizens and women travelers. Presenting the Railway Budget 2016-17 in Parliament today he said, for the Divyang, the Railways has introduced one-time registration for availing concessions… Read More »

Railway Minister proposed to reorganize the Railway Board

Indian Railway for Reorganization of Railway Board The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2016-17 in Parliament today announced the Structural Interventions in Railways. Railway Minister said that a departmental orientation, absence of cross-functional collaboration and lack of business focus have held back Bhartiya Rail from realizing the commanding… Read More »

Better Rail connectivity to North East & Jammu and Kashmir

Better Rail connectivity to North East & Jammu and Kashmir The Minister of Railways Shri Suresh Prabhakar Prabhu has said that better connectivity to the North Eastern States is of utmost priority for the Indian Railways. Presenting the Railway Budget 2016-17 in Parliament today he said, Indian Railways have opened the long-awaited Broad Gauge Lumding-Silchar… Read More »

Railway to make all stations Disabiled Friendly

All Stations to be made Disabiled Friendly The Minister of Railways Shri Prabhakar Suresh Prabhu while presenting Railway Budget 2016-17 in Parliament today said that in pursuance of the objectives of Accessible India Campaign Indian Railway will ensure that all stations under redevelopment are made disabled friendly. He also said that at least one disabled… Read More »