Iron ore export to China destabilises steel production in India
In the first four months (January-April), iron ore exports from India increased by 66 per cent to 22.42 million tonne (MT). About 90 per cent of the export goes to China
Nevin John | May 28, 2021 | Updated 18:34 IST
The price of hot rolled coil (HRC) increased to Rs 70,000 per tonne as compared to Rs 45,000 at the same time last year
Spike in iron ore export, largely to China, has made the lives of Indian steel makers miserable. Though global steel prices have been high in the first four months of this year, producers are struggling to supply as there is a huge shortage in raw material, iron ore.
Afcons will give between 3.5 million rupees ($48,065) and 7.5 million rupees to families of those deceased and the offshore contractor said it would also establish a trust to support the education of their children.
“The families of the deceased would receive a total compensation equivalent to balance period of service up to 10 years salaries through a combination of ex gratia pay-outs and insurance compensation,” said a statement from Afcons Infrastructure.
ONGC said it would also pay compensation of 200,000 rupees to the families of the deceased workers and 100,000 rupees compensation to survivors.
However, unconfirmed local media reports claimed families of those impacted are considering legal action as they believe compensation of up to 30 million rupees ($412,000) could be awarded.
Commerce and Industry Minister Piyush Goyal on Monday said collective efforts of all the stakeholders to deal with cyclone Yaas can ensure zero casualty. He said central and state governments are working together to ensure an orderly planning, relief and rehabilitation measures post cyclone. We must ensure a completely zero casualty situation and the collective efforts of governments and industry participants can actually make that happen, Goyal said while interacting with industry representatives on preparedness for cyclone Yaas. Several people have been killed in incidents related to cyclone Tauktae . The minister also emphasised on ensuring minimum outage of power and communication.
India has turned to OPEC nations particularly Saudi Arabia, UAE and Kuwait for sourcing medical oxygen in its battle against the world’s worst outbreak of COVID-19 pandemic. Oil Minister Dharmendra Pradhan turned to India’s traditional oil suppliers, consulting his counterparts in Saudi Arabia, UAE, Kuwait, Qatar and Bahrain to bridge the huge deficit of medical oxygen the country is facing for treating COVID patients.
“Had close consultations during the last week with my counterparts from Saudi Arabia, UAE & Qatar on ways to increase import of LMO into India. Deeply appreciate the initial gesture of goodwill with complimentary LMO supplies particularly from UAE, Kuwait, Bahrain & Saudi Arabia,” Pradhan tweeted.
Ahead of Gujarat polls, GST on 178 items reduced but Petrol, Diesel still not included under new tax regime
Ahead of Gujarat polls, GST on 178 items reduced but Petrol, Diesel still not included under new tax regime
Vehicle Users And States, Mostly Governed By Congress Party Have Been Demanding The Inclusion Of Petrol And Diesel Under The Ambit Of GST.
News Nation Bureau | Edited By : Shashikant Sharma | Updated on: 11 Nov 2017, 02:14:58 AM
New Delhi:
Barely 28 days before PM Modi’s home state Gujarat goes into polls, BJP-led Union government reduced the Goods and Service Tax (GST) on 178 items from 28 per cent to 18 per cent.