Cash transactions proposed to be capped at Rs 2 lakh

Earlier, while presenting the Budget on February 1, Finance Minister Arun Jaitley had proposed the cap to be Rs 3 lakh with effect from AprilThe government on Tuesday moved a fresh proposal to cap cash transactions at Rs 2 lakh instead of Rs 3 lakh as provided in the Budget, as it introduced as many as 40 amendments to the Finance Bill in an "unprecedented move".

As the Finance Bill was taken up for consideration in the Lok Sabha, opposition parties like TMC, BJD and RSP protested against the introduction of the amendments to 40 Acts, saying it was being done in the form of "back-door entry"The amendments to the laws like Companies Act, Employees Provident Fund, Smuggling and Foreign Exchange Act, TRAI Act and Information Technology Act, have been moved with an aim of making the functioning of tribunals more efficient by merging the smaller ones and reducing their numbers from 40 to 12.

The objections by the opposition parties were overruled by Speaker Sumitra Mahajan who ruled that the 'incidental provisions' involved in the amendments constitute a 'Money Bill' and therefore can be considered as part of the FinanceBill.Among the amendments made to the Finance Bill was a provision to cap cash transaction at Rs 2 lakh.

India seeks investment from Aramco

 Abu Dhabi co in refinery, petchem projectIndia plans to set up a 60 million tonnes per annum (mtpa) coastal refinery in Maharashtra. Petroleum Minister Dharmendra Pradhan had last year said the government was keen to have foreign investment in the project.India is talking to Saudi Aramco and Abu Dhabi National Oil Company to invest here in refinery and petrochemical projects, Minister of Petroleum and Natural Gas Dharmendra Pradhan said on Thursday."We are talking to Aramco for a mega refinery project," Pradhan said when asked what kind of projects the global oil and gas majors were interested in. He was talking to reporters on the sidelines of Network18's Global Natural Resources Conclave.India plans to set up a 60 million tonnes per annum (mtpa) coastal refinery in Maharashtra. Pradhan had last year said the government was keen to have foreign investment in the project.He also said the government would soon start the second round of auction of discovered small fields.The government has so far awarded 31 'contract areas' under its 2016 auction of discovered small and marginal oil and gas fields that were surrendered 

Read more for Indian Stock Tips- http://bit.ly/ace_services

Railways get tough with food contractors violating norms

In its endeavour to provide quality and hygienic food to passengers, railways have developed and operationalised an institutionalised mechanism for monitoring of quality and hygiene of catering services through regular inspections at various levels to address catering complaints.Cracking down on errant caterers, railways have terminated a food contract and blacklisted 16 contractors besides collecting a fine of Rs 1.8 crore in 2,108 cases related to food complaints in the last one yearIn its endeavour to provide quality and hygienic food to passengers, railways have developed and operationalised an institutionalised mechanism for monitoring of quality and hygiene of catering services through regular inspections at various levels to address catering complaints

New industrial policy for UP soon; Cabinet sets up GoM

At the first cabinet meeting presided over by Chief Minister Yogi Adityanath, it was decided to set up a five- member group of ministers led by deputy chief minister Dinesh Sharma for studying industrial policies of other states so as to formulate the state's own policy for boosting investment, senior ministers Siddharth Nath Singh and Srikant Sharma said.New industrial policy for UP soon; Cabinet sets upThe Uttar Pradesh government decided to formulate a new industrial policy to attract more investment with a view to generating jobs in the state.At the first cabinet meeting presided over by Chief Minister Yogi Adityanath, it was decided to set up a five- member group of ministers led by deputy chief minister Dinesh Sharma for studying industrial policies of other states so as to formulate the state's own policy for boosting investment, senior ministers Siddharth Nath Singh and Srikant Sharma said.The GoM will visit other states and study the policies of Gujarat and Madhya Pradesh, among others, for preparing a policy to improve investments through single window system, they told media persons after the 90-minute meeting of the cabinet.

Artson Engineering, Nila Infrastructures up 4-7

Artson Engineering, Nila Infrastructures up 4-7% on order winNila Infrastructures has received work order from AMC towards construction of D.K. Patel hall at AhmedabadNila Infrastructures rose more than 4 percent and 7 percent intraday Wednesday on order win.Artson Engineering has received a contract of approximately Rs 12.50 crore from Tata Projects for the piping and mechanical works in the state of Maharashtra, India.Nila Infrastructures has received work order from AMC towards construction of D.K. Patel hall at Ahmedabad.With this company forays into yet another activity within Civic Urban Infrastructure.The project involves built up constriction of about 6000 square meters and shall be completed within 24 months at an envisaged cost of Rs 155.7 million.At 10:31 hrs Nila Infrastructures was quoting at Rs 18.05, up Rs 0.80, or 4.64 percent and Artson Engineering was quoting at Rs 50.40, up Rs 0.55, or 1.10 percent on the BSE

Read more for Indian Stock Tips- http://bit.ly/ace_services