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Agreement with 'Ola' in the presence of Chief Minister Stalin
  • Ola Electric Mobility through its subsidiaries Ola Cell Technologies, Ola Electric Technologies has proposed to set up a battery manufacturing plant and an electric vehicle manufacturing plant in the first phase. 
  • In this scheme, the committed investment is Rs.7,614 crore. In this, Ola Cell Technologies will invest Rs.5,114 crore and Ola Electric Technologies will invest Rs.2,500 crore. This will provide employment to 3,111 people.
  • The project is to be set up at Chipkot Parkur Industrial Park in Bochampalli, Krishnagiri District. Through this, the company plans to set up plants with a production capacity of 1.40 lakh four-wheeler electric vehicles and 20 gigawatt batteries. 
  • For this, a memorandum of understanding has been signed between the Tamil Nadu government and Ola Electric Mobility Company in the presence of Chief Minister Stalin.
  • The Chief Minister yesterday laid the foundation stone for the Mini Tidal Park, which is to be constructed at a cost of Rs.30 crores with ground and 4 floors covering an area of 60,000 sq.ft. 
  • Inox Air Products has installed more than 100 liquid medical oxygen tanks with a capacity of 4.5 lakh liters in government and private hospitals. During the Corona period, the company continued to function and ensured uninterrupted supply of liquid oxygen to all hospitals in Tamil Nadu. Currently, the company has set up a new ultra-pure liquid medical oxygen manufacturing plant at SibgadOsur Industrial Park, Krishnagiri district, employing 105 people at a cost of Rs.150 crore. The Chief Minister has inaugurated this plant. For the company to get all the permissions including allotment of 5 acres of land in the industrial park, the guidance agency of Tamil Nadu government has provided support services through single window internet.
  • GX Group, the European market leader in the 'Fiber to the Home' sector, announced at its July 2022 Investors Conference that it will invest Rs 110 crore and set up a Research and Development Center in Chennai to employ 100 high-quality technical engineering personnel. Accordingly, within a short period of time, Chief Minister Stalin inaugurated the research and development center of the company established at Rs 110 crore in Duraipak, Chennai.
India's Permanent Representative Rusira Kamboj elected as President of UN 62nd session
  • The first meeting of the 62nd session of the United Nations Commission for Social Development took place this week in New York. India's Permanent Representative to the United Nations, Rusira Kamboj, was elected as the Chairperson of the 62nd session at this meeting.
  • Jan Ivanovski from North Macedonia and Carla Maria Carlson from the Dominican Republic have been chosen as vice-presidents.
Recommendations of the 49th GST Council Meeting
  • The 49th GST Council was convened in Delhi under the chairmanship of Union Minister for Finance and Corporate Affairs Ms. Nirmala Sitharaman. Union Minister of State for Finance Mr. Pankaj Chaudhary, Finance Ministers of States and Union Territories and senior officials of the Ministry of Finance were also present in the meeting.
  • GST rates on goods and services and other trade facilitation measures GST compensation, GST Appellate Tribunal, Approval of Committee of Ministers (GoM) Report on Skill Based Taxation The GST Council has made the following recommendations.
  • The total GST compensation outstanding for June 2022 is Rs. 16,982 crores. Since there is no amount in the GST compensation fund, the central government has decided to release this amount from its own resources. 
  • Future compensation will be withdrawn from cess collection. In addition, the Center will also provide a final GST compensation of Rs 16,524 crore as admissible to states that have provided revenue figures certified by the Accountant General of the states.
  • In this way, Tamil Nadu as compensation for June is Rs. 1201 crore and Rs.73 crore will be released for Puducherry.
  • On the subject of GST Appellate Tribunal, the Council accepted the report of the Committee of Ministers with some modifications. The final draft amendments to the GST laws will be sent to the members for their comments. The Chairman is empowered to finalize it.
  • The Council approved the committee's recommendations aimed at improving revenue collection and plugging leakages from products like paan masala, gutka and chewing tobacco. Approval to reduce duty on pencil sharpener from 18% to 12%.
India's mineral production to rise 10 percent in December 2022
  • The mining and quarrying sector production in the country increased by 9.8 percent in December 2022 compared to December 2021. At the same time, the overall growth for the period April to December 2022-23 has increased by 5.4 per cent over the same period of the previous year.
  • Important minerals with increased production in December 2022 over December 2021 and increased percentage: Gold (64.2%), Phosphorite (53.9%), Iron Ore (19.5%), Lime (14.5%), Manganese Ore (12.8%), Coal (11.4%), concentrated zinc (9.4%), concentrated lead (4.5%), concentrated copper (3.9%), and natural gas (2.6%).

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