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Visit of Minister of state(I/C) for Petroleum and Natural Gas Shri Dharmendra Pradhan to Colombia




Visit of Minister of state(I/C) for Petroleum and Natural Gas Shri Dharmendra Pradhan to Colombia
Minister of State(I/C) for Petroleum and Natural Gas Shri Dharmendra Pradhan led an Indian delegation to Colombia on May 20-22,2015. During the official visit he held bilateral talks with his counterpart Minister of Energy and Mines of Colombia Mr Tomas Gonzalez Estrada and met CEO of National Oil Company ECOPETROL. Shri Pradhan also visited Moriche oil field where ONGC Videsh Ltd( OVL) along with SINOPEC of China and ECOPETROL has formed a consortium named Mansarover Energy which is producing about 2 MMT oil per year. 

ACC Appointments




ACC Appointments
The Appointments Committee of the Cabinet has approved the following:

1. The Appointment of Shri G. Mohan Kumar, IAS (OR:79), Secretary, Department of Defence Production as Defence Secretary, Ministry of Defence for a period of two years from the date of taking over the charge of the post vice Shri Radha Krishna Mathur, IAS (MT:77), on his retirement. 

Arm Length Price




Draft Scheme of the Proposed Rules for Computation of Arm Length Price (ALP) of an International Transaction or Specified Domestic Transaction Uploaded on Finance Ministry’s Website for Comments and Suggestions by 31st May, 2015
            The Finance (No. 2) Act, 2014 had amended the provision of Income-tax Act relating to transfer pricing regime.  The purpose of amendment of section 92C (2) of the Act was to facilitate introduction of “range” concept for determination of Arm’s Length Price of an international transaction or a specified domestic transaction.  Further, use of multiple year data for comparability analysis for the purpose of transfer pricing was also to be incorporated.

Law Commission of India Submits Report on Guardianship and Custody Laws



Law Commission of India Submits Report on Guardianship and Custody Laws
Proposes Amendments to Focus on “Welfare of the Child” in Custody Matters
The Law Commission of India has submitted its Report No. 257 on “Reforms in Guardianship and Custody Laws in India”  today  to the Union Minister of Law and Justice. The report suggests amendments to existing laws to emphasize the “welfare of the child” in custody and guardianship matters, and introduces the concept of joint custody as an option to be considered in certain cases.

PM calls for an end to caste-based politics, says Eastern India must progress fast



PM calls for an end to caste-based politics, says Eastern India must progress fast


The Prime Minister, Shri Narendra Modi, today invoked the great poet Ramdhari Singh Dinkar to call for an end to caste-based politics. The Prime Minister said that for India to progress, it is essential for eastern India, including Bihar, to progress and catch up with the western part of India. He was speaking at a function in New Delhi, to mark the golden jubilee of two of Dinkar's great works: "Sanskriti ke chaar adhyaay," and "Parshuram ki pratiksha." The Prime Minister recalled a letter written by Shri Ramdhari Singh Dinkar in 1961, in which the poet emphasized that his native state of Bihar must forget caste-based divisions, and work towards a merit-based society. In the letter, Dinkar further said that if the people of Bihar do not rise above caste, public life in the state will decay.

Gazette Notification regarding administration of UTs



Gazette Notification regarding administration of UTs

Following is the text of the Gazette Notification regarding administration of Union Territories issued by the Ministry of Home Affairs on May 21, 2015: -

Global crude oil price of Indian Basket was US$ 63.46 per bbl on 21.05.2015




Global crude oil price of Indian Basket was US$ 63.46 per bbl on 21.05.2015 
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 63.46 per barrel (bbl) on 21.05.2015. This was higher than the price of US$ 62.65 per bbl on previous publishing day of 20.05.2015.
 
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