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Tag: excess

  • AP CM requests Centre to allow sale of excess FCV Tobacco without penalties

    AP CM requests Centre to allow sale of excess FCV Tobacco without penalties

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    Hyderabad: Andhra Pradesh chief minister YS Jagan Mohan Reddy on Friday wrote to the Union Minister for Commerce and Industry, Piyush Goyal requesting to allow the sale of excess Flue Cure Virginia (FCV) tobacco produced in the state without any penalty for 2022 to 2023 crop season.

    Jagan requested the Central government to issue necessary orders to the Tobacco Board, Guntur to allow the sale of excess FCV tobacco produced by the registered growers of the state without any penalty in SBS, SLS and NLS regions.

    FCV tobacco Crop is grown under Southern Light Soils (SLS) and Southern Black Soils (SBS) regions in Prakasam, SPSR Nellore, Bapatla, Palnadu, Guntur and Northern Light Soils (NLS) West and East Godavari districts in the state.

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    He said that the crop was severely affected due to the Mandous cyclonic heavy rains and out of 53,000 hectares more than 50 per cent of the area was severely damaged.

    The cyclone caused the tobacco growers to incur additional costs on the production of the crop during this year, as there is no alternate crop for the region the farmers were forced to go for replanting.

    “As the FCV tobacco Farmers have already incurred heavy losses due to the mandous cyclone and also spent huge amounts for replanting and irrigating the crop, they are not in a position to pay the penalties to the Tobacco Board on excess tobacco produced beyond the authorised quantity,” said Jagan.

    He mentioned that similar measures were taken by the Centre to allow the sale of excess FCV tobacco produced by the registered growers as well as the unauthorized FCV tobacco produced by the unregistered growers in Karnataka without any penalty during the 2022 to 2023 crop season.

    The chief minister requested for the measures to be extended to provide to the AP farmers who suffered losses due to the cyclone.

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    ( With inputs from www.siasat.com )

  • Two Employees Suspended For Releasing ‘Excess’ Payment Under MGNREGA

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    SRINAGAR: Two employees have been suspended and an enquiry has been initiated for releasing excess payment under MGNREGA in block SK Pora in central Kashmir’s Budgam district.

    An official said that two employees identified as Musadiq Nazir (VLW) and Ilyas Ahmad Wani (In-charge Junior Assistant) of block Snoor Kali-Pora in Budgam have been suspended by Project Officer Wages Employment (ACD) Budgam, and an enquiry has been initiated if the excess payment has been released under ‘’MGNREGA’’ (Labour and material component) in Block SK Pora in Budgam.

    Both the officials have been placed under suspension and attached to ACD Office Budgam, he said.

    The enquiry committee comprising AD Planning Budgam Mohammad Abrahim, BDO SK-Pora Shahbaz Chowdhary, SO Planning of Block Narbal Irshad Ahmad and JSA Planning of ACD Office Budgam Tanveer Ahmad Lone has been asked to submit the detailed report within weeks positively. (KDC)

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    #Employees #Suspended #Releasing #Excess #Payment #MGNREGA

    ( With inputs from : kashmirlife.net )

  • Measures in place to address excess volatility: Sebi on Adani crisis

    Measures in place to address excess volatility: Sebi on Adani crisis

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    New Delhi: Amid a raging controversy over a meltdown in Adani group stocks, regulator Sebi on Saturday said it is committed to ensuring the stock market’s integrity and all necessary surveillance measures are in place to address any excessive volatility in individual shares.

    SEBI

    Without naming the Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.

    Officials confirmed that the statement has been issued in the wake of the Adani matter only.

    “As part of its mandate, Sebi seeks to maintain orderly and efficient functioning of the market and has put in place a set of well-defined, publicly available surveillance measures (including the ASM framework) to address excessive volatility in specific stocks.

    “This mechanism gets automatically triggered under certain conditions of price volatility in any stock,” the Securities and Exchange Board of India (Sebi) said.

    Stock exchanges BSE and NSE have put three Adani group companies — Adani Enterprises, Adani Ports and Special Economic Zone, and Ambuja Cements — under their short-term additional surveillance measure (ASM), which basically means that intra-day trading would require a 100 percent upfront margin and is aimed at curbing speculation and short-selling in these stocks.

    Sebi further said that in all specific entity-related matters, if any information comes to its notice, then, as per extant policies, the same is examined and after due examination, appropriate action is taken.

    “Sebi has consistently followed this approach on entity-level issues and would continue to do so in future as well,” it added.

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    #Measures #place #address #excess #volatility #Sebi #Adani #crisis

    ( With inputs from www.siasat.com )