Latest news with #BCD
Time of India
6 hours ago
- General
- Time of India
BCD to set up centre for fire safety on IIT-Patna campus
Patna: Building construction department (BCD) is set to establish a 'Centre of Excellence for Fire Testing, Training, and Research Laboratory' on the campus of the Indian Institute of Technology-Patna. A memorandum of understanding (MoU) will soon be signed to set up the centre. The facility will assist in selecting modern equipment for fire safety in ongoing and future projects; evaluating the fire resistance of materials used; assessing damage to building structures after fires; retrofitting damaged structures, and investigating fire propagation patterns. The govt will spend around Rs 17.3 crore on this ambitious project, which was recently cleared by the state cabinet. Kumar Ravi, secretary of the BCD, said the facility will be a significant step towards ensuring fire safety in buildings. "A separate building for fire testing, training, and research centre will be constructed on the IIT-Patna campus, for which land will be allocated by the institute. All expenses related to the operation, human resources, training, equipment repair, and maintenance will be borne by the department for the first five years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo IIT-Patna will provide expertise, faculty support, and technical leadership in research activities," he said. Discussing the objective of the facility, the secretary said it will test and inspect the fire resistance of materials and equipment used for fire safety in projects implemented or to be implemented by the BCD and other departments or corporations. "The facility will provide training to engineers on fire safety and engineering, rescue methods, assessment of damage to buildings after fires, and methods and measures for strengthening them, as well as training related to protective and rescue operations during fires. Additionally, it will also focus on the prevention of fire incidents and safety measures like sprinkler systems and smoke detection in buildings," Ravi told this reporter. Research at this facility will study the impact of fire on the structural components of buildings, the type of fire spread in multi-storey buildings, and the fire-resistant capacity of locally available construction materials. The secretary added, "The proposal for the MoU between BCD and IIT-Patna has been sent to the institute. Once it is finalised, the agency will be hired to prepare the detailed project report for the project."
India Gazette
11 hours ago
- Business
- India Gazette
Duty reduction on crude edible oils beneficial for both refiners, consumers: CareEdge
New Delhi [India], June 22 (ANI): The recent cut in import duties on crude edible oils is beneficial for major industry players as it would encourage refiners to favour crude imports over refined oils, a report by CareEdge Ratings said. Also, according to the rating agency, the duty reduction would lead to improved capacity utilisation and enhanced refining margins through increased domestic processing. On May 30 this year, the government announced a reduction in the Basic Customs Duty (BCD) on key imported crude edible oils -- Crude Palm Oil (CPO), Crude Soybean Oil, and Crude Sunflower Oil -- lowering it from 20 per cent to 10 per cent. The move is widely seen as an effort to taper domestic edible oil prices and control food inflation. Post the duty cut, the Basic Customs Duty on Refined Edible Oils (RBD) remains at 32.5 per cent, widening the differential between Refined, Bleached, and Deodorized palm oil and crude variant of palm oil to 19.25 per cent and enhancing the competitive advantage for domestic refiners. Ultimately, it will aid better price discovery for retail consumers. India remains the world's leading importer of edible oils, meeting approximately 55-60 per cent of its domestic consumption through overseas purchases primarily from Indonesia and Malaysia. 'The increase in duty differential between crude and refined edible oils shall enhance competitiveness for domestic refiners,' the CareEdge report read. Domestic retail edible oil prices, which saw firm trends during the first half of 2025 due to elevated global prices and currency depreciation, are expected to soften over the coming weeks as refiners pass on cost advantages resulting from the duty reduction, the rating agency said. The Ministry of Consumer Affairs has also issued directives requiring edible oil companies to revise their Maximum Retail Prices (MRPs) downward and submit weekly updates on Price-to-Distributor (PTD) rates. With food inflation (CPI-based) easing to 2.8 per cent in May 2025 (as per data from the Ministry of Statistics and Programme Implementation) and the Indian Meteorological Department forecasting a stronger-than-normal monsoon, these developments are anticipated to reinforce the downtrend in edible oil retail prices collectively. 'The recent duty revision acts as a timely and prudent policy intervention aimed at moderating inflationary pressures while bolstering the competitiveness of domestic refiners. The increased duty differential is expected to enhance gross refining margins and boost capacity utilisation in the near term. Additionally, the reduced landed costs will likely result in a price correction over the near term, ultimately benefiting retail consumers,' said Rajan Sukhija, Associate Director, CareEdge Ratings. Priti Agarwal, Senior Director, CareEdge Ratings, said, 'The move is a win-win for all in the domestic edible oil manufacturing value chain as it will not just strengthen the capacity utilisation of domestic refiners but also ensure a fair price to domestic oilseed farmers and a fair price to consumers.' (ANI)
Time of India
12 hours ago
- Business
- Time of India
Duty reduction on crude edible oils beneficial for both refiners, consumers: CareEdge
The recent cut in import duties on crude edible oils is beneficial for major industry players as it would encourage refiners to favour crude imports over refined oils, a report by CareEdge Ratings said. Also, according to the rating agency , the duty reduction would lead to improved capacity utilisation and enhanced refining margins through increased domestic processing. On May 30 this year, the government announced a reduction in the Basic Customs Duty (BCD) on key imported crude edible oils, Crude Palm Oil (CPO), Crude Soybean Oil, and Crude Sunflower Oil, lowering it from 20 per cent to 10 per cent. The move is widely seen as an effort to taper domestic edible oil prices and control food inflation . Post the duty cut, the Basic Customs Duty on Refined Edible Oils (RBD) remains at 32.5 per cent, widening the differential between Refined, Bleached, and Deodorized palm oil and crude variant of palm oil to 19.25 per cent and enhancing the competitive advantage for domestic refiners. Live Events Ultimately, it will aid better price discovery for retail consumers. India remains the world's leading importer of edible oils , meeting approximately 55-60 per cent of its domestic consumption through overseas purchases primarily from Indonesia and Malaysia. "The increase in duty differential between crude and refined edible oils shall enhance competitiveness for domestic refiners," the CareEdge report read. Domestic retail edible oil prices, which saw firm trends during the first half of 2025 due to elevated global prices and currency depreciation, are expected to soften over the coming weeks as refiners pass on cost advantages resulting from the duty reduction, the rating agency said. The Ministry of Consumer Affairs has also issued directives requiring edible oil companies to revise their Maximum Retail Prices (MRPs) downward and submit weekly updates on Price-to-Distributor (PTD) rates. With food inflation (CPI-based) easing to 2.8 per cent in May 2025 (as per data from the Ministry of Statistics and Programme Implementation) and the Indian Meteorological Department forecasting a stronger-than-normal monsoon, these developments are anticipated to reinforce the downtrend in edible oil retail prices collectively. "The recent duty revision acts as a timely and prudent policy intervention aimed at moderating inflationary pressures while bolstering the competitiveness of domestic refiners. The increased duty differential is expected to enhance gross refining margins and boost capacity utilisation in the near term. Additionally, the reduced landed costs will likely result in a price correction over the near term, ultimately benefiting retail consumers," said Rajan Sukhija, Associate Director, CareEdge Ratings. Priti Agarwal, Senior Director, CareEdge Ratings, said, "The move is a win-win for all in the domestic edible oil manufacturing value chain as it will not just strengthen the capacity utilisation of domestic refiners but also ensure a fair price to domestic oilseed farmers and a fair price to consumers."
Time of India
13-06-2025
- Business
- Time of India
Bokaro admin eyes beautification of city
1 2 3 Bokaro: The district administration has initiated a beautification and development drive across Bokaro Steel City. Under this initiative, roadsides will be cleaned, welcome arches will be installed, and a park and a selfie point will be built near the BSL memorial. That apart, a citywide plantation drive will also be undertaken. On Friday, DC Ajay Nath Jha met senior officials of the Bokaro Steel Limited (BSL), building construction department (BCD) and the forest department for revamping the city's aesthetic appeal and upgrading its civic infrastructure. Jha ordered the installation of "Welcome to Bokaro Steel City" arches at city's entry points and proposed a new park and selfie point near the BSL memorial near Bokaro Airport. The BSL management was given a three-month window for the project. Jha urged BSL officials to ensure the city got cleaner, more beautiful and stressed on the need to transform Bokaro into a free internet zone like other smart cities. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Business Standard
12-06-2025
- Business
- Business Standard
Center slashes basic custom duty on crude edible oils to 10%; Aims to reduce retail prices
Centre has reduced the Basic Customs Duty (BCD) on crude edible oils namely crude sunflower, soybean, and palm oils has been reduced from 20% to 10% resulting in the import duty differential between crude and refined edible oils from 8.75% to 19.25%, according to Ministry of Consumer Affairs, Food & Public Distribution. This adjustment aims to address the escalating edible oil prices resulting from the September 2024 duty hike and concurrent increases in international market prices. An advisory has been issued to edible oil associations and industry stakeholders to ensure that the full benefit of the reduced duty is passed on to consumers. 19.25% duty differential between crude and refined oils helps to encourage domestic refining capacity utilization and reduce imports of refined oils. Import duty on edible oils is one of the important factors that impacted landed cost of edible oils and thereby domestic prices. By lowering the import duty on crude oils, the government aims to reduce the landed cost and retail prices of edible oils, providing relief to consumers and helping to cool overall inflation. The reduced duty will also encourage domestic refining and maintain fair compensation for farmers.
