GUJARAT Archives

M-cap of top five Gujarat companies rises Rs 3.51 lakh crore

June 14, 2024 by rawan239

Amid high volatility, rising forecasts and the recent second rate increase by the Reserve Bank Of India (RBI), the Indian Equity markets saw a sharp correction on Friday. The BSESensexfell by 1,016.34 points to close at 54,303.44. However, despite the sharp correction, some ofGujaratcompanies shone, with their market capitalization rising by

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Rs 3.51 lakh crore from the peak of October 19, 2021.

Adani Group companies including Adani Enterprises Limited,Adani Power, Adani Green Energy and Adani Total Gas along with Gujarat Fluorochemicals Limited were among the companies which posted the highest Growth in market capitalization. Among the others which performed well were the PSUs GNFC, GSFC, GMDC, andAIA Engineering.

Surat Metro rail project on track despite pandemic

June 14, 2024 by rawan239

While the pandemic held up many development projects in the city, one that didnt stop in its tracks was the Surat Metro that continued its journey despite adversities. Even as the city was battling the spread of the deadly contagion with Covid tests, a few engineering experts

were conducting their own

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set of tests on the metro route.

The project, launched by Prime Minister Narendra Modi in January 2021, is being developed by Gujarat Metro Rail Corporation (GMRC).

Gold demand up by 75% in state

June 14, 2024 by rawan239

Despite a sharp spike in gold prices from January to March this year, the demand for the yellow Metal remained upbeat during the quarter in Gujarat. Against a 17% decline in gold demand in India during the quarter according to the World Gold Council, gold imports inGujaratgrew 75% during the same period.

According to the latest report by the World

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Gold Council, Indias gold demand declined to 112.5 metric tonne (MT) in January to March 2023, down 17%.

Against this, gold imports in Gujarat stood at 14.69MT during the same period, up 75% as compared to 8.39MT in the corresponding period in 2022, according to Ahmedabad Air Cargo Complex (AACC).

Gujarat CM launches coronavirus-free village campaign

June 14, 2024 by rawan239

Gujaratchief minister Vijay Rupani launched Marun Gaam: Corona-Mukt Gaam (My Village: Corona-Free Village) campaign on the occasion of the state’s foundation day.

The campaign was launched

to check the spread of infection due to coronavirus at village level to ensure the villagers remain free from the pandemic.

Gujarat’s GST collection increases by 17.5% in FY 2023

June 14, 2024 by rawan239

GSTcollection inGujaratsurpassed the Rs 1 lakh crore mark in fiscal 2022-23 to touch Rs 1.14 lakh crore. With this, the total tax mop-up in the state grew 17.5% during the fiscal. The rise in commercial activity after the lifting of Covid-related restrictions during the year coupled with are among the key reasons for Growth in the tax collection in Gujarat.

At the time of the GST roll-out, the Centre used to compensate states to ensure a protected revenue growth at 14% per annum for five years. Fiscal 2022-23 was the first year since the Centre stopped compensation to states. Yet, GST collection in Gujarat grew 17.5%, indicating the state is well-positioned to maintain its revenue inflows. This, in fact, is the

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highest growth rate since the new tax regime was rolled out except for the 30% growth during FY22, albeit on a lower base of tax collection during the pandemic year FY21.

During the year, Gujarat’s income through SGST (Rs 65,746 crore) and value-added tax (VAT) on non-subsumed items (Rs 38,037 crore) stood at Rs 1.03 lakh crore in FY2023.

Medical university bill to be tabled in Gujarat assembly

June 14, 2024 by rawan239

In a move to usher in uniformity in medical Education in the state, theGujaratgovernment is set to introduce in the state assembly the Medical University Of Gujarat bill, which proposes to bring 400-odd medical and allied colleges under one university, which will exclusively oversee the functioning of medical colleges.

The move will bring drastic changes to medical education as it proposes that all MBBS, dental, physiotherapy, ayurveda, homoeopathy and Nursing colleges have common syllabi, academic calendar, examination and most importantly, a uniform pattern of processes and assessment.

If the proposed bill is ratified in the budget session of the Gujarat assembly, students who secure admission in the first year of medical, paramedical, ayurveda, homeopathy and nursing courses in the 2022-23 academic year will be inducted into the new medical university.

The proposed new medical university will follow the same procedure as the Gujarat Technological University (GTU).

Rs 330 crore package for onion, potato farmers announced in Gujarat

June 14, 2024 by rawan239

Agriculture-notes-for-state-psc-exams”>Agriculture ministerRaghavji Pateltold the assembly that Gujarat is likely to produce 19.28 lakh metric tonnes of onions, of which 7 lakh tonnes of red onions are likely to arrive in markets during the

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rabi crop.

This would mean that a farmer could get a maximum of Rs 50,000 if he sells the onions in APMCs. Also, thefarmerswill get aid of Rs 20 crore for transportation (of the produce) to other states and abroad.

The minister said that the government has also decided to provide financial aid of Rs

240 crore to potato growers affected by a fall in prices due to high production. He said the production of potatoes exceeded by 2 lakh metric tonnes, and the total output is estimated to be around 40.26 lakh metric tonnes.

Migration study: One more common crane gets GPS tag

June 14, 2024 by rawan239

Yet another common crane was GPS-GSM tagged by theGujaratForest department and theWildlife Institute of IndiainThol-Ramsarsite on World Wetlands Day on Wednesday.
This was done to study the migratory pattern of the bird.

The crane first went to the nearby fields in search of food and returned to the same spot at Thol lake.

The bird was named Vadla and after spending a month in Gujarat departed for its northward Migration on April 10.

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It arrived in Northern Kazakhstan covering a distance of 4,800 km in 15 days. Thereafter, Vadla spent five months in the area which is likely to be its breeding site.

Indonesia bans coal export, South Gujarat industries feel the heat

June 14, 2024 by rawan239

WithIndonesiabanning export of coal in January, industries using coal are feeling the heat. Indonesia, worlds largest exporter of thermal coal, has suspended exports of the fossil fuel due to concerns over dwindling supplies for its domestic power Plants.

The export ban has already led to coal prices both domestic and imported categories going up by Rs 1,000-3,300 per tonne in the local markets, depending upon the calorific values of the coal, said players on Monday. According to trade estimates, around 40,000 tonnes of coal is supplied every day to various industries across southGujaratfrom local Ports.
However, industries using coal claimed that they have stock of the fuel for a couple of weeks and they will not be affected

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by the price hike if the issue is resolved within a week.

E-commerce giant starts first digital centre in Gujarat

June 14, 2024 by rawan239

E-Commerce majorAmazon Indiastarted countrys firstDigital Kendrain Surat on Thursday looking at the areas dense Micro, Small and Medium enterprises (MSME) sector presence. It will be a physical resource centre for the companies to avail third party Services training on benefits of e-commerce, GST and support, shipping and Logistics support, cataloguing assistance among others.

Part ofAmazonIndias plan to digitize Indian MSMEs, the centre will provide local partners additional revenue channels while creating awareness and understanding of e-commerce, understanding the export markets and

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offer MSMEs the support to grow their businesses, the e-comm giant stated.

The company has also seen a rise in the number of sellers on its platform over the last one year.