The Government of India, vide Notification No. S.O. 2113(E), dated 22 August 2014, has reviewed its policy for private investment in rail infrastructure and amended the list of industries reserved for public sector under item No. 8 of Schedule I of the Notification No.S.O.477(E) dated 25 July 1991. Accordingly it has been decided to permit FDI in the following activities of the Railway Transport sector.
On a review, it has been decided to simplify the procedure by delegating powers to the AD Category – I banks to approve even those cases where the AMP of the fresh ECB is exceeding the residual maturity of the existing ECB under the automatic route subject to the following conditions:
Notification No. 26/2014–Central Excise (N.T.) Dated- 27th August, 2014 (1) These rules may be called the CENVAT Credit (Eighth Amendment) Rules, 2014. (2) They shall come into force from the date of their publication in the Official Gazette.
Norms for contribution to Core SGF as well as default waterfall have been specified with a view that all the stakeholders (CC, SE and CMs) are incentivised to adequately monitor the risks brought into the system.
