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Time of India
42 minutes ago
- Time of India
Spy planes, minesweepers: Nod for 1L crore purchases
AI generated image for representation NEW DELHI: The defence ministry gave preliminary nod Thursday to three major acquisition projects and seven smaller ones, collectively worth over Rs 1 lakh crore, ranging from specialised spy aircraft and advanced minesweepers to quick-reaction air defence missiles and underwater autonomous vessels. The biggest project to get "acceptance of necessity" (AoN), which is just the first step in the long-winded procurement process, was for the indigenous construction of 12 mine countermeasure vessels for around Rs 44,000 crore, which will take almost a decade, sources told TOI. These specialised warships, each with a displacement of 900-1,000 tonne, will be capable of detecting, tracking and destroying underwater mines laid by enemy forces to choke harbours and ports, disrupt shipping and maritime trade. QRSAMs designed to intercept hostile fighters These specialised warships are crucial amid the expanding maritime collaboration between China and Pakistan. At present, the Navy makes do with just "clip-on mine countermeasure suites" mounted on some ships to plug the major capability gap. The second big project was the Rs 36,000 crore procurement of the new quick-reaction surface-to-air missile (QRSAM) systems developed by DRDO , with three regiments for the Army and three squadrons for IAF. Overall, the Army Air Defence has projected a requirement of 11 such regiments. These highly mobile QRSAMs, designed to intercept hostile fighters, helicopters and drones at ranges up to 30km, will add to the country's multilayered air defence network that played a crucial role in thwarting multiple waves of Turkish-origin drones and Chinese missiles launched by Pakistan during Operation Sindoor May 7-10 hostilities. The third major project was for three ISTAR (intelligence, surveillance, target acquisition & reconnaissance) planes, designed to identify and help target high-value enemy targets on ground with greater precision and accuracy by fighter jets & missiles, for around Rs 10,000 crore. These aircraft will be equipped with a wide array of indigenous sensors & systems developed by DRDO, like synthetic aperture radars, electro-optical and infrared sensors, for gathering "actionable intelligence" in real time on enemy infrastructure, build-ups and movements. Another project granted AoN was for semi-submersible autonomous vessels for ISR missions. They will be acquired under 'Make-II' category project, where prototype development is funded by the industry. AoNs were accorded for procurement of armoured recovery vehicles, electronic warfare systems and tri-Service integrated common inventory management system for better supply chain management.
Time of India
43 minutes ago
- Time of India
Bagalkot to get a mega market at Navanagar
Bagalkot: A blueprint for the construction of a mega market yard spread over 200 acres in Navanagar third unit of Bagalkot has been prepared. The estimated cost is Rs 380 crore and the proposal will soon be submitted to the govt. Bagalkot which has the tag of a submerged town has been split in three parts — Bagalkot, Navanagar and Vidyagiri. Though there are markets in all three suburbs, the traders are not happy with the business turnover. They have been demanding for decades, construction of a mega market yard at one place so that they could do business with ease. They had also submitted a memorandum in this connection to MLA HY Meti, who is the chairman of Bagalkot Town Development Authority (BTDA). Taking a serious cognisance of the demand, Meti had convened a meeting of BTDA officers and directed them to prepare a detailed report for reserving 200 acres for the construction of a mega market yard in new Navanagar third unit which is coming up. A proposal had been sent to the urban development department to get 200 acres out of 1,600 acres in Navanagar third unit converted from residential into commercial land. But the urban development department has written back saying a suitable decision could be taken at the Bagalkot Urban Development Authority (Buda) meeting as Bagalkot has a town development authority. Now, the ball is in the court of Buda but there are apprehensions about a favourable decision. Sources said the hurdles due to technical reasons could be overcome if the govt intervenes. The blueprint prepared presents a beautiful picture of the market yard. It contains provision for sale of essential commodities, food park, hospitality sector, retail trading, luxury market, emergency services, parking facility, rain water harvesting and public toilets among others. Since Navanagar third unit lies in the heart of the city, it is expected to be convenient for the residents of Bagalkot, Navanagar and Vidyagiri and pave the way for a drastic increase in business. MLA Meti said the blueprint for the centralised market yard is ready and it will be approved after consulting the traders and other stakeholders. "Efforts will be made to start construction at the earliest," he said.
Time of India
43 minutes ago
- Time of India
Govt to broaden amnesty for pending pre-GST taxes
Mumbai: The state govt is expecting to unlock Rs 20,000-25,000 crore pending as outstanding taxes from public sector units, financial institutions, and infrastructure holding companies of state and central govts since before the introduction of GST in 2017 by offering an amnesty. On Thursday, the state finance department proposed an amendment to its Maharashtra Settlement of Arrears of Tax, Interest, Penalty for Late Fee Act 2025 to make the amnesty scheme more comprehensive by including tax-paying PSUs, banks, and infrastructure companies from whom thousands of crores are due. The amendment, tabled in the state legislative assembly, will be discussed prior to approval. "Earlier in March, when the Act was passed, public sector units registered under the Companies Act were mentioned. However, we missed including those which are registered as state or central govt enterprises, authorities, or entities," said a senior SGST official. Such an amendment, tax experts say, will help the state recover at least Rs 10,000 crore in taxes pending with banks, municipal bodies, and infrastructure companies such as Mhada, MSRDC, MMRDA, besides PSUs like HPCL, BPCL, IOC, Mazagon Dock Ltd, etc. In March this year, Hindustan Aeronautics Ltd paid pending dues worth Rs 2,471 crore soon after the Maharashtra Settlement of Arrears of Tax, Interest, Penalty for Late Fee Act 2025 was passed. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 평균 뱃살 "20cm"콸콸! 굶지 않고 빨리 똥뱃살 잡는 방법 중년 복부비만 DIET 더 알아보기 Undo You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai "There is a large amount of levy of tax being litigated by the corporations, public sector banks, departments, rural or urban local bodies or authorities, enterprises or entities which are registered under the Central Acts other than the Companies Act 2013 or State Acts or are constituted by the govt resolutions. To unlock the amount involved in the outstanding dues of taxes and reduce the old pending litigations, the govt considers it expedient to provide for a lump sum payment option for settlement of arrears of tax, interest, penalty, or late fees and closure of old pending litigation. It is therefore proposed to amend the Act suitably," the copy of the bill said.
