The 13th Finance Commission, headed by Vijay Kelkar, is in the process of reviewing the devolution formula.

Commerce Ministry has asked the 13th Finance Commission to evolve a scheme for reimbursing exporters the state level taxes, which add 3-12 per cent to shipment costs making Indian products uncompetitive in the global market.

The Commerce Ministry has submitted a detailed presentation to the Finance Commission suggesting, among other things, that the Centre should be allowed to reimburse state taxes to exporters and later adjust the same from states' allocations in the resource pool.

"An appropriate provision for this may be incorporated in the final recommendations of the Finance Commission," the communication from the Commerce Ministry said. read more

source : http://economictimes.indiatimes.com/

The potential benefits of harvesting wind power

The Herkimer County Finance Committee on Monday heard a presentation on the financial impact of constructing wind turbines in local municipalities.
Keith Pitman, president and chief executive officer of Empire State Wind Energy (ESWE) based in Oneida County, provided an estimate of the potential benefits of harvesting wind power.
As opposed to other wind power payment in lieu of taxes (PILOT) programs, Pitman explained that his company, which he founded in partnership with New York entrepreneur Tom Golisano, offers net revenue sharing as part of its program.
The breakdown of this energy-sale profit sharing, thus far, involves anywhere from a 50 percent divide between developer and municipality; to 75 percent for the municipality and 25 percent for the developer, according to Pitman.
ESWE currently has eight formal agreements in place with townships in Wayne, Yates and Ontario counties, with none having completed projects, he said. read more

source : http://www.herkimertelegram.com/

A new finance director for the Blair County's Finance was officially hired on this Tuesday

Blair County Leaders are changing the way the County handles its money. A new finance director for the county was officially hired on this Tuesday.

Since the current Board of Blair County Commissioners took office back in January, they've been working to restructure the way the county handles its financial affairs. Another big step in that direction has been was taken. The Blair Commissioners say they are still a few weeks away from really getting to work on their spending plan for the coming year. But the ground work is being laid to keep tight controls over all county spending.

A draft report from the County's \Consultant is expected this week. That will be an over view of where the county stands and some recommendations as to how we can get to the end of the year incurring the least expenses according to Blair County Commissioner Diane Meling. read more

source : http://wearecentralpa.com/

Full-service investment dealer Raymond James Ltd. has released an extensive report on the Latin America mining landscape and investment opportunities

Full-service investment dealer Raymond James Ltd. has released an extensive report on the Latin America mining landscape and investment opportunities in the region.

The 165-page report is a detailed analysis of seven countries in the region and their relative attractiveness for mining investment, as well as investment cases for companies in the Raymond James research coverage universe that have exposure to the region.

“Latin America remains integral to the mining industry’s ability to meet the growing global demand for base metals and minerals,” says Tom Meyer, Raymond James analyst. “Our report is meant to provide investors with an overview of various mining jurisdictions in the region, as well as our best investment ideas. It underscores the fact that Latin America continues to be an important destination for mining investment.” read more

source : http://www.investmentexecutive.com/