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- Feed Preview Economy, Inflation, Micro Economy, Macro Economy, Government, Policy | The HinduBusinessLine
Civil societies urge MCA for 5-month extension on Digital Competition Bill comments
The MCA had initially set the deadline for public consultation for April 15, 2024, but later extended it by a month till May 15
Finance Ministry notifies new FDI limits for satellite-related activities under FEMA
Finance Ministry’s new FDI limits for satellite activities, effective April 16, allow 100% FDI in the space sector with specific limits for different activities
Revised India-Mauritius tax treaty to combat tax evasion
A revised tax treaty between India and Mauritius will be effective upon signing, without retrospective application
Govt considering bringing fertilizer subsidy benefits under Agriculture Ministry
Mulling fertilizer coupon as direct benefit transfer mode to pay subsidy to farmers
Tamil Nadu govt plans fourth auto cluster in Thoothukudi, to set up two more centres for EV industry
‘A strategy for transitioning to EVs will need to be tailored for each cluster, considering their specific profiles and the scale of businesses within them’
FinMin sets vehicle condemnation, scrappage timeline; to benefit auto cos like Maruti Suzuki, Tata Motors
Guidelines have also fixed the threshold for writing off losses in case of natural or man-made disasters
‘Disengagement and de-escalation’ the way forward, says Rajnath Singh to resolve boundary issues with China
Addressing top Army commanders, Defence Minister Rajnath Singh expressed full confidence in the troops for ‘standing firm’ to guard the LAC in Eastern Ladakh
Checking imports: CIL, SCCL to hold regular auctions for short term coal linkages to power plants
Power Ministry, in consultation with Coal Ministry, revised the allocation of coal under the SHAKTI policy
MCA appoints two part-time members to IBBI Governing Board
IBBI Governing Board is now in full strength in line with IBC requirement
CBIC issues new guidelines for GST investigations, including deadline to complete probe
The guidelines assign responsibility for approving investigations against various categories of taxpayers and set a deadline of one year to conclude the investigation
Withdraw proposed data usage restrictions on large digital platforms, recommends ESYA Centre Paper
Tech policy think tank wants MCA to do away with proposed ban on bundling and tying of products
Govt reimposes ALMM order on solar PV modules from April 1
In FY24, the ALMM was put on hold for the entire fiscal year to provide relief to solar PV manufacturers, who were faced with limited domestic availability
PM Modi to Bill Gates: Aim higher, surpass AI with innovation
Modi stresses AI ethics; discusses climate change, women empowerment with Gates
Streaming, linear broadcasters criticise proposed Indian broadcasting bill
The bill, currently in the drafting stage, aims to introduce new tiers for content regulation, including the Content Evaluation Committee and the Broadcast Advisory Council.
Centre notifies 3-10% MGNREGA wage hike for 2024-25
New rate effective from April 1; wage increase on similar lines as last year
Income Tax Dept sets high-risk value assessment guidelines for updated ITRs, AY 2021-22 filing deadline March 31
Updated and non-updated ITRs are classified as ‘High Risk’ under the E-Verification Scheme 2021, based on significant financial transactions and higher tax dues.
India’s EAM Jaishankar discusses bilateral ties with Singapore leaders
They discussed various topics including trade, semiconductors, space, green energy, supply chains, and defence
Rules for off-shore mineral block auctions under preparation: Mines Secretary
Some 10-odd mineral blocks are to be put-up for auction later this year, around June - July
Centre notifies fact check unit under PIB
New Delhi establishes fact check unit under PIB to combat fake news, sparking controversy and legal challenges
Eyeing South American defence market, India extends credit line of $23.37 million to Guyana for purchase of 2 aircrafts
The HAL will now enter into a contract for the export of two Dornier transport aircraft to Guyana at a cost of $23.37 million, says the Exim Bank HAL will now enter into a contract to supply two ...
Centre moots new exemptions framework for M&A deal reporting to CCI
Issues Draft Rules for the purpose, seeks public comments by Apr 10
Gujarat govt announces new procurement policy to encourage MSMEs and women entrepreneurs
Gujrat govt made ₹1.47 lakh crore worth of purchases under the existing policy in FY23
Navneet Kumar Sehgal appointed as new Prasar Bharati chairman
The appointment was made by the President on the recommendation of the Selection Committee for a three-year term or until Sehgal attains the age of seventy years.
Centre approves EV policy to attract foreign companies and promote manufacturing
The policy would attract global majors like Tesla
Supreme Court refuses to stay appointments of Election Commissioners despite concerns
The petitioners argued that the appointments were made hastily and without proper consideration, and that the new law, the Chief Election Commissioner and other Election Commissioners (Appointmen...
Govt approves EV policy to boost domestic manufacturing
The policy requires a minimum investment of ₹4,150 crore and encourages high volume production, economies of scale, and lower costs of production
An inclusive welfare programme is a pathway to good governance and achieving security in 2047
The survey reveals that 58 per cent% are still navigating the quest for basic needs- education, shelter, healthcare and meaningful employment
Government notifies new code to curb unethical practices by pharma companies
New guidelines prohibit pharma companies from offering gifts and travel facilities to healthcare professionals or their family members
AS Rajeev sworn in as Vigilance Commissioner
He has been a career banker with over 38 years of experience in four banks, namely, Syndicate Bank, Indian Bank, Vijaya Bank and Bank of Maharashtra
Cabinet approves ₹10,372 crore for IndiaAI mission
Aims to establish a comprehensive ecosystem for AI innovation
Govt approves scheme to develop industries in North East
The scheme is for a period of 10 years and entails financial outlay of ₹10,037 crore
Central Government employees and pensioners to receive 4% hike in DA and DR from January 1
The rise in DA will have an impact on various other allowances, such as transport allowance, daily allowance, and hostel subsidy for children education, which will be increased by 25 per cent
Cabinet approves nutrient-based subsidy for P&K fertilisers for kharif season
Subsidy outgo for the upcoming kharif season is estimated at ₹24,420 crore
CCI proposes reforms to “confidentiality ring” regime for efficient proceedings
The CCI has invited stakeholder comments on the draft changes until March 27
GST portal’s new data sharing mechanism to facilitate seamless credit for assessees
GST portal can now share data with public tech platform for seamless credit sanctioning, impacting compliance and innovation in fintech.
Govt amends electricity consumers rules to fast track rooftop solar installations
The amendments also provide for check meters to be installed by distribution companies in case of consumer complaints, to verify electricity consumption - Power Ministry
CCS approves ₹19,000 cr deal for 200 BrahMos missiles for Navy
The supersonic cruise missiles deal cleared by the CCS in a meeting last night will be deployed on Indian Navy warships, say government sources
I&B Ministry launches NaViGate, Press Sewa portals
To ensuring ease of doing business by fostering a more conducive business environment for newspaper publishers and TV channels
FDI liberalisation in satellite-related activities will pave way for galaxy of opportunities, says PM Modi
Industry expectsed larger share for India in global space sector
Greece PM Mitsotakis calls for stronger ties
Calling for a broad based partnership between two countries, Mitsotakis urged India Inc to explore investments in infrastructure, logistics and new sectors like hospitality and tourism
Former Bank of Maharashtra Chief Executive A S Rajeev appointed as Vigilance Commissioner
Rajeev had last week opted to voluntarily retire as BoM Chief Executive
Government extends 20% export duty on parboiled rice, zero-duty import for yellow peas
These decisions aim to manage rising rice prices, which have seen a 15% increase in retail and wholesale prices year-on-year
Union Cabinet expands National Livelihood Mission with new subsidy provisions
The revised scheme includes a 50% capital subsidy for establishing horse, donkey, mule, and camel entrepreneurship, with up to ₹50 lakhs for individuals and organizations
India opens space sector to 100% foreign investment with new FDI policy
Previously, FDI was only permitted through the government approval route.
No breakthrough at India-China military level talks to resolve outstanding border issues
The 21st round of India-China corps commander level meeting was held at Chushul-Moldo border on February 19, says the MEA
India, Greece to sign mobility pact soon, double trade by 2030: Modi
Cooperation deepening in security, defence, trade, investment, agri, education, tourism, says Greek PM
India’s digital growth: DPIs could drive $8 trillion economy by 2030, says Nasscom
Matured Digital Public Infrastructures like UPI and Aadhaar have already impacted 1.3 billion citizens, generating a value of $31.8 billion, equivalent to 0.9% of India’s GDP in 2022
CCPA releases draft guidelines for prevention of greenwashing
The draft guidelines stated that no person or organisation should indulge in greenwashing, also disclosures made regarding green claims should be easily accessible to consumers
Merchant Shipping Act recast in the works
New laws will include international conventions, facilitate ship registration and improve dispute resolution
Government saved over ₹20,000 crore through new accounting mechanisms, says FM Sitharaman
System needed a change as funds were sitting idly in bank accounts while the government borrowed and incurred interest, says Finance Minister Nirmala Sitharaman
Following Finance Commission report till the last word for transfer to States, says FM Sitharaman
FM denies allegations by Karnataka govt about tax devolution and grants-in-aid
Civil society groups express concern on changes proposed to Patent Rules, and its impact on access to medicines
It would also alter the character of India’s pharmaceutical sector, they said in a letter to the Commerce Minister
DGGI’s crackdown: ₹18,000 crore worth of GST evasion exposed, 1,700 fake ITC cases unearthed
The crackdown, part of a nationwide drive, has identified over 29,000 fake firms, detecting ₹44,015 crore in GST tax evasion with 121 arrests made so far.
Repeated flouting of RBI warnings may cost Paytm its payments bank licence
The central bank has given time to Paytm Payments Bank (PPBL) to wind down operations by March 15
Apurva Chandra appointed Health Secretary, Sanjay Jaju as new I&B Secretary
Sanjay Jaju has been appointed as the new Information and Broadcasting Secretary
All in all, no delay in implementation of PLI scheme: Goyal
PLI to only give a “kick-start”; ultimately industry has to compete
PM Suryoday Yojana: Low-income households to get free rooftop solar systems and power
A low-income household is being identified as one whose monthly electricity consumption is below or up to 300 kilowatts or unit
17th Lok Sabha may enter history with least number of lapsed bills
The government has been criticised for pushing legislation without meaningful debate
Pralhad Joshi unveils plan to shift imported coal-based power plants to domestic feedstock
With India’s coal production set to reach 1 billion tonnes in FY24, the ministry aims to cease imports by FY26 to meet rising power demands.
Finance Ministry raises import duties on gold and silver, targets tax advantage
All these now attract Agriculture Infrastructure Development Cess
Govt defers ₹5,000 crore spending on strategic petroleum reserves in FY24
Additionally, ₹15,000 crore will be allocated to OMCs for green energy initiatives.
Steel Min suspends 2 SAIL, 1 NMDC directors on Lokpal’s directions
SAIL emphasises its commitment to transparency and governance amid these developments, assuring stakeholders that business operations remain uninterrupted despite the suspensions.
Target to install 25 crore smart meters by 2025 unlikely to be met: ICRA
Of the 222 million meters sanctioned as of December 2023, 99 million meters have been awarded. However, the progress in installations remains low
India provides comprehensive data to US for bilateral social security agreement negotiations
India-US TPF on Friday to focus on non-tariff barriers, business visas, GSP
India holds back $600 million strategic oil reserve top-up
With limited storage capacity and efforts to reduce the fiscal deficit, India seeks to negotiate storage leases, but refiners have shown little interest.
Blocking the generation of E-Way Bill without e-Invoice/IRN has been withdrawn
The said notification was to come into effect from March 1, 2024
CCPA in process to finalise guidelines to curb misleading ads by coaching institutes
Guidelines state that coaching institutes cannot make false claims regarding success rates of selections or number of selections that may lead to misunderstanding among consumers
India-Maldives diplomatic row escalates, trade, industry bodies call for boycott of business dealings
Travel industry players suspend bookings & promote Lakshadweep as alternative tourist destination
Overhaul in pharma manufacturing: India imposes stringent quality controls
The shift involves introducing a Pharmaceutical Quality System, Quality Risk Management, and other pivotal changes to elevate industry standards.
EPFO extends deadline to upload wage details for higher pension options till May 31
With around 3.6 lakh pending applications, EPFO offers employers additional time to submit crucial wage details for pension validation.
Windfall levy on domestically produced crude raised, lowered on export-bound diesel, ATF
These changes follow a surge in crude prices, impacting oil exploration companies like ONGC and Oil India.
E-commerce policy in final stages of discussion: Goyal
E-commerce Export Handbook for MSMEs to act as guide for small players to onboard the platform
Presidential assent for Telecommunications, Post Office Bills
Both the Bills received President Droupadi Murmu’s assent on Saturday
Govt notifies rules for leasing of seabed to offshore wind power developers
The area covered under a lease shall ordinarily be 25 sq km to 500 sq km and the same may vary depending on the size of the project, the notification said
PAC raps Defence Ministry over sub-standard clothing, equipment and ration for soldiers at high altitude
‘The PAC had desired that the Directorate General of Quality Assurance be brought under the Services so as to make it more responsive and accountable’
Government introduces Bill to continue with protection of unauthorised colonies & slums in Delhi
The National Capital Territory of Delhi Laws (Special Provisions) Second (Amendment) Bill, 2023, was introduced in Lok Sabha by Union Minister Hardeep Singh Puri
Set to sign FTA with India and give basmati GI tag, EU plans to protect domestic rice industry
Proposes to impose barriers to new players in market, hike security deposit for default
New schemes in works for electronics component manufacturing: MeitY Secretary
The government is working on SPECS 2.0 which will be done after taking issues of the electronics industry into consideration
Criminal codes update: 90-day police custody extension and martial rape exclusion approved amid dissent
The dissenters cited concerns over extended detentions, handcuff use, marital rape exemption, and expansive sedition laws.
Narayana Murthy’s 70-hour workweek idea not under Government’s review
Murthy advocated for increased work hours in an October podcast, citing the need for higher productivity to compete with global counterparts like China, drawing parallels with Japan and Germany p...
Govt tweaks gold import policy to bolster yellow metal trade with UAE
India-UAE TRQ holders can import gold through Gift City based IIBX and obtain physical delivery from IFSCA approved vaults in SEZs, says DGFT
Broadcast Bill evinces mixed views from legal experts
Given the surge of digital content consumption Bill is in the right direction say experts but raise concerns regarding increase in compliances and impact on creative freedom
GST registration in Andhra Pradesh now requires biometric Aadhaar authentication to deter fraudulent entries
In Gujarat and Puducherry, the Finance Ministry previously implemented biometric-based Aadhaar authentication as a pilot to bolster registration processes and deter fraudulent entries.
Finance Ministry cuts SAED on crude: Impact on ONGC, Oil India & major fuel exporters
The Finance Ministry adjusted the Special Additional Excise Duty (SAED) on domestically produced crude, reducing it to ₹6300 per tonne from ₹9800, effective November 16.
Russia seals deal to supply Igla anti-aircraft missiles to India and permit local production
The deal echoes Russia’s dominance in India’s arms imports, accounting for 45%, while collaboration expands to aviation weapons and joint ventures in fighter jets, tanks, and AK-203 rifles.
Goyal: Tesla to double Indian component imports
Visiting Tesla’s Fremont facility, Goyal expressed pride in India’s growing role in Tesla’s EV supply chain.
Steel Ministry reviews PLI 1.0 scheme progress, eyes market entry for coated products
The PLI scheme, with 67 companies signing MoUs, targets an investment of ₹30,000 crore, promoting specialty steel production and generating 55,000 jobs.
I&B Ministry releases draft Broadcasting Services Bill for public consultation
The bill seeks to replace Cable TV Network Regulations Act
Deceased government employees’ spouses now eligible for senior citizen saving scheme
Additionally, the scheme can now be extended for multiple block periods of three years without the “only once” restriction.
India, US exploring new educational ties, reducing visa wait time: Blinken
India-US 2+2 Dialogue discussed multiple partnerships in trade and investment, technology, and critical and emerging technologies
Defence Minister approves extended maternity benefits to women soldiers
Defence Ministry said that this measure will improve the work conditions of women in the military and aid them to balance the spheres of professional and family life
Government prioritises processed food exports as restrictions on raw items increase in frequency
The share of processed foods in India’s agri export basket has increased from 14% to 27% in the past decade.
India set to auction valuable mineral blocks, including graphite, nickel, and chromium
The auctions follow sweeping amendments to the Mines and Minerals Act, allowing private investment in critical minerals.
Centre clears decks for CCI to issue guidelines on Competition law provisions
Latest MCA move to pave the way for competition regulator to soon issue much awaited penalty guidelines, say experts
Enhanced oversight: MCA mandates new designated person for beneficial interests in shares
MCA’s deeming provision ensures that until a designated person is appointed, existing officers like Company Secretaries or Directors assume the role.
Coal Ministry, MNRE collaboratefor green energy expansion
Work on 500 MW solar projects is at different stages, the Coal Ministry said
Finance Ministry notifies prospective 18% GST on parent company’s guarantees
Additionally, a separate notification allows suppliers to Special Economic Zones to claim GST refunds, easing working capital concerns for the domestic industry engaged in SEZ supplies.
Cabinet approves ₹22,303 crore subsidy on phosphorous, potash fertilisers for Rabi season
Lowest subsidy for potash in 25 years; imported MoP dropped to $319/tonne from $422/tonne in just two months
Northern Territory of Australia lures India with green hydrogen, critical minerals
Nicole Manison, Deputy Chief Minister of Australia’s Northern Territory, wrapped up her visit to India, aiming to strengthen ties and promote business opportunities.