business and finance

The marine imbroglio



  • R K Nair

business and finance

Attukal Pongala



  • R K Nair

business and finance

Government reduces windfall tax on crude oil to ₹5,700 per tonne

The tax, levied as Special Additional Excise Duty (SAED), aims to moderate the impact of rising oil prices on consumers.




business and finance

GST portal: Pan masala, tobacco manufacturers to register their machines

GST portal introduces forms for manufacturers of pan masala and tobacco to register machines and track inputs/outputs




business and finance

India imposes anti-dumping duty on pentaerythritol imports from China, Saudi Arabia and Taiwan

Kanoria Chemicals had filed the petition seeking anti dumping probe




business and finance

India steps up critical mineral acquisition plans in Africa, challenging China’s dominance

Race for critical minerals primarily focuses on cobalt and copper – key EV battery making metals, apart from lithium.




business and finance

Finance Minister is now final authority to grade CPSEs

Proposals for upgrade or downgrade CPSEs need no longer be referred to Cabinet Secretariat and Public Enterprises Service Board




business and finance

FAME-III scheme unlikely to extend benefits to hybrid vehicles as govt focuses on EVs, cabinet note ready

Maruti Suzuki India, Toyota and Hyundai Motor have been lobbying for tax cuts on hybrid vehicles




business and finance

Foreign brokerages say BJP’s lower-than-expected victory to delay tough reforms but expect policy continuity

Foreign Brokerages predict fiscal consistency with a populist twist under Modi 3.0




business and finance

Day 1 of Modi 3.0: PM signed file to release Kisan Nidhi, Cabinet approves 3 cr homes

PM Kisan Nidhi provides income support to 14.5 crore small and marginal farmers




business and finance

Lt Gen Upendra Dwivedi appointed as next Chief of Army Staff

Lt. Gen Dwivedi brings extensive experience in military operations, technology integration, and strategic leadership, having served in various command and staff appointments throughout his illustrious 39-year career




business and finance

MoS Kirti Vardhan Singh heads to Kuwait amid fire tragedy, expects clarity upon arrival

The Indian Embassy in Kuwait has set up a helpline for family members, and Prime Minister Modi has announced an ex-gratia relief of ₹2 lakh for the families of deceased Indian nationals




business and finance

NDA Govt under CM Chandrababu Naidu to implement major policy overhaul in Andhra Pradesh

Andhra Pradesh Chief Minister Chandrababu Naidu expected to personally examine policy changes in all departments




business and finance

Atmanirbhar push: MoD requests 156 LCH Prachand from HAL for Army and IAF

Of the 156 helicopters, 90 are designated for the Army Aviation Corps and 66 for the Indian Air Force 




business and finance

Cabinet clears ₹2,254 crore for national forensic infra enhancement scheme

Under this scheme, the MHA will establish campuses of the National Forensic Sciences University and central forensic science laboratories in the country




business and finance

Indian government hikes kharif crops support price by 1-13%

Farmers will receive ₹2-lakh crore from the new minimum support prices




business and finance

Govt approves viability gap funding for offshore wind energy projects

The outlay also includes ₹6,853 crore for installation and commissioning of 1 GW of offshore wind energy projects and a grant of ₹600 crore for upgradation of two ports to meet logistics requirements for offshore wind energy projects




business and finance

₹76,000-cr greenfield Vadhavan Port gets Cabinet nod

The greenfield port will be a key infra asset in IMEEEC project




business and finance

Union Cabinet announces economic decisions worth over ₹2.88-lakh crore

These include the MSP hike for 14 Kharif crops, Varanasi airport expansion, and a new major port at Vadhavan




business and finance

Consumer Affairs Ministry releases draft guidelines to curb pesky promotional calls, messages

Draft guidelines released by DoCA protect consumers from unsolicited and unwarranted communications business communication




business and finance

Centre notifies new Telecom Act effective June 26, replaces 138-year-old Telegraph Act

Key provisions include user protection, reforms in the right of way, optimal spectrum utilisation, and the introduction of biometric identification for new SIMs




business and finance

PM Modi pledges threefold effort and results in third term; appeals for responsible Opposition

Emphasising the increased responsibility following a significant electoral victory, Modi promised to work harder and achieve greater outcomes 




business and finance

CBIC issues valuation norms for foreign company supplies to Indian subsidiaries

Additionally, CBIC clarified that for calculating the time limit to avail ITC under the Reverse Charge Mechanism, the relevant financial year will be when the recipient issues the invoice




business and finance

Interest subsidy scheme for exporters extended for 2 months for MSMEs

Claims of non-MSME exporters not to be entertained beyond June 30, 2024, says DGFT




business and finance

Periodic review likely of PSBs, CPSEs employees

New instructions from DoPT require PSUs and Banks to review employees monthly for integrity and effectiveness.




business and finance

Govt hikes NDRF risk and hardship allowance by 40%: Amit Shah

Union Home Minister Amit Shah made the announcement at the Flag-in ceremony of the NDRF’s Mountaineering Expedition Vijay, emphasising the crucial role NDRF plays in national and international disaster response




business and finance

Modi pivots to welfarism, free private sector growth

PM’s replies to the debate in Parliament with aggressive rebuttal of the Opposition’s barbs and a vision for the economy




business and finance

Self-declaration for advertisers limited to food, health sectors

I&B Ministry stated that advertisements issued for products related to food and health sectors will be required to upload an annual self-certificate on the Broadcast Seva Portal and Press Council of India portal.  




business and finance

Government reconstitutes 8 Cabinet Committees

Government has reconstituted 8 Cabinet Committees with the Prime Minister heading six of them.




business and finance

Govt announces guidelines for funding testing facilities under National Green Hydrogen Mission

With a budget of ₹200 crore till FY26, the scheme aims to support the development of standards and regulatory frameworks in the Green Hydrogen sector.




business and finance

On eve of Modi’s Moscow visit, Indo-Russia JV delivers 35,000 AK-203s to Indian Army

The Indo-Russian Rifles Private Ltd, a joint venture between India and Russia, has production facility at Amethi, UP and is expected to manufacture more than 600,000 rifles as per a deal between the two sides




business and finance

UP’s subsidy policy on strong hybrid cars different from FAME scheme: officials

The policy offers no registration cost for strong hybrid vehicles and provides a subsidy of ₹1 lakh or 15% of the ex-factory cost to customers, with a total outlay of ₹250 crore for 25,000 units




business and finance

Karnataka temporarily suspends job quota bill after backlash from industry

Influential figures such as Kiran Mazumdar-Shaw and TV Mohandas Pai had voiced strong opposition to the draft bill, citing concerns about its potential impact on business activities and the overall investment climate




business and finance

New MCA rule allows Directors to update KYC details throughout the year

This change offers more flexibility compared to the previous system, which only allowed updates during the annual KYC filing




business and finance

Two pre-Independence era acts to be re-enacted: Aircraft Act and Boilers Act get modern overhaul

In the upcoming Lok Sabha session, the Government will re-enact the Aircraft Act of 1934, introduce the Coffee Promotion Bill, and revamp the Indian Boilers Act of 1923 to modernise regulations and support the ‘Make in India’ initiative




business and finance

Oil Ministry announces plans for energy security fund

The Minister highlighted the importance of creating an energy security fund and exploring rare earth minerals




business and finance

Health Ministry directs FSSAI to waive off registration fee for street food vendors

Union Health Minister, Jagat Prakash Nadda also stressed on providing ‘Street Safe’ Rapid Testing Kit to ensure safe food is used by street food vendors and highlighted the need to empower them by enrolling them on food delivery platforms




business and finance

Budget 2024: ₹5,000 monthly internship allowance announced for 1 crore youth

Internship scheme aims to create job opportunities in top 500 companies over next five years




business and finance

Union Budget 2024-25: India slashes aid to Maldives, boosts support for Sri Lanka and Mauritius

Aid to the Maldives has been cut by 48%, reducing the grant from ₹770 crore to ₹400 crore, reflecting strained diplomatic ties following the election of pro-China President Mohamed Muizzu.




business and finance

Disaster management Bill tabled in LS; Opposition says Bill encroaches on States’ jurisdiction

Centre asserts that there is no interference in the rights of the States as disaster management is the first responsibility of the States.




business and finance

Govt issues fifth draft notification to declare Western Ghats as ecologically sensitive area

The notification aims to safeguard the region by prohibiting activities such as mining, quarrying, sand mining, and new thermal power projects, while also restricting large-scale construction projects and townships




business and finance

Govt set to bring in changes in banking laws

Amendments likely to raise number of nominees in a bank account to 4



  • Money & Banking

business and finance

Oil Ministry introduces Bill to amend Oilfields Regulation Act

Oil Ministry’s move to enhance the ease of doing business in the exploration and production sector




business and finance

Nirmala Sitharaman introduces Banking Laws (Amendment) Bill in Lok Sabha

The Bill seeks to give customers an option to increase the number of nominees per bank account to four, from existing one, among others




business and finance

Entering a decade of financial inclusion: PMJDY reaches 53 crore beneficiaries and ₹2.28 lakh crore in deposits

The scheme has largely been women-centric with 29.48 crore beneficiaries while 35.27 crore of total accounts are from rural and semi-urban branches




business and finance

Govt issues operational guidelines for under PM-Surya Ghar: Muft Bijli Yojana

A total financial outlay of ₹800 crore has been allocated for this component, providing ₹1 crore per selected model solar village, the Ministry said




business and finance

Andhra to announce new industrial, liquor policies soon

Pharma, automobiles, mining, energy and shipping, likely to be given special thrust by the State Government




business and finance

DPIIT may take a relook at FDI restrictions from China in policy review: Sources

No country in the world has been able to decouple with China, says Commerce Secretary




business and finance

Government partners with MicroSave to optimise Community Investment Support Fund

MicroSave has signed MoU with Rural Development Ministry on July 29




business and finance

Govt supports e-commerce but demands fair play and honesty, says Piyush Goyal

Goyal highlighted the benefits of e-commerce while expressing concerns about predatory pricing practices and the need to protect small retailers