Zomato Introduces Daily Payouts to Boost Cash Flow for Small Restaurants
Zomato, one of the leading food delivery platforms in India, has announced a new feature called Daily Payouts for its restaurant partners. The feature, which is currently available to restaurants that receive 100 or fewer orders a month, aims to improve the cash flow situation of small eateries that face financial challenges with the current […]
From Rs 1 Trillion This Fiscal to Rs 2.5 Trillion by 2030: The Growth Trajectory of Annual Loan Sanctions
Introduction India is witnessing a surge in annual loan sanctions to various sectors, especially renewable energy, roads and highways, and logistics. The government has been promoting entrepreneurship among women, Scheduled Castes (SCs) and Scheduled Tribes (STs) through the Stand-Up India Scheme, which has facilitated more than 1.33 lakh new job-creators and entrepreneurs in six years. […]
Rural Jobs Outlay May See 50% Hike for Women and the Poor in Interim Budget
Introduction The government is likely to allocate around Rs 90,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the Budget estimate (BE) for 2024-25, an increase of 50% over 2023-24 BE, in a strong signal to the poor ahead of approaching general elections. Background MGNREGS is a flagship scheme that provides […]
Indian Exporters Must Adapt as EU Shifts to Paperless Customs System from June
The European Union (EU) is moving towards a paperless and risk-based import compliance system, implementing the second phase of its Import Control System (ICS) from June 3, 2024. This change will affect Indian exporting firms, as the EU accounts for about 17% of India’s total merchandise exports. What is ICS2 and how does it work? […]
Hybrid Cars May See Tax Rationalisation: Government Deliberation
The Indian government is considering reducing the tax rates on hybrid vehicles, which are currently higher than those on electric vehicles (EVs). Hybrid vehicles use both an internal combustion engine (ICE) and an electric motor to power the wheels, resulting in lower emissions and better fuel efficiency than conventional petrol or diesel cars. Current Tax […]
How the Supreme Court Settlement Affects Personal Insolvency of Corporate Guarantors: An Insolvency Code Perspective
The Supreme Court of India recently delivered a landmark judgment that upheld the validity of the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) that enable creditors to initiate insolvency proceedings against personal guarantors of corporate debtors. This ruling has far-reaching implications for the resolution of bad debts and the protection of creditors’ rights […]
PM MITRA Parks Expected to Bring ₹70,000 Crore Investment and 21 Lakh Jobs: Indian Government
The Indian government has announced the sites for setting up of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks for the textile industry. The parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra. The scheme is inspired by the 5F vision of Prime Minister Narendra […]
Report: India Plans to Double Cash Support for Women Farmers Before Lok Sabha Election
Background Prime Minister Narendra Modi’s government is considering doubling the annual payout to landowning female farmers to Rs 12,000, three sources with knowledge of the matter told Reuters, a move likely to appeal to women voters ahead of a general election. The plan is likely to be announced in the budget on February 1 and […]
Report: Chinese Smartphone Makers Intensify Indian Market Competition with Increased Retail Margins
Chinese smartphone manufacturers are intensifying competition in the Indian handset market by providing greater margins to retailers and distributors than their competitors, according to a report by the Economic Times. This comes amid increased government oversight in the industry, especially for Vivo, whose interim chief executive officer was recently arrested and released on bail under […]
“West Bengal Coastal Regions to Witness the 12th Phase of ‘Sagar Parikrama’ Starting Wednesday
The 12th phase of ‘Sagar Parikrama’, a flagship programme of the Ministry of Fisheries, Animal Husbandry and Dairying, will commence on Wednesday, January 10, 2024, covering the coastal regions of West Bengal. The programme aims to resolve the issues of fishermen and other stakeholders and facilitate their economic upliftment through various schemes and initiatives. Sagar […]