UPI Payments Now Accepted for Eiffel Tower Visits
Indian tourists visiting the iconic Eiffel Tower in Paris can now buy tickets via Unified Payments Interface (UPI) mechanism, a payment service that simplifies the transaction process. This is the result of a partnership between NPCI International Payments Limited (NIPL) and Lyra, a leading French expert in e-commerce and proximity payments. What is UPI and […]
RBI Cautions Against Sharing KYC Docs with Unknown Entities
The Reserve Bank of India (RBI) has issued a warning to the public against frauds in the name of KYC updation and advised not to share documents with unknown entities . According to the RBI, some customers have received unsolicited communications, including phone calls/SMS/emails, through which they are manipulated into revealing personal information, account/login details, […]
₹98,418 Cr for Jal Shakti Ministry, Maximum for Jal Jeevan Mission
The interim budget for 2024-25 has given a huge boost to the Jal Shakti Ministry, which has been allocated ₹98,418 crore, a 1.94 percent increase from the previous year. The ministry is responsible for ensuring water security and sanitation in the country, and its flagship program, the Jal Jeevan Mission, has secured a significant portion, […]
Direct, Indirect Taxes Make Up 63% of Govt Revenue
The Indian government relies heavily on direct and indirect taxes to fund its various expenditures and programs. In the fiscal year 2023-24, the government expects to collect Rs 24.23 lakh crore from taxes, which is about 63% of its total revenue receipts of Rs 38.36 lakh crore. Direct taxes are those that are levied on […]
₹7.87 Lakh Paid to Sebi in AIF Rule Violation Settlement
Alternative Investment Funds (AIFs) are funds that invest in alternative assets such as private equity, venture capital, hedge funds, real estate, infrastructure, etc. AIFs are regulated by the Securities and Exchange Board of India (Sebi) under the Sebi (Alternative Investment Funds) Regulations, 2012. One of the key regulations for AIFs is the concentration limit, which […]
Finance Minister’s Green Initiatives in Interim Budget
Finance Minister Nirmala Sitharaman presented the interim budget for 2024 in the Parliament on February 1, 2024. The budget highlighted the government’s commitment to clean energy and sustainability, as well as its efforts to create a blue economy. Here are some of the key green initiatives announced by Sitharaman in her budget speech. Rooftop Solar […]
₹1.68 Lakh Cr Allocated to NHAI for FY25: FM
Finance minister Nirmala Sitharaman on Feb. 1 marginally increased allocation to State-owned National Highways Authority of India (NHAI) to ₹1.68 lakh crore for 2024-25 from last year’s revised allocation of ₹1.67 lakh crore . The pre-election Budget 2024-25 document has allocated a marginally enhanced outlay of ₹2.78 lakh crore for the highways sector . NHAI’s […]
Sugar Subsidy Scheme for AAY Families Extended till 2026
The government has announced the extension of the sugar subsidy scheme for Antyodya Anna Yojna (AAY) families for two more years till March 31, 2026. The scheme provides subsidized sugar to the poorest of the poor through the Public Distribution System (PDS). The decision is expected to benefit about 1.89 crore AAY families across the […]
Three New Economic Corridors for Railways: FM
In her Interim Budget speech delivered in the lower house of parliament, Finance Minister Nirmala Sitharaman announced a substantial allocation of Rs 2.55 lakh crore for capital expenditure for the Indian Railways, along with three new railway economic corridors to reduce congestion and logistics costs in India. She also proposed that around 40,000 normal rail […]
Cabinet Approves Marketing Margin for Urea Plants’ Gas Supply
The Union Cabinet, led by Prime Minister Narendra Modi, has approved the determination of marketing margin on the supply of domestic gas to Fertilizer (Urea) Units for the period from May 1, 2009 to November 17, 2015. This approval is a structural reform that aims to provide additional funds to various Fertilizer (Urea) Units for […]