INR 1 Lakh Cr Corpus for Private R&D Incentives: Budget 2024’s Big Reveal
In a major boost to the research and innovation ecosystem in India, Finance Minister Nirmala Sitharaman announced a corpus of INR 1 lakh crore to provide interest-free loans for up to 50 years to the private sector for pursuing research and development in sunrise sectors. This is expected to enhance the competitiveness and productivity of […]
97.50% Rs 2,000 Notes Returned: RBI Announcement
The Reserve Bank of India (RBI) has revealed on February 1 that 97.50% of the Rs 2,000 currency notes in circulation as of May 19, 2023, have been successfully reintegrated into the banking system. This development follows the government’s decision to withdraw the high-denomination bills as part of the clean note policy. What is the […]
Govt’s ‘Bharat’ Rice Now at ₹29/kg in Retail Market
Rice is one of the most consumed staple foods in India, especially in the eastern and southern regions. However, the prices of rice have been rising steadily in the last one year due to various factors such as lower production, higher demand, export restrictions and stock limits. According to the official data, the retail price […]
IBBI Simplifies Rules for Insolvency Professional Entities
The Insolvency and Bankruptcy Board of India (IBBI) has issued a circular on 1st February 2024 to provide clarity on some issues related to the role of Insolvency Professional Entities (IPEs) under the Insolvency and Bankruptcy Code, 2016 (IBC). What are IPEs? IPEs are entities that can act as Insolvency Professionals (IPs) under the IBC. […]
Govt Achieves 600 Lakh Tonnes Kharif Paddy Procurement
The government has achieved a milestone in the procurement of paddy grown in the kharif summer-sown season, surpassing the target of 600 lakh metric tonnes (LMT) for the Kharif Marketing Season (KMS) 2023-24. This has benefitted 75 lakh farmers across the country, who have received more than Rs.1,30,000 crores as minimum support price (MSP) for […]
SEBI Panel’s New Proposal: No Security Deposit for Public Issues
The Securities and Exchange Board of India (Sebi) is considering a proposal to scrap the mandatory security deposit that issuers have to pay to the stock exchanges before launching a public issue. This could lower the cost of raising funds from the capital market and make it more attractive for companies. The proposal was made […]
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 […]
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 […]