ADB’s Rs 1,250 Cr Green Bonds Issued in Local Market
The Asian Development Bank (ADB) has issued its largest local currency green bond to date, raising Rs 1,250 crore (about $150 million) to finance renewable energy and green finance projects in India. The bond is structured as a 4-year currency-linked bond, with a bullet repayment at maturity and carrying a fixed interest rate of 6.72% […]
Promoting Women in Workforce: Labour Ministry’s New Advisory
The Union government has issued an advisory to employers to promote women workforce participation across various sectors. The advisory aims to create a conducive environment for women workers and entrepreneurs, and to address the gender gap in the labour market. Women constitute nearly half of the population of India, but their participation in the workforce […]
Import Duty for Mobile Parts in India Down to 10%
The Indian government has reduced the import duty on mobile phone components from 15% to 10%. This decision impacts a variety of components including battery covers, lenses, antennas, SIM sockets, and various mechanical and plastic items. The move is aimed at boosting exports from Asia’s third-largest economy and attracting more investment from global smartphone makers […]
Sources: Govt. Mulls Customs Duty Changes on 40+ Products to Promote Make in India
The government is considering changes in the customs duty structure on more than 40 products, including electronics, chemicals, textiles and automobiles, to boost domestic manufacturing and reduce imports, sources said. According to the sources, the finance ministry has sought inputs from various ministries and departments on the products that can be considered for duty rationalisation […]
HC Approves GST ‘Anti-Profiteering’ Clause
The Delhi High Court has upheld the constitutional validity of the anti-profiteering clause in the GST law, which requires companies to pass on the benefit of lower taxes and input tax credit to consumers. The ruling will affect over 100 companies that had challenged the provision and the orders of the National Anti-Profiteering Authority (NAA). […]
GAIL and Adnoc Sign Gas Agreement
GAIL (India) Ltd, the country’s largest gas company, has signed a long-term LNG purchase agreement with Abu Dhabi National Oil Company (ADNOC) Gas for around 0.5 million tonnes per annum (MMTPA) of liquefied natural gas (LNG), the Indian firm said in a statement on January 29, 2024. This is the second long-term LNG deal that […]
Bamboo Refinery in Assam Attracts Investors
Assam, a state in northeastern India, is home to the country’s first bamboo-based bio-refinery, a joint venture between Numaligarh Refinery Ltd (NRL), Fortum, and Chempolis. The refinery, which plans to start producing ethanol from bamboo in March 2024, has generated interest among private investors from various sectors, such as tea estates, cotton traders, coal-based power […]
PM Lays Foundation for Rs 19,100 Crore Projects in Bulandshahr
Prime Minister Narendra Modi launched a slew of development projects in Bulandshahr district in western Uttar Pradesh on Thursday, January 25, 2024. The projects, worth over Rs 19,100 crores, are related to several important sectors like rail, road, oil and gas, urban development and housing. Rail Projects One of the major projects that PM Modi […]
RBI Approves LIC’s Strategic Investment in HDFC
The Reserve Bank of India (RBI) has given its approval to the Life Insurance Corporation of India (LIC) to acquire up to 9.99% stake in HDFC Bank, one of the leading private sector banks in India. This strategic investment will strengthen the partnership between the two financial giants and create value for their customers and […]
GSTN: Submit Bank Details in 30 Days to Avoid Suspension
The GST Network (GSTN) has issued an advisory to GST-registered businesses to furnish their bank account details within 30 days of grant of GST registration or before the due date of filing GSTR-1/IFF, whichever is earlier, to avoid suspension of their GSTIN. Why is it important to submit bank account details? According to the GST […]