AIIB invests $58.4 million in India’s largest renewable energy InvIT
The Asian Infrastructure Investment Bank (AIIB) has become an anchor investor in India’s largest renewable energy Infrastructure Investment Trust (InvIT) with an investment of INR 4.86 billion (around USD 58.4 million equivalent). The InvIT, named Sustainable Energy Infra Trust (SEIT), has eight operating solar power plants with a total capacity of 1.54 gigawatt-peak across India. […]
Gold, Silver Coin Import Duty: Centre Announces 15% Hike
The government has announced an increase in import duties for gold and silver findings, as well as coins made of precious metals. The new duty rate is 15%, which includes a Basic Customs Duty (BCD) of 10% and an Agriculture Infrastructure and Development Cess (AIDC) of 5%. However, this increase does not apply to the […]
PM’s Suryodaya Yojana: 10M Rooftop Solar Homes
What is Suryodaya Yojana and why is it important? Pradhanmantri Suryodaya Yojana is a scheme launched by Prime Minister Narendra Modi on January 22, 2024, immediately after his visit to Ayodhya for the consecration of Ram temple . The scheme aims to install rooftop solar systems in 10 million (1 crore) houses across India, especially […]
Rodtep Reimbursements: Govt’s Documentation Strategy
The RoDTEP (Remission of Duties and Taxes on Export Products) scheme is a new initiative by the Indian government to boost exports and make them more competitive in the global market. The scheme aims to refund the embedded taxes and duties that were previously non-recoverable by the exporters. The scheme covers all sectors, including textiles, […]
IFSC’s Expanded Financial Services: A Government Initiative
The government of India has recently widened the ambit of financial services that can be undertaken at the International Financial Services Centre (IFSC) by incorporating services such as book-keeping, accounting, taxation, and financial crime compliance. As per a gazette notification issued by the Ministry of Finance on January 18, 2024, these services are now part […]
Ayodhya’s $10B Revamp: A Boost for Indian Tourism
Ayodhya, an ancient city in Uttar Pradesh, is revered by millions of Hindus as the birthplace of Lord Ram, the hero of the epic Ramayana. For decades, the city has been at the center of a religious dispute over the site where a 16th-century mosque once stood, which many Hindus believe was built over an […]
India’s Coal Power Up by 10.13%, Aims for Self-Reliance
India has witnessed a remarkable growth in coal-based power generation, which accounts for more than 70% of the total power supply in the country. The domestic coal production has also increased, reducing the dependence on imported coal and saving foreign reserves. Growth in coal-based power generation and production Coal is the major source of power […]
Startups Lead in Gig Worker Recruitment: Nasscom-Indeed
The gig economy is transforming the traditional job market and creating new opportunities for both employers and workers. According to a survey by Nasscom, Indeed and AON, 84% of organizations in India are exploring or open to gig models, with startups and the BPM sector leading in gig worker hiring. What is the gig economy? […]
India-EU Trade Deal Nears Completion After 16 Years
India and the European Union (EU) are on the verge of concluding a trade agreement that will boost their economic ties and create new opportunities for businesses and consumers. The deal, which has been under negotiation since 2007, covers a wide range of areas, such as tariffs, services, investment protection, geographical indications, and trade and […]
India’s Budgeting: A Look at the Process and Legal Mandates
The budget is an annual financial statement of the government’s revenues and expenditures for a financial year. It is a crucial document that reflects the government’s priorities, policies and programmes. The budget also serves as a tool for accountability, transparency and fiscal discipline. Process of Budgeting The process of budgeting in India involves several stages, […]