CCEA’s Seal of Approval for Sulphur Coated Urea at ₹266.50 per 40 kg Bag
Introduction The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved a special package of innovative schemes for farmers with a total outlay of Rs.3,70,128.7 crore. The package aims to boost the welfare and economic well-being of farmers by promoting sustainable agriculture. The initiatives will enhance farmers’ income, strengthen natural […]
India Sets New Drug-Making Standards After Deaths Abroad
In the wake of recent reports of India-made cough syrups causing the deaths of dozens of children in Uzbekistan and Gambia, the Indian government has announced new measures to improve the quality and safety of its drug manufacturing industry. India, which is one of the world’s largest producers and exporters of generic medicines, has faced […]
MSME Ministry’s 2023 Report Card: Performance of Key Schemes Analyzed
The Ministry of Micro, Small and Medium Enterprises (MSME) is one of the key drivers of India’s economic growth and social development. The MSME sector contributes about 30% to the GDP, 48% to the exports and provides employment to over 110 million people. The ministry has been implementing various schemes and programs to support and […]
Farmer Assistance and Pulse Self-Sufficiency: Government Launches New Portal
The government of India has launched a new portal to provide assistance to farmers and to achieve self-sufficiency in the production of pulses. The portal was inaugurated by the Home Minister Amit Shah on January 5, 2024, in New Delhi. Portal Features The portal, named as “Pulse India”, aims to provide a one-stop solution for […]
India Boosts Crude Windfall Tax by Rs 1,000; Nullifies Diesel, ATF Taxes
What is the windfall tax? A windfall tax is a levy imposed on domestic crude oil producers and exporters of petroleum products when the global oil prices or refining margins rise above a certain threshold. The tax is aimed at capturing the excess profits of the energy companies and discouraging exports of fuel. What are […]
Mandatory B2B E-invoice Details for E-way Bill Generation from March 1
From March 1, 2024, businesses with turnover above Rs 5 crore will not be able to generate e-way bill without including e-invoice details for all B2B transactions. This is a new rule introduced by the government to ensure better compliance and prevent tax evasion under the GST regime. What is an e-invoice? An e-invoice is […]
RBI’s Introduction of Card Tokenisation: A Leap Forward for Bank-Level Security
The Reserve Bank of India (RBI) has recently introduced a new feature for card transactions, called card tokenisation, which aims to enhance the security and convenience of customers. Card tokenisation is the process of replacing the actual card details, such as the card number, expiry date and CVV, with an alternate code called the “token”, […]
Railway MoU with USAID Gets Cabinet Approval: A Step Towards Energy Efficiency
The Indian government has approved a Memorandum of Understanding (MoU) between Indian Railways and the United States Agency for International Development/India (USAID/India) to collaborate on clean energy and energy efficiency solutions. The MoU, which was signed on June 14, 2023, aims to reduce the carbon footprint of Indian Railways and help it achieve its net-zero […]
The Reason Behind FIU IND’s Crackdown on Virtual Asset Providers
On December 28, 2023, the Financial Intelligence Unit India (FIU IND) issued show-cause notices to nine offshore virtual digital asset service providers (VDA SPs), including Binance, Kucoin, Huobi, Bitfinex and MEXC Global, among others . The FIU IND also wrote to the Secretary at the Ministry of Electronics and Information Technology to block the URLs […]
Earth Science Research Gets a Boost: Cabinet Approves Rs 4,797 Crore for PRITHVI Scheme
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a new scheme to boost research and development in the field of earth sciences. The scheme, named PRITHVI (PRITHvi VIgyan), will be implemented by the Ministry of Earth Sciences (MoES) during the period from 2021-26 at an overall cost of Rs 4,797 crore. PRITHVI: […]