Indian Oil and EKI Energy Join Forces for ‘Surya Nutan’, Revolutionizing Solar Cooking
Indian Oil Corporation Ltd. (IOCL), India’s largest fuel refiner and retailer, has recently collaborated with EKI Energy Services Ltd., a global carbon credit developer and supplier, to promote ‘Surya Nutan’, a pioneering indoor solar cooking system developed by IndianOil
India-Oman Free Trade Agreement: A Catalyst for Enhanced Economic Cooperation
A notable aspect of this evolving partnership is the significant increase in bilateral trade, which surged from $5.01 billion in the Indian financial year 2018-19 to $12.39 billion in 2022-23.
Revolutionizing Taste: ₹7,000 Crore Boost for Indian Food Processing
The PLI Scheme for Food Processing Industry (PLISFPI) was approved by the Union Cabinet on March 31, 2021, with a budget of ₹10,900 crores, to be implemented over five years, from 2021-22 to 2026-27.
ADB’s Sustainable Vision: $200 Million for Urban Sanitation and Waste Management
This initiative is a major stride in supporting the Government of India’s Swachh Bharat (Clean India) Mission–Urban 2.0, which aims for all cities to be garbage-free by 2026.
LIC Granted Decade-Long Extension to Meet 25% Public Shareholding Norm
In November, there was a 37.48% decrease in group premium to Rs 11,649.54 crore compared to the previous year, as reported by various sources.
Indian Government Seeks Advisor for Bharat Bond ETF Management as AUM Hits Rs 50,000 Crore
The Bharat Bond ETF’s journey since 2019 has been noteworthy. Its initial offering helped central public sector enterprises raise Rs 12,400 crore, followed by subsequent tranches in 2020 and 2021, raising Rs 11,000 crore and Rs 6,200 crore, respectively. The fourth tranche in 2022 added another Rs 2,800 crore to the fund’s robust portfolio.
New Era of GST Compliance: 2FA Now Required for E-Way Bills and E-Invoices
The 2FA feature was enabled on December 1 and rolled out initially in Haryana, followed by Punjab, Chandigarh, Uttarakhand, Rajasthan, and Delhi in the first phase. The second phase will extend this across India.
Finance Ministry’s Bold Move: Rs 10,000 Crore Advance for MGNREGS
Adding to this, Union Rural Development Minister Giriraj Singh indicated that an extra allocation of Rs 28,000 crore is in the pipeline, awaiting clearance in the ongoing Winter session of Parliament.
PM SVANidhi Scheme Empowers Street Vendors with Rs 9,790 Crore in Loans
The PM SVANidhi scheme, designed as a micro-credit program, targets urban street vendors, offering them collateral-free working capital loans of up to Rs 50,000
RBI Study Reveals Old Pension Scheme to be 4.5 Times More Expensive Than NPS
The RBI’s comprehensive analysis indicates that switching from the NPS to the OPS would incur costs approximately 4.5 times higher. This substantial increase in expenditure is not just a one-off financial burden but is projected to escalate to 0.9 percent of the nation’s Gross Domestic Product (GDP) annually by 2060.