RITES, AD Ports Group Join Hands for Infrastructure
RITES Limited, a leading transport infrastructure consultancy and engineering firm in India, and AD Ports Group, a leading facilitator of global trade, logistics and industry in UAE, have signed a strategic Memorandum of Understanding (MoU) to explore joint ventures and collaborations in key areas of trade and logistics. The MoU covers cooperation in the upcoming […]
BIT Signed to Enhance India-UAE Investments
India and the United Arab Emirates (UAE) have signed a Bilateral Investment Treaty (BIT) on February 13, 2024, to further promote and protect investments between the two countries. The treaty was witnessed by Prime Minister Narendra Modi and UAE’s President Sheikh Mohamed bin Zayed Al Nahyan. What is a BIT? A BIT is an agreement […]
Surya Ghar Muft Bijli Yojana: PM’s Latest Announcement
Prime Minister Narendra Modi has announced a new initiative to promote sustainable development and enhance people’s welfare. The scheme, named Surya Ghar Muft Bijli Yojana, aims to provide up to 300 units of free electricity every month to 1 crore households by installing rooftop solar systems. What is Surya Ghar Muft Bijli Yojana? Surya Ghar […]
Assam Budget 2024: No New Tax, Rs 2.9 Lakh Crore Outlay
Assam Finance Minister Ajanta Neog on Monday tabled the state budget for 2024-25 in the Assam Legislative Assembly with an outlay of Rs 2.9 lakh crore and a deficit of Rs 774.47 crore. This is her fourth budget as the finance minister and she said it is a realistic budget that focuses on the development […]
MSE Payments: Businesses Navigate New Tax Law
The new tax law under Section 43B (h) of the Income Tax Act, which mandates payment to micro and small enterprises (MSEs) within 45 days of delivery to claim deductions, is causing concern and leading to various strategies by businesses and vendors to mitigate its impact. The law aims to ensure timely MSE payments and […]
Spectrum Sale ,Govt Clears Rs 96K Crore
The government has approved the sale of spectrum across eight frequencies with a reserve price of Rs 96,318 crore, aiming to enhance consumer mobile services and facilitate 5G expansion in the country. The cabinet also decided to allot spectrum for safety of railway and metro passengers, apart from re-farming of the airwaves for better utilisation […]
MSME Loans: RBI’s KFS Move Applauded for Transparency
The Reserve Bank of India (RBI) has announced a new measure to increase the transparency and fairness of lending practices for retail and MSME borrowers. The RBI has mandated that all regulated entities, such as banks and NBFCs, provide a Key Fact Statement (KFS) to their customers before signing a loan agreement. The KFS is […]
Offline E-Rupee Transactions Coming Soon: RBI
The Reserve Bank of India (RBI) has announced that it will introduce offline functionality for e-rupee transactions, which will enable users to make payments in areas with poor or limited internet connectivity. The e-rupee is the digital version of the Indian currency, which is officially known as Central Bank Digital Currency (CBDC). The RBI launched […]
Cabinet Approves ₹6,000 Cr Fishery Scheme, Infra Fund Extension
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a new fishery scheme and extended the Fisheries Infrastructure Development Fund (FIDF) for another three years up to 2025-26 on Thursday. The decisions are aimed at formalising the unorganised fisheries sector, facilitating institutional finance to micro and small enterprises, promoting aquaculture insurance and enhancing export […]
Finance Bill, Appropriation Bills Returned by Rajya Sabha
Rajya Sabha returns Finance Bill, appropriation bills after discussion The Parliament on Thursday gave its nod to the Modi government’s interim Budget with Rajya Sabha returning the Finance Bill 2024 and related appropriation bills after discussion. The Finance Minister Nirmala Sitharaman assured that the government will honour the fiscal deficit glide path given in 2021 […]