NHAI Plans Amendment of Model Concession Agreement for BOT Initiatives
The National Highways Authority of India (NHAI) is planning to amend its model concession agreement (MCA) for build-operate-transfer (BOT) projects in order to attract more private sector investments and revive the BOT toll model for highway development. Background The BOT toll model involves private developers building, operating and maintaining highways for a specified concession period, […]
EPFO No Longer Recognizes Aadhaar as Proof of Date of Birth
The Employees’ Provident Fund Organisation (EPFO), a statutory body under the Ministry of Labour and Employment of the Government of India, has announced that it will no longer accept Aadhaar card as a valid proof for date of birth. The decision, which was made with the approval of the Central Provident Fund Commissioner (CPFC), follows […]
Securing Farmers’ Future: The Role of Pradhan Mantri Kisan Maandhan Yojana in Pension Provision
India is home to more than 140 million small and marginal farmers who constitute about 86% of the total agricultural landholders in the country. These farmers are often vulnerable to various risks such as crop failure, market fluctuations, natural disasters, and health emergencies. Moreover, they have limited access to formal social security schemes that can […]
Promoting Entrepreneurship in Bihar: Government Approves Rs 2 Lakh for Each of 94 Lakh Families
The Bihar government has taken a significant step to boost entrepreneurship and self-employment in the state by approving financial assistance of Rs 2 lakh each to approximately 94 lakh families with a monthly income of Rs 6,000 or less. The initiative, under the Bihar Small Entrepreneur Scheme, is aimed at fostering economic growth, generating employment […]
RBI’s Draft Guidelines for Fintech Self-Regulation: A New Era in Financial Technology
The Reserve Bank of India (RBI) has recently released a draft framework for recognising Self-Regulatory Organisations (SRO) for the FinTech sector, inviting comments and feedback from stakeholders and the public by the end of February 2024. The draft framework aims to achieve a healthy balance between facilitating innovation by the industry and meeting regulatory priorities […]
Government Enforces Adoption of Standardized Solar DC Cables
The Department for Promotion of Industry and Internal Trade (DPIIT) has notified a Quality Control Order (QCO) for Solar DC Cables, which are used for connecting solar panels and other components of photovoltaic systems. The QCO aims to ensure the safety, reliability and performance of these cables, which are exposed to harsh weather conditions and […]
No Exemption for SEZ Units from Compensation Cess under GST
The Andhra Pradesh High Court has recently delivered a judgment that has significant implications for the Special Economic Zone (SEZ) units in India. The court has held that SEZ units are not exempt from paying compensation cess under the Goods and Services Tax (GST) regime on imported goods. This decision may affect the cost and […]
Housing Finance Companies to Follow NBFC Standards: RBI’s New Deposit Rules
In a significant regulatory shift, the Reserve Bank of India (RBI) has proposed new rules for Housing Finance Companies (HFCs) to align them with the standards applied to Non-Banking Financial Companies (NBFCs). This move aims to tighten deposit mobilization rules and introduce a more robust regulatory framework. Key Changes Proposed The RBI’s move to harmonize […]
Empowering 1 Lakh Indians: PM Modi’s First Instalment Release to PMAY(G) Beneficiaries Under PM-JANMAN
Prime Minister Narendra Modi on Monday released the first instalment of Rs 540 crore to one lakh beneficiaries of the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN) rural housing scheme. The scheme aims to provide pucca houses to all the Particularly Vulnerable Tribal Groups (PVTGs) across 18 states and Union Territories by 2025. PM-JANMAN: […]
Building a Safer Future: ‘Standardized Development and Building Regulations, 2023’ by Bureau of Indian Standards
The Bureau of Indian Standards (BIS) has issued a new document that aims to revolutionize India’s built environment. The document, titled ‘Standardized Development and Building Regulations, 2023’, is encapsulated in Special Publication SP 73: 2023. It sets forth a comprehensive framework for ensuring safety, accessibility and sustainability in construction, aligned with the National Building Code […]