Potential Separate HS Codes for GI Rice Exports
The government is considering to give new harmonised system (HS) codes, a numerical classification mandatory for internationally-traded products, to boost exports of geographical indication (GI) tagged rice varieties, a commerce ministry official said on Tuesday. The move will ensure that in case of any ban or restriction on exports of broken or white rice, such […]
e-Jagriti Portal Integrates AI for Efficiency
The Department of Consumer Affairs, Government of India, has launched a modernized version of the CONFONET software, called e-Jagriti portal, to provide speedy, inexpensive and easy redressal to consumer complaints . e-Jagriti portal is a single platform that integrates various consumer grievance platforms, such as Online Case Monitoring System (OCMS), E-Daakhil, NCDRC Case Monitoring System, […]
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 […]
GROW Report and Portal: NITI Aayog New Launch
NITI Aayog, the policy think tank of the Government of India, has launched a new report and portal on Greening and Restoration of Wasteland with Agroforestry (GROW) on 12 February 2024. The report and portal aim to provide state-wise and district-wise analysis of agroforestry suitability across India, using remote sensing and GIS technologies. The report […]
DGCA Issues Runway Safety Guidelines, Urges Training
DGCA, the aviation watchdog of India, has issued a circular to prevent runway incursions after the Haneda airport incident in Japan last month. The circular outlines various measures to enhance runway safety and prevent collisions of planes on the runway. What is a runway incursion? A runway incursion is an incident where an unauthorized aircraft, […]
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 […]
EPFO Raises Interest Rate to 8.25% for 2023-24
The Employees’ Provident Fund Organisation (EPFO) has announced a three-year high interest rate of 8.25% on employees’ provident fund (EPF) deposits for the fiscal year 2023-24. This is a welcome news for over 60 million EPF subscribers who will benefit from higher returns on their savings. What is EPF and why is it important? EPF […]
ESIC Expands Healthcare: Superannuated Members Now Eligible
What is the ESIC Scheme? The Employees’ State Insurance Corporation (ESIC) is a statutory body that provides social security and health insurance to workers in India. The ESIC scheme covers workers earning up to Rs 30,000 per month and provides them with medical care, cash benefits, maternity benefits, disability benefits and pension benefits. Who are […]
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 […]
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 […]