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The PLI concept was first introduced during the global lockdowns of 2020 during the Covid-19 pandemic to stimulate domestic manufacturing.
Updated : Jan 05, 2025

Booster dose: Centre to launch PLI Scheme 1.1 for steel sector, stimulating investments and job creation

The PLI scheme for specialty steel was introduced to boost domestic production and reduce imports by attracting capital investments. The initiative has already secured Rs 27,106 crore in investments, aiming to create 14,760 direct jobs and produce an estimated 7.90 million tonnes of specialty steel. 

China primarily exported stainless steel, hot-rolled coils, plates, electrical sheets, galvanized plain or corrugated sheets, pipes, bars, rods, and other steel products. 
Updated : Dec 21, 2024

Government launches probe to determine ‘safeguard duty’ on steel as imports from China surge: Report

Provisional government data for the first eight months of the fiscal year ending in March 2025 showed that India’s finished steel imports from China reached a record high, raising concerns among domestic mills about the impact of inexpensive shipments from China. 

Karnataka is the largest producer of copra, accounting for 32.7% of the country’s total production, followed by Tamil Nadu (25.7%), Kerala (25.4%), and Andhra Pradesh (7.7%).
Updated : Dec 20, 2024

Govt increases copra msp by up to Rs 422, sets price at Rs 12,100 per quintal for 2025 season

The MSP, based on the recommendations of the Commission for Agricultural Costs and Prices (CACP), applies to the fair and average quality of both milling and ball copra varieties. The total financial impact of the decision is estimated at Rs 855 crore. 

The VAT on ATF is applied on the entire value, including the excise duty, leading to cascading of taxes (tax on tax). This increases the effective cost of ATF.  
Updated : Dec 19, 2024

GST Council may discuss inclusion of ATF to reduce tax cascading, lower aviation costs: Sources  

ATF is considered a variant of kerosene oil.  While the majority of inputs required for producing ATF are covered under the GST regime, ATF itself is excluded, which results in an inefficiency in the tax structure

Essentially, the bill aims to prohibit individuals or entities not authorised by the RBI or other regulators, and those not registered under any other relevant law from engaging in public lending.
Updated : Dec 19, 2024

Government proposes new bill to ban unregulated lending activities: All you need to know about ‘BULA’ 

The draft bill proposes that “any lender who offers loans, either digitally or otherwise, in violation of this law, shall be punishable with imprisonment for a minimum of two years, which may extend up to seven years, along with a fine ranging from Rs 2 lakh to Rs 1 crore.

The GST Council, headed by Union Finance Minister Nirmala Sitharaman, and members from all states and union territories, is scheduled to meet in Jaisalmer on December 21.
Updated : Dec 16, 2024

GST Council Meeting: GoM proposes reducing GST rate to 5% for all individual health insurance services 

The Group of Ministers (GoM) on Health Insurance presented its recommendations to revenue officials from both the state and central governments on December 16.

Several states remain concerned about potential revenue losses from any big change in GST rates.
Updated : Dec 16, 2024

GST Council meeting: Big-ticket rate rationalisation may require more discussions

Council may take a call on GST premium on insurance products and some other goods and services. At present, an 18% GST on insurance premium is charged. Additionally, the GoM on compensation cess likely to submit status report.

So far in FY25, government capital expenditure has been weaker than anticipated despite an all time high target of Rs 11.1 lakh crore
Updated : Dec 09, 2024

Centre’s FY26 capex outlay may register marginal increase

Discussions on for 5-10% jump in capex amid preparation of Union Budget 2025-26. Sources said that a final decision will be taken closer to the date of the Budget taking into account the overall situation of the economy.

The Red Line is currently operating between Shaheed Sthal (New Bus Adda) and Rithala.
Updated : Dec 06, 2024

Cabinet decision: Rithala-Kundli corridor in Delhi Metro Phase-IV gets a nod with Rs 6,230 cr outlay

Once operational, this corridor will extend the Delhi Metro into Haryana, making it the fourth extension into the state. Currently, the Delhi Metro serves Gurugram, Ballabhgarh, and Bahadurgarh in Haryana.

As per sources, the scheme has received nearly 20 lakh registrations, with approximately 15 lakh completing their Aadhaar-based registration.
Updated : Dec 03, 2024

Government plans to double corporate participation in Internship Scheme to 1,000 from 500

Earlier, the government was tapping the top 500 companies, but it is now planning to include another 500 in the cohort to match the quality demand and supply.

MGNREGS, a centrally sponsored scheme without cost-sharing from states, guarantees at least 100 days of wage employment annually to rural households.
Updated : Dec 02, 2024

Government eyes full utilisation of Rs 86,000 crore under MGNREGS budget in FY25

Around 88 percent of the allocation is already spent, even as Finance Ministry officials take various steps in conjunction with states to prevent misuse of the funds.

In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman had emphasised the government’s commitment to simplifying direct taxation in India. 
Updated : Dec 02, 2024

Budget 2025 may usher in major overhaul with Direct Tax Code reforms

"We are working on simplification of the language. The act itself is about 300-500 pages, with certain sections not important at all. These sections will be completely removed," an official told Business Today TV. The income tax department has received 6,500 suggestions from stakeholders over the past month on review of the Income Tax Act. As per sources, suggestions majorly have been received on streamlining of income tax rates, especially the corporate tax rate. 

As of 2023, India’s healthcare spending was just 1.8% of GDP, well below the global average of 6%.
Updated : Dec 02, 2024

States’ healthcare budgets fall short of 8% target, missing national health policy goals

Budget Estimates for 2024-25 show that the average allocation for healthcare across states stands at 6.2 percent. Healthcare funding in India is a critical component of state budgets, with the central government providing support through Centrally Sponsored Schemes (CSS).

A total of 127,000 internship opportunities were posted by companies for the scheme.
Updated : Nov 28, 2024

PM Internship Scheme set to be formally launched on December 2

Over 621,000 candidates applied for 125,000 opportunities

The Cabinet also approved the continuation of the Atal Innovation Mission (AIM) under NITI Aayog, with an expanded scope and a budget of Rs 2,750 crore allocated for the period up to March 31, 2028.
Updated : Nov 25, 2024

Cabinet gives nod to ‘One Nation One Subscription’ scheme, approves continuation of Atal Innovation Mission

The government has allocated approximately Rs 6,000 crore for the scheme over the next three calendar years — 2025, 2026 and 2027 — as part of a new central sector scheme. The benefits of this scheme will extend to all higher educational institutions, whether managed by the central or state government, as well as central government research and development institutions.

Bank guarantees are needed from telecom operators to provide for spectrum purchases up to 2022.
Updated : Nov 25, 2024

Big relief for telecom players: Cabinet approves proposal to waive bank guarantees

This decision is expected to offer significant relief to major telecom companies, which collectively owe over ₹30,000 crore in BGs to the government.

Furthermore, the projects will enhance the Mumbai-Prayagraj-Varanasi route, enabling additional passenger trains.
Updated : Nov 25, 2024

Cabinet approves three mega railways projects with Rs 7,927 crore outlay, including Manmad-Jalgaon line

These routes are vital for transporting essential commodities such as agricultural products, fertilisers, coal, steel, cement and containers. The capacity expansion will allow for an additional freight traffic of 51 million tonnes per annum (MTPA).

Over the next two years, the initiative will be implemented across 15,000 clusters in gram panchayats, reaching one crore farmers and introducing natural farming over 7.5 lakh hectares.
Updated : Nov 25, 2024

Govt launches National Mission on Natural Farming to help farmers reduce input costs, investment outlay at Rs 2,500 crore

NMNF aims to encourage farmers to adopt natural farming, a chemical-free agricultural practice that integrates local livestock and diverse cropping systems. This approach follows local agro-ecological principles, leveraging traditional knowledge and location-specific technologies adapted to the local environment.

The Centre is looking to reduce the debt of both the telecom PSUs through land monetisation.
Updated : Nov 22, 2024

Government to monetise land assets of BSNL, MTNL by FY25 end: Official

First tranche of monetisation likely to raise around Rs 300 crore, monetisation of other PSU assets on the backburner

Currently, the GST system has four main tax slabs: 5 percent, 12 percent, 18 percent, and 28 percent.
Updated : Nov 18, 2024

GST Council to meet in Jaisalmer on December 21; may discuss levy on health and life insurance

The GoM on health and life insurance met last month and reached a broad agreement to exempt GST on premiums for term life insurance policies and health insurance for senior citizens. Separately, the GoM on GST rate rationalisation has proposed adjustments to the tax rates on a variety of goods.

According to the latest data from the CBDT, net direct tax collections from April 1 to November 10 grew by 15.41 percent to Rs 12.11 lakh crore.
Updated : Nov 18, 2024

Centre to exceed FY25 direct tax collection target of Rs 22.07 lakh crore: CBDT Chairman Ravi Agarwal 

The government’s direct tax collection target for the fiscal year is Rs 22.07 lakh crore, comprising Rs 10.20 lakh crore from corporate taxes and Rs 11.87 lakh crore from personal income tax and other taxes. 

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