Despite pandemonium, the Lok Sabha successfully passed two important bills—“National Institutes of Food Technology, Entrepreneurship and Management Bill, 2021” and “Factoring Regulation (Amendment) Bill, 2021”. Speaking on the Factoring Regulation (Amendment) Bill, 2021, finance minister Nirmala Sitharaman said, “the bill simplifies the definition of factoring business, in which banks, or Non-Banking Finacial Companies (NBFCs), or…
In a distinct move the government has removed custom duty on Masur Dal. The government has also reduced agriculture infra development cess on it from 20% to 10 %. Both these steps taken by the union government are aimed at checking the price rise of this everyday staple in the country while boosting its domestic…
Investment Information & Credit Rating Agency (ICRA) Limited expects the government is all set to exceed its target of budgeted tax collection of Rs 22.2 lakh crore led by indirect taxes in the current fiscal. Last year the government was successful in collecting 20.2 lakh crore rupees as tax and it looks forward to achiheve…
Recently the union cabinet has approved production linked incentive scheme for speciality steel and the Confederation of Indian Industry (CII) has welcomed it. TV Narendren, President, CII said the decision will drive global competitiveness of Indian manufacturers besides boosting investment in high grade steel sector. Chandrajit Banerjee, DG, CII said the initiative will lend strength…
Reserve Bank of India (RBI) may soon come up with central bank digital currency (CBDC). Deputy Governor of RBI, T Rabi Shankar informed that the apex bank is considering a phased implementation strategy and its examining the use cases to be implemented without any disruption. For the same, it’s all set to conduct pilots in…
Maharashtra chapter of Naredco has announced the launch of Naredco Neral-Karjat unit in the state. Aimed at creation of affordable housing stock of over 40000 homes by 100+ members associated with Naredco Neral-Karjat unit, the move is expected to offer an opportunity to the homebuyers to buy RERA registered affordable properties in Neral -Karjat region located…
An MoU has been signed between Tata Steel Mining Limited (TSML) and Jindal Stainless Limited (JSL) for joint mining of the Chromite Ore locked up in the boundary between their mines located in Sukinda of Jajpur district, Odisha. The initiative will also help in the conservation of Chromite Ore which would have been forever left…
The Insolvency and Bankruptcy Board of India (IBBI) has amended the insolvency and Bankruptcy regulations and the IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016 has been notified on 14th July, 2021. The regulations have been amended to augment focus on discipline, transparency and accountability when corporate insolvency proceedings are conducted. According to…
Education Minister Dharmendra Pradhan in a written reply to a question in Lok Sabha informed that the 15th Finance Commission has issued recommendation for grant of Rs 6,143 crore for online learning professional courses for higher education in regional languages. In this amount Rs 250 crore rupees have been assigned for Andhra Pradesh. He said…
After China, Japan, Switzerland and Russia, India has gained the position of fifth largest foreign exchange reserves holder in the world. The country has accumulated $608.99 billion as forex reserves on June 25. Pankaj Chaudhary, Minister of State for Finance, informed this adding that the position of the country’s foreign exchange reserves is comfortable in…
