The restriction on onion exports will remain in place until the originally scheduled deadline of 31 March, as the government seeks to maintain prices low and domestic availability high, the news agency PTI reported. On 8 December 2023, the government halted onion exports till 31 March. “Ban on onion exports has not been lifted. It is in force […]
The recently approved state excise policy, endorsed by the cabinet aims to boost the utilisation of locally cultivated fruits and herbs in liquor production and establish micro-distillation units in Uttarakhand’s hilly areas. With a targeted 10 per cent increase in revenue for the financial year 2024-2025, rising from Rs 4,000 crore to Rs 4,400 crore, […]
The Karnataka state government will adjust tax rates throughout the 18 slabs of Indian Made Liquor (IML) to preserve its earnings and avoid trade diversion to adjacent states. “In order to rationalise the tax slabs and make them competitive with neighbouring states, the tax slabs for IML and beer will be revised,” Chief Minister Siddaramaiah […]
Italy’s AGCM competition watchdog has fined British American Tobacco (BAT) and Amazon a total of 7 million euros ($7.5 million) for misleading advertising concerning heated tobacco products. BAT faces a 6 million euro fine, while Amazon’s penalty is 1 million euros. The fines were imposed due to insufficient information provided to consumers about the nicotine […]
India and the UAE on Tuesday finalised seven agreements, including a Bilateral Investment Treaty (BIT), an Intergovernmental Framework Agreement for the India-Middle East-Europe Economic Corridor and Memoranda of Understanding (MoUs) connecting payment systems. These agreements were reached following discussions between Prime Minister Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. […]
Inaugurating the ‘Gram Parikrama Yatra’ from Shuktirth Bangar on Monday, Uttar Pradesh Chief Minister Yogi Adityanath engaged with beneficiaries of various government schemes, highlighting that over 99 per cent of last year’s sugarcane price has been paid. “Out of the 119 sugar mills operational in the state, 105 are settling payments to sugarcane farmers within […]
China’s Xiaomi said that smartphone component suppliers are hesitant about setting up operations in India due to the government’s severe surveillance of Chinese companies, the company said in a letter, according to Reuters. Xiaomi, which has the largest share of India’s smartphone market (18%), also requests in the letter dated Feb. 6 that India consider […]
Finance Minister Nirmala Sitharaman, while addressing the Parliament during the discussion on the Interim Union Budget for 2024-25, emphasised key financial indicators and government initiatives aimed at bolstering economic growth and fiscal stability. Sitharaman’s remarks shed light on various aspects of the budget, including inflation, capital expenditure, and allocations for Jammu and Kashmir. Addressing inflation […]
The Monetary Policy Committee of the Reserve Bank of India (RBI) in its February review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the sixth straight time. The repo rate is the rate of interest at which RBI lends to other banks. Deliberating the […]
The Clothing Manufacturers Association of India (CMAI) has expressed appreciation for the Government of India’s efforts in introducing the MSME Payment amendment to the Income Tax under Section 43 (b) (h) to tackle issues of delayed and non-payment faced by the MSME sector. However, the amendment has led to significant adverse consequences for the domestic […]
