RAJASTHAN GOVT AMENDS COMBINED EXCISE POLICY
Humble bhujia becomes a recipe for billions of dollars in India's market
A packet of bhujia has come a long way from Bikaner. What began as a family-run namkeen shop in 1937 is now a national snack empire, backed by global investors and preparing for a possible stock market debut. As Haldiram eyes Dalal Street, India's humble sev, bhujia and namkeen are finding a place on the global investment menu. Turns out, there's serious business behind that crunch.
Govt plans special session of Parliament to pass women's quota amendment bill, confident of 15-18 vote margin
The government intends to call a special session of Parliament for passing a Constitution amendment bill. This proposed amendment aims to introduce 33 percent reservation for women in Parliament and state assemblies. The Lok Sabha's strength may increase from 543 to a maximum of 850 seats through delimitation. The government seeks to finalize details around seat ratios based on the 1971 Census.
AI can bring productivity gains with job risks; impact on India not yet clearly visible: Moody's
Artificial intelligence is expected to improve productivity in IT services and BPO sectors in emerging markets. Moody's predicts GDP growth for India will rise to 7% in 2027. The lack of digital infrastructure and skills could limit how emerging markets benefit from AI.
Fairfax's Rs 52,878-crore IDBI Bank deal sets stage for a financial services powerhouse
Fairfax Financial Holdings has successfully acquired a controlling stake in IDBI Bank for Rs 52,878 crore. The investment aims to redefine IDBI Bank as a comprehensive financial services provider in India and abroad. Fairfax plans to integrate its existing insurance and capital market businesses into IDBI Bank to enhance its offerings. The acquisition reflects Fairfax's strategy of leveraging IDBI Bank's infrastructure for greater market competitiveness.
CM Yogi Adityanath promotes UP's 'bulldozer brand', invites CNH to manufacture them alongside tractors
Chief Minister Yogi Adityanath advocated for CNH Industrial to manufacture bulldozers in Uttar Pradesh alongside tractors. He emphasised the positive transformation of the state since 2017 under the Modi-led government. Adityanath attributed improvements in law and order to a strong government policy against crime and criminals. The state has become a favorable destination for business investments, attracting foreign companies. He acknowledged local contributions to the region's development, especially in Jewar.
Centre bans export of Li-ion battery waste, scrap to boost domestic recycling and critical mineral recovery
India has imposed an immediate ban on the export of lithium-ion battery black mass to strengthen its local recycling ecosystem. This decision aims to enhance domestic recovery of critical minerals, such as lithium and cobalt, which are vital for technology and energy sectors. The prohibition will ensure that battery waste generated in India is processed locally and improves utilization of recycling capacities.
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'Fourth Amendment doesn't allow it': AI facial recognition mistake lands Nebraska man in jail for 2 weeks; judge allows lawsuit against Kentucky cop
In a significant ruling, a US federal judge has allowed a lawsuit against Detective Ryan Kilmer to advance regarding a wrongful arrest involving Alain Vizcay Osorio. Arrested due to faulty AI facial recognition technology that erroneously identified him, Osorio's case emphasizes the vital protection the Fourth Amendment offers against improper detentions.
India needs suitable evaluation matrix for awarding exploration and mining projects: NITI CEO
NITI Aayog CEO Anurag Jain underscored the development of an evaluation matrix for gold mining projects. The focus is on promoting technical competence and sustainable development of gold resources in India. Discussions revolved around improving geological data and regulatory approvals within the mining sector. The meeting also addressed the country's growing dependence on gold imports and limited exploration efforts.
Govt bans export of unsorted battery waste, scrap
The government has implemented a ban on the export of unsorted waste and scrap from certain batteries. This ban applies specifically to primary cells, batteries, and electric accumulators lacking hazardous substances. The Directorate General of Foreign Trade issued a notification establishing this prohibition, which is effective immediately. Previous regulations classified these exports as 'Free', but now they are categorized as 'Prohibited'.
ED alleges network of intermediaries sought to influence transfers, policy decisions in Punjab CMO
The Enforcement Directorate (ED) has alleged that a network of private intermediaries around the Punjab Chief Minister’s Office sought to influence government transfers, policy decisions, tenders, licensing and land approvals.
CPI report today: What is current US Fed interest rate? Will inflation data force US Fed to go for interest rate hike?
CPI data today: Inflation report is running well above the US central bank's 2 per cent target. The US-Israeli war with Iran has boosted oil prices, combining with the import tariffs implemented by the Trump administration last year to lift the cost of living.
Allegation of harassment to woman Collector: TN Minister promises probe against TVK MLA
Chennai Tamil Nadu School Education Minister Rajmohan promised a thorough inquiry into allegations against MLA Arul Vignesh. Reports claimed Vignesh sent inappropriate text messages to District Collector J E Padmaja. Minister Rajmohan emphasised a zero-tolerance policy regarding harassment across political affiliations. DMK MP Kanimozhi alleged that Vignesh harassed the collector, which prompted this inquiry. Vignesh has denied the accusations as baseless and claims they are part of misinformation.
Delhi Police serves notice at Mamata Banerjee's residence in connection with 2013 case
Delhi Police officials visited Mamata Banerjee's residence to serve a notice related to a 2013 case. This case involved allegations including rioting, unlawful assembly, and obstruction of public servants. The notice was issued under Section 160 of the Code of Criminal Procedure. It pertains to various sections of the Indian Penal Code associated with the mentioned offenses. Kolkata Police confirmed the visit and the details surrounding the notice served.
Kerala to launch digital dashboard for real-time monitoring of projects
Kerala plans to introduce a digital dashboard at the Chief Minister's Office for project monitoring. This initiative aims to track infrastructure project progress and accelerate implementation. The Saral Keralam Act simplifies investment approval processes by unifying existing laws. Additionally, the government will promote major developments such as an international convention centre in Kochi.
India's invisible pain: The dirt in the air comes with a hefty price tag for economy and businesses
Severe pollution plaguing Indian cities is taking a toll on businesses. Restrictions placed on construction and transportation impede the movement of goods, leading to increased operational expenses. Many consumers are opting out of outdoor activities due to dangerous air quality, resulting in a drop in sales and foot traffic.
Gas prices in the US are nearly half of Europe's: Why are American drivers paying so much less?
American motorists are currently paying much less for fuel compared to drivers in the European Union. The average petrol price in the EU is almost double that of the US, highlighting significant market differences. Higher taxation in Europe contributes to this price discrepancy, making it important for consumers to understand. Diesel costs also reflect a noticeable difference, though the gap is smaller than for petrol.
Priyank Kharge accuses Centre of misleading public over ethanol blending, alleges violations
Karnataka Minister Priyank Kharge claimed the Central government is misleading citizens regarding ethanol blending in petrol. He referred to laboratory reports showing blending levels exceeding announced limits, which he stated benefit certain companies. Kharge highlighted discrepancies in government statements regarding ethanol blending being an experiment only. He also addressed rising prices attributed to the government's policies impacting essential services like public transport.
Bihar man buys second-hand car, pays Rs 14,000 for RC transfer, around 10 times the govt fees to agents, report finds
A new report by Consumer Voice and IndiaTech finds that used vehicle ownership transfers cost up to Rs 14,000 in parts of Bihar, with charges reaching 10 times statutory fees. UP takes over 30 days for RC transfers, while 39% of surveyed buyers and sellers reported delays.
Sebi revises currency derivative norms for domestic investors, FPIs; allows to trade up to USD 5 mn
Sebi has revised its regulations to permit domestic and foreign portfolio investors to take positions in currency derivatives. Investors can now hold up to USD 5 million without establishing underlying exposure. The new guidelines also require FPIs to ensure their short positions do not exceed this limit. For amounts above the threshold, FPIs must have underlying exposure in Indian debt or equity securities.
West Bengal investment policy puts jobs first, offers up to 120% assistance to industries
West Bengal has launched a new investment promotion policy aimed at encouraging industrial growth and job creation. The policy includes substantial incentives for businesses, especially those focused on employing women and transgender workers. It offers streamlined processes for approvals and payments, enhancing efficiency for investors. Priority areas will receive higher assistance levels and a framework for regular review every three years.
Jairam Ramesh questions Centre over reported proposal to replace Aadhaar with Voter ID for welfare schemes
Jairam Ramesh has voiced serious concerns about the government's initiative to utilize Voter ID for welfare programmes, suggesting that this could undermine the intended functions of Aadhaar. He highlighted that several beneficiaries have already encountered hardship under Aadhaar's system. Ramesh cautioned that adopting Voter ID instead might worsen the challenges surrounding access to essential benefits and amplify debates on electoral integrity and citizens' rights in India.
Centre proposing parity in mineral taxation, states' rights to remain intact: Union Mines Secretary
Proposed amendments to the Mines and Minerals (Development and Regulation) Act are intended to create tax parity across states. This initiative aims to reduce reliance on imports by fostering local production and processing of critical minerals. The Indian government has introduced significant subsidies to support industries establishing lithium and nickel processing facilities. Approximately 58 entities are now registered under a recycling program for electronic waste.
Odisha signs MOU with J-PAL South Asia to strengthen evidence-based policymaking
The Government of Odisha has signed a three-year MoU with Abdul Latif Jameel Poverty Action Lab. This agreement aims to strengthen evidence-based policymaking through research and collaboration. J-PAL South Asia will support various governmental departments to address their policy priorities effectively. A Steering Committee will oversee the partnership and monitor project development every six months. The collaboration builds on ongoing efforts to improve areas such as education, sanitation, and governance.
Investors commit nearly $400 billion to India's green energy sector, says Pralhad Joshi
Investors have shown significant interest in committing nearly $400 billion to India's green energy initiatives. Renewable energy minister Pralhad Joshi stated that this investment comes from both domestic and international companies. India needs approximately $220 billion by 2030 to fulfill its renewable energy targets. Discussions included challenges regarding solar cell availability and the ongoing development of energy storage systems.
Prices of premium Scotch set to fall in Delhi after customs duty cut on British spirits
Prices for premium Scotch whiskies in Delhi are expected to decline shortly due to changes in customs duty. The reduction in import duty follows the Comprehensive Economic and Trade Agreement between India and the UK. Initially, the duty on British spirits will decrease from 150 to 75 percent, further dropping to 40 percent over the next ten years.
Scotch whisky in Delhi may get cheaper after Diwali as excise department begins price revision
Scotch whisky prices in Delhi could drop by around 7% due to changes in import duties. The new rates will likely affect popular brands like Johnnie Walker and Glenfiddich. Price revisions will be implemented initially in hotels, clubs, and restaurants, followed by retail outlets. Existing inventories must be cleared before new stocks can be sold under revised rates. The anticipated price changes are expected to occur before the wedding season.
Delhi air turns hazardous; AQI touches 605, GRAP-II vehicle curb enforced at Gurgaon border
Delhi AQI: Among the worst-affected locations, Punjabi Bagh recorded an AQI of 452, followed by Dhaula Kuan at 417, ITO at 418, RK Puram at 423 and Ghazipur at 410. The air quality around India Gate stood at 414, with all these locations falling in the severe category.
Assam Cabinet approves key amendments to Assam Services (Discipline & Appeal) Rules including polygamy dismissal
The Assam Cabinet has approved an amendment to dismiss government employees engaging in polygamy and prohibit future employment. An investigation by the CBI will focus on the causes of severe floods in Sivasagar and Charaideo districts. Additionally, the Cabinet has endorsed financial support for farmers, increasing the Minimum Support Price to 2,640 per quintal.
Government scraps export duty on petrol, raises levies on diesel and ATF
The Indian government has abolished the special additional excise duty on petrol exports as of now. Diesel export levies have been raised to Rs 11.50 per litre from Rs 8.50 per litre. The export duty on aviation turbine fuel has also increased by 50 paise per litre. These adjustments reflect ongoing pressures from international energy market disruptions linked to geopolitical events.
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