Category: Breaking News

Union Minister of Commerce & Industry Piyush Goyal has lauded the contribution of traders in Indian economy. He said, traders are the backbone of the country’s economy and financial powers. Virtually addressingthe traders’ fraternity on the occasion of National traders’ day today, he said traders are the true ambassadors of Brand India. He asked the traders to push for the PM’s clarion call for “Vocal for Local” and become ambassadors of brand India.   Shri Goyal said that India is becoming a global platform for goods and services and asked traders to…

Chief Justice of India N.V. Ramana said on Sunday that police stations pose the “highest threat” to human rights and dignity, which are ‘sacrosanct’. The threat to human rights and bodily integrity is the highest in police stations and going by recent reports, even the privileged are not spared third-degree treatment,” the Chief Justice said. Custodial torture and police atrocities still prevail despite constitutional guarantees, he said.   The CJI is also the Patron-in-Chief of NALSA. He said that to keep police excesses in check, dissemination of information about the constitutional right to legal…

Piyush Goyal, Textiles Minister has called for increasing handloom exports to Rs 10,000 crore and doubling the production to Rs 1.25 lakh crore in the next three years with a view to promoting the growth of the sector. In today’s time handloom exports are worth Rs 2,500 crore and production is about Rs 60,000 crore.   At the National Handloom Day celebrations, he said, “Let us today all resolve collectively on this day that we will go for a Rs 10,000 crore target for exports of handloom products and a target…

GST avoidance by e-commerce players causing huge loss of GST revenue to both state & central Govt and also urged support for E-Commerce Rules under the Consumer Protection Act.   The industrial body CAIT’s National President B.C.Bhartia and Secretary General Praveen Khandelwal in a joint statement demanded states to direct their respective GST departments to carry out a “substantial investigation” towards the selling pattern of e-commerce companies and for subsequent action. Selling goods below the prevailing market price “is causing regular huge loss of GST revenue to state governments and central government.   CAIT has written to…

Prime Minister Narendra Modi will launch Ujjwala 2.0 (Pradhan Mantri Ujjwala Yojana – PMUY) by handing over LPG connections, at Mahoba Uttar Pradesh on 10th August, 2021 at 12:30 PM via video conferencing. During the event, the Prime Minister will interact with beneficiaries of the Ujjwala and will also address the nation.   The journey from Ujjwala 1.0 to Ujjwala 2.0   During Ujjwala 1.0 launched in 2016, a target was set to provide LPG connections to 5 crore women members of BPL households. Subsequently, the scheme was expanded in…

Birla had taken over as non-executive chairman of Vodafone Idea in August 2018 after the closure of a $23-billion merger between Idea Cellular and Vodafone India, the telecom unit of UK’s Vodafone Group.   The crisis deepen at Vodafone Idea after Kumar Mangalam Birla stepped down as the Non-Executive Director and Non-Executive Chairman of the board of the company, sending the share prices down.   Himanshu Kapania, currently non-executive director and the former managing director of the erstwhile Idea Cellular before its merger with Vodafone India, will replace Birla.  …

The Confederation of Indian Industry (CII) has said Prime Minister Narendra Modi ‘s target of achieving $400 billion in exports is ‘attainable’ given the post-pandemic economic recovery globally and increasing competitiveness of Indian goods.   The PM has set an aspirational, but very much attainable target of $400 billion in exports for the year. At the current juncture when global value chains are in flux, the multifold strategies to promote exports coupled with a whole-of-government approach make this a moment for India to seize.   The draft National Logistic Policy,…

The Yes Bank board has sanctioned the prosecution of former MD and CEO Rana Kapoor under the Prevention of Corruption Act (PCA).   This came after the Central Bureau of Investigation (CBI) sought the prosecution sanction, which notified a local magistrate’s court of the development and filed a supplementary chargesheet in the Yes Bank scam case earlier this week.   The special court forwarded the Yes Bank fraud case to a lower court for cognisance under sections pertaining to criminal conspiracy and cheating of the Indian Penal Code (IPC), which…

India’s first individual Olympic gold medallist Neeraj Chopra gave his golden had to all Indians for winning the gold medal in athletics at the Tokyo 2020 Olympic Games saturday.A nation of a billion-plus was awaiting a historic medal with bated breath, knowing it is well within the country’s reach — an unprecedented feeling when it comes to track and field events at the Tokyo Games.   Neeraj Chopra won the men’s javelin with best throw of 87.58 meters, claiming a historic first Olympic gold in athletics for India. His biggest rival, Johannes Vetter, was…

There is a rise in the reserves that was on the back of an increase in foreign currency assets (FCAs), a major component of the overall reserves, the Reserve Bank of India‘s data shows. FCA has increased by $8.596 billion to $576.224 billion in the reporting week.   Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Accordingly, Gold reserves were up by $760 million to $37.644 billion in…