Category: Business & Economics

New Delhi, July 8, 2024 — The Food Safety and Standards Authority of India (FSSAI) has approved a significant amendment to the Food Safety and Standards (Labelling and Display) Regulations, 2020. The new regulation mandates the display of nutritional information on Total Sugar, Salt, and Saturated Fat in bold letters and an increased font size on the labels of packaged food items. The decision was taken during the 44th meeting of the Food Authority, chaired by FSSAI Chairperson Apurva Chandra. In a statement, the Union Health Ministry announced that this…

No Bids for Second Lithium Auction in J&K The federally administered region of Jammu and Kashmir in India will re-auction its lithium reserves following two failed attempts to attract the required number of bids. According to a reliable source with direct knowledge of the situation, the latest auction in May did not receive any bids, leading the government to reconsider its strategy for these valuable deposits. In February 2023, India discovered its first lithium deposits in the Reasi district of Jammu and Kashmir, with estimated reserves of 5.9 million metric…

In a significant move, the government has amended the Employees’ Pension Scheme (EPS) to ensure that members with less than six months of contributory service are also eligible for withdrawal benefits. This amendment is set to benefit over seven lakh EPS members annually who exit the scheme with less than six months of service. Previously, members who had contributed to the EPS for less than six months were not eligible for any withdrawal benefits. However, with the recent amendment, the Central Government has modified Table D of the EPS, ensuring…

On Thursday, Indian benchmark indices made a strong comeback after an initial dip, with the Sensex surpassing the 79,000 marks for the first time and the Nifty setting a new record high. The surge was driven by robust buying in blue-chip stocks such as Reliance Industries and ICICI Bank, leading to significant gains. The 30-share BSE Sensex surged by 339.51 points, reaching an unprecedented peak of 79,013.76. This historic milestone was achieved despite early losses, thanks to strong performance in key blue-chip stocks. Similarly, the Nifty index rebounded, climbing 97.6…

Modernizing India’s Telecom Laws India’s new Telecommunications Act 2023 marks a pivotal shift from outdated legislation to a framework that aligns with contemporary technological advancements and national security imperatives. Effective from June 26, this legislation replaces the archaic Indian Telegraph Act of 1885 and the Indian Wireless Telegraph Act of 1933. Enhanced Government Oversight for National Security Underpinning the Telecommunications Act 2023 is a robust emphasis on national security. The government now possesses the authority to assume control over any telecommunication network in times of national security threats or during…

Mumbai – Reserve Bank of India (RBI) Governor Shaktikanta Das announced that India is at the threshold of a major structural shift in its growth trajectory and is moving towards achieving an 8 percent GDP growth rate in a sustained manner. Addressing the 188th Annual General Meeting (AGM) of the Bombay Chamber of Commerce and Industry in Mumbai yesterday, Mr. Das highlighted the multi-sectoral nature of India’s growth story. Governor Das emphasized that India’s growth is being driven by various structural reforms, with the Goods and Services Tax (GST) playing…