Category: Business & Economics

The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) in FY 2023-24 with Indian taxpayers. This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs). This marks the highest ever APA signings in any financial year since the launch of the APA programme. The number of APAs signed in FY 2023-24 also represents a 31% increase compared to the 95 APAs signed during the preceding financial year. With this, the total number of APAs since inception of the APA programme has…

Yoga guru Ramdev and his aide Balkrishna were in  the SC today as it hears the contempt case against Patanjali Ayurved in connection with its misleading ads. Acknowledging Ramdev and Balkrishna’s substantial contributions to the realm of yoga, the bench emphasized the significance of their role. However, the court didn’t shy away from scrutinizing their conduct, questioning why other medical systems were disparaged to highlight the virtues of Ayurveda. Despite expressions of regret and readiness to issue a public apology, the court maintained a cautious stance. In a pivotal session…

LIC has experienced a substantial 59% surge in the value of its investments in Adani Group companies during the fiscal year 2023-24. During the previous fiscal year, LIC found itself under intense scrutiny due to its strategic investment decisions in the Adani Group amidst a charged political atmosphere. According to data from stock exchanges, LIC’s investments in seven Adani Group companies have witnessed a significant upswing, soaring from Rs 38,471 crore as of March 31, 2023, to Rs 61,210 crore by March 31, 2024. The surge in LIC’s investment value…

Tesla CEO Elon Musk will be in India later this month to meet Prime Minister Narendra Modi. Musk and Modi last met in New York in June. According to a Reuters report, Musk is expected to make an announcement on his plans to invest and open a new factory in India during his visit to the country. The billionaire businessman is likely to reveal his India plans soon, Reuters quoted sources as saying. He will be accompanied by other executives during his visit to the country. Neither Tesla, nor the…

Yoga guru Ramdev, the co-founder of Patanjali Ayurved, was back in the Supreme Court on Wednesday in connection with the “misleading” ads case, days after tendering an apology before the court in the matter. Supreme Court on Wednesday observed that the apology is only on paper after they — Ramdev and Acharya Balkrishna — “were caught on wrong foot in court.” Rejecting the second affidavit of apology submitted by Patanjali, the Supreme Court warned Patanjali MD Acharya Balkrishna and co-founder Ramdev to be ready to face action in the contempt…

The Ministry of New & Renewable Energy, Government of India has issued Guidelines for implementation of R&D Scheme under the National Green Hydrogen Mission. The R&D scheme seeks to make the production, storage, transportation and utilization of green hydrogen more affordable. It also aims to improve the efficiency, safety and reliability of the relevant processes and technologies involved in the green hydrogen value chain. The scheme also aims to foster partnerships among industry, academia and government in order to establish an innovation ecosystem for Green Hydrogen technologies. The Scheme will also help…

After acquiring Wistron’s India operations for USD 125 million in October last year, Tata Group is now reportedly planning to acquire another iPhone manufacturing facility in India. As per reports, Tata is eyeing to acquire Pegatron’s iPhone manufacturing facility near Chennai. The deal has Apple’s backing as the company ramps up its presence in India, claimed a Reuters report. If the deal goes through, it will see Tata holding at least 65 percent stake in the joint venture that will operate the plant. Pegatron will provide the technical support and…

The 154-year-old Shyama Prasad Mukherjee Port or Kolkata Port records Rs 501.73 crore profit in FY’24, a 65 per cent jump compared to that in the previous fiscal. The port said its net surplus in 2022-23 was Rs 304.07 crore. It also recorded an all-time high of 66.4 million tonnes of cargo handling in 2023-24. The port which has Kolkata Dock System (KDS) and Haldia Dock Complex (HDC) under its command recorded a combined growth was 1.11 per cent owing to trade disruptions in sea freight due to geopolitical reasons.…

Government of India through Designated Officer, Ministry of Mines issued the Notice Inviting Tender dated 29 November 2023 under Tranche I of e-auction by Central Government, in respect of 20 blocks of Critical & Strategic Minerals notified in Part D of the First Schedule of MMDR Act. Further to launch of the first ever tranche, two roadshows in New Delhi and Bhubaneshwar, Odisha respectively on 19 December 2023 & 07 February 2024 and a Pre-bid conference were conducted on 22 December 2023. These events received a good response from the…

In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Government of India has decided that Traders/Wholesalers, Retailers, Big Chain Retailers and Processors in all States and Union Territories have to declare their Stock position of wheat on the portal (https://evegoils.nic.in/wheat/login.html) w.e.f. 01.04.2024 and then, on every Friday till further orders. All the respective legal entities to ensure that stock are regularly and correctly disclosed on the portal. Further, Wheat Stock Limit is expiring on 31.03.2024 for all categories of entities in States and…