China & Pakistan work together to build CPEC into 'exemplary project'

On Monday, 31 July 2023, China and Pakistan signed six important documents to help embark on the second phase of the $60 billion China-Pakistan Economic Corridor (CPEC) projects under a fresh model, further securing the all-weather strategic relations between the “iron brothers”.

Mother Dairy's FY23 revenue increased by 17% to Rs 14.500 Cr

The top executive of the firm claimed that better demand across all categories, including fresh milk, value-added dairy products, and edible oils, contributed to Mother Dairy’s turnover rising 17% to over Rs 14,500 crore in FY23.

CEO of Paytm wants a PLI program for payment devices

One97 Communications, the parent firm of Paytm, wants the government to expand the scope of the production-linked incentive (PLI) plan to cover payment sector devices.

Bajaj Auto fell by 10% in July, while exports fell by 18 per cent

Bajaj Auto sold 3,19,747 units in total in July, a 10% decrease from the 3,54,670 units it sold in the same month last year. Only 1,40,484 units were exported by the company in July, a significant decrease of 18% from the 1,71,714 units exported in the same month last year, According to a report with the stock exchange.

FOXCONN EV VENTURE TARGETS INDIA, THAILAND FOR NEW SMALL CAR

Foxconn's venture attempting to build a standardised electric vehicle platform is targeting India or Thailand for the production Investing

57 railway stations in Odisha to be upgraded under ABSS

As many as 57 railway stations in Odisha have been identified to undergo a major makeover under the Amrit Bharat Station Scheme, the East Coast Railway said in a release Tuesday.

8 students to represent India at 25th World Scout Jamboree

A group of eight CWSN (Children With Special Needs) students from Delhi Government Schools will represent India at the 25th World Scout Jamboree being held in South Korea, said a release from the Delhi Education Minister’s office.

'T'gana Cabinet greenlights Rs 60K cr Metro expansion'

Telangana Minister KT Rama Rao said that the state Cabinet has approved a Rs 60,000 crore plan for Metro rail expansion. Addressing the media, Minister KTR said, “Today, the Telangana State Cabinet meeting was held for over six hours under the leadership of Chief Minister KCR.

Chandigarh tops in solar power generator among UTs

Chandigarh has emerged as the top solar power generator among all Union Territories in India, as per the media report. As of June 30, Chandigarh had an impressive installed solar power capacity of 63.59 MW, said Union Minister of New and Renewable Energy and Power, RK Singh, in response to a question during the ongoing Monsoon Session of Parliament.

AGGREGATE DEPOSITS IN JAN DHAN ACCOUNTS CROSSES RS 2 TRILLION

The Pradhan Mantri Jan Dhan Yojana was launched in 2014 with the goal of offering universal banking services to all unbanked households

Foxconn to invest $500 million in India

Apple’s supplier, Foxconn Technology Group, will invest around $500 million in building two component factories in India, signalling its move away from China and its focus on diversification. The factories, one of which will produce Apple parts including components for iPhones, will be located in the southern Karnataka state. While a formal announcement is expected soon, the matter is not yet public, and sources shared the details anonymously.

India's manufacturing PMI dips to 57.7 in July

India’s manufacturing sector continued its growth momentum in July, with the S&P Global Purchasing Managers’ Index (PMI) slightly decreasing to 57.7 from 57.8 in June. However, the index remained above the crucial 50 level, indicating expansion in activity for the 25th consecutive month.

GST e-invoicing may pose tech challenges for MSMEs

The recent implementation of mandatory e-invoicing in Goods and Services Tax (GST) for micro, small, and medium enterprises (MSMEs) with a turnover of up to Rs 5 crore has raised concerns about potential challenges for these businesses.

Govt to restrict automated IGST refunds on pan masala, tobacco

The finance ministry has announced that from 1 October, automated refund of Integrated GST (IGST) on export of certain items such as pan masala, tobacco, and similar goods will be restricted. Exporters of these items will no longer receive automated refunds and will have to approach jurisdictional Tax officers to claim their refunds. The move is aimed at curbing potential tax evasion in the sector, as there might be over-valuation of goods exported, leading to higher IGST refund outgo.

'India installs over 3 lakh 5G sites in 10 mos'

India’s 5G rollout has been hailed as the world’s fastest, with over 3 lakh 5G mobile sites installed across 714 districts within just 10 months of the service’s launch on October 1, 2022. Union Telecom Minister Ashwini Vaishnaw announced this significant milestone on social media platform Koo. Reliance Jio and Bharti Airtel are the two telecom operators leading the 5G rollout in the country.

INDIA'S GOLD DEMAND FALLS 7% IN Q2, HIGHEST SINCE 2019

Gold imports saw a 16% jump to 209 tonnes during Q2 of 2023, from the year-ago period on account of stocking, WGC said

Sensex Recovers And Closes Flat On Foreign Fund Outflows

Equity benchmark indices started the week on a cautious note, witnessing a decline in early trade on Monday as investors remained wary amid continuous foreign fund outflows.

Manipur resumes biometric capture of illegal immigrants

The Manipur government has resumed the process of collecting biometric details of identified illegal immigrants in the state, an official said on Monday.

Govt likely to introduce Delhi services ordinance bill

The Bill to replace the Centre’s Ordinance on Control of Services in Delhi is expected to be taken up by Parliament this week.

'Touts helping Rohingyas, BD to illegally enter India'

Assam Police arrested eight persons, including two Bangladeshi nationals for arranging fake citizenship documents for Rohingyas and Bangladeshis illegally entering India from the neighbouring country, a senior officer said here on Monday.

BJP TO HOLD PROTEST AGAINST RAJ GOVT OVER CORRUPTION

The protest is part of the BJP’s “nahi sahega Rajasthan” campaign in the run-up to the assembly polls expected to be held in Nov-Dec

Dengue control workers in Delhi go on strike

Amid a rise in dengue cases in Delhi, scores of city municipal workers, who are at the forefront of the fight against vectorborne diseases, began their indefinite strike on Monday.

KARNATAKA AAR: HOSTELS ARE NOT RESIDENTIAL DWELLING UNITS NO GST EXEMPTION

The Karnataka Authority of Advance Ruling, AAR in the case observed and has held that the PG or the Hostel Rent paid by inhabitants does not qualify for GST exemption as the services are not akin to renting a residential dwelling for use as a residence.

Gauhati High Court Directed Centre To Forthwith Release Its Shares For Completion of Greater Diphu Water Scheme Project

The Gauhati High Court in the case Kamalsing Bey v. The Union of India And 7 Ors observed and has directed the Union Government for releasing its remaining share of Rs 1636.05 lakhs for the successful implementation of scheme named, Augmentation of Greater Diphu Water Scheme in Karbi Anglong District as stated under the Non-Lapse Central Pool of Resource, NLCPR.

DELHI HIGH COURT DIRECTED DELHI GOVERNMENT: CONDUCT SURVEY OF ALL PENDING RATION CARD APPLICATION FOR DECISION ON FOOD SECURITY ALLOWANCE UNDER NFSA

The Delhi High Court in the case Shabnam v. Government of NCT Delhi And Others Connected matter observed and has directed the Delhi Government to conduct a survey of all the pending applications for ration cards and also to decides as to whether the person will be entitled to receive the food security allowance.

Allahabad High Court: Goods In Transit Cannot Be Treated As Traceable In Presence Of Tax Invoice, E-Way Bill And Bilty

The Allahabad High Court in the case M/S Bhawani Traders Versus State of U.P. observed and has quashed the penalty order passed in Form MOU-09 as stated under Section 129(1)(b) of the Goods and Services Tax Act, 2017 on the grounds that the goods in transit were duly accompanied by the tax invoice, e-way bill, and bilty.

AED 142mn worth TIR carnet transactions cleared by Dubai Customs

Dubai Customs has, to date, processed 214 customs transactions worth AED 142.2 million under cover of the International Road Transport (TIR Carnet) system, the global customs transit procedure.

SIA REPORTED RECORD QUARTER WITH NET PROFIT SURGING 98.4%

Singapore’s flag carrier also revealed plans to expand its network including adding more flights to and from Indian cities

Singapore's Deputy PM Lawrence hails Sikh's contribution

Sikhs in Singapore have distinguished themselves in their chosen professions and made significant contributions in diverse fields while retaining their culture, faith and unique identity, Deputy Prime Minister Lawrence Wong said.

Reserve Bank of India silent on Kotak CEO succession

Kotak Mahindra Bank, a private sector lender, responded to a media report claiming that the Reserve Bank of India (RBI) is pushing the bank to appoint an outsider as the successor to its current CEO, Uday Kotak.