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GST Council addresses disaster levy, clarifies tax exemptions, and revises ITC norms, while deferring insurance premium GST cut and key rate rationalisation decisions

GST council meeting

Bihar's Deputy Chief Minister Samrat Chaudhary said another meeting of the GoM is scheduled for January before the proposal is reintroduced to the GST Council

The dispute comes at a time of growing trade tensions between the world's two biggest economies after President Joe Biden's administration placed new restrictions on the Chinese chip industry

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Also, a report by Infomerics Ratings showed that in the last five financial years WPI rose by 24.3 per cent over the past 5 years

As ethanol emerges as a source of alternative revenue for sugar companies due to differential pricing formulas and fixed buying by oil marketing companies, bio-plastics or Polylactic Acid (PLA)-based plastics are also gradually becoming a new avenue

IIFCL Rs 1,290 crore in two tranches with varying maturities

Banks mobilise Rs 8 trn via CDs  in FY25 so far

Dhaka has been behind on payments to Adani Power since supply started in July 2023

Adani group

Prime Minister Narendra Modi on Wednesday condoled the loss of lives in a boat accident off the Mumbai coast and announced an ex-gratia of Rs 2 lakh for the next of kin of each deceased.
Thirteen persons died and 99 others were rescued after a Navy craft crashed into a ferry off the Mumbai coast on Wednesday, the Navy said.
At about 4 pm, a Navy craft undergoing engine trials lost control and collided with passenger ferry Neel Kamal off Karanja near Mumbai, the Navy said in a statement. The ferry was carrying passengers from the Gateway of India to Elephanta Island, a popular tourist destination.
"The boat mishap in Mumbai is saddening. Condolences to the bereaved families. I pray that the injured recover soon. Those affected are being assisted by the authorities," Modi was quoted as saying by his office in a post on X.
"The Prime Minister has announced an ex-gratia of Rs 2 lakh from PMNRF for the next of kin of each deceased in the boat mishap in Mumbai. The injured would be given

Modi, Narendra Modi

The Trump administration has earmarked clearly three areas on the basis of which it will determine trade negotiations. One clearly is to look at ways to reducing its trade deficit with some countries

trade deficit

Aam Aadmi Party leaders in Delhi, including Chief Minister Atishi, on Saturday rejected claims that Lieutenant Governor V K Saxena has granted sanction to the Enforcement Directorate to prosecute party supremo Arvind Kejriwal in the alleged excise policy scam.
While no formal reaction was immediately available from the lieutenant governor's (LG) office on the issue, sources in the Enforcement Directorate (ED) said it is yet to receive the sanction to prosecute Kejriwal in the excise policy case linked to money laundering.
"Reports of ED getting prosecution sanction (against Kejriwal) are false. Had the LG granted prosecution sanction, why isn't the ED showing its copy," senior AAP leader Manish Sisodia, who was also an accused in the excise policy case, asked in a statement.
This is nothing but an attempt to divert attention from the "disrespect" shown by the BJP to Babasaheb Ambedkar, Sisodia alleged.
Atishi claimed reports about LG granting prosecution sanction are being spread .

Kejriwal

Uttar Pradesh has recorded the second-highest increase in the combined forest and tree cover in the country with an increase of 559 sqkm, the state government said in a statement.
"UP records the second largest increase in forest and tree cover. Total 559.19 sq km as per the latest ISFR released in Dehradun today," the statement said.
UP's Minister of State (Independent Charge) Forest and Environment, Zoological Garden, Climate Change Arun Kumar Saxena credited Chief Minister Yogi Adityanath for the increase in the green cover with his directions to all stakeholders to plant trees.
"And because of the collective efforts, we got positive and good results. We ranked second in the country in increasing the combined forest and tree cover, which is a significant achievement. Only Chhattisgarh is ahead of us," Saxena told reporters.
"Our efforts will be to take the state to the number one position," he added.
India's total forest and tree cover has increased by 1,445 sq km since 2021, .

forest cover, forest, India's green cover

Delhi's air quality improved to the 'very poor' category on Saturday, with the 24-hour average Air Quality Index (AQI) recorded at 370, officials said.
The national capital's AQI stood at 429 in the 'severe' category on Friday, they said.
An AQI between zero and 50 is considered 'good', 51 and 100 'satisfactory', 101 and 200 'moderate', 201 and 300 'poor', 301 and 400 'very poor', and 401 and 500 'severe'.
The maximum temperature in Delhi was recorded at 23.4 degree Celsius, a notch above the season's average, while the minimum temperature settled at 7.6 degrees Celsius, one notch below the season's average, the India Meteorological Department (IMD) said.
The city experienced fog in the morning hours, with humidity levels oscillating between100 per cent and 64 per cent, the department said.
The weather office has predicted moderate fog on Sunday with the maximum and minimum temperatures expected to hover around 24 and eight degrees Celsius, respectively.

Pollution, Air pollution

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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AAP rejects claims of LG granting sanction to ED to prosecute Kejriwal

UP registers second-highest green cover increase in country as per ISFR

Delhi's AQI improves to 'very poor', maximum temp at 23.4 degree Celsius

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