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    December 29, 2023
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    News
    All› News and Press Release › News and Press Release - 2023
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    December 29, 2023
    Govt. is promoting India as global MICE destination to showcase India’s MSME sector, traditional handicrafts, artisanal offerings, weavers and manufacturing prowess: Union Commerce and Industry Minister Shri Piyush Goyal
    Show AI Summary
    Promotion of India as a MICE destination to expand market access for MSMEs and artisanal value chains through mega expos.
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    December 27, 2023
    Cabinet approves Minimum Support Price for Copra for 2024 season
    Show AI Summary
    Minimum Support Price for Copra raised to ensure remunerative returns and sustain procurement under the Price Support Scheme.
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    December 23, 2023
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    Show AI Summary
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    December 23, 2023
    Factual position vis-à-vis IMF's Article IV consultations with India
    Show AI Summary
    General government debt profile largely rupee denominated with low rollover risk; IMF worst case scenario remains conditional.
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    December 22, 2023
    Centre releases ₹72,961.21 crore as additional installment of Tax Devolution to States
    Show AI Summary
    Tax devolution additional instalment authorised to bolster state financing for social welfare and infrastructure support.
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    December 21, 2023
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    Government support for trade promotion enables expansion of Indus Food, broadening exporter access and industry engagement.
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    Approval by the Competition Commission of India of a proposed combination where India Business Excellence Fund IV, a Category II AIF managed by MO Alternate Investment Advisors, will acquire certain equity shares and obtain specified special rights in Niva Bupa Health Insurance Limited, a standalone health insurer offering health and travel insurance products; a detailed CCI order will follow.
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    Commission approves subscription to equity shares of Niva Bupa Health Insurance Company Limited by V-Sciences Investments Pte. Ltd.
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    Competition clearance for proposed equity subscription in a health insurer by a foreign investment vehicle with additional rights.
    Competition approval in principle for the proposed equity subscription by V-Sciences Investments Pte. Ltd. in Niva Bupa Health Insurance Company Limited, including certain additional rights as part of the combination; acquirer is an indirectly wholly owned subsidiary of a larger investment company and the target offers health indemnity, fixed-benefit and travel insurance products; a detailed regulatory order will follow.
    December 13, 2023
    CCI approves proposed acquisition of certain shareholding in Constantia Flexibles Holding GmbH (Constantia) by Capripack BidCo GmbH (Capripak)
    Show AI Summary
    Merger control clearance for acquisition creating sole control over a global flexible-packaging company; detailed order to follow.
    The Commission approved a notified combination in which Capripack BidCo GmbH will acquire sole control of Constantia Flexibles Holding GmbH by purchasing 100% of its shareholding and voting rights from Constantia Lux S.a r.l. Capripack is an acquisition vehicle indirectly majority owned by funds managed or advised by One Rock Capital Partners; the seller is indirectly controlled by funds affiliated with the Wendel Group. Constantia is a global flexible-packaging producer whose products include aluminium foil, film and paper-based materials for food, pharmaceutical, household and other end uses. A detailed order will follow.
    December 13, 2023
    DRI rescues 436 baby Indian Tent Turtles in Lucknow
    Show AI Summary
    Protected species enforcement: seizure of illegally transported Indian Tent Turtles and transfer to forest authorities under wildlife law.
    Seizure and enforcement action followed intelligence-led interception of interstate transport of baby Indian Tent Turtles, with arrest of the transporter and seizure under the Wild Life (Protection) Act; the species is listed as a protected species under Schedule I and the matter was handed over to the Forest Department for further investigation and management.
    December 13, 2023
    Atal Pension Yojana (APY) enrolments crosse the 6 crore mark
    Show AI Summary
    Social pension guarantee expands as Atal Pension Yojana widens coverage, ensuring lifelong pension and spousal benefit.
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    India to host 27th WAIPA World Investment Conference in New Delhi
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    Investment promotion: global IPAs convene to advance policies, collaboration and sustainable foreign direct investment opportunities.
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    Over 3000 Farmer Producer Organisations and 400 Self-Help Groups, micro-entrepreneurs and social sector enterprises register to be a part of Open Network for Digital Commerce
    Show AI Summary
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    The Open Network for Digital Commerce operates as a decentralised facilitation network that does not directly onboard sellers or centrally monitor transactions, and has expanded participation by onboarding Farmer Producer Organisations, Self Help Groups, micro entrepreneurs and food sellers through seller network participants while pursuing MSME marketplace integration.
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    62nd Network Planning Group Meeting under PM GatiShakti discussed four Infrastructure Projects worth Rs 15,000 Crore
    Show AI Summary
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    Two rail projects-a Greenfield last mile link to coal blocks and a brownfield corridor upgrade to relieve congestion-plus two roads reducing travel distances and times were reviewed under PM GatiShakti to promote multimodal connectivity, increase rail and port cargo share, and support socio economic upliftment of tribal and industrial regions through integrated area development planning.
    December 8, 2023
    Union Minister of Commerce & Industry Shri Piyush Goyal commends the remarkable contribution of the consumer electronics industry in India
    Show AI Summary
    Quality Control Orders and product quality: industry urged to prioritise high standards and domestic sourcing to boost competitiveness.
    The Minister urged the consumer electronics industry to prioritise product quality and adopt Indian-made components, noting the issuance of Quality Control Orders as a regulatory step to protect consumers and enhance industry competitiveness; he framed these actions as central to job creation, scaling domestic and global competitiveness, and aligning industry practices with broader economic and social development objectives.

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      News and Press Release

      Centre releases ₹72,961.21 crore as additional installment of Tax Devolution to States

      December 22, 2023

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      Installment released today is in addition to tax devolution due to States on 10 January 2024 and the installment of ₹72,961.21 crore already released on 11 December 2023

      In view of the forthcoming festivities and the New Year, the Union Government has authorised the release of an additional installment of tax devolution amounting to ₹72,961.21 crore to strengthen the hands of State Governments for financing various social welfare measures and infrastructure development schemes.

      This installment is in addition to the tax devolution installment due to States on 10 January 2024 and the installment of ₹72,961.21 crore already released on 11 December 2023.

      The State-wise break up of amounts released is given below:

      Sl.No.

      State

      Amount (₹ in crore)

      1

      Andhra Pradesh

      2952.74

      2

      Arunachal Pradesh

      1281.93

      3

      Assam

      2282.24

      4

      Bihar

      7338.44

      5

      Chhattisgarh

      2485.79

      6

      Goa

      281.63

      7

      Gujarat

      2537.59

      8

      Haryana

      797.47

      9

      Himachal Pradesh

      605.57

      10

      Jharkhand

      2412.83

      11

      Karnataka

      2660.88

      12

      Kerala

      1404.50

      13

      Madhya Pradesh

      5727.44

      14

      Maharashtra

      4608.96

      15

      Manipur

      522.41

      16

      Meghalaya

      559.61

      17

      Mizoram

      364.80

      18

      Nagaland

      415.15

      19

      Odisha

      3303.69

      20

      Punjab

      1318.40

      21

      Rajasthan

      4396.64

      22

      Sikkim

      283.10

      23

      Tamil Nadu

      2976.10

      24

      Telangana

      1533.64

      25

      Tripura

      516.56

      26

      Uttar Pradesh

      13088.51

      27

      Uttarakhand

      815.71

      28

      West Bengal

      5488.88

       

      TOTAL 

      72961.21

       

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