Financial sector legislative reform: government places FSLRC report in the public domain, enabling public access to reform proposals.
The Central Government placed the report of the Financial Sector Legislative Reforms Commission, submitted March 22, 2013 and comprising two volumes, in the public domain on the Finance Ministry website, providing public access to the Commission's legislative reform proposals for the financial sector via the Finance Ministry online portal.

Service Tax e filing: offline ST 3 utility released; taxpayers must update registration to enable filing by the deadline.
The modified Service Tax Return (ST 3) for July-September 2012 is available as an offline e filing utility on ACES and must be downloaded from the Downloads section or via RET -> e Filing -> Download eFiling Utility; consult the FAQs under Help before filing. After upload, return status can be checked under RET -> e Filing -> View XML Status and viewed later via 'View Original ST3'/'View ST3'. Registrants added on or after 01.07.2012 labeled 'All Taxable Services - Other than in the Negative List' must amend registration online to select specific services before filing ST 3 for July 2012 onwards.

Interest rate revision for small savings schemes announced, with annual notification and rates effective from start of the financial year.
Interest rates for small savings schemes are revised and will be notified annually before each financial year, with the revised, scheme-specific rates taking effect from the commencement of the financial year to reflect the compounding or payment mechanisms built into each instrument.

Inquiry into lobbying activities: committee met company representatives and will await their responses before further proceedings.
Inquiry into alleged lobbying activities by a multinational retailer: a single-member Inquiry Committee chaired by Justice Mukul Mudgal met with company representatives and counsel to clarify queries, and decided to await the companies' written responses before convening further proceedings.

Interest subvention extension increases subsidised credit access for exporters by expanding eligible sectors and subsectors.
The Interest subvention scheme reduces exporters' credit costs and has been expanded from Handlooms, Handicrafts, SMEs and Carpets to include Toys, Sports Goods, Processed Agricultural Products and Readymade Garments, and was further widened effective 1 January 2013 to cover a comprehensive list of engineering subsectors, thereby enlarging the eligibility framework for subsidised export finance.

Anti-dumping investigation on solar PV modules from selected countries initiated under trade remedial procedures to assess dumping.
Initiation of an anti-dumping investigation was announced for imports of solar cells, whether assembled into modules or panels or on substrates, originating in or exported from specified foreign sources, commenced under Notification No.14/5/2012-DGAD dated 23rd November, 2012, as communicated by the Minister of State; the Directorate General of Anti-dumping and Allied Duties will examine alleged dumping and possible trade remedial measures.

Foreign investment automatic route allows full FDI for oil and natural gas projects, subject to sectoral regulatory framework.
Full foreign direct investment is allowed via the automatic route for exploration, marketing and related infrastructure in the oil and natural gas sector, including pipelines and LNG regasification, subject to the existing sectoral policy and regulatory framework and the government policy on private participation in exploration and discovered fields, and thus does not envisage separate government approval for bringing such FDI into companies engaged in these activities.

Policy repo rate cut leaves limited room for further monetary easing amid high food inflation and external risks.
Reduction of the policy repo rate under the Liquidity Adjustment Facility and corresponding adjustments to reverse repo, Marginal Standing Facility and Bank Rate are the principal monetary actions, supported by active liquidity management (including open market operations and prior CRR reduction) to anchor money market rates and ensure credit flow. Persistently high food-driven headline inflation, divergence between wholesale and consumer prices, latent administered-price pressures, and a large current account deficit limit the headroom for further monetary easing despite growth concerns.

Preference for domestically manufactured electronics in government procurement, conditioned on manufacture in India and WTO exemptions.
Preference is granted for domestically manufactured electronic products in government procurement-covering Desktop PCs, Printers, Laptops and Tablets-applicable across Ministries/Departments and agencies for government use (excluding Defence) and not for commercial resale or production for sale; eligibility depends on manufacture in India and the scheme is presented as consistent with WTO commitments due to GATT exemptions and India's non participation in the Government Procurement Agreement.

Wholesale Price Inflation rose month on month as fuel and primary articles drove gains while manufacturing eased in February
Wholesale Price Index for February 2013 shows a provisional increase in the All Commodities index and a higher year on year inflation rate than the previous month. The movement reflects modest gains in Primary Articles, a marked rise in Fuel & Power driven by higher LPG and diesel prices, and a marginal decline in Manufactured Products with mixed subgroup trends. Detailed annexures supply disaggregated indices, month on month rates, build up for the financial year and six month inflation trends for major groups and selected items.

Green channel status streamlines inclusion on DGS&D rate contracts, expanding access to pre-qualified reputed suppliers for departments.
The government designates green channel status for DGS&D rate contracts to PSUs and Indian or foreign firms meeting financial thresholds: average turnover of one thousand crore over the last three years and profitability in any three of the last five years, creating objective supplier eligibility for streamlined inclusion on DGS&D procurement listings; twenty firms have been granted the status with area-wise distribution across major commercial centres to facilitate user departments' access to reputed suppliers.

Advanced manufacturing collaboration: India invites Czech automotive and engineering firms to invest in National Investment Manufacturing Zones.
India invites Czech investment into National Investment Manufacturing Zones, focusing on Czech strengths in automotive manufacturing, heavy engineering and metal cutting machine tools, and highlights participation of Czech firms in IMTEX as a pathway for industrial collaboration. The Ministers propose institutional cooperation in advanced and niche technologies, plan Joint Working Groups on Advanced Manufacturing and Heavy Engineering, Skills and Innovation, and Mining, and identify defence industrial collaboration - including joint research, development and production of defence systems - as a distinct area for bilateral partnership.

Enhancing World Bank capital base to expand finance for infrastructure and poverty reduction in developing countries.
Enhancing the capital base of the World Bank to support expanded financing for infrastructure and poverty reduction in developing countries was emphasized as a priority, and India and the World Bank discussed options for increasing external finance to meet large investment needs in infrastructure, social and rural development.

Trade balance widens as imports rise and oil imports drive a larger deficit despite mixed export performance.
Exports in February 2013 showed modest dollar-term growth while cumulative April-February exports fell in dollar terms but rose in rupee terms, reflecting exchange-rate effects. Imports increased monthly and cumulatively in both currencies; oil imports rose substantially while non-oil imports declined. Together these movements produced a larger trade deficit for April-February 2012-13 than in the prior year, with provisional tables detailing dollar and rupee values, percentage changes, and trade balances.

Spice park establishment: proposed sites listed with staged implementation, feasibility studies, and pending land or litigation.
Establishment of Spice Parks at multiple state locations is at varied stages: some nearing completion, some with works in progress, some delayed by court cases or pending land provision, and several requiring preparation or approval of a Detailed Project Report; the Spices Board and engaged consultants are conducting techno-feasibility studies and preparing project reports to advance implementation.

Generic drug user fees now fund and accelerate application review and inspections, applying to domestic and international manufacturers.
The Generic Drugs User Fee Act 2012 imposes prescribed user fees on registration submissions for generic pharmaceuticals to fund and expedite application review and inspections, applying to both domestic and international manufacturers and tying fees to specific filing categories such as abbreviated new drug applications and drug master files.

E-governance for debt recovery tribunals to automate processes, improve case tracking and speed enforcement actions.
Proposal to introduce e-governance in Debt Recovery Tribunals and their appellate bodies to automate procedures, improve case management, provide timely reports, enable banks and parties to track case information, and supply Recovery Officers with technological tools to expedite enforcement; no implementing agency has been finalized.

E-auction of secured immovable property mandated for SARFAESI auctions to ensure transparent, fair and accessible disposals.
Public Sector Banks were advised to conduct all auctions of immovable properties under SARFAESI through electronic bidding to ensure free, fair and transparent disposals; a service provider for e-auctions has been finalised and many banks have commenced using the electronic platform for sale of secured immovable assets.

States' share in central taxes fixed for the finance commission period, with annual devolution figures disclosed and schedule noted.
Allocation of States' share in sharable central taxes was fixed at 32 percent for the period 1 April 2010 to 31 March 2015 under the 13th Finance Commission, and devolution to States has been made accordingly with tabulated net proceeds and States' share released for 2010-11, 2011-12 and 2012-13.

Unclaimed insurance funds must not be appropriated, regulatory guidance enforces insurer compliance and reporting obligations.
The regulator reported total unclaimed insurance balances, concentrated in the life segment with a smaller non life portion, and issued a circular prohibiting insurers from appropriating or writing back those unclaimed amounts, requiring preservation of the sums and continued regulatory reporting and monitoring.