Exchange rate determination for customs conversion: new official rates set for imports and exports under statutory conversion power.
Central Board of Excise and Customs prescribes official exchange rates, effective 18 April 2014, for conversion between specified foreign currencies and Indian rupees to be used in customs valuation of imported and export goods, superseding the prior notification except as to past actions; rates are listed in Schedule I (per unit) and Schedule II (per 100 units) and apply for purposes of statutory conversion power in customs assessment.

Tariff valuation update: revised customs tariff values for specified edible oils, metals and agricultural imports take effect.
The Central Board of Excise & Customs, under section 14(2) of the Customs Act, substitutes TABLE-1, TABLE-2 and TABLE-3 of Notification No.36/2001-Customs (N.T.) to prescribe revised tariff values for specified imported goods, including various palm oils and palmoleins, crude soybean oil, brass scrap, poppy seeds and areca nuts (per metric tonne), and unit values for gold and silver linked to benefits under entries of Notification No.12/2012-Customs.

Designation as Finance Secretary: government approved the Secretary, Department of Economic Affairs to hold the finance secretary title.
The Appointments Committee of the Cabinet authorized that the serving Secretary of the Department of Economic Affairs be designated Finance Secretary, leaving the incumbent's substantive appointment as Secretary, Department of Economic Affairs intact while conferring the additional titular role for purposes of coordination and protocol.

Legal tender status confirmed for newly issued commemorative coins; circulation authorized and existing denomination coins remain valid.
Commemorative coins will be placed into circulation by the national monetary authority; design and specifications were notified in the official Gazette, and the coins are declared legal tender under the Coinage Act 2011 while existing coins of the same denomination continue to remain legal tender.

Exchange rate determination: revised foreign currency conversion rates prescribed for import and export valuation under customs rules.
Determination under the Customs Act prescribes revised exchange rates for conversion between specified foreign currencies and Indian rupees for import and export transactions, effective 4th April, 2014; Schedule I lists per-unit rates for major currencies and Schedule II lists per-hundred-unit rates for specified currencies, with distinct figures for imported and exported goods and supersession of the prior notification except for prior actions.

Director nomination: Secretary of Financial Services appointed to the central bank's board, effecting an administrative change in board composition.
The Central Government nominated the Secretary, Department of Financial Services, Ministry of Finance, as a director on the Reserve Bank of India Central Board replacing the outgoing director; the appointment takes effect from the stated commencement date and continues until further orders.

Uniform price auction of government securities permitting competitive and non-competitive electronic bids with reserved allotment.
The government will re-issue four government stocks via a uniform price auction administered by the RBI Mumbai office through the E-Kuber system; up to five percent of each notified amount is reserved under the non-competitive bidding facility, with distinct electronic submission windows for non-competitive and competitive bids, auction results announced on the auction date, settlement on the designated payment date, and eligibility for when-issued trading under RBI guidelines.

Direct Taxes Code reform: broaden tax base and clarify treatment of wealth, dividends, and investment incentives.
The revised Direct Taxes Code consolidates and simplifies direct tax law to broaden the tax base and improve compliance by expanding wealth-tax to all assets, redefining taxable income from house property using gross or presumptive rent, lowering the threshold for taxing indirect transfers of assets while exempting very small shareholdings, introducing an additional tax on large dividend recipients and a top marginal rate for very high incomes, ring-fencing losses from specified investment-linked incentive businesses, rationalising incentives and research deductions, and clarifying GAAR and transition measures including carry-forward of losses and MAT credit.