PAN application requirements: father's name optional where mother is sole parent; timelines set for non individuals and representatives to apply.
Proposed amendments to rule 114 and Forms 49A/49AA would make father's name non mandatory where mother is the single parent and require mother's name when father's name is not furnished in such cases; set a deadline (31 May following the relevant financial year) for resident non individuals entering threshold financial transactions and for specified officers/representatives to apply for PAN if not allotted; and empower the Principal DG/DG (Income Tax Systems) to specify the manner of PAN issuance replacing the laminated card requirement.

Tax compliance: demonetisation-triggered deposit identification led to greater formalisation and increased tax filings and collections.
Demonetisation aimed to promote tax compliance and the formalisation of the economy by removing cash anonymity; deposits revealed previously untraceable holdings, prompting inquiries and tax assessments/penalties. Post demonetisation indicators include notable increases in income tax returns and new filers, higher advance tax payments, growth in income tax collections, and a significant rise in GST registrations, which are presented as evidence of enhanced formalisation and revenue mobilisation.

Infrastructure financing expands state highway upgrades using hybrid annuity contracts and seven-year performance maintenance commitments.
A multilateral loan finances upgrading about 419 kilometers of state highways in Karnataka, including reconstruction and strengthening of culverts and bridges, paved shoulders, and road safety audits. The project uses hybrid annuity contracts with a seven-year performance-based maintenance period to increase private participation and ensure asset quality, and it includes institutional capacity strengthening of the implementing public works department.

Fund utilization urged with mandatory documentation and timely sanction to improve program efficiency and reporting by stakeholders.
The review directs improved implementation and fund utilization under MPLADS by remedying delays in sanctioning, completion and accounting of works through timely submission of mandatory documents, prompt responses to references, enhanced portal reporting and transparency measures, and by requiring immediate use of the PFMS Expenditure, Advance and Transfer (EAT) Module together with training of all functionaries to ensure compliance and expedite further releases.

Development loan enables irrigation expansion and efficiency in Madhya Pradesh through pressurized systems and design build operate innovation.
ADB and the Government of India executed a development loan to expand and modernize irrigation in Madhya Pradesh by financing large pressurized and automated irrigation networks, pumping stations, buried distribution pipelines, farmer adoption of micro irrigation and high value crops, and a modernization feasibility study for an existing irrigation system, while promoting institutional innovation through a design build operate contracting approach to improve water productivity and climate resilience.

Demonetisation currency return: near-complete deposit and processing of withdrawn notes with increased printing and counterfeit shifts.
Reserve Bank reports near-complete return and processing of demonetised specified bank notes (SBNs): receipts were verified, counted and processed through high-speed currency verification and processing systems (CVPS), then shredded; a small residual portion did not return to the banking system. Unusual deposits faced income-tax scrutiny. The exercise increased printing and processing expenditure and altered counterfeit detection patterns across denominations, while denomination management included issuing replacement notes for some withdrawn denominations.

Disaster relief measures: financial sector review of banks' and insurers' operational steps to expedite customer assistance and claims.
A central delegation will assess coordinated relief measures by banks and insurers after extensive flood damage, focusing on re opening affected branches and ATMs, exchange of soiled currency, extension of loan repayment periods, expedited insurance claim processing through special camp offices, deployment of additional surveyors, relaxed documentary requirements, and the establishment of facilitation centres and nodal officers to publicise and deliver relief.

Energy efficiency financing expands commercial access for EESL through loan and IBRD guarantee enabling scaled deployment.
The Government of India and the World Bank provided a loan to EESL and an IBRD guarantee to expand EESL's access to commercial financing and leverage additional private capital for large scale procurement and market creation measures-mass deployment of LED lighting, efficient fans and street lighting, development of business models for efficient appliances, and institutional capacity strengthening-using annuity retrofit arrangements and increased ESCO participation to recover investments from energy savings.

Electricity distribution reform promotes governance and financial restructuring to improve DISCOM performance, operational efficiency and consumer access.
The program supports governance reforms through Annual Performance MoUs, a Performance Management System and employee incentives; advances financial restructuring by transferring DISCOM liabilities to the State and enforcing revenue discipline while reducing procurement costs; and improves operations via feeder-level energy audits, increased IT use, consumer engagement and transparency to strengthen DISCOM performance and fiscal sustainability.

Extension of Income Tax Return due date for Kerala taxpayers after flood disruption, allowing additional time to file returns.
The due date for furnishing Income Tax Returns for all assessees in Kerala who were liable to file by 31st August, 2018 is extended to 15th September, 2018 as time-limited filing relief in view of severe flood-related disruption; this follows an earlier administrative extension that had moved certain categories' due date from 31st July, 2018 to 31st August, 2018.

Electronic issuance of tax deduction certificates under Section 197 and Section 206C(9) to streamline withholding compliance.
Proposal to amend the Income-tax Rules to replace the existing Form No.13 and related provisions with an electronic process for applications and issuance of certificates under Section 197 and Section 206C(9), aiming to minimise human interface and reduce compliance burden; a Draft Notification effecting these changes has been published for stakeholder consultation.

Voting threshold reduced for creditor committees, reshaping resolution approvals and authorised representative roles in insolvency processes.
The Act amends the Insolvency and Bankruptcy Code to redefine key terms including corporate guarantor and an expanded related party definition, replaces "repayment" with "payment" in multiple provisions, and establishes authorised representatives for classes of financial creditors with prescribed rights, duties and voting instructions. It lowers qualified-majority thresholds for several committee and approval votes, requires written consents for appointment and replacement of resolution professionals, permits withdrawal of admitted applications only with ninety per cent. creditor approval, clarifies resolution applicant eligibility with exemptions for certain financial entities, and applies the Limitation Act to insolvency proceedings.

Tax audit reporting obligations deferred: GAAR- and GST-related Form 3CD clauses placed in abeyance pending further direction.
The amended tax audit format adds proposed reporting items in Form No. 3CD for GAAR and GST compliance as proposed Clause 30C and Clause 44. After representations, the tax authority issued a circular placing reporting under those two proposed clauses in abeyance, suspending immediate compliance with the GAAR- and GST-related entries in the tax audit report.

Income tax certificates for no or lower deduction/collection must be applied in Form No.13 electronically with specified security standards.
Applications for certificates under section 197 and section 206C(9) must be made in Form No.13 electronically, under digital signature or electronic verification code, and the designated systems authority shall specify procedures, formats and standards for secure capture, transmission, uploading, issuance, and archival and retrieval policies. Certificates may be issued where payers exceed one hundred and their details are unavailable, and Assessing Officers will determine existing and estimated liability using estimated income for the relevant year, income of the last four years, existing income and wealth tax liabilities, and advance tax, TDS and TCS paid to date.

Tariff value revision: new import valuation benchmarks notified for specified commodities affecting customs valuation and compliance.
The Central Board of Indirect Taxes & Customs has amended a prior notification by substituting TABLE-1, TABLE-2 and TABLE-3 to prescribe revised import tariff values for specified goods, including various palm oils, palmolein, crude soybean oil, brass scrap, poppy seeds, areca nuts, and per-unit valuations for gold and silver where certain notification entries are availed, thereby providing the tariff-value benchmarks to be applied for customs import valuation and related compliance.

Guaranteed minimum pension scheme provides defined benefits at retirement with government co contribution and shortfall support.
The Atal Pension Yojana provides a defined benefit guaranteed minimum monthly pension from age sixty for eligible unorganised sector citizens joining through savings bank or post office accounts, with a limited government co contribution for qualifying subscribers. If accumulated returns are inadequate to fund the guaranteed pension the Central Government funds the shortfall, while any excess returns accrue to the subscriber. Survivorship, nominee payment, flexible contribution periodicity, and default regularisation mechanisms are provided; PFRDA/CRISIL have proposed a women focused pension policy and tax relief for pension savings.

Defined contribution pension reform affirms NPS features, portability, tax deductions and amended withdrawal and exit rules.
Defined contribution pension reform establishes the National Pension System (NPS) with a prudential unbundled regulatory architecture overseen by PFRDA, listing intermediaries and noting low institutional costs, compounding of pension wealth, online transparency and portability. It sets out subscriber-facing mechanisms: tax-deductible Tier-I contributions with an additional rebate, partial withdrawal rights subject to conditions and liberalized tenure requirements, expanded maximum entry age for certain models, and facilitated exits for disability, while recording no proposal to revert to the old defined benefit pension for recent recruits due to fiscal concerns.

PAN as sole identifier: mandatory PAN-based KYC, cash transactions barred and demat delivery required in securities dealings.
SEBI requires PAN as the sole identifier for securities market participants and mandates PAN submission for transfers; brokers are prohibited from accepting or giving cash for securities transactions and must transact payments via crossed cheques, demand drafts, electronic transfers or RBI permitted modes; securities delivery should be in dematerialised form to beneficiary accounts except under approved schemes.

Capacity building of Financial Advisers strengthens public financial management through combined domestic and foreign training.
The Department of Expenditure's 12-day customised training for Financial Advisers combines domestic and foreign components to update skills in Public Financial Management, interleaves office attendance to align work and training, and uses nominated participants with substitute arrangements to ensure continuity of departmental functions while enhancing capacity for fiscal prudence and sound financial management.

Nodal role in climate finance coordinates international representation and provides analytical policy inputs without implementing programmes.
The Climate Change Finance Unit serves as the nodal point in the Ministry of Finance for climate finance matters, prepares the Economic Survey chapter on climate change and sustainable development, provides analytical inputs to the National Climate Policy Framework, represents the Government of India in multilateral climate finance fora including climate negotiations and the G20, and does not implement programmes or schemes directly.