Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    Rupee settles with 5 paise gain at 95.17 against US dollar
    India weathered Hormuz disruption without fuel shortages: Puri
    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
    DRI intensifies vigil along India's North-Eastern Frontier
    Vijayan slams Kerala govt's move to end doorstep pension delivery through cooperative banks
    Kerala to stop welfare pension delivery through cooperative banks, shifts to DBT
    China's exports slow slightly in July despite robust demand for high-tech products
    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
❯❯
MaximizeMaximizeMaximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    News
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    August 8, 2026
    Show AI Summary
    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
    Show AI Summary
    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
    Show AI Summary
    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
    Show AI Summary
    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
    Show AI Summary
    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
    Show AI Summary
    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
    Show AI Summary
    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
    Show AI Summary
    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
    Show AI Summary
    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
    Show AI Summary
    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
    Show AI Summary
    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
    Show AI Summary
    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
    Show AI Summary
    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
    Show AI Summary
    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
    Show AI Summary
    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
    August 7, 2026
    Show AI Summary
    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
    August 7, 2026
    Show AI Summary
    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
    Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
    August 7, 2026
    Show AI Summary
    Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
    Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
    August 7, 2026
    Show AI Summary
    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
    Show AI Summary
    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.

    News

    Back

    All News

    Showing Results for :
    Reset Filters
      No Records Found

      News

      Back

      All News

      whatsappJoin Channel
      Showing Results for : Reset Filters

      India Among top 10 Improvers in EODB; India Ranks 63 RD Among 190 Countries

      December 16, 2019

      Contents
      Acts
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      India Among top 10 Improvers in EODB; India Ranks 63 RD Among 190 Countries

      21,778 Startups Recognised Under Startup India Initiative

      India Ranked 52nd in Global Innovation Index

      Nirvik: New Credit Scheme for Exporters Announced; Infusion of Funds in ECGC for Export Support

      National Traders Welfare Board Established

      India’s remarkable jump in World Bank’s Ease of Doing Business Report 2020

      India ranks 63rd among 190 countries improving by 14 ranks from its rank of 77 in 2019. India has improved its rank in 7 out of 10 indicators and has moved closer to international best practices. The 2020 edition of the Report acknowledges India as one of the top 10 improvers, third time in a row, with an improvement of 67 ranks in 3 years. It is also the highest jump by any large country since 2011.

      http://164.100.117.97/WriteReadData/userfiles/image/image001SEL5.jpg

      Startup India- reaching new heights, making India a global leader in Innovation

      A total of 21,778 startups are now recognised under the Startup India Initiative, of which 2,912 startups have been recognised since 1st June 2019.

      The Startup India Hub has 3,42,614 registered users of which 21,540 users have been added since 1st June 2019.With the amendment in Section 54GB of Income Tax Act on August 1st, 2019 the condition of minimum holding of 50% of share capital or voting rights in the startup has been relaxed to 25%.

      India’s remarkable jump on the Global Innovation Index

      In the past 4 years India’s rank in the GII has improved from the 81st rank in 2015 to the present 52nd rank in GII 2019 report. India became the first developing country to launch the Global Innovation Index (GII) in association with World Intellectual Property Organisation (WIPO) and Confederation of India (CII).

       

      http://164.100.117.97/WriteReadData/userfiles/image/image003F4TQ.jpg

      In order to promote innovation the following measures have been taken:

      Final Patent (amendment) Rules, 2019 - published on 17th September, 2019 amending The Patents Rules, 2003 has led to significant simplification of rules, especially for startups and MSMEs.

      The Patent (Second Amendment) Rules, 2019 publishedto reduce fees for small entity/MSMEs for processing of patent applications under various sections of the Patents Act, 1970 will incentivise MSMEs to file for more parents.

      In order to promote export the Department of Commerce has undertaken various measures:

      Export Credit Guarantee Corporation (ECGC) has introduced a new Export Credit Insurance Scheme (ECIS) called ‘NIRVIK’ for exporters in which increased insurance cover for export credit has been extended by banks from existing average of 60% to 90% for both Principal and Interest.

      Accounts with limits below ₹ 80 crore, the premium rates will be moderated to 0.60 per annum and for those exceeding ₹ 80 crore, it will be 0.72 per annum forthe same enhanced cover. It is expected that the initiative will cost about ₹ 1,700 cr per annum. It will provide comfort to banks, bring down the cost of credit due to capital relief, less provision requirement and liquidity due to quick settlement of claims and will ensure timely and adequate working capital and relief to MSMEs.

      To enhance ease of doing business, Deemed Export drawback has been allowed on All Industry Rate of drawback schedule.

      An online portal for filing applications under ‘Transport and Marketing Assistance (TMA)' scheme for Specified Agriculture Products has been launched.

      Easing Exporters’ claims with ECGC through transparency

      A database has been prepared by ECGC for all pending claims and online access on status of claims has been provided. This will be a critical tool for providing information access to exporters.

      The online “Origin Management System”givessingle access point for all exporters, for all Free Trade Agreements (FTAs) Preferential Trade Agreements (PTAs) and for all agencies. India has 15 FTAs/PTAs and 7 lakh ‘Certificates of Origin’ are issued annually. The platform will be made live for FTAs as per the concurrence of the concerned partner countries. This process is electronic, paperless and transparent with real time tracking of FTA utilisation at product level and country level. It will also lead to reduced transaction cost and time.

      Scheme for Remission of Duties or Taxes on Export Product (RoDTEP) formulated to replace existingMerchandise Exports from India (MEIS) scheme. This will be a WTO compliant scheme for promotion of exports. Textiles and all other sectors which currently enjoy incentives upto 2% over MEIS will transit into RODTEP from 1.1.2020. RoDTEP will span all sectors and the revenue foregone will be about ₹ 50,000 crore.

      Infusion of funds for Export Support

      A capital of ₹ 389 crore has been infused into Export Credit Guarantee Corporation (ECGC) on 21st June 2019. This will provide extra support to exports to emerging and challenging markets like Africa, CIS, Latin America and Asian countries.

      A Grant-in-aid (corpus) of ₹ 300 crore has been contributed to National Export Insurance Account (NEIA) trust on 21st June 2019, thereby, enhancing its risk taking capacity to support project exports in challenging markets.

      Boost to Gem and Jewellery exportersby resolution of various issues like removal of the requirement of paying IGST on re-import of goods which were exported earlier for exhibition purpose/consignment basisAllowing partial discharge of bonds executed by nominated agencies/banks for import of gold to be supplied to jewellery exporters, thereby enabling nominated agencies/banks to release bank guarantee of jewellery exporters who have fulfilled their export obligation has helped in release of blocked working capital.

      National Logistics Policy, 2019

      The National Logistics Policy is being prepared with the aimto bring down total logistics cost from 14% to 9% of country's GDP. The policy aims to boost business competitiveness, drive economic growth and make India a global logistics hub.

      The Multi-Modal Transportation of Goods Bill, 2019 has been finalised for approvalThis aims at facilitating the movement of goods for exports, imports and domestic trade. It will help to fix accountability and liabilities for violation of its provisions.

      Skilling for Logistics Sector

      34 Qualification Packs (QPs) for skill development of manpower engaged in Logistics Sector have been developed and finalised in collaboration with Logistics Skill Council. This is  the first time that such qualification packs have been developed.

      Implementation of Agriculture Export Policy

      The Agriculture Export Policy has been approved with an outlay of ₹ 206 Crores for 2019-20. In order to establish linkage between FPOs and the exporters a portal has been created by Agricultural & Processed Food Products Export Development Authority (APEDA). About 740 Farmers Producer Organisation (FPO) have been registered under Farmers Connect Portal.

      Schemes for backward regions

      Budgetary Support under GST Regime to the units located in Jammu & Kashmir, Himachal Pradesh, Uttarakhand and North Eastern States including Sikkim has been made. ₹ 1,700 crore has been authorised by Department for Promotion of Industry and Internal Trade (DPIIT) to Central Board of Indirect Taxes & Customs (CBIC) for disbursement to eligible industrial units. ₹ 1,692 crore already been disbursed by CBIC under the Scheme till 15th November, 2019. During the last 6 months, ₹ 86 crore was disbursed to 420 industrial units under the Special Package to the Himalayan States.

      Ensuring level playing field for domestic industry and farmers

      For Antidumping theaverage number of days taken for initiation of anti-dumping investigations has come down to 32 days in 2019 (upto 1st November) as against 259 days in 2016

      Directorate General of Trade Remedies (DGTR) for the first time ever initiated 2 cases of bilateral safeguards to protect domestic industry from injury. No bilateral safeguard has ever been initiated in the past by DG Safeguards/Directorate General of Anti-Dumping and Allied Duties.

      There has been significant drop in the number of days taken to initiate two cases of Global Safeguards. In 2019, the average number of days taken is just 61, as compared the standard 75 days.

      http://164.100.117.97/WriteReadData/userfiles/image/image004TXTW.jpg

      In order to ensure interests of the Indian industry and farmers in FTAsIndia successfully laid out its stand in Regional Comprehensive Economic Partnership (RCEP)India’s key concerns were not addressed. India took a strong stance to protect the interest of domestic producers. This decision willhelp vulnerable sectors including farmers and the dairy sector as well as small manufacturers, who would have been threatened by RCEP rules.

      India has also secured agreement for review of ASEAN FTA (ASEAN-India Free Trade Area-AIFTA) after repeated follow up. This will help in removing rules that affect Indian producers and exporters and will also promote Indian exports and Make in India.

      Steel Import Monitoring System (SIMS)

      The SIMS willfacilitate the Steel Industry by providing advance information about steel imports to all stakeholders including Government,steel industry and steel importers for effective policy interventions. Importers of specified steel products will register in advance on the web portal of SIMS providing necessary information. The registration will be online and automatic and no human intervention is required.

      SIMS has been notified with effect from 1st November, 2019.

      Trade Facilitation Measures

      The completion of negotiation of India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) will enable trade promotion between the two countries.

      Improving Trade with Bangladesh - Besides the four operational Border Haats across India-Bangladesh border in Tripura and Meghalaya, construction of three Border Haats in Meghalaya, out of six already identified locations (two in Tripura and four in Meghalaya) has been completed.

      Merger of Council of Trade and Development and Board of Trade: providing a common platform for addressing stakeholder concerns

      This common platform, comprising of representatives from industry, export promotion councils, Government of India and State Governments and representatives from Banking and Finance Sector is playing a critical role in addressing export related concerns, with a focus on addressing these on a priority basis.The first meeting of this common platform took place on the 6th of June, 2019.

      Special Economic Zone (Amendment)Bill, 2019; first legislation passed by newly formed Government

      SEZ (Amendment) Bill 2019 became the first legislation of the newly formed Government to be passed by the Parliament.This will enable any entity to set up an unit in SEZs, including Trusts. This willhelp boost investments and create new export and job opportunities.

      Investments of USD 1.1 billion has been proposed since the ordinance was promulgated earlier this year.

      Better facilities for employees: SEZ units allowed to create facilities/amenities like crèche, gymnasium, cafeteria for their exclusive use as a measure towards ease of doing business.

      Promoting Foreign Direct Investment

      100% FDI has been allowed under theautomatic route for coal mining activities including associated processing infrastructure.

      100% FDI under automatic route has also been allowed in contract manufacturing.

      Providing more flexibility and ease of operations to Single Brand Retail Trading (SBRT) entities. All procurements made from India shall be counted towards local sourcing, whether goods are sold in India or exported. Online retail trading permitted upto two years prior to opening brick and mortar stores.

      Boost to Make in India in Government Procurement

      Progressive amendments have been made to favour local suppliers likeprocurement upto ₹ 50 lakhs has been exclusively reserved for local suppliers (except in certain cases). Only local suppliers eligible to bid for procurement of items, where there is sufficient local capacity and local competition, irrespective of purchase value.

      Bicycle Development Council constituted for the benefit of Bicycle Industry

       The Indian bicycle industry is the world’s second largest bicycle industry. To develop the Bicycle industry and small part manufacturers towards global standards a Bicycle Development Council has been constituted.

      National Institute of Design (Amendment) Act, 2019

      Amendment to National Institute of Design (NID) Act was moved for consideration and passing in the Rajya Sabha on 6th August, 2019 to confer Institute of National Importance status to the four new NIDs Rajya Sabha has passed the Bill. It will be introduced in the forthcoming session of the Lok Sabha for consideration and passing. The four new NIDs at Andhra Pradesh, Madhya Pradesh, Assam and Haryana to be declared as Institutions of National Importance on the lines of NID, Ahmedabad.NIDs, Madhya Pradesh and NID, Assam have commenced academic session of 2019-20 from 29th July 2019.

      Establishment of the National Traders' Welfare Board (July 26th, 2019)

      A long pending demand oftraders has been fulfilled with the constitution of the Board to understand the issues and problems faced by traders and employees in their day to day business operations and for their welfare. The Board shall have a number of representatives from Traders' Associations as members.

      Topics

      ActsIncome Tax