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    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
    China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence
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August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
Show AI Summary
Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
Show AI Summary
Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.

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News and Press Release

101st Meeting of Network Planning Group under PM GatiShakti evaluates key Infrastructure projects

November 7, 2025

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NPG evaluates projects from Ministry of Road, Trasport & Highways (MoRTH), Ministry of Railways (MoR)

The 101st meeting of the Network Planning Group (NPG) was convened today to evaluate infrastructure projects related to Roads, Transport & Highways, and Railways. The discussions focused on strengthening multimodal connectivity and improving logistics efficiency in alignment with the PM GatiShakti National Master Plan (PMGS NMP).

The NPG evaluated projects of Road/Highway of MoRTH and Rail projects of MoR, for their conformity to the PM GatiShakti principles of integrated multimodal infrastructure, last-mile connectivity to economic and social nodes and ‘Whole of Government’ approach. These initiatives are expected to boost logistics efficiency, reduce travel times, and deliver significant socio-economic benefits to the catchment areas of the project. The evaluation and anticipated impacts of these projects are detailed below:

Ministry of Road, Transport & Highways (MoRTH)

(i) Rehabilitation and Upgradation of NH-160A from Ghoti to Palghar (Maharashtra)

The Ministry of Road Transport and Highways (MoRTH) has proposed the rehabilitation and upgradation of National Highway 160A (NH-160A) from Ghoti to Palghar, spanning a total length of 154.635 kilometers in the state of Maharashtra. The NH-160A corridor serves as a strategic alternate freight route connecting the industrial clusters of Nashik and adjoining MIDC areas (Ambad and Satpur) to the western coastal ports, significantly reducing dependence on existing routes passing through Nashik city. The proposed upgradation will enable efficient port access, decongest urban corridors, and enhance freight mobility for industrial and commercial traffic. The project will also strengthen intermodal connectivity by improving linkages with nearby railheads (Nashik, Palghar, and Dahanu railway lines) and major highways including NH-60, NH-48, and NH-848, ensuring improved last-mile connectivity for both passenger and freight movement.

The upgradation of NH-160A is expected to deliver multiple benefits, including:

  • Development of a high-capacity alternate freight corridor, linking Nashik’s industrial hubs with western ports and markets in Palghar.
  • Improved access to the Nashik Multi-Modal Logistics Park (MMLP) and other port-bound economic corridors.
  • Faster transport of perishable goods, supporting cold-chain and agricultural value chains.
  • Promotion of tourism and MSME growth in regional centers such as Trimbak, Jawhar, Manor, and Palghar.

Overall, the project will enhance regional logistics efficiency, improve industrial competitiveness, and promote balanced socio-economic development across northern and western Maharashtra, while strengthening connectivity to major trade and port hubs.

(ii) Development of 2-Lane with Paved Shoulder from Hiwarkhedi to Basinda-Roshni (Betul – Khandwa)

         Development of 2/4 lane with paved shoulder of Ashapur to Rudhy (Betul – Khandwa) (Madhya Pradesh)

The Ministry of Road Transport and Highways (MoRTH) has proposed the development of a 2-lane carriageway with paved shoulders from Hiwarkhedi to Basinda–Roshni, and the widening of the existing 2-lane road to a 4-lane divided carriageway with paved shoulders from Deshgaon to Julwaniya, in the state of Madhya Pradesh. The proposed corridor covers a total length of approximately 300 kilometers. The project corridor serves as a strategic arterial route, enhancing interstate connectivity and linking cities of national importance across Madhya Pradesh, Maharashtra, Gujarat, and Rajasthan. It will improve regional linkages with major urban centers such as Udaipur, Jhalawar (Rajasthan); Ahmedabad, Vadodara, Bharuch (Gujarat); Nashik, Dhule, Aurangabad, Amravati, Akola (Maharashtra); and Indore, Ujjain, Bhopal, and Khandwa (Madhya Pradesh).

The corridor will provide an alternate and shorter route between Nagpur and Vadodara, thereby facilitating efficient movement of freight and passenger traffic across central and western India. Upgradation of the project road will also improve access to key industrial and economic zones, including District Trade and Industry Centre in Barwani, Anjad, Khargone, and Bhikangaon, as well as the NTPC Super Thermal Power Station at Selda, Khargone.

The project is expected to boost regional trade, enhance logistics efficiency, and support industrial development by strengthening connectivity between production centers, markets, and ports. It will also contribute to reduced travel time, lower transportation costs, and improved access to key economic and administrative centers. Overall, the proposed development will serve as a catalyst for economic growth, promoting balanced socio-economic development and strengthening regional connectivity across Madhya Pradesh and adjoining states.

Ministry of Railways(MoR)

(iii) 3rd & 4th line from Gamharia to Chandil (Jharkhand)

The Ministry of Railways has proposed the construction of a 3rd and 4th railway line between Gamharia and Chandil in the state of Jharkhand, spanning a total length of 56 kilometers.

The project aims to address severe congestion in the existing Kandra–Chandil section, which is currently operating at 130%-line capacity utilization, including maintenance blocks. Forecasts indicate that capacity utilization may reach 141% in the near future, highlighting the urgent requirement for capacity augmentation to ensure smoother and more efficient train operations. The Gamharia–Chandil corridor is a critical freight route, facilitating the movement of iron ore and raw materials from the Chakradharpur Division to steel plants at Burnpur and Durgapur, as well as sponge iron industries in the Asansol region. The section plays a vital role in supporting the industrial supply chain and mineral logistics across eastern India. With a maximum permissible speed of 130 km/h on the existing line, the proposed expansion will further enhance operational efficiency and throughput capacity.

Upon completion, the project will significantly increase line capacity, reduce congestion, and enhance freight movement efficiency. It will also strengthen connectivity for industrial and mineral-based freight corridors, improving logistics performance and supporting the economic growth of eastern India.

(iv) 4th Line from Sainthia-Pakur (West Bengal & Jharkhand)

The Ministry of Railways has proposed the construction of a 4th railway line between Sainthia and Pakur, covering a total length of approximately 81.20 kilometers across the states of West Bengal and Jharkhand. The project aims to augment line capacity and reduce congestion on the existing busy corridor, ensuring efficient movement of both freight and passenger traffic. The section has been designated as an “Energy Corridor”, highlighting its strategic role in supporting industrial supply chains and power sector logistics in eastern India. The corridor traverses a region with substantial untapped freight potential, particularly from industrial clusters that currently rely on road transport. The introduction of the 4th line will facilitate a modal shift from road to rail, enhancing cost efficiency, reliability, and sustainability in freight movement. The proposed expansion will lead to improved train punctuality, higher average freight speeds, and optimal utilization of rolling stock and crew resources, thereby generating significant operational savings by minimizing detention of goods trains.

The project will have a positive impact on several major industries and facilities, including:

  • Power plants operated by WBPDCL – Santhaldih, Bakreswar, and Sagardighi Thermal Power Stations;
  • Cement plants – Ambuja Cement (Tildanga) and Ultratech Cement (Sonar Bangla Unit);
  • Mining operations – Stone mines, Rajmahal Coalfield, and Pachwara Coal Block.

Additionally, the project will strengthen rail-based logistics for iron and steel industries, chemical plants, thermal power stations, and mining operations, contributing to the region’s industrial growth, energy security, and logistics efficiency.

Upon completion, the Sainthia–Pakur 4th Line Project will play a pivotal role in enhancing freight mobility, supporting industrial expansion, and boosting economic development across eastern India. The meeting was chaired by Joint Secretary, Logistics, Department for Promotion of Industry, and Internal Trade (DPIIT) Shri Pankaj Kumar.

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