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    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
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    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
    Show AI Summary
    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
    Show AI Summary
    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
    Show AI Summary
    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
    Show AI Summary
    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
    Show AI Summary
    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.

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      IMPACT OF AI ON HUMAN CAPITAL IN INDIA AND EMERGING ECONOMIES

      December 24, 2025

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      Sonipat, 24 December, 2025: In a ground-breaking symposia during pre-summit preparations for understanding the impact of AI on Human Capital in India and on Emerging economies, O.P. Jindal Global University in partnership with The All India Council for Technical Education (AICTE) brought together key academics, thought leaders, market experts, legal luminaries and experts to enable a framework and model for this key development which will have a significant influence on people, policies and nation building including higher education. The proposed summit to be held from 16th February 2026 to 20th February 2026 will focus on strategies that can equip India and its policies for the human capital, across the primary, secondary and tertiary sectors of the economy as well as the functioning of governments at central and state levels, for achieving its goal of Viksit Bharat @ 2047.

      The pre-summit discourse was spread over an inaugural session, followed by two panel discussions to primarily delve into understanding what policy frameworks are needed to ensure AI diffusion benefits both formal and informal sectors, particularly rural and low-income communities and how can national skilling missions and education systems be aligned with the evolving demands of an AI-driven economy. They also deliberated about how AI can be leveraged to enhance productivity without exacerbating inequality or displacing vulnerable workers, what models exist (e.g., cooperatives, agri-tech partnerships, public data commons) to democratize access to AI tools, who bears responsibility for retraining and redeployment: the employers, the state, or educational institutions and how can India’s AI policies incorporate global best practices while reflecting local socio-economic realities.

      On the momentous occasion of the Pre-Summit Event, Professor (Dr.) C. Raj Kumar, Founding Vice-Chancellor of O.P. Jindal Global University, welcomed the effective convening of the pre-summit event on “Impact of AI on Human Capital in India and Emerging Economies”, organised by the University in collaboration with the All India Council for Technical Education (AICTE).

      He observed that for a country like India, with its distinctive demographic profile and developmental aspirations, the central challenge lies not merely in adopting new technologies, but in ensuring that artificial intelligence is responsibly integrated to strengthen human capital, enhance productivity, and promote inclusive and ethical growth. He underlined that the discussions appropriately focused on channelling AI’s transformative potential through regulatory foresight, responsible deployment, and sustained investments in reskilling and institutional capacity, particularly in the context of India’s vision of Viksit Bharat @ 2047.

      Professor Kumar further emphasised that universities have a critical role to play in shaping the future of AI governance and capacity-building. At O.P. Jindal Global University, particularly through the Cyril Shroff Centre for AI, Law and Regulation at Jindal Global Law School, the University is committed to advancing interdisciplinary research, education, and dialogue that bridge law, technology, public policy, and the social sciences.

      Adding to the discourse on the evolving nature of India’s workforce and the future of skills, Professor Dabiru Sridhar Patnaik, Registrar, O.P. Jindal Global University, in his welcome address to the distinguished gathering, “The deployment of AI comes with a transformative potential for all sectors of the economy, both in terms of productivity and output. However, it also implies challenges of skill development and redundancy. In the tertiary sector, the impacts of AI deployment are already visible with job cuts and lay-offs across the IT and ITES, education, accounting, audit, legal and allied services industries. Similarly, work structures and skill requirements have also significantly reshaped across multiple sectors. Deployment of AI presents opportunities as well as adaptive challenges. It indeed has the potential to aid India in achieving its goal of Viksit Bharat by 2047. However, India needs to ensure it provides equitable distribution of this technology and can take measures to mitigate severe workforce displacement. This Pre-Event Summit seeks to discuss the impact that AI is likely to have on human capital, in all sectors of the Indian economy.” The pre-summit discussions began with an inaugural session which also included leading academics of JGU. The first panel discussion was on AI and Human Capital in the Primary, Manufacturing, Accounting, BFSI Services sector & Capital Markets which explored how AI-based systems in agriculture, manufacturing, accounting, audit and BFSI sectors which can enhance productivity, efficiency, and sustainability while addressing implications for labour and livelihoods. The discussants included Dr. Charan Singh-(CEO Egrow Foundation & Former Chairman Punjab & Sind Bank), Dr. Amarjit Chopra- (Director, Tata Power Trading, Member BoG, MDI Gurugram Former President, Institute of Chartered Accountants of India, Member NFRA & Ex Chairman, NACAS)- Online, Mr. Sushil Agarwal (Chairman & Managing Director Avro India Ltd.), Dr. Dinesh Tyagi, IAS (Retd.) (Chairman SODES), Mr. Sumit Mathur (Director Gen AI-NatWest Group), Prof. (Dr.) Nandita Bhan, Professor & Vice Dean (Academics- JSPH), Dr. Chavi Asrani, (Associate Professor-JSBF), Prof. Mayank Dhaundiyal (Professor & Dean- JGBS), Prof. Dayanand Pandey (Professor & Dean- JSBF) and Prof. R. Sudarshan (Professor & Dean- JSGP).

      It was noted that AI-powered automation is gradually transforming how industries operate, creating new opportunities for safer and more efficient workflow. This also comes with a greater demand for roles that require digital and technical skills. At the same time, these shifts can displace routine jobs and widen skill gaps, especially for smaller firms, including MSME’s, that struggle to adopt new technologies. The challenge is to use AI to boost productivity while helping workers adapt through reskilling and ensuring that the benefits are shared across the manufacturing workforce.

      The second panel was on AI and Human Capital in Healthcare, Education, Legal Education, IT & IT enabled Services. It examined how AI-driven automation and analytics are reshaping employment, skills, and the structure of the services sector – particularly areas such as education (STEM & Liberal Arts), legal education & services, IT-Enabled Services (ITES), e-governance, public services and healthcare services. The panel discussed the impact of AI on the manufacturing sector wherein AI-enabled robotics, intelligent automation as well as data-driven production systems are changing workforce requirements. The panel would explore technological shifts across both services and manufacturing sectors are redefining job roles, skill needs, and organizational practices, and what this means for the future of human capital in an AI-integrated economy.

      The participants were Dr. Abhilasha Gaur (CEO-NASSCOM IT-ITeS SSC), Mr. NSN Murty (Partner & Leader, Government and Public Services, Technology and Transformation, Deloitte India), Mr. Sanjay Kumar Rakesh, IAS (Former Addl. Chief Secretary, Govt. of Tripura, Ex. Jt. Secretary, MeitY, Govt of India), Prof. (Dr.) Nitesh Bansal (Professor & Vice Dean JSPH, Dean OOPSS), Mr. Sandeep Arora (Vice President- Capgemini), Mr. Akashdeeep (IPoS-Post-Master General- India Post Gurugram Region) and Mr. Satwik Mishra (Public Policy Manager - AI and State Management - Google).

      This panel also examined how AI-driven automation and analytics are reshaping employment, skills, and the structure of the services sector – particularly areas such as education (STEM & Liberal Arts), legal education & services, IT-Enabled Services (ITES), e-governance, public services and healthcare services.

      The deliberations were looking at substantial outcomes and aimed to create a platform for dialogue among policymakers, industry leaders, experts, technologists, and academics to discuss the evolving landscape of AI. It involved dialogue and analysis of how to put human capital at the centre of India’s AI journey towards Viksit Bharat @ 2047, facilitate an open exchange of perspectives on ethical, legal, and economic challenges posed by AI on human capital in primary, manufacturing and tertiary sectors, deliberate on strategies for equipping India’s workforce to adapt to the AI-driven economy, with a focus on reskilling, education, and inclusion. The discussants also explored global approaches to skill development of human capital due to the introduction of AI, from the EU to the U.S & draw insights relevant for India and to encourage multi-stakeholder collaboration, ensuring that governance models are not only legally sound but also socially responsible and technologically feasible while also enabling an exchange of viewpoints on building India as a global AI hub and exporter of talent to help India being the first mover in AI-integrated education and a global benchmark in AI skilling and research.

      (Disclaimer: The above press release comes to you under an arrangement with O.P. Jindal Global University and PTI takes no editorial responsibility for the same.). PTI PWR

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