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March 25, 2026
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Insolvency resolution delays under the bankruptcy code draw debate over tribunal capacity, creditor recoveries, and reform priorities.
Delay in insolvency resolution under the Insolvency and Bankruptcy Code remained the central issue in parliamentary discussion on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. Members referred to tribunal capacity constraints, overburdened case loads, delayed liquidation and resolution timelines, value deterioration, and low realisations to creditors as continuing problems in the insolvency ecosystem. The select committee report was noted as seeking to address these structural concerns through amendments aimed at improving the functioning of the insolvency and bankruptcy framework.
March 25, 2026
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Electricity tariff reduction cuts power charges by one paisa per unit across all consumer categories for FY27.
Electricity tariff for all consumer categories in Himachal Pradesh has been reduced by one paisa per unit for FY27, effective from 1 April 2026. The tariff order fixes the average cost of supply at Rs 6.75 per unit after truing up, resulting in a corresponding reduction in energy charges across consumer classes. The revised schedule sets category-wise tariffs for domestic, commercial, industrial, agricultural, railway, EV charging, irrigation, bulk supply, and street lighting consumers, while domestic subsidy is left to the state government decision and compensation mechanism.
March 25, 2026
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Money laundering attachment over Mahadev betting assets targets alleged proceeds of crime and overseas luxury properties.
Provisional attachment under the Prevention of Money Laundering Act was issued against immovable assets linked to the Mahadev Online Book betting operation, including luxury properties in Dubai, apartments in Burj Khalifa and two properties in Delhi. The attached assets were alleged to represent proceeds of crime generated from illegal online betting activities controlled through entities associated with the main promoter of the platform.
March 25, 2026
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Insolvency and Bankruptcy Code reform focuses on faster resolution, out-of-court settlements, and cross-border insolvency provisions.
The Insolvency and Bankruptcy Code is described as a revival and resolution framework that has generated substantial recoveries through resolution of bankrupt companies and improved creditor-debtor discipline. The proposed amendment bill seeks to reduce the time taken for admission of insolvency resolution applications, speed up case clearance, support out-of-court resolution, and address cross-border insolvency and discretionary provisions.
March 25, 2026
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Power tariff unchanged as the commission prioritizes revenue neutrality, loss reduction, and efficiency in electricity distribution.
The Haryana Electricity Regulatory Commission kept power tariff unchanged for the 2026-27 financial year and treated the Annual Revenue Requirement of the distribution licensees as revenue-neutral despite a projected revenue gap. The order linked the decision to improved efficiency in revenue collection, receivables management, power procurement and loss reduction, while also fixing distribution loss levels and directing feeder-level monitoring to curb losses.
March 25, 2026
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Permanent Establishment audit reporting governs royalty and technical fees income for non-residents under the prescribed form.
Form No. 24 is a prescribed audit report for non-residents, foreign companies, and other non-resident entities deriving royalty or fees for technical services from India through a Permanent Establishment or fixed place of profession in India. It is certified by an Accountant and is mandatory where such income is effectively connected with the Indian Permanent Establishment or fixed place of profession. The form requires books of account, supporting documents, annexures, and electronic certification details, and is furnished annually before the return due date. Furnishing and acceptance of the form support assessment on a net income basis.
March 25, 2026
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Skill Development Project notification under income tax law links approval, audit compliance, and renewal conditions for eligible companies.
Form 23 is the CBDT notification form for an approved Skill Development Project under Section 47(1)(b) of the Income-tax Act, 2025 read with Rules 39 and 40. It is issued after Form 22 is examined and recommended by NCVET, and it specifies the approved Tax Year(s), project particulars, conditions, and validity for up to three Tax Years. The framework requires separate books, audit, prescribed reporting, compliance with notification conditions, and permits renewal or revocation depending on project performance and statutory compliance.
March 25, 2026
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Skill development project notification governs approval, tax-year limits, conditions, and compliance for income-tax benefits.
Form 23 is the income-tax notification form for an approved skill development project under Section 47(1)(b) of the Income-tax Act, 2025, issued after approval under Rule 39. It notifies the project in the Official Gazette, specifies the approved tax years, and sets the terms, duration, and expenditure limits. The notification is issued by the Central Board of Direct Taxes on recommendation of NCVET, and contains the company's particulars, project details, training institute details, approved tax years, estimated expenditure, and attached conditions.
March 25, 2026
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Skill Development Project approval under income tax rules requires Form 22 filing, structured disclosures, and electronic verification.
Form 22 is the prescribed Income-tax application by which an eligible company seeks approval of a Skill Development Project under Section 47(1)(b) of the Income-tax Act, 2025 read with Rule 39. The form is filed with the National Council for Vocational Education and Training for recommendation to the Central Board of Direct Taxes, and it must be submitted electronically using DSC or EVC before commencement of the project. It requires disclosure of company particulars, project particulars, training institute details, prior notifications or revocations, return of income data, penalties, outstanding tax demands, expenditure projections, and supporting annexures.
March 25, 2026
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Free trade agreements and voluntary CSR are highlighted as tools for quality-led growth and inclusive development.
India's expanded free trade agreements are presented as a means of securing preferential market access for goods and services, with reduced or zero duty benefits linked to stronger export competitiveness. Indian industry, farmers, MSMEs, fishermen and artisans are urged to use these opportunities through a sustained focus on quality, higher standards and improved production and service capability. The statement also presents voluntary corporate social responsibility beyond statutory minima as an example of tangible social commitment.
March 25, 2026
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Multilateral trading system priorities shape India's agenda on WTO reform, food security, digital trade, and development concerns.
The WTO Ministerial Conference agenda covers WTO reform, the e-commerce work programme and moratorium, investment facilitation for development, fisheries subsidies, and agriculture-related issues. India's priorities include a development-centric multilateral trading system, a permanent solution on Public Stockholding for food security, effective Special and Differential Treatment, and a fully functional, automatic, and binding dispute settlement mechanism. India also supports policy space in digital trade, balanced fisheries subsidy disciplines, and investment facilitation for developing countries.
March 25, 2026
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Startup ecosystem partnership expands incorporation support, mentorship and financial tools for early-stage founders through a dedicated platform.
DPIIT entered into a strategic partnership with a leading fintech platform through a Memorandum of Understanding to strengthen India's startup ecosystem by supporting startups, innovators and entrepreneurs with financial tools, founder enablement programmes and ecosystem assistance. The collaboration is directed towards helping early- and growth-stage startups scale through digital payment solutions, financial infrastructure, incorporation support, mentorship and structured guidance for formalising and expanding operations. A dedicated platform, Startup Sahayak, has been launched to provide end-to-end assistance for early-stage founders, including company incorporation, access to schemes and guidance on funding opportunities.
March 25, 2026
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Cooperative sector survey training strengthens data quality and prepares nationwide collection on economic contribution and employment generation.
The Rapid Survey of Functional Cooperatives is being prepared through an all-India training workshop to equip master trainers with conceptual clarity, survey methodology, technical know-how, and uniform understanding of survey concepts. The survey will be conducted nationwide from April 2026 using the National Cooperative Database as the sampling frame and a web-based data collection system to generate sector-wise estimates of economic contribution and employment generation.
March 25, 2026
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Infrastructure project monitoring through PAIMANA tracks ongoing Central Sector projects, sector-wise progress, and new additions across Ministries.
Central Sector infrastructure projects worth Rs.150 crore and above are monitored through the PAIMANA portal, which standardises infrastructure tracking, auto-updates project data from Ministries and Departments, and supports timely review and data-driven decision-making. As of February 2026, the portal records 1,948 ongoing projects across 17 Central Ministries and Departments, with a revised cost of Rs.41.98 lakh crore and cumulative expenditure of Rs.19.71 lakh crore. The portfolio covers multiple sectors, led by Transport & Logistics and Energy, and includes new additions and commissioned projects during February 2026.
March 25, 2026
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Skill development project approval through Form 22 requires online filing, verified disclosures, and compliance with prescribed conditions.
Form 22 is the prescribed income-tax application for an eligible company seeking approval of a skill development project under Section 47(1)(b) of the Income-tax Act, 2025, read with Rule 39. The form is filed before commencement of the project through the e-filing portal and requires disclosure of the project structure, training institute particulars, proposed expenditure, supporting documents, and compliance details. It is verified by DSC or EVC, and defects must be rectified within the prescribed time or the application may be treated as invalid.
March 25, 2026
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Agricultural extension project notification under Form 21 requires approval, compliance, renewal, and revocation safeguards.
Form 21 is the notification instrument issued by the Central Board of Direct Taxes for an approved Agricultural Extension Project under Section 47(1)(a) of the Income-tax Act, 2025 read with Rule 37. It is issued after examination of Form 20, records the project particulars, approved tax years, expected expenditure, and notification conditions, and is authenticated by signature and Official Gazette publication. The notification remains valid for up to three Tax Years, is subject to compliance and renewal requirements, and may be revoked for cessation, non-genuine activities, or breach of approval conditions.
March 25, 2026
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Facilitative tax and customs reform measures in the Finance Bill 2026 aim to ease compliance, support MSMEs, and promote trade.
The Finance Bill 2026 is described as a set of facilitative tax and customs measures centred on trust-based tax administration, ease of living, MSME support, trade facilitation and customs reform. The measures highlighted include lower tax collected at source on certain foreign remittances and overseas tour packages, customs duty exemption on critical drugs, duty-free import treatment for medicines and personal use articles, permission to file updated income-tax returns after reassessment proceedings begin, and a foreign asset disclosure scheme for small taxpayers. The Bill also seeks to reduce compliance burden and dispute potential through customs rationalisation and facilitation-first enforcement.
March 25, 2026
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Pan-Asian dining expansion marks P.F. Chang's Tricity debut with a Mohali restaurant and signature wok-first menu.
P.F. Chang's expands its India footprint by opening its first restaurant in Mohali at HLP Gallerria, marking its Tricity debut and eighth outlet in the country. The launch is part of the brand's North India growth strategy and extends its presence beyond metro locations. The Mohali restaurant highlights the brand's wok-first cooking, scratch-made sauces, signature Pan-Asian dishes, and menu options tailored for Indian diners, including vegetarian and Jain selections, alongside MSG-free preparation and a premium casual dining experience.
March 25, 2026
Show AI Summary
Agricultural extension project notification under income-tax rules sets approval conditions, duration limits, and compliance requirements for tax benefits.
Form 21 is the prescribed income-tax notification form for an approved agricultural extension project under Section 47(1)(a) of the Income-tax Act, 2025, issued after approval under Rule 37 and published in the Official Gazette. It notifies the project, specifies the approved tax year(s), and sets out the terms, conditions, duration, expenditure limits, and beneficiary charges. The form records the applicant's particulars, project purpose, commencement date, approved period, estimated expenditure, and other conditions attached to approval.
March 25, 2026
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Agricultural Extension Project approval requires Form 20 filing, prior Ministry clearance, and electronic verification before commencement.
Form 20 is the prescribed income-tax application for approval of an Agricultural Extension Project under Section 47(1)(a) read with Rule 37. It must be filed electronically before commencement of the project and before seeking notification, with prior Ministry of Agriculture approval and compliance with Rule 37 conditions. The form requires applicant and project particulars, supporting documents, and verification through DSC or EVC. Defects must be rectified within one month, approval is notified in Form 21 and published in the Official Gazette, and it remains valid for up to three tax years.

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Design to Play Key Role in India’s Decisive Decade of Development: Union Minister of Commerce & Industry Shri Piyush Goyal

March 10, 2026

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Integrating India’s Cultural Diversity with Contemporary Design Can Create Unique Global Products: Shri Piyush Goyal

Shri Piyush Goyal Suggests Five-Point Roadmap to Promote Design Innovation, AI Labs and Industry Collaboration

Union Minister of Commerce & Industry Shri Piyush Goyal today said that India is entering a decisive decade of development and emphasised that design must be treated not merely as a cosmetic enhancement but as a strategic national capability that connects technology with people and translates ideas into impactful systems, products and experiences.

Addressing the Post Budget Webinar 2026 on the New National Institute of Design in New Delhi today, the Minister said that India’s demographic dividend, with an average age of about 28 and a half years, along with the technological strength provided by nearly 2.3 million STEM graduates every year, is emerging as a force multiplier for the Indian economy. He said these strengths will help take India’s growth story to the remotest parts of the country and expand India’s engagement with the rest of the world. He added that the vision of building a developed nation, Viksit Bharat by 2047, will be realised when design is integrated as a core national capability.

Shri Goyal highlighted that India’s greatest strength lies in its diversity. Every few kilometres, he noted, the country’s culture, food, textiles, languages and dialects change, and this rich heritage represents India’s greatest design capital. By integrating this diversity into contemporary design, he said, India can create products and experiences that are unique and difficult for the world to replicate.

Referring to the National Institute of Design, the Minister said that over the last decade it has transformed from a single premier institution into a national network and an Institution of National Importance. He said the institute has moved beyond aesthetic design to solving technical and social challenges and has strengthened its reputation as a leading design school.

Highlighting the provisions in this year’s Budget, Shri Goyal said that the Government has announced the establishment of a new National Institute of Design in the eastern part of India. He noted that while the design industry in the country is expanding rapidly, there is still a shortage of trained Indian designers who can meet the needs of the growing economy and contribute to the global design discourse. The new institute, he said, reflects the Government’s commitment to bridge this gap and democratise access to world-class design education.

The Minister observed that the eastern region of India is a powerhouse of culture, crafts, textiles and industry. However, due to the absence of a strong design ecosystem in the past, the region’s full potential could not be realised. He said the new NID will connect traditional craft clusters, MSMEs and emerging industries with cutting-edge design education. It will also support artisans in moving up the value chain and help MSMEs diversify their products.

Shri Goyal emphasised that the vision for design education goes beyond the establishment of a single campus. He said Indian culture and civilisational knowledge must be placed at the heart of design education rather than being treated as an optional component. He noted that design plays a critical role in the vision of Atmanirbhar Bharat and in building a strong Brand India recognised globally for quality, innovation, new products and new technologies.

Referring to the changing global technological landscape shaped by artificial intelligence, immersive media and robotics, the Minister said that technology without thoughtful design could deepen inequality and reduce usability. He stressed the need for a collective effort to prepare the Indian mindset to adopt new technologies and use them for the benefit of 1.4 billion citizens while creating a better future for the country’s youth.

Addressing young designers and students, Shri Goyal said that they are not merely preparing for careers but are contributing to nation building. He added that the choices designers make in products, services and digital interfaces will shape how India is experienced by its own people.

The Minister also proposed a five-point agenda to translate the vision for design into action.

First, he suggested positioning the National Institutes of Design as knowledge hubs for Indian design and using each of these campuses to promote the importance of innovative design among people in different regions across the country.

Second, he emphasised the need to deepen industry, particularly MSME, and academic linkages. He suggested the establishment of design clinics and the development of live cluster projects. He added that design must be made simple and accessible so that the common citizen, handicraft and handloom weavers, and traditional workers can engage with it and help define the India story.

Third, he proposed the creation of service and Brand India design labs to improve the citizen experience in governance, tourism and healthcare.

Fourth, he called for the establishment of joint artificial intelligence and frontier technology design labs in collaboration with technical institutes so that linkages between students and industry can be expanded.

Fifth, he emphasised that the new National Institute of Design in eastern India must be developed as a model campus that promotes public–private partnerships and also supports not-for-profit organisations working among artisans and the handicraft and handloom sectors.

Shri Goyal expressed confidence that discussions during the webinar would help produce a clear roadmap to make design a central pillar of India’s journey towards becoming a developed nation. He said the new National Institute of Design should emerge as a global symbol of innovation rooted in India’s rich traditions.

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