India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi, July 4 (SocialNews.XYZ) The Finance Ministry announced on Friday that the tax benefits available under the National Pension Scheme (NPS) will apply mutatis mutandis to the Unified Pension Scheme (UPS), as it is an option under the former. The measure aims to provide further impetus to the UPS. These provisions ensure parity with the existing NPS structure and provide substantial tax relief and incentives to employees opting for the UPS, according to the Finance Ministry statement. The term mutatis mutandis means with all the necessary changes being made. The legal term clarifies that although changes will be necessary in order to take account of different situations, the basic point remains the same. The inclusion of the UPS under the tax framework marks another step forward in the government's effort to strengthen retirement security for Central government employees through transparent, flexible and tax-efficient options, the Finance Ministry said. The Finance Ministry had notified the introduction of the UPS as an option under NPS for the recruits to the Central government service with effect from April 1, 2025, giving a one-time option to the Central government employees covered under the National Pension System (NPS) for inclusion under the UPS. To operationalise this framework, the Pension Fund Regulatory and Development Authority (PFRDA) notified the PFRDA (Operationalisation of the Unified Pension Scheme under NPS) Regulations, 2025 on March 19, 2025. These regulations enable the enrolment of three categories of Central government employees. The first category covers existing employees in service as on April 1, 2025, who are covered under the NPS, while the second category includes new recruits in the Central government services, who join service on or after April 1, 2025. The third category includes Central government employees who were covered under NPS and who have superannuated or voluntarily retired or have retired under Fundamental Rules 56(j) on or before March 31, 2025 and are eligible for UPS or the legally wedded spouse in case of a subscriber who has superannuated or retired and has passed away prior to exercising the option for UPS. The Finance Ministry had also announced on May 30 that the Central government NPS subscribers who retired on or before March 31, 2025, with a minimum 10 years of qualifying service, or their legally wedded spouse can now claim additional benefits under Unified Pension Scheme (UPS), over and above the NPS benefits already claimed.
New Delhi [India], December 2: The IVCA GreenReturns Summit 2024 commenced today in New Delhi, convening over 400 visionaries, investors, policymakers, and entrepreneurs to chart a transformative path for India's green economy. The Summit is dedicated to aligning India's climate goals with its trillion-dollar economic aspirations for a 'Viksit Bharat,' spotlighting high-impact investment opportunities, addressing funding gaps, and driving actionable solutions for net-zero and climate adaptation. Also Read | Mamata Banerjee Says West Bengal Yet To Get INR 14,000 Crore From Centre for Supply of ...Read More >
Mumbai, May 21: The 8th Pay Commission has been officially announced by the Indian government, with no doubt a significant activity for some 1 crore central government employees and pensioners for the consideration of the revisions of salaries and pensions. The primary role of this commission will be to identify the fitment factor, the multiplier used to increase basic pay, and review minimum wages and keep them relevant to the current economic situation. A prominent recommendation from the Staff Side indicates a desire to combine lower pay levels for a fairer wage structure and to facilitate ...Read More >
New Delhi [India], June 7 (ANI): The Central government has raised financial limits under the General Financial Rules (GFRs) for procurement of scientific equipment and consumables. The simplification of GFRs will reduce delays and enhance autonomy and flexibility for the research organisations. Under the new rules, the Finance Ministry said that Vice Chancelors, Dierectors and academic institutions under specified departments and ministries will be able to make non-Government e-Marketplace (GeM) procurement of scientific equipment and consumables. As per the notification of the Finance Min ...Read More >
NEW DELHI, July 2: In a significant move aimed at reducing pension-related legal disputes and ensuring swifter justice for India's growing population of retired Government employees, Union Minister Dr. Jitendra Singh today , while chairing the first-ever "National Workshop on Pension Litigation" organised by the Department of Pension & Pensioners' Welfare at Vigyan Bhawan here, said that in no case should the vital energies of our elder citizens be allowed to be consumed inconsequentially for avoidable reasons because they may be "retired from Government service but not retired from service to ...Read More >
New Delhi, July 17: Over 10 million central government employees and pensioners across India are eagerly awaiting the rollout of the 8th Pay Commission. A recent report by Ambit Capital brings both hope and realism -- projecting a salary hike of 30% to 34%, while also highlighting that implementation may not happen before FY27. For example, if an employee currently earns a basic salary of INR 50,000, it could rise to between INR 65,000 and INR 67,000 under the new structure, offering major financial relief. The delay, however, is procedural. The government has not yet constituted the 8th Pay ...Read More >
New Delhi [India], January 21 (ANI): The Centre is expected to continue its fiscal consolidation efforts in FY26, with a fiscal deficit target of 4.5 per cent of GDP, according to a report by Emkay Research. For FY25, the report noted that the fiscal deficit is estimated to track close to 4.7 per cent, while states are likely to record a fiscal deficit of 3.2 per cent of GDP. It said "we do not see the Centre deviating from its consolidation path in FY26, and is likely to target 4.5 per cent GFD/GDP. States, on the other hand, are likely to now hug the 3 per cent of GDP target (+/-0.2 per ce ...Read More >
New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26. Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The company aims to finance over Rs 20 crore worth of premiums by t ...Read More >
New Delhi [India], June 7 (ANI): The Central government has raised financial limits under the General Financial Rules (GFRs) for procurement of scientific equipment and consumables. The simplification of GFRs will reduce delays and enhance autonomy and flexibility for the research organisations. Also Read | PM Narendra Modi To Visit Odisha on June 20 To Attend BJP Govt's First Anniversary Function, Says State Minister Suresh Pujari. Under the new rules, the Finance Ministry said that Vice Chancelors, Dierectors and academic institutions under specified departments and ministries will be abl ...Read More >
NEW DELHI: In a significant move aimed at reducing pension-related legal disputes and ensuring swifter justice for India's growing population of retired government employees, Union Minister Dr. Jitendra Singh on Wednesday, while chairing the first-ever "National Workshop on Pension Litigation" organised by the Department of Pension & Pensioners' Welfare at Vigyan Bhawan here, said that in no case should the vital energies of our elder citizens be allowed to be consumed inconsequentially for avoidable reasons because they may be "retired from government service but not retired from service to t ...Read More >
New Delhi, Jul 4 (PTI) In a bid to promote Unified Pension Scheme, the government has made necessary changes to provide tax benefits to employees opting for UPS at par with those under National Pension System (NPS). The inclusion of UPS under the tax framework marks another step forward in the government's effort to strengthen retirement security for central government employees through transparent, flexible and tax-efficient options, the finance ministry said in a statement. "The government has decided that tax benefits as available under NPS would apply mutatis mutandis to UPS as it is an ...Read More >
Union Minister Piyush Goyal pledged to recommend a GST reduction on handicrafts and handlooms in Jammu and Kashmir. He addressed the FTII Traders Conclave 2025 in Srinagar. Goyal also announced a Centre of Excellence for Packaging and Design. Discussions included setting up a Centre of Excellence for storage technology. He assured support for startups and new talent. Union Commerce and Industry Minister Piyush Goyal on Sunday promised to recommend a reduction in the Goods and Services Tax impose ...Read More >
Delhi CM Rekha Gupta met Union Finance Minister Nirmala Sitharaman, securing ₹600 crore under SASCI scheme for capital investment, supporting infrastructure and employment. Delhi Chief Minister Rekha Gupta on Thursday met Union Finance Minister Nirmala Sitharaman, securing a ₹600 crore commitment under the Centre's Special Assistance to States/UTs for Capital Investment (SASCI) scheme. The funds are expected by the end of this month. The SASCI scheme was launched in 2020-21 in response to t ...Read More >
Ranchi, Jul 7 (PTI) Jharkhand Finance Minister Radha Krishna Kishore on Monday accused the Centre of withholding funds for several schemes, depriving people of the benefits of the initiatives. He claimed that the BJP was spreading lies that the Jharkhand government was not providing the benefits of the schemes to the people. Also Read | Mumbai: Video of MNS Leader's Drunk, Half-Naked Son Rahil Shaikh Abusing Influencer Rajshree More Goes Viral, Eknath Shinde's Shiv Sena Demands Action (Watch Videos). "The central government has withheld funds for several schemes and is not providing its sha ...Read More >
SHILLONG, July 11: Union Finance Minister Nirmala Sitharaman on Friday virtually laid the foundation for several key projects worth Rs 1,400 crore from the Lariti auditorium in Mawkasiang, New Shillong Township. The projects are aimed at accelerating infrastructure, economic growth and social welfare in Meghalaya. They include the redevelopment of Umiam Lake into a world-class sustainable tourism destination at an estimated cost of Rs 99.99 crore, alongside the development of MICE (Meetings, Incentives, Conferences, and Exhibitions) Infrastructure at Mawkhanu, also under Special Assistance t ...Read More >
Chennai, Jul 12 (PTI) Public sector Indian Overseas Bank must have a Vision for 2047 aligning with India's growth aspirations, M Nagaraju, Secretary, Department of Financial Services, Union Ministry of Finance, said. He urged the city-headquartered bank to continue serving the evolving needs of its customers with 'innovation and integrity.' Launching some of the key banking services at an event on Friday evening in the presence of the bank's Managing Director and CEO Ajay Kumar Srivastava, Nagaraju said the introduction of WhatsApp based banking services and Re-KYC (Know Your Customer) throug ...Read More >
Policy 3 min read Need to streamline policies to make India GCC hub: Official India aims to become a global hub for Global Capability Centres. Senior officials suggest streamlining national policies to emulate successful state models. Focus is on talent, infrastructure, and regulatory initiatives. The government plans a national framework to guide states in promoting GCCs in Tier II cities. Efforts are underway to boost employment and collaborate with global partners for workforce mobility. New ...Read More >
New Delhi: The Income Tax Bill 2025, set to be moved in the monsoon session of Parliament to simplify the direct tax law, will set the stage for another round of reforms which will be more substantive in nature in subsequent years, said two people informed about the discussions in the government The finance ministry is of the view that once the over-six-decade-old Income Tax Act, 1961 is simplified and made more readable, targeted reforms can be achieved in taxation of personal and corporate income. This will be done through the annual Finance Acts, said one of the persons quoted above. Majo ...Read More >
Katra: Prime Minister Narendra Modi visited Jammu and Kashmir on Friday to inaugurate multiple rail projects, including the world's highest Chenab Rail Bridge, the Anji Khad Bridge, and the Katra-Srinagar Vande Bharat Express, as part of the Udhampur-Srinagar-Baramulla Rail Link. These railway projects directly connect Jammu and Kashmir to the rest of the country. The Udhampur-Srinagar-Baramulla Rail Link is an all-weather railway corridor designed to provide seamless connectivity to the region through the rail network. During his visit, PM Modi reviewed the Chenab bridge, world's highest ra ...Read More >
Ahmedabad, June 27: Union Home Minister Amit Shah began his Gujarat visit on a spiritual note early Friday morning by participating in the Mangala Aarti at the historic Shri Jagannathji Temple in Jamalpur, Ahmedabad. The visit coincides with the auspicious occasion of the annual Shri Jagannath Rath Yatra, a major religious event that draws thousands of devotees every year. Arriving at the temple at 3:15 a.m., HM Shah joined in the sacred rituals and offered prayers to Mahaprabhu Jagannath. Sharing his experience on social media platform X, he posted, "On the sacred occasion of Rath Yatra, par ...Read More >
Odisha Chief Minister Mohan Charan Majhi announced on Thursday that the state is moving towards a paperless governance model. Speaking at a two-day national conference on 'Good Governance Practices' in the presence of Union Minister Jitendra Singh, Majhi highlighted transformative initiatives in state administration. The Chief Minister emphasized the implementation of the Odisha Secretariat Workflow Automation System (OSWAS), a digital platform that has streamlined internal government processes ...Read More >
Kargil , Jul 2: Pursuant to putting in place a comprehensive legal framework to ensure fair, inclusive, and transparent recruitment to public services, the Administration of the Union Territory of Ladakh has initiated a large-scale recruitment drive for 359 Gazetted posts through the Union Public Service Commission (UPSC). This marks the first-ever recruitment of Gazetted posts through UPSC since the formation of the Union Territory, officials said. This follows the establishment of a unique and dedicated legal framework specifically designed for Ladakh. The framework ensures maximum local re ...Read More >
Ranchi, July 7: Jharkhand Finance Minister Radhakrishna Kishore has issued a strong message to government officials, stating that delays and negligence in public service would no longer be tolerated. Speaking to the media after a Janata Darbar held at Congress Bhawan on Monday, the Minister emphasized the need for timely and transparent handling of public grievances. Kishore pointed out that several welfare schemes, including the old age pension, were being impacted due to the central government's lack of financial cooperation. "The central government has withheld funds for many key schemes. ...Read More >
Mumbai, June 6: Effective January 1, 2026, the Indian government-approved 8th Pay Commission is scheduled to update the salaries and pensions of more than 1 crore central employees and pensioners. The fitment factor may increase from 2.57 to 2.86, which could raise the minimum basic wage from INR 18,000 to INR 51,480 and the pensions from INR 9,000 to INR 25,740. The pay scale for government workers is expected to undergo major changes as a result of the 8th Pay Commission. It is anticipated to go into effect on January 1, 2026, and will benefit more than one crore central government employee ...Read More >
The Punjab Cabinet approved amendments to the state's conversion policy, facilitating industrial plot conversions into various uses. This move addresses industrialists' concerns, aims to streamline estate management, and enhance business ease. Additional policies target micro and small enterprise operations and restructure state financial directorates for efficiency. The Punjab Cabinet has given the green light to amendments in the conversion policy, offering opportunities for industrial plots t ...Read More >
Lucknow, June 27 (UNI): Aiming to take financial inclusion to the grassroots, the Uttar Pradesh government is set to launch a special saturation campaign across all gram panchayats in the state. Scheduled to run from July 1 to September 30, the initiative aims to ensure last-mile delivery of key financial services to eligible citizens. Launched under the directives of the Centre's Department of Financial Services, Ministry of Finance, , the campaign will focus on extending the benefits of flagship Central schemes such as the Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti ...Read More >
Gurgaon: MCG additional commissioner Yash Jaluka directed bulk waste generators (BWG) across the city to ensure proper disposal of waste by private agencies who are assisting them. Giving these instructions in a meeting held on Friday, he said it is often observed that BWGs hand over their waste to private agencies, which only sort valuable items and dump the remaining waste on roads, drains, vacant land or public places. This, he said, not only affects cleanliness of the city but also poses a threat to public health."Under the Solid Waste Management Rules-2016, it is the legal and moral respo ...Read More >
New Delhi, July 06: Central government employees are expected to receive a 4% hike in Dearness Allowance (DA) from July 2025, taking it from 55% to 59% of basic pay, according to projections based on the All India Consumer Price Index for Industrial Workers (AICPI-IW). The latest data shows the index rose to 144 in May 2025, up from 143 in March and 143.5 in April. If June's index hits 144.5, the 12-month average will reach around 144.17. Applying the 7th Pay Commission's formula -- DA (%) = [(Average CPI-IW - 261.42)/261.42] × 100 -- the resulting figure of 58.85% will likely be rounded to 59 ...Read More >
Lucknow, Jul 17 (PTI) To curb illegal mining and transportation, the Uttar Pradesh government is deploying advanced technologies under the Integrated Mining Surveillance System (IMSS), a release said on Thursday. Mining activities are already being monitored through drones, geo-fencing, RFID tags, and AI-powered check gates. Now, the state is set to introduce 'Weigh-In-Motion' (WIM) technology to accurately track vehicle overloading. Also Read | 'Arvind Kejriwal Used Government Funds to Buy Mobiles Costing Up to INR 1.63 Lakh', Claims Delhi Minister Ashish Sood. According to the official re ...Read More >
New Delhi, Jul 5 (PTI) The Delhi High Court has dismissed over 200 petitions of the Ministry of Defence challenging the Armed Force Tribunal's order holding a number of defence personnel entitled for disability pension for their respective disabilities. Disability pension cannot be denied to defence personnel solely on the ground that the onset of the disability occurred while they were posted at a peace station or by contending that it is a lifestyle disease, it said, while noting that military service is inherently stressful due to a combination of factors. A bench of Justices Navin Chawla ...Read More >
New Delhi: Choosing Between different government pension scheme can be confusing while UPS can Provide steady inflation proof income, NPS can provide much better return on your pension depending on how bonds and market performs. Government employees often wonder whether to choose the National Pension System (NPS) or the Universal Pension Scheme (UPS) for their retirement. NPS is a system where both the employee and the government contribute regularly to a retirement fund, which is then invested in the stock market and bonds. This means that the returns from NPS depend on how the market perfor ...Read More >