Page 2 - Indian Government

Govt's new security testing plan targets pre-installed phone apps

Smartphone players often sell their devices with proprietary apps, but also sometimes pre-install others with which they have monetisation agreements

Government to fall short on tax collection target of Rs 30.43 trn in FY23

The government may not achieve a revised tax collection target of Rs 30.43 lakh crore for the current financial year, a top official said. Revised estimate was raised steeply by over 10 per cent from the budget estimate in the FY24 Budget presented last month, the official said. The revised estimates (RE) for the current fiscal pegged gross tax revenues at Rs 30.43 lakh crore, higher than the budget estimates of Rs 27.57 lakh crore. On the direct tax side, the official said, "The RE was quite steep. we are expecting a shortfall. The net collections could be between Rs 15-15.5 lakh crore." In the current fiscal (2022-23), the revenues from direct tax (which includes income and corporate taxes) are projected to grow by over 17 per cent at Rs 16.50 lakh crore compared to 2021-22 fiscal when the collection was Rs 14.20 lakh crore. In the current fiscal, the revenue from corporate tax is expected to come in at Rs 8.35 lakh crore. This is projected to rise by 10.4 per cent to over Rs 9.

Government amends anti-money laundering rules, brings PEP under PMLA

The government has amended rules under the anti-money law, making it mandatory for banks and financial institutions to record financial transactions of politically exposed persons (PEP). Also, financial institutions or reporting agencies will be required to collect information about the financial transactions of non-profit organisations or NGOs under the provisions of the Prevention of Money Laundering Act (PMLA). Under the modified PML Rules, the Finance Ministry defined PEPs as "individuals who have been entrusted with prominent public functions by a foreign country, including the heads of States or Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials". The financial institutions will also have to register details of their NGO clients on the Darpan portal of the Niti Aayog and maintain the record for five years after the business relationship between a client and a

Vedanta may buy 6% more stake in Hindustan Zinc for Rs 7,900 cr

Govt planning OFS to sell 15% stake by March-end, will lose special rights over company; sources says Vedanta is looking raise about $1 billion from three foreign banks to fund the acquisition

Cough syrup case: Govt recommends cancellation of Marion Biotech's licence

The company Marion Biotech had supplied the cough syrups that reportedly caused the deaths of Children in Uzbekistan

Govt not in 'crazy rush' to sell everything: FM Sitharaman on privatisation

The government is not in a "crazy rush" to sell everything and it will continue to have a presence in four strategic sectors, including telecom, Finance Minister Nirmala Sitharaman said on Saturday. In strategic sectors, a bare minimum presence of the existing public sector commercial enterprises at the holding company level will be retained under government control. The remaining enterprises in a strategic sector will be considered for privatisation or merger with another PSE or for closure. Speaking at the Raisina Dialogue, the minister said that the country will have government-owned professionally run companies in four broad strategic sectors. According to the PSE Policy, the four broad strategic sectors are - atomic energy, space and defence; transport and telecommunication; Power, Petroleum, Coal and other minerals; and Banking, Insurance and Financial Services. The policy, she added, "is not a crazy rushing out to sell everything..nor it is saying that the government will ru

Govt issues quality control norms for bicycles' retro reflective devices

The government has issued quality control norms for bicycles retro reflective devices with a view to contain imports of sub-standard products and promote domestic manufacturing in the country. The Bicycles-Retro Reflective Devices (Quality Control) Order, 2023 will come into force from July 1 this year, according to an order of the department for promotion of industry and internal trade (DPIIT). The notified items cannot be produced, sold/traded, imported and stocked unless they bear BIS (Bureau of Indian Standards) mark. This order, however, would not apply to goods or articles meant for exports. "Any person who contravenes the provisions of this order shall be punishable under the provisions of the Bureau of Indian Standards Act, 2016," it added. The department is also working on bringing quality control orders (QCOs) for a number of other products such as aluminium alloy items; bolts, nuts and fasteners; ceiling fan regulator; conduits and fittings for electrical installations;

India 3rd country for Nokia for engagement in 6G standardisation: Batra

Nokia Chief Strategy and Technology Officer Nishant Batra lauded the Indian government's approach towards 6G spectrum and said that India has become third largest country for Nokia for engagement in 6G standardisation. Nokia has started hiring top talents in its Bengaluru office with competence in 6G standardisation and India has become third largest country for Nokia for engagement in 6G standardisation, Batra told PTI at Mobile World Congress here. "We have already started seeing a moment in India to define the 6G spectrum. It is a very encouraging and progressive step by the government. In this case, I am actually proud to say that it is taking a progressive step beyond what the rest of the world is doing," Batra said. On November 1, 2021 the Department of Telecommunications (DoT) constituted a Technology Innovation Group on 6G (TIG-6G) with members from various Ministries/Departments, R&D institutions, Telecom Service Providers and industry to develop vision, mission and goals

Government invites applications for CCI Chairperson post till March 9

The government on Thursday invited applications for the post of Chairperson of the Competition Commission of India (CCI). Since October 25, the post has been lying vacant. According to a public notice issued by the corporate affairs ministry, the applicants should have professional experience of at least 15 years in international trade, economics, business, commerce, law finance, accountancy, management, industry, public affairs or competition matters, The person, if selected, can hold the office for a term of five years from the date of joining the post or till the age of 65 years, whichever is earlier. The monthly salary will be Rs 4.50 lakh. Applications for the post can be submitted till March 9. "The candidates who had applied earlier in response to the previous advertisement/vacancy circular dated 26th July, 2022 inviting applications for the post of Chairperson need not apply," the notice said. Sangeeta Verma, who is a CCI Member, has been the acting Chairperson since Octo

Govt asks all states, UTs to make 6 years minimum age for Class 1 admission

The Ministry of Education has directed all states and Union Territories to fix the minimum age for admission in Class 1 as six years, officials said on Wednesday. According to the new National Education Policy (NEP), the foundational stage consists of five years of learning opportunities for all children (between 3 to 8 years) that includes three years of preschool education and then Classes 1 and 2. "The policy thus promotes seamless learning and development of children from pre-school to class 2. This can only be done by ensuring accessibility to three years of quality preschool education for all children studying in Anganwadis or government, government-aided, private and NGO-run preschool centers," a senior MoE official said. "The Ministry has directed State Governments and UT administrations to align their age to admission with the policy and provide admission to class 1 at the age of six years and above," the official added.

Govt to offload additional 2mn tonnes of wheat in market to cut prices

The Centre on Tuesday announced it will offload an additional 20 lakh tonnes of wheat in the open market to bring down the prices of wheat and wheat flour. On January 25, the Centre had announced sale of 30 lakh tonnes of wheat in the open market from its buffer stock to check rise in prices of wheat and wheat flour (atta). According to an official statement, the government has decided that state-owned Food Corporation of India (FCI) will offload an additional quantity of 20 lakh tonnes of wheat in open market under the Open Market Sale Scheme (OMSS). The stocks will be for sale through e-auction to flour mills/private traders/bulk buyers/manufactures of wheat products. The proposal to sell stocks in the open market was taken by a group of ministers, sources said. "So far, 50 lakh tonnes (30+20 lakh tonnes) of wheat have been decided to be offloaded under the OMSS. The reduction in reserve price along with additional offloading of 20 lakh tonnes of wheat will collectively help in

Why is India concerned about lending programme of IMF, WB for poor nations?

Eleven nations have signed a note where they have argued against the Bank taking on the responsibility to lend more, thereby raising interest costs for the borrowers

Centre wants work on at least one semiconductor facility to start in 2023

So far, the Centre has received three applications for chip manufacturing in India

Adani-Hindenburg row: SC no to govt's sealed cover names for panel

Top court says says will set up a committee itself to ensure 'full transparency'

Govt cuts reserve price of FCI wheat to Rs 2,150 per quintal for bulk users

The government on Friday further reduced the reserve price of FCI wheat to Rs 2,150 per quintal for bulk consumers under the Open Market Sale Scheme (OMSS) in a bid to check prices. According to the food ministry, the reserve price of fair and average quality (FAQ) wheat has been reduced to Rs 2,150 while for Under Relaxed Specifications (URS) wheat to Rs 2,125 per quintal. These rates will be applicable till March 31, the ministry said. State-run Food Corporation of India (FCI) is offloading 25 lakh tonnes of wheat to bulk users under the OMSS. "Reduction in reserve price will help in reducing market price of wheat and wheat products for consumers," the ministry said. States are allowed to purchase wheat from FCI for their own scheme at above proposed reserve prices without participating in e-auction, it added. On February 10, the ministry had done away with freight charges and kept the reserve price of FCI wheat uniformly at Rs 2,350 per quintal to bulk users pan-India through

Court should check 'truthfulness' of Hindenburg report on Adani: Government

The Supreme Court is yet to issue an order on setting up a panel proposed to examine investor protection mechanisms in the wake of Hindenburg Research's Jan. 24 report

India, Japan to kickstart wargames aimed at developing interoperability

The armies of India and Japan will kickstart a two-week mega military wargame from Friday in the Japanese province of Shiga to share best practices and develop interoperability. Indian Army officials said the exercise, 'Dharma Guardian', is "crucial and significant" in terms of security challenges faced by both nations in the backdrop of the current global situation. The fourth edition of the exercise will take place from February 17 to March 2 at Camp Imazu in Shiga province, they said. "The scope of this exercise covers platoon-level joint training on operations in jungle and semi-urban, urban terrain," said an official. Troops of the Garhwal Rifles regiment of the Indian Army and an infantry regiment from the Middle Army of the Japan Ground Self Defence Force (JGSDF) are participating in the exercise. The Indian Army contingent arrived at the exercise location on February 12. "The joint exercise will enable the two armies to share best practices in tactics, techniques and ...

Centre sells 4 LMT of wheat during second e-auction organised by FCI

More than 1,060 bidders participated and 3.85 lakh metric tonnes of wheat was sold during the second e-auction organised by the Food Corporation of India (FCI) on Wednesday .

Govt may consider fuel, maize tax cuts to control climbing retail inflation

The Indian government could consider reducing taxes on some items such as maize and fuel in response to the central bank's recommendations to help rein in climbing retail inflation

Narrow escape for passengers as Godavari Express derails near Hyderabad

A major train disaster was averted when six coaches of Visakhapatnam - Secunderabad Godavari Express got derailed between Bibinagar and Ghatkesar near Hyderabad on Wednesday.