Economy National

India Signs $350M Loan Pact with ADB to Boost Manufacturing

By BPN News Desk December 22, 2024

India has entered into a $350 million loan agreement with the Asian Development Bank (ADB) to bolster its manufacturing sector. This strategic partnership aims to enhance competitiveness, foster innovation, and create job opportunities in key industries, marking a significant step toward strengthening the country’s industrial base. The agreement, signed on December 21,

National

Boost for Farmers: Government Increases MSP for Milling Copra

By BPN News Desk December 22, 2024

In a significant move aimed at supporting farmers, the Union Government has approved a Minimum Support Price (MSP) of ₹11,582 per quintal for milling copra for the 2024 season. The decision is expected to provide much-needed relief to coconut farmers and strengthen their financial standing. The approval, announced on December 21, reflects the government’s commitment

Economy National

GST Council’s Jaisalmer Meeting: Key Outcomes

By BPN News Desk December 21, 2024

The 53rd GST Council meeting held in Jaisalmer on December 21 saw deliberations on significant tax reforms aimed at improving compliance and addressing industry concerns. Chaired by Finance Minister Nirmala Sitharaman, the council discussed crucial policy matters that impact businesses and consumers alike. Tax Rate Adjustments and Clarifications One of the primary focuses

National

Standing Committee Urges Improvements in Freight Train Speeds

By BPN News Desk December 21, 2024

A recent report by the Parliamentary Standing Committee on Railways has raised concerns about the sluggish pace of freight trains in India, with an average speed of just 25 km/hr. The committee emphasized that improving freight train speeds is critical to enhancing railway logistics and ensuring the sector’s contribution to economic growth. Current Challenges in […]

Economy National

GST Council Increases Tax on Used Cars, Clarifies Popcorn Rates

By BPN News Desk December 21, 2024

The Goods and Services Tax (GST) Council has announced significant revisions to tax rates, including an increase in the GST on the sale of used cars. The council also addressed a unique issue regarding the GST on popcorn, with rates now determined based on flavor. These decisions are part of a broader effort to streamline […]

Law & Order

Supreme Court: Directors Not Personally Liable for Dishonored Company Cheques

By BPN News Desk December 21, 2024

In a significant ruling, the Supreme Court of India has clarified that directors of a company cannot be held personally liable under the Negotiable Instruments Act if a cheque issued by the company is dishonored. This decision offers a crucial interpretation of corporate and legal accountability, shielding directors from personal prosecution in such cases. Ruling […]

National

Prime Minister Modi Discusses Strengthening India-Kuwait Relations

By BPN News Desk December 21, 2024

Prime Minister Narendra Modi emphasized the importance of strengthening bilateral ties between India and Kuwait during a key meeting, highlighting shared economic and cultural priorities. The discussions aimed to further consolidate relations with the Gulf nation, which is a crucial partner for India in trade, energy, and the welfare of the Indian diaspora. Focus on […]

National

Jodhpur ITAT Ruling Highlights Bitcoin Taxation Guidelines

By BPN News Desk December 21, 2024

In a landmark ruling, the Jodhpur Income Tax Appellate Tribunal (ITAT) clarified tax liability on cryptocurrency gains, holding an Infosys employee accountable for ₹33 lakh in income tax on a ₹6.64 crore gain from Bitcoin transactions. The decision sheds light on the evolving taxation landscape for digital assets in India. Tax Liability Computation The case […]

Defence National

Government Implements Third OROP Revision, Clears ₹6,600 Crore Arrears

By BPN News Desk December 21, 2024

The Central Government has implemented the third revision of the One Rank, One Pension (OROP) scheme, bringing financial relief to over 25 lakh defense veterans and family pensioners. This development underscores the government’s commitment to supporting retired armed forces personnel and their families. Key Highlights of the OROP Revision Beneficiaries: Approximately 25

Defence National

Indian Army Secures Advanced Artillery in ₹7,629 Crore Deal

By BPN News Desk December 21, 2024

In a significant boost to its long-range offensive capabilities, the Ministry of Defence (MoD) has signed a ₹7,629 crore contract for advanced self-propelled artillery guns. The deal underscores India’s ongoing efforts to modernize its armed forces and strengthen its defense infrastructure amidst evolving security challenges. Contract Details and Capabilities The contract,