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In a significant ruling for the renewable energy sector, the Andhra Pradesh High Court has determined that the supply of solar power generating systems (SPGS) does not constitute a works contract under GST regulations, but rather a composite supply subject to a reduced GST rate of 5% instead of 18%. The court clarified that the solar power plant does not qualify as immoveable property, as it is not permanently attached to a structure embedded in the earth for beneficial enjoyment. The ruling arose from a case involving Sterling and Wilson Private Limited, which contested a GST demand from tax authorities. The court's decision allows taxpayers to benefit from a lower tax rate and potentially claim input tax credits, prompting a reassessment of tax positions for those involved in solar power projects. This ruling is seen as a positive development for the renewable energy industry in India. 
Published: Jan 15 2025, 9 ameznews.inTarun Das, former Director General of the Confederation of Indian Industry (CII), has been awarded the Honorary Citizen Award by Singapore for his significant contributions to Singapore-India relations over the past three decades. The accolade, presented by Singapore’s President Tharman Shanmugaratnam during a ceremony in New Delhi, is the highest recognition given to non-Singaporeans for their outstanding contributions to the nation’s development across various sectors. Das expressed his deep honor at receiving the award, reflecting on his journey with Singapore that began 31 years ago and highlighting the evolution of the "Singapore-India Fever." His advocacy for Singapore in India includes leading a delegation of Indian industrialists in 1993 and spearheading initiatives like the annual CII Core Group visits and the India-Singapore Strategic Dialogue, which have strengthened economic and cultural ties between the two nations, according to Singapore’s Foreign Ministry.
Published: Jan 15 2025, 3 pmeznews.inThe Coal Ministry of India has implemented contingency plans to ensure the uninterrupted transportation of coal to thermal power plants (TPPs) in northern India during the ongoing Maha Kumbh Mela in Prayagraj, which is expected to attract over 400 million attendees until February 26. The ministry anticipates potential disruptions in coal delivery to some up-country power plants due to the massive influx of visitors. To mitigate these impacts, the Inter-Ministerial Coordination (IMC) has been actively monitoring the situation and has developed a detailed contingency strategy. In December 2024, coal dispatch to the power sector increased by over 5% year-on-year, reaching 76.04 million tonnes, while overall dispatch for April-December 2024 rose by 4.32% to 618.33 million tonnes. As of January 13, 2024, coal stocks at domestic plants stood at 45.33 million tonnes, sufficient to meet daily consumption needs.
Published: Jan 15 2025, 3 pmeznews.inSistema.bio, a social enterprise focused on empowering family farmers through biodigester technology, has secured a $3.5 million investment from Novastar Ventures as part of a $7.75 million financing round. This partnership aims to enhance Sistema.bio's expansion into new African markets and diversify its agricultural and energy product offerings. Joyce Cacho, Board Chairman, emphasized the investment's role in promoting sustainable solutions that foster economic growth and climate resilience. Novastar's Co-founder, Steve Beck, highlighted the transformative potential of Sistema.bio's technology in converting farm waste into renewable energy and fertilizer, benefiting farmers economically while reducing greenhouse gas emissions. With a total of $18.5 million raised in 2024, Sistema.bio is poised for further growth, aiming to achieve a 1% reduction in global greenhouse gas emissions by 2030 and preparing for a Series C funding round to bolster its leadership in biogas technology.
Published: Jan 15 2025, 3 pmeznews.inMeteorological agencies are divided over the emergence of the La Niña weather phenomenon, with the US Climate Prediction Centre (CPC) asserting that it began in December 2024, citing below-average sea surface temperatures in the equatorial Pacific. In contrast, Australia's Bureau of Meteorology (BoM) maintains that the El Niño Southern Oscillation (ENSO) remains neutral, despite some indicators suggesting La Niña conditions. The APEC Climate Center (APCC) has issued a "La Niña Watch," predicting a Nino3.4 index of -0.8°C for February 2025, but expects ENSO-neutral conditions to prevail overall. While CPC forecasts weak La Niña conditions persisting through early spring 2025, BoM notes that trade winds have strengthened, potentially leading to a La Niña event by summer 2025. The APCC anticipates above-normal temperatures globally, except in the central and eastern tropical Pacific, and predicts increased rainfall for India, aligning with the India Meteorological Department's outlook.
Published: Jan 15 2025, 3 pmeznews.inWheat sowing in India has seen a modest increase of 1.4% to 320 lakh hectares (lh) as of January 10, 2025, compared to 318.33 lh for the entire previous season. Despite a weekly coverage of only 26,000 hectares from January 4-10, the potential for further expansion appears limited. The agriculture ministry has set a production target of 115 million tonnes for the current rabi season, slightly above last year's record of 113.29 million tonnes. Meanwhile, pulses acreage remains stable at 139.81 lh, with chana (gram) sowing up 1% to 96.65 lh, while masur (lentil) has decreased by 1.9% to 17.43 lh. Oilseed area has declined by 4.9% to 96.82 lh, attributed to farmers shifting to wheat due to weather concerns. Overall, total rabi crop area has increased to 632.27 lh, with winter paddy acreage also rising by 2.6%.
Published: Jan 15 2025, 1 pmeznews.inA delegation from the Kanara Chamber of Commerce and Industry (KCCI) has urged Rajya Sabha member D. Veerendra Heggade to address the deteriorating condition of a 10-km stretch of National Highway 75 between Maranahalli and Addahole, which has become a major bottleneck for commuters and goods transport between Mangaluru and Bengaluru. Despite previous interventions that secured temporary repairs, the road has again become non-motorable due to heavy monsoon rains, prompting KCCI President Anand G. Pai to call for urgent restoration efforts. The delegation emphasized the critical need for emergency funding and swift action from the National Highway Authority to fill potholes and repair the road. They also highlighted the importance of expediting the four-lane project from BC Road to Sakleshpur to enhance connectivity. The delegation included key KCCI members, all advocating for immediate government intervention to resolve the pressing infrastructure issue.
Published: Jan 15 2025, 1 pmeznews.inThe All India Rubber Industries Association (AIRIA) has called on the Indian government to reduce the import duty on natural rubber, currently set at 25% or Rs30 per kg, to alleviate the severe challenges facing the domestic rubber industry. In a pre-budget submission, AIRIA President Shashi Kumar Singh highlighted that escalating raw material prices are pushing the industry towards closure. He proposed lowering the duty to 10% and establishing a uniform GST rate for rubber products. Singh also criticized the high antidumping duty on Butyl Rubber, which could inflate costs for essential products by 25-30%. Additionally, he pointed out that the zero-duty import policy for footwear from countries like Bangladesh and Nepal undermines local manufacturers. The association urged the government to lift port restrictions on rubber imports to enhance production efficiency and reduce logistics costs.
Published: Jan 15 2025, 1 pmeznews.inDense fog at Indira Gandhi International Airport (IGIA) in Delhi caused significant disruptions on Wednesday, leading to over 250 flight delays, diversions, and a few cancellations. Visibility dropped below the required standards for safe operations between 5:00 AM and 9:00 AM, prompting the airport to implement low visibility procedures. The airport typically handles around 1,200 flights daily, averaging 95 movements per hour. Passengers were advised to check with their airlines for updates, as many experienced chaotic travel situations. One traveler, Archit Dixit, reported having to book a more expensive last-minute flight after his to Varanasi was cancelled. While an airline official noted that no cancellations were officially reported, they acknowledged delays due to airport congestion. The situation remains fluid, with further updates expected as conditions evolve.
Published: Jan 15 2025, 12 pmeznews.inIndia's Commerce and Industry Minister Piyush Goyal announced on January 14, 2025, that the government is finalising free trade agreements (FTAs) with a focus on extensive stakeholder consultations, ensuring they are fair and balanced. Highlighting a landmark commitment of USD 100 billion in foreign direct investment from the EFTA agreement, Goyal noted that the Modi administration has successfully implemented FTAs with countries like Australia and the UAE. He defended India's decision to opt out of the RCEP, citing concerns for micro, small, and medium enterprises (MSMEs) and the potential influx of Chinese goods. Goyal reported that India's goods and services exports reached USD 778 billion in 2023-24, with expectations to surpass USD 800 billion this year. He also outlined ten foundational principles guiding governance under Modi's leadership, while acknowledging challenges to inclusive growth and the need for resilience against opposition.
Published: Jan 14 2025, 10 pm
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