eznews.inThe recent arrest of members from the Income Tax Appellate Tribunal (ITAT) in Jaipur, alongside two others, in a cash-for-orders scandal has raised serious concerns about corruption within the tribunal, which adjudicates numerous high-stakes tax disputes annually. This incident echoes a troubling history of corruption in the ITAT, including a 2006 case where a Kolkata member was arrested for accepting bribes, and a 2012 nationwide investigation into collusion among tribunal members. The latest arrests suggest that entrenched networks continue to influence quasi-judicial decisions, with allegations of "bench-fixing" practices. Critics argue that the ITAT's administrative oversight is inadequate, allowing certain members to dominate key cases. Additionally, efforts to implement a "faceless" system to enhance transparency have stalled, despite successful reforms in other tax-related areas. The Supreme Court's recent ruling has further diminished oversight, raising questions about the tribunal's integrity and operational independence. 
Published: Nov 30 2025, 6 pmeznews.inIndian airlines have successfully completed a crucial software upgrade for their Airbus A320 family fleet ahead of the November 30 deadline, ensuring the restoration of normal flight operations. The Ministry of Civil Aviation (MoCA) confirmed full compliance, with Union Civil Aviation Secretary Samir Sinha noting that Indian carriers were among the fastest globally to finish the upgrade without disrupting flight schedules. Despite some initial delays, operations returned to normal by early Sunday. IndiGo upgraded all 200 of its aircraft, while Air India completed work on 100 of its 113 planes, and Air India Express upgraded 23 of its 25 aircraft. The upgrades were mandated following an emergency airworthiness directive from the European Union Aviation Safety Agency (EASA) and were closely monitored by the Directorate General of Civil Aviation (DGCA), which conducted spot checks to verify compliance across the fleet.
Published: Nov 30 2025, 6 pmeznews.inCyclone Ditwah, currently situated over the southwest Bay of Bengal, is expected to bring significant rainfall to several districts in Andhra Pradesh, according to the India Meteorological Department (IMD). The cyclone, which has moved northward and is positioned near the Tamil Nadu-Puducherry coasts, is anticipated to enhance rainfall activity, particularly in North Coastal Andhra Pradesh (NCAP) and Yanam, where light to moderate rain, thunderstorms, and squally winds of up to 55 km/h are forecasted. South Coastal Andhra Pradesh (SCAP) may experience heavy to very heavy rainfall, with isolated areas facing extremely heavy downpours. In preparation, Andhra Pradesh Home Minister V Anita has urged officials to remain vigilant, ensuring timely warnings and readiness for potential evacuations. District Collectors reported that precautionary measures and rehabilitation centres are in place to address any emergencies arising from the cyclone's impact.
Published: Nov 30 2025, 6 pmeznews.inRussian President Vladimir Putin is set to visit India on December 4-5, focusing on addressing India's significant trade deficit with Russia, which reached approximately $59 billion in FY25. During his two-day visit, Putin will lead a high-level delegation to explore new export opportunities for Indian businesses, particularly in sectors such as pharmaceuticals, healthcare, and food supplies. The discussions will also include the proposed India-EAEU free trade agreement, which involves Russia and several other countries. Amidst US tariffs impacting trade, including a 50% penalty on Russian oil purchases, both nations aim to enhance their economic ties, with India seeking to boost its exports to Russia. Additionally, Putin is expected to discuss the sale of S-400 air defense systems and explore trading in local currencies to circumvent Western sanctions. The visit underscores the importance of strengthening bilateral relations amid geopolitical tensions.
Published: Nov 30 2025, 6 pmeznews.inFertilizer sales in India saw a 6% increase in the first three weeks of November, with Urea leading the rise at 12%, followed by di-ammonium phosphate (DAP) at 7%. However, sales of Muriate of Potash (MOP) remained stagnant, and complex fertilizers experienced a 5% decline. Despite a doubling of sales in the first week, subsequent weeks saw a 12% drop, attributed to farmers' complaints about availability. From November 1-21, total sales reached 47.17 lakh tonnes, up from 44.52 lakh tonnes last year. The fertilizer ministry assured that supplies of Urea, MOP, and DAP are adequate, with DAP availability at 28.62 lakh tonnes, surpassing the monthly requirement. Meanwhile, wheat sowing for the Rabi season is on the rise, with prices stable at ₹2541 per quintal, reflecting a 10% decrease from last year. Farmers continue to rely on DAP for wheat cultivation, despite recommendations for alternative fertilizers.
Published: Nov 30 2025, 4 pmeznews.inA recent study by CUTS International has called for the rationalisation of import duties on aluminium, arguing that reducing barriers could significantly benefit India's manufacturing sector. Despite projections indicating a rise in domestic aluminium demand from 5.3 million tonnes to 8.3 million tonnes by 2030, escalating input costs threaten the country's manufacturing ambitions. The current duty structure is seen as a hindrance to micro, small, and medium enterprises (MSMEs), which are vital to India's manufacturing ecosystem and the vision of Viksit Bharat 2047. The study highlights that high domestic aluminium prices disadvantage Indian manufacturers, particularly in fast-growing sectors like construction, renewable energy, and electric vehicles. By lowering input costs, the study suggests that India's 3,500 aluminium MSMEs could enhance their competitiveness, create jobs, and capture higher-value export markets, thereby driving economic growth across various industrial regions.
Published: Nov 30 2025, 4 pmeznews.inA surprising headline growth figure of 8.2% for the second quarter of FY26, reported by the Statistics Ministry, has sparked debate among economists regarding the Reserve Bank of India's (RBI) upcoming interest rate policy. This growth, significantly above the RBI's 7% projection and various agencies' expectations, coincides with a record low retail inflation rate of 0.25% in October. The Monetary Policy Committee (MPC) is set to meet from December 3-5, having previously paused rate cuts after three consecutive reductions. While some economists advocate for a rate cut, citing low inflation and moderating growth, others caution that the high growth may not warrant such action. Barclays anticipates a dovish tone from the MPC, while analysts from CareEdge and Kotak Mahindra Bank predict a potential 25 basis point cut. The MPC faces a complex decision, balancing strong growth against the backdrop of low inflation as it prepares for its December review.
Published: Nov 30 2025, 4 pmeznews.inIndian refiners are adapting their export strategies in response to new European Union sanctions targeting refined products derived from Russian crude oil, which will take effect on January 21, 2026. As a result, diesel exports to Sudan have resumed after a year-long hiatus, marking a significant shift in trade routes. The EU's sanctions package, described as one of the most comprehensive efforts to curb Russia's hydrocarbon revenues, directly impacts countries like India and Turkey, which have supplied a substantial portion of Europe’s diesel demand. Notably, Nayara Energy has redirected its clean petroleum product exports towards Latin America, the Bahamas, and Turkey, moving away from traditional markets. Data from Kpler indicates that Indian diesel exports to Africa have increased, averaging 211,079 barrels per day from January to September 2025, compared to 170,780 barrels per day during the same period last year.
Published: Nov 30 2025, 4 pmeznews.inThe Airports Economic Regulatory Authority of India (AERA) is embroiled in a significant legal dispute regarding the calculation of the Hypothetical Regulatory Asset Base (HRAB) for Delhi and Mumbai airports, which could lead to drastic increases in user development fees (UDF) for domestic passengers. Industry assessments suggest that UDF at Delhi airport may surge from ₹129 to ₹1,261—an increase of nearly 900%—while at Mumbai airport, it could rise from ₹175 to ₹3,856, exceeding 2,100%. The Ministry of Civil Aviation (MoCA) has backed AERA's position as the case progresses to the Supreme Court, following a Telecom Disputes Settlement and Appellate Tribunal (TDSAT) ruling that invalidated AERA's HRAB calculation method. This ruling could impose a financial burden exceeding ₹50,000 crore on airport charges. The Supreme Court is set to hear the case on December 3, 2025, amid concerns over potential tariff shocks for air travelers.
Published: Nov 30 2025, 3 pmeznews.inIndia requires approximately $1 trillion in green investments over the next 10-15 years, accumulating to nearly $10 trillion by 2070, to meet its net zero emissions target, according to the Confederation of Indian Industries (CII). In a pre-budget submission, CII Director General Chandrajit Banerjee emphasized the need for a comprehensive approach to decarbonisation, advocating for the establishment of a dedicated Green Finance Institution (GFI) to mobilize low-cost capital for renewable energy, clean mobility, and industrial decarbonisation. The GFI could be based in GIFT City to attract foreign investment and provide concessional loans and credit guarantees. Additionally, CII proposed a 'Green Tech Expo Fund' to promote Indian green technology on the global stage. The chamber also called for stricter recycling targets for lithium batteries and electronics, alongside fiscal incentives to enhance domestic refining capacity, highlighting the importance of a holistic green transition for economic resilience and investment opportunities.
Published: Nov 30 2025, 12 pm
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