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The Employees’ Provident Fund Organisation (EPFO) reported a net addition of 14.58 lakh members in March 2025, reflecting a year-on-year increase of 1.15%. The Ministry of Labour & Employment noted that approximately 7.54 lakh new subscribers were enrolled during the month, marking a 2.03% rise from February 2025 and a 0.98% increase compared to March 2024. Notably, the 18-25 age group accounted for 58.94% of new subscribers, with 4.45 lakh individuals joining. The growth in EPFO membership is attributed to expanding employment opportunities, heightened awareness of employee benefits, and effective outreach initiatives. Additionally, around 13.23 lakh former members re-joined the EPFO, representing a 0.39% increase from the previous month and a 12.17% rise year-on-year, as many opted to transfer their funds rather than settle, thereby enhancing their long-term financial security. 
Published: May 21 2025, 6 pmeznews.inThe Supreme Court has dismissed a review petition from the government regarding the Safari Retreats case, upholding its previous ruling that allows input tax credit (ITC) under the Goods and Services Tax (GST) for buildings constructed for leasing purposes. The court's decision, made by Justices Abhay S Oka and Sanjay Karol, reinforces the notion that such buildings can be classified as "plant" under GST regulations, thus permitting ITC claims. This ruling challenges a recent amendment to the CGST Act aimed at overriding the court's earlier decision, which had sparked concerns about the legitimacy of the retrospective changes. Legal experts suggest that the court's endorsement of a "functionality test" for determining what constitutes "plant and machinery" could benefit commercial taxpayers in real estate and infrastructure sectors, allowing them to reclaim GST on construction costs linked to taxable leasing activities.
Published: May 21 2025, 10 pmeznews.inThe Central Consumer Protection Authority (CCPA) has issued a notice to Uber, demanding clarification on its controversial practice of encouraging users to pay an "advance tip" for quicker ride acceptance. This action follows Union Consumer Affairs Minister Pralhad Joshi's criticism of the feature, labeling it "unethical" and potentially in violation of fair trade norms. Joshi expressed concern on social media, stating that nudging users to pay a tip in advance is exploitative and undermines the essence of tipping as a gesture of appreciation. He emphasized the need for fairness, transparency, and accountability in customer interactions. The notice comes amid increasing complaints from users regarding ride cancellations and pressure tactics employed by mobility platforms. As of now, Uber has not publicly responded to the CCPA's notice, which highlights growing scrutiny over tipping practices in markets like India, where consumer trust and affordability are paramount.
Published: May 21 2025, 10 pmeznews.inL&T Metro Rail Hyderabad (L&TMRHL) has initiated a 'Save Your Metro' campaign in response to backlash over recent fare hikes, which have seen increases of 20 to 25 percent. The company, citing cumulative losses exceeding ₹6,600 crore and a 160 percent rise in operational costs over five years, is urging commuters to support the fare adjustments to ensure continued service and additional trains. As part of the campaign, flex banners have been displayed at metro stations, and a digital outreach has been launched. In an effort to mitigate commuter dissatisfaction, L&TMRHL announced a 10 percent discount on the revised fares, effective May 24. However, many commuters remain frustrated, arguing that the discount does not address the substantial fare increase and lacks a clear timeline for its continuation. The fare hike, which took effect on May 17, raised the minimum fare from ₹10 to ₹12 and the maximum from ₹60 to ₹75.
Published: May 21 2025, 8 pmeznews.inThe United States is negotiating an early trade deal with India during a 90-day tariff pause, aiming to secure tariff breaks and concessions in sectors such as automobiles, motorcycles, alcohol, and medical equipment. India hopes to gain exemption from a full 26% reciprocal tariff, which includes a 10% baseline tariff already imposed. While the Trump administration can remove these reciprocal tariffs without Congressional approval, additional concessions are currently off the table. New Delhi plans to demand market access for its labour-intensive sectors in future negotiations, which are part of a broader bilateral trade agreement due by September-October 2025. The US is also pushing for digital trade provisions, including data localisation rules, to be included in the interim pact. If successful, India could gain a competitive edge over countries like Vietnam and Bangladesh, which face higher reciprocal tariffs.
Published: May 21 2025, 8 pmeznews.inIndia's negotiating team is in Brussels this week to advance discussions on a free trade agreement (FTA) with the European Union, following the successful conclusion of the 11th round of negotiations in Delhi on May 16. With hopes of finalizing an early harvest trade deal by July, India aims to enhance market access for its labour-intensive sectors, including textiles and pharmaceuticals. The agreement will primarily address tariff reductions and market access, while more complex issues related to sustainability will be deferred to a later phase. The EU is seeking significant duty cuts on products like automobiles and medical devices, while India is concerned about the EU's Carbon Border Adjustment Mechanism, which could impose hefty taxes on carbon-intensive goods. The EU remains India's largest trading partner, with bilateral trade reaching $137.41 billion in FY 2023-24, underscoring the potential benefits of a swift agreement amid global trade uncertainties.
Published: May 21 2025, 8 pmeznews.inIn Bengaluru, a resident named Isha faced significant challenges while booking a ride, highlighting a troubling trend among mobility platforms like Uber and Rapido. After being prompted to add a tip for a better chance of securing a ride, she opted out, leading to 40 minutes of rejections before finally booking a cab. Users across various cities report that drivers often decline rides unless a tip is included upfront, with some explicitly demanding it. This shift coincides with platforms moving to a Software-as-a-Service model, which has also seen the removal of in-app payment options, pushing riders to pay drivers directly. Consumer Affairs Minister Prahlad Joshi criticized this practice as unethical, prompting the Central Consumer Protection Authority to seek explanations from Uber. Experts warn that both drivers and consumers are suffering under a regulatory vacuum, with no clear guidelines to protect their interests, leading many to prefer traditional street-hailing over app-based services.
Published: May 21 2025, 8 pmeznews.inIndia's domestic passenger traffic surged by 8.45% year-on-year in April 2025, driven by robust demand and increased capacity, according to the Directorate General of Civil Aviation (DGCA). Scheduled domestic airlines transported over 14.3 million passengers last month, up from 13.2 million in April 2024. This growth follows an 8% rise in March 2025, with total passengers carried from January to April 2025 reaching 57.5 million, marking a 9.87% annual increase. IndiGo maintained its dominance in the market, increasing its share to 64.1% despite a slight drop in passengers to 9.17 million. The Air India Group also gained market share, rising to 27.2% with 3.89 million passengers. Meanwhile, Akasa Air and Alliance Air held steady at 5% and 0.5%, respectively, while SpiceJet's share fell to 2.6%. The data reflects a dynamic and competitive landscape in India's aviation sector.
Published: May 21 2025, 8 pmeznews.inIndia's economy is projected to grow between 6.4% and 7.2% in the January-March quarter of Fiscal Year 2024-25, according to estimates from four major economic research agencies. This follows a growth rate of 6.2% in the previous quarter. The government is set to release official data for Q4 and the full fiscal year on May 30. Analysts attribute the anticipated growth to improved consumption, although it may fall short of earlier advance estimates. The State Bank of India’s 'Nowcasting Model' predicts a Q4 growth of 6.4-6.5%, while Morgan Stanley forecasts 6.7%. Nomura highlights strong agricultural performance, particularly from the Rabi crop, while Barclays, despite questioning data reliability, estimates a higher growth of 7.2%. The upcoming data release is expected to clarify these projections amid concerns over the accuracy of GDP estimates in India.
Published: May 21 2025, 7 pmeznews.inNegotiations for an early harvest trade agreement between India and the European Union (EU) are advancing, with both parties aiming to conclude talks by July. This interim pact is expected to facilitate a comprehensive Free Trade Agreement, addressing key issues such as intellectual property rights, government procurement, and tariff barriers. India is seeking greater market access for its exports, including ready-made garments and pharmaceuticals, while the EU is pushing for duty reductions in sectors like automobiles, medical devices, and poultry. The discussions follow a recent eleventh round of negotiations in New Delhi and are part of a broader effort to resume trade talks that had stalled since 2013. With bilateral trade in goods reaching USD 137.41 billion in 2023-24, the EU remains India's largest trading partner, accounting for 17% of its total exports.
Published: May 21 2025, 6 pm
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