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In the fiscal year 2024-25, the Indian government disbursed ₹10,114 crore under its production-linked incentive (PLI) schemes, with the electronics and pharmaceuticals sectors receiving the lion's share, accounting for approximately 70% of the total. The electronics sector garnered ₹5,732 crore, while pharmaceutical drugs received ₹2,328 crore. Introduced in 2021 with a total outlay of ₹1.97 lakh crore, the PLI scheme aims to bolster domestic manufacturing across 14 sectors. Notably, the electronics sector has emerged as a key player in India's export landscape, achieving a remarkable 32.46% growth in shipments, which rose from $29.12 billion in 2023-24 to $38.58 billion in 2024-25. Meanwhile, pharmaceutical exports also saw a 10% increase, reaching $30.5 billion, with Indian drugs now reaching over 200 countries. Other sectors benefiting from the PLI include telecom, food processing, and automobiles, among others. 
Published: Jul 13 2025, 12 pmeznews.inUnion Agriculture Minister Shivraj Singh Chouhan's recent directive to Chief Ministers to combat substandard fertilizers appears to divert attention from a critical fertilizer shortage affecting India. While the Minister's letter highlights issues of "fake fertilizers" and "black marketing," it neglects the urgent calls from states like Punjab, Telangana, and Rajasthan for increased supplies. The timing is significant, as fertilizer sales surged by 12.5% in the April-June quarter, driven by a favorable monsoon, contradicting the government's push for reduced chemical fertilizer use. The core issue lies in supply-side management, with states struggling not just against malpractices but also facing genuine shortages. Telangana's Chief Minister and Rajasthan's Agriculture Minister have both sought assurances of adequate urea supplies, while Uttar Pradesh has imposed purchase caps for farmers. The Centre's focus on illegal activities obscures the pressing demand-supply gap, underscored by Fertilizers Minister J.P. Nadda's recent trip to Saudi Arabia to secure urea and DAP supplies.
Published: Jul 13 2025, 7 pmeznews.inRefunds in direct taxes and GST have seen a significant increase in the first quarter of the last three fiscal years, impacting net collections amid a decline in gross tax revenues. Data from the Income Tax Department indicates that gross tax collection from April 1 to July 10 reached over ₹6.65 lakh crore, a modest growth of just over 3%. However, refunds surged to approximately ₹1.02 lakh crore, marking a 38% increase. Experts attribute this rise to lower corporate profits and personal tax regime switches, with Vivek Jalan noting that corporate refunds stem from reduced profits linked to disappointing top-line performance. In the GST sector, gross collections rose to over ₹6.22 lakh crore, an 11.8% increase, while refunds climbed nearly 20% to around ₹80,000 crore. Saurabh Agarwal highlighted a shift in the refund-to-collection ratio, suggesting government reforms are enhancing tax compliance and fostering business confidence.
Published: Jul 13 2025, 7 pmeznews.inIndia's tax administration has seen a remarkable transformation over the past decade, with taxpayer refunds soaring by 474% from ₹83,008 crores in 2013-14 to ₹4,76,743 crores by 2024-25, significantly outpacing the 274% increase in gross direct tax collections. The average time to process refunds has dramatically decreased from 93 days to just 17 days, reflecting the success of digital modernization efforts, including end-to-end online filing and automated processing. The number of income tax returns filed has also surged, rising from 3.8 crores to 8.89 crores, indicating a growing formalization of the economy. Officials attribute this growth to increased voluntary compliance and enhanced tax payment mechanisms. The rise in refunds and their expedited processing not only improves cash flow for taxpayers but also signals a more engaged participation in India's formal economy, marking a significant milestone in the country's tax ecosystem.
Published: Jul 13 2025, 5 pmeznews.inThe sales volume of used cars in India is projected to exceed 6 million units this fiscal year, driven by increasing consumer demand, digital adoption, and improved financing options, according to a report by Crisil Ratings. The used-to-new car sales ratio has risen to 1.4 from below 1 five years ago, with used vehicle sales growing at 8% last fiscal and expected to reach 10% this year. The market value of used cars is estimated at ₹4 lakh crore, nearly matching new car sales. Despite high operational costs and ongoing cash losses for organized players, revenue growth is anticipated to lead to breakeven at the operating profit level within 12-18 months. The report highlights that India's used-to-new ratio still lags behind mature markets, indicating significant growth potential. Enhanced access to vehicle finance and a diverse range of models for first-time buyers are expected to further support this market's resilience.
Published: Jul 13 2025, 4 pmeznews.inVRL Logistics, based in Hubballi, Karnataka, is actively addressing the severe driver shortage plaguing the transport industry by promoting driving as a viable profession. The company is visiting villages to dispel negative perceptions associated with driving, a challenge highlighted in its latest Annual Report. With a workforce of 22,236 employees, including a significant number of drivers, VRL is committed to recruiting full-time drivers and providing them with comprehensive training and benefits. Chairman Vijay Sankeshwar acknowledged the various challenges faced by the logistics sector, including unhealthy competition and adverse weather conditions, while emphasizing a cautious approach to fleet expansion. As of March 2025, VRL operated 6,115 vehicles and reported a 10% increase in revenue to ₹3,186 crore, with net profit soaring 105% year-on-year to ₹183 crore. The company is also modernizing its fleet, having added 457 vehicles in line with its growth strategy.
Published: Jul 13 2025, 4 pmeznews.inIn a bid to bolster the reliability and efficiency of renewable energy projects, the Central Electricity Authority (CEA) has mandated the installation of automatic weather stations (AWS) at wind and solar plants with capacities of 50 MW or more. This directive, outlined in a notification dated July 7, aims to address the challenges posed by inaccurate weather forecasts, which can lead to financial penalties under the Deviation Settlement Mechanism. The CEA has developed guidelines requiring these stations to be integrated into bid documents for renewable energy projects. Each AWS must be strategically located to accurately reflect local weather conditions, with specific requirements for solar and wind installations. The stations will measure critical meteorological parameters, enhancing generation predictability and grid stability. The initiative follows an advisory issued in February promoting the co-location of energy storage systems with solar projects to improve cost efficiency and grid stability.
Published: Jul 13 2025, 3 pmeznews.inThe Visakhapatnam Port Authority (VPA) is set to host the 2nd Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Ports Conclave on July 14-15, 2025, aimed at enhancing regional maritime connectivity. Themed “Navigating the Future: Blue Economy, Innovation & Sustainable Partnerships,” the two-day event will gather ministerial delegations, port authorities, and maritime experts from BIMSTEC member countries, including India, Bangladesh, and Thailand. Union Minister Sarbananda Sonowal will inaugurate the conclave, which aligns with India’s Maritime India Vision 2030 and Amrit Kaal Vision 2047. Discussions will focus on green ports, smart logistics, and cross-border collaboration, fostering investment and innovation. As a leader in green and smart port initiatives, Visakhapatnam is positioned to redefine the Bay of Bengal as a global trade hub, reinforcing India’s strategic maritime role in the Indo-Pacific region.
Published: Jul 13 2025, 3 pmeznews.inIndia's recent push for electric trucks (e-trucks) has drawn criticism from transport experts who argue that the initiative could hinder the country's net-zero goals. They contend that e-trucks are impractical for most commercial freight due to their limited range of approximately 150 kilometers, compared to the extensive capabilities of Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) vehicles, which can cover up to 2,400 kilometers on major highways. The existing CNG infrastructure, with 24/7 availability across 25 states, further enhances its viability for long-haul operations. Additionally, the cost disparity is significant, with e-trucks priced around ₹58 lakh, even after incentives, versus ₹15 lakh for CNG trucks. Experts advocate for a shift in focus towards proven CNG/LNG technologies, which have been effective for over 15 years, to achieve meaningful emissions reductions and support India's clean freight movement ambitions.
Published: Jul 13 2025, 3 pmeznews.inRetail inflation in India, as measured by the Consumer Price Index (CPI), is projected to have fallen below 2.8% in June, marking the second consecutive month below 3% and the fifth month under the Reserve Bank of India's medium-term target of 4%. The anticipated decline is attributed to easing food prices, particularly following a robust spring harvest, despite some upward pressure on vegetable prices due to uneven monsoon conditions. The year-on-year inflation rate for food, based on the Consumer Food Price Index, dropped to 0.99% in May, the lowest since October 2021. However, core inflation, excluding food and fuel, is expected to rise to 4.5% in June, driven by increased prices for gold and other items. The government will officially release the inflation data on Monday, but analysts suggest that this trend may not prompt further rate cuts by the Monetary Policy Committee in August.
Published: Jul 13 2025, 3 pmeznews.inIndia's non-leather footwear sector is attracting significant interest from Taiwanese and Vietnamese companies, with the Council for Leather Exports (CLE) emphasizing the need for government support to facilitate their investments. CLE Chairman RK Jalan highlighted that these firms import essential components from countries like China and are eager to establish manufacturing facilities in India. The country's exports are on an upward trajectory, with a target of $7 billion in shipments by 2025-26, up from $5.75 billion in 2024-25. The United States remains the largest market for Indian exports, accounting for 20% of shipments. Jalan noted that an 18% growth is anticipated this year, driven by enhanced manufacturing and job creation. He also called for the implementation of a focused product scheme to boost productivity and competitiveness in the sector, while industry leaders like Yadvendra Singh Sachan see vast investment opportunities in states like Uttar Pradesh and Bihar due to their affordable labor.
Published: Jul 13 2025, 12 pm
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