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Finance Minister Nirmala Sitharaman addressed the Lok Sabha on Wednesday, clarifying that the recent ‘Grade C’ rating for national income accounting was due to the outdated base year of 2011-2012, not the data's credibility. This statement came amid discussions on the Central Excise (Amendment) Bill, which aims to levy excise duty on tobacco products, ensuring that the tax burden remains consistent with the current GST regime. Sitharaman emphasized that this is not an additional tax but a return to excise duty, which will be redistributed to states. The proposed excise rates include 60-70% on unmanufactured tobacco and specific duties on various types of cigarettes. The Bill is crucial as it replaces the GST compensation cess, which will end soon as the government prepares to repay loans taken during the COVID-19 pandemic. The new data base year will be implemented starting February 2024. 
Published: Dec 03 2025, 8 pmeznews.inFedEx has expanded its logistics hub in Bengaluru with a new 60,000 sq ft facility at the AI-SATS Logistics Park, bringing its total operational footprint in the city to 100,000 sq ft. This expansion aligns with Kempegowda International Airport's plans to nearly double its annual cargo capacity to 1 million tonnes, enhancing Bengaluru's role as a vital export gateway. The fully automated hub can process up to 4,000 packages per hour, catering to the growing demand from sectors such as electronics and e-commerce. Suvendu Choudhury, Vice President of Operations, noted that FedEx has experienced significant growth over the past two years and is well-positioned for future expansion. The company has also introduced a direct Guangzhou-Bengaluru-Europe freighter route, improving transit times and bolstering its service offerings. Currently, SMEs represent over 60% of FedEx's client base in India, with e-commerce driving 30-35% of its business.
Published: Dec 03 2025, 8 pmeznews.inPassengers at Mumbai airport faced significant disruptions on Wednesday as IndiGo, India's largest airline, grappled with a severe pilot shortage, resulting in over 200 flight cancellations and delays of up to 12 hours. The crisis stemmed from the implementation of new flight duty time regulations and an expanded winter schedule, which led to 65% of IndiGo's flights being delayed on Tuesday, the highest among major airlines. Complaints from frustrated travelers highlighted poor communication from staff and a lack of updated information. IndiGo attributed the operational challenges to unforeseen factors, including technology glitches and increased congestion, and announced measures to stabilize operations over the next 48 hours. Aviation sources indicated that the airline miscalculated its pilot requirements under the new regulations, which have been criticized by pilots for their stringent conditions. Affected customers are being offered alternative travel arrangements or refunds.
Published: Dec 03 2025, 8 pmeznews.inAt the CII IndiaEdge 2025 event in New Delhi, Chief Economic Adviser V Anantha Nageswaran addressed concerns over the Indian rupee's depreciation, which recently crossed 90 against the US dollar. He reassured markets, stating that the government is not overly concerned, as the current depreciation is not adversely affecting exports or inflation. Nageswaran noted that the rupee's decline, over 5% this year, is the steepest since 2022, driven by foreign institutional investor outflows and increased dollar purchases by banks. He emphasized that the rupee's performance should be viewed in the context of global economic pressures, including rising US interest rates. On foreign direct investment (FDI), Nageswaran projected that India could surpass $100 billion this year, citing a rise in FDI inflows amid changing global investment patterns. He urged the government to enhance infrastructure and address tax issues to attract more FDI.
Published: Dec 03 2025, 8 pmeznews.inThe Indian government has authorized sugar mills to export 1.5 million tonnes of sugar for the 2025-26 season, leading to contracts for over 100,000 tonnes already secured for delivery by mid-January. Despite initial concerns about competitiveness due to the rupee's depreciation against the dollar, industry experts anticipate further contracts as the currency has recently crossed the 90 mark. Key markets for Indian sugar include Afghanistan, Sri Lanka, and several countries in the Middle East and Africa, with prices ranging from $440 to $510 per tonne. The Food Ministry allocated export quotas based on average production over the past three seasons, with many mills in Uttar Pradesh opting to sell their quotas to exporters. The National Federation of Cooperative Sugar Factories has requested an additional 1 million tonnes for export to bolster domestic prices and alleviate financial pressures on mills, as sugarcane production is projected to rise significantly this season.
Published: Dec 03 2025, 8 pmeznews.inJyoti Global Plast has unveiled the AeroCrop Agricultural UAS, a precision drone aimed at enhancing agricultural efficiency. Drawing on over 40 years of expertise in precision plastic and FRP moulding, the company has ventured into unmanned systems, tailoring the AeroCrop to meet farmers' operational needs. The drone boasts a flight time of up to 29 minutes without payload and 22 minutes with, featuring a 10-litre tank and advanced nozzles for consistent spraying. It can cover an acre in just five to eight minutes, facilitating up to 30 acres of spraying daily while minimizing chemical waste. A key highlight is its intelligent radar-based navigation system, which ensures safety and precision during autonomous missions. Deven Shah, CEO of Jyoti Global Plast, emphasized the drone's role in making modern agricultural tools accessible, aiming to support both seasoned drone users and those new to mechanized spraying.
Published: Dec 03 2025, 7 pmeznews.inIn a recent update, the Ministry of Road Transport and Highways (MoRTH) has initiated a nationwide campaign to identify and remove unauthorized encroachments on National Highways. An official memorandum has instructed regional officers from MoRTH, the National Highways Authority of India (NHAI), and the National Highways and Infrastructure Development Corporation Limited (NHIDCL) to conduct comprehensive inspections using advanced tools, including the Drone Analysis Management System (DAMS) and the Rajmargyatra app. The removal process will adhere to the Control of National Highways (Land and Traffic) Act, 2002, and relevant regulations, with local authorities providing support as needed. This initiative underscores the government's commitment to addressing the critical issue of encroachments, which pose significant challenges to highway safety and infrastructure. The memorandum emphasizes the importance of technology in monitoring and managing these encroachments effectively.
Published: Dec 03 2025, 7 pmeznews.inThe draft Atomic Energy Bill 2025 is nearing completion, with final suggestions from various ministries being integrated, as confirmed by Minister of State for the Prime Minister’s Office, Jitendra Singh, in Lok Sabha. He highlighted that the bill addresses critical issues such as nuclear safety, regulatory oversight, and liability provisions, with legal vetting by the Ministry of Law and Justice underway. Singh emphasized the government's commitment to incorporating policy directives before seeking approvals. Additionally, Minister of State for Power Shripad Naik noted that amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act aim to attract private sector investment. With nuclear power currently contributing 3.1% to India's electricity generation, the government plans to boost installed capacity from 8,780 MW to 22,380 MW by 2031-32 and aims for a total capacity of 100,000 MW by 2047, supported by a ₹20,000 crore budget for Small Modular Reactors.
Published: Dec 03 2025, 7 pmeznews.inCommerce Minister Piyush Goyal has expressed optimism about India's export performance, stating that goods exports are on a "strong wicket" despite global economic challenges. Speaking at an industry event, Goyal noted that November 2025 exports showed a significant rebound, surpassing the decline seen in October, resulting in overall growth for the two months combined. In October, however, exports fell 11.8% year-on-year to $34.48 billion, with a notable 8.7% drop in exports to the US, attributed to the impact of recent tariffs. For the April-October 2025 period, exports saw a slight increase of 0.63%, while imports rose by 6.37%. Addressing concerns over the depreciating rupee, Goyal highlighted robust economic growth at 8.2% in Q2, low inflation, and strong foreign exchange reserves, emphasizing India's commitment to enhancing trade relations with global partners. The formal trade data for November is expected to be released by mid-December.
Published: Dec 03 2025, 7 pmeznews.inAir India SATS Airport Services Pvt Ltd. (AISATS) has officially launched full-scale ground handling operations at Cochin International Airport, marking its second station in Kerala and the eighth across India. The company has deployed an initial team of 150 trained professionals to enhance operations at this key aviation hub, which serves over 28 airlines and handled nearly 60,000 tonnes of cargo while welcoming more than 10 million passengers in FY24. AISATS aims to provide future-ready technology and globally benchmarked safety systems, starting with support for Batik Air and Thai Lion Air, as well as other international and domestic carriers. This expansion comes amid significant growth in India's aviation sector, with Kerala increasingly vital in the Gulf–India–Southeast Asia air corridor. AISATS is also investing in advanced cargo infrastructure, including the AISATS BLR Logistics Park in Bengaluru and a new Multi-Modal Cargo Hub at Noida International Airport.
Published: Dec 03 2025, 6 pm
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