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In a significant ruling, the Gauhati High Court has determined that fruit pulp or fruit juice-based drinks, including carbonated varieties, will be subject to a Goods and Services Tax (GST) of 12% instead of the previously imposed 28%. This decision, made on March 4, 2025, provides relief to companies like X’SS Beverage, which produces a range of carbonated fruit drinks. Justice Soumitra Saikia emphasized that the presence of soluble solids and fruit content distinguishes these beverages from water or carbonated water, thus justifying the lower tax rate. The court's classification was based on the dominant nature of the product, particularly the significant fruit juice content, which it deemed essential to the beverage's character. Harpreet Singh from Deloitte noted that the ruling reflects a careful application of classification rules, considering factors such as ingredient proportions and marketing practices. 
Published: Mar 12 2025, 9 ameznews.inThe Ministry of Defence (MoD) has responded to concerns raised by Micro, Small, and Medium Enterprises (MSMEs) and start-ups in the defence sector regarding GST notices they received for grants under the Technology Development Fund (TDF). Following a report by _businessline_ highlighting the tax disparity between public and private entities, Sherry Gaur, Program Executive at Innovations for Defence Excellence (iDEX), urged affected companies to provide details for further discussions with tax authorities. The Defence Research and Development Organisation (DRDO) is also seeking clarification on why private players are subject to GST while public institutions are exempt. With a budget allocation of ₹26,816.82 crore for FY 2025-26, including significant funding for R&D projects, the MoD aims to address these tax liabilities, which have raised concerns among approximately 80 entities benefiting from the TDF.
Published: Mar 12 2025, 8 pmeznews.inThe Kerala Fisheries Department is advocating for the Marine Stewardship Council (MSC) certification to bolster the sustainability of India's seafood exports amid challenges like resource depletion and climate change. Special Secretary B Abdul Nasar emphasized that this global certification would enhance the competitiveness of Indian seafood on the international stage while ensuring the preservation of marine resources. During a recent workshop aimed at training fisheries officials, he highlighted the urgent need for sustainable fishing practices to protect the livelihoods of fishing communities and marine biodiversity. With a focus on a dozen prioritized species, including deep-sea shrimp and cuttlefish, the Department is working to implement necessary management measures. Experts, including former CMFRI scientist Sunil Mohamed, warned of alarming declines in fish stocks, stressing the importance of immediate action. MSC certification is expected to improve market access for Indian fisheries, particularly in Europe and North America, according to Amanda Lejbowicz from MSC.
Published: Mar 12 2025, 8 pmeznews.inIn a significant development for India's banking sector, a consortium of 25 banks led by the State Bank of India (SBI) has transferred ₹12,700 crore in stressed loans from Jaiprakash Associates Ltd (JAL) to the National Asset Reconstruction Company Ltd (NARCL), the country's designated 'bad bank.' This transaction, executed under a 15:85 model, provides the banks with an immediate cash inflow of ₹1,905 crore, while the remaining ₹10,795 crore will be received through security receipts from NARCL. JAL, which has been under bankruptcy proceedings since last year after being classified as a non-performing asset in 2016, has total outstanding debts exceeding ₹55,493 crore. The insolvency process continues, with the deadline for Expressions of Interest extended to March 25, and final recovery for banks will depend on the resolution outcome. The last date for submission of resolution plans is now set for June 9, 2025.
Published: Mar 12 2025, 8 pmeznews.inIndia's Mines Ministry is set to launch its inaugural auction of exploration licences on Thursday, aimed at tapping into the country's mineral resources, including zinc, diamond, and copper. The auction will take place in Goa and will feature 13 blocks available for online bidding. This initiative follows the enactment of the MMDR Amendment Act, 2023, which facilitates private participation in the exploration of 29 critical minerals, such as lithium, cobalt, and gold. The introduction of exploration licences is designed to enhance private sector involvement and accelerate exploration efforts, aligning with India's goal of achieving mineral security and self-reliance. Additionally, the Ministry plans to host a roadshow to promote the fifth tranche of critical mineral blocks, further emphasizing the government's commitment to boosting the mining sector.
Published: Mar 12 2025, 8 pmeznews.inIndia's industrial production saw a notable increase of 5% in January 2025, up from 3.5% in December, while retail inflation eased to a seven-month low of 3.6% in February, down from 4.3% in January. This decline in inflation, attributed to falling food prices, positions the Reserve Bank of India (RBI) to potentially implement a 25 basis points interest rate cut in April. Experts caution, however, that inflation may rise slightly in March, with projections suggesting a CPI inflation rate of 3.9-4% for the month. The Statistics Ministry reported a significant drop in food inflation, particularly in vegetables and pulses, which contributed to the overall decline. Industrial growth was driven by positive performances in mining, manufacturing, and electricity sectors, with primary goods and infrastructure leading the way. Analysts anticipate cumulative rate cuts of 50-75 basis points in the current cycle, contingent on forthcoming economic data.
Published: Mar 12 2025, 7 pmeznews.inSoyameal exports from India have seen a significant decline, dropping by 19% to 9.50 lakh tonnes in the first five months of the oil year starting October 2024, compared to 11.71 lakh tonnes last year, primarily due to weak overseas demand. Production also fell by 10% to 40.64 lakh tonnes, attributed to sluggish crushing activity amid low soyabean prices, which remain below the minimum support price. Domestic demand for soyameal, particularly from the livestock feed sector, has also weakened, with a 6.7% decrease in offtake to 27.50 lakh tonnes. Despite muted overall demand, European countries like France and Germany have shown strong interest, with France emerging as the largest buyer at over 1.4 lakh tonnes. As of February-end, stocks held by traders and crushing plants stood at 48.01 lakh tonnes, with government agencies holding an additional 20 lakh tonnes.
Published: Mar 12 2025, 7 pmeznews.inThe Indian Sugar and Bio-Energy Manufacturers Association (ISMA) has revised its sugar production estimate for the 2024-25 season down to 26.4 million tonnes (mt), primarily due to lower sugarcane yields in Maharashtra and Karnataka. This adjustment also includes a reduction in the diversion of sugar for ethanol production to 3.5 mt. As of March 10, 2025, total sugar production reached 23.31 mt, with Uttar Pradesh, Maharashtra, and Karnataka contributing significantly. While Uttar Pradesh is expected to see improved recovery rates, some mills may close by the end of March. The revised estimates indicate that Uttar Pradesh will produce 9.25 mt, Maharashtra 8.1 mt, and Karnataka 4.15 mt. Despite the current challenges, ISMA noted that favorable monsoon conditions have led to improved planting for the 2025-26 season, suggesting a more robust outlook for future production.
Published: Mar 12 2025, 6 pmeznews.inA report by Primus Partners highlights the transformative potential of India's seaweed farming sector, currently valued at ₹200 crore, which could grow to ₹3,277 crore in the next decade, impacting 1.6 million lives and creating sustainable livelihoods for 400,000 families. Despite India's vast coastline and regions like Lakshadweep and the Andaman Islands offering significant opportunities, the country contributes less than 1% to global seaweed production. Rising demand across various industries, including food and pharmaceuticals, positions seaweed farming as a key driver of India's blue economy. However, challenges such as inconsistent seed quality and logistical issues hinder growth. The report calls for a comprehensive roadmap to enhance infrastructure, policy support, and market access, alongside private investment incentives. Experts emphasize that resolving perceptions around high-value species like Kappaphycus could unlock substantial economic benefits, fundamentally transforming coastal livelihoods and promoting sustainable agriculture.
Published: Mar 12 2025, 6 pmeznews.inIndia's mergers and acquisitions (M&A) activity has surged in 2025, reaching a three-year high of $18.2 billion, a 2.5% increase from the previous year, with the number of deals rising 4.2% to 570. This momentum follows a strong start to the year, with January witnessing a 16-month peak of $11.36 billion in M&A transactions. Notable deals include ITC Hotels' $4.3 billion acquisition and ONGC NTPC Green's $2.25 billion purchase of Ayana Renewable Power. The Finance Minister, Nirmala Sitharaman, has pledged to simplify the M&A process in her recent budget, aiming to create a more efficient framework for corporate restructuring. Cabinet Secretary T V Somanathan is gathering inter-ministerial feedback to streamline merger approvals, which currently face delays due to court-driven processes. The proposed reforms seek to enhance the speed and transparency of M&A transactions, positioning them as vital tools for growth in India's evolving economic landscape.
Published: Mar 12 2025, 6 pmeznews.inThe Solvent Extractors’ Association of India (SEA) and Solidaridad, with technical support from the ICAR-Directorate of Rapeseed-Mustard Research (ICAR-DRMR), have launched 2,000 mustard model farms (MMF) across Madhya Pradesh, Uttar Pradesh, and Rajasthan this year. This initiative aims to enhance mustard production through the introduction of high-yielding varieties, improved pest management, and climate-resilient practices, alongside farmer field schools for knowledge sharing. The structured approach includes soil testing, training for lead farmers, and the distribution of quality inputs. SEA President Sanjeev K Asthana highlighted the project's potential to reduce India's reliance on edible oil imports, with mustard accounting for 40% of the country's production. The initiative, which began in 2020-21, has seen mustard production rise from 8.6 million tonnes in 2020-21 to 12 million tonnes in 2023-24, while cultivation area has expanded from 6.70 million hectares to approximately 10 million hectares.
Published: Mar 12 2025, 6 pm
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