eznews.inUnion Finance Minister Nirmala Sitharaman has responded to the International Monetary Fund's (IMF) recent 'C' rating of India's national accounts data, attributing it to an outdated base year rather than the quality of the statistics. In a parliamentary address, she explained that the rating reflects methodological weaknesses linked to the current base year of 2011-12, which the government plans to update to 2022-23 starting February 27, 2026. Despite the rating, the IMF projects India's economy will grow by 6.5%, and Sitharaman noted that the fund acknowledged the country's effective inflation management. Overall, India received a 'B' rating across various economic indicators, including inflation and government finance, indicating a generally positive assessment of its economic health. 
Published: Dec 04 2025, 9 ameznews.inChennai, Puducherry, and southern Tamil Nadu are expected to experience isolated heavy rain and thundershowers on Thursday, following a day of significant rainfall across the region. On Wednesday, Puducherry recorded an extraordinary 23 cm of rain, with Chennai's Nungambakkam and Meenambakkam receiving 22 cm and 15 cm, respectively. In Rayalaseema, Anantapur saw 22 cm of rain, while Kavali in Coastal Andhra Pradesh recorded 16 cm. The India Meteorological Department (IMD) has indicated that despite the weakening of a low-pressure system associated with the remnants of cyclone Ditwah, heavy rainfall is still anticipated in Tamil Nadu and Puducherry over the next two days. Additionally, isolated heavy rain is forecasted for Kerala and South Interior Karnataka, with thunderstorms and lightning expected across the broader South Peninsula.
Published: Dec 04 2025, 9 ameznews.inIndia's future economic growth relies on strategic alignment across various sectors, according to Sanjiv Bajaj, Chairman of Bajaj Finserv Ltd. In a recent interview, he emphasized the need for coherence between customs duties, Free Trade Agreements (FTAs), and Production-Linked Incentive (PLI) schemes, alongside state-level reforms in land, labor, power, and water. Bajaj highlighted the importance of a GST-like body to address Centre-State issues, noting that global tariff disruptions have undermined export confidence and investment decisions. While acknowledging early successes with FTAs, such as the UAE agreement, he pointed out the challenges in penetrating markets like Japan and Russia. He also discussed the significance of the new labor codes and the necessity for domestic capital to drive long-term growth. Bajaj urged the government to focus on policy alignment and infrastructure investment to foster a stable environment for foreign and domestic capital, ultimately enhancing India's economic landscape.
Published: Dec 03 2025, 9 pmeznews.inThe Crop Care Federation of India (CCFI), representing pesticide manufacturers, has called for the retraction of a research report by the Indian Council of Medical Research (ICMR) that links pesticide exposure to depression and cognitive impairment among agricultural workers in West Bengal. In a letter to ICMR Director General Rajiv Bahl, CCFI's executive director Nirmala Pathrawal emphasized the importance of scientific diligence and criticized the study, which reported an 18.9% prevalence of cognitive impairment and 8.3% depression among participants. CCFI argued that the findings could misrepresent India's agricultural practices, noting the country’s position as a leading agrochemical exporter and efficient pesticide user. The federation also pointed out that case-control studies, like the one conducted, cannot definitively establish cause-and-effect relationships due to their observational nature. Additionally, they highlighted that other health factors, such as anemia, could contribute to cognitive issues in the studied population.
Published: Dec 03 2025, 9 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.inFinance 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.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 pm
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