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The Indian government has commenced wheat procurement in Rajasthan and Madhya Pradesh, with Rajasthan starting early and relaxing quality norms to facilitate the process. As of March 21, approximately 900 tonnes have been procured in Rajasthan since March 10, while Madhya Pradesh has seen around 17,000 tonnes since its procurement began on March 15. The Centre has set procurement targets of 60 lakh tonnes for Madhya Pradesh and 20 lakh tonnes for Rajasthan, with both states offering bonuses above the minimum support price (MSP) of ₹2,425 per quintal. The relaxation of quality standards in Rajasthan allows for a higher percentage of shrivelled and broken grains, aimed at alleviating farmer distress amid concerns of potential crop yield drops due to adverse weather. The government has mandated that wheat procured under these relaxed norms must be consumed within the state, placing the responsibility for quality deterioration during storage on the state government. 
Published: Mar 21 2025, 8 pmeznews.inFinance Minister Nirmala Sitharaman, addressing the Chennai Citizens Forum on March 22, 2025, refuted claims of discrimination in Central assistance to Tamil Nadu, emphasizing the state's significant share of funds from various schemes, particularly the Productivity-Linked Incentive (PLI) programme. She noted that Tamil Nadu is a leader in semiconductor, electronics, and automobile manufacturing, hosting over 47 units supported by the Union Ministry of Electronics and Information Technology. The state has secured 25% of approvals under the PLI Scheme for Large-Scale Electronics Manufacturing, with 46 out of 82 approved units in the automobile sector. Sitharaman also announced plans for two Electronics Manufacturing Clusters in Tamil Nadu, backed by over ₹1,000 crore in investment. Additionally, she highlighted the Centre's commitment to developing Tamil Nadu as a hub for advanced technologies, including offshore wind energy projects and a Green Hydrogen Hub Port in Thoothukudi.
Published: Mar 22 2025, 10 pmeznews.inThe Indian government's Production Linked Incentive (PLI) scheme, launched in 2021 with a budget of ₹1.97 lakh crore, has attracted investments of ₹1.61 lakh crore and generated sales of approximately ₹14 lakh crore, according to a recent Commerce Department report. However, disbursal of incentives has been slow, totaling only ₹14,020 crore across ten of the fourteen targeted sectors, including electronics, pharmaceuticals, and food processing. While the scheme has created over 11.5 lakh jobs and approved 764 applications, four sectors, including specialty steel and high-efficiency solar PV modules, have yet to receive any incentives. The Prime Minister's Office is reportedly prioritizing the performance of existing sectors over expanding the scheme's coverage, with potential plans for an additional manufacturing initiative still under consideration. Notably, exports linked to the PLI scheme have exceeded ₹5.31 lakh crore, driven largely by the electronics and pharmaceuticals sectors.
Published: Mar 22 2025, 7 pmeznews.inThe Standing Committee on Finance in India, led by BJP MP Bhartruhari Mahtab, has proposed significant reforms to enhance corporate accountability in Environmental, Social, and Governance (ESG) practices. Key recommendations include establishing an independent ESG oversight body within the Ministry of Corporate Affairs (MCA) and amending the Companies Act of 2013 to make ESG objectives a fiduciary responsibility for corporate directors. This initiative aims to combat greenwashing—where companies misrepresent their sustainability efforts—by introducing penalties for misleading claims. The committee also suggests creating independent ESG committees within corporate boards to ensure effective monitoring and integration of sustainability into business strategies. Additionally, it calls for the MCA to include a dedicated ESG chapter in its Annual Report starting in fiscal year 2025-26, promoting transparency and accountability. If adopted, these measures could position India as a leader in ESG regulation, aligning its practices with global standards and attracting ethical investors.
Published: Mar 22 2025, 7 pmeznews.inThe Indian government's Production Linked Incentive (PLI) scheme, launched in 2021 with a budget of ₹1.97 lakh crore, has attracted investments of ₹1.61 lakh crore and generated sales of approximately ₹14 lakh crore, according to a recent Commerce Department report. However, disbursal of incentives has lagged at ₹14,020 crore, covering only ten of the fourteen targeted sectors. While 764 applications have been approved, including 176 from MSMEs in sectors like pharmaceuticals and electronics, four sectors, including specialty steel and textiles, have yet to receive any incentives. The Prime Minister's Office is reportedly prioritizing the performance of existing sectors over expanding the scheme to new areas. Despite challenges, sectors such as large-scale electronics and pharmaceuticals have shown promise, with exports exceeding ₹5.31 lakh crore. The government is considering an additional scheme to further boost manufacturing, though details remain unfinalized.
Published: Mar 22 2025, 7 pmeznews.inThe Reserve Bank of India (RBI) is poised to implement further rate cuts of 50-75 basis points by March 2026, driven by easing inflation and ongoing fiscal consolidation, according to Crisil's economic research team. Following a recent 25 basis point reduction in February, the RBI's monetary policy committee (MPC) has adopted a neutral stance, allowing for flexibility in response to global economic conditions. However, potential challenges such as US tariff hikes, moderating Federal Reserve rate cuts, geopolitical tensions, and weather-related risks could influence the rate-cutting trajectory. Crisil forecasts consumer price index (CPI) inflation to decline to 4.4% in fiscal 2026, down from an estimated 4.7% in fiscal 2025, aided by a robust rabi crop and expectations of a normal monsoon, alongside soft global food prices. This outlook suggests a favorable environment for monetary easing in the coming years.
Published: Mar 22 2025, 7 pmeznews.inIn a significant policy shift, the Indian government has announced the removal of the 20% export duty on onions, effective April 1, 2025, following persistent demands from growers and exporters who argued that the duty was eroding India's competitiveness in the global market. This decision comes after a series of export restrictions, including a complete ban in December 2023 due to El Niño-induced production declines, and a subsequent 40% export duty imposed in May 2024, which was later reduced to 20% in September. The Ministry of Agriculture and Farmers’ Welfare has projected onion production for the current crop year at 28.88 million tonnes, an increase from 24.27 million tonnes last year, although still below the 30.21 million tonnes recorded in 2022-23. The move also follows a notable drop in modal prices, which fell by ₹850 per quintal this month, prompting the government to act to stabilize the market.
Published: Mar 22 2025, 7 pmeznews.inThe accumulated deficit of state-owned electricity distribution companies (Discoms) in India surged to ₹6.92 lakh crore in FY24, up from ₹6.46 lakh crore the previous year, with Tamil Nadu, Uttar Pradesh, Rajasthan, Madhya Pradesh, and Telangana reporting significant increases. Tamil Nadu's deficit rose to ₹1.67 lakh crore, while Uttar Pradesh's climbed to ₹89,662 crore. The Minister of State for Power, Shripad Naik, attributed the financial losses to factors such as the non-implementation of the Fuel and Power Purchase Cost Adjustment (FPPCA), delays in tariff orders, and inefficiencies in billing and collection. In contrast, states like Gujarat, Delhi, and Maharashtra reported surpluses. To address these challenges, the Ministry is implementing measures to enhance Discom performance, including new borrowing provisions and the Revamped Distribution Sector Scheme, which has helped reduce national Aggregate Technical and Commercial losses from 22% in FY21 to 16.28% in FY24.
Published: Mar 22 2025, 6 pmeznews.inA recent report by Nasscom and BOD Consulting reveals that India's technology sector is significantly enhancing its Corporate Social Responsibility (CSR) efforts, with 83% of tech companies exceeding the mandated 2% profit allocation for CSR in FY23, compared to 65% in non-tech sectors. Major areas of investment include education (38.4%), environment and climate change (25.5%), and skilling (16%). The report highlights that 75 leading tech firms undertook 2,610 CSR projects, contributing ₹5,443 crores, marking a 13% increase in total CSR spending from the previous year. Notably, 65% of these initiatives are tech-driven, utilizing AI and online platforms to address education and sustainability challenges. Despite this progress, the report underscores ongoing challenges in achieving equitable CSR distribution across regions and enhancing collaborations with NGOs, emphasizing the need for data-led strategies to further elevate community impact and align with national agendas and UN Sustainable Development Goals.
Published: Mar 22 2025, 3 pmeznews.inMaharashtra's sugar industry is facing a significant downturn in the 2024-25 season, with sugarcane crushing and production plummeting nearly 19% and 24%, respectively, compared to the previous year. The Sugar Commissioner’s office reported that only 904 lakh tonnes of sugarcane were available for crushing, down from 1,076 lakh tonnes, primarily due to adverse weather, diversion of sugarcane for fodder and seed, and a government policy shift towards ethanol production. Delayed harvesting, caused by state assembly elections, further exacerbated the situation, with actual crushing commencing only after November 25, 2024. Additionally, competition from neighboring Karnataka, which began operations earlier, diverted cane from border districts. Labor shortages, driven by early mill openings in Karnataka, and the rise of non-traditional sugar production have also hampered operations. As of mid-March 2025, only 28 mills remained operational, highlighting the challenges facing Maharashtra's crucial sugar sector.
Published: Mar 22 2025, 9 ameznews.inThe demand for electric vehicle (EV) insurance in India has surged dramatically, with adoption increasing 16-fold over the past three years, according to Policybazaar's internal data. The share of insurance policies for EV cars rose from just 0.5% in FY23 to 14% by March 2025, while insured two-wheeler EVs now account for 7-8% of all two-wheeler insurance policies. Electric scooters dominate this segment, comprising 98-99% of insured two-wheelers. The trend is particularly pronounced in major metro areas, with Delhi-NCR, Bangalore, Pune, Chennai, and Mumbai-Thane collectively representing 55% of all EV insurance policies. Notably, consumers are increasingly opting for comprehensive coverage, including popular add-ons like Zero Depreciation and Battery Cover. This shift towards EV insurance reflects a broader movement towards sustainable mobility in India, as consumers recognize the importance of tailored protection for their electric vehicles.
Published: Mar 22 2025, 9 am
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