eznews.in
As the deadline for filing Immovable Property Returns (IPRs) approaches on January 31, 2024, over 10,000 Group ‘A’ and Group ‘B’ Income Tax officials are yet to submit their declarations, prompting concerns from the Central Board of Direct Taxes. A communication issued on January 20 warns that last-minute filings often lead to technical issues on the SPARROW portal, causing stress for employees. Under the Central Civil Services (Conduct) Rules, these officials are required to disclose details of any immovable property they own or lease, and failure to comply by the deadline can result in significant repercussions, including denial of vigilance clearance and eligibility for sensitive posts. The Central Vigilance Commission has emphasized that timely submission is mandatory, with non-compliance potentially leading to disciplinary action against officials. Authorities are urging employees to file their returns well ahead of the deadline to avoid complications. 
Published: Jan 21 2025, 7 pmeznews.inBuyofuel has launched the Buyo Inventory App, designed to enhance inventory management for the biofuel industry, which has long struggled with issues such as stock mismanagement and production inefficiencies. Available for download on major app stores, the app allows biofuel manufacturers, suppliers, and traders to track the real-time inflow of raw materials and outflow of finished products, helping to prevent overstocking and shortages. It also integrates with machinery maintenance schedules to minimize downtime. Kishan Karunakaran, CEO of Buyofuel, emphasized that the app represents a significant advancement for the sector, aiming to streamline operations and improve profitability through its user-friendly interface. This initiative aligns with Buyofuel's commitment to innovation and sustainability, fostering a more efficient ecosystem for biofuel trade and management, ultimately contributing to a greener future.
Published: Jan 22 2025, 8 ameznews.inAs the Trump administration's "America First" trade policy raises concerns over potential tariff threats to India, experts advise the Indian government to engage in consultations with the U.S. before considering retaliation. While the policy primarily targets China, it includes provisions for investigating trade deficits with other nations, including India. Analysts suggest that India should monitor developments closely and initiate discussions with U.S. officials to address any trade imbalances. Biswajit Dhar, a distinguished professor, emphasized the importance of a measured response, advocating for consultations first, with retaliation only if necessary. India previously retaliated against U.S. tariffs on steel and aluminum in 2018 by increasing tariffs on 29 American products. With the U.S. being India's largest export market, accounting for $77.51 billion in FY24, any trade actions could significantly impact both economies.
Published: Jan 21 2025, 9 pmeznews.inTea arrivals at upcoming auctions in Coonoor are anticipated to decline during the Pongal festival and subsequent local holidays, attributed to reduced plucking activity in production centres. This seasonal slowdown, coupled with diminished export demand, has led to a drop in tea prices, with the overall market decreasing by ₹1-2 per kg. Despite this, traders noted that blenders provided some support, particularly for whole leaf and plainer varieties, which remained stable. In the latest auction, 14,83,438 kg of leaf tea was offered, achieving an 85% sales rate, while 3,98,032 kg of dust tea saw a 61% sales rate. High-priced CTC leaf teas increased by ₹3-4, while better liquoring sorts fell by ₹1-2. Dust CTC varieties experienced a decline of ₹5-6, with overall demand for dust tea remaining weak.
Published: Jan 21 2025, 9 pmeznews.inUrea sales in India have risen by 6.4% to 300.26 lakh tonnes in the current fiscal year, as the government aims for self-sufficiency in urea by 2025. Overall fertilizer sales increased by 7.3% to 525.92 lakh tonnes, despite a 12.7% decline in Di-ammonium Phosphate (DAP) sales, which fell to 86.23 lakh tonnes. In contrast, Muriate of Potash (MOP) sales surged by 31.6% to 16.78 lakh tonnes. Urea imports dropped significantly by 28.9% to 43.16 lakh tonnes, reflecting the government's efforts to reduce dependency on foreign supplies. The total fertilizer import also decreased by 18.4% to 120.54 lakh tonnes. The government has allocated ₹1,64,000 crore for fertilizer subsidies, with urea subsidies alone reaching ₹98,258.74 crore. A push for nano DAP is planned to further reduce phosphatic fertilizer consumption without compromising crop yields.
Published: Jan 21 2025, 8 pmeznews.inEuropean Commission President Ursula von der Leyen has announced her intention to visit India as part of her first official trip in her new term, aiming to enhance the strategic partnership with the world's largest democracy. This announcement, made during her address at the World Economic Forum in Davos, comes on the heels of US President Donald Trump's "America First Trade Policy," which threatens additional tariffs on trade partners. Von der Leyen emphasized the need for collaboration amid a new era of intense geostrategic competition, where major economies are vying for resources and trade routes. She highlighted the importance of balancing national security with innovation and prosperity, urging cooperation to prevent a detrimental global economic race. This dialogue follows a recent high-level India-EU trade meeting in Brussels, where both sides agreed to accelerate negotiations for a Free Trade Agreement.
Published: Jan 21 2025, 8 pmeznews.inDhanuka Agritech Ltd is expanding its global footprint through a ₹165 crore acquisition of international marketing and distribution rights for two fungicides, Iprovalicarb and Triadineol, from Bayer AG. This strategic move allows Dhanuka access to over 20 countries across Latin America, Europe, the Middle East, Africa, and Asia. The company aims to enhance its position in the agri-input sector by leveraging Bayer's trusted brands alongside its manufacturing capabilities. Executive Director Harsh Dhanuka highlighted the acquisition as a pivotal moment, targeting an EBITDA margin of 12-15% post-integration and projecting revenue generation to begin in India by Q1 FY26. Iprovalicarb, effective against Oomycetes diseases in horticultural crops, and Triadineol, a seed treatment fungicide, are expected to bolster Dhanuka's market presence, particularly in Brazil, where Triadineol holds a 20-25% market share. The company plans to transition Iprovalicarb production to its Dahej facility within 2-3 years.
Published: Jan 21 2025, 8 pmeznews.inIndia must enhance its manufacturing export capabilities, currently ranking tenth globally despite being the fifth-largest manufacturing nation, according to Nagesh Kumar, Director of the Institute for Studies in Industrial Development (ISID). Speaking at an Exim Bank event in New Delhi, Kumar highlighted the urgent need to address this disparity, especially as global trade growth has slowed significantly since the financial crisis. He urged India to capitalize on the "China-plus-one" strategy, as multinationals seek to diversify supply chains away from China, particularly in sectors like garments, where India holds only a 3.5% share of global exports compared to China's 36%. Kumar also emphasized the potential in food processing and agricultural exports, while Anantha Nageswaran, Chief Economic Advisor to the Finance Ministry, projected that India could reach $1 trillion in annual exports soon, though not within the current fiscal year. He also called for land reforms to facilitate easier acquisition for entrepreneurs.
Published: Jan 21 2025, 8 pmeznews.inIndia's Agriculture Minister Shivaraj Singh Chouhan has reported improved crop coverage and conditions for the current rabi season, with total acreage reaching 640 lakh hectares as of January 17, up from 637.49 lakh hectares last year. Despite rising temperatures in key wheat-growing regions raising concerns, experts suggest that such fluctuations typically do not adversely affect the crop. Chouhan emphasized the importance of collaboration with state governments to address agricultural issues effectively. Current sowing data indicates a 1.38% increase in wheat acreage to 320 lakh hectares, alongside rises in pulses and gram sowing, while oilseed planting has decreased. The weather bureau forecasts isolated rainfall in parts of northern India until January 23, which may benefit crop conditions. Notably, market prices for wheat, rice, and other crops are currently above their Minimum Support Prices, indicating a positive trend for farmers.
Published: Jan 21 2025, 7 pmeznews.inReliance Industries Ltd has signed a Memorandum of Understanding (MoU) with Vadhvan Port Project Ltd (VPPL) to establish a liquid jetty at the forthcoming Vadhvan port in Maharashtra, with an investment of ₹645 crore and allocation of 50 acres under a public-private partnership model. The jetty is expected to be operational by 2030. Additionally, VPPL has partnered with Dr Balasaheb Kokan Krishi Vidyapeeth Dapoli to develop an integrated agricultural plan for local villages. In a separate initiative, Union Minister Sarbananda Sonowal launched a ₹284 crore agro processing facility at Jawaharlal Nehru Port Authority (JNPA), designed to handle 1.2 million tonnes of cargo annually, enhancing trade for Maharashtra and neighboring states. Further MoUs were signed for a warehousing facility with a ₹300 crore investment and the development of a port facilitation centre, alongside plans for a CBSE school within the port area.
Published: Jan 21 2025, 7 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact