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The Income Tax department has reported that over six crore income tax returns (ITRs) for Assessment Year 2025-26 have been filed as of Saturday, with the deadline for penalty-free submissions set for September 15. In a message on X, the department expressed gratitude to taxpayers and professionals for reaching this milestone. To facilitate the filing process, the helpdesk is available 24/7, offering support via calls, live chats, WebEx sessions, and Twitter/X. Taxpayers who have yet to file are urged to do so promptly to avoid a last-minute rush. Earlier this year, the due date for ITR submissions was extended from July 31 to September 15 due to necessary revisions in the ITR forms. The trend in ITR filings has shown consistent growth, with a record 7.28 crore returns filed for AY 2024-25, reflecting increased compliance and an expanding tax base. 
Published: Sep 13 2025, 2 pmeznews.inGujarat, responsible for over 50% of India's groundnut production, is set to achieve a record-high yield of 66 lakh tonnes this year, a 26% increase from last year's 52.20 lakh tonnes, according to state government estimates. During the current Kharif season, groundnut has been sown across 22 lakh hectares, marking a 15% rise from the previous year. However, concerns loom as heavy rains have flooded parts of North Gujarat, impacting farmers in districts like Banaskantha, Patan, and Kutch, where significant crop losses have been reported. Sagar Rabari, head of Khedut Samaj, highlighted the uncertainty surrounding the anticipated bumper harvest due to these adverse conditions. The state government, which previously purchased 12.22 lakh tonnes of groundnut at a cost of ₹8,295 crore from 3.67 lakh farmers, plans to continue similar purchases this year, extending the registration deadline for farmers to sell their Kharif crops on Minimum Support Price (MSP) until September 22.
Published: Sep 13 2025, 5 pmeznews.inIn New Delhi on September 12, Union Minister Piyush Goyal met with European Union Trade Commissioner Maroš Šefčovič to advance discussions on the Free Trade Agreement (FTA) between India and the EU. Goyal emphasized the commitment of both parties to establish a balanced and mutually beneficial agreement, which he believes will unlock significant opportunities for both sides. The meeting coincided with the 13th round of negotiations, attended by EU Agriculture Commissioner Christophe Hansen, aimed at revitalizing the ongoing talks. Goyal expressed gratitude for the visit and reiterated the importance of continued dialogue to achieve a successful FTA. The discussions reflect a shared ambition to enhance trade relations and economic cooperation between India and the European Union.
Published: Sep 13 2025, 4 pmeznews.inIndia's retail inflation saw a modest increase in August 2025, rising to 2.07% year-on-year from 1.61% in July, according to official data. Despite this uptick, economists believe the rise is temporary and will not disrupt overall price stability, aided by recent GST reforms. The Reserve Bank of India (RBI) maintained its benchmark repo rate at 6.5% for the eleventh consecutive time, with inflation forecasts for 2025-26 revised down from 4% to 3.7%. Analysts from S&P Global and CareEdge expect inflation to remain controlled, with food prices stabilizing due to healthy agricultural conditions. The PHD Chamber of Commerce anticipates further declines in CPI inflation, attributing this to the GST reforms, which are expected to lower production costs and stimulate consumption. The next CPI inflation data will be released on October 13, 2025.
Published: Sep 13 2025, 4 pmeznews.inThe Central Bureau of Investigation (CBI) has arrested three officers from the Military Engineer Services (MES) in Sagar, Madhya Pradesh, for allegedly accepting an ₹80,000 bribe from a contractor. The officers, identified as Garrison Engineer Nitesh Kumar Singh, Assistant Garrison Engineer Rakesh Sahu, and Junior Engineer Deepak, along with middleman Rajesh Mishra, were caught red-handed after the contractor filed a complaint. Initially, the officers demanded ₹1 lakh, or 2% of the contract value, for site access related to government repair and maintenance work, but this was negotiated down to ₹80,000. This incident is part of a broader investigation initiated in July 2023, which uncovered five cases against MES officials in Jabalpur for awarding 59 non-viable contracts, allegedly resulting in a ₹16.24 crore loss to the government. Searches in multiple cities have yielded further evidence of corruption.
Published: Sep 13 2025, 4 pmeznews.inIn its latest report, Crisil has revised its projection for headline inflation in India for the financial year 2025-26 to 3.2%, down from a previous estimate of 3.5%. This moderation, reflecting a decline of 140 basis points in Consumer Price Index (CPI) inflation, is expected to create room for monetary easing, with the Reserve Bank of India (RBI) likely to cut interest rates by an additional 25 basis points. Crisil noted that lower inflation and reduced interest rates could bolster domestic demand amid global economic challenges. However, the report also highlighted risks posed by excessive rainfall during the kharif season, particularly in regions like Punjab, which is experiencing severe flooding. CPI inflation rose to 2.1% in August 2025, surpassing the RBI's tolerance threshold of 2%, while food inflation has begun to increase but remains below overall inflation levels.
Published: Sep 13 2025, 3 pmeznews.inThe Federation of Indian Mineral Industries (FIMI) has urged the Indian government to refrain from imposing export duties on low-grade iron ore, warning that such a move could lead to resource wastage, job losses, and environmental harm due to stockpiling of unusable fines at mining sites. In a letter to Commerce and Industry Minister Piyush Goyal, FIMI emphasized the need for effective utilization of low-grade ore to support the domestic steel industry, which primarily requires high-grade iron ore. With limited domestic demand for low-grade fines, much of this material remains stranded, posing environmental challenges and hindering sustainable mining practices. FIMI highlighted that only 25-30% of mined output is usable lumps, while the rest consists of fines, which cannot be utilized domestically. The organization noted that India's iron ore production is on the rise, with a projected surplus of 35 million tonnes by 2025-26, underscoring the potential benefits of exporting low-grade fines.
Published: Sep 13 2025, 3 pmeznews.inConstruction of the Bhogapuram International Airport in Andhra Pradesh's Vizianagaram district is advancing rapidly, with approximately 86% of the project completed, according to Union Minister for Civil Aviation, Rammohan Naidu. After a site review on Saturday, Naidu announced that the airport is expected to become operational by 2026. To enhance accessibility, a road connecting the port city of Visakhapatnam to the airport will be developed through seven points, with completion anticipated by April next year. Additionally, the feasibility of an elevated expressway is under consideration. Naidu praised the GMR Group for its commitment to maintaining construction momentum, noting that work has continued uninterrupted, even during adverse weather conditions. The project is set to significantly improve regional connectivity and bolster economic growth in the area.
Published: Sep 13 2025, 3 pmeznews.inThe National Pharmaceutical Pricing Authority (NPPA) has mandated that pharmaceutical and medical device manufacturers revise their Maximum Retail Prices (MRP) to reflect reduced Goods and Services Tax (GST) rates, effective September 22, 2025. The NPPA's directive aims to ensure that the benefits of the GST reduction are passed on to consumers, with companies required to issue updated price lists to dealers, retailers, state drug controllers, and the government. Manufacturers are also urged to communicate these changes through various media channels to inform stakeholders. The recent decision by the 56th GST Council has lowered GST rates on key medications from 5% to zero, while those previously taxed at 12% will now be taxed at 5%. Notably, re-labeling of existing stock is not mandatory if compliance can be ensured at the retail level.
Published: Sep 13 2025, 1 pmeznews.inIndia's agricultural sector is experiencing a wave of innovation, with new agritech tools like precision drones and digital advisory platforms promising to enhance efficiency and farmer incomes. However, smallholder farmers face significant barriers to adopting these technologies, primarily due to limited capital, thin profit margins, and inconsistent access to essential inputs and markets. A recent study by Villgro highlights that successful adoption requires a supportive system that links timely advice with resources and action. Farmer Producer Organisations (FPOs) play a crucial role in this ecosystem by consolidating demand, reducing service costs, and coordinating collective actions, enabling farmers to implement recommendations effectively. For instance, timely pest alerts led to immediate action among farmers, but many still struggled with input availability. Ultimately, FPOs are essential for transforming agritech innovations into practical solutions, ensuring that smallholders can leverage these advancements to improve their livelihoods sustainably.
Published: Sep 13 2025, 11 am
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