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A Parliamentary Committee is set to convene on Wednesday to adopt a report on the new Income Tax Bill, which the government plans to consider and pass during the Monsoon Session from July 21 to August 21. Chaired by BJP MP Baijayant Panda, the Select Committee will review the Draft Report on the Income Tax Bill, 2025, which aims to simplify tax language, eliminate redundancies, and enhance the taxpayer experience. The proposed legislation, intended to replace the Income Tax Act of 1961, is designed to reduce its length by nearly half and streamline provisions for easier understanding. Notably, the new Bill will replace the concepts of 'previous year' and 'assessment year' with a single 'tax year.' Following the Committee's report, the government will consider recommendations before seeking Cabinet approval for discussion in the Lok Sabha. The new law is expected to take effect from April 1, 2026. 
Published: Jul 15 2025, 9 ameznews.inThe UK Civil Aviation Authority (CAA) has confirmed that it has found no technical issues with Boeing aircraft, despite ongoing investigations into a June accident involving an Air India Boeing 787 in Ahmedabad. While regulators in India, South Korea, and Singapore have mandated inspections of fuel switches in Boeing fleets following a safety bulletin from the US Federal Aviation Administration, the UK CAA has opted not to impose any additional checks on UK operators, including British Airways and Virgin Atlantic, which operate Boeing 787s. The CAA stated that it does not have any technical concerns regarding Boeing products and clarified that its recent safety notice, originally issued in 2015 and updated in May, was merely to revise a contact email address. The agency's reassurances come amid heightened scrutiny of Boeing aircraft safety following the preliminary investigation report into the Air India incident.
Published: Jul 15 2025, 7 pmeznews.inIndia's maize imports surged to a record 970,000 tonnes in the financial year 2024-25, a dramatic increase from 137,000 tonnes in 2023-24, marking the country as a net importer of the cereal. This shift is attributed to rising demand from livestock feed, starch, and ethanol sectors, despite domestic maize production reaching a record 42.28 million tonnes. Exports plummeted by 61% to 556,000 tonnes, down from 1.44 million tonnes the previous year, with export values dropping from $1.11 billion to just $201 million. The increase in imports exceeded trade estimates of 770,000 tonnes, driven by a government push for maize-based ethanol production amid drought concerns affecting sugarcane. Agriculture Minister Shivraj Singh noted the potential to double maize production to 86 million tonnes by 2047, as farmers expand maize acreage in response to growing demand.
Published: Jul 15 2025, 8 pmeznews.inThe Sai Subhiksha Kisan Health Card, aimed at providing free healthcare services to farmers, was launched at Sathya Sai Grama in Muddenahalli, Chikkaballapur district. The initiative, unveiled during the event "Seeding the Future – Together with the Farmers," is a collaboration between the Sri Madhusudan Sai Institute of Medical Sciences and Research and the Subhiksha Organic Farmers Multi-State Co-Operative Society Ltd. The institute will offer complimentary healthcare services to farmers at its facility. The event celebrated the vital role of farmers in nation-building, with over 1,500 participants, primarily engaged in cultivating ragi, attending to honor their dedication. Sathya Sai Grama, known for its One World One Family Mission, hosted the event to recognize the unwavering commitment of farmers to sustainable agriculture and community welfare.
Published: Jul 15 2025, 8 pmeznews.inJammu and Kashmir is set to integrate small and nano businesses into the national digital marketplace via the Open Network for Digital Commerce (ONDC), a tech initiative launched by the Ministry of Commerce in April 2022. Chief Secretary Atal Dulloo convened a meeting with ONDC officials to discuss expanding e-commerce in the region, emphasizing the need to onboard local service providers like electricians and plumbers. He urged the Labour & Employment Department to implement a hyper-local delivery system to bolster small enterprises, aiming to enhance digital inclusion and empower grassroots entrepreneurs. Local traders welcomed the initiative but stressed the importance of effective management and supply chain optimization. Muheet Mehraj, a young entrepreneur, highlighted that while ONDC could enhance product visibility, the industry must take responsibility for inventory management. Qazi Touseef from the Kashmir Economic Alliance noted that the region's products require global accreditation and called for serious commitment from both businesses and the government to ensure successful implementation.
Published: Jul 15 2025, 7 pmeznews.inIndia's trade deficit narrowed to $18.78 billion in June 2025, a 6.2% decrease from $20.03 billion in June 2024, marking a four-month low. This decline was attributed to a 3.71% drop in imports, which fell to $53.92 billion, driven by reduced purchases of crude oil and gold. Meanwhile, goods exports remained flat at $35.14 billion year-on-year, impacted by weaker performance in the petroleum and gems & jewellery sectors. In the first quarter of 2025-26, total goods and services exports rose by 6% to $210 billion, with notable increases in electronic goods, engineering products, and pharmaceuticals. The US, UAE, Netherlands, China, and the UK were the top export destinations, while China continued to be the largest source of imports. The Federation of Indian Export Organisations urged the government to enhance its sector-focused export strategy, particularly in services, to leverage India's digital capabilities.
Published: Jul 15 2025, 7 pmeznews.inIndia has experienced 143.5 mm of rainfall from July 1-15, surpassing the long period average (LPA) by 11.3%, contributing to a total seasonal rainfall that is 10% above normal since June 1. However, 258 out of 729 districts are reporting deficient rainfall, particularly in the east and north-east regions, which are 30% below normal. The Central region has seen a significant surplus of 44.5%, while the north-west region recorded a 26.3% increase. Despite the overall positive rainfall figures, concerns arise as excessive rain could negatively impact crops like pulses and oilseeds. The government aims for a foodgrain production target of 168.88 million tonnes for Kharif 2025, with July being critical for sowing. The India Meteorological Department forecasts July rainfall to exceed the 50-year average of 280.4 mm, indicating a potentially fruitful but challenging agricultural season ahead.
Published: Jul 15 2025, 7 pmeznews.inThe European Centre for Medium-Range Weather Forecasts has indicated that heavy rains in North-West and East India may ease by July 23, with precipitation expected to be confined to the Himalayan foothills and the East and West Coasts. This follows a period of intense monsoon activity, driven by two well-marked low-pressure systems that have affected the region. The India Meteorological Department (IMD) reported that a depression over north Rajasthan is moving west-northwest and is expected to cross into Pakistan in the coming days, while another system over Jharkhand is weakening. Heavy rainfall is forecast across various states, including Jammu and Kashmir, East Rajasthan, and parts of South India. Despite ongoing rainfall, significant deficits remain in the East and South, with Bihar experiencing a 55% shortfall. The IMD anticipates a shift to more isolated rainfall patterns in North-West India next week.
Published: Jul 15 2025, 6 pmeznews.inMaharashtra Chief Minister Devendra Fadnavis convened a meeting with senior officials on Saturday to assess the progress of the Navi Mumbai International Airport, which is set to open on September 30. Initially, the airport will operate for 12 hours daily, from 8 am to 8 pm, to test its systems before transitioning to full operations with domestic flights in October. Currently, IndiGo and Akasa Air have confirmed plans to commence flights, while discussions with other carriers are ongoing. The airport is designed to handle approximately 20 million passengers annually, with an initial capacity of 8-10 air traffic movements per hour. Fadnavis noted that 94% of construction is complete and emphasized the need for a rapid baggage claim system. Operational readiness trials are underway, with inspections by the Bureau of Civil Aviation Security and the Directorate General of Civil Aviation pending for aerodrome licensing.
Published: Jul 15 2025, 6 pmeznews.inThe unemployment rate in the country remained steady at 5.6% in June, according to the Statistics Ministry. While rural areas saw a decline in unemployment for both men and women, urban areas experienced a rise in male unemployment, with female rates unchanged. This shift is attributed to an increase in own-account work, driven by seasonal factors, leading individuals to pursue small-scale activities such as petty trade and repair services. The Labour Force Participation Rate (LFPR) fell slightly to 54.2%, with rural areas at 56.1% and urban areas at 50.4%. Notably, the Worker Population Ratio (WPR) also decreased, particularly among rural females, where participation dropped over one percentage point due to a shift of unpaid helpers to domestic duties. Additionally, the proportion of rural women working in agriculture decreased from 70.2% to 69.8%, reflecting changing economic conditions.
Published: Jul 15 2025, 6 pmeznews.inThe VOC Port Authority in Thoothukudi has announced plans to construct a five-star beach resort near its guest house, inviting bids for the project that will occupy port land for 30 years. This initiative aims to accommodate executives from the burgeoning industries in the area, which include a large electric vehicle factory by Vietnam's VinFast, set to inaugurate this month. With over ₹41,000 crore worth of projects in the pipeline, including significant investments from ACME Green Hydrogen and Tata Solar, the demand for upscale accommodation has surged. Current hotel options in Thoothukudi town are limited, prompting the need for a luxury resort closer to the port. The region is also seeing the development of various industries, such as shipbuilding and renewable energy, further highlighting the necessity for enhanced hospitality services to support the growing workforce.
Published: Jul 15 2025, 5 pm
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