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A Parliamentary panel has proposed 285 recommendations for the Income Tax Bill-2025, aimed at modernising and simplifying India's tax laws. Chaired by BJP leader Baijayant Panda, the Select Committee of the Lok Sabha is set to present its report on the draft legislation during the Monsoon session, starting Monday. Following the report's submission, the government will review the suggestions and may seek Cabinet approval before advancing the bill for Lok Sabha consideration. The new law, intended to enhance the taxpayer experience by simplifying language and streamlining processes, is scheduled for implementation on April 1, 2026. This legislation will replace the Income Tax Act of 1961, which has undergone 65 amendments and over 4,000 changes since its inception. The government aims to create a more efficient tax framework to better serve citizens and businesses alike. 
Published: Jul 16 2025, 1 pmeznews.inThe Directorate General of Civil Aviation (DGCA) has agreed to reform the medical assessment process for civil pilots, aligning it with International Civil Aviation Organization (ICAO) standards, as concerns over current military-based evaluations were raised by the Airline Pilots’ Association of India (ALPA-India). During a meeting on July 14, ALPA-India sought 'observer status' in Aircraft Accident Investigation Bureau (AAIB) investigations, arguing that independent pilot representation is essential for fair outcomes, a practice common in many jurisdictions. The DGCA has requested supporting documentation from the International Federation of Air Line Pilots’ Associations (IFALPA) and will facilitate further discussions between ALPA-India and AAIB. Additionally, ALPA-India highlighted issues such as weekly rest violations and the misuse of sick leave, prompting the DGCA to convene a meeting with operators for corrective measures. The regulator also agreed to review penalties imposed on pilots for data discrepancies attributed to airlines.
Published: Jul 16 2025, 8 pmeznews.inThe Select Committee has adopted its report on the new Income-Tax Bill, which will now be submitted to the Speaker for government consideration. Key amendments include a redefinition of the powers of Income-Tax authorities regarding evidence production and a refined definition of "associated enterprises." However, the committee opted not to include company secretaries or cost accountants in the definition of "accountant," maintaining that only Chartered Accountants, as per the Chartered Accountants Act of 1949, qualify. The government aims to present a comprehensive Income Tax Bill, 2025, that overhauls the existing framework, addressing issues from digital documentation to international taxation. This legislation seeks to replace the outdated Income-Tax Act of 1961 with a modernized code that reflects current economic and technological realities, promoting clarity and compliance in India's tax system. The Bill is part of the legislative agenda for the Monsoon Session starting July 21.
Published: Jul 16 2025, 9 pmeznews.inUnion Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan announced the launch of the Prime Minister Dhan-Dhaanya Krishi Yojana (PM-DDKY), set to commence in October, with an annual budget of ₹24,000 crore over six years. The initiative aims to enhance agricultural productivity in 100 selected districts, benefiting approximately 1.7 crore farmers. The scheme, part of the 2025-26 Budget proposals, will integrate 36 existing schemes across 11 departments and encourage private sector partnerships. Chouhan emphasized the need for the program, citing disparities in agricultural productivity across states and districts, particularly in rainfed areas. Districts will be chosen based on criteria such as low crop yield and limited agricultural credit. A comprehensive monitoring system involving Niti Aayog and district-level committees will oversee implementation, with a focus on sustainable practices, crop diversification, and improved irrigation facilities.
Published: Jul 16 2025, 8 pmeznews.inThe Swarna Andhra Pradesh 2047 Vision, initiated by the N Chandrababu Naidu-led NDA Government, aims to transform Andhra Pradesh into a $2.4-trillion economy by 2047, with a per capita income of $42,000 and a sustained annual GDP growth of 15%. A special Taskforce on Economic Development, chaired by Naidu and co-chaired by Tata Sons' N Chandrasekaran, emphasizes the need for structural reforms, investor confidence, and fiscal prudence to achieve these ambitious targets. The report highlights the importance of aligning state policies with national objectives and prioritizing sectors such as agriculture, manufacturing, and technology to boost competitiveness. With a coastline of 1,053 km and abundant land, the state is well-positioned to attract investments, particularly in renewable energy and the blue economy. The taskforce includes prominent industry leaders and aims to establish Andhra Pradesh as a global investment hub, contributing significantly to India's economic growth.
Published: Jul 16 2025, 8 pmeznews.inUnion Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan raised concerns about the declining productivity of Bt cotton during the Indian Council of Agricultural Research (ICAR) Foundation Day event. He questioned the effectiveness of Bt cotton, which has been compromised by pink bollworm infestations, and urged ICAR to investigate the reasons behind the drop in cotton production despite the introduction of new varieties. Chouhan emphasized the need for modern technologies and the development of virus-resistant seeds to enhance yields. He also criticized the practice of tagging other products with subsidized fertilizers, calling for a helpline for farmers to report issues. ICAR's director-general M L Jat outlined a 10-point agenda focusing on oilseeds, pulses, and soil protection, while promoting market research and collaboration with private companies. Awards were presented to outstanding scientists for their contributions to agricultural research.
Published: Jul 16 2025, 8 pmeznews.inMalaysia's palm oil sector is projected to face ongoing challenges due to a significant labour shortage, primarily stemming from its reliance on foreign workers, who constitute about 80% of the workforce. BMI forecasts a modest growth of 0.5% in palm oil production for the 2025-26 season, reaching 19.5 million tonnes, following a decline of 1.6% in the previous season. While favourable weather conditions are expected, the sector's output growth is hampered by low local participation and insufficient replanting efforts, with only 2% of the planted area replanted in 2024, far below the target. To enhance production, Malaysia has increased windfall profit levies and revised export duties, but experts suggest more targeted incentives are needed. Meanwhile, over 80% of Malaysian palm oil production is certified for sustainability, positioning the country as a reliable exporter amid rising global demand for sustainably produced commodities.
Published: Jul 16 2025, 6 pmeznews.inThe Indian Coordination Committee of Farmers Movements (ICCFM) has urged the government to exclude agriculture from ongoing trade negotiations with the United States, citing concerns over heavily subsidised US imports that could harm Indian farmers. In a letter to Commerce Minister Piyush Goyal, the ICCFM emphasized that allowing such imports would undermine India's longstanding position at the World Trade Organization (WTO) against agricultural subsidies. The US, which allocates $1.5 trillion for farm subsidies under its 2024 Farm Bill, creates an uneven playing field by enabling its products to enter global markets at artificially low prices. As India and the US negotiate a bilateral trade agreement, with a deadline for an interim pact set for August 1, the ICCFM warned that failure to protect farmers' interests could lead to intensified protests. The committee expressed hope that the government would prioritize farmers' welfare, as it did by withdrawing from the RCEP negotiations.
Published: Jul 16 2025, 7 pmeznews.inIndia's soyabean crushing figures for the oil year ending June 2025 have fallen to 87 lakh tonnes, down from 95.50 lakh tonnes the previous year, primarily due to lower market arrivals, reduced feed segment off-take, and a decline in exports, according to the Soyabean Processors Association of India (SOPA). Carry-forward stocks for the upcoming oil year starting October 2025 are projected at 6.86 lakh tonnes, a 23% decrease from 8.94 lakh tonnes in the current year. Despite a forecasted crop size increase to 125.82 lakh tonnes, crushing is expected to decline to 110 lakh tonnes. Soyameal exports also suffered, dropping to 15.60 lakh tonnes from 17.77 lakh tonnes, as Indian soyameal remains uncompetitive globally. Germany, France, and Nepal were the top buyers during the October-June period, with soyameal offtake from the feed sector decreasing to 46.50 lakh tonnes.
Published: Jul 16 2025, 7 pmeznews.inYara India, a subsidiary of Yara International, has celebrated the graduation of its latest cohort from its Capacity Building Programme, aimed at empowering micro, small, and medium enterprises (MSMEs). This 15-week, MBA-inspired initiative, launched in 2022, focuses on enhancing leadership and business management skills, particularly for youth- and women-led businesses. The programme is transitioning to the Grow X platform, which addresses challenges like access to finance and talent. Notably, the innovative “Plus One” model allowed 96 female relatives of Yara’s channel partners to participate, highlighting the initiative's commitment to diversity. Managing Director Sanjiv Kanwar emphasized the importance of inclusive transformation in agriculture, aligning with national efforts to empower women in the sector. The training received government certification from the National Council for Vocational Education and Training, enhancing the credibility and employability of its 196 graduates, including 100 from the Babrala plant community.
Published: Jul 16 2025, 7 pmeznews.inThe Kerala Co-operative Milk Marketing Federation, known as Milma, has praised the Kerala State Electricity Board's (KSEB) recent decision to classify dairy farms with collection and chilling facilities, as well as primary milk cooperative societies, under the agriculture category in its latest tariff revision. Milma Chairman K S Mani expressed gratitude to Electricity Minister K Krishnankutty, highlighting that this long-standing demand reflects the government's commitment to the dairy sector, a vital part of Kerala's agrarian economy. The April tariff revision shifted these dairy operations from the commercial category, which charged ₹65 per kW, to the more favorable agriculture category at ₹30 per kW. This change benefits dairy farms that collect, chill, and store milk before processing, as well as cooperative societies that aggregate milk from farmers for bulk sales, thereby supporting the growth of the dairy cooperative movement in the state.
Published: Jul 16 2025, 6 pm
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