eznews.inThe Kerala Co-operative Milk Marketing Federation (KCMMF), popularly known as Milma, has announced new initiatives aimed at boosting milk production and supporting dairy farmers during its 52nd Annual General Body Meeting in Thiruvananthapuram. Chairperson K S Mani emphasized the federation's commitment to maintaining subsidies and welfare measures for farmers while ensuring high-quality dairy products for consumers. Despite a reported 35% decline in cattle population, Milma's procurement of milk from its three regional unions increased by 13.91% from April to August 2025. The meeting also approved a budget projecting revenues of Rs 597.97 crore and a capital budget of Rs 67.33 crore for the upcoming year, reflecting Milma's strategic focus on enhancing its competitive edge in the market and empowering local milk societies. 
Published: Sep 17 2025, 8 ameznews.inThe International Bamboo Summit, set to take place in Mumbai on September 18-19, aims to highlight the potential of bamboo in sustainable development. Jointly organized by the Phoenix Foundation and Maharashtra's MITRA, the event will gather farmers, policymakers, entrepreneurs, and global experts to discuss bamboo's role in various industries, including ethanol, methanol, furniture, and textiles. Maharashtra Chief Minister Devendra Fadnavis, along with Deputy CMs Ajit Pawar and Eknath Shinde, will attend the summit, which coincides with International Bamboo Day. Pasha Patel, Chairman of the State Agricultural Price Commission, emphasized bamboo's environmental benefits, such as carbon sequestration and biofuel production. The summit will also feature discussions on urban forestry and green infrastructure, culminating in the signing of Memoranda of Understanding worth ₹20,000 crore on the second day, marking Maharashtra as the first state to host such an event.
Published: Sep 17 2025, 8 ameznews.inIn a move aimed at enhancing retirement benefits for central government employees, the Indian government has introduced a one-time option for those who joined between April 1 and August 31, 2025, to switch from the National Pension System (NPS) to the newly established Unified Pension Scheme (UPS). This initiative, announced by the finance ministry, allows employees to make an informed choice regarding their post-retirement financial security, with the deadline for opting into UPS set for September 30, 2025. The UPS, which offers assured payouts, is available to approximately 2.3 million employees currently under NPS, which has been in effect since January 1, 2004. Unlike the old pension scheme, which guaranteed 50% of the last drawn salary, UPS is contributory, requiring employees to contribute 10% of their basic salary, while the government contributes 18.5%. The initiative reflects the government's effort to balance market-linked benefits with guaranteed returns.
Published: Sep 17 2025, 7 ameznews.inDreamFolks Services Ltd., India's largest airport services aggregator, has announced the discontinuation of domestic airport lounge access for customers, effective Monday. This decision, communicated via a stock exchange notification, is expected to significantly impact the company's operations. While DreamFolks will continue to offer other domestic services and its global lounge business, it confirmed that discussions with clients regarding alternative value propositions are ongoing. The company, which has been operational since 2013, previously facilitated lounge access for credit card holders through partnerships with banks, airlines, and lounge operators. However, recent moves by lounge operators, including Travel Food Services Limited and Adani Group, to establish direct agreements with banks have pressured DreamFolks' business model. Adani Group has stated that this shift will not affect passengers, as cardholders will retain lounge access unless banks alter their terms.
Published: Sep 16 2025, 11 pmeznews.inThe Indian government's draft 'Civil Drone (Promotion and Regulation) Bill, 2025', released on Tuesday, aims to overhaul the existing 'Drone Rules of 2021' by introducing mandatory registration, safety features, and insurance for unmanned aircraft systems. The Bill retains the Digital Sky zoning system, categorizing airspace into green, yellow, and red zones, with operations in green zones permitted freely, while yellow zones require air traffic control clearance. The Directorate General of Civil Aviation (DGCA) will continue as the primary regulatory authority, mandating that all drones must have a Unique Identification Number (UIN) and type certification. Additionally, the draft includes provisions for compulsory third-party insurance for operators and establishes a compensation mechanism for victims of drone accidents, with specified amounts for death and grievous injury. Violations in restricted airspace are classified as cognizable offences, potentially leading to three years' imprisonment or fines up to ₹1 lakh. Stakeholders are invited to comment on the draft by September 30, 2025.
Published: Sep 16 2025, 11 pmeznews.inTrade negotiations between India and the US, led by chief negotiators Brendan Lynch and Rajesh Agarwal, resumed with "positive and forward-looking" discussions aimed at revitalizing the stalled bilateral trade agreement (BTA). Following a day of talks, the teams agreed to continue virtual discussions to address contentious issues, including India's agricultural red lines and the US's penalty tariffs related to Russian oil purchases. The last round of negotiations, held in July, failed to yield a mini-deal, primarily due to India's resistance to US demands on market access for sensitive agricultural products and steep duty cuts in the automotive sector. The US has imposed a total of 50% tariffs on Indian goods, with officials asserting that these penalties are linked to India's oil purchases from Russia. As tensions persist, US Commerce Secretary Howard Lutnick criticized India's stance on agricultural imports, highlighting ongoing challenges in reaching a mutually beneficial agreement.
Published: Sep 16 2025, 9 pmeznews.inFertilizer availability dominated discussions at the annual Rabi conference, with states urging the government to ensure sufficient supplies for the upcoming winter sowing season starting in October. Agriculture Minister Shivraj Singh Chouhan confirmed that seed availability exceeds demand, with 25 million tonnes available against a requirement of 22.9 million tonnes. However, he withheld specific fertilizer demand figures, citing ongoing discussions with states. The Centre has set a foodgrain production target of 171.14 million tonnes for the Rabi season, including 119 million tonnes of wheat. Concerns over fertilizer shortages were raised by Uttar Pradesh's Agriculture Minister Surya Pratap Shahi, who suggested increasing urea prices to stabilize the market. Meanwhile, Karnataka and Telangana called for the procurement of Kharif pulses and oilseeds to be streamlined. The Viksit Krishi Sankalp Abhiyan, aimed at reaching millions of farmers, will commence on October 3.
Published: Sep 16 2025, 9 pmeznews.inThe Central Board of Indirect Taxes and Customs (CBIC) has announced that insurance companies will not be able to claim Input Tax Credit (ITC) on commissions or brokerages related to individual health and life insurance policies. This decision follows a recommendation from the GST Council to exempt individual and family floater health and life insurance services from GST. Consequently, insurers will need to reverse ITC on other inputs and services, as these output services are now exempt. Additionally, hotels charging less than ₹7,500 per room per day will be required to apply a mandatory GST rate of 5% without ITC. The board clarified that service providers must not claim ITC on goods or services used exclusively for these exempt services. Furthermore, e-commerce operators will be liable for GST on local delivery services if the supplier is not registered, while leasing services will continue to be taxed at rates applicable to similar goods.
Published: Sep 16 2025, 8 pmeznews.inGems and jewellery exports from India rose by 5% last month to $2.12 billion, reflecting a 10% increase in rupee terms to ₹18,529 crore, according to the Gems and Jewellery Export Promotion Council. This surge is attributed to exporters rushing to meet orders before the anticipated punitive tariffs from the US, alongside positive influences from Free Trade Agreements like the India-UAE CEPA and reduced import duties on raw materials. However, exports of cut and polished diamonds fell by 6% to $972 million, impacted by sluggish luxury spending in the US and Europe, as well as rising demand for lab-grown diamonds. Despite a slight increase in overall gross imports to $1.47 billion, imports of cut and polished diamonds dropped by 4%. In contrast, gold jewellery shipments soared by 63% to $419 million, driven by strong demand in West Asia and the US, particularly for wedding purchases.
Published: Sep 16 2025, 8 pmeznews.inBudget airline SpiceJet is set to expand its network to Vietnam and various Middle Eastern destinations, following the induction of 18 new Boeing 737 aircraft. The airline has approached regulators for permission to launch both domestic and international flights in the upcoming winter schedule, with plans to restart operations to Sharjah and increase frequencies to Jeddah. Additionally, SpiceJet aims to lease A340 aircraft for high-traffic international routes. The new aircraft are expected to join the fleet starting October 2025, coinciding with rising travel demand during the festive season. SpiceJet recently secured an $89.5 million liquidity boost through a settlement with Carlyle Aviation Partners, which includes cash maintenance reserves and credits to help offset lease obligations. Despite a net loss of ₹238 crore in Q1 2025-26, the airline is working to bring grounded aircraft back into service. Currently, only 21 of its 53 aircraft are operational.
Published: Sep 16 2025, 8 pm
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