eznews.inFarmer unions in India are divided over the recently enacted Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, which replaces the long-standing MGNREGA framework. While some unions welcome provisions like breaks in public works during peak agricultural seasons, others advocate for a more comprehensive approach. They propose that agricultural operations be classified as job work under the new law, enabling MGNREGA-style employment to enhance farm productivity. Abhimanyu Kohar, a leader of the Samyukt Kisan Morcha, highlighted the rising costs of manual harvesting, which have surged due to labour shortages, and argued that linking agricultural work to the new framework could alleviate these issues. However, the Samyukt Kisan Morcha (SKM) has called for a complete rollback of the new legislation, urging the government to restore MGNREGA. As the debate intensifies, the divide among farmer organisations reflects differing priorities regarding agricultural economics and wage security for rural labour. 
Published: Jan 09 2026, 9 pmeznews.inElitecon International Ltd has announced plans to merge its subsidiaries—Golden Cryo Pvt Ltd, Sunbridge Agro Pvt Ltd, and Landsmill Agro Pvt Ltd—into a single entity, pending necessary regulatory approvals. This strategic move aims to streamline the company's diverse business operations, enhancing efficiency, governance, and compliance management while fostering better integration of resources. To facilitate this process, Elitecon has engaged Deloitte Touche Tohmatsu India LLP as its professional advisor, tasked with overseeing the merger's evaluation, structuring, and regulatory compliance. Managing Director Vipin Sharma emphasized that this consolidation is a crucial step in strengthening the company's institutional frameworks and ensuring transparency and accountability. The initiative reflects Elitecon's commitment to robust governance and disciplined execution of its corporate strategies, positioning the company for sustained growth in the competitive FMCG sector.
Published: Jan 09 2026, 9 pmeznews.inSpeaking at the inaugural Bibek Debroy Memorial Lecture, Principal Secretary to the Prime Minister Shaktikanta Das expressed confidence in India's resilience amid global challenges since the COVID-19 pandemic, asserting that the nation is on track to achieve its vision of Viksit Bharat. Das highlighted India's strategic policies as a source of momentum, stating, "India stands today at the cusp of a historic journey – from being an incredible India to a credible India." He acknowledged potential tariff risks, particularly from a proposed US bill imposing steep tariffs on Russian crude imports, yet remained optimistic, citing a projected GDP growth rate of 7.4% for FY26. Emphasizing India's commitment to strategic autonomy, Das outlined a vision of a digitally skilled workforce and robust infrastructure driving future growth. He also noted improvements in fiscal discipline, with the gross fiscal deficit decreasing significantly, which he believes will support sustainable economic policies moving forward.
Published: Jan 09 2026, 9 pmeznews.inUrea availability is expected to improve in January, alleviating farmers' concerns as the closing stock reached 38.79 lakh tonnes (lt) by January 2, surpassing the estimated demand of 32.98 lt for the month. Enhanced supplies will result from increased domestic production and imports, while demand is anticipated to decline with the completion of winter crop sowing. Current stocks include 17.22 lt of di-ammonium phosphate (DAP), 6.14 lt of Muriate of Potash (MOP), 35.33 lt of complex fertilizers, and 18.41 lt of single super phosphate (SSP). The government aims to encourage a shift from DAP and SSP to complex fertilizers to improve soil health and reduce import reliance. Despite a surge in DAP and urea imports, domestic fertilizer production has reached a record high, reflecting the government's commitment to self-reliance and timely nutrient supply for farmers.
Published: Jan 09 2026, 8 pmeznews.inThe Petrapole land port, a crucial trade link between India and Bangladesh, is experiencing a significant decline in truck traffic, with daily entries halving since December. Amid escalating political unrest in Bangladesh, Indian exporters are increasingly hesitant to ship goods, fearing payment uncertainties. Karthik Chakraborty, Secretary of the Petrapole Clearing Agents’ Staff Welfare Association, noted that truck entries have dropped from around 500-550 per day to approximately 250, while Bangladeshi entries have plummeted from 250 to just 70. This downturn is impacting the trucking industry, which relies heavily on trade with Bangladesh, leading to substantial financial losses. Sajal Ghosh, Secretary of the Federation of West Bengal Truck Operators’ Association, highlighted that the situation is exacerbated by difficulties in obtaining insurance for vehicles due to the ongoing political crisis. The decline in trade is also affecting other major land ports in West Bengal.
Published: Jan 09 2026, 8 pmeznews.inIndia has dismissed claims by US Commerce Secretary Howard Lutnick that a trade deal between India and the US failed due to Prime Minister Narendra Modi not contacting President Donald Trump. At a media briefing in New Delhi, MEA spokesperson Randhir Jaiswal labeled Lutnick's assertions as "inaccurate," noting that Modi had spoken to Trump eight times in 2025, and both nations had been engaged in negotiations for a bilateral trade agreement since February 2025. Jaiswal emphasized that discussions had brought the two sides close to a deal on multiple occasions. He also defended India's purchases of Russian oil, citing global market conditions and the need for affordable energy for its population. Meanwhile, ongoing trade tensions have negatively impacted Indian markets, with equities continuing a downward trend into 2026, exacerbated by concerns over potential US tariffs on Russian oil buyers. Jaiswal reiterated India's commitment to a mutually beneficial trade agreement.
Published: Jan 09 2026, 8 pmeznews.inIn a landmark ruling, the Tripura High Court has determined that bona fide purchasers cannot be denied Input Tax Credit (ITC) under Section 16(2)(c) of the CGST Act, 2017, even if their suppliers fail to deposit the Goods and Services Tax (GST) with the government. The court emphasized that valid tax invoices and reasonable precautions taken by the purchaser should suffice to claim ITC, as denying it would violate constitutional rights related to equality and property. The ruling arose from a case involving a petitioner engaged in rubber trading, who faced demands for ITC reversal after the supplier's tax non-compliance was discovered. Legal experts suggest that while this decision offers relief to genuine taxpayers, the matter may ultimately be resolved by the Supreme Court, given conflicting interpretations of the law by various High Courts.
Published: Jan 09 2026, 7 pmeznews.inIn 2025, total assets under management (AUM) in gold exchange-traded funds (ETFs) surged globally, more than doubling to $558.9 billion, with India experiencing an even more remarkable increase, nearly tripling its AUM to $14 billion. According to the World Gold Council (WGC), global demand for gold investments rose by 25%, driven by geopolitical tensions and the US Federal Reserve's interest rate cuts. Indian ETF investments reached $4.37 billion, making it the third highest globally after the US and China. Gold holdings in India rose by 65% to 95 tonnes, while global gold holdings increased by 801 tonnes to 4,025.4 tonnes. Central banks also showed strong demand, with net purchases of 45 tonnes in November alone. As of January 2026, gold prices remained robust, reflecting ongoing investor interest amid market volatility.
Published: Jan 09 2026, 7 pmeznews.inIndia is closely monitoring a proposed US legislation that could impose tariffs of up to 500% on countries purchasing Russian crude oil, a move backed by Senator Lindsey Graham and reportedly approved by President Donald Trump. As major buyers of Russian oil, India and China could be significantly affected. India's External Affairs Ministry emphasized that its procurement of Russian oil is driven by market dynamics and the need to secure energy for its 1.4 billion citizens. Senator Graham stated that the bill aims to penalize nations that continue to buy Russian oil, which he claims funds Russia's military actions in Ukraine. He noted a productive discussion with Trump regarding the bill, which has been in development for months. India's oil imports from Russia surged from 1.7% in 2019-20 to 35.1% in 2024-25, as the country sought discounted oil following Western sanctions on Moscow.
Published: Jan 09 2026, 7 pmeznews.inTexmaco Rail & Engineering Ltd has announced a significant order worth Rs 64 crore from APL Logistics Vascor Automotive for the manufacture and supply of specialised ACT-1 freight wagons and BVCM-type brake vans. This contract underscores Texmaco's commitment to enhancing its presence in the specialised freight rolling stock market, as stated by Managing Director Sudipta Mukherjee. The ACT-1 wagons are specifically designed for the safe transportation of finished automobiles and related cargo, aligning with the growing demand for customised rail logistics solutions that improve safety and operational efficiency. The wagons will be produced in compliance with the latest specifications from the Research Design and Standards Organisation (RDSO), focusing on higher payload efficiency and enhanced cargo safety, which are crucial for the automotive and logistics sectors. This development is expected to support faster turnaround times for high-value freight movement.
Published: Jan 09 2026, 6 pm
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