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India aims to reduce rice cultivation by 5 million hectares while increasing production by 10 million tonnes to boost oilseed and pulse farming, as announced by Union Agriculture Minister Shivraj Singh Chouhan during the launch of two genome-edited rice varieties by the Indian Council of Agricultural Research (ICAR) in New Delhi. The "-5,+10" plan is part of a broader strategy to achieve self-sufficiency in these crops, with Chouhan emphasizing the role of agricultural scientists in this initiative. While the Minister refrained from commenting on genetically modified crops due to ongoing legal matters, he clarified that genome editing differs as it does not involve foreign gene insertion. ICAR's director general highlighted the potential for increased yields by targeting low-performing areas, and the organization is shifting towards demand-driven research, integrating farmer feedback into its development processes. 
Published: May 04 2025, 6 pmeznews.inDirect Benefit Transfers (DBT) in India have seen a significant decline, dropping to ₹6.77 lakh crore in FY24-25, the lowest in three years, despite an increase in beneficiaries from 166 crore in FY23 to 185.6 crore in FY25. Government officials attribute this decrease to the restructuring of schemes and improved subsidy utilization, rather than cuts to welfare programs. Key DBT schemes include the Rural Employment Guarantee Scheme and the public distribution system, with cash transfers facilitated through the JAM (Jan Dhan, Aadhaar, Mobile) framework. A report by the BlueKraft Digital Foundation highlights that subsidy allocations fell from 16% to 9% of total government expenditure since DBT's inception in 2013, saving over ₹3.48 lakh crore by eliminating fraud and targeting genuine recipients. The system has garnered international praise for its efficiency, with the IMF and World Bank advocating for similar models globally.
Published: May 04 2025, 10 pmeznews.inIn 2024, Apple Inc. sold 12 million iPhones in India, according to IDC data, as the company ramps up production in the country. However, Qualcomm, a key semiconductor supplier, indicated that this expansion will have minimal impact on its Indian operations, with only 1% of Apple's devices manufactured in India being sold domestically. Vinosh James, Qualcomm's Director of Technical Standards, noted that the majority of iPhones produced in India are destined for export, primarily to the US market. Apple CEO Tim Cook confirmed that a significant portion of iPhones sold in the US will be sourced from India. Despite the potential benefits for Apple’s partners, Qualcomm remains cautious, emphasizing its diverse customer base and downplaying the significance of its relationship with Apple. Additionally, Apple is reportedly developing its own app processor, which could further reduce its reliance on Qualcomm technology.
Published: May 04 2025, 8 pmeznews.inThe Indian government has taken steps to address the challenges faced by the airline industry following Pakistan's closure of its airspace, which is crucial for westbound flights from northern cities like Delhi. The Ministry of Civil Aviation (MoCA) has established a committee, including airline representatives, to assess potential losses and recommend mitigation strategies. Airlines have reported significant impacts, with Air India estimating a potential loss of $600 million if the closure persists for a year. In response, the government has urged airlines to conduct a thorough assessment of affected routes and explore alternative paths, such as over Chinese airspace. Additionally, the Directorate General of Civil Aviation has relaxed crew rest guidelines for ultra-long-haul flights to provide some relief. To enhance passenger experience amid these disruptions, the Centre has instructed airlines to improve amenities and handling protocols immediately.
Published: May 04 2025, 8 pmeznews.inThe ro-pax ferry service between Ghogha and Hazira, launched in 2017 as part of Gujarat's ambitious project to connect rural Saurashtra with Surat, has transported 4.5 lakh vehicles and 12.59 lakh passengers to date. Despite achieving 55% passenger and 87% cargo capacity utilization, the service is facing significant financial challenges, with a reported net loss of ₹325 crore. Chetan Contractor, Chairman of Indigo Seaways, which operates the service, highlighted the burden of ₹242 crore in unsecured loans and unrecouped terminal operation costs of ₹90 crore. The project, initially envisioned in 1995, has struggled with operational issues, including breakdowns and siltation at terminals. To remain viable, Contractor has sought government support, arguing that the ferry service cannot compete with subsidized road and rail transport. The service, which reduces travel distance by 400 km, has set ticket prices at half the actual cost to attract more passengers.
Published: May 04 2025, 7 pmeznews.inTitagarh Rail Systems has received approval to establish a new shipyard in Kolkata for the construction of warships, marking a strategic shift towards expanding its shipbuilding operations. The company, which has been involved in small-scale shipbuilding for nearly a decade, plans to invest significantly in this sector, aiming to enhance its revenue contribution beyond the low single-digit share it currently holds. Deputy Managing Director Prithish Chowdhary highlighted the need for a greenfield site due to geographical constraints at the existing yard, with potential locations being explored in West Bengal, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat. The new shipyard will focus on both naval and commercial vessels, building on past projects like fast patrol vessels and passenger ferries. Additionally, the company is developing safety and signalling systems for Indian Railways, leveraging its joint venture with Italy’s MERMEC to enhance railway safety.
Published: May 04 2025, 7 pmeznews.inThe Income Tax Department has recovered ₹1,400 crore from 63,000 donors who evaded taxes by donating to registered unrecognised political parties (RUPPs) between 2022 and 2024. RUPPs, which fail to meet the vote threshold for state or national party status, and their donors benefit from tax exemptions. A report revealed that over 3,264 RUPPs received more than ₹10,000 crore in donations during this period, with many allegedly facilitating money laundering. Following intelligence-led investigations, the department initiated a 'nudging exercise' to encourage compliance, resulting in over ₹1,000 crore in deductions being withdrawn by donors. Those who missed the deadline paid an additional ₹400 crore in penalties. Despite RUPPs declaring only ₹4,858 crore of the ₹10,975 crore claimed in tax exemptions, a significant portion of funds appears to have been diverted for non-electoral purposes, raising concerns about the integrity of electoral funding in India.
Published: May 04 2025, 7 pmeznews.inIndian exporters are urging the government to negotiate relaxed rules of origin (ROO) in the upcoming India-US bilateral trade agreement (BTA) to leverage opportunities arising from the US-China tariff war. They seek to facilitate the export of products like garments and machinery, which may include components manufactured in China, by easing the criteria for value addition. The Commerce Department has advised caution, emphasizing adherence to existing non-preferential ROO, which requires either complete domestic production or substantial transformation of imported inputs. Industry representatives have highlighted the need for clear and objective value addition norms to avoid penalties from US authorities. With China facing high tariffs, Indian exporters see a significant opportunity to capture market share, but they stress the urgency of establishing these rules to prepare for potential demand. The US currently imposes a 10% baseline duty on imports, while Chinese goods face an average tariff of 124%.
Published: May 04 2025, 7 pmeznews.inIndia's Steel Ministry is closely monitoring the effects of a newly imposed 12% safeguard duty on steel imports from China and Vietnam, aimed at shielding domestic producers from a surge in low-cost imports. Union Minister for Steel and Heavy Industries, HD Kumaraswamy, emphasized that this temporary measure is crucial for preventing "serious injury" to the local industry, allowing it to compete fairly. The government has also introduced anti-dumping duties on select imports from South Korea, Japan, and Singapore. As part of ongoing trade negotiations with the US, India aims to enhance bilateral trade, targeting $500 billion by 2030. Steel demand is projected to grow by 11-12% in FY26, driven by infrastructure projects and urbanization. To address coking coal dependency, India is diversifying import sources and encouraging public sector undertakings to acquire mining assets abroad, while also prioritizing greener steel production in line with global decarbonization goals.
Published: May 04 2025, 6 pmeznews.inIn a bid to reduce operational costs for pilot training schools, the Indian government plans to make hull insurance optional for trainer aircraft, responding to rising insurance premiums linked to recent accidents. Currently, the Directorate General of Civil Aviation (DGCA) mandates insurance covering hull loss, alongside coverage for instructors and trainees. The Association of Flight Training Organisations (AFTO) has welcomed this proposed amendment, suggesting it could lower training costs and attract more students. In 2024, the DGCA issued 1,342 commercial pilot licences, a significant drop from the previous year, largely due to a shortage of flight instructors. The DGCA is also considering easing licensing requirements, such as removing the need for Class XII physics and mathematics. With India's aviation sector projected to require 20,000 new pilots, the government is exploring technological solutions to streamline training and licensing processes.
Published: May 04 2025, 6 pm
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