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As political tensions escalate over the legacy of Mughal ruler Aurangzeb in Maharashtra, the ongoing agrarian crisis in the drought-stricken regions of Marathwada and Vidarbha remains largely overlooked. Farmers across the state recently observed a day-long fast in memory of Sahebrao Karpe, the first officially recorded farmer suicide in 1986, highlighting the persistent despair faced by agricultural communities. The recent suicide of Kailas Nagre, an award-winning farmer who struggled with water scarcity, underscores the dire situation; despite his efforts to advocate for irrigation, his pleas went unanswered. With over 11,000 farmer suicides recorded between 2021 and 2024, the crisis is particularly acute in Chhatrapati Sambhajinagar and Amravati. Yet, political discourse remains fixated on historical controversies rather than addressing the urgent needs of farmers, raising concerns about the indifference of the political establishment to the ongoing suffering in rural Maharashtra. 
Published: Mar 19 2025, 10 pmeznews.inThe White House has reaffirmed its intention to impose reciprocal tariffs on imports from India starting April 2, despite earlier comments from Treasury Secretary Scott Bessent suggesting potential negotiation time. India is grappling with uncertainty over whether these tariffs will be uniform across all products or vary by category, complicating its strategic response. Key sectors such as pharmaceuticals, gems and jewellery, and agriculture could face significant impacts, depending on how the US calculates the tariffs. Currently, the US applies an average tariff of 3.3%, while India's is over 17%. As both nations negotiate a bilateral trade agreement, India hopes to alleviate US concerns over tariff disparities and its $36 billion trade deficit with the US. The first phase of this agreement is expected to be implemented by fall 2025, with specific products like cars and agricultural items identified for tariff discussions.
Published: Mar 19 2025, 9 pmeznews.inThe Indian government is set to implement new, measurable quality service benchmarks for airport tariffs, responding to increasing demands for accountability amid a surge in air traffic. Currently, the tariff system incorporates subjective service standards, which are deemed insufficiently measurable. The proposed changes aim to enhance operational efficiency and passenger convenience by linking tariffs to objective performance metrics, such as baggage handling speed and queuing times. This initiative, overseen by the Airport Economic Regulatory Authority (AERA), will apply to all airports nationwide and includes provisions for penalties if operators fail to meet established service benchmarks. As passenger numbers surpass pre-pandemic levels, industry experts suggest that this shift could reveal long-standing inefficiencies, although airport operators express concerns over potential impacts on profit margins in a competitive market. AERA, established in 2009, will continue to review and adjust tariffs every five years based on stakeholder consultations and operational costs.
Published: Mar 19 2025, 9 pmeznews.inA meeting between a Central government team and 28 farmer leaders in Chandigarh on March 19 ended inconclusively, primarily focusing on the farmers' demand for a legally enforced minimum support price (MSP). Union ministers Shivraj Singh Chouhan, Pralhad Joshi, and Piyush Goyal sought time for inter-ministerial consultations, with a follow-up meeting scheduled for May 4. Chouhan assured farmers that the government would resist US pressure to lower import duties on agricultural products. Meanwhile, tensions escalated as Punjab Police detained several farmer leaders en route to protest sites along the Punjab-Haryana border, where heavy barricading was reported. The farmers, led by the Samyukta Kisan Morcha and Kisan Mazdoor Morcha, are also advocating for a debt waiver, pensions for agricultural workers, and justice for victims of past protests. The government plans to consult various stakeholders, including farmer producer organizations, to explore options for enforcing the MSP.
Published: Mar 19 2025, 9 pmeznews.inThe Delhi High Court has issued a stay on the Goods and Services Tax (GST) demand against the Competition Commission of India (CCI), following a writ petition challenging a tax assessment by the CGST Commissioner. The dispute originated from a January 2025 order that deemed the CCI liable for GST on fees received from parties involved in disputes. The CCI contended that this assessment overlooked a prior ruling in a similar case involving the Central Electricity Regulatory Commission (CERC), which established that statutory regulatory functions do not qualify as "business" under the CGST Act, 2017, and are exempt under Schedule III. The CCI's legal team, led by Senior Advocate Sujit Ghosh, argued that its fees are statutorily mandated and not service-based. The outcome of this case could clarify the GST applicability to regulatory bodies engaged in statutory functions, with the GST Department's appeal on a related service tax ruling still pending.
Published: Mar 19 2025, 8 pmeznews.inA parliamentary committee in India has recommended writing off a significant portion of direct tax arrears, which currently total over ₹43 lakh crore, with approximately ₹29 lakh crore classified as "difficult to collect." The report, presented on March 19, highlights that more than two-thirds of these arrears stem from legacy issues dating back to the mid-1990s, when tax records were maintained manually and lacked proper identification systems. The Central Board of Direct Taxes (CBDT) Chairman noted that many of these demands are fictitious, as interest continues to accrue on uncollectible amounts. The committee emphasized the urgent need to reform the tax assessment system to enhance efficiency and alleviate the burden on honest taxpayers facing inflated demands. It called for decisive actions, including moratoriums, to address the backlog of tax arrears in a timely manner, following the complete digitization of tax records.
Published: Mar 19 2025, 8 pmeznews.inThe Reserve Bank of India's latest monthly bulletin highlights the resilience of the Indian economy amid global uncertainties, including escalating trade tensions and volatility in financial markets. Despite sustained foreign portfolio outflows that pressured domestic equity markets in February, the economy is buoyed by strong agricultural performance and improving consumption trends. The authors assert that India's macroeconomic fundamentals remain robust, supported by domestic demand, steady investment, and government spending on infrastructure. A notable decline in headline CPI inflation to 3.6% in February, driven by falling food prices, is expected to further enhance consumption recovery and strengthen the economy. While structural strengths such as sound fiscal policies and digital initiatives provide a solid foundation for sustainable growth, potential risks from commodity price volatility and weather anomalies could impact the inflation outlook. Overall, the bulletin underscores a cautiously optimistic economic trajectory for India.
Published: Mar 19 2025, 8 pmeznews.inThe Competition Commission of India (CCI) has launched an investigation into Bharat Forge Ltd's proposed acquisition of AAM India Manufacturing Corporation Private Ltd (AAMCPL), inviting public feedback on potential competition concerns in the commercial vehicle axle market. Bharat Forge, a leading metal forging company, aims to acquire 100% equity in AAMCPL to enhance its manufacturing capabilities and customer base in India. The deal follows a restructuring of AAM's Indian operations, marking its exit from the CV axle market. However, the acquisition raises concerns as Bharat Forge's existing joint ventures could lead to a combined market share of 10-15% in overall CV axles and up to 55% in the medium and heavy commercial vehicle segment. The CCI is assessing the impact on competition, particularly regarding the supply of forged axle sub-components. Stakeholders have ten days to submit their views, with the final approval contingent on the CCI's findings.
Published: Mar 19 2025, 8 pmeznews.inThe Indian Finance Ministry is reassessing the future of its sovereign green bonds (SGrBs), launched in fiscal year 2022-23 to fund green infrastructure, after acknowledging their "below expectation" performance. Economic Affairs Secretary Ajay Seth, addressing the Standing Committee, suggested that a decision on whether to continue the bonds will be made in two to three years, citing disappointing investor interest. While globally, green bonds typically attract a premium of eight to nine basis points, India's experience has yielded only two to three basis points. Despite raising over ₹57,000 crore through SGrBs between FY 2022-23 and FY 2024-25, the allocation of funds has primarily focused on clean transportation (78%) and renewable energy (21%), with a mere 1% directed towards sustainable land management. The government remains committed to evaluating the effectiveness of this financing mechanism in promoting environmental projects.
Published: Mar 19 2025, 8 pmeznews.inIn a pioneering move for clean mobility, EKA Mobility has partnered with KPIT Technologies and BPCL to introduce a hydrogen fuel cell bus at Cochin International Airport in Kerala. This initiative, the first of its kind in the state, aims to enhance India's clean mobility ecosystem and promote the adoption of hydrogen-powered commercial vehicles. The 30+ passenger bus, part of a three-year Proof of Concept project, was showcased at the recent Global Hydrogen & Renewable Energy Summit in Kochi. EKA Mobility has integrated KPIT's hydrogen fuel cell technology into its 9-metre bus, while BPCL has established the necessary hydrogen generation and refuelling infrastructure. This comprehensive approach not only facilitates vehicle deployment but also positions Kerala as a leader in green hydrogen adoption, potentially accelerating investments in hydrogen infrastructure and contributing to India's net-zero goals.
Published: Mar 19 2025, 7 pm
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