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Manish Thaplyal, Divisional Railway Manager of Southern Railway's Thiruvananthapuram division, announced plans to enhance railway infrastructure to accommodate more and faster trains, catering to the daily transport of 300,000 passengers. Speaking at a networking event hosted by the Cochin Chamber of Commerce and Industry, Thaplyal highlighted ongoing projects, including the doubling of railway lines, with completion expected by 2027. He noted significant redevelopment efforts at key stations, costing approximately ₹3,000 crore, in locations such as Ernakulam and Thiruvananthapuram. Additionally, discussions are underway to establish a new terminal in Ernakulam and a station near Cochin International Airport, aimed at improving connectivity. The Chamber's president, S.P. Kamath, presented further infrastructure requests, including a station at the airport and increased MEMU services to meet rising demand, alongside a proposal for a heritage railway yard to promote tourism and preserve historical assets. 
Published: Jun 20 2025, 7 pmeznews.inA 14-day spiritual journey, part of Indian Railways' Bharat Gaurav Tourist Train service, will begin from Madurai on July 14, covering significant destinations including Kamakhya in Guwahati, Puri, Kolkata, Gaya, Kasi, Ayodhya, and Prayagraj. G Vignesh, Director of South Star Rail, Tour Times, the private operator managing the service, announced that the tour will allow pilgrims to perform the ‘Pind daan’ ritual at Gaya during the auspicious Adi Ammavasya. Travelers can board the train from various locations in Tamil Nadu, including Palani and Erode, with fares ranging from ₹27,000 for sleeper class to ₹59,750 for AC-1 tier. Additionally, on the same day, the company will launch the Eastern Delight tour, a leisure package covering Gangtok, Darjeeling, and Bhubaneswar. This marks the 87th tourist train operated under the Bharat Gaurav scheme, which has seen 47,000 tourists since its inception in 2022.
Published: Jun 20 2025, 7 pmeznews.inUnion Finance Minister Nirmala Sitharaman has called for a more streamlined and transparent GST registration process, leveraging technology and risk-based parameters to combat tax evasion and wrongful Input Tax Credit claims. During a conclave with senior officials from the Central Board of Indirect Taxes and Customs (CBIC), she urged the development of an action plan to enhance GST registration, refund processing, and taxpayer grievance handling. With 1.52 crore registered GST payers, Sitharaman highlighted the need for targeted awareness campaigns to assist unregistered businesses, particularly in the unorganised sector. She also emphasized the importance of well-staffed GST Seva Kendras and Customs Turant Suvidha Kendras for timely taxpayer support. Additionally, the Minister called for expedited processing of refunds, resolution of pending disciplinary matters, and filling of over 38% vacant posts within the CBIC to improve operational efficiency.
Published: Jun 20 2025, 8 pmeznews.inIndia's free trade agreements (FTAs) with the UAE and Australia are witnessing increased utilization by Indian exporters, as evidenced by a significant rise in the issuance of preferential certificates of origin (CoOs). In the fiscal year 2024-25, CoOs issued under the UAE FTA surged by 24.7% to 122,036, while those under the Australia FTA rose by 19% to 77,234, according to the Commerce Department. This trend reflects enhanced outreach and clarity on procedural requirements, bolstering trade relations. Overall, 720,996 certificates were granted in 2024-25, up from 684,724 the previous year. Despite concerns regarding the effectiveness of India's FTAs with other partners, the government is focused on improving compliance and addressing regulatory hurdles. Both FTAs, implemented in 2022, are pivotal for Indian exporters to access preferential tariff benefits and enhance competitiveness in global markets.
Published: Jun 20 2025, 8 pmeznews.inThe Central Railway's innovative eight-week campaign, Lucky Yatra Yojana, aimed at reducing ticketless travel on Mumbai's suburban network, has concluded without a noticeable increase in ticket sales. Running from March 20 to June 15, the initiative transformed valid tickets into lottery entries for cash prizes of ₹10,000 daily and ₹50,000 weekly. Despite the attractive rewards, only three passengers claimed their prizes, raising concerns about the campaign's visibility. Commuter associations criticized the lack of publicity, stating that many passengers were unaware of the initiative until it ended. "If we had known, we could have informed passengers," said Lata Argade, Chairman of the Suburban Railway Commuter Association. Central Railway officials acknowledged the disappointing response and are now considering whether to extend the programme in the future. The campaign, developed in partnership with FCB Communication Pvt Ltd, did, however, garner six Golds and a Grand Prix at Cannes Lions 2025.
Published: Jun 20 2025, 7 pmeznews.inThe Indian Commerce Department convened a meeting on Friday, led by Secretary Sunil Barthwal, to assess the implications of the ongoing Israel-Iran conflict on the nation’s trade and freight rates. Stakeholders from the shipping and air-cargo sectors were present, discussing the stability of the Strait of Hormuz, a vital route for global oil transport, which is currently being monitored for any disruptions. Concerns have arisen regarding potential Iranian actions that could block this critical passage, prompting Indian exporters to consider alternative routes, such as the longer journey around the Cape of Good Hope, which has significantly increased shipping times and costs. In response, Indian refiners are exploring energy supplies from West Africa to mitigate risks. Approximately 40% of India’s crude oil imports and 60% of its LNG imports transit through the Strait, underscoring the importance of the situation for the country’s energy security.
Published: Jun 20 2025, 7 pmeznews.inThe Income Tax Department of India has urged taxpayers to review their Income Tax Returns (ITRs) following a significant increase in foreign assets and income declarations. In 2024, Indian funds in Swiss banks surged to 3.5 billion Swiss francs (approximately ₹37,600 crore), with over ₹30,000 crore in foreign assets reported for the Assessment Year 2024-25. Despite this, only 11% of the total funds were in customer accounts, raising concerns about potential black money. Since 2018, Switzerland has shared financial data with India under the Automatic Exchange of Information framework, enabling the Central Board of Direct Taxes (CBDT) to identify discrepancies in taxpayer declarations. Consequently, 24,678 taxpayers reviewed their ITRs, leading to 5,483 belated returns that reported foreign assets worth ₹29,208 crore and additional foreign income of ₹1,089.88 crore. The department is considering action against those who fail to respond.
Published: Jun 20 2025, 7 pmeznews.inIndia's core sector growth, which encompasses eight key industries, has slowed to a nine-month low of 0.7% in May 2025, down from 1% in April, according to provisional government data. This sector, which includes coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity, accounts for 40.27% of the Index of Industrial Production (IIP). Notably, electricity generation fell by 5.8%, while both fertilizers and natural gas also experienced significant declines. However, steel and cement sectors showed resilience, with production rising by 6.7% and 9.2%, respectively. Rahul Agrawal, Senior Economist at ICRA Ltd, attributed the overall lackluster performance to excessive rainfall affecting electricity and mining sectors. He anticipates IIP growth to range between 1.5% and 2.5% for May, reflecting mixed sectoral performances amid challenging conditions.
Published: Jun 20 2025, 7 pmeznews.inSales of fertilizers in India have shown a notable increase, with urea sales rising 12.5% to 35.79 lakh tonnes (lt) in May compared to 31.81 lt a year earlier. Overall, the consumption of key fertilizers, including Urea, Di-ammonium Phosphate (DAP), Muriate of Potash (MOP), and Complex fertilizers, surged 14% in the first two months of the fiscal year, reaching 58.32 lt from 51.29 lt. However, DAP sales fell 10.7% to 7.89 lt, despite government claims of sufficient availability. The recent monsoon, covering over 90% of the country, has spurred fertilizer demand, particularly for DAP. Production of fertilizers has declined by 5.1% during April-May, with urea output down 13.4%. Fertilizer imports also dropped significantly, with overall imports falling to 15.92 lt from 22.18 lt last year. Rainfall data indicates a mixed pattern across regions, with some areas experiencing above-normal precipitation.
Published: Jun 20 2025, 6 pmeznews.inHeavy rainfall is expected to dominate the remainder of June, particularly across the West Coast, North-West, and East India, as the rain belt shifts northward, according to the European Centre for Medium-Range Weather Forecasts. The monsoon has resumed its advance, reaching parts of Bihar, East Uttar Pradesh, Madhya Pradesh, and Himachal Pradesh, with forecasts indicating further coverage in Rajasthan and Jammu and Kashmir in the coming days. While rainfall activity is set to taper in South and Central India, above-normal precipitation is anticipated in East and North-East India until July 10. A low-pressure area over south Bihar is expected to weaken, while predictions suggest a new low may form over the Odisha-West Bengal coast soon. Recent heavy rains have reduced the national rain deficit to 5%, although the South Peninsula remains at a deficit of 3%.
Published: Jun 20 2025, 6 pm
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