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The weather outlook for the remainder of April indicates an increase in nor’wester activity across East and North-East India, driven by strong westerly wind streams. A western disturbance has formed a cyclonic circulation over northern Pakistan, creating a trough of low pressure extending from north-west Rajasthan to east Bangladesh. The India Meteorological Department (IMD) has warned of violent weather, including widespread rainfall, thunderstorms, and gusty winds, particularly in North-East India, where heavy rainfall is expected in Assam and Meghalaya over the next five days. Additionally, a trough from north Chhattisgarh to the Gulf of Mannar will bring similar conditions to southern states, including Karnataka and Kerala. As the month progresses, a high-pressure area may develop, potentially confining the nor’westers to narrow streams along the eastern Himalayas and affecting the eastern seaboard from West Bengal to Tamil Nadu. 
Published: Apr 21 2025, 4 pmeznews.inThe Index of Core Industries (ICI) recorded a growth of 4.4% during the April-March 2024-25 fiscal year, a decline from 7.6% in the previous year, according to government data released on Monday. In March, the output of eight key infrastructure sectors improved slightly to 3.8%, up from 3.4% in February, but down from 6.3% in March 2024. Notably, crude oil and natural gas production experienced negative growth, while coal, refinery products, steel, and electricity saw moderated growth rates of 1.6%, 0.2%, 7.1%, and 6.2%, respectively. Conversely, fertilizer production surged by 8.8%, and cement production increased to 11.6%. Aditi Nayar, Chief Economist at ICRA, attributed the core sector's performance to higher electricity generation amid rising temperatures, predicting an Index of Industrial Production (IIP) growth of 3.0-3.5% for March 2025.
Published: Apr 21 2025, 7 pmeznews.inIn a significant boost for India's rural economy, the Khadi and Village Industries Commission (KVIC) has reported a record turnover exceeding ₹1.7 lakh crore for FY24-25, marking its highest since inception. Chairman Manoj Kumar attributed this success to Prime Minister Narendra Modi's leadership and the support of the Ministry of Micro, Small and Medium Enterprises (MSMEs). KVIC aims for an ambitious ₹2 lakh crore in sales for FY25-26. Over the past 11 years, production has surged nearly fourfold, while sales have increased fivefold, with Khadi garment sales alone rising by 561%. Employment generation has also seen a 49.23% rise, providing jobs to 1.94 crore individuals. The Pradhan Mantri Employment Generation Program has established over 10.18 lakh units, supporting 90 lakh jobs. With a focus on women's empowerment, 80% of Khadi artisans are women, and wages have risen by 275% in the last decade, reflecting a broader shift towards sustainable rural development.
Published: Apr 21 2025, 5 pmeznews.inIndia's infrastructure output experienced a year-on-year growth of 3.8% in March, according to government data released on Monday. This sector, which encompasses eight key industries and accounts for 40% of the nation's industrial production, saw a revised growth rate of 3.4% in February, up from an initial estimate of 2.9%. Additionally, for the fiscal year 2024-25, infrastructure output recorded a robust increase of 4.4%. These figures reflect a positive trend in India's economic recovery and development, highlighting the government's ongoing efforts to bolster infrastructure as a critical component of industrial growth. The data underscores the resilience of the sector amid broader economic challenges, suggesting a steady path forward for India's industrial landscape.
Published: Apr 21 2025, 5 pmeznews.inHDFC Bank has announced plans to provide clean and renewable energy solutions to over 1,000 villages in India by 2025 through its corporate social responsibility initiative, ‘Parivartan’. The initiative aims to empower rural and semi-urban communities with solar-powered infrastructure, including over 61,655 solar street lights installed across 22 states, and projects such as portable solar pumps and solar-powered water supply systems. To address barriers to solar adoption, HDFC Bank's ‘Solar Shiksha’ initiative offers educational workshops and practical demonstrations, reaching schools, hospitals, and orphanages in states like Goa, Karnataka, and Maharashtra. Deputy Managing Director Kaizad Bharucha emphasized the importance of inclusive development for a sustainable future, while Nusrat Pathan, Head of CSR, highlighted the need for a knowledge-driven framework to ensure long-term community energy independence. The initiative reaffirms HDFC Bank's commitment to fostering equitable and resilient energy solutions in India.
Published: Apr 21 2025, 5 pmeznews.inThe Solvent Extractors Association (SEA) has called on the Indian government to prioritize the revival of organic, non-GMO soybean and soybean meal exports to the United States amid ongoing Bilateral Trade Agreement (BTA) negotiations. Previously, India exported between 150,000 and 200,000 tonnes of these products to the US, but trade was halted due to safeguard duties imposed after domestic US producers raised concerns. SEA President Sanjeev Asthana emphasized the importance of including this issue in BTA discussions. Additionally, the association highlighted problems with non-standardized packaging of edible oils, which has led to consumer confusion due to varying pack sizes introduced after regulatory changes in 2022. SEA has urged the Ministry of Consumer Affairs to restore standardized packaging requirements to enhance transparency and consumer trust in the market.
Published: Apr 21 2025, 4 pmeznews.inIndia is poised to implement a temporary safeguard duty of 12% on certain steel imports, aimed at curbing the influx of cheap steel from countries like China, South Korea, and Japan. This decision follows a recommendation from the Directorate General of Trade Remedies (DGTR) after an investigation revealed that rising imports have adversely affected the domestic steel industry. The tariff is expected to be enacted swiftly, with the Ministry of Finance set to make the final decision. India, the world's second-largest crude steel producer, has seen its finished steel imports reach a nine-year high of 9.5 million metric tons in the 2024/25 fiscal year, prompting concerns from local steelmakers, including JSW Steel and Tata Steel, about potential job cuts and operational reductions. The move aligns India with other nations taking measures to protect their domestic industries from foreign competition.
Published: Apr 21 2025, 4 pmeznews.inThe Indian government has projected a fertilizer subsidy of approximately ₹1.68 lakh crore for the fiscal year 2025-26, with ₹1.19 lakh crore earmarked for urea and ₹49,000 crore for phosphatic and potash fertilizers. This marks a 6% decrease from the previous fiscal's expenditure of ₹1,77,129.5 crore, attributed to reduced imports of urea and di-ammonium phosphate (DAP) alongside lower international prices. Despite this decline, the actual subsidy exceeded the revised budget estimate of ₹1,71,310 crore. Urea subsidies rose slightly to over ₹1.24 lakh crore, while phosphatic and potash subsidies fell by 19% to ₹52,810 crore. A former agriculture secretary noted that reducing fertilizer subsidies is a strategic move to manage fiscal expenditure, as food subsidies remain untouchable. The Fertilizer Ministry is also exploring a pilot program for direct cash transfers of subsidies, building on existing data-sharing initiatives with the Agriculture Ministry.
Published: Apr 21 2025, 4 pmeznews.inCentral and state GST officers have uncovered 25,009 fake firms involved in fraudulent input tax credit (ITC) claims amounting to ₹61,545 crore during the 2024-25 fiscal year, leading to the recovery of ₹1,924 crore and the arrest of 168 individuals. Over the past two years, a total of 42,140 fake firms have been identified, generating ITC fraud exceeding ₹1.01 lakh crore, with ₹3,107 crore recovered and 316 arrests made. To combat this issue, the GST registration process has been tightened, requiring physical verification and Aadhaar authentication for high-risk applicants. The GST Act imposes penalties for fraudulent ITC claims, including the suspension of registrations and blocking of ITC in electronic ledgers. Officials have emphasized the importance of intelligence sharing and data analytics in detecting fraudulent activities, with two national conferences held to enhance enforcement efforts while maintaining business facilitation.
Published: Apr 21 2025, 3 pmeznews.inThe Employees' Provident Fund Organization (EPFO) reported a net addition of 1.61 million members in February 2025, reflecting a year-on-year growth of 3.99% in payroll additions compared to February 2024. The surge in new subscribers, totaling approximately 739,000, is attributed to increased employment opportunities and heightened awareness of employee benefits, particularly among the youth. Notably, individuals aged 18-25 accounted for 57.71% of new subscribers, with a net payroll addition of 678,000 in this age group. Additionally, around 1.32 million former members rejoined EPFO, marking an 11.85% increase from the previous year. Female participation also rose, with 208,000 new female subscribers and a 9.23% increase in net female payroll additions. Maharashtra led the states in net payroll growth, contributing 20.90% of the total, while expert services accounted for 41.72% of the overall net payroll addition.
Published: Apr 21 2025, 3 pm
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