IT Department to Launch New e-Filing Portal for Taxpayers on June 7
Early next month, the Income Tax Department is expected to launch a new e-filing web portal for taxpayers, to file routine ITRs and other tax-related tasks, according to officials.
Economy
News on Indian Economy
EPFO Adds 11.22 Lakh Net Subscribers in the Month of March, 2021
The provisional payroll data of EPFO has been published on 20th May, 2021 highlights that EPFO has added around 11.22 lakh net subscribers in the month of March, 2021. Despite Covid-19 pandemic, cumulative net payroll addition for FY 2021 is almost at par with last year, with 77.08 lakh net additions to subscribers base.
To Achieve Self-Sufficiency in Edible Oils Union Government Formulates Kharif Strategy 2021
To achieve self-sufficiency in the production of oilseeds, the Ministry of Agriculture and Farmers Welfare has adopted a multi-pronged strategy. Under the strategy, the Government of India has approved an ambitious plan for the free distribution of high yielding varieties of seeds to the farmers for the Kharifseason 2021 in the form of mini-kits.The special Kharif programme will bring an additional 6.37 lakh hectare area under oilseeds and is likely to produce 120.26 lakh quintals of oilseeds and edible oil amounting to 24.36 lakh tonnes.
GI Certified Gholvad Sapota from Maharashtra Finds its Way to the UK
A consignment of Dahanu Gholvad sapota (naseberry) has been exported to the United Kingdom from Maharashtra’s Palghar district, providing a major boost to shipments of Geographical Indication (GI) certified products from India.
India’s Oilmeal Exports Jump 51 pc in FY21
According to Solvent Extractors’ Association (SEA), the country’s oil meal exports increased by 51.44% to 36.8 lakh tonne in FY21 from 24.3 lakh tonne in FY20, attributable to a significant increase in soybean meal shipments.
India Ranks Third in Renewable Energy Country Attractiveness Index
On Wednesday, India climbed up rank to third place in EY’s Renewable Energy Country Attractiveness Index, driven by strong performance in solar PV, with solar PV capacity expected to surpass coal before 2040.
Defence Ministry Clears the BRO Tunnel Under Shinkun La in Ladakh
Cutting through the red-tape, the Union defence ministry has decided to ask the Border Roads Organisation (BRO) to build a 4.25-kilometre tunnel under the 5,091-metre-high Shinkun La pass to make an all-weather axis from Manali to Leh via Darcha-Padun-Nimmu alignment to supply Indian Army formations in Ladakh sector. The snow-free axis is expected to be completed by 2024.
Government Takes historic Pro-Farmer Decision of Hiking Fertilizer Subsidy, Subsidy on DAP Fertiliser Hiked by 140%
PM Narendra Modi chaired a high level meeting on the issue of fertiliser prices. A detailed presentation was given to him on the issue of fertiliser prices.
India Second Largest Insurtech Market in APAC: S&P Global
According to S&P Global Market Intelligence data, India is the second largest insurance-technology market in Asia-Pacific, accounting for 35% of the US$ 3.66 billion in insurtech-focused venture investments made in the country.
Government Sees Better Fiscal Numbers in FY21 than Budgeted
The finance ministry believes India’s fiscal deficit for FY21 may not be as low as budgeted. 9.5% of GDP, with both revenue and expenditure is expected to be higher than anticipated. The central government’s fiscal position has improved in the second half of FY21 due to a revival in economic activities. T