Several Indian states have made mastery of the local language required for government employment in an effort to defend local rights and advance regional languages. The latest decisions and their ramifications are discussed in this column. Assam Assam Chief Minister Himanta Biswa Sarma declared on July 10 that government job choosing now requires knowledge in…
Payrollers are anticipating the release of the FY25 Budget by Finance Minister Nirmala Sitharaman with great anticipation, as they hope significant tax reforms will alleviate financial burdens. According to a Deloitte report, the salaried class is advocating for a reorganization of tax slabs, incentives for purchasing electric vehicles (EVs), adjustments to housing rent allowance (HRA) rates, and a greater emphasis on affordable housing. Calls for Tax Regime Parity The recently introduced personal tax system underwent revisions with the introduction of the Budget 2023. Specifically, the basic exemption threshold was raised from Rs 2.5 lakh to Rs 3 lakh, while the surcharge on revenues beyond Rs 5 crore was reduced from 37% to 25%. These changes were…
The income tax administration has revised its list of recognized banks for tax payments made through the e-Pay Tax service in an effort to expedite the direct tax payment process. Through the integration of this service with the e-Filing portal, taxpayers can generate challans (CRN), make payments, and check their payment history. There are several…
In an effort to assist aspirant entrepreneurs, Prime Minister Narendra Modi has directed numerous initiatives conducted by the Indian government to encourage innovation and entrepreneurship. The present global startup hotspot is India. The nation with the third highest population has 107 unicorns valued at $30 billion and more than 90,000 enterprises. In an effort to…
On Tuesday, State Bank of India (SBI) announced its new “SME Digital Business Loans” product, a key step toward increasing small company financing. This novel solution offers to approve loans for small and medium-sized firms (SMEs) in 45 minutes, marking a significant milestone in the bank’s digitization ambitions. Concentrate on growth and profitability. SBI, the…
Former Bihar Chief Minister Jitan Ram Manjhi has been appointed as the new Minister of Micro, Small, and Medium Enterprises (MSME), as part of Prime Minister Narendra Modi’s cabinet reshuffle. Manjhi follows Narayan Rane, who took up the MSME portfolio in July 2021. Here, we examine the potential developments Manjhi might bring to the MSME…
Prime Minister’s Employment Generation Programme (PMEGP)The PMEGP combines the Prime Minister’s Rojgar Yojna (PMRY) with the Rural Employment Generation Programme. Its mission is to promote self-employment opportunities for unemployed youth and traditional artisans by building microbusinesses in the non-farm sector. The Khadi and Village Industries Commission (KVIC) oversees the project at the national level, while…
What is Udyam/MSME registration?The Indian government provides micro, small, and medium-sized companies (MSMEs) functioning in the country with an electronic certificate known as Udyam Registration. It superseded the old Udyog Aadhaar Memorandum (UAM) registration process. While Udyam registration is optional, it gives significant benefits to MSMEs, making it advantageous to do so. Udyam registration grants…
In a historic move to ensure responsible advertising, the Ministry of Information and Broadcasting (MIB) stated that marketers and advertising agencies must now submit a ‘self-declaration certificate’ before publishing or broadcasting any commercials. This directive follows a Supreme Court judgment issued on May 7, 2024, in response to the Indian Medical Association vs. Union of…
Corporate social responsibility (CSR) has grown to be synonymous with environmental stewardship, emphasizing the need for sustainable practices in today’s business context. Companies are increasingly prioritizing environmental sustainability as a key component of their CSR programs, ranging from pollution reduction to renewable energy investment. Let’s look at how firms can promote environmental stewardship through a…
