Economy
Govt can nominate private firms for offshore atomic minerals mining
The new rules notified under the Offshore Areas Mineral (Development and Regulation) Act, 2002, are aimed at unlocking India's offshore atomic mineral potential
 "Govt can nominate private firms for offshore atomic minerals mining")
A glimmer of hope as Beijing processes rare-earth magnet requests
The export restrictions, which took effect on April 4, apply to rare earth magnets, which are critical components in industries ranging from automobiles and electronics to health care and defence
 "A glimmer of hope as Beijing processes rare-earth magnet requests")
Claiming false deductions? I-T dept steps up scrutiny, warns of penalty
The warnings come as the government has given taxpayers more time to file their returns - the deadline is now September 15. But experts say this extra time comes with stricter checks
 "Claiming false deductions? I-T dept steps up scrutiny, warns of penalty")
Skill Ministry forms steering committee for ITI upgradation scheme
The committee will also issue (form) regulations for setting up of five national centres of excellence for skilling, which has special emphasis on creating a skilled workforce for manufacturing sector
 "Skill Ministry forms steering committee for ITI upgradation scheme")
RBI to hold ₹2 trillion 7-day VRRR auction to absorb surplus liquidity
RBI to conduct seven-day Variable Rate Reverse Repo auction on Friday to absorb Rs 2 trillion as banking system liquidity remains in surplus of over Rs 3 trillion
 "RBI to hold ₹2 trillion 7-day VRRR auction to absorb surplus liquidity")
India, EU resolve digital differences in free trade agreement talks
'Substantial differences' remain over sustainable development chapter
 "India, EU resolve digital differences in free trade agreement talks")
Govt needs more data access: NSC chairman Rajeeva Laxman Karandikar
With India's economy expanding rapidly and global investor interest growing, official figures are facing more scrutiny. Calls are mounting for more accurate economic data
 "Govt needs more data access: NSC chairman Rajeeva Laxman Karandikar")
China tightens grip on rare earth sector with silent quota release
China released the initial batch of quotas for the year just last month, without making the usual public announcement. Firms were instructed to keep the figures confidential
 "China tightens grip on rare earth sector with silent quota release")
India's forex reserves fall by $3 billion to $696.67 billion in July
In the previous reporting week, the overall kitty had declined by $3.049 billion to $699.736 billion
 "India's forex reserves fall by $3 billion to $696.67 billion in July")
India to stay resilient amid global trade tensions, says Sunil Mittal
Acknowledging that overall global macroeconomic growth has been subdued and divergent across different regions, Mittal called for coordinated action to ensure sustainable momentum
 "India to stay resilient amid global trade tensions, says Sunil Mittal")
US rejects India's WTO claim on auto tariffs, cites security grounds
US says Trump auto tariffs were imposed on national security grounds and cannot be challenged as safeguard measures under the World Trade Organisation rules
 "US rejects India's WTO claim on auto tariffs, cites security grounds")
Industry body warns China's curbs threaten India's smartphone exports
ICEA urges government action as Foxconn recalls staff and Chinese customs block key machines
 "Industry body warns China's curbs threaten India's smartphone exports")
India's long overdue low-carbon development plan likely to see light
The climate strategy may pave the path to a national carbon budget, an element critical in achieving net zero, but increase costs for companies transitioning to low-emission strategies
 "India's long overdue low-carbon development plan likely to see light")
India likely to settle for 10-15% tariff in interim trade deal with US
This may put New Delhi in a more favourable position than Indonesia, Vietnam
 "India likely to settle for 10-15% tariff in interim trade deal with US")
India's outward FDI in June swells to $5 billion, shows RBI data
Singapore top FDI destination in Apr-June
 "India's outward FDI in June swells to $5 billion, shows RBI data")
Uttar Pradesh govt plans civic infrastructure outlay of ₹3.44 trillion
Yogi 2.0 drafts 'Mission 2031' blueprint
 "Uttar Pradesh govt plans civic infrastructure outlay of ₹3.44 trillion")
India, UK likely to sign free trade agreement next week after review
India and UK are expected to sign FTA next week; pact expected to cut tariffs, boost exports, and benefit sectors like textiles, whisky, while easing social security rules for Indian professionals
 "India, UK likely to sign free trade agreement next week after review")
Uncertain macro situation stifling discretionary spending: Wipro chairman
Things have not worsened for Indian IT industry but they have not got any better either, he says
 "Uncertain macro situation stifling discretionary spending: Wipro chairman")
Trump hints at trade deal with India, says major announcements on the way
US President Donald Trump hints at new deal with India, possibly with tariffs similar to Indonesia's 19% rate
 "Trump hints at trade deal with India, says major announcements on the way")
Lok Sabha select committee proposes 285 changes to Income Tax Bill, 2025
The Income Tax Bill, 2025, will replace the Income Tax Act, 1961. The government aims to implement the new Income Tax law from April 1, 2026
 "Lok Sabha select committee proposes 285 changes to Income Tax Bill, 2025")
