Govt approves procurement of 54,166 tonnes moong, 50,750 tonnes groundnut under PSS
New Delhi, Jun 12 (PTI) The government has approved procurement of 54,166 tonnes of moong from Haryana, Gujarat and Uttar Pradesh at a minimum support price (MSP), along with the procurement of 50,750 tonnes of groundnut from Uttar Pradesh.
The procurement of the summer crops of 2025-26 will be undertaken under the central Price Support Scheme (PSS), which is activated when market rates fall below the MSP.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scroll.in
28 minutes ago
- Scroll.in
Karnataka demands greater share of central tax pool
Karnataka Chief Minister Siddaramaiah on Friday demanded greater share of funds for the state from the central tax pool. Siddaramaiah said that there had been a 'stark imbalance in fiscal returns' despite Karnataka contributing about 8.7% of the national gross domestic product and ranking second in Goods and Services Tax collections with just 5% of India's population. The chief minister said that the cut in Karnataka's share under the 15th Finance Commission from 4.7% to 3.6% had resulted in a cumulative loss of more than Rs 80,000 crore between the financial years 2020-'21 and 2025-'26, PTI reported. Siddaramaiah's request came during a meeting with 16th Finance Commission Chairman Arvind Panagariya. The commission, set up in December 2023, will recommend distribution of tax revenue between the Union government and the states for a five-year period between the financial years 2026-'27 and 2030-'31. Karnataka pays Rs 4.5 lakh crore in taxes every year, Siddaramaiah said, adding that the state received only 15 paise in return for every Re 1 it contributes to union taxes. 'This injustice should not happen in the 16th Finance Commission,' the chief minister's office said in a statement. To make the 'formula fairer, Karnataka has proposed reducing the weight of the income-distance criterion and giving more weight to a state's economic contribution, so that high-performing states are not penalised, but encouraged,' The Indian Express quoted the chief minister's office as saying. The Karnataka government also requested Rs 1.15 lakh crore for investments to strengthen infrastructure in Bengaluru.
Time of India
11 hours ago
- Time of India
Crypto investments under scanner: CBDT launches probe into unaccounted income; high-risk investors in VDA may face scrutiny
The Central Board of Direct Taxes (CBDT) has launched a probe into possible tax evasion and laundering of unaccounted income through investments in virtual digital assets (VDAs), including high-risk VDA transactions and cryptocurrencies, sources in the government said on Thursday. The tax authority is currently verifying individuals and entities engaged in high-risk VDA transactions who appear to have failed to comply with key provisions of the Income Tax Act, 1961, PTI reported. These include non-disclosure of digital asset income and incorrect tax filings, according to officials familiar with the matter. Under Section 115BBH of the Income Tax Act, introduced in the Finance Act, 2022, income from the transfer of VDAs is taxed at a flat rate of 30%, plus applicable surcharge and cess. The law prohibits deduction of any expenses except for the cost of acquisition and also disallows the set-off or carry-forward of losses from VDA transactions. Government data analytics has revealed widespread non-compliance, with a significant number of taxpayers either failing to report digital asset gains in the designated Schedule VDA of their income tax returns (ITR), or paying tax at lower rates while incorrectly claiming benefits such as cost indexation. CBDT has matched ITR filings with TDS data submitted by Virtual Asset Service Providers (VASPs), commonly known as crypto exchanges, and discrepancies have triggered a wider scrutiny, officials said. Taxpayers found defaulting could be subject to further verification or scrutiny under the law. In recent weeks, the board has sent emails to thousands of individuals identified as high-risk defaulters, urging them to review and, if necessary, update their ITRs to accurately reflect income from VDA transactions. The development comes under the CBDT's ongoing push to promote voluntary compliance through its 'NUDGE' framework — short for Non-intrusive Usage of Data to Guide and Enable taxpayers — under its 'Trust Taxpayers First' philosophy. This is the third NUDGE campaign initiated by the department in the past six months, following previous efforts focused on foreign asset disclosures and withdrawal of ineligible deductions claimed under section 80GGC. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
12 hours ago
- The Print
Garuda Aerospace sets up agri-drones indigenisation facility near Chennai
Spread across 35,000 sq ft at Thalambur, near the city, the state-of-the-art facility was inaugurated by Union Minister of State for Rural Development Kamlesh Paswan on Thursday. The facility, a first-of-its-kind initiative, augments Garuda Aerospace's existing manufacturing unit located near Chennai and a major leap in advancing drone manufacturing. The products that would be produced at the facility include 7 subsystems (of Unmanned Aerial Systems), 33 parts among others. The production would be covered under the Centre's ambitious 'Atmanirbhar Bharat' campaign. Chennai, Jun 13 (PTI) Drone manufacturer Garuda Aerospace has established an Agri-Drone Indigenisation facility near the city to design and manufacture advanced Unmanned Aerial Systems among many others, a top official said on Friday. Garuda Aerospace also launched 300 Centres of Excellence, established in association with various educational institutions and industry partners across the country. It would advance drone innovation, research and skill development. A Train-the-Trainer programme aimed at enhancing skills on operating the drones was also unveiled on the occasion. 'Our new Agri-Drone Indigenisation facility is equipped to manufacture over 33 different parts and 7 subsystems. This reinforces our commitment to self-reliance,' Garuda Aerospace founder and CEO Agnishwar Jayaprakash said in a release here. 'All of these efforts and initiatives have powered Garuda Aerospace to become one of India's most valuable drone startups, with a fast-growing global footprint,' he said. A live demonstration of Agri-Drones showcasing Garuda Aerospace's commitment to fostering self-reliance and innovation within the burgeoning drone ecosystem was also conducted on the occasion. PTI VIJ VIJ KH This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
