Latest news with #CustomsTariffAct
News18
11 hours ago
- Business
- News18
Govt waives customs duty on cotton Imports till September 30
By Shailesh YadavNew Delhi [India], August 19 (ANI): In a major relief to the textile and garment industry, the Central Government on Monday announced a complete waiver of customs duty and Agriculture Infrastructure and Development Cess (AIDC) on the import of raw cotton. According to a notification issued by the Ministry of Finance, the exemption will be applicable on cotton falling under heading 5201 of the Customs Tariff Act, 1975. The waiver will come into effect from August 19, 2025, and remain valid till September 30, Finance Ministry said the decision was taken in public interest to ease raw material costs for domestic manufacturers and exporters at a time when the textile sector has been facing price volatility and supply experts believe the move will help stabilize yarn prices, improve competitiveness of Indian garments in global markets, and support small and medium enterprises in the textile value temporary duty relief is expected to bring down input costs for fabric and garment manufacturers, especially ahead of the festive season when demand for cotton-based products notification makes it clear that the exemption will cease after September 30 unless extended further by the India's GDP growth projection is at 6.7 per cent in the first quarter of the current financial year which is higher than the RBI estimates of 6.5 per cent, according to rating agency agency noted that however GDP expansion has eased from 7.4 per cent in Q4 FY2025, while it outpaces the Monetary Policy Committee's (MPC's) recent forecast of 6.5 per rating agency also said the growth in gross value added (GVA) is expected to ease to 6.4 per cent in Q1 FY2026 from 6.8 per cent in Q4 slowdown in the industrial sector and agriculture is likely to offset the strong performance of the services growth is estimated to fall to 4.0 per cent in Q1 FY2026 from 6.5 per cent in the previous quarter, while agriculture growth is projected at 4.5 per cent compared with 5.4 per cent earlier. On the other hand, services are set to rise to an eight-quarter high of 8.3 per cent, up from 7.3 per also expects a double-digit rise in net indirect taxes in nominal terms, though lower than the 22.7 per cent recorded in Q4 FY2025. This improvement comes from a sharp increase in the Government of India's indirect taxes, which grew by 11.3 per cent in Q1 FY2026 against a contraction of 3.1 per cent in Q4 the same time, the subsidy outgo contracted at a narrower pace of 7.3 per cent, compared with 40.7 per cent in the previous quarter. Because of this, the gap between GDP and GVA growth is expected to stay positive at about 30 basis points in Q1 FY2026, though lower than the 62 basis points in Q4 spending has played a key role in boosting growth. Based on CGA data, the Centre's gross capital expenditure surged 52.0 per cent year-on-year to Rs. 2.8 trillion in Q1 FY2026, compared with 33.4 per cent growth in Q4 FY2025 and a 35.0 per cent contraction in Q1 FY2025. (ANI)
NDTV
05-08-2025
- Politics
- NDTV
Parliament Extends President's Rule In Manipur By 6 Months
New Delhi: Parliament on Tuesday approved a statutory resolution to extend President's Rule in Manipur for another six months beyond August 13. The resolution, which was passed by the Lok Sabha last week, was approved by the Rajya Sabha, amid uproar by Opposition members over the issue of electoral rolls revision in Bihar. As Opposition MPs continued their protests on SIR, Deputy Chairman Harivansh said it was a "constitutional obligation" to pass the resolution. "It's a statutory resolution. All of us, as MPs, have to follow constitutional provisions. These have a time limit within which it has to be disposed of..." Harivansh said. He then asked YSRCP member Subhash Chandra Bose Pilli to speak on the resolution. Opposition MPs however started raising slogans against the Special Intensive Revision (SIR) of electoral rolls exercise with TMP MPs raising slogans while standing next to the YSRCP member. BJD MP Muzibulla Khan said, "When Manipur law and order situation was bad, Article 356 was imposed. Today, the situation of law and order in Odisha is bad..." "Double engine government in Manipur failed.... Has the situation improved after so many months of President's Rule or not? Minister should inform us... The Centre should take responsibility, removing an elected government and imposing President's Rule repeatedly is also not good," he said. Moving the resolution for passage in the House, Minister of State for Home Affairs Nityanand Rai said a rift was formed between two communities in Manipur due to a court order. "A rift was created between two communities in Manipur due to an order of the High Court related to a dispute on reservations. Those who say it is religious violence are wrong..." Rai said amid continued uproar by Opposition MPs. Rai also said Home Minister Amit Shah had undertaken a tour of violence- affected areas in Manipur. "He (Shah) met high level officials, security forces, civil society members..." Rai said, claiming that the northeast has witnessed widespread development under the Narendra Modi-led government. He also said since the President's Rule was imposed in Manipur, only one incident of violence has been reported. The Rajya Sabha later approved the resolution with a voice vote. The House also passed another resolution by voice vote that sought to amend the Second Schedule to the Customs Tariff Act, 1975. The resolution was moved by Minister of State for Finance Pankaj Chaudhary. Manipur was put under President's Rule in February this year after Chief Minister N Biren Singh stepped down, nearly two years after the ethnic conflict began in the state between the valley-based Meitei community and the hills-based Scheduled Tribe Kuki-Zo group of communities.
Hans India
05-08-2025
- Politics
- Hans India
Govt pushes ahead with its agenda in Parliament as Opposition's protest continues
New Delhi: The government on Tuesday pressed on with its agenda amid continued disruptions in Parliament due to the Opposition's demand for a discussion on the special intensive revision of electoral rolls in Bihar, as Lok Sabha passed a bill and Rajya Sabha approved a couple of resolutions despite the din. Parliamentary Affairs Minister Kiren Rijiju had said on Monday that the government will be compelled to push for Parliament's approval for its legislative agenda if the Opposition continued to obstruct its smooth functioning with its protests. Lok Sabha passed 'The Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2025' with a voice vote, the first draft legislation approved by the House in Parliament's Monsoon session which began on July 21. Law Minister Arjun Ram Meghwal moved for its consideration and passage amid the din in the House due to the Opposition's protest. The bill, which seeks to grant STs reservation in the state assembly, was introduced in the House on this day in 2024 and had been pending since. After the passage of the bill, Sandhya Ray, who was in the chair, adjourned the proceedings for the day as protests by opposition MPs continued unabated. Rajya Sabha saw its first adjournment around 11.45 am, when it was adjourned till 2 pm. When Rajya Sabha met at 2 pm, Opposition MPs were on their feet demanding a discussion on the special intensive revision. Amid ruckus, Harivansh, who was in the Chair, took up two statutory resolutions, including one for extending the President's rule in Manipur for another six months. He said it was a constitutional obligation, and told the members that the House has passed only one Bill in the session so far. The Chair also disallowed any remarks made by opposition leaders on issues other than the resolution that was being taken. Opposition MPs continued to raise slogans on the electoral roll revision issue, as a couple of members also tried to participate in the discussion on the resolution for extending President's Rule in Manipur beyond August 13. The resolution to extend the President's rule in Manipur, and the other one of the Finance Ministry to amend the Second Schedule to the Customs Tariff Act, 1975, were passed by voice vote. The Chair then adjourned the House for the day as protests continued. Barring discussions on Operation Sindoor in both Houses, Parliament has seen little transaction of its normal business since the Monso
Hindustan Times
05-08-2025
- Politics
- Hindustan Times
Govt pushes ahead with its agenda in Parliament as Opposition's protest continues
New Delhi, The government on Tuesday pressed on with its agenda amid continued disruptions in Parliament due to the Opposition's demand for a discussion on the special intensive revision of electoral rolls in Bihar, as Lok Sabha passed a bill and Rajya Sabha approved a couple of resolutions despite the din. Govt pushes ahead with its agenda in Parliament as Opposition's protest continues Parliamentary Affairs Minister Kiren Rijiju had said on Monday that the government will be compelled to push for Parliament's approval for its legislative agenda if the Opposition continued to obstruct its smooth functioning with its protests. Lok Sabha passed 'The Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2025' with a voice vote, the first draft legislation approved by the House in Parliament's Monsoon session which began on July 21. Law Minister Arjun Ram Meghwal moved for its consideration and passage amid the din in the House due to the Opposition's protest. The bill, which seeks to grant STs reservation in the state assembly, was introduced in the House on this day in 2024 and had been pending since. After the passage of the bill, Sandhya Ray, who was in the chair, adjourned the proceedings for the day as protests by opposition MPs continued unabated. Rajya Sabha saw its first adjournment around 11.45 am, when it was adjourned till 2 pm. When Rajya Sabha met at 2 pm, Opposition MPs were on their feet demanding a discussion on the special intensive revision. Amid ruckus, Harivansh, who was in the Chair, took up two statutory resolutions, including one for extending the President's rule in Manipur for another six months. He said it was a constitutional obligation, and told the members that the House has passed only one Bill in the session so far. The Chair also disallowed any remarks made by opposition leaders on issues other than the resolution that was being taken. Opposition MPs continued to raise slogans on the electoral roll revision issue, as a couple of members also tried to participate in the discussion on the resolution for extending President's Rule in Manipur beyond August 13. The resolution to extend the President's rule in Manipur, and the other one of the Finance Ministry to amend the Second Schedule to the Customs Tariff Act, 1975, were passed by voice vote. The Chair then adjourned the House for the day as protests continued. Barring discussions on Operation Sindoor in both Houses, Parliament has seen little transaction of its normal business since the Monsoon session began on July 21. This article was generated from an automated news agency feed without modifications to text.
Economic Times
05-08-2025
- Politics
- Economic Times
Rajya Sabha adjourned for the day amid protests over electoral rolls revision in Bihar
The Rajya Sabha was disrupted again on Tuesday as Opposition MPs continued to press for a discussion on revision of electoral rolls in Bihar. The Rajya Sabha was adjourned for the day soon after approving two statutory resolutions. The Upper House saw its first adjournment around 11.45 am, when it was adjourned till 2 pm. When the Rajya Sabha met at 2 pm, Opposition MPs were on their feet demanding a discussion on the Special Intensive Revision (SIR) of the electoral rolls in Bihar. Amid ruckus, Harivansh, who was in the Chair, took up two statutory resolutions, including one for extending the President's rule in Manipur for another six months. He said it was a constitutional obligation, and told the members that the House has passed only one Bill in the session so far. The Chair also disallowed any remarks made by Opposition leaders on issues other than the resolution that was being taken. Opposition MPs continued to raise slogans on the SIR issue, as a couple of members also tried to participate in the discussion on the resolution for extending President's Rule in Manipur beyond August 13. The resolution to extend the President's rule in Manipur, and the other one of the Finance Ministry to amend the Second Schedule to the Customs Tariff Act, 1975, were passed by voice vote. The Chair then adjourned the House for the day as protests continued. Earlier, in the morning sitting, Congress and other Opposition parties created uproar in the Rajya Sabha soon after the House met, alleging CISF personnel were deployed in the House last week, an assertion vehemently rejected by both the Chair and the government, who said the personnel belonged to parliamentary security services. Protests by Congress and other Opposition parties during the morning session (Zero Hour) led to the adjournment of the proceedings till 2 pm.
