The Engineering Export Promotion Council of India (EEPC India) and the Indian Stainless Steel Development Association (ISSDA) on Tuesday signed an MoU to promote exports by MSME members.

The two organisations will collaborate to identify potential export products and organise trade exhibitions, buyer-seller meets, and economic summits, an EEPC statement said.

The government is considering a proposal to increase ethanol prices for the season starting November 2024, while also pushing for diversification of feedstocks, as it aims to achieve the 20% blending target by 2025-26, sources told news agency PTI.

A committee headed by a joint secretary from the petroleum ministry has already held one round of discussions on the proposal. The revision of ethanol prices will be based on the fair and remunerative price of sugarcane, they added.

Union Finance Minister Nirmala Sitharaman on Tuesday justified the present taxation regime, saying that the country needs resources to meet the challenges facing the nation and also to fund research and development activities.

Sitharaman was addressing the 11th convocation of Indian Institute of Science Education and Research (IISER) in Bhopal.

Inventurus Knowledge Solutions Ltd, which provides healthcare support services, has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).

The company's IPO is entirely an Offer For Sale (OFS) of up to 2.82 crore equity shares by promoters and individual shareholders, with no fresh issue component, according to the Draft Red Herring Prospectus (DRHP).

The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, will meet on September 9.

"The 54th Meeting of GST Council will be held on 9th September, 2024 at New Delhi," the Council said in a post on X.

The meeting is expected to start discussion on rate rationalisation, reducing tax slabs, besides removing duty inversion under GST.

Inox Wind said it has secured a 51 MW equipment supply order from Everrenew Energy Private Ltd

Additionally, Inox Wind will provide post commissioning multi-year operations & maintenance (O&M) services, a company statement said, adding that this is an equipment supply order for Inox Wind's latest 3 MW Wind Turbine Generators (WTGs).

Central and state GST officers will launch a pan-India special two-month drive against fake registration beginning August 16, the Central Board of Indirect Taxes and Customs (CBIC) said.

This is the second such drive to identify fake registrations under Goods and Services Tax (GST). Fake GST registrations are usually taken to fraudulently avail and pass on input tax credit and evade GST.

India has the potential to become a $55 trillion economy by 2047 if state and central governments work hard to implement policies that will take the country's growth from “what has been historically 7 % to 8% (in rupee terms)”, Krishnamurthy V Subramanian, Executive Director of the International Monetary Fund (IMF) said.

He also said India’s private credit to GDP ratio was 58% in 2020, six decades behind the advanced economies which are now at 200%, though there is phenomenal work being done in terms of financial inclusion through schemes like 'Pradhan Mantri Jan-Dhan Yojana'.