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As many as 43,904 refund claims from MSMEs worth Rs 700 crore were settled by the government under the Vivad se Vishwas-I scheme. The scheme allows MSMEs to claim a refund of 95% of performance or bid security and liquidated damages forfeited by government departments and public sector entities during the COVID-19 pandemic. ....
The Union Cabinet, chaired by Prime Minister Narendra Modi, earlier this week approved the Terms of Reference (ToR) of the 16th Finance Commission, which will make recommendations for the five-year period beginning April 1, 2026. Talking to reporters, Somanathan said the working group, which was instrumental in framing the ToR, paid attention to the points raised by states and drafted a ToR that is shorter than those of the previous finance commissions. ....
India s finance secretary, T V Somanathan, has stated that retail inflation is expected to ease by December due to more favorable seasonal factors. Despite remaining above the central bank s tolerance band, inflation has decreased from a 15-month high in July. Sharp increases in food prices have been a major contributor to inflation due to adverse weather conditions. ....
India Business News: India's finance secretary, T V Somanathan, has stated that retail inflation is expected to ease by December due to more favorable seasonal factors. De ....