• On Tuesday (September 24, 2019), the Indian rupee dropped by 7 paise to close at 71.01 against the US dollar as foreign fund outflows and subdued equities weakened forex market sentiment.
  • Indian Environment, Forest and Climate Change Minister Prakash Javadekar has said that industry has undertaken to go on the low-carbon path to fight climate change but availability of affordable technology poses a problem.
  • Javadekar said that the UN’s Industry Transition Track for tackling climate change will work with various countries to solve the problem through joint efforts and research.
  • Those dealing with low profits on technologies for transitioning to low-carbon emissions by industries are “very much essential to bring us to low carbon path”, he said.
  • Infrastructure companies and businesses operating in special economic zones are unclear whether to migrate to the new regime of lower corporate tax. There is confusion whether and, to what extent these companies can use the accumulated credit on account of minimum alternate tax (MAT) paid by them when their tax holiday comes to an end or when they choose to opt for the new, reduced tax regime. 
  • The new tax ordinance has cut the corporate tax rate for existing companies to 22% (25.17% – including cess and surcharge) by inserting a new Section 115BAA. Existing companies have an option to avail this lower rate if they are willing to forego existing tax deductions. 
  • Under Smart Cities initiative which is spread over 100 cities about 3,880 projects worth Rs 1.41 lakh crore have been tendered, out of a total of about 5,000 projects.
  • Kunal Kumar, Joint Secretary, Smart Cities Mission Director, Ministry of Housing and Urban Affairs, said “3,100 projects worth ₹1,00400 crore are grounded, and completed 1,100 projects worth over ₹20,100 crore.”
  • The trade unions estimated that the one-day strike against the Centre’s decision to allow 100% FDI in mining has caused a 2.13 million tonne drop in coal production and a loss of ₹4,000 crore
  • The Centre is giving a strong push to increase cargo handling through coastal shipping and Inland Waterways (IW) with plans to nearly double the volume through these two modes of transport by 2025.
  • In 2018-19, a total of 192 million tonnes of cargo was handled in both coastal shipping and IW. The aim is to reach volume of 370 million tonnes by 2025, with 220 million tonnes coming from coastal shipping and 150 million tonnes from inland waterways, said Abhishek Chandra, Deputy Secretary, Sagarmala Development Company Ltd.