Electronics Manufacturing Boost with ECMS Approvals
In a significant move to strengthen India's position as a global manufacturing hub, the government has approved the first batch of seven projects under the Electronics Component Manufacturing Scheme (ECMS). These projects represent a combined investment of INR 55.32 billion (approximately US$625.02 million) and are projected to generate a production output of INR 444.06 billion (US$5.01 billion) while creating over 5,000 jobs. The ECMS, launched in April 2025 with a total outlay of INR 229.19 billion (US$2.58 billion), aims to deepen India's electronics value chain by fostering local production of critical components such as PCBs, camera modules, and copper laminates. This initiative is designed to build a self-reliant and globally competitive ecosystem for electronics component manufacturing, attract domestic and foreign investment, increase domestic value addition, and enhance India's participation in global value chains.
Revised Nutrient-Based Subsidy Rates for Farmers
The Union Cabinet has given its nod to the revised Nutrient-Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for the Rabi season 2025-26, applicable from October 1, 2025, to March 31, 2026. The tentative budgetary requirement for this Rabi season is approximately INR 37,952.29 crore, which is an increase of about INR 736 crore compared to the Kharif season 2025. Specifically, the subsidy for phosphate will see an increase from INR 43.60/kg to INR 47.96/kg, and for sulphur, it will rise from INR 1.77/kg to INR 2.87/kg. The rates for nitrogen and potash remain unchanged. This decision aims to ensure the smooth availability of essential fertilizers to farmers at affordable prices and promote balanced nutrient application for sustainable agriculture.
Kerala's Review of PM SHRI Scheme Sparks Debate
A contentious issue has emerged with Union Minister George Kurian criticizing the Kerala government's decision to review its participation in the PM SHRI (Prime Minister Schools for Rising India) scheme. Kurian warned that such a move could severely impact the state's public education sector and potentially lead to students seeking education in other states. The PM SHRI scheme, launched in September 2022, aims to develop 14,500 schools across India as exemplary institutions showcasing the National Education Policy (NEP) 2020. The Kerala government, which had previously opposed the NEP, had signed an MoU to join the scheme but has now formed a seven-member Cabinet sub-committee to study the matter and has suspended all PM SHRI-related activities pending the report.
Income Tax Return Filing Deadline Extended
In a significant relief for taxpayers, the Central Board of Direct Taxes (CBDT) has extended the due date for furnishing Income Tax Returns (ITRs) for Assessment Year 2025-26 for assessees requiring an audit. The new deadline for filing ITRs has been pushed from October 31, 2025, to December 10, 2025. Additionally, the due date for furnishing tax audit reports for the previous year 2024-25 has been extended to November 10, 2025. This extension comes after representations from tax professionals and various associations, citing heavy audit workloads and technical challenges.
New Seeds Act on the Horizon
Union Agriculture Minister Shivraj Singh Chouhan announced that the Centre will soon introduce a new Seeds Act. The primary objective of this upcoming legislation is to ensure that farmers receive high-quality seeds. This move addresses long-standing demands from the seed industry and the scientific community for amendments to the existing Seeds Act of 1966, to tackle new issues and developments in the agricultural sector. The Minister emphasized the government's commitment to taking strict action against counterfeit seeds and pesticides and introducing stringent legislation to protect farmers.