Top Headlines: Trai Slashes 5G Spectrum Base, Ambani’s Net Zero Plan
The Department of Finance has asked IT firm Infosys to find ways to accurately access real-time taxpayer data, as it is crucial for making decisions on policy changes. Meanwhile, TRAI paved the way for next-generation spectrum auctions by reducing the reserve price of 5G waves in the 3300-3670 MHz band by around 36%. More on these stories in our headlines this morning
The Ministry of Finance asks Infosys to work on ways to accurately access taxpayer data
The Ministry of Finance (FinMin) asked Infosys to work on ways to more quickly and accurately extract and access real-time taxpayer data, as it is crucial for making decisions on policy changes. While reviewing the progress of the Income Tax Portal 2.0, which had encountered issues, officials also asked the Infosys team to increase the scope of pre-populated data in ITR forms.
Senior ministry officials held a review meeting last month with the Infosys team and Central Processing Center officials. Read more here
Trai reduces the base price of 5G spectrum in the 3300-3670 MHz band by approximately 36%
India’s Telecommunications Regulatory Authority (Trai) has paved the way for next-generation spectrum auctions by slashing the reserve price of 5G waves in the 3300-3670 MHz band by around 36%.
It approved the establishment of private networks by access providers and recommended an administrative allocation of spectrum, an idea opposed by telecommunications companies. Read more here
Covid-19 booster shots paid for: Experts divided on government intervention
With the rollout of paid Covid-19 boosters having gotten off to a slow start, experts believe that to ensure universal coverage the government may need to step in and offer free doses of precautionary vaccines at some point.
Some experts also believe it is time to strengthen surveillance, testing and epidemiological data collection rather than achieve marginal improvements in vaccination coverage or boost immunity. Read more here
A GST Council meeting is unlikely this month as some issues could not be addressed
The Goods and Services Council meeting may not take place this month as some key issues, such as rate rationalization, could not be addressed. Moreover, the Group of Ministers (GoM) has not yet taken a position on this.
The panel was due to submit a report last month and suggest various measures to increase revenue, including hiking the lowest slab and streamlining the slab. Read more here
Mukesh Ambani’s Net Zero Plan: Inside RIL’s Unique Energy Transition Story
Reliance Industries Ltd’s strong cash flow generation in the “best in class” old energy business can fund new energy business capital expenditure and in turn drive one fastest and most cost-effective net-zero transitions by 2035 among major energy companies, Goldman Sachs said.
In 2020, billionaire Mukesh Ambani has set a 2035 target for Reliance, which operates the world’s largest single-site oil refining complex and also has an array of petrochemical units, to achieve net zero carbon. by 2035. Learn more here