DOT extends the last date for submission of Applications for Design-led manufacturing under Production Linked Incentive Scheme for Promoting Telecom and Networking Products Manufacturing in India.

DOT notified the Production Linked Incentive (PLI) Scheme on 24th February 2021, with the objective to build a strong ecosystem for 5G, the Guidelines for the PLI Scheme for Telecom & Networking Products have been amended with effect from 1 st April 2022 to introduce Designled Manufacturing with additional one percent incentive rates.

Ministry of Chemicals and Fertilizers notifies the scheme for Promotion of Medical Devices Parks.

In order to attract investments in this sector, the Government has allowed 100% foreign direct investments (FDI) in medical devices sector. Similarly, the Government has allowed 100% FDI in pharma sector for greenfield projects under automatic route. For the brownfield projects, upto 74%, FDI investments are allowed under automatic route and beyond 74% to 100%, FDI investments are allowed under government approval route.

The Central Motor Vehicles (Eleventh Amendment) Rules, 2022.

Every vehicle of categories N2 and N3, manufactured on and after the 1st Day of September, 2022, in the case of new models, and 1st day of January, 2023, in the case of existing models, carrying dangerous or hazardous goods, shall be fitted with a vehicle tracking system device as per AIS 140

RBI increases policy Repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis.

Consequently, the standing deposit facility (SDF) rate and marginal standing facility (MSF) rate stand adjusted to 5.15 per cent and 5.65 per cent respectively which was decided by the Monetary Policy Committee (MPC). The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting