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News Updates dated 18th April, 2016

• CBEC vide Notification No. 24/2016- Central Excise (N.T.) dated 13^th April, 2016  has notified the CENVAT Credit (Fifth Amendment) Rules, 2016.

• CBEC vide Notification No. 13/2016-Customs (ADD) dated 13^th April, 2016 seeks to levy definitive anti-dumping duty on Normal Butanol or N-Butyl Alcohol, originating in, or exported from the European Union, Malaysia, Singapore, South Africa and USA, for a period of five years.

• Rural consumption beats slowdown. Household consumption of FMCG products in villages grows at almost double the pace of urban areas in 2015; it grows at 5.4% over the previous year.

• National airports operator, Airport Authority of India (AAI) is expected to report an all time high revenue of Rs. 10,000 with an estimated flat profit growth in FY 2016.

• The Department of Financial Services (DFS), which functions under the finance ministry, is examining a proposal to bring all unregulated retirement funds under the purview of the Pension Fund Regulatory and Development Authority (PFRDA).

• Jaitley seeks reform in IMF, World Bank to reflect a larger say for for economies like India.

• The centre will issue an executive order to ensure contract workers get a minimum wage of Rs. 10,000 per month: Union Minister of State for Labour and Employment, Bandaru Dattatreye.

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