Business
New Income Tax Bill set to be tabled in Parliament next week
New Delhi, Feb 8: Aiming to put more money in the hands of the middle class and simplify the whole filing process, the new Income Tax Bill is set to be tabled in the Parliament next week after receiving approval from the Union Cabinet.
The bill, which was granted approval in the Cabinet meeting chaired by Prime Minister Narendra Modi on Friday, will be introduced in the Parliament next week before it is sent to the Parliament’s Standing Committee on Finance.
Before the Income Tax Bill was cleared by the Cabinet, people in the know said that the legislation would likely provide directions to widen the tax net, given the contraction in the tax base following the exemption limit being raised to Rs 12 lakh in the Union Budget.
The current Income Tax Act was enforced in the country in 1961 and now, the new Income Tax Act is being made according to the needs of the 21st century to replace the existing law, according to sources close to the development.
A review committee was formed for the new Income Tax law in the country to replace the earlier cumbersome law. According to sources, the new Income Tax Bill has been prepared by the government on the recommendation of the committee.
In this era of technology and massive digitalisation, taxpayers can perform several things online on his or her own. In such a scenario, there will be smooth changes in the new I-T Bill for the common man who can understand it seamlessly online. This is an attempt to make the system simple and convenient for common people.
Along with this, the government’s intention behind giving such a big relief to the taxpayers is to increase private consumption which would directly benefit the health of the economy.
Business
Navi Mumbai: CIDCO’s 9.6-Km Kharghar Coastal Road Work To Begin In 2026, Promises Faster NMIA Connectivity By 2029

Navi Mumbai: Construction of the much-anticipated Kharghar Coastal Road — a key link that will enhance connectivity to the upcoming Navi Mumbai International Airport (NMIA) — is expected to commence in early 2026, following the receipt of mandatory forest clearances.
Planned by the City and Industrial Development Corporation (CIDCO), the 9.678-kilometre-long and 30-metre-wide arterial road will connect the airport to major nodes such as Belapur and Nerul, significantly improving regional mobility and supporting economic growth across Navi Mumbai.
The project will also provide direct high-speed access to the International Corporate Park (ICP) being developed on the lines of Bandra Kurla Complex (BKC), the Golf Course, and the FIFA-standard Centre of Excellence (COE) at Kharghar.
A grade-separated interchange over the Sion-Panvel Expressway is part of the plan to ensure smooth traffic flow and reduce congestion between the airport and nearby business and recreational hubs.
Of the total road length, 6.96 kilometres will be newly developed, while the remaining portion will integrate with the existing network. The corridor will also cater to the anticipated transport demand from upcoming projects such as the Water Transport Terminal and Pradhan Mantri Awas Yojana (PMAY) housing schemes in the area.
CIDCO has awarded the construction contract to the J Kumar–J M Mhatre Joint Venture. Officials said the project will not only boost airport connectivity but also strengthen Kharghar’s position as a major residential and commercial hub, linking it seamlessly to Taloja and Navde.
“Known for its well-planned infrastructure, green cover, and educational institutions, Kharghar is poised to witness a new phase of growth once the coastal road becomes operational. Kharghar coastal road is estimated to be ready by 2029 if everything goes as per plan,” an official from CIDCO said.
Business
Telecom operators embrace AI to bolster revenues, drive efficiency globally

New Delhi, Nov 8: Leading telecoms globally are deploying artificial intelligence (AI) across network operations, customer service, and fraud prevention to drive efficiency and reduce costs, according to a new report.
These initiatives are already contributing to EBITDA margin gains, with predictive maintenance and automated support systems leading the way, according to an IDC report.
AI also enables personalised offerings and dynamic pricing, boosting average revenue per user (ARPU) and reducing churn.
Fraud detection systems enhanced by AI are helping reduce losses, reinforcing customer trust and regulatory compliance. With AI accelerating time-to-market for new services, telecoms can better monetize emerging technologies like 5G and edge computing.
“In the longer term, as AI continues to evolve, it will be increasingly recognized not as a mere technological enhancement, but as a strategic enabler poised to drive sustainable growth for telecommunications operators,” said the report.
Meanwhile, worldwide spending on telecommunication and pay TV services is projected to reach $1,532 billion in 2025, representing an increase of +1.7 per cent year-on-year, according to the IDC report.
The latest forecast is slightly more optimistic compared to the forecast published earlier this year, as it assumes a 0.1 percentage point higher growth of the total market value.
The regional dynamics remain mixed, with inflationary effects, competition, and Average Revenue per User (ARPU) trends playing a central role in shaping market trajectories, said Kresimir Alic, research director, Worldwide Telecom Services at IDC.
The breakdown by telecom service type confirms that established trends remain intact, despite adjustments to overall market forecasts.
Mobile continues to dominate, driven by rising data consumption and the expansion of M2M applications, which are offsetting declines in traditional voice and messaging revenues.
Fixed data services are also expected to grow steadily, fuelled by increasing demand for high-bandwidth connectivity.
The global connectivity services market is projected to grow at a compound annual rate of 1.5 per cent over the next five years, maintaining a cautiously optimistic outlook.
Business
Govt plans AI-based eKYC, global credential verification in DigiLocker

New Delhi, Nov 8: The Ministry of Electronics and IT on Saturday announced plans for AI-based eKYC and global credential verification in the DigiLocker platform.
The platform has evolved from a secure document storage service into a trust layer that connects citizens with ministries and departments, according to an official statement.
National e-Governance Division (NeGD), Ministry of Electronics and IT organised the National Conference on DigiLocker to discuss and showcase how DigiLocker evolves into a cornerstone of trust, convenience, and efficiency across government, education, and industry sectors.
The conference underscored the transformative role of DigiLocker in facilitating paperless governance, inclusive education, and secure digital services.
“DigiLocker serves as the trust layer connecting citizens, ministries, and departments—enabling secure, interoperable, and accountable digital governance. Our vision is a future where every digital interaction is trusted, every citizen empowered, and every institution accountable” said S. Krishnan, Secretary of MeitY, who chaired the conference.
Krishnan said that the platform advances India’s digital journey from connectivity to capability, service delivery to self-reliance and now from digitalisation towards trust.
Abhishek Singh, Additional Secretary of the Ministry of Electronics and IT, outlined the future of DigiLocker with AI-based eKYC and global credential verification, positioning it as a global model for paperless governance.
Presentations were made on integration of Digi Locker with Pension and Treasury systems in Maharashtra and with over 500 services through Sewa Setu Portal in Assam, the statement noted.
Seven states, including Assam, Himachal Pradesh, Madhya Pradesh, Meghalaya, Kerala, Maharashtra, and Mizoram, have been recognised as “DigiLocker Accelerators” for their distinct achievements.
DigiLocker allows citizens to access, verify, and share IDs, financial credentials and certificates securely.
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