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Government announces ₹1,435 crore PAN 2.0 Project

Internet

Internet · 9m ago

Government announces ₹1,435 crore PAN 2.0 Project

The government has launched the ₹1,435 crore PAN 2.0 Project to modernize taxpayer registration services and use the Permanent Account Number (PAN) as a common business identifier across specified government agencies. Approved by the Cabinet Committee on Economic Affairs, this initiative aligns with the Digital India vision, emphasizing data consistency, eco-friendly processes, and cost optimization. It integrates and upgrades the existing PAN/TAN ecosystem for enhanced digital services, offering faster and more accessible taxpayer experiences. The project includes advanced PAN validation services, consolidating core and non-core functionalities. Currently, India has issued 78 crore PANs, with 98% belonging to individuals. This e-governance effort aims to improve efficiency, security, and infrastructure agility.

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Government announces Rs 1,435 Cr PAN 2.0 Project

YourStory

YourStory · 9m ago

Government announces Rs 1,435 Cr PAN 2.0 Project

The Indian government has announced the PAN 2.0 Project, with a budget of Rs 1,435 crore, to transform the permanent account number (PAN) into a common business identifier for all government digital systems. This project aims to improve taxpayer registration services by providing easier access and faster service delivery. Additionally, it will ensure data consistency, cost optimization, and enhanced security. The PAN 2.0 Project aligns with the Digital India vision, allowing PAN to be used as a common identifier across specified government agencies' digital systems. Currently, there are 78 crore PANs issued, with 98% being allotted to individuals.

LTIMindtree awarded Rs 792 crore PAN 2.0 project

Economic Times

Economic Times · 24d ago

LTIMindtree awarded Rs 792 crore PAN 2.0 project

The Central Board of Direct Taxes has awarded the PAN 2.0 project to LTIMindtree Ltd for ₹792 crore. LTIMindtree will manage the design, development, implementation, operations, and maintenance of the enhanced PAN system, expected to go live in 18 months, aiming to make PAN a common business identifier for all government digital systems. Existing PAN holders aren't mandated to upgrade but can correct their details in the new system.

Why Protean eGov Tech Shares Dropped Over 25% so far this week- Explained

OutlookIndia

OutlookIndia · 3m ago

Why Protean eGov Tech Shares Dropped Over 25% so far this week- Explained

Protean eGov Technologies' shares plummeted over 25% this week after failing to qualify for the Income Tax Department's PAN 2.0 project selection round. The company's stock, already down 20% on Monday following the announcement, continues to struggle. Despite participating in the bidding process, Protean emphasized that the PAN 2.0 project does not affect their ongoing PAN processing services under the current ITD mandate. The stock has seen a significant drop, being over 50% down from its 52-week high.

Torrent Power wins ₹1,540-crore bid for 306 MW solar power project in Maharashtra

Thehindubusinessline

Thehindubusinessline · 1y ago

Torrent Power wins ₹1,540-crore bid for 306 MW solar power project in Maharashtra

Torrent Power has received a Letter of Award from Maharashtra State Electricity Distribution Co Ltd (MSEDCL) to set up a 306 MW grid-connected solar power project in Maharashtra. The ₹1,540 crore project will be implemented across 48 locations in Nasik district under the MSKVY 2.0 scheme. The project aims to provide stable daytime electricity to agriculture consumers through decentralised solar power projects. Upon completion, Torrent Power's renewable capacity will increase to 3 GW in the next 18-24 months.

Groww’s FY24 Revenue More Than Doubles To INR 3,145 Cr

Inc42 · 10m ago

Groww’s FY24 Revenue More Than Doubles To INR 3,145 Cr

Financial services company Groww has experienced significant revenue growth, with a 119% increase from INR 1,435 Cr in the 2022-23 financial year to INR 3,145 Cr in the following year. Despite this growth, the company maintained operational profitability at INR 535 crore for the year. Additionally, Groww paid around INR 1,340 Cr as a one-time tax on relocating its base back to India.

India Set To Host Two Multi-Billion Dollar Semiconductor Plants: MoS IT Announces

OutlookIndia

OutlookIndia · 1y ago

India Set To Host Two Multi-Billion Dollar Semiconductor Plants: MoS IT Announces

India is set to establish two semiconductor fabrication plants with multi-billion dollar investments, as well as several chip assembly and packaging units. Rajeev Chandrasekhar, Minister of Electronics and IT, confirmed that Tower Semiconductors from Israel has proposed an $8 billion project, while Tata Group has also submitted a project. The government has received four proposals for semiconductor manufacturing plants and 13 for chip assembly and testing units. India aims to become a global leader in electronics manufacturing and hopes to achieve $300 billion of electronics manufacturing by 2026-27.

Govt approves Rs 417 crore electronics manufacturing cluster in UP; set to create 15,000 jobs - The Economic Times

Economic Times

Economic Times · 2m ago

Govt approves Rs 417 crore electronics manufacturing cluster in UP; set to create 15,000 jobs - The Economic Times

The government has approved a Rs 417 crore electronics manufacturing cluster (EMC 2.0) in Gautam Buddha Nagar, Uttar Pradesh, expected to attract Rs 2,500 crore in investment and create 15,000 jobs. The cluster will support the manufacturing of consumer electronics, automotive and industrial electronics, and more. Located strategically along major expressways and close to key transport hubs, it will offer world-class infrastructure for startups and MSMEs, aiming to boost local manufacturing and innovation.

Karnataka's first semicon unit to come up in Mysuru, to add 460 jobs

Economic Times

Economic Times · 8m ago

Karnataka's first semicon unit to come up in Mysuru, to add 460 jobs

The Karnataka government has approved nine projects, including the state's first semiconductor project near Mysuru. Silectric Semiconductor will invest Rs 3,426 crore in the project, creating around 460 jobs. The other projects approved by the state high-level clearance committee involve a combined investment of Rs 9,823 crore, potentially adding 5,605 jobs. The government has urged investors to meet their commissioning timelines, with penalties for delays. The approved projects include investments in IT, engineering, and manufacturing sectors.

Piyush Goyal announces national helpline desk for startups

Economic Times

Economic Times · 4m ago

Piyush Goyal announces national helpline desk for startups

Commerce and Industry Minister Piyush Goyal launched a dedicated Startup India Desk, a national helpline aimed at supporting entrepreneurs in addressing regulatory challenges and government-related issues. Announced at Startup Mahakumbh in Delhi, this initiative offers startups a platform to report concerns, suggest policy improvements, and navigate regulations. Concurrently, the government approved the second Fund of Funds for Startups with a Rs 10,000 crore corpus, focusing on early-stage funding, particularly in deep-tech sectors.

FM announces ₹2-cr loan scheme for first-time women, SC & ST entrepreneurs

Inshorts · 6m ago

FM announces ₹2-cr loan scheme for first-time women, SC & ST entrepreneurs

Presenting Budget 2025-26, Finance Minister Nirmala Sitharaman said the government will launch a new scheme for five lakh women, SC & ST first-time entrepreneurs. Under the scheme, the government will provide term loans of up to ₹2 crore to them during the next five years. Sitharaman said the scheme would provide them with financial resources to pursue their business ideas.

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