Deregulation of crude oil sales grants upstream operators marketing freedom while exports remain prohibited and royalties remain uniformly applied.
The Government has ceased allocation of domestically produced crude oil and condensate effective 01 October 2022, granting Exploration and Production operators marketing freedom to sell in the domestic market and waiving the PSC condition to sell only to the Government or its nominees; royalty and cess will continue to be calculated uniformly across contracts while exports remain prohibited.

Production-linked incentive scheme for white goods promotes domestic component manufacturing and employment through targeted incremental sales incentives.
The Production-Linked Incentive (PLI) Scheme for White Goods promotes a domestic component ecosystem for Air Conditioners and LED Lights by providing reducing incentives on incremental sales after a one-year gestation period and five years of incentives, with selected applicants committing to specified investments, manufacturing defined components within prescribed gestation timelines, and contributing to higher domestic value addition, increased production and additional direct employment; four applicants are referred to a Committee of Experts for further examination.

Gig economy expansion projected to reshape workforce; recommends platform-linked finance, skilling and social security integration.
The report provides methodology-based estimates of the gig and platform workforce and recommends targeted policy measures: platform-specific finance products, connecting self-employed sellers to digital markets, platform-led outcome-based skilling, gender sensitisation and accessibility programmes, and extending social security in partnership mode as envisaged in Code on Social Security 2020. It also advises a dedicated enumeration exercise and collection of gig-worker data in official surveys to support evidence-based policy.

Open digital commerce network promotes interoperable app adoption and inclusion of non-digital traders and agricultural producers.
The document summarises ONDC pilot progress with seven ONDC-compatible apps completing cascaded transactions in pilot cities and calls for accelerated rollout, integration with Ministries and States, and industry collaboration. It prioritises inclusion of non-digital traders, artisans and FPOs through targeted pilots, capacity building, hackathons with NABARD, and use of Startup India incubators to develop regional-language apps. A robust policy and governance framework to address consumer grievances-delivery failures, refunds and service deficiencies-is recommended to build trust in the network.

Multilateralism secured protections for vulnerable domestic sectors and advanced developing countries' agenda in WTO negotiations.
India led developing and least-developed country delegations at the WTO Ministerial Conference, securing multilateral decisions and a rare joint statement while ensuring protections for farmers, fishermen and MSMEs. The delegation resisted external pressure, reframed earlier criticisms, and influenced consensus-building so that India's concerns and those of vulnerable constituencies are preserved in the outcome documents.

High pitched scrutiny assessment triggers local committee review and potential administrative action against assessing officers for procedural lapses.
Revised instructions establish Local Committees to review taxpayers' grievances arising from high pitched scrutiny assessments, assess observance of natural justice and application of mind by Assessing Officers/Assessment Units, and, where findings show high pitched assessment, failure of natural justice, non application of mind, or gross negligence, provide for initiation of suitable administrative action against the officer concerned to address grievances and ensure administrative accountability.

Support for Agniveers through targeted bank credit, employment facilitation and use of existing government finance schemes.
Public Sector Banks, Public Sector Insurance Companies and Financial Institutions were requested by the Department of Financial Services to develop modalities to assist Agniveers after completion of their tenure, including employment facilitation, benefits or relaxations for placement consistent with qualifications and skills, and tailored credit facilities for skill upgradation, education, business start ups and self employment, leveraging existing government schemes such as MUDRA and Stand Up India and engaging insurers to consider suitable insurance products.

Special & Differential Treatment must remain a treaty-embedded, non-negotiable principle in WTO reform preserving core multilateral norms.
Reforms must preserve core multilateral norms-non-discrimination, predictability, transparency and decision making by consensus-and must not bypass or dilute multilateral rulemaking. Special and Differential Treatment is a treaty-embedded, non negotiable right for developing members, and reform discussions should occur within the General Council and established WTO bodies to protect development objectives.

Grievance redressal reforms streamline complaint, inspection and disciplinary timelines and mandate agency participation and outcome intimation.
Amendments streamline grievance, complaint, inspection and investigation procedures under the Insolvency and Bankruptcy Code by shortening enforcement timelines, requiring insolvency professional agencies to actively examine grievances against insolvency professionals, and mandating intimation of disciplinary committee outcomes to creditors' committees and the adjudicating authority.

Insolvency evidence rules: creditors must submit transactional GST and e way documentation to support CIRP filings and claims.
Amendments require operational creditors to submit GST return extracts and e way bills with section 9 applications and claims; creditors filing section 7 or 9 must supply PAN and email. The corporate debtor, its promoters and management must provide information as requested by the resolution professional, while creditors must share asset, liability and financial data and audit extracts to assist the information memorandum and avoidance applications. Resolution plans must specify how post CIRP avoidance proceedings will be pursued and proceeds distributed; the regulations define significant valuation differences and allow a creditors' committee to seek a third valuer.

TRIPS waiver lacks practical effect and may not enable vaccine manufacturing or extend to therapeutics and diagnostics.
The statement argues the proposed TRIPS waiver is mainly symbolic and structurally similar to enhanced compulsory licensing, with restrictive terms and a finite timeframe that will deter investors and prevent the establishment of new vaccine manufacturing capacity; it further warns that therapeutics and diagnostics are being excluded from near term relief and calls for a holistic solution covering all three categories.

Merger clearance: acquisition of AirAsia India by Air India consolidates domestic airline operations and related services.
The Competition Commission of India approved Air India Ltd.'s acquisition of the entire equity share capital of AirAsia (India) Private Limited, consolidating shareholding and aligning airline operations under Air India's corporate group. Air India and its subsidiary operate domestic and international scheduled passenger services, air cargo and charter services; AirAsia India operates domestic scheduled passenger, air cargo and charter services but not international scheduled passenger routes. A detailed CCI order will follow.

Competition approval for a biosimilars portfolio transfer and concurrent equity infusion enabling the proposed corporate combination.
The Competition Commission of India approved a cross-border combination where Viatris will sell its global biosimilars portfolio to Biocon Biologics for cash and stock, and Mylan will take equity and convertible preference shares in Biocon Biologics as part consideration, modifying the target's ownership structure; detailed regulatory order to follow.

Regulatory approval of acquisition: foreign investment vehicle cleared to take a minority stake in an Indian wealth manager.
The Competition Commission approved BC Asia Investments X Limited's acquisition of up to 24.98% of IIFL Wealth Management Limited. BC Asia is a Mauritius investment holding company indirectly held by funds linked to private equity, credit investment strategies and a pension fund investor. The target provides tailored wealth management services to high-net-worth and institutional clients in India. The notification concerns a minority share acquisition and a detailed CCI order will follow.

Competition approval of corporate restructuring enables transfer of consumer healthcare assets into a new ownership structure.
The Competition Commission approved the acquisition arising from a corporate restructuring of GlaxoSmithKline Consumer Healthcare Holdings (No.2) Limited under Section 31(1) of the Competition Act, 2002, implemented via a demerger and share exchange that will transfer consumer healthcare interests into newly incorporated Haleon, allocating post-transaction voting rights between GSK and related parties and Pfizer; JVCO (established in 2019) operates in manufacture and distribution of OTC consumer healthcare products, while Haleon presently has no business activities.

WPI inflation rise signals broad-based price pressures across fuel, food and manufactured goods, meriting continued monitoring.
Wholesale Price Index (WPI) inflation for May 2022 is reported at an elevated annual rate driven by price increases in mineral oils, crude petroleum & natural gas, food articles, basic metals, chemicals and non-food articles. The press release explains provisional WPI publication with finalization after ten weeks, notes compilation sources and weighted response rates, and highlights that provisional figures are subject to revision under the WPI revision policy.

Special and Differential Treatment must be preserved to prevent WTO reforms from disadvantaging developing countries.
The statement warns that proposed WTO reforms could skew institutional architecture against developing countries and insists on preserving Special and Differential Treatment and consensus decisionmaking. It urges settlement of a Permanent Solution for Public Stockholding to protect food security for the poor, highlights vaccine inequity exposed by COVID, and demands that any Fisheries Subsidies agreement protect traditional fishermen's livelihoods while aligning trade policy with sustainable development and sensitivity to vulnerable populations.

Rules-based multilateral trading system essential for trade revival; reforms must protect inclusivity, non-discrimination and special treatment.
Strong commitment to a rules-based multilateral trading system is essential for trade revival; WTO reform must reinforce consensus decision-making, inclusivity, non-discrimination and the continued relevance of special and differential treatment. Members should build trust, deliver the mandated decision on public stockholding for food security, and secure a fair outcome in fisheries subsidy negotiations consistent with the Polluter Pays and Common but Differentiated Responsibility principles.

PM Gati Shakti masterplan to improve national logistics efficiency and support economic growth through integrated transport modes and reduced delays.
PM Gati Shakti masterplan establishes an integrated infrastructure and logistics policy coordinating seven transport engines to improve logistics efficiency, backed by a multi-year allocation. Implementation focuses on reducing transportation and inventory costs, eliminating time and cost overruns, and uses a digital platform integrating 600 layers of central, state and ministerial entities for gap identification and priority resolution. Industry collaboration is solicited to streamline delivery and lower national logistics costs to boost export competitiveness and supply chain position.

Cartel enforcement: CCI finds bid rigging in railways tenders, imposes penalties and directs cease-and-desist to firms.
The Competition Commission of India addressed cartelisation and bid rigging in supply of Protective Tubes to Indian Railways under Sections 3(1) and 3(3) of the Competition Act, 2002, initiated on a lesser penalty application under Section 46. Seven firms were found to have coordinated prices, allocated tenders, controlled supply and manipulated bidding, with e-mail exchanges and common IP addresses identified as evidence. Ten individuals were held liable under Section 48. Penalties based on average turnover were imposed with reduction for the leniency applicant, and a cease-and-desist direction was issued.