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    Foreign investment for technological upgradation and modernisation in Railways
    Text of the PM’s statement ahead of the beginning of the Monsoon Session of Parliament
    Amendment in RTI Act
    Promotion of GI Products
    FDI Inflow reaches 61.96 USD Billion in 2017-18
    Cabinet approves the Mutual Recognition Agreement (MRA) signed in 2010 and approves fresh MRA between the Institute of Chartered Accountants of India ...
    PFRDA Invites Expression of Interest (EOI) for Actuarial Valuation of Atal Pension Yojana
    It will be endeavour of the 15th Finance Commission that performance is not penalised and virtues of efficiency and equity are suitably recognised –...
    Index Numbers of Wholesale Price in India (Base: 2011-12=100) Review for the month of June, 2018
    India poised to pip Britain to become 5th largest economy next year: Jaitley
    India a Key Player in Generic Medicines – Suresh Prabhu
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    First meeting of Sub-Group of Chief Ministers on coordination between MGNREGA and Agriculture held at NITI Aayog
    CCI passes order under Lesser Penalty Provisions against broadcasting service providers for rigging bids in tenders by Sports Broadcasters
    Director of a company arrested for evasion of Service Tax
    Competition Commission of India (CCI) issues order against South Asia LPG Company Pvt. Ltd. (SALPG) for abuse of dominant position for terminalling se...
    Madhya Pradesh Leg of Startup India Yatra begins on July 16th, 2018
    Major Steps taken for Reducing Tax Litigations
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July 20, 2018
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Foreign Direct Investment in rail infrastructure permitted on automatic route, enabling PPPs and targeted modernization measures.
The policy permits Foreign Direct Investment (FDI) on the automatic route in specified railway infrastructure activities: suburban corridor projects via public private partnership, high speed train projects, dedicated freight lines, rolling stock manufacturing and maintenance, railway electrification, signalling systems, passenger terminals, industrial infrastructure connected to rail lines, and mass rapid transit systems; it also states that these permissions do not constitute privatisation and that PPPs and outsourcing for certain non core services are allowed on a need basis to improve efficiency.
July 18, 2018
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Parliamentary deliberation urged to prioritise productive debate and scrutiny, with government open to discuss any issue including monsoon impacts.
A call for focused parliamentary deliberation and effective use of legislative time, urging all political parties to cooperate in maximising the houses' time during the Monsoon Session so experienced members can contribute quality suggestions. The government affirms readiness to discuss and debate any issue raised by parties or members, and identifies monsoon-related heavy rains and rainfall deficits as relevant matters for parliamentary attention and policy examination.
July 18, 2018
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Enabling provision for rulemaking on salaries and service conditions of information commissioners proposed under RTI Act.
The proposed amendment would insert an enabling provision in the Right to Information Act permitting rulemaking for salaries, allowances and conditions of service of the Chief Information Commissioner, Information Commissioners and State Information Commissioners, filling a present statutory gap; the Bill has been prepared following consultations with administrative and legal departments and a notice issued for its introduction in the Rajya Sabha.
July 18, 2018
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Promotion of Geographical Indications mandates state facilitation, producer training and anti-counterfeiting measures to protect GI authenticity.
Promotion of Geographical Indications is pursued through coordinated promotional activities including social media and events, with States and Union Territories required to appoint nodal officers, establish State Facilitation Cells for each GI, provide training to GI producers, undertake consumer awareness measures, and take action against manufacture and sale of counterfeit GI products to protect GI authenticity.
July 18, 2018
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FDI policy liberalization drove record foreign direct investment inflows, reflecting improved ease of doing business climate.
Measures of FDI policy liberalization and improved ease of doing business are identified as drivers of sequential increases in total foreign direct investment inflows, producing the highest annual figures in the recent series and surpassing preceding financial years; year wise provisional data for 2013 14 through 2017 18 are supplied in a ministerial parliamentary reply.
July 18, 2018
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Mutual recognition agreement approved to promote mutual cooperation and professional mobility between Indian and Irish accountancy bodies.
Executive approval was granted for the Mutual Recognition Agreement between the Institute of Chartered Accountants of India and the Institute of Certified Public Accountants, Ireland, endorsing the 2010 MRA ex post facto and approving a fresh MRA to create a mutual cooperation framework to advance accounting knowledge, professional and intellectual development, and member interests, thereby enabling exchange of best practices and expanding members' capacity to serve new markets.
July 18, 2018
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Actuarial valuation for guaranteed pension: EOI invited to assess shortfall and recommend gap-funding for APY.
PFRDA issued an Expression of Interest seeking a reputed actuary or actuarial firm to perform an actuarial valuation of Atal Pension Yojana to estimate shortfalls from the scheme's guaranteed pension commitment and recommend appropriate gap-funding provisions; the EOI (18 July 2018) is on PFRDA's website and requires firms to have valued at least ten funds in the preceding five years, including at least two funds of minimum five thousand crore size.
July 18, 2018
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Fiscal devolution balance: recognise state performance without penalising efficiency while addressing legacy debt and infrastructure gaps.
15th Finance Commission will ensure that performance is not penalised and that efficiency and equity are recognised in fiscal devolution, balancing recognition of state-level reforms and innovative financing against structural legacy issues such as a substantial debt overhang. The Commission noted low capital expenditure as a share of total expenditure and welcomed the state's assurance of increased capital outlay. It also recorded state proposals to include locational complexities and social backwardness in devolution criteria and requests for revenue deficit grants and infrastructure gap funding, and will continue consultations and field visits before finalising recommendations.
July 16, 2018
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Wholesale price inflation rises, broad based gains in primary articles, fuel and manufactured products lift annual WPI.
Wholesale Price Index (Base 2011-12=100) rose month on month to record a higher annual inflation rate in June 2018, with primary articles, fuel & power and manufactured products all contributing. Primary articles saw gains in food and non-food agricultural items and minerals, and crude petroleum & natural gas rose sharply. Fuel & power increased due to higher mineral oil and electricity prices. Manufactured products experienced mixed movements across subgroups. The WPI Food Index also increased and April 2018 final WPI and inflation figures were revised.
July 14, 2018
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Economic growth projection: India poised to overtake Britain, with rural-focused policies countering energy and trade headwinds.
Projection that India will surpass Great Britain to become the world's fifth-largest economy if current expansion continues; risks include rising crude oil prices and global trade tensions. The government emphasises directing resources and expenditure to rural and less-privileged populations through programmes to raise incomes, expand social security, improve healthcare, and accelerate poverty reduction, aiming to translate aggregate growth into better living standards.
July 13, 2018
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Pharmaceutical sector growth projected to drive market expansion and global opportunities while emphasising consumer protection.
India's pharmaceutical sector is identified as a global leader in generic medicines, with market advancement driven by a growing middle class and improved medical infrastructure. The text highlights India's genomics research potential and calls for balancing sectoral growth with consumer protection. It notes export opportunities in African and Latin American markets and frames the industry as a contributor to broader economic objectives, referencing recent compound annual growth and revenue increases to contextualize the sector's trajectory.
July 13, 2018
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Harbour infrastructure development contingent on maritime board approval to support fisheries and expand tourism.
A proposal for a breakwater harbour at Nivati-Medha has been submitted to the Maharashtra Maritime Board under a national infrastructure initiative; officials were directed to expedite construction contingent on the Board's approval. The project is framed as a regulatory approval-dependent infrastructure measure intended to secure fishing operations and enable cruise-ship docking to stimulate local tourism and economic development.
July 13, 2018
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Trade and logistics cooperation: workshop agreed to streamline logistics and strengthen supply chains to boost export competitiveness.
Discussions with the World Bank focused on collaboration to develop a National Integrated Logistic Policy emphasising expanded storage and warehousing, value added services, and multimodal logistics parks to reduce logistics costs and improve export competitiveness; parties agreed a workshop to identify specific interventions and product specific supply chain measures to integrate Indian products into global value chains.
July 13, 2018
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Abuse of dominant position restricting player participation leads to sanction and mandated reform of authorisation and disciplinary rules.
The Commission found the federation abused a dominant position by restricting player participation in unauthorised events, thereby denying market access and imposing unreasonable vertical restraints in contravention of Sections 4(1), 4(2)(b)(i) and 4(2)(c), and amounting to exclusive distribution and refusal to deal under Sections 3(4)(c) and 3(4)(d). The federation was directed to cease such conducts, adopt fair and transparent authorisation parameters for tournaments, ensure proportional disciplinary processes with demonstrated prejudice, review similar cases, and report compliance within sixty days, with a penalty imposed for the conduct.
July 12, 2018
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Coordination between MGNREGA and agriculture to use employment for reducing costs and improving agricultural assets and markets.
Coordination between MGNREGA and agriculture was advanced by a Sub-Group of Chief Ministers convened at NITI Aayog to identify uses of MGNREGA employment and funds that support agriculture while preserving the scheme's principles. The meeting identified five intervention areas-reducing cultivation costs; improving production through efficient water and input use; incentivising aggregation and market infrastructure; rehabilitation of land and assets after natural hazards; and promoting diversification-alongside farm fencing. The Sub-Group stressed maintaining labour rights and the asset creation spirit and agreed to five regional stakeholder workshops to finalize proposals.
July 12, 2018
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Cartel enforcement: regulator found bid rigging in broadcasting tenders and applied lesser penalty reductions to applicants during procurement.
Regulator found two broadcasting service providers formed a cartel by exchanging information and coordinating bid prices in tenders for end to end broadcasting services for sporting events, infringing the prohibition on agreements limiting competition; penalties were computed on a profit based formula and against individuals' incomes, and reductions under the Lesser Penalty regime resulted in full reduction for one applicant and partial reduction for the other, leaving monetary liability only for the latter.
July 12, 2018
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Power to arrest for deliberate tax evasion against directors; deters large-scale fraudulent non-deposit of collected tax.
Arrest was effected of a company director for alleged withholding of collected service tax and failing to deposit it to the government exchequer, invoking the power to arrest under Section 91 of the Finance Act, 1994 read with Section 174 of the CGST Act, 2017; the director was produced before the magistrate and remanded to judicial custody while further investigation continues.
July 11, 2018
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Abuse of dominant position: mandatory infrastructure tying in terminalling services prohibited and access must be allowed subject to safety conditions.
The Commission found SALPG dominant in upstream terminalling services at Visakhapatnam Port and concluded that mandatory use of SALPG's cavern and refusal to permit tap outs, tap ins or independent blenders amounted to exclusionary tying and refusal to deal in contravention of Section 4. The remedy requires unrestricted bypass of the cavern or access to competitors on safety compliant terms without imposing additional cost burdens on rivals, cooperation with an audit/study, and a prohibition on conduct that raises rivals' costs; a monetary penalty was also imposed.
July 11, 2018
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Startup India initiative expands grassroots startup outreach via mobile yatra to promote incubation and ecosystem development in smaller towns.
The Startup India Yatra will travel to ten Madhya Pradesh cities starting July 2018 to raise awareness of the national initiative and State Startup Policy, conduct college boot camps and pitch fests, record entrepreneur pitches via a technology partner for evaluation and selection, and channel shortlisted ideas into state and national incubators to foster entrepreneurship and job creation.
July 11, 2018
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Appeal threshold increase reduces departmental tax litigation, narrowing filings to higher value disputes and significant legal questions.
Government increases appeal monetary thresholds for departmental tax appeals to reduce low value litigation and focus resources on higher value disputes; the change covers ITAT/CESTAT, High Courts and the Supreme Court and is projected to generate substantial withdrawals and reduced future litigation flow. The reform applies to both direct and indirect tax caseloads but excludes cases involving a substantial point of law, which remain appealable despite the higher cutoffs.

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