MSME credit access: banks must appoint senior nodal officers and report weekly to ensure continued lending during formalisation.
Government directive requires public sector banks to appoint a CGM/GM-level nodal officer to analyse MSME credit availability and collect detailed data on credit-taking MSMEs, MSME NPAs, accounts restructured per the RBI circular, newly covered MSMEs, and uncovered MSMEs; weekly reports must be submitted to the Department of Financial Services and the campaign will be supervised by the Executive Director in charge of MSME Financing, while banks must ensure MSMEs are not denied credit during formalisation in accordance with extant guidelines.

Undisclosed foreign assets prompt tax enforcement action after searches revealing concealed income and alleged bank collusion.
Search and seizure operations alleged income concealment, diversion and misappropriation of loan proceeds, and receipt of unaccounted cash in real estate transactions; bank conduct reportedly facilitated concessional settlement and evergreen lending benefiting the promoter. The promoter's undisclosed foreign directorship and foreign bank account were found, exposing him to action under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 and other applicable laws for non declaration of foreign assets and undeclared cash receipts.

Revision of Wholesale Price Index to reassess base year, basket, methodology and a potential transition to Producer Price Index.
The Government constituted a Working Group, chaired by a designated member and serviced by the Office of the Economic Adviser, DPIIT, to revise the Wholesale Price Index (base 2011 12). The Group is tasked to select an appropriate base year for WPI and PPI, review the commodity basket and weights, improve price collection methods (especially in manufacturing), decide monthly computational methodology, examine and refine PPI compilation and presentation including a potential roadmap from WPI to PPI, reassess linking factor computation, and recommend other measures to enhance the reliability of official WPI/PPI series.

Loan agreement advances state highways development, funding institutionalization of a state highways authority and road safety measures.
The Governments of India and Rajasthan executed a Loan Agreement with an international financial institution to finance the Rajasthan State Highways Development Program II to construct, upgrade and maintain 766 kilometres of state highways and major district roads and to fund online contract, data reporting and mobile-app project management systems; the financing supports procurement, quality control and specified loan maturity and grace provisions as the modality for delivering works, capacity building, institutionalization of a State Highways Authority and road safety, gender, accessibility and climate-resilience components.

Loan agreement to strengthen public health systems and capacity in Andhra Pradesh with enhanced quality monitoring.
A Loan Agreement among the Government of India, the Government of Andhra Pradesh and the World Bank provides IBRD financing with extended maturity and a grace period to strengthen public health services. The project will scale up state systems for maternal and non-communicable disease care through capacity building, quality information use, public feedback as a performance metric, certification of health centers, private provider engagement, pharmaceutical stock management, an integrated online patient management system, empanelment of private pharmacies, and patient experience measurement.

Direct tax law reform: Task Force broadens remit to include faceless verification, system cross checks and interagency data sharing.
Reconstitution of a Task Force to draft a new Direct Tax Legislation with expanded Terms of Reference including faceless and anonymised verification/assessment, system-based cross-verification of financial transactions, reduction of litigation through expeditious appellate disposal, simplification to reduce compliance burden, and interagency information sharing between GST, Customs, CBDT and FIU; membership adjusted to include additional nominated and co-opted individuals while prior terms remain unchanged.

Illicit financial flows: experts convene to update threat assessments and strengthen AML/CFT responses to drug related laundering.
A two day Paris Pact expert meeting hosted with UNODC support convenes national enforcement agencies and international experts to share experience, update threat assessments, and identify methods and technical assistance needs to detect, disrupt and prosecute illicit financial flows linked to opiate trafficking, with the objective of strengthening India's AML/CFT framework and operational cooperation.

Angel tax exemption: resident investments via qualifying venture capital funds treated as non-taxable under notified DPIIT conditions.
Angel tax exemption covers amounts received by a company for issue of shares exceeding face value from resident investors when the company fulfils DPIIT notification conditions; CBDT has notified that such consideration will not be treated under the specified income provision for qualifying companies. DPIIT processes applications and forwards eligible declarations to the tax authority, and the revenue department advised against coercive recovery where additions arose after valuation revisions.

Public financial management reform to modernize state systems and strengthen accountability through a World Bank loan.
A loan agreement among the Government of India, the Government of Uttarakhand and the World Bank finances a Project to modernize technical and financial management capabilities of local bodies and state-owned enterprises. Operative components include capacity building in cash and debt management, planning and budgeting, appraisal and monitoring of high-value projects, public audit, transparency measures for budget and procurement information, and deployment of technologies such as GIS to strengthen revenue management systems and improve execution of public projects.

Pre-filled returns and centralized processing enhance return accuracy and expedite electronic refunds while standardizing taxpayer treatment.
The Income Tax Department has increased e-filing and prioritized rapid refunds, mandating ECS credit of refunds and directing issuance of refunds up to Rs. 5,000 without adjustment against outstanding demands. Outreach measures and assistance centres support e-filing adoption. The CPC 2.0 Project will enable pre-filled returns, identity-blind, rule-driven centralized processing, improve transparency via status updates and digital communications, and establish integrated contact centres to streamline processing and taxpayer services.

Investment policy reforms broaden FDI and infrastructure funding measures to boost investment and regional industrial corridors.
Policy measures advance Foreign Direct Investment liberalisation, ease of doing business reforms, fiscal incentives including a reduced corporate tax rate for smaller companies, and targeted MSME support; they prioritise infrastructure financing by activating the National Investment & Infrastructure Fund and mainstreaming Infrastructure Investment Trusts and Real Estate Investment Trusts, with periodic review of infrastructure sub sectors. A regional Defence Industrial Corridor for Bundelkhand has been initiated with specified nodal points, and annexural data on FDI, portfolio inflows, and Gross Capital Formation are provided to monitor investment trends.

Confidentiality of internal salary disbursal order applies only to CGA and PFMS Project Cell; unauthorised circulation may attract penalties.
The Department of Expenditure's Order dated 18 June 2019 on June salary disbursal is temporary and applies only to the Office of the Controller General of Accounts and officials in the PFMS Project Cell to avoid exceeding the Vote on Account limit; the Order is confidential and unauthorised circulation may attract punitive action.

Public debt issuance rose with longer maturities and lower yields, supported by cash management bills and RBI liquidity operations.
Central Government debt management in Q4 FY2018-19 showed increased dated securities issuance with a weighted average maturity above a decade and softened weighted average yield; cash-flow mismatches were managed via Cash Management Bills and net liquidity injection under the Liquidity Adjustment Facility. Public debt formed the majority of outstanding liabilities, a notable share of dated securities had residual maturities under five years, holdings were concentrated in commercial banks and insurance companies, and secondary market yields softened amid monetary easing and open market operations.

Fund of Funds support through SEBI-registered AIFs requires matched investment into qualifying startups under the Startup India programme.
The Government provides indirect financial support through a Fund of Funds for Startups that contributes to SEBI-registered AIFs, which must invest at least twice FFS contributions into qualifying startups; each AIF's Investment Committee decides investments based on factors like novelty, intellectual property and business potential.

Ease of Doing Business reforms improve regulatory environment and streamline company incorporation and compliance processes.
DPIIT coordinated a national reform programme across ten Doing Business lifecycle indicators to streamline company incorporation, construction permitting, electricity connections, credit priority, tax consolidation into Goods and Services Tax, trade facilitation, contract enforcement and insolvency processes, and to implement state and district action plans through single-window systems, online registrations, reduced documentation, digitised social security payments and capacity-building to improve the regulatory environment.

Compulsory retirement under Fundamental Rules: IRS officers retired immediately in public interest with prescribed limited pay entitlement.
Compulsory retirement of 15 IRS (C&CE) officers has been effected in public interest under Clause (j) of Rule 56 of the Fundamental Rules with immediate effect on completion of fifty years; separate orders issued and each officer to receive pay and allowances equivalent for three months calculated at the rate payable immediately before retirement.

Compounding of offences: revised guidelines set eligibility, exclusions, competent authority, fees and procedural timelines for direct tax cases.
Revised Guidelines govern discretionary compounding of offences under the Income-tax Act, 1961, effective 17 June 2019. They classify Chapter XXII offences into Category A and B, prescribe strict eligibility conditions (prescribed affidavit, prior payment of tax/interest/penalty, undertaking to pay compounding charges and withdraw related appeals), set exclusions (repeat offences, convictions, involvement in organised evasion or matters under investigation by specified agencies, offences linked to undisclosed foreign assets or designated statutes), and establish procedural mechanisms: competent authorities, Committee approvals for high-value cases, reporting by assessing officers, timelines for intimation and payment, and computation of compounding charges including fee, prosecution and litigation expenses.

Tariff value revision for specified edible oils, metals and agricultural commodities alters customs valuation and notification application.
The Central Board of Indirect Taxes & Customs has, under powers in the Customs Act, substituted TABLE-1, TABLE-2 and TABLE-3 of an existing customs notification to fix revised tariff values for listed imports. The substitution specifies US dollar per metric tonne values for various palm oil and palmolein categories, crude soyabean oil, brass scrap, poppy seeds and areca nuts, and prescribes per-unit US dollar tariff values for gold and silver where specified notification benefits are availed, thereby updating the customs valuation references for these commodities.

Treaty anti abuse measures enable multilateral modification of tax treaties to prevent profit shifting and protect tax bases.
Ratification adopts the Multilateral Convention from the OECD/G20 BEPS Project to modify existing tax treaties by operating alongside covered tax agreements, implementing agreed minimum anti abuse standards and enabling profits to be taxed where substantive economic activity and value creation occur.

Tax search and seizure uncovers undeclared assets and alleged bank collusion, revealing inflated project costs and layered transactions.
Income Tax Department search and seizure uncovered systematic non filing, a loan restructuring with a regional bank effected through alleged bank officer connivance and repayment layering via an associate, alongside undisclosed property sales, an agreement to sell a business, inflated project costs to claim subsidy through bogus bills, and seizure of digital evidence now under analysis.