Tariff value revision for specified imports alters customs valuation and import duty assessment basis under notification substitution.
Revision of tariff value schedules substitutes TABLE 1, TABLE 2 and TABLE 3 of Notification No. 36/2001 Customs and sets amended tariff values in US dollars for specified imports including crude palm oil and derivatives, crude soybean oil, brass scrap, poppy seeds, areca nuts, and specified categories of gold and silver, thereby providing fixed customs valuation benchmarks for assessment of those imports.

Export incentives: duty drawback, exemptions and tax deductions supported; refunds expedited to address exporter delays.
Duty drawback, Central Excise rebate and Cenvat credit refund mechanisms neutralize indirect tax incidence on inputs for exported goods; sectoral duty free entitlements and DGFT administered schemes (advance authorizations, duty free import authorizations, EPCG and export incentive schemes) support exporters. Income tax provisions permit deductions for export derived profits and other business deductions. The Government has received representations about delayed tax refunds and directed field formations to ensure prompt disbursement of rebate and refund claims.

Social security consolidation: national life insurance scheme provides death and disability cover for self employed weavers.
Aam Admi Bima Yojana, following merger of the earlier scheme, is implemented through a designated life insurer and provides death and disability cover to self-employed handloom and Khadi weavers affiliated with Khadi institutions and boards, within a prescribed age band; it is not a health insurance scheme. Annual administrative data on lives covered, premium allocations and claims paid for the handloom and Khadi weaver category are compiled in an annex and reported to the legislature.

Gold ETF regulation permits limited investment in bank gold deposit schemes, maintains daily NAV disclosure and no guaranteed returns.
Gold ETFs invest in gold and gold related instruments with returns tied to the underlying, publish daily net asset value, and do not guarantee returns. A regulatory change allowed limited investment of Gold ETF schemes in bank Gold Deposit Schemes instead of exclusively holding physical gold. Fiscal and external sector measures, including higher customs duties and an import rationalisation mechanism for nominated importers, were employed to contain gold imports and address current account pressures.

Prevention of Black Money in Securities: SEBI interim directions identify misuse of trading to generate exempt long term capital gains.
SEBI's anti money laundering framework under the Prevention of Money laundering Act requires all SEBI registered intermediaries to prevent entry of illicit funds into securities trading; preliminary inquiries resulted in interim directions finding multiple companies acting in concert to misuse the stock exchange system to generate bogus Long Term Capital Gains (LTCG) claimed as tax exempt.

No fault liability expands third party compensation, encouraging alternative dispute resolution to speed motor-accident claim resolution.
Motor third party claims generally proceed through courts when liability is disputed; where liability is undisputed insurers are encouraged to use Lok Adalat and out of court settlement. IRDAI enforces time limits for claim resolution and operates an Integrated Grievance Management System to track complaints. Legislative proposals seek enhanced third party compensation via a structured formula and capped liability for minimum premium policies. Section 140 of the Motor Vehicles Act applies the No Fault principle allowing compensation without proving wrongful act.

Deregulation of deposit rates lets banks set savings and term interest subject to uniformity and recovery compliance rules.
Banks may set term and savings deposit interest rates subject to board approval, with a mandatory uniform rate for savings up to one lakh and permissible differentiated rates above that without customer discrimination. The Base Rate framework deregulated rupee lending rates, allowing banks to determine spreads, risk premia and other pricing elements while preserving defined exceptions where loans can be priced without reference to the Base Rate. Banks are required to maintain Board-approved loan recovery policies and use statutory recovery mechanisms, supplemented by early-detection systems to improve asset quality.

Early Warning System to monitor bank loan stress identifies risky borrower accounts and enables timely corrective action.
Early Warning System established to detect incipient asset stress in performing loan accounts by monitoring accounts against a set of automated triggers and flagging riskiness for timely remedial planning, with proactive telephonic engagement of stressed retail and real estate borrowers through tied Business Process Re-engineering centres to enable early intervention.

Financial inclusion committee reconstituted to monitor bank inclusion and literacy plans and prepare a national strategy.
Reconstitution of the Financial Inclusion Advisory Committee to monitor banks' Financial Inclusion Plans and Financial Literacy initiatives, evaluate their impact through studies and surveys, and prepare and monitor a National Strategy for Financial Inclusion converging stakeholder efforts.

E-verification of tax returns: electronic verification via internet banking, Aadhaar or EVC removes need for paper ITR-V submission.
Administrative measures streamline tax compliance by enabling online PAN/TAN allotment, single-page bank challan, online tax payment, viewing of tax credits, e-filing of income-tax and TDS returns, centralized processing with electronic intimations, ECS direct credit of refunds, online rectification, Tax Return Preparer assistance, and Aayakar Seva Kendra single-window services; E-verification of returns is enabled via Internet banking or Aadhaar, with EVC issuance for eligible taxpayers to avoid submission of paper ITR-V, and paper ITR-V remains acceptable by post within the specified 120-day period.

Declaration of undisclosed foreign assets: rules set form, valuation methods, Form 6 filing, payment and acknowledgement.
The Rules prescribe the form and manner for declaring undisclosed foreign assets, including electronic filing via Form 6, and establish methods to determine fair market value for various asset types. Declarations meeting statutory requirements require payment of tax and penalty and intimation to the designated tax authority; after payment intimation the authority must issue an acknowledgement within 15 days. The statute shields declaration contents from admissibility in related penalty or prosecution proceedings and accompanying explanatory and FAQ circulars have been issued.

Electronic Verification of Income Tax Returns via Aadhaar and net banking expedites processing and removes paper ITR V dispatch.
Electronic verification of income tax returns via Aadhaar linkage and net banking replaces dispatch of ITR V hard copies, enabling taxpayers to verify returns electronically and expediting processing and refund issuance. Taxpayers are encouraged to adopt the Electronic Verification facility for convenience and early e filing to avoid peak period delays; an official notification provides procedural details.

Timely grievance redressal improves taxpayer service delivery through multi-layered complaint mechanisms, service centres and training.
Timely grievance redressal and enhanced public service delivery are prioritized through a multi-layered grievance redressal mechanism using centralised online portals, taxpayer service centres, and processing-centre grievance handling. The Department is expanding service centres, instituting training and tenure certainty for centre staff, and improving systems to expedite disposal of rectification applications. Performance monitoring targets improved disposal rates, reduced pendency, and time-bound quality service through periodic review and process reform.

Tax exemption for disaster relief remittances to Nepal clarified; application checklist expanded with foreign contribution details.
Procedure for claiming tax exemption under 11(1)(c) requires NGOs to submit organisational instruments, tax registration and PAN, registration under tax law, recent returns and assessment orders, details of pending prosecutions or FCRA proceedings, a note on past relief experience, particulars and break ups of proposed remittances (financial and material), sources of funds, distribution mechanism, donor undertakings to follow Nepal's aid criteria, and completed Schedule VII; the SOP adds disclosure of amounts and sources of foreign contributions with year wise break up for intended applications outside India.

Loan agreement supports urban health mission by strengthening primary care and using results-based lending for state flexibility.
Loan agreement between the Government of India and the Asian Development Bank supports the National Urban Health Mission by reinforcing urban health systems to deliver quality services to the urban poor, focusing on strengthening primary health care, promoting coordination between health and urban sectors, enabling public-private partnerships, involving urban local bodies in planning and delivery, and providing capacity building and technical assistance to strengthen NUHM systems and implementation.

Territorial jurisdiction for cheque dishonour clarified: proceedings must follow the payee's bank branch location and be consolidated.
Territorial jurisdiction for cheque-dishonour prosecutions is fixed to the court local to the payee's bank branch where the cheque was presented through the payee's account, with bearer cheques attracting the jurisdiction of the drawee branch's local court; subsequent complaints against the same drawer must be lodged in the same court, and multiple prosecutions before different courts must be transferred to the court having jurisdiction under the new scheme.

Simplification of income tax return forms for non-business individuals reduces main form length and shifts detailed computation to schedules.
ITR forms for individuals and HUFs without business or professional income have been simplified by shortening ITR Form Nos. 2 and 2A and moving computation-relevant details into schedules to be filled only if applicable; PAN allotment is effected through manual and online applications via designated service providers while the Department pursues ongoing technological improvements.

Interoperable cash deposit approved in principle subject to conditions, with a pilot to follow after final clearance.
In-principle approval has been granted for an Interoperable Cash Deposit facility within the National Finance Switch, subject to regulatory conditions; participating banks would accept deposits for other banks via Cash Deposit Machines with a per-transaction cap, and a pilot rollout is planned after final clearance.

Corporate agent regulation: revised exposure draft declines to impose sales limits on banks distributing insurance products.
The Authority treated corporate agents as insurance intermediaries after the statutory amendment and issued an initial exposure draft followed by a revised second exposure draft responding to stakeholder comments. The revised second exposure draft clarifies that the Authority does not mandate percentage limits on banks selling insurance products, signalling a regulatory approach that refrains from imposing numerical caps on bank distribution while framing rules for corporate agents.

CPI-Combined inflation measure set as monetary policy target, while wholesale prices remain in decline.
Wholesale price inflation became negative from November 2014 due to declines across major commodity groups. India measures inflation by WPI and multiple CPIs; under the Government-RBI Monetary Policy Framework the CPI-Combined is the sole inflation measure for monetary policy and defines the price stability objective.