Repurchase of Government Securities announced through reverse auction, using price-based multiple-price bidding and electronic submission with same-day results.
Repurchase of Government Securities is announced as an ad hoc premature redemption using a price based reverse auction under the multiple price method; bids must be submitted electronically via the Reserve Bank of India's E Kuber system within the prescribed bidding window and results will be declared the same day.

Tariff value adjustment for specified edible oils, metals and agricultural commodities alters customs valuation for imports.
Central Board of Excise & Customs amends Notification No. 36/2001 Customs by substituting TABLE 1, TABLE 2 and TABLE 3 to revise tariff values in US dollars for specified imports, including edible oils (crude palm oil, RBD palm oil, palmolein variants, crude soybean oil), brass scrap, poppy seeds, areca nuts, and gold and silver where certain notification benefits are availed; TABLE 1 and TABLE 3 set values per metric tonne while TABLE 2 sets values per prescribed weight units for precious metals.

Non-Performing Assets: sector-specific measures and insolvency and restructuring tools to restore asset viability and recovery.
Non-Performing Assets remain concentrated in large corporate exposures across steel, power, infrastructure and textiles; the Government is pursuing sector-specific measures to restore viability while deploying statutory and supervisory recovery tools including the Insolvency and Bankruptcy Code, RDDB&FI and SARFAESI Act, and RBI restructuring frameworks such as Joint Lenders' Forums, flexible long-term structuring, SDR and S4A. Consideration is being given to institutional responses including multiplication of RBI oversight committees, exploration of a dedicated asset rehabilitation vehicle or 'bad bank', tighter regulation of Asset Reconstruction Companies, and use of long-term debt markets and special purpose vehicles to support resolution.

Tax incentives for additional manufacturing employment encourage hiring alongside schemes promoting manufacturing-led job creation and investment.
The Government combines targeted sectoral schemes and fiscal and trade measures to generate manufacturing employment: capacity development through the Integrated Development of Leather Sector and credit facilitation under Stand-up India, coupled with Section 80JJAA tax incentives for additional employment. Structural reforms-FDI policy rationalisation, industrial corridors, ease of doing business initiatives, and the Make in India strategy-seek to raise manufacturing's GDP share and job creation. Corrections to inverted duty structure are pursued to protect domestic value addition and competitiveness.

Threshold-based escalation for lodging CBI complaints in bank frauds requires specific CBI units based on amount and staff involvement.
Prescribes a threshold-driven framework requiring public sector banks to lodge complaints with designated CBI divisions based on monetary thresholds and whether staff involvement is prima facie evident, directing lower-range staff-involved matters to anti-corruption units and escalating higher-value matters to specialized CBI units and headquarters policy leadership.

Measures against black money strengthen cross-border information exchange and enable domestic confiscation and prosecution mechanisms.
Government measures combine legislative reform, international information exchange and IT-driven enforcement to detect and address undisclosed assets. Institutional actions include a Special Investigation Team and a Multi-Agency Group, enactment of a law on undisclosed foreign income and assets, expansion of tax information exchange and participation in automatic exchange frameworks, and amendments enabling attachment and confiscation of property and strengthening prohibition and prosecution of benami transactions. Operational initiatives deploy information mining, data analytics and a national programme for collation and e-verification of cash-transaction data to prioritise enforcement and prosecution.

Tax compliance verification: e verification of cash deposits triggers responses and potential enforcement where explanations are inadequate.
Operation Clean Money used data analytics and e-filing to reconcile cash deposits during the demonetization period with taxpayer profiles; acceptable explanations or PMGKY declarations close verification, while unsatisfactory responses may lead to searches, surveys, assessments, taxes, penalties, and prosecutions under law.

Submission of specified bank notes allowed under grace period, with resident and nonresident eligibility and RBI verification.
The Specified Bank Notes (Cessation of Liabilities) framework allows eligible holders who declare they were abroad during the relevant window to deposit discontinued notes within prescribed grace periods, with resident and nonresident Indians subject to different cut offs and monetary limits (nonresident limits governed by FEMA). Upon satisfactory verification, the Reserve Bank will credit accepted note value to the tenderer's KYC compliant bank account; this facility is available only at specified RBI offices and requires completion of the declared verification process.

Essential commodities enforcement coupled with trade and fiscal measures to stabilise prices and supply of key food items.
To address rising wholesale inflation driven by fuel and power costs, the Government adopted a multi-pronged response combining market-stabilising funds and procurement with regulatory and trade measures: increased allocation to a Price Stabilization Fund; creation of buffer stocks through procurement and imports; higher Minimum Support Prices; advisories to States/UTs to enforce the Essential Commodities Act and the Prevention of Black-marketing Act against hoarding; imposition of export duty on sugar; and reductions in import duty on selected food items.

Foreign re-insurer branches permitted in India after insurance law amendment; multiple firms granted registration to establish branches.
IRDAI issued Certificates of Registration to seven foreign re-insurers to establish branches in India pursuant to the Insurance Laws (Amendment) Act, 2015, authorising foreign reinsurers to transact reinsurance business through local branches and broadening permitted market entry beyond the incumbent domestic re-insurer.

Savings bank interest freedom: banks may set rates with board approval, uniform rate required for smaller balances.
Reserve Bank policy authorises scheduled commercial banks to set savings bank deposit interest rates with their boards' approval, requiring a uniform interest rate on savings balances up to a specified threshold and permitting differential rates for end of day balances above that threshold so long as there is no discrimination between similar deposits accepted on the same date at any office.

Per capita government debt rose, prompting fiscal consolidation and MTDS-led debt management to mitigate borrowing risk and smooth redemptions.
Per capita government debt rose between March 31, 2015 and March 31, 2016, mainly due to increased Government borrowings and a rise in internal debt; interest payments and principal repayments are ongoing charged expenditures. The Government follows a fiscal consolidation path under the FRBM Act and implements the MTDS and active debt management, including buy-backs to lengthen maturities and mitigate redemption pressure; demonetization is not linked to per capita debt reduction.

Twin Balance Sheet reforms: strengthened insolvency framework and RBI restructuring tools to enhance loan resolution and recovery.
Twin Balance Sheet problem from over-leveraged companies and mounting non-performing assets has been addressed through enactment of a strengthened insolvency framework and targeted amendments to recovery statutes, complemented by sector-specific interventions. Institutional and regulatory measures include additional Debt Recovery Tribunals and central bank tools such as Corporate Debt Restructuring, Joint Lenders' Forum, long term project loan structuring, Strategic Debt Restructuring and Sustainable Structuring of Stressed Assets to facilitate restructuring and recovery of bank loans.

Digital payments policy promotes structural reforms including amendments to payment systems law and coordinated implementation.
A Department of Economic Affairs committee recommended structural reforms to promote digital payments, including amendments to the Payment and Settlement Systems Act, and published its report. NITI Aayog established a Committee of Secretaries and a Committee of Chief Ministers to identify user friendly digital payment options and to recommend measures enabling nationwide migration to digital payment modes; the Chief Ministers' committee submitted an interim report with implementation recommendations.

Gold Monetisation Scheme mobilizes idle household and institutional gold into productive use, aiming to reduce reliance on gold imports.
The Gold Monetisation Scheme, launched in November 2015, provides options for households and institutions to monetize idle gold by modifying prior deposit and metal loan arrangements so that deposited gold is put to productive use to reduce dependence on imported physical gold, while the Sovereign Gold Bond Scheme offers an alternative to purchasing metal to further curb domestic physical gold demand; operational details are published on official websites and uptake has been reported to the legislature.

Aadhaar linkage enables payment access and DBT to consenting bank accounts via AEPS and BHIM.
Banks commit to seed savings bank accounts with the accountholder's Aadhaar number only with the accountholder's consent to enable use of the Aadhaar Enabled Payment System (AEPS), BHIM app pay-to-Aadhaar functionality, and to permit Direct Benefit Transfer (DBT) into eligible seeded accounts, the seeding aimed at enabling delivery of basic financial services.

Fuel taxation structure remains intact: excise and customs components apply and government has no proposal to reduce taxes.
Petrol and diesel are taxed through a 2.5% Basic Customs Duty plus central excise components-Basic Excise Duty, Special Additional Excise Duty and an Additional Duty of Excise (Road Cess)-with per litre excise amounts varying by branded status; CNG attracts concessional Basic Customs Duty and Basic Excise Duty. The document also provides a cross border retail price comparison and records the government's statement that no proposal to reduce petrol and diesel taxes is under consideration.

Direct tax growth shows stronger net personal income tax gains despite modest corporate tax net increase.
Up to February 2017, Direct Tax collections net of refunds increased year on year and represent a substantial proportion of the 2016-17 Budget Estimates. Gross receipts show stronger growth in both Corporate Income Tax and Personal Income Tax, but after refunds the net growth for Corporate Income Tax is modest while Personal Income Tax retains strong net growth; refunds issued in April-February materially offset gross collections and have risen notably from the prior year.

Tax revenue growth: indirect and direct collections rose year on year, with refunds reducing net corporate tax growth.
Net indirect tax receipts through February 2017 rose year on year and represent about 90.9% of the Revised Estimates for 2016-17, with Central Excise and Service Tax growing faster than Customs and positive month on month growth across all three heads. Direct tax collections also increased year on year and account for a defined portion of Budget Estimates; however, higher refunds issued in April-February materially reduced net growth in corporate tax while personal tax net growth remained stronger.

Expanded exchange of tax information under India-Belgium DTAA protocol enhances cross-border anti-evasion cooperation and tax collection assistance.
The Protocol amending the India-Belgium Double Taxation Avoidance Agreement broadens the scope of exchange of tax related information to prevent fiscal evasion and avoidance, supports administrative enquiries into taxes concealed in offshore accounts, and strengthens mutual assistance in the collection of taxes to facilitate cross-border cooperation.