Exchange rate determination for customs conversions sets specified currency rates for import and export effective immediately.
Determination under statutory customs power prescribes distinct conversion rates of specified foreign currencies into Indian rupees for imported and export goods, superseding the earlier notification and setting the operative rates by reference to Schedule I (unitary currency rates) and Schedule II (rates per one hundred units) to be applied in customs valuation and related procedures.

Exchange rate amendment: revised foreign currency valuation for import and export goods alters customs valuation basis.
The Central Board of Excise & Customs, under Section 14 of the Customs Act, 1962, amends Notification No. 113/2014-CUSTOMS (N.T.) by substituting Serial No. 1 in Schedule-II to revise the rate of exchange for the Japanese Yen for purposes of assessing imported goods and export goods, thereby changing the foreign currency valuation applied for customs assessment.

PMJDY insurance eligibility: RuPay card use and account criteria determine accidental and life cover availability for holders.
Clarifications define that existing bank account holders need not open separate PMJDY accounts but must obtain a RuPay card on their account to access accidental insurance and potential overdraft. Accidental insurance applies to RuPay card holders aged 18-70 subject to card use within 45 days and claim notice within 30 days. Life insurance is limited to first time account openers with RuPay in the promotional period, restricted to one eligible family member aged 18-59, payable to nominees upon submission of documents, with exclusions for government employees, ITR filers/TDS deductees and those covered under Aam Aadmi Bima Yojana.

Tariff value revision updates customs valuation for specified edible oils, metals and agricultural imports under amended notification.
Exercise of power under section 14(2) of the Customs Act, 1962 to amend Notification No. 36/2001 Customs by substituting TABLE 1, TABLE 2 and TABLE 3 to prescribe revised tariff values in US dollars for specified commodities including palm oils, palmolein, crude soyabean oil, brass scrap, poppy seeds, areca nuts, and specified gold and silver consignments where notification benefits are availed, thereby updating customs valuation benchmarks for import assessment.

Dividend payment by Life Insurance Corporation to the government delivered as a formal cheque, marking transfer of company funds.
Life Insurance Corporation of India delivered a dividend cheque to the Union Finance Minister, representing the transfer of LIC's declared surplus to the central government as shareholder recipient; the presentation occurred in the Finance Minister's office and was attended by the LIC Chairman and senior managing directors, recording the procedural receipt of the corporate distribution.

Economic growth potential emphasized, prioritizing manufacturing, infrastructure and social welfare measures to support recovery.
Government policy focuses on raising growth by exploiting manufacturing and infrastructure potential and restoring economic momentum, while maintaining essential social welfare programmes-notably food security and universal education-as integral protections that operate alongside growth-oriented initiatives.

International bond settlement enabling foreign investors to settle government securities in international systems and currencies to widen access.
Allowing international settlement of government bonds would permit Indian government securities to be settled through international settlement platforms, enabling foreign investors to transact while settling in international currencies, thereby widening the investor base and requiring operational and supervisory coordination between domestic issuance and international depositories.

E commerce fraud regulation: investigations under FEMA and PMLA continue and consumer protection provisions are being strengthened.
There is currently no separate regulatory framework for e commerce; investigations into alleged e commerce frauds are conducted by the Directorate of Enforcement under the Foreign Exchange Management Act and the Prevention of Money Laundering Act as and when credible information is received, with PMLA action possible where a fraud case is registered by another law enforcement agency. The Government has initiated steps to incorporate protections for online shoppers within the Consumer Protection Act.

Foreign portfolio investment limits under SEBI FPI regulations constrain non resident stakes and remain subject to composite sectoral caps.
Reported net investments by Foreign Institutional/Portfolio Investors for 2013-14 and 2014-15 show substantial quarterly equity and debt inflows. Under the SEBI FPI Regulations, 2014, individual and aggregate limits for Registered Foreign Portfolio Investors are set at 10% and 24% of a company's paid up equity or of each series of convertible debentures, and RFPI investments remain subject to the composite sectoral cap under the FDI policy.

Retrospective taxation scrutiny: fresh indirect-transfer cases require committee approval before assessing officers initiate action under prescribed procedure.
For fresh cases arising from the 2012 retrospective amendments concerning indirect transfers, assessing officers must obtain approval from a three member Committee of officers constituted under statutory authority before initiating any action; the Committee will scrutinize such cases and submit its first report on references decided for the period ending 31 December 2014.

Attachment of properties enables statutory tax recovery and custodial notification procedures under the special securities offences regime.
The Income-tax Act empowers assessing officers and tax recovery officers to attach movable and immovable property and permits the Central Government to publish names of tax defaulters under prescribed guidelines. Under the Special Court Act, the Central Government appoints custodians who notify persons covered and effect simultaneous attachment of all properties; tax recovery against notified persons is made through custodians, with Income-tax authorities following up with the Special Court.

Foreign Direct Investment policy: automatic entry permitted in specified cases, while other investments require prior government approval.
Foreign Direct Investment in India is regulated under the FDI Policy and the Foreign Exchange Management Act; investments proceed either under the Automatic Route without prior approval or the Government Route which requires prior approval through the designated approval mechanism. Sector-wise approvals and inflow statistics are published on official departmental and approval-mechanism websites, and proposals under consideration are listed on the relevant public portal.

Administered interest rates benchmarked to government securities yields, with small savings rates reset annually on April first.
Interest rates for Small Savings Schemes are Administered Interest Rates benchmarked to the average annual yield on Government Securities of comparable maturity in the secondary market with a suitable spread based on maturity and liquidity, and are reset every 1st April. A rate schedule effective w.e.f. 1.4.2014 specifies applicable interest percentages for Savings Deposit, various Time Deposits, Recurring Deposit, Senior Citizen Savings Scheme, Monthly Income Scheme, National Savings Certificates and Public Provident Fund.

Non-adversarial tax regime: CBDT directives require targeted scrutiny and strict oversight to curb taxpayer harassment.
The CBDT directed implementation of a non-adversarial tax regime by requiring senior officers to monitor subordinates, review scrutiny assessment orders to avoid long or non-specific questionnaires and unjustified additions, limit scrutiny to the information forming the basis of case selection (with higher approval for wider inquiry), process recovery and stays per guidelines, address taxpayer grievances promptly, and file appeals only on merits; non-adherence to the prescribed guidelines is to be viewed seriously.

Shadow banking regulation: coordinated micro-mapping and gap analysis to identify reforms and monitoring mechanisms.
Constitution of a Shadow Banking Implementation Group (SBIG) to micro-map shadow banking entities and assess risks to the formal financial sector; the Group will assess domestic regulatory compliance against international guidance, identify gaps, recommend reform measures or document reasons for non-implementation within a comply-or-explain framework, set implementation timelines and responsible agencies, propose monitoring arrangements, consider publishing an implementation approach, and establish a data repository for the sector.

Directive to finalize offshore account assessments prompts tax levies, penalties and criminal prosecutions, with systemic reform recommendations.
CBDT directed Assessing Officers to finalize assessments in 427 actionable HSBC-list cases, resulting in tax and interest levies, initiation of penalties under Section 271(1)(c) and prosecutions under Sections 276C(1) and 276D; enforcement agencies have pursued show cause notices, provisional attachments and adjudications, while the SIT recommends trade data-matching, mandatory PAN/Aadhaar disclosure for higher-value transactions, cash possession limits, FEMA amendments for confiscation of equivalent domestic assets, designating significant tax crimes as predicate offences, enhanced FIU access and a centralized KYC registry to strengthen detection and recovery of illicit funds.

Guarantee Agreement enables IBRD direct lending to Dedicated Freight Corridor Corporation to expand Eastern freight corridor and boost capacity.
A Guarantee Agreement between the Government of India and the World Bank enables IBRD lending to DFCCIL for the Eastern Dedicated Freight Corridor-II Project to finance construction on the 393 km Kanpur-Mughal Sarai section and to provide a financial framework for project implementation.

Contract extension for the CPC project continues outsourced automated processing and revises project cost to improve taxpayer services.
Approval extends the outsourced contract for the Central Processing Centre project in Bengaluru and revises the project cost, maintaining automated processing and refund issuance to enhance taxpayer services, ensure uniform rule driven treatment of returns, and support the Department's technology led business transformation.

Structural reforms to boost employment and sustainable supply side growth, emphasising infrastructure, power reforms and transparency.
The document calls for deep structural reforms to secure sustained, non inflationary and inclusive growth with large scale job creation, stressing a supply side strategy that delivers macro economic stability, market driven entrepreneurship, increased private investment and world class social security. It prioritises agricultural productivity through universal irrigation and power, infrastructure and export oriented manufacturing, transparent allocation of natural resources via e auctions, power sector reforms including tariff stability and feeder separation, innovative financing, monitoring and accountability, and sequenced implementation to overcome legacy constraints.

Industrial infrastructure upgradation: central scheme grants in-principle approvals for multiple industrial park projects enabling grant support.
DIPP introduced the Modified Industrial Infrastructure Upgradation Scheme (MIIUS) in July 2013 to provide central grant assistance for upgrading infrastructure in industrial estates, parks and areas. Under MIIUS, 21 project proposals received in-principle approval for central grant funding across multiple states, covering industrial areas, growth centres, clusters and sectoral hubs; aggregated project costs and proposed central grants were provided in an annexure to the Ministry's parliamentary reply.