India GDP projected to grow 7.4% in FY26, led by services and manufacturing and supported by consumption and investment.
Real GDP is projected to grow 7.4 per cent in FY2025 26 with GVA at 7.3 per cent, led by services ( 9.1%) and manufacturing ( 7.0%), nominal GDP up about 8%, and First Advance Estimates used for Union Budget preparation; consumption and investment (PFCE 7.0%, GFCF 7.8%) underpin the demand side, while tax relief and GST reductions form part of the fiscal context.

Param Raksha Life Pro+ offers NRIs market-linked ULIP returns with life, accidental and terminal illness payouts, and tax-linked benefits.
Param Raksha Life Pro+ combines unit linked life insurance with market linked investment funds, providing lump sum death benefits, accidental disability and enhanced accidental death benefits for certain transport accidents, and an advance payout for terminal illness. Investment risk is borne by the policyholder, and linked units are illiquid until the end of the fifth year. The plan offers flexible premium terms, entry ages 18-65, coverage to age 100, wellness services, and potential Indian tax advantages subject to applicable conditions and individual tax advice.

Income tax transition to new direct tax law effective April 1; officials asked to prepare for implementation and compliance.
CBDT instructed income tax officials to be administratively prepared for implementation of a new direct tax law from April 1, directing clarity of purpose and operational readiness to transition tax administration processes to the revised legal framework.

Income Tax Department preparing for rollout of the New Income Tax Act with training, rules and tech-driven compliance measures.
Preparation for implementation of the New Income Tax Act requires completion of transitional rules, procedures and forms and focused training so officials can understand the law's intent and guide taxpayers. The administration's role shifts toward facilitation, trust and service with technology and automation central, and adoption of the NUDGE Framework to use data-driven communication to encourage voluntary compliance.

Cigarettes and pan masala face new excise duties, a health cess, 40% GST, and packing-machine CCTV and disclosure rules.
The government restructured taxation effective February 1 by imposing an additional excise duty on cigarettes based on length (Rs 2,050-8,500 per 1,000 sticks) over and above 40% GST, levying a Health and National Security Cess on pan masala manufacturing capacity, and setting specific excise percentages for chewing tobacco and gutkha; packing-machine rules require CCTV, 24-month footage retention, disclosure of machine capacities, and permit abatement for machines non-functional 15 consecutive days.

Pan masala and tobacco will face new cess and additional excise duty on top of GST from February 1.
A Health and National Security Cess will apply to pan masala and an Additional Excise Duty will apply to tobacco and related products, charged in addition to GST; the compensation cess on these goods will cease. Specified GST rates: pan masala, cigarettes, tobacco and similar products 40% GST; bidis 18% GST. The Finance Ministry issued rules for capacity determination and duty collection on packing machines for chewing tobacco, jarda-scented tobacco and gutkha, and the government set February 1 as the implementation date.

Goa nightclub built on a salt pan operated without a valid licence amid alleged forgery and safety breaches.
The nightclub was built in the middle of a salt pan, contravening land revenue and coastal zone rules, and continued operating without a renewed trade licence. The village panchayat failed to seal the premises or notify other departments, while the licence application showed procedural irregularities and alleged forgery. Fire-safety deficiencies, fireworks without proper precautions and absent emergency exits contributed to a deadly blaze; investigators allege collusion between officials and owners and have invoked criminal provisions for culpable homicide, negligence, forgery and conspiracy.

Market capitalisation of seven top firms fell by Rs 35,439 crore last week, SBI hit hardest amid muted equities.
Market valuations of seven of the ten most valued listed firms contracted by a combined Rs 35,439.36 crore last week, led by a Rs 12,692.10 crore fall at State Bank of India. Declines also occurred at Reliance Industries, Bajaj Finance, Larsen & Toubro, ICICI Bank, LIC and TCS, while HDFC Bank, Infosys and Bharti Airtel posted valuation gains; Reliance remained the most valued company followed by HDFC Bank and Bharti Airtel.

Government reforms simplify taxation, labour codes, GST, and MSME rules to reduce compliance burdens and promote growth.
The government restructured taxation and regulatory frameworks to reduce compliance friction: the Income Tax Act, 2025 introduced tax relief and streamlined compliance; GST was simplified via streamlined slabs, easier registration, automation, and faster refunds; labour law consolidation combined 29 statutes into four codes covering wages, safety, social security, and relations; and business measures expanded MSME and small-company thresholds and rationalised Quality Control Orders to lower costs.

Income tax appeals secured via tribunal's digital and accessible procedures benefit taxpayers nationwide, improving timeliness and reach.
The Income Tax Appellate Tribunal provides fair, accessible and expedited resolution of taxpayer appeals through expertise-driven, cost-effective procedures and digital measures such as e-hearings and video conferencing to ensure timely adjudication and broaden access for taxpayers in remote areas; the Lucknow Bench, established in 2000, operates two benches and has disposed of a substantial volume of appeals while maintaining a continuing pending docket.

Chintan Shivir on AI and ease of doing business calls for institutional capacity building, regulatory predictability, and digital tax reform.
The session prioritized strengthening institutional capacity through artificial intelligence and technology-enabled systems to improve ease of doing business and financing, stressing procedural simplification, regulatory predictability, coordinated inter-departmental functioning, efficient fund flows, financing pathways for growth, a future-ready tax administration, and deployment of digital tools for transparency and accountability.

Rupee strengthens on corporate dollar inflows and easing crude; net direct tax collections rise 8% and forex reserves climb.
The rupee closed at 89.67 against the US dollar, supported by corporate dollar inflows, easing crude oil and equity strength; RBI intervention and a softer US dollar index were also cited. Net direct tax collections rose 8% to over Rs 17.04 lakh crore year to date through December 17, driven by slower refunds and higher corporate advance taxes, and forex reserves increased to USD 688.949 billion for the week ended December 12.

Net direct tax collections rose 8% to Rs 17.04 lakh crore; assets linked to illegal betting money laundering probe attached.
Net direct tax receipts rose 8% to about Rs 17.04 lakh crore due to slower refunds and higher corporate advance tax payments. The publication reports attachment of assets in a large illegal betting linked money laundering investigation, reflecting deployment of asset seizure and anti money laundering measures. It also notes judicial scrutiny of a custodial sexual assault allegation and extended investigative custody in a terrorism related case, underscoring use of investigative custody and judicial oversight in serious criminal probes.

Income Tax raids food companies in Mumbai, including a restaurant linked to Shilpa Shetty, over alleged tax evasion.
Allegations of tax evasion led the Income Tax Department to search about 20-24 food and beverage company premises in Mumbai for suspected out-of-books cash transactions, including office premises of a restaurant co-owned by a public figure; the searches did not include her residence and the tax inquiry is not linked to separate police FIRs, while the parties denied wrongdoing and said they cooperated with authorities.

100% FDI in insurance proposed, statutory amendments, regulator tenure changes and a policyholders' protection fund included.
The Bill raises FDI in the insurance sector to 100 per cent, amends key insurance statutes, allows mergers with non insurance companies, establishes a Policyholders' Education and Protection Fund, and sets five year or until 65 tenures for regulator executives.

VIBGYOR Viva Season 17 invites students worldwide to compete in sports and cultural events with cash prizes and support.
VIBGYOR Viva Season 17 organises inter school sports and cultural competitions across defined age brackets with specified prize pools and attendant benefits. The FIBA endorsed Under 14 basketball championship offers Rs. 3,00,000 in cash and finalist travel, accommodation and meals for each student and one accompanying adult; the Stars and Junior Stars cultural track awards Rs. 2,25,000 plus trophies and certificates. Eligibility and entry proceed via city level auditions and online submissions, and international participants receive complimentary accommodation and meals.

Tata AIA Premier SIP combines market linked investment with life and health cover, zero allocation, waiver of premiums.
Tata AIA Premier SIP is a unit linked insurance plan bundled with a non linked health product that invests 100% of premiums by eliminating allocation charges, allows unlimited fund switches, and features a Waiver of Premium Benefit that waives future premiums on death or permanent disability. Optional health riders expand coverage, a Smart Lady Benefit credits 0.5% extra units on first year premiums for women, and post lock in withdrawal options (SWP, CWP, IWP) provide income flexibility; the plan also offers health services and tax advantages under prevailing laws.

India's tax transparency push used CRS data to nudge disclosures of undeclared foreign assets and strengthen compliance.
India used CRS-derived data through the NUDGE programme to identify and prompt taxpayers to disclose previously undeclared foreign assets, producing a marked rise in reporting, additional declared assets and income, and follow-up campaigns; this operational use of AEOI data exemplifies how exchange of financial account information under the CRS enhances domestic tax compliance.

Tamil Nadu economic growth linked to infrastructure-driven job creation and private investment in Trade and Film City projects.
Tamil Nadu's double-digit economic expansion is attributed to job creation from infrastructure projects, with growth cited at 11.19 percent. The finance minister urged private-sector participation, citing a private developer's Trade and Convention Centre and Film City in Poonamallee as examples of projects that generate employment and further economic activity, and presenting private investment in education, trade facilities, and media infrastructure as contributing to regional economic development.

Siharan film trailer emphasizes women's exploitation themes, rural betel leaf industry depiction, and imminent Pan India theatrical release.
Siharan is a promotional press release announcing the trailer and Pan India theatrical release of a horror comedy film that foregrounds themes of women's exploitation and dignity, details narrative elements such as Choti Katwa folklore and betel leaf farming depiction, and identifies key production and distribution participants; it contains no contractual, compliance, or adjudicatory content.