Infrastructure financing for regional transit supports transit-oriented development and value capture financing to boost municipal revenues.
ADB provided sovereign financing to construct electrified tracks, signaling, multimodal hubs and accessible stations for the Delhi-Meerut RRTS, coupled with institutional support requiring adoption of high-level technologies, multimodal integration, and operational standards; the project promotes transit-oriented development and value capture financing, envisages PPP instruments and a smart-technology platform, and is supplemented by grants for universal access, training for women and persons with disabilities, and resilience and building information modeling innovations.

Infrastructure financing supports climate-resilient road upgrades and mandated allocation of maintenance contracts to women-led groups.
The Governments of India and Himachal Pradesh and the World Bank executed a loan agreement to finance the Himachal Pradesh State Roads Transformation Project, conditioned on institutional reforms, engineering and nature-based measures for climate and disaster resilience, road safety through a Safe Systems approach, and operational measures including reorganising road agencies and establishing emergency response systems. Contracting provisions require that one-third of maintenance contracts be awarded to women-led Self-Help Groups, and financing supports logistics improvements for horticulture and tourism corridors. The IBRD loan matures in 15 years with a five-year grace period.

Loan resolution framework: lenders must adopt board approved policies and roll out resolution schemes to support stressed borrowers.
Implementation and oversight of the loan resolution framework for COVID-19 related stress was directed, with emphasis on lenders adopting Board-approved resolution policies, identifying eligible borrowers and proactively reaching out to them. Lenders were instructed to implement sustained resolution plans for revival of every viable business, ensure that COVID-19 distress does not adversely affect creditworthiness assessments, publish updated FAQs in multiple languages, and roll out resolution schemes by 15th September, 2020 in compliance with RBI timelines.

Undisclosed income and benami transactions exposed, triggering forensic review of cross LoC trade, returns and asset restraints.
Searches uncovered substantial undisclosed income, unaccounted assets, and documentary evidence suggesting benami transactions and breaches of the suspension on cross LoC trade; findings include non filing or materially understated returns, multiple PANs, unexplained cash and travel related expenditures, and a restrained locker pending further forensic examination.

ITR filing compliance check enables banks to verify PAN holders' return filing status to support TDS applicability on cash withdrawals.
CBDT has released an ITR Filing Compliance Check for Scheduled Commercial Banks to obtain masked PAN holder names and income tax return filing status in bulk for the last three assessment years to assist in applying TDS on cash withdrawals. Accessible via the Reporting Portal to designated principal officers, the functionality accepts CSV uploads (limited per file), provides downloadable processed output that expires after a set period, and supports API integration. Banks must implement information security policies and defined roles to protect the transmitted data.

Official Development Assistance loan supports India's COVID 19 response and strengthens health system resilience through grant aid.
An Official Development Assistance programme loan and a complementary grant-in-aid from Japan were formalised by Exchange of Notes and a Loan Agreement to support India's COVID 19 response, enhance health system capacity to manage future epidemics, and provide medical equipment to strengthen public health facilities for critical patient care.

Tariff value fixation updated for specified imports, altering valuation methodology and customs assessment for listed goods.
The Board amends the principal tariff valuation notification by substituting TABLE 1, TABLE 2 and TABLE 3 to fix unit tariff values for specified imports, including edible oils, brass scrap, poppy seeds, areca nut, and detailed categories of gold and silver with explanatory scope and exclusions for certain import modes.

Sustainable finance: consultation yields recommendations on taxonomy, disclosures, blended and green finance to guide framework development.
Launch of a Sustainable Finance Collaborative to design India's sustainable finance architecture, focusing on impact investing, the role of blended and green finance instruments, barriers to deployment, the need for an environmental taxonomy, and enhanced sustainability related disclosures; the consultation also addressed preparing the financial sector for climate and environmental social risks and produced recommendations to inform a national Sustainable Finance framework and roadmap.

Financial inclusion via PMJDY expands access to banking and DBT delivery, strengthening direct transfers and account usage.
Pradhan Mantri Jan-Dhan Yojana (PMJDY) ensures universal access to banking, remittance, credit, insurance and pension through BSBD accounts with relaxed KYC, RuPay/AePS interoperability, fixed Business Correspondents and core-banking online accounts. The programme layers overdraft facilities, micro-insurance and micro-pensions, and uses DBT through PMJDY accounts with active monitoring to reduce payment failures; subsequent revisions shifted focus to every unbanked adult and enhanced RuPay-linked insurance and overdraft eligibility, while promoting digital payments and micro-credit access.

Structural reforms driving regulatory changes to remove movement curbs, speed disinvestment, and support manufacturing recovery.
Structural reforms are the government's priority, with measures to keep movement of people and inter-state goods unrestricted, review SOPs for hotels and related activities, implement cabinet-cleared strategic disinvestment decisions, and promote private investment and data-driven manufacturing. PLI schemes have sped production of critical drugs and APIs. The Finance Ministry is addressing delayed government payments and is open to external infrastructure financing; a GST rate revision for two-wheelers will be taken to the GST Council.

Project financing to upgrade suburban rail capacity and safety, enabling modal shift to lower carbon transport and improved service.
A loan agreement was executed among the Government of India, the Government of Maharashtra, Mumbai Railway Vikas Corporation and the Asian Infrastructure Investment Bank to finance Mumbai Urban Transport Project III, aimed at increasing rail network capacity, reducing journey times and fatal accidents through trespass control and station and service improvements; the international loan provides long tenor financing with a multi year grace period and extended maturity, and the Project also aims to shift commuters to lower carbon rail travel and improve safety for female passengers.

Benami property investigations reveal undisclosed real estate investments and physical seizures, prompting an ongoing tax inquiry.
Income-tax authorities conducted search and seizure operations that recovered documents relating to about one hundred immovable properties acquired with substantial undisclosed cash, many held in names of persons of no means and indicative of benami properties, together with seized cash and jewellery; investigations into source of funds, associated partnerships and benami holdings remain ongoing.

Income tax refunds issued to large numbers of taxpayers, reinforcing tax administration efforts to clear pending refunds and aid taxpayers.
The tax administration has disbursed substantial personal and corporate tax refunds by aggregate value and case counts since 1 April 2020, demonstrating operational throughput of the refund mechanism. The statement emphasises clearing pending refunds and sustaining tax-related services during the COVID-19 pandemic as part of taxpayer service and continuity measures.

Third party reporting of high value transactions consolidated in Form 26AS; taxpayers need not disclose them in ITRs.
Taxpayers are not required to report high value transactions in their income tax returns; any expansion of reporting will be undertaken through third party reporting under the Statement of Financial Transactions. Specified persons such as banks and registrars will transmit transaction data, which will be consolidated in the revised Form 26AS to aid identification of non-filers and support voluntary compliance without obliging taxpayers to disclose such transactions in their returns.

Faceless Tax Administration simplifies scrutiny and introduces faceless assessment and appeal backed by a Taxpayers Charter.
Implements a national platform for Transparent Taxation focused on Faceless Assessment, a Taxpayers Charter assuring fair and courteous treatment, and phased rollout of Faceless Appeal, with the stated goal of making tax administration Seamless, Painless and Faceless and reducing direct taxpayer-officer contact in scrutiny, notices, surveys and assessments.

Faceless Assessment reduces human interface and discretion, enhancing taxpayer dignity alongside a taxpayer charter and faceless appeal.
Transparent Taxation introduces Faceless Assessment, Faceless Appeal and the Taxpayers Charter to reduce human interface and discretion, using technology and randomised case allocation to make assessment, scrutiny and appeals geographically neutral; the Charter codifies taxpayer rights to dignified treatment and access to appeal while emphasising corresponding taxpayer duties, and broader procedural measures and online dispute-resolution aim to simplify compliance, lower litigation, and strengthen voluntary participation in the tax system.

Mutual Agreement Procedure (MAP) framework clarifies MAP access, CA roles, negotiation and implementation processes for treaty double taxation resolution.
The guidance establishes India's administrative framework for the Mutual Agreement Procedure (MAP), defining MAP as a taxpayer remedy under DTAAs to resolve juridical and economic double taxation arising from transfer pricing, permanent establishment, profit attribution, and characterisation disputes. Two designated Competent Authorities process MAP requests under rule 44G using Form 34F, exchange position papers with treaty partners, negotiate bilateral or parallel multilateral solutions, and formalise mutual agreements, subject to taxpayer acceptance and domestic law constraints on implementation.

Tariff value fixation for specified imports reaffirmed through substitution of valuation tables under Customs Act authority.
Amendment under sub-section (2) of section 14 of the Customs Act substitutes TABLE-1, TABLE-2 and TABLE-3 of the principal notification to fix tariff values for specified imported commodities, including edible oils, brass scrap, poppy seeds, areca nut, and specified forms of gold and silver; the tables list each tariff item, describe covered forms and exclusions, and set the operative tariff values for valuation purposes under the notification.

Faceless e-assessment centralises notices and uses automated, anonymous allocations to reduce in-person tax interactions.
The faceless e-assessment framework operates through a central National e-Assessment Centre that issues assessment notices, requires taxpayer responses within a set timeframe, and allocates cases to Assessment Units by an automated system preserving assessor anonymity; the scheme replaces territorial jurisdiction with dynamic jurisdiction and aims to eliminate in-person interfaces to enhance transparency and reduce harassment and corruption.

Tariff value fixation updated for specified imported goods, changing customs valuation and import duty computation.
Fixation of tariff values for specified imported goods under section 14(2) by substituting revised TABLE-1, TABLE-2 and TABLE-3 in Notification No. 36/2001-Customs (N.T.), listing tariff values for edible oils, brass scrap, poppy seeds, areca nut and specified forms of gold and silver, and providing exclusions and explanatory definitions for certain precious metal entries for customs valuation purposes.