Post Devolution Revenue Deficit Grant under Article 275 provided to eligible subnational governments to meet post-devolution revenue gaps.
The Department of Expenditure released the sixth monthly installment of the Post Devolution Revenue Deficit Grant pursuant to the Fifteenth Finance Commission's recommendations under Article 275, increasing cumulative releases to fifty percent of the Commission's recommended aggregate for the year; eligibility and grant quantum were determined by the Commission based on the assessed post devolution gap between state revenue and expenditure, and disbursements are being made in monthly installments to the identified recipients.

Additional financing expands rural road and bridge upgrades, enhancing climate-resilient connectivity and local employment opportunities.
The Government of India and the Asian Development Bank executed a loan agreement providing additional financing to expand the Maharashtra Rural Connectivity Improvement Project, adding 1,100 rural roads and 230 bridges to raise total upgraded length to about 2,900 km under the new tranche and 5,000 km overall; the financing focuses on rebuilding flood-damaged infrastructure with flood- and climate-resilient designs, and links investment to local employment generation, a Gender Action Plan, environmentally friendly material pilots, mobile mapping monitoring, and new construction technologies.

Loan agreement for urban water infrastructure enables continuous treated piped supply and capacity strengthening in Jharkhand towns.
A loan agreement between the Government of India and the Asian Development Bank finances the Jharkhand Urban Water Supply Improvement Project to construct water treatment plants and an extensive distribution network to deliver continuous, treated piped water to about 115,000 households, including vulnerable groups, while strengthening urban local bodies through asset management, training, and adoption of SCADA and GIS technologies for sustainable operation.

E-filing portal reliability improved through ongoing provider coordination, increasing filings and processing while issues are resolved.
The Income Tax Department is overseeing the operational stabilisation of its e-Filing portal, working with the Managed Services Provider to address reported technical glitches. The Department reports progressive remediation, increased taxpayer logins, rising ITR filings and e-verifications, handling of faceless assessment notices and responses, submission of statutory forms including TDS and trust registrations, and provision of Aadhaar-PAN linking and e-PAN services, while emphasising continued engagement to ensure a smooth filing experience.

Settlement applications eligibility extended for taxpayers to file with Interim Board subject to pending assessments and specified conditions.
Taxpayers eligible to file settlement applications as of the cut-off date may file before the Interim Board by the extended deadline if they were eligible on the cut-off date for the relevant assessment years and all relevant assessment proceedings remain pending at filing; such applications will be treated as pending applications and disposed of by the Interim Board under the Act, and filed applications under this facility cannot be withdrawn.

Electronic authentication by EVC now deemed for portal submissions, extending to those earlier required to use digital signatures.
Electronic records submitted through a taxpayer's registered account on the Income-tax Department portal are deemed authenticated by Electronic Verification Code (EVC) for purposes of section 144B(7)(i)(b), and this deemed-EVC authentication is extended to persons previously required to use digital signatures when they submit via their registered portal account.

Taxpayer services infrastructure enhanced by a new sustainable Income Tax office delivering centralized grievance redressal and streamlined services.
The Bengaluru Income Tax Department office will be a centrally located, taxpayer focused facility incorporating an exclusive public relations office, waiting lounge and Aaykar Seva Kendra to provide streamlined taxpayer services; the design prioritizes staff working conditions and operational functionality while integrating sustainability measures such as GRIHA IV compliance, solar provision, rainwater harvesting, recycled water use, dual plumbing and advanced air cleaning systems, and will be constructed by the Bangalore Project Circle, CPWD.

Financial stability oversight drives regulators to coordinate on stressed asset management and institutional resilience measures.
The Council emphasised financial stability as its primary mandate, directing sustained vigilance by Government and regulators over systemic conditions, large financial conglomerates, and macro prudential risks. It prioritised inter regulatory coordination and strengthening institutional mechanisms for financial stability analysis, including enhanced data sharing among authorities. The Council reviewed management of stressed assets, resolution frameworks for financial institutions and insolvency processes, banks' exposures, financial inclusion and literacy, internationalisation of the rupee, and pension sector concerns, and noted actions by the FSDC Sub Committee and members on prior decisions.

Sustainable finance cooperation advances with CFLI partnership launched to mobilise private and multilateral capital across markets.
Bilateral dialogue emphasised deepening Financial Services collaboration, with focus on FinTech, GIFT City and market reform, and launched a Climate Finance Leadership Initiative partnership to coordinate financial institutions, corporates, and sustainable finance initiatives to accelerate mobilisation of capital through multilateral and private channels, including exchange of experience on sovereign green bond issuance; the talks ended with adoption of joint statements recording the agreed cooperative framework.

Search and seizure operation uncovers extensive unaccounted transactions and shell-entity accommodation entries; investigations remain ongoing.
A search and seizure operation on 1 September 2021 at a synthetic yarns and polyester chips group recovered documents and digital evidence indicating extensive unaccounted transactions, cash purchases, suppression of sales, and sales to bogus parties. Evidence shows routing of unaccounted funds through paper entities as bogus unsecured loans and introduction of funds as share premium via shell entities whose directors and auditors admitted providing accommodation entries. Cash movement via angadias, bogus purchases, unaccounted jewellery, and eleven lockers under restraint were also found; investigations are continuing.

Mainstreaming technology in infrastructure promotes startup collaboration for smarter public service delivery and department-led challenge launches.
The workshop promoted integrating startups into public infrastructure delivery by sharing sourcing experiences, highlighting technology use in construction, asset management and mobility, and launching 'Driving Innovations in Infrastructure: The Startup Way'. It set an actionable framework for ministries and departments to run their own startup challenges in partnership with central agencies, positioning startup challenges, interagency collaboration and procurement-enabling frameworks as mechanisms for operationalising innovation adoption in infrastructure.

Tied grant release ensures funds for sanitation and drinking water with mandatory ten-working-day transfer to local bodies.
The Department of Expenditure released the first instalment of central grant-in-aid to Rural Local Bodies to supplement sanitation and drinking water services. Sixty percent of Panchayati Raj allocations are Tied Grants for water and sanitation priorities, while forty percent are Untied Grants for local discretionary use (excluding salaries). States must transfer funds to Rural Local Bodies within ten working days or pay interest for delay.

Due date extensions for electronic filing preserve compliance timelines for specified income-tax forms and statements.
CBDT extended electronic filing due dates for specified Forms and statements under the Income tax Act and Rules: Form No.10A filings may be made by 31 March, 2022 and Form No.10AB with cutoffs on/before 28 February, 2022 may be filed by 31 March, 2022; Equalization Levy Form No.1 and assorted quarterly statements (Form No.15CC), uploads of Form No.15G/15H, SWF and Pension Fund intimations (Form II SWF and Form No.10BBB), and international group reporting Forms 3CEAC/3CEAD/3CEAE have been given staggered extensions to late November or 31 December, 2021 as specified in CBDT Circular No.16/2021.

Financial inclusion expanded through PMJDY by broadening access to bank accounts, RuPay linkage and streamlined DBT delivery.
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a National Mission to provide affordable access to banking, remittance, credit, insurance and pension through Basic Savings Bank Deposit accounts with simplified and e-KYC, RuPay/AePS interoperability, fixed-point Business Correspondents, insurance and overdraft facilities, technology-driven core banking, financial literacy, and supportive measures such as the Jan Dhan Darshak App and coordination to reduce DBT failures.

Search and seizure uncovers alleged unaccounted real estate transactions and cash payments, prompting ongoing tax investigation.
Search and seizure on 24 August 2021 at a Rajkot real estate group covered over 40 premises and yielded documents and digital evidence of transactions outside books, unaccounted cash expenses, cash advances and cash interest payments, and on money payments in real estate projects. Authorities identified approximately Rs. 350 crore in unaccounted cash receipts, evidence of land purchases around Rs. 154 crore with large cash payments, concealment of income in excess of Rs. 300 crore, seizure of cash, jewellery and promissory notes, and 25 lockers under prohibitory orders; investigations continue.

Undisclosed financial transactions uncovered in tax searches leading to seizure and ongoing investigation for alleged sales suppression and expense inflation.
Income-tax search and seizure operations uncovered handwritten records and loose sheets evidencing alleged suppression of sales, inflation of expenditure, cash sales not recorded in books, and under-invoicing; seized unaccounted cash and documentary evidence indicate undisclosed financial transactions and form the basis for ongoing tax investigations.

Family pension increase enhances survivors' pay; employers' NPS contribution also raised to strengthen employee retirement security.
Increase of family pension to a specified proportion of last pay drawn replaces the earlier slab-and-cap arrangement, removing the previous maximum limit to provide greater support to survivors of public sector bank employees. Simultaneously, employers' contribution to the National Pension System for PSU bank employees has been enhanced above the prior rate to strengthen retirement savings and financial security under the bipartite wage revision framework.

Policy certainty: government urges industry risk-taking while shifting to market-based finance and enabling long-term lending.
Government commits to policy certainty and regulatory coordination to encourage investment and risk-taking by industry, while shifting toward market-based finance with an operational Development Finance Institution providing long-term lending. The state will facilitate sunrise sectors and start-ups, address competitiveness and compliance burdens, explore insurance bonds as alternatives to bank guarantees, pursue start-up tax measures, and consider front-loading capital expenditure-notably in infrastructure-to sustain recovery.

Infrastructure financing expands urban metro and funds TOD and multimodal integration to improve connectivity and accessibility.
The government and an international development bank entered a sovereign loan and technical assistance package to finance construction of two metro lines and stations, combining capital funding with a grant to develop transit-oriented development and multimodal integration plans, strengthen implementing agency capacity, and ensure accessibility for vulnerable groups while targeting congestion relief, improved connectivity, environmental benefits, and local revenue generation through land-value uplift.

Contractual performance obligations require contractor to rectify portal service failures, restoring functionality by mandated deadline.
Government directed the contractor to remedy persistent failures in the Income Tax Department's e filing portal as a service delivery obligation, urged increased resources and expedited efforts, and required resolution of current functional defects by a specified deadline to restore reliable access for taxpayers and professionals.