Revenue Deficit Grant released under finance commission recommendations to address post devolution revenue gaps in eligible States.
The Department of Expenditure released the eighth monthly instalment of the Post Devolution Revenue Deficit Grant to 14 States, increasing total 2022-23 releases to Rs. 57,467.33 crore against a recommended annual grant of Rs. 86,201 crore. These grants, provided under Article 275 of the Constitution, are disbursed in twelve equated monthly instalments per Finance Commission recommendations to cover the assessed post devolution revenue expenditure gap for the period 2020-21 to 2025-26; state wise instalment and cumulative figures accompany the release.

Financial support for PPP project development expenses to fund transaction advisers and improve bankability of infrastructure projects.
Notification establishes the India Infrastructure Project Development Fund (IIPDF) Scheme as a Central Sector initiative to provide financial assistance to Project Sponsoring Authorities at Central and State levels for project development expenses, specifically costs of transaction advisers and consultants, to create a shelf of bankable PPP projects; this funding is additional to existing PPP support schemes and is complemented by a pre qualified transaction adviser panel and a Manual for utilisation.

IndAus ECTA ratification advances; parliamentary steps and DTAA amendments expected to enable early implementation and ministerial talks.
IndAus ECTA ratification and early implementation were discussed; Australia informed that the agreement and domestic amendments addressing Double Taxation Avoidance have been introduced in Parliament and are expected to be ratified following the Joint Standing Committee on Treaties' report. Both sides agreed to hold expert-level consultations to prepare a roadmap for a comprehensive IndAus ECTA and to convene the Joint Ministerial Commission early next year to advance implementation and negotiations.

Condonation of delay in filing Form 10A grants additional time for applicants under charitable and deduction provisions.
The Central Board of Direct Taxes condones delay in electronic filing of Form 10A and permits belated filing up to 25th November, 2022 for applications pertaining to registration and approvals under the statutory regimes for charitable trust and institution exemptions, donation deduction eligibility, and research expenditure deduction, providing procedural relief to avoid genuine hardship.

Draft common Income-tax Return simplifies filing via a wizard, consolidated schedules, selective pre-filling and reduced compliance burden.
Draft common Income-tax Return consolidates existing ITRs (except ITR-7) into a single, wizard-driven form with mandatory core parts (basic information, Schedule TI, Schedule TTI, bank details, Schedule TXP) and conditionally visible schedules. The utility will show only applicable fields based on taxpayer answers, allow repetition of schedules where needed, expand pre-filling and third-party data reconciliation, and retain ITR-1/ITR-4 as optional formats; stakeholder inputs will inform final notification and release of the online utility.

Plastic waste recycling drives vertical gardens in government buildings, reusing bottles and reducing urban pollution.
The Income Tax Department has implemented an operational sustainability initiative converting waste plastic bottles into vertical garden planting containers mounted on walls of government and public buildings, integrating plastic waste recycling with urban greening through replication across multiple sites and collaborative outreach to institutions and public infrastructure to reduce landfill waste and mitigate surrounding pollution.

Environmental initiative expands urban green cover through departmental micro-forests and plant gifting at official events.
The HARIT Aaykar initiative commits the Income Tax Department to expand green cover by planting trees and creating micro-forests in and around departmental buildings and public areas, exemplified by an inaugural micro-forest near the Attari border; the program sets an implementation timeframe culminating on the anniversary date the following year and encourages events to welcome dignitaries with potted plants or a single stalk of a flower.

Basic Statistical Return reporting guides data-driven bank regulation and reporting rationalisation, supporting financial inclusion and risk analysis.
The Basic Statistical Return (BSR) system is the Reserve Bank of India's enduring bank-reporting framework that has enabled data-driven policy, tracked branch expansion and financial inclusion, and provided granular statistics to analyse shifts in credit composition and bank asset structures. The BSR has been periodically revised in coverage, periodicity and granularity, with technological improvements and selective discontinuation of schedules to reduce reporting burden; the system is positioned as a living instrument needing continued robustness, timeliness and adaptability to support regulatory analysis and financial intermediation.

Return filing deadline extended: due date for specified assessees moved to a later statutory filing date by CBDT circular.
The Central Board of Direct Taxes extended the due date to furnish the Return of Income for Assessment Year 2022-23: assessees whose original filing deadline was 31 October 2022 are granted an extended filing date of 7 November 2022 by administrative circular, thereby modifying the statutory compliance timeline under sub section (1) of Section 139 for the specified category of taxpayers.

Mission Mode recruitment accelerating appointment letters issuance and prioritising filling sanctioned government vacancies nationwide.
The central tax administration participated in a national Mission Mode Recruitment Drive, issuing appointment letters to newly selected personnel and combining in-person handovers at regional centres with virtual connectivity for other appointees, while ministries and departments were directed to prioritise filling sanctioned vacancies.

Grant allocation for million-plus cities advances solid waste management and ambient air interventions under finance commission recommendations.
The grant disbursement framework directs funds to Million-Plus cities with over two-thirds of the allocation for a Solid Waste Management component and the remainder for Ambient Air quality interventions. The Solid Waste Management component is to support drinking water quality and supply (including rainwater harvesting and recycling), sanitation, and achievement of star ratings by Urban Local Bodies in line with approved City Action Plans and commitments in tripartite Memoranda of Understanding.

Appointment of Controller General of Accounts - new CGA assumes responsibility for government accounting, reporting, and exchequer control.
Ms Bharati Das has assumed charge as Controller General of Accounts, the government-appointed office that functions as the principal advisor on accounting matters, responsible for establishing a Management Accounting System, preparing and submitting Union Government accounts, and overseeing exchequer control and internal audits for the central government.

Digital Banking Units expand digital banking infrastructure and deliver paperless savings, credit, investment and insurance with round the clock self service.
Digital Banking Units will augment digital banking infrastructure and financial inclusion by offering savings, credit, investment and insurance, including end to end digital processing for small ticket retail and MSME loans and facilitation of certain government sponsored schemes. Operations will be in assisted and self service modes, with self service continuously available, and banks may engage digital business facilitators and business correspondents to expand DBU reach.

CEPA implementation and investment facilitation steps to accelerate trade benefits and streamline cross border investment processes.
The Joint Task Force advanced implementation measures under the India UAE Comprehensive Economic Partnership Agreement (CEPA), recorded progress on CEPA governance through the CEPA Joint Committee and sub committees, and urged businesses to use the preferential framework. Parties reviewed twelve rounds of Bilateral Investment Treaty negotiations, committed to accelerate conclusion of a balanced agreement, and agreed to explore sectoral investment facilitation including Single Window Solutions and Virtual Trade Corridors to reduce trade and investment costs and time.

Direct tax collections show strong year on year growth and significant refunds issued, reflecting mid year budget progress.
Provisional direct tax receipts up to 8 October 2022 show gross collections substantially higher than the prior year and net collections after refunds also up, representing just over half of the year's Budget Estimates. Corporate Income Tax grew at a lower rate than Personal Income Tax in gross terms, with narrower net growth differentials after refunds. Refunds issued during the period increased markedly year on year and have materially affected net tax realisations.

Post Devolution Revenue Deficit Grant released to recommended states under constitutional Article to address post devolution revenue gaps.
The Department of Expenditure released the seventh monthly instalment of the Post Devolution Revenue Deficit Grant under Article 275, implementing the Fifteenth Finance Commission's recommendation to distribute entitlements to fourteen recommended States in twelve equated instalments. Eligibility and quantum were determined by the Commission based on assessed gaps between State revenue and expenditure after accounting for devolution; the instalment mechanism enables cumulative tracking of releases to meet post devolution revenue shortfalls.

ECLGS modification expands collateral-free liquidity for civil aviation sector, raising eligible loan limits and retaining existing conditions.
Modification of the Emergency Credit Line Guarantee Scheme increases collateral free credit availability for the civil aviation sector by raising the ceiling on eligible loans and creating an equity linked tranche; all other operational guidelines, eligibility criteria, terms and conditions under the existing ECLGS framework remain applicable.

Extension of audit filing deadline for certain assessees under the Income tax Act provides short additional time to submit required audit reports.
The CBDT has granted a short extension of the due date for filing various audit reports under the Income tax Act for Assessment Year 2022 23, postponing the deadline that was 30 September 2022 to a brief later date for certain categories of assessees, by way of a circular issued on 30 September 2022 to address filing difficulties faced by taxpayers and stakeholders.

Performance incentive awards recognise innovation in tax administration and reinforce tech-driven faceless assessment and grievance focus.
The Finance Minister's Award scheme operates as a performance incentive recognising officers for innovative contributions to direct tax administration after a multi-layered selection process assessing quality and service standards. The Department emphasises technology-including a faceless system and artificial intelligence-to achieve non-discretionary tax collection, improve voluntary compliance and enhance taxpayer services. Operational priorities directed by the Finance Minister include expedited returns processing, faster refunds issuance and strengthened grievance redressal, reinforced by capacity building and a dedicated grievance-disposal week to accelerate resolutions.

Illicit cannabis eradication led by intelligence-driven enforcement and community mobilisation, resulting in large-scale destruction of plantations
CBN executed an intelligence led destruction operation that verified illicit cannabis cultivation through field surveys, used GPS tagging and drone surveillance, and mobilised multiple CBN teams with DRI and local agency support to physically destroy 1,032 hectares of illicit cannabis in difficult high altitude terrain, while combining enforcement with village sensitisation and legal awareness to secure local cooperation.