Inclusive growth: government links inclusion and growth, pursuing reforms by conviction and public private partnership to expand social amenities.
The statement treats inclusive growth as mutually reinforcing with expansion of access to basic services and opportunities, citing targeted programmes (sanitation, household energy, financial inclusion, health insurance, medical education, piped water, property rights, vendor support, digital payments) as instruments that both advance inclusion and drive sectoral growth, while advocating "reforms by conviction," government as partner in progress with private sector engagement, and complementary labour, education and multilateral policies to sustain high growth and job creation.

Unaccounted cash sales uncovered, prompting seizure and probe into hawala receipts, benami property and bogus capital losses.
Searches on a pharmaceutical and real estate group disclosed systematic unaccounted cash sales, hawala cash receipts for exports, surplus API stock, conversion of cash into immovable property including benami purchases, and fabricated capital losses in securities; cash and jewellery/bullion have been seized and investigations continue.

Search and seizure uncover undisclosed cash sales and bogus creditors, prompting continued tax investigation and asset seizures
Income tax authorities conducted search and seizure operations across multiple premises of a group, seizing documentary and digital material that indicate systematic undisclosed cash sales, bogus sundry creditors and substantial unrecorded receipts; operations also uncovered alleged unaccounted property investments and led to seizure of unaccounted cash, jewellery and bullion, with investigations continuing.

Industrial corridor development: directives for states to expedite land allotment, infrastructure mapping and investor facilitation urgently.
The release sets governance and operational directives for the National Industrial Corridor Programme: the Apex Monitoring Authority will oversee integration of corridor projects with the PM GatiShakti Master Plan, NITI Aayog will map diverse infrastructure projects and seaport linkages, States must expedite land acquisition and adopt flexible land allotment models with affordable electricity to attract investors, and NICDC as the SPV will deliver plug and play infrastructure while coordinating investor facilitation and multimodal logistics development.

Post Devolution Revenue Deficit Grant released to eligible states to address post-devolution revenue gaps as recommended.
The Department of Expenditure released the fourth monthly instalment of Post Devolution Revenue Deficit Grants to fourteen States under Article 275 as part of a twelve-instalment disbursement plan implementing the recommended annual PDRDG total for 2022-23; eligibility and grant quantum were determined by the assessed gap between State revenue and expenditure after accounting for devolution, with statewise recommended allocations and instalment releases published.

Undisclosed income and benami property probe uncovers extensive unaccounted receipts and seized assets, prompting continued investigation.
Coordinated search and seizure operations targeted a coal-transportation group and linked premises, producing documentary and digital evidence that suggests systematic collection of undisclosed levies, cash payments to officials, unaccounted cash outflows for washeries and election expenditure, and numerous property agreements indicating large undisclosed, possibly benami, immovable investments; seizures of cash and jewellery occurred and further investigation is ongoing.

Transaction adviser empanelment: pre qualified panel streamlines access to advisers for preparing bankable PPP infrastructure projects.
The Department of Economic Affairs has constituted a national empanelment of pre qualified Transaction Advisers for PPP project transactions to provide project sponsoring authorities across central, state and local governments and public undertakings with streamlined, fast access to advisory support for preparation of bankable PPP projects, reduce appointment delays, and enhance transparency and accountability in adviser engagement.

Tariff value fixation for specified imports updated, substituting previous tables and applying from the notified effective date.
The Central Board of Indirect Taxes & Customs, under section 14(2) of the Customs Act, substitutes revised TABLE-1, TABLE-2 and TABLE-3 in the principal customs notification to fix tariff values for specified imports-listing values for edible oils, brass scrap, areca nut, gold and silver, distinguishing commodity categories and including explanatory definitions for certain precious metal entries-and declares the amendment to commence on the notified effective date.

Public debt management update: issuance fell, yields hardened and average maturity of new dated securities increased.
Central government dated securities issuances fell year on year while repayments continued; primary issuance yields hardened and average maturity of new dated issuances increased. No cash management bills were issued and the Reserve Bank did not conduct open market operations for government securities; average daily liquidity absorption under LAF stayed elevated. Total government liabilities rose quarter on quarter with public debt accounting for a larger share; a significant portion of dated securities had residual maturity under five years. Secondary market yields hardened due to increased supply, trading concentrated in the 7-10 year bucket, and commercial bank holdings of government securities increased.

National GST tribunal using existing appellate tribunal to resolve place of supply disputes, reducing cost and duplication.
Recommend designating the existing CESTAT as the National GST Tribunal to hear primarily place of supply disputes by restructuring selected benches and adding one State Member per bench; implement this through minimal amendments to GST law with GST Council approval, leveraging existing judicial and technical capacity and handling allied classification and valuation issues while leaving other GST appeals to state appellate mechanisms.

Tax search and seizure exposes alleged undisclosed income, bogus invoices and real estate layering after coordinated raids.
Income-tax authorities carried out coordinated search and seizure operations across Rajasthan and Mumbai targeting a business group in handicrafts, bullion trading, cash financing and real estate. Seized evidence indicates suppression of profits by inflating purchases with bogus bullion bills, cash returned against cheques to bullion traders, use of cash for real estate investments and acquisition of shell companies through entry operators, revealing prima facie substantial unaccounted income and significant seizures of cash and gold.

Tax evasion exposure uncovers use of bogus purchase bills and cash back schemes during coordinated search operations.
Coordinated search and seizure operations on a Chennai industrial group uncovered documentary and digital evidence of systematic tax evasion by debiting non genuine purchase bills from suppliers and accommodation entry providers; cheque payments to suppliers were reportedly returned in cash to create unaccounted investments. The group is also alleged to have controlled back office operations for its international hotel chain from India. Initial seizures included undisclosed cash and unaccounted gold jewellery; investigations are ongoing to determine full tax consequences and identify additional corroborative evidence.

Search and seizure uncovering alleged tax evasion via unrecorded cash sales and undisclosed assets, investigations ongoing.
Search and seizure operations uncovered evidence indicating widespread unrecorded cash sales, systematic under-reporting and undervaluation of stocks, substantial unaccounted inventory at one location, recovery of undisclosed cash, and records suggesting large-scale tax evasion through concealed income and assets.

Net Direct Tax collections show substantial year on year growth, driven by higher advance, TDS and self assessment receipts.
Net Direct Tax collections for 2022-23 as of 16 June 2022 show substantial year on year growth, comprising significant Corporation Tax and Personal Income Tax components. Gross collections before refunds have likewise increased. Major receipt heads include Advance Tax, Tax Deducted at Source, Self Assessment Tax, Regular Assessment Tax, Tax on Distributed Profits and other minor heads. Advance Tax, TDS and Self Assessment Tax each exhibit notable growth compared to the prior year, and refunds have been issued during the period.

Financial cooperation between India and Japan upgraded, committing continued coordination on macroeconomic policy, digital finance and investment.
India and Japan upgraded their bilateral finance dialogue to the Vice Minister/Secretary level to institutionalize senior-level financial cooperation, with officials and financial regulators discussing macroeconomic conditions, financial system resilience, financial digitalization, and the investment environment, and agreeing to continue discussions to promote cooperation, regulatory engagement, and expanded cross-border investment while exploring the next Dialogue in Tokyo.

Sovereign Gold Bond eligibility and issuance terms defined; investors get fixed interest and capital gains exemption on redemption.
Sovereign Gold Bonds will be issued by the Reserve Bank on behalf of the Government through designated channels and restricted to resident individuals, HUFs, trusts, universities and charitable institutions. Bonds are gram-denominated with specified minimum and annual maximum subscription ceilings; issue and redemption prices use the simple average of published gold closing prices for the preceding three working days, with a digital-payment price concession. The tenor is eight years with premature redemption allowed after the fifth year; bonds are issued as Government of India Stock, tradable, convertible to demat, usable as collateral, and subject to KYC and PAN requirements.

Tax literacy through educational games: interactive board games, puzzles and comics to teach students core tax and financial concepts.
The Income Tax Department launched an outreach initiative to promote tax literacy among school students and young adults using educational games, puzzles and digital comics that simplify income tax concepts. The products include board games illustrating good and bad financial habits, a collaborative memory game linking taxes to infrastructure, a 3D puzzle conveying that taxes build public goods, and comics using popular characters. Distribution will proceed through Income Tax office networks to schools with plans for wider retail availability, framing tax education as interactive, collaborative public outreach rather than a change in fiscal law.

Goods and Services Tax museum highlights GST's evolution and showcases customs enforcement artifacts for public tax education.
Dharohar - the National Museum of Customs and GST in Panaji occupies a historic Alfandega building and displays artifacts seized by Indian Customs alongside exhibits explaining basic customs procedures. The museum includes historical manuscripts, replicas and seized items to illustrate enforcement practices and cultural artefacts. A GST gallery traces the legislative and administrative development of the Goods and Services Tax, presenting GST as a significant indirect tax reform and providing a public educational resource on tax procedure and compliance-related history.

Tax literacy leads public engagement as Finance Ministry launches museum exhibits, games and media to promote tax awareness.
The Finance Ministry's closing ceremony dedicates the National Museum of Customs & GST and inaugurates a GST Gallery, while launching films and child focused educational products-board games, 3D puzzles and digital comics-to promote Tax Literacy and public awareness of taxes and fiscal reforms; complementary releases include commemorative postage items, a budget brochure and outreach media linking taxes to national development.

Public Sector Policy promotes CPSEs' role in core sectors, urging modernization, tech adoption and township smart city conversion.
The government will support CPSE contributions in identified core sectors under the New Public Sector Policy, prioritising proper public fund utilisation, capacity building, diversification and adoption of technologies such as Web 3.0 and Industrial Revolution 4.0. Complementary measures include a CEOs roundtable to chart a CPSE roadmap for self-reliance, workshops on CSR, appraisal systems, procurement from MSEs and GeM engagement, and conversion of selected CPSE townships into mini smart cities to strengthen operational capability and stakeholder engagement.