e-Bill processing system enhances transparency and expedites government payments with real-time tracking and efficiency.
The e-Bill processing system creates an electronic, faceless and paperless workflow for suppliers to submit and track payment claims in real time, integrating with PFMS and TSA to reduce processing delays, improve fund-release efficiency and strengthen safeguards against diversion of public funds; rollout begins with a pilot in selected Pay & Account Offices.

Digital bill submission mandated for government vendors, enabling authenticated online filing, FIFO processing and digital payments.
Launch of the e-Bill system establishes a mandatory digital mechanism for electronic submission, authentication by digital signature or Aadhaar-based e-sign, online tracking, digital processing and direct electronic payment of government bills; backend processing will follow a First-In-First-Out (FIFO) rule, with comprehensive digital storage and audit trail, initial rollout across nine Pay and Accounting Units and phased expansion planned.

Economics of Competition Law conference emphasizes market reforms and enforcement dialogue through virtual sessions and expert plenary.
The Competition Commission of India will hold the 7th National Conference on Economics of Competition Law in virtual mode, featuring a keynote, a plenary on reforms and market deepening, and two technical sessions. The Conference aims to stimulate research, develop antitrust economist capacity, and derive enforcement-relevant inferences for the Act. Media access is permitted in virtual mode subject to advance registration to receive the event weblink.

Electronic bill processing enhances government payment transparency and enables online, trackable supplier claims across central ministries.
Launch of a nationwide Electronic Bill (e Bill) processing system to be implemented across all Central Ministries and Departments, enabling suppliers and contractors to submit claims online and track payments in real time to achieve faceless, paperless, transparent and efficient government payment operations; and emphasis on the Public Financial Management System (PFMS) as the unified IT platform for government payments including direct benefit transfers and accounting functions.

Non-Million Plus city grants split into untied and sector-tied components to bolster sanitation and water services.
Grants targeted to Non-Million Plus cities were released to six States as part of a broader fiscal programme: allocations follow a Finance Commission-based framework splitting grants for Non-Million Plus cities into 40% basic (untied) grants-usable for location-specific needs except salaries-and 60% tied grants. Tied grants are equally earmarked for sanitation and solid waste management (including star-rating attainment) and for drinking water, rainwater harvesting and water recycling, intended to supplement existing central and state schemes; State-wise releases are recorded in an annexure.

Financial stability oversight: FSDC urges continuous regulatory vigilance to address macro financial vulnerabilities and promote sector development.
The Financial Stability and Development Council (FSDC) reaffirmed its role in monitoring macro financial conditions and institutional functioning, emphasising continuous vigilance by the Government and regulators to identify and mitigate medium to long term financial vulnerabilities. The Council reviewed mandates and macro financial challenges, discussed measures for financial sector development to support inclusive growth with macroeconomic stability, and noted actions by the FSDC Sub Committee and follow up on prior decisions.

Trade promotion strategy revamped to create a future-ready commerce department with centralized processes and strengthened negotiation teams.
Revamping the Department of Commerce aims to create a future-ready institutional architecture with a dedicated Trade Promotion Body to set export targets and execution accountabilities, strengthened DGFT and missions for market intelligence, multi-skilled negotiation teams, a Trade Remedies Review Committee for transparent investigations, centralized digitized trade facilitation, and a centralized data and analytics ecosystem to support Brand India and agile market-responsive operations.

Tax Audit Report compliance: taxpayers must accept submitted audit reports to complete statutory filing and verification.
More than 29.8 lakh Tax Audit Reports and related statutory audit forms were filed via the electronic portal, with substantial submissions on the extended due date and in the final five days; filings included major audit report categories and other specified forms. Additionally, over five crore income tax returns were verified, a majority processed, and refunds issued, and taxpayers are urged to accept the audit reports submitted by their chartered accountants to complete statutory submission and enable return processing.

Urban local body grants released to states for Non Million Plus cities, with distinct untied and tied funding for services.
The Department released grants to States for Urban Local Bodies in Non Million Plus cities, with funding structured per the Finance Commission's recommendations: 40% as basic (untied) grant for location specific needs (excluding salaries and establishment costs) and 60% as tied grant to support service delivery. The tied portion is split equally between sanitation and solid waste management (including star rating attainment) and drinking water, rainwater harvesting and recycling, intended to supplement existing central and state schemes.

Sovereign souvenir coin launch underscores need for upskilling, quality assurance, and branding of state numismatic production.
SPMCIL celebrated its seventeenth foundation day with a virtual programme unveiling the first colour souvenir coin themed "Panchtantra," attended by senior finance ministry officials and company leadership, and recognising meritorious employees. The finance ministry emphasised upskilling and technological upgrading, together with improving product quality and branding SPMCIL as a lead producer of currency and other sovereign products, signalling operational priorities for workforce development, quality assurance, and public branding of the state-owned issuer.

Income tax e Filing portal: over 6.2 crore ITRs and 21 lakh TARs filed; filers urged to submit pending returns now.
More than 6.2 crore ITRs and about 21 lakh major TARs were filed on the new e Filing portal as of 10 February 2022, with detailed breakdowns by ITR type and substantial tax audit filings (3CA 3CD, 3CB 3CD and other audit forms). The Department issues reminders to taxpayers and chartered accountants to avoid last minute filings and provided two dedicated helpdesk email addresses for e filing grievances. The ITR 1 specimen sets out eligibility, income heads, deductions, tax computation, schedules for advance tax and TDS/TCS, bank details for refund and verification fields.

Investment facilitation: coordinated policy, incentive and single window measures to streamline foreign company entry and expansion.
Central initiatives to attract foreign investment comprise the Make in India programme, Production Linked Incentive schemes for manufacturing, FDI policy reforms, Project Development Cells, an Empowered Group of Secretaries to fast track investment, a GIS-enabled Industrial Land Bank for site selection, and a National Single Window System to streamline approvals, supported by state reforms under the Business Reforms Action Plan and complementary fiscal and regulatory measures to reduce compliance burdens and promote outreach.

Core sector growth signals industrial recovery as infrastructure and manufacturing policy measures aim to boost output.
Growth in the Core Sector rose by 3.4% in November 2021 year on year, with April-December 2021 expansion at 12.6%. The Core Sector accounts for 40.27% of the IIP weight, affecting industrial output. Government measures to bolster industry include PM Gati Shakti, National Infrastructure and Monetization Pipelines, India Industrial Land Bank, Industrial Park Rating System, National Single Window System, PLI schemes, GST, corporate tax reduction, labour code reforms, ease of doing business efforts, FDI reforms, procurement support, and the Phased Manufacturing Programme. Budget 2022-23 increases capital expenditure allocation, while the Economic Survey projects strong GDP and manufacturing growth for 2021-22.

Income tax return filing encouraged with dedicated e filing helpdesks and reminders to avoid last minute submissions.
Around 6.17 crore Income Tax Returns and about 19 lakh major Tax Audit Reports have been submitted on the new e Filing portal, covering multiple ITR types and tax audit forms including Forms 3CA 3CD, 3CB 3CD and other audit filings. The Department is issuing reminders to taxpayers and tax professionals to avoid last minute filing and has provided two helpdesk email addresses ([email protected] and [email protected]) for e filing grievance resolution.

Post Devolution Revenue Deficit Grants released to eligible states to meet assessed revenue expenditure gaps after devolution.
Post Devolution Revenue Deficit Grants have been provided as equal monthly instalments to 17 States under Article 275 to cover assessed revenue-expenditure gaps after devolution. The Department of Expenditure released the eleventh instalment in the current financial year in accordance with the Fifteenth Finance Commission's recommendations on eligibility and quantum, and most of the Commission's recommended grant for the year has been released to eligible States.

Startup recognition expands rural micro-entrepreneur access to seed funding, procurement relief and eased compliance.
Recognition of micro enterprises as recognized startups under the Startup India Initiative enables rural micro-entrepreneurs to access financial support through a Seed Fund Scheme and a Fund of Funds that channel capital to startups via incubators and registered funds. DPIIT-recognized startups receive procurement relaxations, a dedicated Government e-Marketplace corner, limited-period self-certification under specified labour and environmental laws, temporary income-tax exemption, procedural facilitation for exit, and expedited intellectual property support.

Fiscal deficit reduction signals stronger revenue-led recovery and renewed emphasis on asset monetisation and privatisation.
Fiscal deficit for April-November 2021 was substantially lower than in the prior two years, reflecting a realistic budget that internalised off budget items and relying on strengthened revenue mobilisation to reduce both fiscal and primary deficits for the period.

AatmaNirbhar Bharat reforms boost industrial growth through PLI incentives, infrastructure pipelines and asset monetisation.
Initiatives under AatmaNirbhar Bharat combine structural and procedural reforms to reinforce industrial performance through instruments such as the Production Linked Incentive, the National Infrastructure Pipeline and the National Monetization Plan, supplemented by sector-specific measures including a revised MSME definition with Udyam registration, telecom and aviation liberalisation, a new inland vessels statute, targeted electronics and renewable energy support, enhanced credit flows and a strategic disinvestment framework to mobilise private investment and improve capacity utilisation.

Sustainable Development Goals progress prompts strengthened environmental regulations, plastic phase-out measures and expanded air quality programmes.
India's SDG performance improved with more states and districts classified as front runners, underpinned by environmental policy actions: increased forest cover, rules to phase out single use plastic and draft extended producer responsibility for packaging, groundwater and reservoir management, improved compliance by grossly polluting industries in the Ganga basin, implementation of the National Clean Air Programme across designated cities, and reaffirmed climate commitments with emphasis on mindful resource use and sustainable finance initiatives.

Power sector reform-linked borrowing space enables states to access additional fiscal room contingent on meeting sectoral performance benchmarks.
The central government authorises additional borrowing space for States conditional on implementation of specified power sector reforms and satisfaction of performance benchmarks. Mandatory reforms include state assumption of DISCOM losses, transparent financial reporting, timely accounts and audits, and legal and regulatory compliance. Eligibility is assessed on metering coverage, direct benefit transfer of subsidies, government entities' bill payments, prepaid meters in offices, and adoption of innovations; bonus marks apply for privatization. The Ministry of Power evaluates performance and recommends States for borrowing permission.