Exchange rate notification sets customs conversion rates for imported and export goods effective mid October, replacing prior notification.
Determination under section 14 of the Customs Act, 1962 prescribing the rate of exchange for specified foreign currencies for customs conversion, superseding the prior notification and differentiating rates for imported and export goods. The notification, effective 16 October 2015, annexes Schedule I (per unit rupee rates for major currencies with separate import and export figures) and Schedule II (rupee equivalents per 100 units for specified currencies), and applies prospectively except as to prior completed matters.

MSME cooperation enables trade fair exchanges and delegation visits without creating any financial or legal commitment.
An MoU between the India-Taipei Association and the Taipei Economic and Cultural Center provides a structured framework for MSME cooperation, enabling mutual understanding of markets, technologies and policies, participation in each other's trade fairs and reciprocal business delegation exchanges to pursue joint ventures, tie-ups and technology collaboration. The MoU is non binding and expressly imposes no financial obligations or liabilities on either Party.

Opium poppy licensing: government sets yield thresholds and prioritizes traditional cultivators under transparent policy.
Notification sets general conditions for opium poppy cultivation licences for the crop year, prescribing specific yield thresholds and a Minimum Quantity Yield requirement as eligibility criteria. Licence issuance will be considered based on past performance, compliance with licensing conditions, augmented government processing capacity, and domestic and export demand, with objective, transparent allocation and priority to traditional cultivators.

GST refund processes: standardized electronic claims, GSTN-Customs verification, ITC blocking, unjust enrichment checks, and timed interest rules.
The report prescribes a unified electronic refund framework under GST covering triggers (excess payments, exports, provisional assessments, appeals, investigations, diplomatic purchases, credit accumulation, inverted duties, rebates, tourist refunds), mandatory system linkages (GSTN-ICEGATE), automatic blocking of claimed ITC on application, CA or threshold-based self-certification to address unjust enrichment, defined relevant dates and a one-year filing limit, a 90-day sanctioning period with interest for delay, invoice/ITC matching to minimize manual verification, pre-audit/post-audit thresholds, and statutory provisions for adjustment and recovery.

Trade facilitation and supply chain security prioritized; coordinated customs actions and information sharing to enhance compliance and flow.
Directors General and Commissioners of customs committed to a ten point action agenda prioritising Trade Facilitation and Supply Chain Security, supporting Authorized Economic Operator programmes and mutual recognition, improving compliance and paperless processes, sharing Passenger Name Record practices, conducting joint operations on targeted commodities, updating IPR enforcement best practices, and strengthening customs business dialogue, communication and monitoring to operationalise coordinated customs cooperation.

Indirect tax revenue growth boosts provisional collections and advances mid year budget estimate achievement for 2015-16.
Provisional indirect tax collections in September 2015 rose 32.6% year on year, with year to date growth of 35.8% compared to the previous year. Central Excise led monthly growth at 68.4%, Service Tax increased 35.1%, and Customs rose 3.4%. The release reports each tax head's monthly collections, cumulative receipts up to September, and percentage of Budget Estimate achievement for BE 2015-16, with cess excluded where administered by other departments.

Export Promotion consultations seek MEIS adjustments and faster duty drawback refunds to boost exporter competitiveness.
Consultations with around 27 Export Promotion Councils focused on expedited duty drawback refunds, crediting of interest subvention, expansion and increase of incentives under the MEIS, governance delays in clearances, and requests for new trade agreements; the Commerce Secretary announced increased allocations for export incentive schemes, urged timely submission of claims, stressed limited frequent amendments to the Foreign Trade Policy 2015-20, encouraged exporter flexibility in market access, and flagged SEZs as strategic for Make in India while committing to convert suggestions into concrete Ministry actions.

Customs and excise duty exemption on bunker fuels reduces coastal shipping costs to promote modal shift and fuel efficiency.
The Department of Revenue granted an exemption from customs and central excise duty on IFO 180 CST and IFO 380 CST when used by Indian-flag vessels transporting EXIM, empty, and subsequently mixed EXIM, empty and domestic containers between domestic ports, removing duties that increased bunker fuel costs for coastal shipping.

Medical Value Travel promotion boosts India's healthcare services exports through an international summit fostering collaborations and market access.
Promotion of medical value travel and expansion of healthcare services exports is pursued through an international summit designed to catalyse collaboration, capacity building and market access for Indian providers. The summit showcases India's strengths and uses exhibitions, reverse buyer-seller meets, B to B meetings, conferences, regional forums, knowledge sharing and organised hospital visits to enable streamlined services exports and strategic partnerships.

Exchange rate determination sets notified foreign currency conversion rates for import and export valuation, with distinct import and export rates.
The Central Board of Excise & Customs, exercising powers under Section 14 of the Customs Act, has notified specific foreign currency conversion rates for valuation of imported and export goods, with separate import and export rates listed in Schedule I and per hundred unit rates in Schedule II, effective from the operative date and superseding the prior notification except as to earlier actions.

Index of Eight Core Industries shows sectoral divergence with refinery, electricity and fertilizers driving monthly growth.
Combined Index of Eight Core Industries for August 2015 is reported at 169.6 with year on year and cumulative April-August increases; provisional sectoral indices show notable monthly gains in refinery products, electricity and fertilizers and a decline in steel. The release provides weights, monthly and yearly indices and growth rates for each constituent industry, notes revisions to prior period indices based on updated source data, and records that refinery product comparability is affected by inclusion of special economic zone production data.

Export permission for basmati rice remains operative, subject to APEDA contract registration and ongoing market support.
No ban exists on the export of Basmati rice; exports remain permitted under the existing policy subject to registration of contracts with APEDA. There is no change in policy restricting shipments. The Government notes increased export quantities in the referenced period but acknowledges softer commodity prices have reduced realization, and it is taking steps to explore new markets and promote retail packs to improve returns and sustain export growth.

Exchange rate notification updated: revised official exchange rates now govern customs valuation for imports and exports.
The Central Board of Excise & Customs amended a notification under the Customs Act to substitute the Schedule I serial entry for a specified foreign currency, replacing prior exchange rate entries with distinct rates for imported and export goods; the amendment takes effect on the stated commencement date and governs customs valuation and related procedures.

Monetary policy: repo rate cut 50 bps to 6.75% with liquidity operations adjusted to support growth amid low inflation.
The Reserve Bank cut the policy repo rate by 50 basis points to 6.75%, kept the CRR at 4.0%, adjusted LAF operations to maintain liquidity (reverse repo at 5.75%, MSF and Bank Rate at 7.75%), and directed continued use of overnight, 14 day and longer term repo auctions and daily variable rate repos/reverse repos to support domestic demand amid contained inflation and incomplete bank transmission of past rate cuts.

Unique ID enabling financial inclusion expands credit access and improves detection of over lending while guarding privacy concerns.
The speech sets a regulatory agenda for sustainable financial sector growth: maintain low stable inflation, foster competition and measured innovation through new bank licences and incremental liberalisation, leverage a universal unique identifier to expand credit access and improve welfare targeting, end regulatory forbearance by classifying restructured loans as non performing while enabling early resolution via databases, Joint Lenders' Forum, Strategic Debt Restructuring and 5/25, accelerate enactment of a bankruptcy code to ensure speedy predictable creditor recovery, and build human capital in banks via market hires and training.

Indirect tax revenue growth records substantial year on year increase and improved budget estimate achievement for the fiscal period.
Provisional indirect tax collections for August 2015 increased 36.7% year on year, with cumulative collections up to August 2015 up 36.5% and BE achievement at 40.7%. Central Excise led monthly growth at 62.0% (BE achievement 45.1%), Service Tax rose 28.9% (BE achievement 35.8%), and Customs rose 21.2% (BE achievement 40.9%).

Trade Balance narrowed as merchandise exports and imports declined year-on-year, driven by lower oil imports.
Merchandise exports and cumulative April-August exports contracted year on year in August 2015, with provisional dollar and rupee values and percentage declines presented; imports also fell but by smaller percentages. Crude oil imports showed substantial year on year reductions while non oil imports rose modestly; the bulletin provides corresponding provisional trade balance figures. Separately, services trade for July 2015 reports provisional receipts, payments and a positive services trade balance in both US dollars and rupees.

Safeguard duty recommended to protect domestic steel producers from surge of imports pending final investigation.
Preliminary findings conclude that a substantial rise in imports of PUC corresponded with declining market share, falling prices, rising inventories and losses for the identified domestic industry. The Directorate identifies excess global capacity and export diversion as unforeseen developments causing increased imports, establishes a causal link between those imports and serious injury or threat thereof, finds critical circumstances warranting urgent action, and recommends provisional safeguard duty pending final determination while providing for further verification and a public hearing.

Indirect tax collections rise after policy measures and base growth, reflecting stronger revenue trend during the fiscal window
Aggregate provisional indirect tax collections for August and April-August 2015 rose markedly across Central Excise, Service Tax and Customs, with Central Excise showing the largest proportional increase. The report attributes a portion of the headline gains to specific policy measures-excise increases on fuel, higher clean energy cess, withdrawal of exemptions, and a Service Tax rate rise-while separately reporting an adjusted increase that removes these measures to reflect underlying tax base expansion.

Provisional safeguard duty recommended on hot-rolled flat steel imports; board review may lead to global safeguard application.
The Director General of Safeguards issued a preliminary finding recommending imposition of a provisional safeguard duty at twenty percent for two hundred days on hot-rolled flat products of non-alloy and other alloy steel in coils of a width of 600 mm or more, classified under Chapter 72 (tariff heading 7208 and tariff item 72253090) with certain exceptions; the recommendation will be examined by the Board of Safeguards and, if endorsed, forwarded to the Finance Ministry as a global safeguards measure applicable to imports from all countries.