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September 1, 2026
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Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
September 1, 2026
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Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
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Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.
September 1, 2026
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Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
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Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
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Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
September 1, 2026
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Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
September 1, 2026
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GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
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Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
September 1, 2026
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
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Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.

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Customs, DGFT & SEZ

Government Approves 17 Proposals of Foreign Direct Investment Amounting to about Rs.262.5594 Crore

May 7, 2013

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Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 13, 2013, the Central Government has approved Seventeen (17) proposals of Foreign Direct Investment amounting to Rs. 262.5594 crore approximately.

Following are the details of proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 13.03.2013:    

Following Seventeen (17) proposals have been approved :

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. In crore)

INDUSTRIAL POLICY & PROMOTION

1

Ms. Sonia Sharma and Mr. Harish Kumar Sharma

Induction of foreign capital contribution in the proposed LLP.

0.32

2

M/s Hussmann International Holdings (Netherlands) Cooperatief, U.A

Induction of foreign capital contribution in an LLP.

0.0004

PHARMACEUTICALS

3

M/s SIDD Life Sciences Pvt. Ltd., Tamil Nadu

Post facto approval for issuance of shares prior to receipt of full inward remittance.   Engaged in the business of manufacturing of medical/surgical equipment & orthopaedic appliances etc.

0.61(already brought in)

4

M/s Sanofi-Synthelabo (India) Limited, Mumbai

An existing pharma company to acquire another pharma company through internal accruals.

180.00

5

M/s Oxford Lifesciences Pvt. Ltd., Mumbai

Transfer of shares from Resident to NR in a brownfield Indian pharmaceutical company.

0.18

6

M/s Oxford Laboratories Pvt. Ltd., Mumbai

Transfer of shares from Resident to NR in a brownfield Indian pharmaceutical company.

0.52

7

M/s Mylan Laboratories Limited, Hyderabad

An existing Indian pharma company with FDI to acquire formulation vials manufacturing facility from another existing Indian pharma company.

Nil

 FINANCIAL SERVICES

8

M/s AGS Transact Technologies Limited, Mumbai

Company having FDI to set up White Label ATMs.

Nil

 DEFENCE PRODUCTION

9

M/s Amertec Systems Pvt. Ltd., New Delhi

Induction of foreign equity to carry out the manufacturing of advanced electronic systems, test systems, simulators and electronic systems for military applications.

0.05

 HOME AFFAIRS

10

M/s Pipavav Defence and Offshore Engineering Company Ltd.

A defence sector company, which has 26 percent foreign equity participation (provisional approval) including for issuance of FCCBs has sought amendment in FC approval and issuance of shares to an identified foreign investor.

Nil

INFORMATION & BROADCASTING

11

M/s Asia Net Communication Ltd.

Transfer of shares from Resident to Non-resident to carry out the business of broadcasting non-news and current affairs television channels.

0.02

INDUSTRIAL POLICY & PROMOTION

12

M/s Delhi Duty Free Services Pvt. Ltd.

Post facto approval for transfer of shares from resident to Non-resident for setting up a JV company operating duty free shops.

Nil

13

M/s Moton Colortronic Plastic Machinery (I) Pvt. Ltd.

Post-facto approval for issue and allotment of shares issued towards pre-incorporation expenses to carry out the business of manufacture of Auxillary equipment used in Plastic/Polymers processing industry.

Nil

TELECOMMUNICATIONS

14

Augere Wireless Broadband (I) Pvt. Ltd.

To capitalize the balance amount of the spectrum fee earlier paid to DoT.

70.66 (already brought in)

INDUSTRIAL POLICY & PROMOTION

15

M/s Zap Piling India Pvt. Ltd., Chennai

Post facto approval for issuance of shares on incorporation of the company, the consideration for which was received subsequently.

2.54

16

Mrs. Jayalakshmi Jagannathan, Chennai

To set up an LLP.

0.009

17

M/s Na Pali Europe SARL, France

Induction of foreign contribution in an Indian company to carry out the business of single brand retail trading.

7.65

 The following seven (7) proposals have been deferred:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Mylan Laboratories Ltd., Hyderabad

An existing listed Indian pharma company with FDI to acquire entire business of manufacturing from another existing Indian pharma company.

2

M/s Muthoot Finance Limited, Kerala

Company having FDI to set up White Label ATMs.

3

M/s Euronet Services India Pvt. Ltd.

Company having FDI to set up White Label ATMs.

4

M/s Empays Payment System India Pvt. Ltd., Mumbai

Company having FDI to undertake the business of providing Multi-bank Instant Mobile Technology.

5

M/s Dewsoft Fabrication Private Limited, New Delhi

A defence sector company to transfer 26 % holdings to a foreign company against technology transfer fee payable to the foreign company.

6

M/s Punj Lloyd

Representation against the denial of security clearance.

7

M/s K. Tech Pvt. Ltd., Chennai

To issue equity shares against the value of import of first hand machinery to carry out the business of manufacturing certain automobile components.

             The following one (1) proposal has been rejected:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Trakshun Management Consultants LLP

LLP to become a WOS of a foreign company.

            The following two (02) proposals have been withdrawn from the Agenda:      

Sl. No

Name of the applicant

1

M/s Srei Infrastructure Finance Limited, Kolkata

2

M/s Stemcor Holdings Ltd.

 Decision in the following one (1) proposal will be communicated separately:

 Sl. No.

Name of the applicant

Particulars of the proposal

1

M/s Domino Printech Pvt. Ltd.

Clarification regarding clause 6, 11 and 19 of FC approval dated 10.5.2012.

 

DSM/RS/ka

(Release ID :95765)

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Acts Income Tax