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    Sales Tax Assistant Commissioner arrested for demanding bribe of Rs 8 lakh
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August 11, 2026
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GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
August 11, 2026
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Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
August 11, 2026
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Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
August 11, 2026
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Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
August 11, 2026
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Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
August 11, 2026
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MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
August 11, 2026
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Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
August 11, 2026
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Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
August 11, 2026
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Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
August 11, 2026
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Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders.
Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
August 11, 2026
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Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law.
Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.
August 11, 2026
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Money-laundering investigation into an alleged liquor scam leads to arrest and proposed custodial interrogation under the prevention law.
Money-laundering investigation under the Prevention of Money Laundering Act concerns an alleged liquor scam in Chhattisgarh. A former state political party treasurer has been arrested for alleged involvement and is to be produced before a local court for a request for custodial interrogation. The alleged scheme is stated to have involved control of the state excise department by a criminal syndicate, with multiple accused named in six chargesheets.
August 11, 2026
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Immediate FIR registration for every missing person is mandatory, with missing children treated as suspected kidnapping or abduction cases.
Immediate FIR registration is required whenever information is received that any person is missing, irrespective of age or gender, without preliminary inquiry. Missing-person FIRs must include relevant provisions concerning kidnapping and trafficking. A missing child must be treated from the outset as a suspected case of kidnapping or abduction. States and Union Territories may face contempt action for non-compliance. Traced children should ordinarily be restored to their families within 24 hours unless trafficking or exploitation by the family is suspected.
August 11, 2026
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Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
August 11, 2026
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Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
August 10, 2026
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GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
August 10, 2026
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Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
August 10, 2026
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Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
August 10, 2026
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Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
August 10, 2026
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High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.

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CAD will be Contained at US $ 70 Billion; Government Committed to the path of Fiscal Consolidation and to Contain Fiscal Deficit within 4.8% of GDP: says Dr Arvind Mayaram, Secretary, Department of Economic Affairs (DEA)

October 1, 2013

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Following is the Press Statement made by Dr Arvind Mayaram, Secretary, Department of Economic Affairs (DEA), Ministry of Finance here today:

Current Account Deficit (CAD)

The RBI has released the Balance of Payment (BoP) data for the First Quarter of 2013-14 yesterday. Current Account Deficit (CAD) is at US $ 21.8 billion (4.9 per cent of GDP), which has been largely financed by capital flows.

• The elevated level of CAD in Q1 was mainly due to gold imports which stood at US $16.5 billion. CAD would have been lower at US $ 14.5 billion excluding the higher level of gold imports. With the measures announced by the Finance Minister on August 12, 2013 to compress gold, it is estimated that gold imports could be restricted to about 800 tonnes and substantial gains could accrue in the next nine months. According to the Central Board of Excise and Customs(CBEC)data, gold imports in April were 142.47 MT, in May 161.38 MT and in June 31.46 MT. Therefore, in Q1, the gold imports were of 335.31 MT .However, in July,2013 it was 47.75 MT, in August, 2013 3.38 MT and in September, 2013 (up to 25th) it has been 7.24 MT. This indicates a very sharp compression in the gold imports in Q2 onwards and we expect this trend to continue. In August, exports registered a double digit growth for second successive month with almost a 13 per cent growth over the corresponding period last year. Import growth in August, 2013 was slightly negative at -0.68 per cent as compared to the corresponding period last year. Trade deficit narrowed in August to a five month low of USD 10.9 billion. Thus, CAD will be contained at US $ 70 billion .Already, many institutional analysts have revised their BoP outlook on CAD and capital flows.

• In so far as capital flows are concerned, the Union Finance Minister Shri P. Chidabaram had stated that the base line estimate was US $ 64 billion and unveiled steps to raise this by US $ 11 billion through quasi-sovereign bonds, ECBs by PSUs and measures to boost NRI deposits. As per the RBI BoP data, FDI inflows were US $ 10.5 billion in 2013-14 (Q1) as against US $ 8.2 billion in Q1 of last year.

• The base line projection of net FDI of US $ 24 billion could be exceeded. Besides, Banking Capital (net) was estimated at US $ 15 billion, which could go up significantly on account of the swap window announced by Governor, Reserve Bank of India (RBI) for FCNR (B).

• As such, we are confident that we shall be able to contain CAD at US $ 70 billion as well as get additional capital flows to finance it fully without any recourse to draw down of reserves in this year.

Fiscal position up to August, 2013

• Gross Tax collection up to the month of August, 2013 has shown a growth of 8.7% on Year on Year basis. However, for the month of August, 2013 there has been marked improvement and the tax collection has grown by 18.3% over the collections for August, 2012. Preliminary figures for September show further improvement. It may be relevant to indicate here that bulk of revenue collections are towards the 2nd half of the FY. Cash planning of the Government also takes this fact into account, wherein the borrowing (nearly 2/3rd) is loaded in first half of FY.

• On the expenditure side, total expenditure of Rs 662936 crore up to August, 2013 is 39.8% of BE against 37.9% seen for corresponding period in previous FY (COPPY). Higher expenditure up to August, 2013 is mainly on account of higher Plan spending (33%) in comparison to 28.4% COPPY. Higher spending was deliberately planned in first half for speedier implementation of various welfare programmes of Government.

• Total expenditure up to August showed a growth of 17.3% on Year on Year (YoY) basis, however in August it has stabilized to 10.9% growth over August, 2012. It may not be out of place to mention that austerity measures have already been announced by Government.

• Government is committed to the path of fiscal consolidation and as announced by FM will contain the FD within 4.8% of GDP, as budgeted.

Growth Numbers

• The Union Finance Minister Shri P. Chidambaram in his statement on August 12, 2013 had stated that growth is likely to pick up from Q2 onwards mainly on account of three factors (i) increase in the sown area by about 9.1 per cent (ii) acceleration in the pace of spent expenditure (iii) impact of the projects cleared by Cabinet Committee on Investment.

• When we look at the real activity data it only reinforces what the Finance Minister had said. The index of Industrial Production (IIP) entered the positive territory and grew by 2.6 per cent in July, 2013 as compared to the level in the month of July last year. The gain was mainly on the strength of manufacturing and electricity sectors which saw a growth of 3 per cent and 5.2 per cent respectively. The capital goods data stood at 15.6 per cent and there was also a 6.8 per cent growth in the consumer non durables segment. Though the consumer durables did witness a negative growth rate but we believe that it is likely to pick up in the remaining quarters on account of the festival demands in the coming months.

• The eight core industries which have a combined weight of 37.90 per cent in the IIP registered a growth of 3.7 per cent in August. The pickup in growth in 2QFY14 is encouraging and compares with an average of 1.6 per cent seen in 1QFY14. The most encouraging data point was the uptick in electricity up 6.7 per cent where the good rains have helped hydel power generation. Other encouraging data points are (i) the uptick in the construction indicators - both cement and steel- up 5.5 per cent YoY and 4.3 per cent YoY respectively and (2) the pick-up in coal production up 5.5 per cent - the highest reading since November,2012. This in turn has a derivative impact on the external account as coal imports, along with gold and oil had risen sharply last year.

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