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    Monthly Review of Accounts of Union Government of India upto the month of July 2026 (FY 2026-27)
    Subhash Chandra drops mention of Ambani allegations, shifts focus to settling Essel debt
    NATIONAL ACCOUNTS STATISTICS - 2026 PUBLICATION
    Commerce Secretary Shri Rajesh Agrawal Co-Chairs India-Brazil 8th Trade Monitoring Mechanism Meeting
    NPCI International and Uzbekistan’s NIPC Partner to Enable UPI Payments Across Uzbekistan via UZQR
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    Sugar prices remain firm across India despite govt measures to check rise
    Keralam MVD to introduce Aadhaar OTP verification for 60 more services from Sept 21
    Dissenting creditors alleged family-linked entities cast 61.78 pc votes that cleared Chandra's insolvency plan
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August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.
August 31, 2026
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Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.
August 31, 2026
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Synthetic-drug trafficking enforcement targets rail-borne amphetamine and MDMA consignments through baggage interceptions, seizures, follow-up delivery operations, and arrests.
Synthetic-drug trafficking enforcement involved two intelligence-led railway-station operations targeting amphetamine and MDMA transportation and receipt. Baggage intercepted at Bengaluru contained a crystalline substance preliminarily indicating amphetamine, while a separate Pune interception recovered substances purported to be amphetamine and MDMA tablets. The contraband and related packing material were seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Follow-up delivery action identified alleged receivers, and the carriers and alleged receivers were arrested under that statutory framework.
August 31, 2026
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India-Chile CEPA negotiations seek a balanced framework to expand trade, investment, technology cooperation and resilient supply chains.
India-Chile CEPA negotiations are being advanced toward conclusion by the end of the year through a balanced and commercially meaningful framework. The proposed partnership is intended to strengthen bilateral economic ties, expand trade and investment, and create equitable opportunities for businesses and people in both countries. Cooperation is envisaged in technology, talent and resilient supply chains, alongside enhanced engagement in healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering.
August 30, 2026
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Sugar price controls face persistent retail and wholesale price firmness despite duty-free imports, stockholding restrictions, and export prohibition.
Sugar retail and wholesale prices remained elevated despite measures intended to curb price increases, including duty-free imports of raw sugar, tighter stockholding norms for bulk users and dealers, and a prohibition on sugar exports. Ex-mill rates declined following the permitted duty-free imports, although customary margins continued between ex-mill, wholesale, and retail prices. Projected sugar production is lower than earlier estimates, while annual domestic demand remains substantial.
August 30, 2026
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Aadhaar OTP verification expands online vehicle and licensing services, reducing physical visits and curbing intermediary exploitation.
Aadhaar-based OTP verification will be extended to additional vehicle- and driving-licence-related services through the Vahan and Sarathi portals. The digital arrangement is intended to reduce physical visits to transport offices, prevent intermediary exploitation arising from delayed processing, and enable applications to be processed on a first-come, first-served basis. Physical attendance will remain necessary for vehicle inspections, identification of legal heirs, personal hearings, and authentication where Aadhaar OTP verification fails.
August 30, 2026
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Related-party creditor voting in personal insolvency turned on whether the debtor held majority ownership or direct board control.
Dissenting lenders challenged the admission and voting rights of five creditors alleged to be family-linked associate or related entities, contending that their voting share enabled approval of a personal insolvency repayment plan. They alleged invalid post-moratorium guarantee invocations, undisclosed liabilities, inadequate claim scrutiny and incorrect voting-share computation. The third member rejected the voting-rights challenge, treating associate status as requiring the debtor's personal majority shareholding or direct board control, and accepted the repayment plan.
August 30, 2026
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Examination continuity and candidate fairness require re-examination where power failures prevent completion, alongside review of infrastructure accountability.
NEET-PG 2026 examination continuity was disrupted for candidates at two Jaipur centres because of internal power-supply failures attributable to the technological partner and examination-conducting agency. A re-examination has been scheduled for the affected candidates, with the venue and revised admit cards to be communicated separately. Action against the entities responsible for ensuring adequate examination infrastructure is under consideration.

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Existing Indian Railways Network, its Operations and its Core Activities Will Remain with the Indian Railways Only and not Open for Privatization: Gowda

October 10, 2014

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Railways Allocated 40 Per Cent More Budget for Cleanliness

Indian Railways Taking Determined Stride Towards Running High Speed Bullet Trains

Railway Minister Inaugurates the 59th Annual Railway National Awards Function-2014 at Bangalore

The Minister of Railways, Shri D.V.Sadananda Gowda inaugurated the 59th Annual Railway National Awards Function - 2014 in Bangalore today. Also present among others on the occasion were Shri Arunendra Kumar, Chairman, Railway Board, Shri V.K.Gupta, Member Engineering, Shri Alok Johri, Member Mechanical, Shri A.K.Mital, Member Staff, Shri P.C.Gajbhiye, Secretary, Railway Board and Shri P.K.Saxena, General Manger, South Western Railway. Shri Gowda gave away National Awards for Outstanding Service – 2014 to a total number of 132 railway officers/staff from all over the country. The prestigious Govind Vallabh Pant Shield for the best overall performance amongst the best zonal railways and production units was bagged by West Central Railway (headquartered at Jabalpur).

Following is the text of the speech of the railway Minister:- 

“I wish this function gives all our railwaymen an encouragement to work hard, work efficiently and work innovatively to bring smiles on the faces of our travelling passengers and our freight customers. In our rich and eventful journey of 161 long years, we have covered many significant milestones. The old has given way to the new and we have embarked on the path of modernizing every aspect of Railway operations. We are working on high speed rail corridors, on new designs of more efficient wagons, on the most efficient anti- collision devices like TCAS and TPWS, on new methods for ultrasonic detection of rail fracture to avoid derailments. We are progressing on dedicated freight corridor aimed at transforming goods movement in the country. We run superfast trains like Shatabdi and Rajdhani and are taking determined stride towards running High Speed bullet trains. We can boast of Engineering marvels like Jammu & Kashmir rail link and railway projects in North Eastern region; Computerized passenger reservation system and ticket booking through internet is getting a boost. In fact all aspects of Railway working,  be it improvement in productivity, economy in expenditure, increasing railway earnings, curbing ticketless travel, improving operations, maintaining and improving the life of assets and aspects of security/safety, developing world class stations, completion of crucial projects – right from policies to processes and procedures have seen major initiatives and innovations these days.

Our new government at the centre got a thundering mandate from the people of India and under the leadership of our Prime Minister, Sri Narendra Modi ji, we have vowed to live up to their expectations. Indian Railways run more than 12000 passenger carrying trains and more than more than 7000 freight trains every day. What are required are not a few changes here and there but holistic planning and comprehensive measures that shall enable the Indian Railways to match the best in the world. We have to work in this direction on a day to day basis.

I am happy to share with you that many of the budget announcements are in various stages of implementation and remaining will have to be taken up within a month. Implementation of the budget announcements is strictly monitored. The performance of the Railways on almost all the parameters has been steadily improving as you can gauge from the improvements in efficiency parameters in the last 4 months. Indian Railways is making efforts to evolve new methods of resource mobilization. Recently during the talks of Hon’ble Prime Minister with Japan and China we have identified some mutual areas of cooperation with these two countries.

One of the major initiatives of our government is to permit foreign direct investment (FDI) in our railway sector to bring much needed investment in the railway infrastructure especially the big ticket projects like High speed rail corridor among others. Permitting FDI will facilitate foreign investors to compete for such mega projects, either on their own or by joining hands with domestic investors. This in no way leads to privatization of existing Indian Railways Network or its core activities.  At the cost of repetition, it is made clear that the existing Indian Railways Network, its operations and its core activities will remain with the Indian Railways only and not open for privatization. This will also not affect the strategic role played by Railways in the national interest as well as its social obligations in any way.

In order to provide more hassle-free services to railway users, Indian Railways have launched new IT initiatives/applications developed by CRIS. It also meets Hon’ble Prime Minister’s dream project of Digital India.  Next Generation e-ticketing (NGeT),   Freight E-Demand system,  Freight E-Diversion system, Go India Smart card,  Train Enquiry Mobile App are few of the initiatives taken up by Indian Railways  in the past 4 months.

We have taken a number of initiatives in the field of catering which is one of the major areas of complaints by the passengers. We have so far imposed exemplary penalties on 12 contractors for their lapses in providing quality food. We have strengthened our catering complaint no. 1800-111- 321. We have introduced on pilot basis precooked foods and e catering systems. We are planning a third party audit of the catering services so as to ensure improvement. I am sure all my railwaymen will bring in a remarkable change in the Q & Q of the food we serve for our customers.

My dear friends we must realize that it is not just private sector which treats customer as king but Indian Railways must resolve today that we are no less to private sector in keeping the customers’ interest first. In the fast transforming world of web based communication through social media, Railways has ensured its presence on social media platforms by launching You tube, Facebook and Twitter. This would help us to  directly connect with the public.

On October 2nd, Indian Railways launched the biggest ever cleanliness campaign all over the country in line with the Union government’s Swachh Bharat campaign. The entire railway family rose to the occasion and performed ShramDan for ensuring cleanliness. Cleanliness should become part of our ethos and values and should be a continuous feature of our functioning.  The railway staff and the railway users together can make a big difference in the field of cleanliness and can change the face of the nation. We have allocated 40 per cent more budget for cleanliness this and if need be we would also increase it. We would also set up one dedicated dept for House Keeping with the presence from the level of stations to Board so that this business is taken seriously and those manning the dept become accountable.”

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