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    Trump used to slam China. Here's why he's now rolling out the red carpet for Xi
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September 20, 2026
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September 20, 2026
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Ten-year director tenure cap governs removal of ineligible cooperative bank board members after regulatory review.
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September 19, 2026
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Biometric Aadhaar authentication becomes essential for domestic LPG consumers seeking regulated subsidised refill bookings, while market-price supply remains available.
Biometric Aadhaar authentication is required from October 1 for domestic LPG consumers to book subsidised refills at the regulated retail selling price. Authentication can be completed through delivery personnel, distributor showrooms or designated mobile applications. Consumers unwilling or unable to authenticate may obtain LPG at the applicable market price without subsidy after registering their choice through specified digital channels. The framework distinguishes subsidised LPG linked to Aadhaar-authenticated consumers from market-priced LPG and seeks targeted subsidy delivery, reduced leakage, and prevention of diversion, duplicate connections and ineligible access.
September 19, 2026
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Cooperative bank director tenure limits require disqualification and removal when service exceeds the statutory maximum period.
Directors of District Central Cooperative Banks and Central Cooperative Banks are subject to a maximum 10-year tenure under the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025. RBI directed removal of a director ineligible to continue under section 10A(2A)(i), read with section 56, following concerns that directors of Latur District Central Cooperative Bank had exceeded the permitted tenure.
September 19, 2026
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Tariff treatment of Indian exports shifted from reciprocal duties to targeted trade measures, sectoral duties, and specified exemptions.
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September 19, 2026
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September 19, 2026
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September 19, 2026
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AI governance for regulated financial services enables natural-language automation while preserving enterprise security, auditability, control, and scalable deployment.
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September 19, 2026
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September 19, 2026
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Zero forex markup on credit cards applies automatically to international transactions without conditions while preserving applicable rewards.
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September 18, 2026
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Foreign exchange reserve valuation reflects currency movements as foreign currency assets and gold holdings decline.
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September 18, 2026
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Bulk sugar stockholding limits now allow expanded inventories only where additional supplies derive from designated import channels.
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September 18, 2026
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Trade facilitation and digitalisation support regional economic cooperation through simpler customs procedures, paperless exchange, resilient supply chains, and MSME access.
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September 18, 2026
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Customs cooperation and trade facilitation advance electronic origin verification, pre-arrival information exchange, and safeguards against preferential trade misuse.
Customs cooperation and trade facilitation measures included pre-arrival information exchange, electronic verification of Certificates of Origin, and Customs automation and digitalisation. These measures are directed at facilitating legitimate trade while ensuring compliance with applicable rules and preventing misuse of preferential trade arrangements. Rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure were reviewed to improve infrastructure utilisation and address operational bottlenecks affecting bilateral and transit trade.
September 18, 2026
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Preferential equity issuance approved to strengthen capital, support digital lending expansion, and fund subsidiary operations subject to required approvals.
OnEMI Technology Solutions Limited has approved a preferential issue of equity shares to identified investors, subject to shareholder and requisite regulatory and statutory approvals. The issuance is proposed under the Companies Act, 2013, the SEBI capital-issue and disclosure framework, other applicable SEBI regulations, and applicable law. Seventy-five per cent of the additional capital raised is proposed for infusion into its wholly owned subsidiary to support lending, technology, digital capabilities and product expansion, while the remaining twenty-five per cent is proposed for general corporate purposes.
September 18, 2026
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Fraudulent input tax credit claims through bogus invoices prompted arrest over alleged invoicing without actual supply of goods.
Alleged fraudulent availment, utilisation and passing on of inadmissible input tax credit involved invoices from purported suppliers found to be non-existent, non-functional, suspended or cancelled. Input tax credit was allegedly claimed without actual receipt of goods and passed on through invoices unsupported by corresponding supplies. Following investigation and recorded statements, the proprietor of an iron and steel trading firm was arrested under statutory arrest powers, while further investigation remains in progress.
September 18, 2026
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Direct tax collections: stronger advance tax payments support growth in corporate, non-corporate, and securities transaction tax receipts.
Direct tax collections grew through September 17, supported principally by increased advance tax payments from corporate and non-corporate taxpayers. Gross collections exceeded Rs 14.32 lakh crore, while net collections, after refunds, exceeded Rs 12.12 lakh crore. Corporate tax collections grew more strongly than non-corporate tax collections, and Securities Transactions Tax receipts recorded significant growth. The trend indicated broad-based tax buoyancy, supported by underlying economic activity, taxpayer confidence and business performance.
September 18, 2026
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Reusable consent-based KYC enables integrated onboarding, reporting, record updates and periodic re-verification for regulated financial institutions.
Central KYC-based onboarding enables regulated financial institutions to reuse a customer's existing verified identity record through the Central KYC Registry with customer consent. The integrated solution supports onboarding, KYC reporting, unsolicited notifications and re-KYC. It retrieves consented KYC records through CKYC APIs, uses facial matching or video-based customer identification for authentication, and applies AI-based duplicate detection. Reporting automates validation, image correction and real-time registry submission, while record updates and simplified periodic re-verification support the currency of institutional KYC information.
September 18, 2026
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Benchmark interest rate normalisation raises borrowing costs while monetary policy monitors inflation, wage growth, currency risks, and economic recovery.
The Bank of Japan increased the uncollateralised overnight call rate from 1.0 per cent to 1.25 per cent, advancing monetary-policy normalisation after a prolonged period of near-zero or negative rates. The increase was assessed against gradual economic recovery, inflation near its target, wage growth, currency fluctuations, elevated crude oil prices, and external risks. Further tightening remains contingent on stable price increases, wage developments, and monitoring of other risks.

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REVENUE RECEIPTS

February 28, 2015

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RECEIPTS

 

2013-2014

2014-2015

2014-2015

2015-2016

Actuals @

Budget Estimates

Revised Estimates

Budget Estimates

REVENUE RECEIPTS

 

 

 

 

1. Tax Revenue

 

 

 

 

Gross Tax Revenue

1138734

1364524

1251391

1449490

Corporation Tax

394678

451005

426079

470628

Taxes on Income

242857

284266

278599

327367

Wealth Tax

1008

950

950

...

Customs

172085

201819

188713

208336

Union Excise Duties

170198

207110

185480

229808

Service Tax

154778

215973

168132

209774

Taxes on Union Territories

3130

3401

3438

3577

Less - NCCD transferred to the National Calamity Contigency Fund/National Disaster Response Fund

4650

5050

5120

5690

Less - State's share

318230

382216

337808

523958

Centre's Net Tax Revenue

815854

977258

908463

919842

2. Non-Tax Revenue

 

 

 

 

Interest receipts

21868

19751

22166

23600

Dividend and Profits

90435

90229

88781

100651

External Grants

3618

2405

2811

1774

Other Non Tax Revenue

81475

99009

102830

94413

Receipts of Union Territories

1474

1111

1243

1296

Total Non Tax Revenue

198870

212505

217831

221733

Total Revenue Receipts

1014724

1189763

1126294

1141575

3. Capital Receipts

 

 

 

 

A. Non-debt Receipts

 

 

 

 

1. Recoveries of loans and advances@

12497

10527

10886

10753

2. Miscellaneous Capital Receipts

29368

63425

31350

69500

Total

41865

73952

42236

80253

B. Debt Receipts*

 

 

 

 

3. Market Loans

453551

461205

446922

456405

4. Short term borrowings

7729

34553

51169

30063

5. External Assistance (Net)

7292

5734

9705

11173

6. Securities issued against Small Savings

12357

8229

33276

22408

7. State Provident Fund (Net)

9753

12000

10000

10000

8. Other Receipts (Net)

31348

-7704

-22773

13559

Total

522029

514017

528299

543608

Total Capital Receipts (A+B)

563894

587969

570535

623861

4. DRAW-DOWN OF CASH BALANCE

-19171

17160

-15671

12041

Total Receipts (1+2+3+4)

1559447

1794892

1681158

1777477

Financing of Fiscal Deficit (3B+4)

502858

531177

512628

555649

Receipts under MSS (Net)

...

20000

...

20000

@ excludes recoveries of short-term loans and advances from States, loans to Government servants, etc.

12052

12290

13697

11961

* The receipts are net of repayments.

Topics

Acts Income Tax