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    ED raids multiple locations in Kolkata in bank loan fraud case
    Commerce & Industry Minister Shri Piyush Goyal Calls Upon Auto Component Industry To Go Global
    18th Meeting of Heads of IP Offices of BRICS Countries Held in New Delhi
    India’s Sovereign Credit Rating upgraded to 'A-' with Stable Outlook by Japan Credit Rating Agency
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September 3, 2026
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
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Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
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Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
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Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
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Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
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Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
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Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.

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Delhi Budget 2015-16 – Highlights

July 1, 2015

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1.     Budget of Government of NCT of Delhi in 2015-16 is proposed at ₹ 41129 crore

  • Plan Budget   ₹ 19000 crore
  • Non-Plan Budget   ₹ 22129 crore

2.     The total estimated expenditure of  Rs. 41 129 crore in 2015-16 is 18 per cent higher than the Revised Estimates of ₹ 34790 crore in 2014-15.

3.1   This is the first ''Swaraj Budget'' of the Country based on valuable inputs, suggestions  of the citizens, academicians, subject matter experts, trade organizations. RWAs, civil society, Corporate sector etc. It is India's first Participatory Budget.

3.2    A new initiative "Swaraj Fund" with a budget provision of ₹ 253 crore is proposed to be created enabling the citizens to prioritize implementation of programmes selected  by them for the development of their area.

3.3   An allocation of ₹ 20 crore is proposed for each of the  11 Assembly Constituencies as a pilot under Swaraj Fund. For remaining  59 Assembly Constituencies an amount of ₹ 50 lakh each is proposed.

3.4   Delhi government accorded the right to the citizens to take the decisions in the process of governance.

4.     A new agency "Delhi Urban Development Agency (DUDA)" is proposed to he set up in each Revenue District to execute the works recommended by Citizens under Swaraj Fund and Hon'ble MLA under MLA Fund.

5.     Total financial support of Rs.  5908 crore is proposed to the local bodies in 2015-16 which is 14.4% of the total budget.

6.1   Government has initiated the process of city governance system and delivery of public services in a most transparent and efficient manner to weed out graft and to make Delhi the first corruption-free State.

6.2   To eliminate possible corruption in issuance of various certificates at the SDM's office Government has launched the e-district services.

7.     Government has taken significant measures like reducing electricity hills. Supplying free `lifeline' water upto 20,000 litre per month for betterment of the life of citizens. An amount of ₹ 1690 crore for subsidy is proposed.

8.     Government of Delhi has decided to create buffer stock of onion & potato and will release it in the market during scarcity of the commodity.

9.     Free Wi-Fi services shall be launched in all colleges and rural areas during 2015-16.

10.    A High power committee has been constituted to review the existing licensing System and to suggest measures to simplify the process. The recommendations of this committee shall be submitted by 31st  July, 2015.

11.   Delhi will soon become the most preferred location for doing business because of case and speed of decision making.

12.   To coordinate requests from International Organizations and other Governments of the World a cell in Finance & Planning Department will be set up.

13.1  Education is the first priority of the government. An amount of ₹ 4570 crore under plan is proposed in 2015-16.  It is more than 106% more than the last year's expenditure of Rs.  2219 crore. It is for the first time in the country, any government  doubled outlay on education.

13.2   Agenda of the government is to provide modern facilities and infrastructure in all 1011 government schools.

13.3   50 schools  will  be  developed  as  Model  Schools  with  modern  facilities and infrastructure. Subsequently all schools to become Model schools. 236 new schools planned.

13.4   CCTV cameras in all the classrooms of government schools will be installed.

13.5   It is expected to recruit 20,000 regular teachers by the end of year to improve student-teacher ratio.

13.6    A Higher Education & Skill Development Guarantee Scheme will be launched. wherein students can get education loan upto  Rs. 10 lakh without any collateral or margin money.

13.7   The interest rates shall be lower than the usual interest rates for educational loan to female students.

13.8   To encourage sports activities the Government has launched the `Pay and Play scheme,' under which common man can avail the facilities in government sports complexes and stadia on nominal user charges.

13.9   Delhi government is working to set up a Skill University for vocational and skill development diploma / degree courses. An amount of' ₹ 310 crore proposed for promotion of Vocational education.

13.10  It is planned to give two certificates to every student when he / she passes 10+2 – one for general education and the other for skill education.    

13.11  Increase in intake capacity of each Government polytechnic planned for 100 seats.

13.12  It is proposed to open three new ITIs in Ranhola. Chhatarpur  and  Bakkarwala. Five new Polytechnics are proposed to be set up; one each in North. North East, Central. New Delhi and West districts of Delhi.

13.13  Netaji Subhash Institute of Technology will he upgraded into a University. It will enhance the student strength from 3000 to 12000 over a period of five years.

13.14  Incubation centre will be setup in Universities & Colleges to promote Research & Development.

14.1    Three new hospitals with total bed capacity of 1800 are planned at Nangloi, Siraspur and Madipur.

14.2    It is planned to remodel and upgrade 11 existing hospitals which will add  4000 more beds in next two years.

14.3    Government is planning to set up 500 "Mohalla Clinic" in all parts of Delhi in the current financial year.

14.4    Five centralized labs with modern facility will be set up in North, South, East, West and Central Delhi to provide diagnostic services to the patients visiting Mohalla Clinic.

14.5    Government is planning to set up an Advance Trauma Care Centre in LN Hospital for sports injury rehabilitation with 100 trauma beds including ICU and OT facilities.

14.6    Online booking of free bed facility in 42 private hospitals for the economical weaker sections is to be made available.

14.7    To maintain health data, record of registration and treatment at different  Hospitals  of Delhi Govt., Health Card to be issued individually.

14.8    Free  medicine  will  be  provided  to  the  citizens  of Delhi  through  charitable clinics/dispensaries.

15.1    Government will procure about 1380 semi low floor buses. 500 midi buses for DTC. Around 1000 more buses under Cluster scheme will be deployed by the end of 2016.

15.2     It is  proposed  to  bring 10.000   buses  of different  specifications,  to  meet  the differentiated needs of commuters, from the private sector under the PPP Cluster scheme.

15.3     About 5500 new auto permits are being released for plying in the NCR.

15.4    It is proposed to construct about 1200 new Bus Queue Shelters.

15.5     About 304 new Mini buses on 64 Metro Feeder routes to be inducted in the current year.

15.6    In order to provide last mile connectivity. Govt. is promoting e-Rickshaw in Delhi. Subsidy of Rs.  15000 on purchase of e-Rickshaw will be provided.

15.7    Delhi Government has made it mandatory for all public transport vehicles including taxis and autos to install GPS for tracking of the vehicle.

15.8    It is proposed to install CCTV cameras in all DTC and Cluster buses.

15.9    Delhi Government has decided to depute marshals in all DTC and Cluster buses to allay the fear of crime and reassure the women commuters of safety and security.

15.10  Passenger Information System to provide real-time information will be introduced.

16.1    Delhi Government is planning to start six Working Women Hostels with active participation from the private sector.

16.2    Government is planning to provide 300 creche facilities in slums and  JJ clusters under Integrated Child Development Scheme.

16.3    Construction of new Old Age Homes is proposed to be started in the current year at Kanti Nagar, Chittranjan Park, Rohini, Paschim Vihar and Chattarpur in Phase I.

16.4    Delhi Government has decided to give compensation of  Rs. 1 crore to the family of Defence Personnel, Paramilitary Force Personnel who have sacrificed their lives while on duty and who are residents of Delhi. The same amount of compensation  will also be given for the sacrifice made by Delhi Police, Delhi Home Guards. Delhi Civil Defence Personnel while discharging their duties.

16.5    Government decided to give ex-gratia relief to the farmers at the rate of  Rs. 20000 per acre to compensate the crop damage caused due to unreasonable rain.

16.6    Shramik Vikas Mission has been launched to ensure payment of notified minimum wages, better welfare facilities to the construction workers and their families.

17.1     A new Water Treatment Plant will be set up in Iradatnagar and existing water treatment plants at Chandrawal and Wazirabad  will be rehabilitated to increase the water production to meet the rising demand of the city.

17.2     A new portal "Public Monitoring of Water Tankers" has been launched enabling people for effective, continuous and strict monitoring of water tankers. More than 400 tankers have been fitted with GPS and water sensors and their movement is being monitored continuously through a web based system.

17.3     A new scheme, "Jan Jal  Prabandhan Yojana" will be launched to involve the community in management of water and sewerage services in a decentralized manner.

17.4     A mobile app will be launched for "Self Meter Reading  and Bill Generation”  to provide water and sewer services to citizens in efficient and friendly manner.

18.      To check unauthorized construction in future, GSDL, will provide satellite image data on  a  regular  interval  to  Revenue  Department  with  clearly  marking  any  new encroachment   /  unauthorized construction  for appropriate action  by  authorities concerned.

19.      An Energy Conservation Fund will be created in the current financial year to finance Energy Efficient Projects and Street Lighting etc.

20.1    To improve air quality about 12  lakh saplings will be planted in the current financial year by all concerned Government Agencies.

20.2    To promote eco-friendly transport in NCT of Delhi  owners of newly purchased Battery operated 4 wheelers and 2 wheelers will be given subsidy by Government of Delhi, in addition to subsidy introduced by Govt. of India.

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