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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.
September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.

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News and Press Release

Make in India Week to showcase innovation, design and sustainability driving India’s new manufacturing revolution

February 8, 2016

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India’s commercial capital is geared up for Make in India Week, a flagship event to provide greater momentum to the Make in India initiative, to showcase to the world the achievements of the nation in its manufacturing sector and to promote India as preferred manufacturing destination globally. Set against the vibrant backdrop of Mumbai, this week long calendar would offer unprecedented access, insights and opportunities to connect and collaborate with India and global industry leaders, visionaries, academicians, central and state administrations.

Creating a confluence of policymakers, industry, entrepreneurs and academia to showcase, connect and collaborate, as well as highlight the people, policies and partnerships driving India’s new manufacturing revolution, the Week would spark a renewed sense of pride in India's manufacturing and take corporate and public participation to the next level. The Prime Minister has pitched the Make in India story to investors across the globe, and will inaugurate the marquee event which will host government delegation from 49 nations and business delegations from 68 countries during the Week. Speaking at the Curtain Raiser press conference in Mumbai the week-long event organized to showcase India's manufacturing prowess, Minister of State (Independent Charge) for Commerce & Industry, Smt. Nirmala Sitharaman said that "The government has incessantly pushed policy measures to boost manufacturing and today FDI in India is growing at 48 per cent while globally there is a sharp fall. The global business community has responded enthusiastically to Indian economy's revivalist fervour and Make in India Week will further showcase the nation's accomplishments in manufacturing and position India as investment, innovation and manufacturing hub."

Drawing the attention towards the Centre's view on States being partners to realize the nation's potential for achieving higher rates of growth and creating employment for masses, the Minister added that "States have a significant role in building and sustaining a manufacturing revolution and in the spirit of co-operative as well as competitive federalism they will be the drivers of development and centre will play a catalytic role."

The capital city of host State of Maharashtra will witness a blitzkrieg of business events and investor summits. Emphasizing that the world has now started to recognise India as a trusted investment destination, Chief Minister of Maharashtra, Devendra Fadnavis said that "India is poised to be the next big manufacturing destination." Some of the key government delegations would include Prime Minister led delegations from Finland, Sweden and Lithuania and Deputy Prime Minister led delegation from Poland. High level Government representatives are accompanied by large business delegations.

Speaking on the occasion, Secretary, Department of Industrial Policy and Promotion, Government of India, Amitabh Kant highlighted that "In order to give further momentum to the initiative begun by the Prime Minister aimed at promoting India as a big investment destination and increasing its share in global foreign investment, Make in India Week will be the biggest such effort".

Make in India Centre setup at MMRDA grounds in Mumbai to host the event would showcase exhibitions of the most innovative products and manufacturing processes across 11 sectors. The space in itself would be an avant-garde statement in design, merging the aesthetics of traditional craft with a futuristic vision. Make in India Centre would include sector specific pavilions showcasing 11 focus sectors of Make in India Week, 17 state exhibitions and several country pavilions. The Centre area would cover 2,20,000 sq. m and accommodates 27 halls. Country pavilion would include exhibitions from Sweden, Germany and South Korea. Over 190 exhibitors would showcase manufacturing prowess of the country across focus sectors.

The Week would also serve as a crucible of ideas and innovation with industry-academia interaction featuring manufacturing success stories. An exhibition on innovation, by the best of IIT, would be inaugurated by the Prime Minister at the Make in India Centre. Leading Institutions from the world over would come together and develop solutions to address problems in three important areas - Water, Transportation and Energy. As a celebration of the entrepreneurship spirit of India's youth and to catalyse start up community to drive the entire value chain from innovation to manufacturing in India, Department of Industrial Policy & Promotion and Qualcomm India would organize India’s largest start-up contest “QPrize™ Make in India” awarding ₹ 2 Crore in equity investment as prize money for the winning company. As a forum on rethinking contemporary design practices against the backdrop of manufacturing and promoting India as a global centre of design, a conference on Empowering through design would be organised to bring together global design thought leaders

Key opportunities in sectors like auto, defence and aerospace, food processing, chemicals and petrochemicals, electronics and information technology, pharmaceuticals, textiles, industrial equipment manufacturing, construction equipment, and infrastructure will be showcased through 21 seminars conceptualized and led by the key Union Ministries. They will be addressed by Union Ministers, Think Tanks, Industry Leaders, Academic Institutions, and Industry Associations. Seminars will showcase investment opportunities in each sector, recent policy initiatives for attracting investments and ease of doing business. 12 State Investor Summits (Gujarat, Andhra Pradesh, Maharashtra, Odisha, Chhattisgarh, Haryana, Madhya Pradesh, Jharkhand, Punjab, Telangana, Karnataka and Tamilnadu) will be held showcasing key sectoral strengths with reference to investment opportunities, steps undertaken by the State government to improve business environment, locational advantages, and industrial infrastructure availability.

In addition to the seminars, the highlights of Week include events such as CNN Asia Business Forum, Time India Awards, Driving Innovation: Hackathon, Make in India: The way forward, Conference on Empowering through Design, The Global Design and Innovation session and Champions for Societal Manufacturing.

The Make in India Week will help forging enormous global engagement with Indian industry in the form of partnerships and investments paving the path for a transformation of the world’s largest democracy into the world’s most powerful economy.

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