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August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
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August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
August 14, 2026
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Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
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August 14, 2026
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International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
August 14, 2026
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Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
August 14, 2026
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International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
August 14, 2026
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Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
August 13, 2026
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International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
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August 13, 2026
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Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
August 13, 2026
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Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
August 13, 2026
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GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
August 13, 2026
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Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
August 13, 2026
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Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
August 13, 2026
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Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
August 13, 2026
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Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.

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No Hike in Passenger Fare

February 25, 2016

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65,000 Additional Berths and 17,000 Bio Toilets to be Installed

Operations Audit to Improve Punctuality of trains Proposed

Wi Fi Facilities in 400 more Stations

Stations to be Developed Under PPP Mode

Award of Civil Contracts for Dedicated Freight Corridor to be  Over by the end of this Financial Year

Capacity of E-Ticketing System to be Enhanced

Increased Quota of Lower Berth for Senior Citizens and Women

820 Robs / Rubs constructed

 Operating  Ratio to Increase from 90% to 92% Proposed

Nargol- Hazira Port Connectivity to be taken up under PPP Mode

There is no hike in passenger fare in this year’s Railway Budget.  Presenting the Railway Budget 2016-17  in the Parliament today Railway Minister Shri Suresh  Prabhakar Prabhu said   the budget seeks to fulfil the  long-felt desires of the common man such as   reserved accommodation on trains available on demand, time tabled freight trains, high end technology to improve safety record, elimination of all unmanned level crossings, improved punctuality, higher average speed of freight trains, semi high speed trains running along the golden quadrilateral, zero direct discharge of human waste by the year 2020. He said  Cabinet approval has been received for re-development of stations under PPP mode.

Shri Suresh Prabhu said the Indian Railways budget  proposes to   overcome challenges by Reorganizing Restructuring and  Rejuvenating Indian Railways  with the Slogan “Chalo, Milkar Kuch Naya Karen”.  The strategy  for this will have  three pillars  i.e. Nav Arjan – New revenues, Nav Manak – New norms, and Nav Sanrachna – New Structures.

In order to make travel on Indian Railways more comfortable, the Indian Railways proposes to give more facilities to the passengers . 65,000 additional berths will be provided in the trains and 2500 water vending machines  will be installed .  The railways have developed world’s first Bio-Vaccum toilet and 17,000 Bio-toilets will be provided in the trains.  With the purpose of improving  punctuality of trains  operations audit  from Ghaziabad to Mughalsarai section will be introduced.   The Indian Railways  proposes  to introduce  1,780 Automatic Ticket Vending Machines all over the country with  mobile apps and  GoIndia smartcard for cashless purchase of UTS and PRS tickets. The  capacity of  e-ticketing system will be enhanced  from 2,000 tickets per minute to 7,200 tickets per minute to support 1,20,000 concurrent users as against  40,000 earlier.  400 more stations will be provided  with Wi Fi facilities.

As a part of social initiatives, online booking of wheelchairs and Braille enabled new coaches will be introduced for the Divyang. Increased quota of lower berths for senior citizens and women and reserving  middle bays for women in reserved  coaches has been proposed.   Passengers security will be enhanced through more helplines and CCTVs.

To reduce accidents at level crossings, the budget proposes to eliminate 1000 unmanned level crossings and closures of 350 manned level crossings.  820 Rail Over Bridges (ROB)/ Rail Under Bridges (RUB) will be completed during the current financial year and work is going on in additional 1350 of them. 

Referring to the progress of  Dedicated Freight Corridor Project the Railway Minister said that almost all contracts for civil engineering works will be awarded by the end of this financial year.  He said ₹ 24,000 crore worth contracts  were awarded since November 2014 as against ₹ 13,000 crore contracts awarded during the last six years.   Shri Prabhu said Railways proposes to take up  North-South, East-West and East Coast freight corridors through innovative financing including PPP.

Underlining the importance of Jammu and Kashmir and North East the Minister said work on Katra-Banihal section of Udhampur-Srinagar-Baramulla Rail Link Project  is progressing satisfactorily and 35 kms of tunnelling out of total of 95  kms has been completed.  He said decongestion work on Jalandhar - Jammu section is in full swing and doubling of two bridges will be over  by next month, while the other two bridges will be completed by 2016-17.  In North East ,  Mizoram and Manipur will  shortly come on BG map of the country with commissioning of the Kathakal-Bhairabi and Arunachal-Jiribam Gauge conversion projects.

Giving the progress card of port connectivity projects the Minister informed that  Tuna Port  connectivity project has been commissioned and rail connectivity projects to ports of Jaigarh, Dighi, Rewas and Paradip are  under implementation.  He said implementation of rail connectivity for the ports of Nargol and Hazira  will be taken up under PPP in 2016-17.

Referring to the financial performance the Minister said during  2015-16  a saving of ₹ 8720 crore could be achieved  neutralizing the most of the revenue  shortfall with operating ratio of 90%.  He said the budget proposes operating ratio of 92%,  restricting  growth of ordinary working expenses by 11.6% after building in immediate impact of 7th PC, reduction in  diesel and electricity consumption and Revenue generation  of ₹ 1,84,820 crore for 2016-17.  He said during 2015-16 investment would be close to double of average of  previous five years.

Shri Suresh  Prabhu said  Railways would be able to achieve annualized  savings of  ₹ 3000 crore in the energy sector during the next financial year itself, a year earlier than announced.  He said this could be achieved by procuring  power directly at competitive rates.

The Railway Minister said social media will be used  as a tool to bring in transparency. All procurement including procurement of works  will be moved  to e-platform.  He said  the trial of awarding tender electronically  was successful and it will be rolled out  on Pan India basis  in 2016-17.

Giving an outline of the way ahead, the Minister informed Parliament that his  Ministry proposes to take various measures to improve quality of travel which will include introduction of unreserved superfast Antyodaya Express Trains, introduction of Tezas train with the speed of 130 Km. and above  with onboard entertainment and Wi Fi  etc., unreserved Deen Dayalu coaches  with portable water and higher number of mobile charging points and introduction of AC and non AC double decker trains on busy routes with the potential to  increase carrying capacity by almost 40%.  Sale of tickets through hand held terminals; e- ticketing facility to foreign debit/credit cards; bar coded tickets,   expansion of Vikalp – train on demand to provide choice of accommodation in specific trains to wait-listed passengers. E-booking of tickets facility on the concessional passes available to journalists;      facility of cancellation through the 139 helpline post verification using ‘One Time Password’ sent on registered phone number,  CCTV cameras on tatkal windows  and periodic audit of PRS website will also be introduced.

Shri Suresh Prabhu said it is proposed to convert all operational halts into commercial halts for the benefit of common man.  The Minister said  Sarathi Seva in Konkan Railway will be expanding  to help the old and disabled passenger. The existing services for enabling passengers to book battery operated cars, porter services, etc. on a paid basis in addition to the existing pick up and drop, and wheel chair services will be strengthened. All stations under redevelopment  will be accessible for Divyang. There will be at least one Divyang friendly toilet at each platform in A1 class stations during the next financial year and  availability of wheelchairs in sufficient numbers at these stations will be ensured.  Children’s menu items, baby foods, hot milk and hot water would be made available under Janani Sewa.

SMART (Specially Modified Aesthetic Refreshing Travel) Coaches  will be introduced to ensure higher carrying capacity and provision of new amenities including automatic doors, bar-code readers, bio-vacuum toilets, water-level indicators, accessible dustbins, ergonomic seating, improved aesthetics, vending machines, entertainment screens, LED lit boards for advertising, PA system.   It is also proposed to  integrate all facilities into two mobile apps dealing with ticketing issues and for receipt and redressal of complaints and suggestions.  With a view to improve customer interface   information boards in trains enumerating the on-board services and  GPS based digital displays will be installed  inside coaches to provide real time information regarding upcoming halts. Work  is underway  for the  installation of a high-tech centralized network of 20,000 screens across 2000 stations for enabling real time flow of information to passengers and also to unlock huge advertising potential. All A1 class stations will be manned with duly empowered Station Directors supported by cross functional teams, to make one person accountable for all facilities on trains.

Shri Suresh Prabhu said it is proposed  to take up on priority the provision of passenger amenities and beautification on stations at pilgrimage centres including Ajmer, Amritsar, Bihar Sharif, Chengannur, Dwarka, Gaya, Haridwar, Mathura, Nagapattinam, Nanded, Nasik, Pali, Parasnath, Puri, Tirupati, Vailankanni, Varanasi and Vasco. Aastha circuit trains will be introduced  to connect important pilgrim centres.

 He said  optional travel insurance for rail journeys at the time of booking  and clean my coach through sms will also be introduced in due course.  High speed passenger corridor from Ahmedabad to Mumbai  will be developed  with the financial assistance from Government of Japan.  FM Radio Stations will be invited to provide train borne entertainment,  Rail Bandhu Mazagine  will be provided in all reserved coaches in all regional languages.

Referring to the financial performance of 2015-16  the Railway Minister said Stringent economy and austerity measures adopted to contain the Ordinary Working Expenses (O.W.E.) due to which budgeted OWE  of ₹ 1,19,410 crore decreased in the Revised Estimates 2015-16 to ₹ 1,10,690 crore i.e. by ₹ 8,720 crore. BE provided for an appropriation of ₹ 34,900 crore to the Pension Fund. However, based on trend, the pension outgo moderately decreased to ₹ 34,500 crore in RE. Internal resource generation diminished and appropriation to DRF moderated to ₹ 5,500 crore in RE from the BE 2015-16 provisioning of ₹ 7,900 crore.  Excess of receipts over expenditure in RE 2015-16 stands at ₹ 11,402.40 crore. Plan size for 2015-16 is currently estimated at 1,00,000 crore i.e. the BE level.

Regarding Budget Estimates 2016-17 the Minister informed that the Gross Traffic Receipts are  kept at ₹ 1,84,820 crore . Passenger earnings growth has been pegged at 12.4 % and earnings target budgeted at ₹ 51,012 crore. The freight traffic is pegged at incremental traffic of 50 million tonnes, anticipating a healthier growth in the core sector of economy. Goods earnings is accordingly proposed at ₹ 1, 17,933 crore. Other coaching and sundries projected at ₹ 6,185 crore and ₹ 9,590.3 crore respectively. OWE provides for the implementation of the 7th CPC.Pension outgo budgeted at ₹ 45,500 crore in 2016-17.  Higher staff cost and pension liability impacts the internal resource position of the Railways. Accordingly, appropriation to DRF from revenue placed at ₹ 3,200 crore and that from Production Units at ₹ 200 crore. A withdrawal of ₹ 3,160 crore from DRF on net basis proposed though the gross expenditure to be met from DRF in the Annual Plan estimated at ₹ 7,160 crore. ₹ 5,750 crore proposed to be appropriated to the Capital fund. With a draw-down of ₹ 1,250 crore from previous balances in the fund, plan requirement of ₹ 7,000 crore for repayment of principal component of lease charges to IRFC have been met.  Railways are preparing a Plan size of ₹ 1,21,000 crore in 2016-17, the Minister added.

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