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September 1, 2026
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Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
September 1, 2026
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Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
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Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.
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.

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Several Initiatives Taken Would Help Transforming Infrastructure Sector ; Results Achieving & Sustaining Higher Economic Growth

February 26, 2016

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2015-16 tabled in the Parliament here today by the Union Finance Minister Shri Arun Jaitley states that riding high on the performance of manufacturing sector , industrial sector in India have registered higher growth during 2015-16. Many policy measures taken by the Government for creating enabling environment for industrial growth have started showing its impact on increased FDI inflows, better performance of infrastructure sector. The landmark initiatives like Make in India , Ease of doing Business, Start Up India, Digital India , and Smart Cities, etc. will provide further impetus to industries and the industrial sector is expected to be the key driver of economic growth in the country. These initiatives would also help in transforming infrastructure sector which is sine qua non for achieving and sustaining higher economic growth.

According to the Survey, the year 2015-16 is witnessing a tumultuous global economic environment with major economics showing signs of slowdown in growth. It further states that against this background, the fact that the Indian economy has emerged as the fastest growing economy with a high growth rate of over 7 per cent. The manufacturing sector has been a major contributor in sustaining this high growth rate. As per latest data released in January 2016 on revised estimates of national income the growth of Industrial sector broadly comprising mining, manufacturing, electricity and construction is 5.9 per cent during 2014-15, as against a growth of 5.0 per cent during 2013-14. The advance estimates of national income 2015-16 shows that the growth of industrial sector is estimated to be 7.3 per cent with manufacturing sector growing at 9.5 per cent.

Industrial Performance

As per IIP, the industrial sector broadly comprising mining, manufacturing and electricity attained 3.1 per cent growth during April- December 2015-16 as compared to 2.6 per cent during the same period of 2014-15 due to the higher growth in mining and manufacturing sector. The mining, manufacturing and electricity sectors grew by 2.3 per cent, 3.1 per cent, and 4.5 per cent respectively during April-December 2015-16, the Economic Survey observes.

MSME Sector

With 3.6 crore units spread across the country, that employ 8.05 crore people, Micro, Small and Medium Enterprises (MSME) have a contribution of 37.5 per cent to the country’s GDP. Realizing the important of the MSME sector, the Survey mention that the government has undertaken new initiatives like Udyog Aadhar Memorandum (UAM) scheme to promote ease of doing business for MSMEs, Employment Exchange for Industries for prospective job seekers and employers and Scheme for Promoting Innovation and Rural Entrepreneurs (ASPIRE) to promote start- ups for innovation and entrepreneurship in rural and agriculture- based industry.

Foreign Direct Investment (FDI)

Highlighting the role of Foreign direct investment (FDI) as an important driver of economic growth , the Survey states that the government has undertaken various reforms with a view to liberalizing and simplifying the FDI policy to provide ease of doing business climate in the country that will also lead to larger FDI inflows. More open FDI policy has been adopted with FDI allowed for Defence sector up to 49%; Railways 100%; Insurance and Pension 49% etc. Apart from this, a number of sectors like construction, broadcasting, civil aviation, plantation, trading, private sector banking, satellite establishment and operation and credit information companies etc. have been liberalized. After the launch of the Make In India initiative in September 2014, there is a nearly 40 % increase in FDI inflows during October 2014- June 2015 over the corresponding period of the previous year. The Survey further highlights that the various reforms in the FDI sector have led to a significant increase in FDI inflows into India. During April- November 2015, total FDI inflows were US$ 34.8 billion as compared to US$ 27.7 billion during April- November 2014, showing an increase of 26 per cent . FDI equity inflows also increased form US$ 18.9 billion during April- November 2014 to US$24.8 billion during April- November 2015, showing 31 per cent growth.

According the Economic Survey, the Government of India has taken a series of measures to improve Ease of doing Business in the country. Existing rules have been simplified and information technology introduced to make governance more efficient and effective. Reflecting the better economic performance and the commitment of the government to reforms, the global perception about India’s competitiveness has improved as per Global Competitiveness Index of the World Economic Forum. Significantly, at position 55, India went up 16 rungs in 2015-16, which is the largest gain among the major economies.

Performance of the Power Sector

In view of the growing need to the Indian economy, the Survey states that the government has embarked upon a massive programme to provide uninterrupted continuous access to power supply in the country. Several steps have been taken for increasing power generation, strengthening of transmission and distribution, separation of feeder and metering of power to consumers. In order to restructure the sector, various amendments are being brought in the Electricity Act, and tariff policy in collaboration with states. During 2014-15, the achievement in electricity generation exceeded the target. Against the target of 1023 BU, the achievement was 1048.4 BU, registering y-o-y growth of 8.4 per cent. Annual generation crossed 1 trillion units last year. In the current year (April- December 2015), generation registered a growth of 4.4 per cent. This is 97.6 per cent of the target of 849.9 BU during the year 2015-16 (April-December) .The survey further states that , as against the capacity addition target of 20037.1 MW set for 2015-16, 11,226 MW has been added till December 31, 2015. The cumulative capacity addition during the 12th Plan, as on December, 31, 2015, is 72,240 MW which constitutes 81.6 per cent of the plan target.

On distribution side, the Survey mentions several policy initiatives taken by the Government like Ujwal DISCOM Assurance Yojana (UDAY), Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated Power Development Scheme (IPDS), Domestic Efficient Lighting Program (DELP), National Tariff Policy, 2016 and National Smart Grid Mission.

Performance of Coal Sector

The Economy Survey states that production of raw coal in India registered a growth of 4.7 per cent by producing 477.48 Mt during April – December 2015 as compared to the corresponding year to the previous year. The Annual target for coal production for 2015-16 have been fixed 700 Mt. The Survey further mentioned that due to higher domestic production, imports have been coming down since last year. The Government has taken initiatives by enacting the Coal Mines (Special Provisions) Act 2015 to enable the government to reallocate 204 coal blocks whose allocations were cancelled by the Supreme Court. Under the Act, the Centre government has successfully auctioned 31 coal mines and allotted 42 coal mines/blocks to the central/state governments companies.

Since the government has taken a number of policy initiatives, the Survey says that there have been notable turn around in the mining and quarrying sector. The Government recently amended Mines and Minerals (Development and Regulation) Act 1957 for promoting the mining sector. A total of 35 mineral block have been offered by the seven states as on 31 December, 2015.

In the Petroleum sector, the Economy Survey 2015-16 mentioned improvements in Policy for production sharing contracts under NELP and testing requirements along with a Uniform Licensing and Open Acreage Policy etc. has been taken up.

Regarding New & Renewable Energy Sector, the Survey observed that India is graduating from Magawatts to Gigawatts in generation of clean renewable energy. The target from various renewable energy sources have been increased to 1.75 GW by the year 2022. The government has taken several initiatives like solar rooftop, solar parks, solar projects under the National Solar Mission (NSM), solar pumps, solar cities and Surya Mitra schemes have been launched.

Concerning Road sector, the Survey mentioned that the government approved the scheme for the development of about 1177 kilometers of national highways and 4276 kilometers of state road in Left Wing Extremism affected areas as a special project with an estimated cost of about of ₹ 7300 crore. Apart from this, Bharatmala Programme, an umbrella scheme is proposed at an estimated cost of 2,67, 200 crore. The programme is targeted for completion by 2022.

Recognizing the growth of telecommunications as one of the key drivers of socio-economic development, the Survey says the performance of the telecommunications sector during 2015-16 has been encouraging with approximately 33.4 million new telephone connection during April – October 2015. Overall Tele density in the country has been increased from 79.4 per cent as the beginning of the financial year to 81.5 per cent at the end of the October 2015. Under the Bharat Net Project 1,03, 643 Km of pipes and 79, 994 km of optical fibre cables (OFC) have been laid up to 30th November, 2015.

To improve urban infrastructure, the Government has taken various steps the government has launched a Mission of Smart Cities with the collaboration of states with UTs. The purpose of Smart Cities Mission is to drive the economic growth and improve the quality of life of people by enabling local area development and harassing technology. The Mission will cover 100 cities which have been distributed among the state and UTs on the basis of equitable criteria. In addition to above, new initiatives like Swachh Bharat Mission, National Heritage City Development and Augmentation Yojana (HRIDAY), Atal Mission for Rejuvenation and Urban Transformation (AMRUT)

The Survey observes that Startup India is a flagship initiative of the Government of India to build a strong ecosystem for nurturing innovation, driving sustainable economic growth and generating large-scale employment opportunities. Apart from the technology sector the start-up movement will extend to a wide array of other sectors including agriculture, manufacturing, healthcare and education, and from existing tier 1 cities will extend to tier 2 and tier 3 cities including semi-urban and rural areas.

The Survey says that supply side bottlenecks, infrastructural and structural constraints hindering the achievement of medium-term growth and job creation, are being addressed on priority basis. Programmes like Make in India, Ease of Doing Business, Skill India, Startup India and reforms in various industrial and infrastructure sectors are some of the major initiatives in the direction of attracting more investment to ensure high industrial growth. Make in India and Ease of doing business in India are focusing on more and faster industrial growth while Startup India aims at nurturing an entrepreneurial mind set among youth in an in inclusive manner.

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