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    India–Afghanistan Joint Working Group on Trade Holds Virtual Meeting; Reviews Measures to Strengthen Bilateral Trade and Economic Cooperation
    PM Surya Ghar Yojana 2026: How to Get Rs 78,000 Solar Subsidy & Cut Your Electricity Bill
    Japan's JCR upgrades India's sovereign rating to 'A-', cites solid growth, improved financial system
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    Andhra commercial tax collections rise by 11 per cent in August to Rs 4,983 cr
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    DGFT Enables Automated Issuance of Free Sale and Commerce Certificates to Promote Ease of Doing Business
    Bank unions to go on nationwide strike on Sep 11 over 5-day banking, other issues
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September 2, 2026
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Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
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Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
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Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
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Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
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Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
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Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
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E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
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Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
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Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
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Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.
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.

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"Rajswa Gyansangam- Annual Conference of Tax Administrators-2016”concludes; Major Take Aways from two day “Annual Conference of Tax Administrators-2016” include further improvement in Tax Payers Services by use of technology and increased human touch; widening of tax base and faster dispute resolution among others

June 18, 2016

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The two day "Rajswa Gyansangam- Annual Conference of Tax Administrators-2016” concluded here yesterday. "Rajswa Gyansangam” was held in national capital on 16th & 17th June, 2016.It was inaugurated by the Prime Minister Shri Narendra Modi in the morning on 16th June,2016 and marked a new height in the generation of innovative ideas and opened new frontiers for the tax administrators. The Prime Minister Shri Modi stressed that facilitation should be the core of the tax ecosystem and the fear of the law rather than the law enforcer should be the maxim on which tax administrators should work. While acknowledging the significant role of revenue collection in the growth and development of the country, he exalted the revenue officers to achieve high standards in taxpayer friendly services towards compliant tax payers. At the same time, Prime Minister asked them to knock on the doors of the non-tax payers so as to increase the number of taxpayers. He asked the Income Tax Department to widen the tax base and take suitable action against the non-filers and tax evaders.

The Prime Minister Shri Narendra Modi emphasised that “RAPID” (Revenue, Accountability, Probity, Information, Digitisation) should become the cornerstone of tax architecture.

Later, the Union Finance Minister, Shri Arun Jaitley also interacted extensively with the officers of the two Boards during two separate Sessions on 16th June, 2016. He highlighted the fact that the Indian economy is in a transformational phase and emphasised the need to take advantage of the global changes that are reshaping the world economy. He further stressed that India is bound to become a major manufacturing hub of the world ; in this regard, reforms such as “GST” and a modern non adversarial tax regimen are crucial to catapult the share of manufacturing sector to 25% of GDP. The Minister of State for Finance, Shri Jayant Sinha delivered the valedictory address on the evening of 17th June, 2016.

A joint session of CBDT and CBEC was addressed by renowned novelist Chetan Bhagat on “Taxing with Love”. He suggested that the tax departments should treat the tax payers as its “customers” and a tax paying culture should be inculcated in the country by honouring the top taxpayers. He also gave certain practical solutions for simplification of forms and user friendly website.

Separate Technical sessions were held by the Central Board of Direct Taxes (CBDT) & Central Board of Excise & Customs (CBEC). The Technical Sessions of CBDT over the two day period covered wide ranging subjects like Tax Payer Services, New Initiatives in E- Governance, Exchange of Information with foreign jurisdictions, Investigation into Undisclosed Foreign Assets, Income Declaration Scheme 2016, Litigation Management & Dispute Resolution, Scheme for Paperless Assessments, Promoting Accountability & Service Orientation etc.

On the CBEC side, the deliberations covered subjects like analysis of revenue trends, update on GST, strategy to mitigate litigation, expansion of digital footprint, facilitation of trade, impact of WTO TFA and standardization of processes and dissemination of knowledge to officers at the cutting edge.

The CBEC also conducted a taxpayer survey in association with FICCI/KPMG which was released. The survey brought-out several specific suggestions; significantly it also revealed that 72% of the respondents felt a perceptible change in the policies of CBEC.

A Panel discussion was conducted where Chairman, Quality Council of India Sh. Adil Zainulbhai, Ms. Rama Bijapurkar, Market Analyst and Ms.Shalini Narayan, Social media expert discussed the ways and means to improve the brand image of Customs and Excise Department, wherein the need for the department to “walk the talk” and engage with the stakeholders through use of social media was stressed.

The Conference was extremely productive. The take-aways from the Conference on the CBEC side are:-

  • Need for preparation for roll-out of GST with focus on IT and increased capacity building through training of officers.
  • Need to focus on Dispute Resolution: Identify 20 topmost litigated issues and examine from policy perspective whether any intervention is required.
  • Review powers of adjudication & enhance them for speedier disposal of adjudication
  • Issuance of a master circular – review allexisting circulars in the Central Excise , rescindredundant ones and finalise one comprehensive circular.
  • The Customs Single Window to develop Integrated Risk management System combining the risk parameters of participating Government agencies to aid in faster Custom clearances.
  • Strengthen Authorised Economic Operator (AEO) scheme and target to bring 1000 AEO from current 31. This should significantly improve ease of doing business
  • Simplification of procedures for write off of tax arrears
  • Publication of details of cases which have been withdrawn.( This is in terms of FICCI/KPMG survey. )
  • Replication of Good practices of the various field formations throughout the country.
  • Dedicated attention on augmentation of infrastructure for the tax payer and tax administrators.
  • Examine the findings of FICCI-KPMG survey for suitable policy changes.
  • Focus on at least two infrastructural residential projects to meet the needs of young officers -Dwarka in New Delhi and CIDCO flats in Mumbai

On the CBDT side, the following action points were identified:

  • Organizing the jurisdictions in the Department on functional lines along with periodic performance review by supervisory officers.
  • Further consultations with field officers to prescribe roles and responsibilities at all levels.
  • Reduce litigation and provide alternative dispute resolution mechanisms.
  • Examine the language of the communications from CPC on processing to make them enhance easy comprehension and avoid unnecessary appeals.
  • Creating a “Litigation Management Corner” on website of all Pr. CCsIT to provide information on High Court orders to avoid filing of appeal on settled issues in High Court.
  • Increase voluntary acceptance of paperless assessment, by pro-active engagement with all stakeholders through advertising and awareness campaigns including through the departmental website.
  • Upgradation of infrastructure like computers, scanners, Wifi, etc for assessing officers.
  • The Pr.CCsIT to ensure that all their assessing officers are allotted dedicated and secure official email account by 30.06.2016 for communication with the taxpayers for e-assessment.
  • E-assessments will be fast-tracked as an incentive to the taxpayers to opt for e-assessment.
  • The Pr. CCsIT to send construction proposals for 57 vacant lands in their jurisdictions within three months to address the shortage of space. Proposals for purchase of ready-build office/ residential space may also be expedited.
  • Donating surplus old steel almirahs to schools/ colleges will be examined by the Board on reference made by Pr. CCsIT.

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