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    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
    Union Minister of Finance and Corporate Affairs interacts with interns from PM Internship Scheme in New Delhi
    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
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    Colombian president asks Trump to suspend tariffs to help earthquake recovery
    Mission Samudra to be launched alongside Vizhinjam’s EXIM operations
    Europe emerges top destination for India's electric car shipments in Q1
    Govt sets LPG production targets for refiners; Reliance gets largest quota
    PM urges MSMEs to tap opportunities from FTAs
    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
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    August 17, 2026
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    RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
    RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
    August 17, 2026
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    Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
    PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
    August 17, 2026
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    Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
    Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
    August 17, 2026
    Show AI Summary
    FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
    Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
    August 17, 2026
    Show AI Summary
    Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
    High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
    August 17, 2026
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    Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
    The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
    August 17, 2026
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    SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
    SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
    August 17, 2026
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    FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
    The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
    August 16, 2026
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    Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
    Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
    August 16, 2026
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    Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
    Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
    August 16, 2026
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    Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
    India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
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    LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
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    August 16, 2026
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    Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
    Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
    August 15, 2026
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    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
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    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
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    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
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    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
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    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    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.

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      REVISED GST RATE FOR CERTAIN GOODS [As per discussions in the 16th GST Council Meeting held on 11th June, 2017]

      June 12, 2017

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      REVISED GST RATE FOR CERTAIN GOODS

      [As per discussions in the 16th GST Council Meeting held on 11th June, 2017]

      S. No.

      Chapter / Heading / Subheading / Tariff item

      Description of goods

      Earlier GST rate approved by the GST Council

      Revised  GST Rate approved by the GST Council

      1.  

      0506, 0507 90

      Bones and horn cores, bone grist, bone meal, etc.; hoof meal, horn meal, etc.

      5%

      0%

      2.  

      0801

      Cashew nut

      12%

      5%

      3.  

      0801

      Cashew nut in shell

      12%

      5%  [under reverse charge]

      4.  

      0806

      Raisin

      12%

      5%

      5.  

      1104

      Cereal grains hulled

      5%

      0%

      6.  

      1702

      Palmyra jaggery

      18%

      0%

      7.  

      20 

      [All goods]

      Preparations of vegetables, fruits, nuts or other parts of plants, including pickle, murabba, chutney, jam, jelly

      18%/12%

      12%

      8.  

      2103, 2103 00, 2103 90 90

      Ketchup & Sauces [other than curry paste; mayonnaise and salad dressings; mixed condiments and mixed seasonings], Mustard sauces

      18%

      12%

      9.  

      2103 90 10, 2103 90 30, 2103 90 40

      Curry paste; mayonnaise and salad dressings; mixed condiments and mixed seasonings

      28%

      18%

      10.  

      2106

      Bari made of pulses including mungodi

      18%

      12%

      11.  

      2201 90 10

      Ice and snow

      12%

      5%

      12.  

      2501

      Salt, all types

      5%

      0%

      13.  

      27

      Bio gas

      12%

      5%

      14.  

      28

      Dicalcium phosphate (DCP) of animal feed grade conforming to IS specification No.5470 : 2002

      12%

      0%

      15.  

      30

      Insulin

      12%

      5%

      16.  

      29, 30, 3302

      (i) Menthol and menthol crystals,

      (ii) Peppermint (Mentha Oil),

      (iii) Fractionated / de-terpenated mentha oil (DTMO), 

      (iv) De-mentholised oil (DMO),

      (v) Spearmint oil,

      (vi) Mentha piperita oil

      18%

      12%

      17.  

      3304 20 00

      Kajal [other than kajal pencil sticks]

      28%

      Nil

      18.  

      3304 20 00

      Kajal pencil sticks

      28%

      18%

      19.  

      3307

      Agarbatti

      12%

      5%

      20.  

      3407

      Dental wax

      28%

      18%

      21.  

      3822

      All diagnostic kits and reagents

      18%

      12%

      22.  

      3926

      Plastic beads

      28%

      12%

      23.  

      3926 90 99

      Plastic Tarpaulin

      28%

      18%

      24.  

      4202

      (i) School satchels and bags other than of leather or composition leather;

      (ii) Toilet cases [4202 12 10];

      (iii)Hand bags and shopping bags of artificial plastic material [4202 22 10], of cotton [4202 22 20], of jute [4202 22 30], vanity bags [4202 22 40];

      (iv) Handbags of other materials excluding wicker work or basket work [4202 29 10].

      28%

      18%

      25.  

      4820

      Exercise books and note books

      18%

      12%

      26.  

      4823

      Kites

      12%

      5%

      27.  

      4903

      Children’s' picture, drawing or colouring books

      12%

      Nil

      28.  

      57

      Coir mats, matting and floor covering

      12%

      5%

      29.  

      65

      [All goods]

      Headgear and parts thereof

      28%

      18%

      30.  

      6703

      Human hair, dressed, thinned, bleached or otherwise worked

      28%

      0%

      31.  

      68

      Fly ash blocks 

      28%

      12%

      32.  

      6810 11 90

      Pre cast Concrete Pipes

      28%

      18%

      33.  

      6906

      Salt Glazed Stone Ware Pipes

      28%

      18%

      34.  

      7015 10

      Glasses for corrective spectacles and flint buttons

      18%

      12%

      35.  

      71

      Rough precious and semi-precious stones

      3%

      0.25%

      36.  

      7607

      Aluminium foil

      28%

      18%

      37.  

      8215

      Spoons, forks,  ladles, skimmers,  cake servers, fish knives, tongs

      18%

      12%

      38.  

      8308

      All goods, including hooks and eyes

      28%

      18%

      39.  

      84

      Pawan Chakki that is Air Based Atta Chakki 

      28%

      5%

      40.  

      84

      Fixed Speed Diesel Engines 

      28%

      12%

      41.  

      4011

      Rear Tractor tyres and rear tractor tyre tubes

      28%

      18%

      42.  

      8708

      Rear Tractor wheel rim, tractor centre housing, tractor housing transmission, tractor support front axle

      28%

      18%

      43.  

      8423 & 9016

      Weighing Machinery [other than electric or electronic weighing machinery]

      28%

      18%

      44.  

      8443

      Printers [other than multifunction printers]

      28%

      18%

      45.  

      8482

      Ball bearing, Roller Bearings, Parts & related accessories

      28%

      18%

      46.  

      8504

      Transformers Industrial Electronics

      28%

      18%

      47.  

      8504

      Electrical Transformer

      28%

      18%

      48.  

      8504

      Static Convertors (UPS)

      28%

      18%

      49.  

      8521

      Recorder

      28%

      18%

      50.  

      8525

      CCTV

      28%

      18%

      51.  

      8525 60

      Two-way radio (Walkie talkie) used by defence, police and paramilitary forces etc.

      28%

      12%

      52.  

      8528

      Set top Box for TV

      28%

      18%

      53.  

      8528

      Computer monitors not exceeding 17 inches

      28%

      18%

      54.  

      8539

      Electrical Filaments or discharge lamps

      28%

      18%

      55.  

      8544

      Winding Wires

      28%

      18%

      56.  

      8544

      Coaxial cables

      28%

      18%

      57.  

      8544 70

      Optical Fiber

      28%

      18%

      58.  

      8472

      Perforating or stapling machines (staplers), pencil sharpening machines

      28%

      18%

      59.  

      8715

      Baby carriages

      28%

      18%

      60.  

      9002

      Intraocular lens

      18%

      12%

      61.  

      9004

      Spectacles, corrective

      18%

      12%

      62.  

      9017

      Instruments for measuring length, for use in the hand (for example, measuring rods and tapes, micrometers, callipers)

      28%

      18%

      63.  

      9403

      Bamboo furniture

      28%

      18%

      64.  

      9504

      Playing cards, chess board, carom board and other board games, like ludo, etc. [other than Video game consoles and Machines]

      28%

      12%

      65.  

      9506

      Swimming pools and padding pools

      28%

      18%

      66.  

      9603 10 00

      Muddhas made of sarkanda and phool bahari jhadoo

      5%

      0%

      67.  

      9704

      Postage or revenue stamps, stamp-post marks, first-day covers, etc.

      12%

      5%

      68.  

      9705

      Numismatic coins

      12%

      5%

      69.  

      4823 90 11, 8472, 9101,9102, 9021

      Braille paper, braille typewriters, braille watches, hearing aids and other appliances to compensate for a defect or disability 

      [These goods are covered in List 32 appended to notification No.12/2012-Customs, dated 17.03.2012 and are already at 5% GST rate (Chapter 90)]

      -

      5%

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