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August 22, 2026
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Power tariff revision faces political opposition over increased consumer electricity costs and conflict with prior free-electricity commitments.
Power tariff regulation in Jammu and Kashmir and Ladakh has been revised through approval of an average tariff increase, effective from 1 September 2026. Political representatives have opposed the increase on the ground that it adds to consumer hardship amid unemployment, inflation, and sectoral difficulties. The criticism also contrasts the revised tariff with prior commitments concerning free domestic electricity and gas.
August 22, 2026
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Recruitment examination integrity prompted enforcement scrutiny and proposed disciplinary inquiry, while an officer's absence was attributed to family emergency.
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August 22, 2026
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Money-laundering and benami asset allegations prompt enforcement proceedings, while the accused officer's brother calls the action selective targeting.
Enforcement proceedings under the Prevention of Money Laundering Act concern allegations that suspended police officer Vijay Choudhary managed numerous assets through benami transactions and engaged in money laundering. An Anti-Corruption Bureau FIR had already been registered in relation to the allegations. Surinder Choudhary characterised the action as selective targeting but maintained that investigating agencies and the judiciary should address and decide matters concerning his family.
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August 22, 2026
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Form 15CB certification faces scrutiny where inadequate verification allegedly enables foreign remittances through shell companies and false certificates.
Alleged misuse of Form 15CB certification has resulted in criminal proceedings concerning certificates issued for foreign remittances without verification of underlying documents. Form 15CB requires certification of applicable taxability and tax-deduction particulars for specified remittances to non-residents before processing by an authorised dealer. The allegations concern certificates that potentially enabled cross-border transfers through shell or non-existent companies, involving cheating, false certification, false evidence and common intention.
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Beginner stock market investing requires a bank account, a trading or broking account with a SEBI-registered broker, and a Demat account for electronic holding of securities. Investments involve risk of loss and should align with financial goals, time horizon and loss-bearing capacity. Investors should understand primary and secondary markets, distinguish long-term investing from short-term trading, assess companies before purchase, diversify holdings, consider charges, maintain records and avoid borrowed-money investing, rumours and momentum-driven decisions.
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August 22, 2026
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KoINDEX 2026 is a business-to-business trade exhibition bringing Korean manufacturers and exporters together with buyers in India and South Asia. It focuses on beauty and personal-care products, processed and functional foods, and construction, building and safety products. Commercial engagement includes pre-matched export consultations with project owners, contractors, distributors, wholesalers, e-commerce platforms and food distribution businesses. A seminar addresses Bureau of Indian Standards certification and market-entry requirements for Korean products entering the Indian market.
August 22, 2026
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Independent PMLA proceedings require separate anticipatory bail assessment; predicate-offence protection alone cannot establish pre-arrest protection.
Protection in a predicate-offence FIR does not automatically extend to independent PMLA proceedings. Anticipatory bail in a money-laundering investigation must be assessed under the applicable PMLA condition and on the material connecting the applicant to alleged proceeds of crime. Relevant considerations include the financial trail, recorded statements, bank-account analysis, compliance with summonses, cooperation with inquiry, and the need for personal participation in evidence collection and confrontation with documentary and digital material.
August 22, 2026
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Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
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August 22, 2026
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August 22, 2026
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Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
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August 22, 2026
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Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
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August 21, 2026
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Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
August 21, 2026
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Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
August 21, 2026
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Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
August 21, 2026
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Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
August 21, 2026
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Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.

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Direct Tax Coleections Account for More than 56 Percent of the Total Revenue Collections ; Direct Tax Collections Rs 4,46,000 Crore in 2010-11;

July 15, 2011

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Press Information Bureau

Government of India

Ministry of Finance

15-July-2011 18:29 IST

Direct Tax Coleections Account for More than 56 Percent of the Total Revenue Collections ; Direct Tax Collections Rs 4,46,000 Crore in 2010-11;

Government’s Thrust on Upgrading and Induction of New Technology in the Services Rendered by it Department: FM

The Union Finance Minister Shri Pranab Mukherjee said that direct tax collections now account for more than 56 per cent of the total revenue collections of Central Government, making the tax system more progressive than it ever was in the history of independent India. The Finance Minister Shri Mukherjee said that direct tax collections have increased and have reached nearly Rupees four lakhs forty six thousand crores (Rs.4,46,000 crore) in 2010-11. He said that the Income Tax Department has matured into an organisation that has consistently mobilised the resources needed for financing the development of the country. Shri Mukherjee was addressing the senior officials of the Income Tax Department here today on the occasion of the Concluding Ceremony of the Celebrations on Completion of 150 years of the Income Tax Department The Hon’ble President of India Smt Pratibha Devisingh Patil was the Chief Guest on the occasion.The function was also attended by Shri S.S.Palanimanickam, Minister of State for Revenue, Shri Namo Narian Meena, MOS (Financial Services), Shri M.M Joshi, Chairman, Public Accounts Committee(PAC), Shri R.S.Gujral, Revenue Secretary, Shri Prakash Chandra ,Chairman, CBDT along with senior officials of the CBDT and the Ministry of Finance among others

The Union Finance Minister Shri Pranab Mukherjee said that there has been considerable improvement in the efforts of the IT Department to provide better services to the taxpayers. The Finance Minister Shri Mukherjee said that the Central Government’s thrust has been on upgrading and induction of new technology in the services rendered by the IT Department. Shri Mukherjee said that the Department has focused on e-governance initiatives to meet the challenges of the rapidly changing economic environment and the expectations of the growing numbers of taxpayers.

The Union Finance Minister Shri Pranab Mukherjee said that our ancient history and culture give us in India our unique identity. Shri Mukherjee said that ancient lawgivers and philosophers, like Manu and Chanakya, wrote extensively on the duties of a sovereign and their relationship with the subjects. The Finance Minister said that they had laid foundations of mighty empires and enabled the spread of India’s unique culture and civilization across many countries. He said when Mr. James Wilson introduced Income Tax in India in its modern form, he was only following in the footsteps of this illustrious tradition. The Finance Minister said that the ancient dictum, ‘Kosh Mul Danda’ continues to be as relevant today as it was thousands of years back.

The Union Finance Minister Shri Pranab Mukherjee said that during the course of the yearlong celebrations by the department, one of our officers was able to locate Mr. James Wilson’s grave in Kolkata.

The Union Finance Minister Shri Pranab Mukherjee said that he must add that contrary to general understanding, the worlds of finance and culture are not as divorced as they are sometimes made out. He said that the portrait of Surendranath Tagore, nephew of Gurudev Rabindranath Tagore, as a Tax collector, painted by Gagendranath Tagore, another nephew of Gurudev, which has been reproduced in the book released today, is a case in point. He said that it was in this spirit that an Art Workshop was organized in July 2010 in Kolkata. The enthusiastic response of the people and the artist community of Bengal encouraged the officers of the department to hold workshops and exhibitions in 18 other cities across India, the Minister added. The response everywhere was similar. The Finance Minister Shri Mukherjee said that the wealth of art, ranging from tribal and folk, classical to modern cubism that emerged in these workshops reinforces the classic dictum that there is unity in India’s diversity. Shri Mukherjee said that it showed that our society is live and our culture is rich. More importantly it reflected that our people are not wary of the Government when it takes such initiatives, Shri Mukherjee added. The Union Finance Minister Shri Pranab Mukherjee complimented the Income Tax Department, and the organisers of these art workshop, on this unique initiative of bringing the department closer to the people of our country and hope that this approach finds other suitable expressions in the years to come.

In his concluding remarks, the Union Finance Minister Shri Pranab Mukherjee said that at one level, tax collection is a painful and a difficult task, as it requires people to part with their hard-earned incomes. The Finance Minister Shri Mukherjee said that this task could become more acceptable and participatory if the tax payer knows that his contributions are being constructively used in the task of nation building. Shri Mukherjee said through the film and the artworks, we have tried to remind people that their tax contributions go a long way in bringing a smile on the faces of many people, who otherwise would languish in poverty. At the same time, it helps in creating the opportunities for them to grow and improve their well-being, the Minister added.

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