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    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
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    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
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    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
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August 7, 2026
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Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
August 7, 2026
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Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
August 7, 2026
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Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
August 7, 2026
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Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
August 7, 2026
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Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
August 7, 2026
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Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
August 7, 2026
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Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
August 7, 2026
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Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
August 7, 2026
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BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
August 7, 2026
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Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
August 6, 2026
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Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
August 6, 2026
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Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
August 6, 2026
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Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
August 6, 2026
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Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
August 6, 2026
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Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
August 6, 2026
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Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
August 6, 2026
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Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
August 6, 2026
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NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
August 6, 2026
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Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
August 6, 2026
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Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.

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Goods & Services Tax collections

August 3, 2018

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The Government maintains month-wise data of Goods & Services Tax collection. The details of collections from July, 2017 to June 2018 are at Annexure.

The accounting of GST collections in the Central Government is done on the cash basis. Accordingly, the accounting with regard to CGST, IGST and Compensation Cess is done upon the happening of actual event of collections, refunds and settlements. The details are at Annexure.

The Government maintains the data of IGST collected and apportioned. The month-wise details are at Annexure.

Apart from the regular monthly IGST settlement, the Government has done provisional settlement of un-apportioned IGST lying with the Centre of a total of ₹ 85000 crores (Rs 35,000 in month of February, 2018 and ₹ 50,000 crore in month of June, 2018) equally between Centre and States.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a Written Reply to a Question in Lok Sabha today.

Annexure

Figures in Rs. Crore

 

 

CGST

 

 

IGST

 

 

Comp. Cess

 

Total Net

Month

Gross

Refund

Settlement

Net

Gross

Refund

Settlement

Net

Gross

 

Refund

 

Net

 

 

 

 

(+)

 

 

 

(-)

 

 

 

 

 

 

 

July

10

 

 

10

20958

 

 

20958

593

 

 

 

593

21561

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

August

15252

 

3297

18549

49968

 

10978

38990

7156

 

 

 

7156

64695

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September

15131

 

5081

20212

48930

 

15933

32997

8024

 

 

 

8024

61233

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

October

14962

 

7855

22817

47995

76

21144

26775

8032

 

 

 

8032

57624

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

November

13690

 

10145

23836

42694

48

24027

18619

7103

 

 

 

7103

49557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December

13928

86

10348

24190

42765

805

24835

17125

7922

 

23

 

7898

49213

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January

14874

287

8583

23170

45338

2247

23651

19441

8070

 

21

 

8049

50660

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

February

14763

511

28827

43079

42382

2325

59806

-19749

8196

 

23

 

8172

31502

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March

16266

1015

12140

27390

46326

7294

25564

13468

7520

 

42

 

7478

48336

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

118876

1899

86275

203253

387356

12794

205938

168623

62614

 

109

 

62505

434381

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GST Collection (FY 2018-19)

 

 

 

 

 

 

 

 

 

CGST

 

 

IGST

 

 

Comp. Cess

 

Total Net

Month

Gross

Refund

Settlement

Net

Gross

Refund

Settlement

Net

Gross

 

Refund

 

Net

 

 

 

 

(+)

 

 

 

(-)

 

 

 

 

 

 

 

April

18653

392

13841

32102

50548

1852

28395

20301

8554

 

16

 

8538

60942

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May

15866

681

12931

28116

49120

5800

25261

18060

7339

 

75

 

7265

53440

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June (FF)

15968

593

15676

31052

49498

9223

30338

9937

8122

 

105

 

8017

49005

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

50487

1666

42448

91270

149166

16875

83993

48298

24015

 

195

 

23820

163388

Topics

Acts Income Tax