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    Europe emerges top destination for India's electric car shipments in Q1
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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.
August 16, 2026
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LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
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.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
August 14, 2026
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Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
August 14, 2026
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International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
August 14, 2026
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Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
August 14, 2026
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International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
August 14, 2026
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Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.

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PMLA, Black Money & ED

Valedictory remarks of the Vice President and the Chairman, Rajya Sabha, Shri M. Venkaiah Naidu on the conclusion of 248th session (Budget session) of the Upper House (Rajya Sabha) of Parliament

February 13, 2019

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Following is the text of valedictory remarks of the Vice President and the Chairman, Rajya Sabha, Shri M. Venkaiah Naidu on the conclusion of 248th session (Budget session) of the Upper House (Rajya Sabha) of Parliament:

Leader of the Opposition Shri Ghulam Nabi Azad ji, leaders of various parties and Members of the august House!

As we come to the close of yet another session, we are at a moment of reflection, a stock taking of what we have achieved and what we have not.

With a heavy heart I have to say that this short but important Budget session of Rajya Sabha turned out to be yet another wasted opportunity. This only reinforces the ‘dysfunctional pattern’ that has been evident over the last few years which is a matter of serious concern as it poses a serious threat to parliamentary democracy.

It is time for all sections of the House to evolve a ‘collective conscience’ to enable effective functioning of the House further to deep introspection to prevent any further damage to the standing of this august House which is also known as the House of Elders. Elders are usually expected to show the way to others.

This was the earnest hope with which I began this session. The optimist in me tells me not to lose the hope and instead wait for a turn around. I only hope that this would happen sooner than later.

Parliamentary democracy is all about ensuring governance through accountability to the people, the ultimate patrons and the ultimate masters. It is not only the accountability of the ‘executive’ to be ensured by the legislatures but the accountability of the ‘legislature’ and the ‘judiciary’ as well. What about the accountability of the legislatures and their failure to discharge the mandated functions? Rajya Sabha, as the second chamber of the apex legislature too is accountable to the people. It’s performance rankles me quite a bit.

This session being the last one before the general elections fast approaching, we need to know as to what extent this august House lived up to it’s role and responsibilities. In a new initiative, I would like to present the broad story of functioning of this august House over the last five years.

As the responsible electorate of our country are soon set to give another verdict, I thought that it would be appropriate and even necessary to present a ‘Report to the people’ on the functioning of Rajya Sabha during the five years since the people gave their verdict last time.

The legislature and the executive have the bounden duty of doing the needful responding to the wishes and aspiration of the people as conveyed in their mandate in the general elections. All the members of this august House would be well aware of the three critical functions of legislatures….Legislative, Deliberative and Accountability functions. We are supposed to make necessary legislations for the betterment of the country and the people, take up and deliberate on issues of public importance and ensure the accountability of the government of the day. Evidence suggests that we did not rise to the occasion in respect of all these three vital responsibilities. People of our country know this and if some don’t, they need to know. That is why a performance report is in order.

Since June, 2014, Rajya Sabha held 18 sessions and 329 sittings till today and passed only 154 bills. This comes to less than a bill in two sittings. The bills passed during this period is 34 lesser than the 188 bills passed during 2009-14 and an astonishing 58 bills lesser than the 251 bills passed by this House during 2004-09. These statistics clearly show that the legislative output of this House has substantially declined since 2014.

Question Hour is primarily meant to ensure the accountability of the executive of the day. Calling Attention Notices and Short Duration Discussions besides the Zero Hour and the provision for making ‘Special Mentions’  are meant for raising issues of public importance and concern. But we had shown scant regard for them.

Every Question Hour lost means an opportunity of seeking answers from the government on 8 issues of policy, implementation and governance by 40 members. Every Zero Hour lost means depriving 15 members from raising issues of immediate public importance. Similarly, if the House doesn’t function, about ten more members lose the opportunity of raising as many issues in the House.

Since June,2014, the productivity of this august House, in terms of the time available and the time utilized for taking up legislative business and the issues of public concern is only 60%. Who is to be held accountable for wasting 40% of the valuable time of this august House? I leave it to the conscience of all sections of the House.

Of the total 18 sessions over the last five years, the productivity of the House has been below the five year average of 60% in respect of 8 (Eight) sessions.

In terms of bills passed, it ranged from just one Bill in case of the Winter session of 2016 and the Budget session of 2018, two bills passed during the Monsoon session of 2015 to a maximum of 14 bills each passed during the monsoon sessions of 2016 and 2018.

While the sittings of the House per year during the last five years has been as per the trend of 60-70 days, the declining productivity and legislative output is a matter of deep concern. A large number of bills are pending consideration of the House, as you all know.

During the last five sessions that I have had the honour of presiding over, a total of 28 bills have been passed during 88 sittings which comes to less than a bill in three sittings. While three Bills were passed during the last Winter Session, this Budget session proved to be far less productive.

This session and the last one have witnessed heightened efforts by some sections of the House to force this august House into a kind of ‘suspended animation’. This has forced me to name some members of the House during the last session as I was worried about the public perception about the state of affairs in the House. Further logical action could not be taken as some senior leaders assured me that they would talk it out with the concerned parties and convince them not to disrupt the House any further. But it did not happen, unfortunately.

I have made my best possible efforts to enable normal functioning of the House but reason did not prevail. I have been regularly talking to leaders of various parties but my anguish had no impact. This only exposed the limitations of the chair in altering the scripts of some sections of the House. This is very unfortunate. If that be the situation, what is the way forward?

As the Hon’ble Members are aware, I have set up a two member committee, to examine the existing provisions of the Rule of Business of the House in terms of their adequacy to enable smooth functioning of the House. This report has been received and the same will soon be referred to the General Purposes Committee of the House.  I would like the Committee to take a final in view on the recommendations so that they could be made effective before the next full session of the House.

Hon’ble Members!

Ultimately, this august House would be what you want it to be. A performing one or a dysfunctional one. People of the country want it to be a performing one. If you have other ideas, you owe an explanation to the people, the ultimate masters.

During this Budget session with 10 sittings, as against the available total time of 48 hours, 39 hours 51 minutes has been lost due to disruptions. Productivity of the House during this session has been 4.79%.

Hon’ble Members

The looming prospect of this session ending up as one without passing any bill has been thankfully averted by late realization and some understanding today. As a result, 5 Bills have been passed today. But I suggest that the practice of passing bills without discussion is better avoided. 6 bills have also been introduced during this session. Only 16 Zero Hour submissions could be taken up during this session and no special mentions at all. We all agree that it was not enough.

I hope the ‘Report to the People’ on the functioning of the House during the last five years will be taken serious note of by the Hon’ble Members and the people at large.

Members of this august House are elected by those elected by the people. You are supposed to demonstrate higher sense of responsibility and ensure normal functioning of the House guided by the people’s concerns and their expectations.

Each of us must seriously think if we can collectively enhance the quality of debates, discussions and, most importantly, the demeanour. If you can follow procedures and use the available parliamentary tools, the hopes and aspirations of the people you are expected to articulate will be heard. If cacophony and disruptive spectacle becomes our House’s defining characteristic, we would have betrayed people’s trust in each one of us. I do hope we don’t allow further downslide in the coming sessions.

Hon’ble Members!

Despite all the shortcomings during the last five years, Rajya Sabha passed a few path breaking Bills positively impacting the socio-economic development of the country besides checking corruption and improving transparency. These include:

1. The Constitution (124th Amendment) Bill,2019 providing 10% reservation for economically weaker sections;

2. The Constitution (122nd Amendment) Bill, 2014 for introduction of GST and nine other related Bills;

3. The Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Amendment Bills, 2015 and 2018;

4. The Criminal Laws (Amendment) Bill, 2018 to prevent sexual abuse of children;

5. The Fugitive Economic Offenders Bill, 2018;

6. The Prevention of Corruption (Amendment) Bill, 2018;

7. The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Bill, 2015;

8. The Insolvency and Bankruptcy Code, 2016 and the related Amendment Bill, 2017;

9. The Constitution (123rd Amendment) Bill, 2017 for setting up a National Commission for Backward Classes;

10. The Real Estate (Regulation and Development) Bill, 2016 to protect the interest of buyers and enhance the confidence in and credibility of the important real estate sector;

11.The Mines and Minerals (Development and Regulation) Amendment Bill,2015 and 2016 besides The Coal Mines (Special Provisions) Bill,2015 for auctioning of mines;

12. The Aadhar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Bill, 2016;

13. The Child Labour (Prohibition and Regulation) Amendment Bill, 2016;

14. The Commercial Courts, Commercial Divisions and Commercial Appellate Division of High Courts Bill, 2015; and

15. The Rights of Persons with Disabilities Bill, 2016.

Hon’ble Members!

There is a growing perception that our democracy is in danger through dysfunctional legislatures. The debates in the Constitution Assembly were full of difference of views, humour and hope. But the members still debated and gave us a fine document, the Constitution of India as the law of the land. Obstruction of proceedings can’t be allowed to emerge as the preferred form of parliamentary expression substituting informed debates. Our nation has just entered the 70th year of Republic. Legislatures and their hon’ble Members should discharge their noble responsibilities. As the House of Elders, we need to lead by example. This is a privilege that people bestow on a few. The expectations are high. Our responsibilities are onerous. We can ill afford to regret over lost opportunities we have had.

We must script a new chapter next time we meet, a chapter we can all be proud of.

Hon’ble Members

RSTV is the property of this august house. I am happy to inform that RSTV, on the 4th of this month crossed 2 million mark in terms of YouTube subscribers and has emerged as one of the leading channels has grown five times since then.

This reflects on the interest of the people in the proceedings of the House and related content. Hon’ble members may keep this in mind.

Though not a very productive session, I would like to thank all of you and particularly, the Rajya Sabha Secretariat for their efforts and hardwork.

Jai Bharat!”

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Acts Income Tax