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    Commerce Secretary Shri Rajesh Agrawal Co-Chairs India-Brazil 8th Trade Monitoring Mechanism Meeting
    NPCI International and Uzbekistan’s NIPC Partner to Enable UPI Payments Across Uzbekistan via UZQR
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August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.
August 31, 2026
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Synthetic-drug trafficking enforcement targets rail-borne amphetamine and MDMA consignments through baggage interceptions, seizures, follow-up delivery operations, and arrests.
Synthetic-drug trafficking enforcement involved two intelligence-led railway-station operations targeting amphetamine and MDMA transportation and receipt. Baggage intercepted at Bengaluru contained a crystalline substance preliminarily indicating amphetamine, while a separate Pune interception recovered substances purported to be amphetamine and MDMA tablets. The contraband and related packing material were seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Follow-up delivery action identified alleged receivers, and the carriers and alleged receivers were arrested under that statutory framework.
August 31, 2026
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India-Chile CEPA negotiations seek a balanced framework to expand trade, investment, technology cooperation and resilient supply chains.
India-Chile CEPA negotiations are being advanced toward conclusion by the end of the year through a balanced and commercially meaningful framework. The proposed partnership is intended to strengthen bilateral economic ties, expand trade and investment, and create equitable opportunities for businesses and people in both countries. Cooperation is envisaged in technology, talent and resilient supply chains, alongside enhanced engagement in healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering.
August 30, 2026
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Sugar price controls face persistent retail and wholesale price firmness despite duty-free imports, stockholding restrictions, and export prohibition.
Sugar retail and wholesale prices remained elevated despite measures intended to curb price increases, including duty-free imports of raw sugar, tighter stockholding norms for bulk users and dealers, and a prohibition on sugar exports. Ex-mill rates declined following the permitted duty-free imports, although customary margins continued between ex-mill, wholesale, and retail prices. Projected sugar production is lower than earlier estimates, while annual domestic demand remains substantial.
August 30, 2026
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Aadhaar OTP verification expands online vehicle and licensing services, reducing physical visits and curbing intermediary exploitation.
Aadhaar-based OTP verification will be extended to additional vehicle- and driving-licence-related services through the Vahan and Sarathi portals. The digital arrangement is intended to reduce physical visits to transport offices, prevent intermediary exploitation arising from delayed processing, and enable applications to be processed on a first-come, first-served basis. Physical attendance will remain necessary for vehicle inspections, identification of legal heirs, personal hearings, and authentication where Aadhaar OTP verification fails.
August 30, 2026
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Related-party creditor voting in personal insolvency turned on whether the debtor held majority ownership or direct board control.
Dissenting lenders challenged the admission and voting rights of five creditors alleged to be family-linked associate or related entities, contending that their voting share enabled approval of a personal insolvency repayment plan. They alleged invalid post-moratorium guarantee invocations, undisclosed liabilities, inadequate claim scrutiny and incorrect voting-share computation. The third member rejected the voting-rights challenge, treating associate status as requiring the debtor's personal majority shareholding or direct board control, and accepted the repayment plan.
August 30, 2026
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Examination continuity and candidate fairness require re-examination where power failures prevent completion, alongside review of infrastructure accountability.
NEET-PG 2026 examination continuity was disrupted for candidates at two Jaipur centres because of internal power-supply failures attributable to the technological partner and examination-conducting agency. A re-examination has been scheduled for the affected candidates, with the venue and revised admit cards to be communicated separately. Action against the entities responsible for ensuring adequate examination infrastructure is under consideration.
August 30, 2026
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Women's monthly assistance eligibility restricts benefits to qualifying households and channels payments through deposits or restricted digital wallets.
Delhi Lakshmi Yojana provides monthly financial assistance to eligible women through recurring deposits and restricted Central Bank Digital Currency wallets. Recurring deposits are locked until July 31, 2029, subject to possible review of the maturity period after two years from launch. Eligibility requires a qualifying woman to be the eldest female family member, meet income, residence and voter-registration requirements, and satisfy household restrictions. Income-tax payers, GST filers, government employees, higher-electricity-consuming households and four-wheeler-owning households are excluded.
August 30, 2026
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Gasoline trade amid refinery disruptions relies on sanctioned fleets and dark ship-to-ship transfers, alongside continuing fuel export restrictions.
Russian refinery disruption has increased gasoline imports and made India a significant supplier of gasoline to Russia. Indian supplies were principally linked to the Vadinar refinery, and increased Indian purchases of Russian crude may mean exported gasoline was produced from Russian crude. Russia has retained a gasoline export ban while domestic production remains disrupted. India-origin cargoes imported during August were carried on sanctioned fleets and involved dark ship-to-ship transfers, including transfers conducted with automatic identification system signals switched off.
August 30, 2026
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Digital arrest fraud: judicial responses seek a distinct offence while preserving due process and proportionality in economic-crime enforcement.
Suo motu consideration of digital-arrest fraud reflects a proactive judicial response to video-call scams involving impersonation of police, judicial officials or bureaucrats. The Union and the States have been directed to assess the problem, with a call for a distinct offence carrying proportionate penalties. Economic-crime enforcement remains subject to safeguards requiring written grounds of arrest and preventing pre-trial detention from becoming punishment. Due process, proportionality and the presumption of innocence remain central constraints.

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Press Note : Clarification regarding the Statistical reforms and the existing GDP series

June 10, 2019

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  1. Reports have appeared in a section of media regarding the statistical reforms being undertaken in the Ministry of Statistics and Programme Implementation (MOSPI) and on the existing GDP series.
  1. In so far as the statistical reforms are concerned, it is important to note that system reforms are an ongoing process and are necessary for ensuring responsiveness to the changing needs of society. Over a period of time, there have been increasing demands on the statistical system for production of relevant and quality statistics. The Ministry has been accommodating these demands by optimising the available resources and use of technology. As in any system, the advent of technology necessitates reforms in statistical processes and products with an aim to synergise the existing resources so that the system remains responsive. The recent step for the merger of CSO and NSSO was aimed at leveraging the strengths of the two organisations so that it can meet the increasing demands.
  1. In 2018, the Cabinet had approved several new activities including the conduct of new surveys on the Annual Survey of Services Sector (for a more elaborate coverage of the services sector), Annual Survey of Unincorporated Enterprises (to get a better understanding of these enterprises, primarily in the informal sector), Time Use Survey (for assessing the time disposition of household members) and the Economic Census of all establishments. All these activities require significant financial and human resources which take time to become available. The immediate requirement of manpower can be addressed through a judicious mix of redeployment of existing manpower resources and outsourcing to professional manpower agencies. The outsourced field staff has also to be rigorously trained before deployment and thereafter effectively monitored. This model is being implemented in the Economic Census and other NSS Surveys. In the last Economic Census conducted in 2013, the State Governments were requested to arrange for staff to conduct the field work, which led to delays in finalising and releasing the results. In the ongoing Economic Census, 2019, MoSPI has partnered with the Common Service Centres (CSC) SPV to undertake the field work, and the officers of National Sample Survey (NSS), State Governments and line Ministries will be involved in close monitoring and supervision of the field work to ensure data quality and good coverage. This is the first time that the rigours of monitoring and supervision of field work exercised in NSS will be leveraged for the Economic Census so that results of better quality would be available for creation of a National Statistical Business Register. This process has been catalysed by the establishment of a unified National Statistical Office (NSO).
  1. In the various media reports regarding the restructuring, what has been missed out, in particular, is the fact that MoSPI is giving an increased focus on Data Quality and Assurance by repositioning the existing data processing personnel. The traditional data processing activity required transformation in light of the adoption of Computer Assisted Personal Interviewing (CAPI) and e-schedule technology in NSS. The latter facilitates better and more reliable data capture with in-built validation checks. These changes require re-skilling of the existing data processing personnel so that they can perform the data quality assurance functions. An emphasis is also being given to more use of administrative data sets that have evolved or are evolving, after ensuring their quality and usability in the statistical system.
  1. In so far as the credibility of data is concerned, the Government of India adopted the United Nations Fundamental Principles of Official Statistics (FPOS) in May, 2016. The Government is thus committed to ensure and secure the autonomy and independence of the statistical system to produce appropriate and reliable data by adhering to internationally agreed professional and scientific standards. In the Indian context, there have been a series of expert committees constituted in the past, which made several recommendations for improving the functioning of the national statistical system. The reforms being undertaken in MoSPI are in consonance with these principles as also the various recommendations of the National Statistical Commission (NSC). In fact, the Ministry had drafted the National Policy on Official Statistics (NPOS) and placed the same in the public domain. Based on the comments received, this policy is being redrafted.
  1. The order issued on 23rd May, 2019 aimed at a unified NSO, as prevailing in most other countries, that produces reliable and quality statistical products by leveraging the synergies available within MoSPI. It may also be mentioned that the Government had merged the post of Chief Statistician of India (CSI) and Secretary, MoSPI to head the NSO and order of 23 May, 2019 on restructuring has since been accordingly clarified.
  1. The Chairman and Members of the NSC are senior functionaries and are entrusted with the responsibility of improving the national statistical system,  and the Ministry duly takes into consideration their recommendations and inputs. The status, role and functions of NSC continue as earlier (Press Release of 31 May, 2019 refers). Efforts are also on to evolve a legislative framework under which the NSC may function with independence and give holistic guidance for improving the national statistical system encompassing MoSPI, the line Ministries and the State Governments.
  1. In so far as the GDP series are concerned, the Ministry had issued several clarifications, which need to be duly considered for an informed and  balanced view to emerge. In fact, the detailed methodology and approach for the GDP series (new series and back series), are available in the public domain. The detailed Press Release of 30th May, 2019 explained the coverage of the MCA corporate data in the GDP estimates vis-à-vis the NSS (74th Round) Technical Report on services sector with a view to address issues raised in the media on the usage of MCA data. It was explained that the NSS had been conducted this survey to understand the challenges likely to emerge when the Annual Survey of Services Sector is undertaken. The findings were analysed at the macro level and it was noted that majority of the companies had filed their statutory on-line returns with MCA and were not missed out in the GDP estimation. The issue of misclassification was also explained in that the Corporate Identification Number (CIN) has the National Industrial Classification Code embedded which is usually not updated even if a company changes its activity declared at the time of its registration. Before MoSPI undertakes the Annual Survey on Services Sector, these limitations will be duly factored and incorporated in the survey design methodology. These findings will also be used when the GDP series is revised to a new base.
  1. It needs to be appreciated that GDP estimation is a complex exercise and is undertaken in an ecosystem of incomplete data. This necessitates complex simulations and statistical assumptions before a methodological approach is finalised in consultation with subject experts. In fact, many of the critics of the current GDP series were involved in the various Committees that deliberated and finalised the 2011-12base revision methodology. It may be noted that the decisions of these Committees were unanimous and collective, and were arrived at after taking into consideration the data availability and methodological aspects before being recommended as the most appropriate approach. The Ministry has conventionally involved a wide range of professional experts in its deliberations and the national statistical system has immensely benefitted from their contributions. In addition, India has subscribed to the Special Data Dissemination Standard (SDDS) of the International Monetary Fund (IMF) and an Advance Release Calendar is decided for release of estimates. The IMF had raised certain issues on the usage of double deflation in the Indian GDP series and India has informed IMF that the existing data availability does not permit its application in India at present.  In fact, the media reports, while citing the changes in GDP growth likely to result from adopting the double deflation, realise the varying outcomes obtained by different authors from their own distinct assumptions. It was because of such views that the Advisory Committee on National Accounts Statistics (ACNAS) had not agreed to the use of the double deflation at present stage. Moreover, double deflation is used in only a few countries that have a Producers Price Index (PPI) to deflate the inputs. MoSPI is working closely with Ministry of Commerce and Industry to have the methodology for the PPI finalised.
  1. Further, revision in GDP estimates occur when data coverage from administrative sources improves over time and these improvement get well documented. Consequently, the initial estimates of GDP tend to be conservative. To improve this, it would require concomitant changes in the sectoral data flows and associated regulatory framework in the data source agencies to facilitate use of more macro modelling techniques. The Ministry is also proposing to establish a National Data Warehouse on Official Statistics, where technology will be leveraged for using Big Data Analytical tools for further improving the quality of macro-economic aggregates. As all these reforms are an ongoing process, it is important that the readers and users understand and appreciate the limitations of data and the challenges in estimation. While undertaking these reforms, it is important to realise that newer data sets and survey results will invariably be used and it would be incorrect to comment that old processes were better than the new. The reforms being undertaken in MoSPI will lead to better data sets and better estimates in future, and will be duly deliberated on by the ACNAS during the Base Year revision.
  1. This is also to clarify on the apparent misconception that in the current GDP series the informal manufacturing sector grew at the same rate as the formal manufacturing sector measured by the Annual Survey of Industries (ASI). In fact, it is only the growth of appropriate type of enterprises in ASI (i.e. proprietary, partnership, HUF) that is used to move the bench mark estimates of the informal/unorganized manufacturing segment, and not the growth of the entire ASI. Moreover, while using the Paid-Up-Capital based scaling up of sample results, MOSPI now uses the much larger MCA database (about 7 lakh active corporates) whereas the results from a sample of only 2,500 corporates analysed by RBI were used in the earlier GDP series.
  1. The national statistical system works in an ecosystem of independence and autonomy in its statistical processes. Allusions to any external influence are altogether unwarranted. It has been the endeavour of the Ministry to continue educating users on the various statistical products and processes, which are essentially public goods. In this direction, the Ministry is now making available all primary data collected to the public free of cost. In so far as sharing the external secondary and administrative datasets are concerned, these are governed by various legislations and the researchers may approach the concerned custodian source agencies for more granular data.

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