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    Sugar prices soar to Rs 70 per kg ahead of festive season in Bengal, jaggery also dearer
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August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
Show AI Summary
Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.

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FAQ ON KERALA FLOOD CESS

August 1, 2019

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1. Why Kerala Flood Cess is imposed?

Ans. Kerala Flood Cess is levied to raise the fund required for re-construction of State after the devastating flood occurred in the State during August 2018.

2. Which is the date of commencement of Kerala Flood Cess?

Ans. Kerala Flood Cess is applicable from the 1st August, 2019 onwards as per notification No. S.R.O. 436/2019 dated 29/06/2019 for a period of two years.

3. Kerala Flood Cess levied under which Law?

Ans. Kerala Flood Cess is levied under Section 14 of Kerala Finance Act, 2019. The Kerala Flood Cess Rules published vide Notification SRO. No.359/2019 published as G.O.(P) No.80/2019/TD dated 25-05-2019.

4. Whether levy of Kerala Flood Cess is approved by GST Council?

Ans. Yes. 32nd meeting of the GST council has accorded sanction to levy of Kerala Flood Cess.

5. How long the Kerala Flood cess will be collected and at what rate?

Ans. Kerala Flood Cess will be in force for a period of two years from the date of commencement. Kerala Flood Cess is imposed @ 1% on the value of supply of goods or services or both coming under Schedule II, III & IV of SRO.No.360/2017 Dt. 30.06.2017. But in the case of goods coming under Fifth Schedule of SRO.No.360/2017 (gold, diamond etc.), the Kerala Flood Cess is applicable at the rate of 0.25%.

6. Is any separate registration required for the payment of Kerala Flood Cess?

Ans. No. GSTIN will be treated as Registration Number for Kerala Flood Cess. The tax payer has to login the official website “www.keralataxes.gov.in” to generate user ID and password. While entering GSTIN number, one time password (OTP) will be sent to the mobile number of authorized representative for creating used ID and password. After login to the system, tax payers shall furnish the details of turnover applicable for Kerala Flood Cess and make e-Payment of Kerala Flood Cess. Detailed procedure for the filing of return will be released separately.

7. When Kerala Flood Cess is to be remitted to Government?

Ans. As per GST Law, the tax due for a month has to be remitted on or before 20th of the succeeding month in GSTR 3B return. Due date for filing GSTR 3B shall be applicable for the Kerala Flood Cess return.

8. What are the details to be furnished in the return?

Ans. After login to the system, select the return period and enter the details of turnover of outward supply leviable under Kerala Flood Cess based on GST tax rates.

9. Whether Kerala Flood Cess is applicable to goods and services?

Ans. Yes. Kerala Flood Cess is applicable to goods and services or both as per Section 14 (2) of Kerala Finance Act, 2019.

10. Kerala Flood Cess is to be calculated on which value?

Ans. Kerala Flood Cess is to be calculated on the value of supply. The CGST and SGST collection shall not be included in the value of supply. Eg:- If the value of supply is ₹ 100/- and tax rate of the commodity is 12% GST, the invoice to be raised as shown below:

            Value of supply           -  ₹ 100/-

            CGST                          -   ₹ 6/-

            SGST                          -   ₹ 6/-

            Cess                             -  ₹ 1/-

            Total sales value          - ₹ 113/-

As per SRO.No.434/2019 Dt. 28.6.2019 Rule 32A is incorporated in Kerala Goods and Services Tax Rules 2017 to clarify value of supply. As per this rule, the value of supply of goods or services or both on which Kerala Flood Cess is levied under clause 14 of the Kerala Finance Bill, 2019 shall be deemed to be the value determined in terms of Section 15 of the Act, but shall not include the said cess.

11. Whether Kerala Flood Cess is applicable for interstate supply?

Ans. No. Kerala Flood Cess is applicable only for intra-state supply.

12. Whether supply to registered taxpayer in Kerala attracts Kerala Flood Cess?

Ans. No, if the supply is made in furtherance of business. Supply of Goods or Services or both made by a taxable person in the State to another taxable person having Goods and Service Tax Registration in the State shall be leviable to Cess, if the supply is made not in furtherance of business.

13. Whether Kerala Flood Cess is applicable for supply of exempted goods or services?

Ans. No.

14. Whether tax payers opting composition scheme is liable to pay Kerala Flood Cess?

Ans. Composition tax payers are exempted from the levy of Kerala Flood Cess as per Section 14(1)(i) of Finance Act,2019.

15. What are the items exempted from the levy of Kerala Flood Cess?

Ans. The goods or services or both leviable to Kerala Flood Cess are described in Sec.14(2) of Kerala Finance Act, 2019. All goods or services or both not covered in the above Section shall be exempted from levy of Kerala Flood Cess.

16. Whether Kerala Flood Cess is collectable from customers?

Ans. Yes. It can be collected from customers by showing separately in the invoices.

17. Whether the Kerala Flood Cess is to be separately disclosed in the bill / invoice or a it can be borne and paid by the tax payer from their margin?

Ans. SGST Rule 46 (l) & (m) regarding issue of tax invoice is applicable in the case of Kerala Flood Cess also. Hence subject to conditions applicable to issue of invoice under the same Rule shall be applicable to Kerala Flood Cess also. Therefore as per Rule the Invoice shall contain details of Kerala Flood Cess like rate of tax and amount of tax charged in respect of taxable goods or services.

18. Whether purchase of motor vehicles for own use of a tax payer is eligible for exemption from levying Kerala Flood Cess?

Ans. No. Since the supply is not in furtherance of business.

19. At which point of supply cess is to be imposed?

Ans. Transaction between tax payers in furtherance of business is exempted from levy of Kerala Flood Cess. If a supply is made to an unregistered tax payer, Kerala Flood Cess is to be levied. If the supply is made to a registered person but not in furtherance of business, Kerala Flood Cess is to be levied.

20. Whether interest is applicable for delayed payment of Kerala Flood Cess?

Ans. Yes. The provision of Kerala Goods and Services Tax Act, 2017 and Central Goods and Services Tax Act, 2017 and Rules made there under including those relating to definitions, authorities, assessments, audit, non-levy, short levy, interest, appeal, recovery, offenses and penalties shall apply in relation of levy of collection of Kerala Flood Cess. Interest @ 18% will be applicable for delayed payment of Cess.

21. Whether a person situated outside Kerala having registration outside Kerala and receiving inward supply of service or goods or both where the place of supply is in Kerala will be chargeable Cess?

Ans. Yes, Exemption is eligible only for registered taxable person having GST registration in Kerala GST.

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