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    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
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August 1, 2026
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Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
August 1, 2026
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PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
August 1, 2026
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Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
August 1, 2026
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GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
August 1, 2026
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Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
August 1, 2026
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GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
August 1, 2026
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GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
August 1, 2026
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Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
August 1, 2026
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Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
August 1, 2026
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Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
August 1, 2026
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Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
July 31, 2026
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Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
July 31, 2026
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A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
July 31, 2026
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July 31, 2026
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Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
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July 31, 2026
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Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
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July 31, 2026
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India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
July 31, 2026
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Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
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July 31, 2026
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One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
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Enormous Challenge Posed by the Increased Threat of Drugs not Limited by National Boundaries and must be Tackled by Concerted and Collective Efforts of all Countries: S.S.Palanimanickam,MOS (Revenue).

November 14, 2011

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Press Information Bureau

Government of India

Ministry of Finance

14-November-2011 13:39 IST

Enormous Challenge Posed by the Increased Threat of Drugs not Limited by National Boundaries and must be Tackled by Concerted and Collective Efforts of all Countries: S.S.Palanimanickam,MOS (Revenue)

Union Minister of State for Revenue, Shri S.S.Palanimanickam has said that India has put in place an elaborate legislative and administrative mechanism to counter the drug menace in the country and we are conscious of the need to periodically review and strengthen the same. He was inaugurating the Second Paris Pact Working Group meeting on precursors here today.

The Minister of State (Revenue) Shri Palanimanickam stated that this meeting is being held at the backdrop of the release of 2011 Afghan Opium Survey by the United Nations Office on Drugs and Crime (UNODC) which indicates a 7% increase in the area under illicit opium poppy cultivation in Afghanistan over the 2010 figures, which is alarming. He said that equally significant is the fact that this cultivation is reported to have spread to areas which were earlier declared as ‘poppy free’ in the country. This cultivation is estimated at One hundred and thirty one thousand hectares, which is likely to result in production of Five thousand eight hundred metric tonnes of illicit opium and this represents a 61% increase over the expected production for the year 2010, he said. Shri Palanimanickam said that the experts present at the meeting were aware of the potential damage to society that can be caused by such a large scale of illicit production of drugs as it not only supports criminal activity which has linkages to other forms of organized crime, but also has implications on health and well being of the people. Afghan opium is estimated to kill a hundred thousand people every year, worldwide, he added. The Minister stated that the problem of drug addiction and diseases spread by intravenous injection such as HIV-AIDS in most of the participating countries indicates worrying trends that should provide an incentive for all governments to consider combating drug abuse as an integral part of public health policies and to deal with it at regional and international level.

Shri Palanimanickam said that the challenge posed by the increased threat of drugs is enormous and as this problem is not limited by national boundaries, it must be tackled by concerted and collective efforts of all countries. He stated that on account of this initiative such as the Paris Pact Initiative, under the United Nations Office on Drugs and Crime, is indeed laudable. This is because this initiative brings together the efforts of over 50 countries, which are directly affected by opium trafficking from Afghanistan and a recognition that this fight against drug abuse is a shared responsibility. Recognizing the extent and gravity of the problem, the Government of India, this year, has contributed Two Hundred Thousand U. S. dollars to the Paris Pact Initiative, he said.

Shri Palanimanickam highlighted before the gathering India’s unique position in the world in the matters relating to drugs. He said that India was one of the very few countries which have a tradition of medical use of naturally occurring drugs, particularly opium. United Nations in its Conventions has recognized this tradition and has accorded India the status of a licit supplier of opium to the world, for medical and scientific purposes, he said . At the same time, he stated that India lies between two of the major illicit opium and heroin producing regions of the world, namely Afghanistan and Myanmar and our country also has a thriving pharmaceutical industry which utilizes a number of such narcotic drugs and psychotropic substances and is the source of several lifesaving medicines for the world. He added that we are manufacturers, consumers and exporters of some of the major ‘pre cursors’ which have legitimate uses by themselves, but which are also critical ingredients in the manufacture of drugs of abuse. Shri Palanimanickam said that as in sheer numbers, we account for a sixth of humanity – all this places upon us a great responsibility to establish a regulatory and enforcement regime which is alive to the emerging challenges and reacts to them equally dynamically.

The Minister of State Shri Palanimanickam said that the area of pre cursors on which the Expert Working Group would focus was an extremely critical area in the context of drug trafficking originating from Afghanistan. He said that the illicit opium production in Afghanistan largely gets converted to heroin and for this, the use of Acetic Anhydride and some other chemicals is critical. He stated that it is apparent that the efforts towards preventing trafficking of precursors must really be strengthened to prevent its supply to Afghanistan and that we in India are particularly conscious of this, being significant producers of precursors . He hoped that the deliberations during the course of the two day meeting would be able to provide implementable strategies to curb precursor trafficking into Afghanistan. He reaffirmed the Government of India’s commitment to values espoused by the United Nations.

Speaking on the occasion, Finance Secretary, Shri R.S.Gujral said that the deliberation of this expert group in resolving the issues emerging out of the movement of precursor chemicals where they are misused in drug production is of core importance. He said that this expert group is facing the challenge of addressing the situation in Afghanistan arising out of continuing opium cultivation and of putting their expertise together to prevent the movement of precursor chemicals like Acetic Anhydride from reaching the hands of traffickers. These developments have critical implications for the long term security of our region and of the world, for economies of our countries and the well-being of our people, he said .

Ms. Cristina Albertin, Regional Representative of UNODC in India said that countering the trafficking and consumption of opiates originating in Afghanistan is a top priority for the international community in the light of it’s undermining effect on the security and stability in the broader region , including South, South West and Central Asia and the globe in general.

Among others present on the occasion were Mr. Pierre Lapaque, Chief, Implementation Support Section, Organised Crime Branch, United Nations Office on Drugs and Crime (UNODC), experts from Paris Pact Member countries and officials from various Ministries and agencies of the Government of India .

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