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August 3, 2026
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MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
August 3, 2026
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Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
August 3, 2026
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Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
August 3, 2026
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Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
August 3, 2026
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Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
August 3, 2026
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Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
August 3, 2026
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Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
August 3, 2026
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Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
August 2, 2026
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Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
August 2, 2026
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Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
August 1, 2026
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GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
August 1, 2026
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Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
August 1, 2026
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Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
August 1, 2026
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GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
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.

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Union Finance Minister’s Speech at Closing Ceremony of Vatsalya Mela

November 19, 2011

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Press Information Bureau

Government of India

Ministry of Finance

19-November-2011 18:17 IST

The text of the Speech of the Union Finance Minister Shri Pranab Mukherjee at the Closing Ceremony of the Vatsalya Mela at Delhi Haat near INA here today is given below:

It gives me great pleasure to be here today to be a part of the closing ceremony of Vatsalya Mela, 2011. I congratulate the Ministry of Women and Child Development for organising such an important event annually to generate awareness amongst the people about policies, programmes, and initiatives of the Government in addressing the issues concerning women and children.

2. We all understand what Vatsalya means, we have experienced in our life-the wonder that is mother, her unbounded love for her children. This year the Mela was inaugurated on Children’s day, on the birthday of our late Prime Minister Pt. Jawaharlal Nehru, architect of modern India whose vision was to build a “noble mansion of free India, where all her children may dwell”. The closing ceremony of the Mela, is taking place today which is on the ‘National Integration Day’, a day that marks the birth anniversary of our first woman Prime minister, Smt. Indira Gandhi, an ideal for millions of women in this country.

3. I am told that this year the Ministry had three themes for the Vatsalya Mela- (i) Awareness on Malnutrition issues, (ii) Declining Sex ratio and (iii) Empowerment of Adolescent Girls. All these themes are extremely relevant and concern both women and children and, especially, the girl child. The declining child sex-ratio (0-6 years) brought out by Census, 2011 is a matter of great concern. The number of girls per 1000 boys has come down further to 914 from 927 in Census 2001. This ratio is an indicator of the mindset and it is worrying that the decline has taken place in 27 States and UTs across the country. Improving this ratio is not merely a question of stricter compliance with the existing laws but recognising the value to the girl child in our society.

4. Our girls and women have done us proud in classrooms, in boardrooms and on the sports field. They have broken barriers and proved their worth in almost every sphere, even in the field of rocket science, the Project-Director of the 3500 km new-generation Agni-IV missile programme happens to be a woman. Despite all this, it is indeed a shame for all of us that female foeticide is continuing in many parts of our country. This is a gross violation of human rights and violation of right to life as guaranteed under our constitution. The social bias against girl child must be fought with all the physical and moral resources at our command and a national campaign should be undertaken to counter this bias. I urge all of you in the Government or outside to lend your personal support to such a crusade.

5. Women constitute about half of our country’s population. But there are gross inequities in their development. These disparities get reflected in important development indicators such as on health, nutrition, literacy, educational attainments, skill levels and in occupational status. In addition, there are a number of socio-cultural gender-specific barriers in India that prevent women from gaining access to the goods and services. Today, we are proud that we are one of the fastest growing economies in the world. But the real development will take root only when women are included and are mainstreamed into all economic, political and social activities. In other words, women must be empowered and the children must be given an enabling environment for growth and for realizing their potential to the full.

6. Government has taken the affirmative measures to have gender perspective in planning and budgetary process. In the Union Budget of 2004-05, the Government had mandated the setting up of Gender Budgeting Cells in all Departments. Fifty six Departments have these cells as of now. In 2010-11, 28 Ministries have prepared gender budgets amounting Rs.67,750 crore. I am glad that the gender-based allocations have been made by not only social sector Ministries like Health and Family Affair or HRD but also by so-called gender-neutral Ministries like Telecom, Information Technology and Science and Technology. Having said this, I must say, we must not become complacent about our endeavours towards the gender budgeting but take it forward and combine it with gender auditing of policies and programmes of Government Departments.

7. With more than a third of its population below the age of 18, India has the largest child population in the world. However our children continue to face challenges in terms of survival, protection and development. They are our richest human resource and their development is crucial to the welfare and development of the country. Over the last few years, the Government has been focusing on the development needs of children and women through a number of schemes. Among the most significant among these schemes are Integrated Child Development Services, Swayamsidha, Rajiv Gandhi Scheme for Empowerment of Adolescent Girls- SABLA, ‘Indira Gandhi Matritva Sahyog Yojana’ and Rashtriya Mahila Kosh’s.

8. I feel that as responsible citizen of the country, each and every one of us has a duty towards building a fair, equitable and just environment for our women and children, to ensure ‘inclusive growth’ in real sense.

9. With these words, I once again congratulate the Ministry of Women and Child Development for organising such an event for furthering cause of women and children and spreading awareness amongst our citizenry.

Thank you

*********

DSM

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