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October 16, 2026
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Private capital mobilisation should use competitive financing, guarantees and risk mitigation to expand productive employment and productivity.
Private capital mobilisation is treated as essential to employment generation and productivity growth. Private enterprises, MSMEs and startups should remain central to job creation, with financing assessed by employment and productivity outcomes rather than volume. Guarantees, risk-mitigation instruments, local-currency financing and lower transaction costs are identified as means to expand affordable and predictable access to capital. Methodologies underlying governance indicators should be transparent, objective, evidence-based and responsive to diverse development experiences.
October 16, 2026
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Narcotics smuggling through misdeclared air cargo triggered seizure, arrest, and ongoing investigation into concealed hydroponic weed imports.
A Bangkok-origin air-cargo consignment declared as PU Tubes was examined on suspicion of mis-declaration. Plastic spools were found to contain concealed cavities holding polythene-wrapped packets of compacted green substance, preliminarily identified as suspected ganja/marijuana and described as hydroponic weed. The concealed substance, packaging and concealment material were seized under the NDPS Act, 1985. One person was arrested, and follow-up searches produced leads for continuing investigation.
October 16, 2026
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Unaccompanied baggage gold smuggling: concealed hardware and insider coordination triggered interception, seizure, and arrests under customs law.
Foreign-origin gold smuggling through the unaccompanied baggage channel involved concealment of gold within hardware items and coordinated retrieval through warehouse personnel and intermediaries. Intelligence-led interception resulted in recovery and seizure of foreign-origin gold concealed in a floor spring, metal locks, a grease gun and a door closer. The arrangement used a trolley secured by a pre-decided number-lock combination, with a warehouse staff member, mediator and receiver allegedly involved in delivery of the concealed gold.
October 16, 2026
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Opium cultivation licensing grievance redressal advances through public hearings, administrative remedies, policy recording, and a planned cultivator helpline.
Opium cultivation licensing grievances were addressed through a public hearing where cultivators raised irrigation, climatic, single-plot licensing, and village-wise allocation concerns. Participants were informed of available legal provisions and administrative remedies. Requests for more licences and larger cultivation plots were considered, with policy matters recorded. A helpline is intended to assist cultivators during the 2026-27 licensing operation.
October 16, 2026
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Illicit cannabis cultivation: crop destruction followed legal formalities, while investigation continues in a remote wildlife sanctuary.
Illicit cannabis cultivation was located by a joint DRI and CBN team across five stretches of remote, densely forested wildlife-sanctuary land near village Jamniapani, Shirpur, District Dhule, Maharashtra. The cultivation covered 2.87 hectares. Following requisite legal formalities, the cannabis crop was destroyed using a rotavator in the presence of Police and Forest Department officials. Investigation remains in progress.
October 15, 2026
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Merchandise and services trade estimates show export growth, import expansion, and a wider combined trade deficit over the reporting period.
Combined trade estimates for April-September 2026-27 show exports of US$ 476.20 billion and imports of US$ 551.13 billion, resulting in a trade deficit of US$ 74.93 billion. Merchandise exports rose to US$ 259.89 billion, while merchandise imports reached US$ 437.53 billion. Estimated services exports were US$ 216.31 billion and services imports were US$ 113.60 billion, producing a services trade surplus of US$ 102.71 billion. September services figures are estimates, and specified earlier-period data were revised using quarterly balance-of-payments data.
October 15, 2026
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Emerging technology skills and resilient supply chains are positioned as foundations for investment competitiveness and inclusive economic growth.
Ministerial policy priorities for India's trade, investment and technology agenda emphasise artificial intelligence, cybersecurity, technology adoption, manufacturing investment and lifelong skill development. Investment competitiveness is linked to political stability, resilient supply chains, and fair and transparent trading practices. The first tranche of a bilateral trade agreement with the United States has been finalised, while final contours and legal drafting continue before operationalisation.
October 14, 2026
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Majority stake acquisition in the jewellery sector receives competition clearance for GRT Jewellers' purchase of Tribhovandas Bhimji Zaveri.
Competition Commission of India approved GRT Jewellers (India) Private Limited's proposed acquisition of a majority stake in Tribhovandas Bhimji Zaveri Limited. The transaction concerns entities operating in the Indian gems and jewellery market, including a private limited acquirer and a publicly listed target engaged in manufacturing and sale of gems and jewellery.
October 14, 2026
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Minority shareholding acquisition in mother and baby healthcare receives competition clearance for a private equity-backed investment.
Competition Commission of India clearance authorises NuageLux BidCo S.a r.l. to acquire approximately 23% of the fully diluted shareholding in Kids Clinic India Ltd. The transaction constitutes an acquisition of a minority equity interest in a healthcare provider operating under the Cloudnine brand. NuageLux BidCo is a Luxembourg-incorporated private limited special purpose vehicle, ultimately controlled by Permira Holdings Ltd.
October 14, 2026
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Competition clearance permits development finance and alternative investment funds to acquire equity in an agricultural commodities trading business.
Competition clearance has been granted for the acquisition of certain equity shareholding in FarMart Service Private Limited by Impact Fund Denmark, Belgian Investment Company for Developing Countries SA/NV, and Orios Fund IIIa. FarMart conducts business-to-business trading, purchasing and selling of agricultural products and commodities in India and international markets. The acquiring investors include development finance institutions and a sub-fund of a SEBI-registered Category II alternative investment fund.
October 14, 2026
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Strategic bank restructuring requires independent valuation, qualified bidding, regulatory fit-and-proper review, and a compliance roadmap before ownership transfer.
Strategic restructuring of IDBI Bank Ltd. involves the sale of 60.72% of its shareholding to an approved Strategic Buyer, comprising holdings of the Government of India and LIC. Qualified bids were evaluated against a benchmark derived from independent Market Multiple and Asset Valuation methods, with volatile stock-market prices disregarded. Further steps require fit-and-proper assessment, a regulatory compliance roadmap, withdrawal of government and LIC board nominees, and management or sale of their residual shareholdings under applicable procedures.
October 14, 2026
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Strategic bank divestment requires fit and proper screening, independent valuation, competitive bids, and continuing regulatory compliance.
Strategic restructuring of IDBI Bank Ltd. has been approved through sale of a 60.72% equity stake to a strategic buyer, with residual holdings retained by the Government of India and LIC. Bidder participation required fit-and-proper and security clearances. After initial bids fell below the reserve price, best offers were assessed against independent enterprise valuations based on the Market Multiple Method and Asset Valuation Method. The successful bid exceeded the benchmark and both fair-value estimates. Completion remains subject to regulatory credentials and a compliance roadmap.
October 14, 2026
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Illicit cannabis cultivation enforcement combines source destruction, technology-assisted identification, and alternative crop development to disrupt narcotics supply chains.
Operation Parivartan uses ground surveys and drone technology to identify and destroy illicit cannabis cultivation at source, with Forest and Police Department support in difficult terrain. It also incorporates public dialogue and alternative crop development under the NDPS Policy 2012. CBN, as the apex drug law-enforcement and regulatory agency under the Department of Revenue, is responsible for identifying and destroying illicit cannabis and opium cultivation and continues such operations nationwide.
October 14, 2026
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Import prohibition on Pakistani-origin goods: third-country routing and fabricated origin records triggered customs enforcement and arrests.
India's prohibition on direct or indirect import or transit of Pakistani-origin goods is alleged to have been circumvented through third-country routing and false origin documentation. Operation Deep Manifest identified rock salt imports routed through Colombo with purported UAE-issued certificates of origin and invoices. Preliminary investigation linked importers to an alleged transnational network using fabricated trade records and false declarations of origin. Containers, bank-held sales proceeds and Pakistan-origin dry dates were seized, and four persons were arrested under the Customs Act, 1962.
October 14, 2026
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International financial cooperation will guide multilateral and bilateral discussions on economic outlook, reform priorities, investment opportunities, and infrastructure financing.
India's Finance Minister will participate in multilateral and bilateral economic discussions addressing economic developments, financial-sector issues, the global economic outlook, development priorities, international financial cooperation, and reform of the international financial architecture. Related engagements will examine trade resilience, investment opportunities, and mobilisation of private capital for urban and water infrastructure, while highlighting India's economic performance and reform priorities.
October 14, 2026
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GST annual return filing requires prior GSTR-1 and GSTR-3B filing before access to annual return forms.
GSTR-9/9C annual return filing for FY 2025-26 is enabled on the GST portal from 8 October 2026. Access to the annual-return filing tile requires filing all GSTR-1 and GSTR-3B returns for the relevant financial year. Taxpayers requiring filing assistance may submit a support ticket through the GSTN helpdesk.
October 13, 2026
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Automated GST registration and refunds streamline compliance through risk-based processing, electronic verification, and limited officer intervention.
GST refund administration is proposed to use phased risk-based system processing, with acknowledgement or deficiency action within ten days, deemed acknowledgement on inaction, automated provisional refund for eligible low-risk zero-rated and inverted-duty claims, and fully automated refund of excess electronic cash-ledger balances. Validation failures require correction and fresh filing or referral for officer scrutiny, while final scrutiny remains applicable in specified cases. Applicants must file all due returns and submit supporting material electronically. Delayed-refund interest applies beyond the statutory period, and eligible input-service and capital-goods credit is proposed to be included in prescribed refund computations.
October 13, 2026
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Integrated infrastructure planning under PM GatiShakti uses geospatial data and coordinated appraisal to strengthen multimodal connectivity and logistics efficiency.
PM GatiShakti National Master Plan uses an integrated geospatial planning framework to coordinate infrastructure, economic and social-sector development. The framework supports multimodal connectivity, intermodal links, last-mile access, project appraisal and synchronised implementation. It has expanded to district-level planning for local services and is supported by public-access, knowledge-sharing, decentralised data-management and monitoring systems. The Integrated Transport and Logistics Authority is intended to strengthen transport and logistics research, planning, appraisal, monitoring and impact assessment.
October 13, 2026
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Public asset e-auctions enable transparent land monetisation through registration, due diligence, and competitive online bidding.
NLMC's first end-to-end e-auction monetised surplus RINL land through transparent, competitive online bidding, selling 150 plots at bids above the aggregate reserve price. The process is coordinated with the asset owner and includes bidder outreach, registration, documentation, Earnest Money Deposit requirements, and online participation. A final phase for the remaining parcels requires timely registration, review of reserve prices, eligibility conditions and participation requirements, due diligence, and completion of prescribed formalities.
October 13, 2026
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Bribery allegations involving tax enforcement powers led to arrest during an alleged acceptance of undue advantage.
Bribery allegations concern a CGST Superintendent accused of demanding a monthly undue advantage from a scrap-business proprietor in exchange for not intercepting scrap vehicles or obstructing the business. A criminal case was registered, and a trap operation resulted in the Superintendent being apprehended while allegedly accepting the demanded undue advantage. Searches recovered cash and immovable-property documents, and the investigation remains ongoing.

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Corp. Laws, SEBI & IBC

ECONOMIC SURVEY HIGHLIGHTS AGILE AND MULTI-PRONGED APPROACH ADOPTED BY INDIA TO COMBAT COVID-19

January 31, 2022

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ECONOMIC SURVEY HIGHLIGHTS AGILE AND MULTI-PRONGED APPROACH ADOPTED BY INDIA TO COMBAT COVID-19

COVID VACCINES EMERGED BEST SHIELD AGAINST THE DISEASE TO SAVE LIVES AND SUSTAINED LIVELIHOOD, NOTES ECONOMIC SURVEY

“VACCINATION SHOULD BE TREATED AS A MACRO-ECONOMIC INDICATOR”

HEALTH EXPENDITURE SEES RISE OF NEARLY 73%, FROM ₹ 2.73 LAKH CRORE IN 2019-20 (PRE-COVID 19) TO ₹ 4.72 LAKH CRORE IN 2021-22 (BE)

CENTRAL AND STATE GOVERNMENTS’ BUDGETED EXPENDITURE ON HEALTH SECTOR REACHES 2.1% OF GDP IN 2021-22, AGAINST 1.3% IN 2019-20

NFHS-5 SHOWS ENCOURAGING OUTCOMES OF GOVERNMENT PROGRAMMES IN HEALTH AND OTHER SOCIAL SECTORS

 

During the last two years, as India along with rest of the world faced the onslaught of the pandemic, Union Government’s key focus remained on providing a safety-net to the vulnerable segments of society as well as providing a coherent response to the health consequences of the pandemic, says the Economic Survey. The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman tabled the Economic Survey 2021-22 in Parliament today.

The Economic Survey also highlights the ‘agile framework’ of policy noting that in “an uncertain environment, the agile framework responds by a assessing outcomes in short alternations and constantly adjusting incrementally” as “the flexibility of agile improves responsiveness and aids evolution, but it does not attempt to predict future outcomes”. The response of the Union Government to the global COVID19 pandemic has been agile, strategic and pre-emptive. 

India’s Health Response to COVID-19:

The Economic Survey states that India, the country with the second largest population and a large elderly population, adopted a multipronged approach to COVID19 response and management. These included:

  1. Restrictions/partial lockdowns
  2. Building capacity in health infrastructure
  3. COVID-19 appropriate behavior, testing, tracing, treatment, and
  4. Vaccination drive

Measures were taken to break the chain of transmission in terms of containment and buffer zones; perimeter control; contact tracing; isolation and testing of suspect cases and high risk contacts, and creation of quarantine facilities. Preventive strategy changed in response to the changing situation based on real-time data and evidence. Testing facility in the country has increased exponentially.  Tests for COVID-19 were made free in all Government Centers.  Rapid Antigen Test Kits for faster screening were introduced.  Manufacturing capacity of N-95 masks, ventilators, personal protective equipment kits, sanitizers were ramped up in a mission mode.  The Survey also highlights the massive infrastructure created for isolation beds, dedicated intensive care unit beds, and supply of medical oxygen. To meet the exponential rise in medical oxygen demand during second COVID surge, the Government engaged even Railways, Air force, Navy and Industry to work with ‘whole of government’ approach.

In fight against the corona virus, COVID vaccines emerged as the best shield against the disease to save lives and sustained livelihood.

COVID Vaccination Strategy:

The Economic Survey highlights that vaccination is not merely a health response but is critical for opening up the economy, particularly contact-intensive services.  Therefore, it should be treated for now as a macro-economic indicator. 

“The Liberalized Pricing and Accelerated, National COVID-19 Vaccination Strategy”, was implemented from 1st May to 20th June, 2021, observes the Survey.  From 3rd January, 2022, COVID-19 vaccine coverage has been extended to age group of 15-18 years.  Further, from 10th January, 2022, Health Care Workers, Frontline Workers and persons aged more than 60 years with co-morbidities have been made eligible to receive a precaution dose of COVID-19 vaccine, on completion of 9 months or 39 weeks from the date of administration of second dose.

The Economic Survey notes that Indian National COVID Vaccination Program, one of the world’s largest vaccination programs, has not only supported production of COVID-vaccines domestically, but it has also ensured free vaccines to its population, world’s second largest population.  Union Budget for 2021-22 allocated ₹ 35,000 crore for procurement of vaccines under the nationwide COVID-19 Vaccination Program.  From 16th January, 2021 till 16th January, 2022, a total of 156.76 crore doses of COVID-19 vaccines have been administered, 90.75 crore first dose and 65.58 crore second dose.  Vaccination at this scale and speed has enabled swift revival of livelihoods, the Survey underscores.

The Survey highlights that India is among the few countries producing COVID vaccines.  The country started with two made in India COVID vaccines.  In line with India’s vision of Atmanirbhar Bharat, India’s first domestic COVID-19 vaccine, Whole Virion Inactivated Corona Virus Vaccine (COVAXIN), was developed and manufactured by Bharat Biotech International Limited in collaboration with National Institute of Virology of Indian Counsel of Medical Research (ICMR).  The ICMR funded the clinical trials of COVISHIELD vaccine developed in collaboration with Oxford-AstraZeneca.  COVISHIELD and COVAXIN have been widely used vaccines in India.  Every month about 250-275 million doses of COVISHIELD and 50-60 million doses of COVAXIN have been produced.

Making it a technology driven vaccination program, Arogya Setu mobile app was launched to enable people to assess themselves the risk of their catching the COVID-19 infection. Co-WIN 2.0 (along with e-VIN), a unique digital platform, supported the real time vaccination activities viz. registration for vaccine, tracking COVID-19 vaccine status of every beneficiary, stocks of vaccine, storage, actual vaccination process, and generation of digital certificates, observes the Economic Survey.

Health Sector Expenditure:

The Economic Survey mentions that although the pandemic has affected almost all social services, yet the health sector was the worst hit.  Expenditure on health sector increased from ₹ 2.73 lakh crore in 2019-20 (pre-COVID -19) to Rs, 4.72 lakh crore in 2021-22 (BE), an increase of nearly 73%. 

The Survey further states that in addition to the National Health Mission, Union Budget 2021-22, announced Ayushman Bharat Health Infrastructure Mission, a new Centrally Sponsored Scheme, with an outlay of about ₹ 64,180 crore in next five years to develop capacities of primary, secondary and tertiary Health Care Systems, strengthen existing national institutions, and create new institutions to cater to detection and cure of new and emerging diseases.  Besides, Union Budget 2021-22 provided an outlay of ₹ 35,000 crore towards COVID-19 vaccination.

The National Health Policy, 2017 envisaged to increase Government’s health expenditure to 2.5% of GDP by 2025, reiterates the Economic Survey.  It says that in keeping with this objective, Central and State Government’s Budgeted expenditure on health sector reached 2.1% of GDP in 2021-22, against 1.3% in 2019-20.

National Family Health Survey-5 (NFHS-5):

As per latest the NFHS-5, social indicators such as Total Fertility Rate (TFR), Sex Ratio and health outcome indicators viz. Infant Mortality Rate, under-Five mortality rate, institutional birth rate have improved over year 2015-16, observes the Economic Survey.  According the Survey, NFHS-5 shows that not only services are reaching to the public, but the intended outcomes have also improved.

All child nutrition indicators have also improved at the all India level. Under-Five Mortality Rate (U5MR) has declined from 49.7 in 2015-16 to 41.9 in 2019-21.  IMR has declined from 40.7 per 1000 live births in 2015-16 to 35.2 per 1000 live births in 2019-21.  Stunting has declined from 38% in 2015-16 to 36% in 2019-21.  Wasting has also declined from 21% in 2015-16 to 19% in 2019-21.  And, underweight declined from 36% in 2015-16 to 32% in 2019-21. 

Latest NFHS-5 shows that TFR, an average number of children per women, has further come down to 2.0 in 2019-21 from 2.2 in 2015-16.  The Survey highlights that the TFR has even come down below the replacement level of fertility (2.1 children per women) in the country.

The Sex Ratio, number of females per 1000 males, in the total population has risen from 991 females in 2015-16 (NFHS-4) to 1020 in 2019-20 (NFHS-5).  More importantly, the sex ratio and birth female children per 1000 male children born in the last five years, has grown from 919 in 2015-16 to 929 in 2019-21. 

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