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    NATIONAL ACCOUNTS STATISTICS - 2026 PUBLICATION
    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
    Flymore Aviation Expands Access to Aviation Education Through Affordable Mobile Learning App
    Rajnath to review performances of 16 defence PSUs with focus on indigenous tech, innovation
    SC dismisses SBI's plea challenging NCLAT order on PF, gratuity dues to ex-Jet Airways staffers
    Rupee rises 26 paise to close at 95.17 against US dollar
    India Has Solved Financial Access. Has It Solved Financial Confidence?
    Hyundai Capital Officially Launches Financial Services Operations in India
    Pinarayi Vijayan slams NCLT order on Subhash Chandra repayment plan
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    CBN seizes 66.80 lakh psychotropic tablets in major inter-state pharmaceutical diversion case under Operation Vajra 2.0; one arrested
    DRI seizes around 18 Kg Amphetamine and MDMA in two operations as it intensifies crackdown on synthetic drugs; Four persons arrested
    India–Chile CEPA Negotiations Advance; Commerce Secretary Shri Rajesh Agrawal Meets Chilean Vice-Minister Paula Estévez Weinstein
    Sugar prices remain firm across India despite govt measures to check rise
    Keralam MVD to introduce Aadhaar OTP verification for 60 more services from Sept 21
    Dissenting creditors alleged family-linked entities cast 61.78 pc votes that cleared Chandra's insolvency plan
    Over 2.63L appear in NEET-PG; re-test announced for candidates at 2 Jaipur centres
    Delhi Lakshmi Yojana RD maturity set for July 2029, year of next Lok Sabha polls
    India emerges as key petrol supplier to Russia as refinery attacks disrupt fuel supplies
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August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
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.

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Shri Kapil Sibal’s Press Statement on 2G issues on behalf of the Government

December 12, 2011

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Press Information Bureau

Government of India

Ministry of Communications & Information Technology

10-December-2011 13:20 IST

Shri Kapil Sibal, the Union Minister for Communications and Information Technology held a press conference here today to make a statement on 2G issues on behalf of the Government. Following is the text of his press statement.

“Since the submission by the CAG of the Performance Audit Report on “Issue of Licences and Allocation of 2G spectrum”, there have been intense debate and criticism on the issue. The debate has taken a perverse turn and the NDA, besides some individuals, is making an attempt to malign and defame Shri P Chidambaram, Home Minister.

“We, in Government, categorically reject all such allegations. Shri P Chidambaram is a valued colleague and has discharged his responsibilities without fear or favour and with absolute integrity and devotion.

“Government is concerned that the public arena is being converted into a forum for a public trial of allegations and counter-allegations, many of which have no relation to facts. Government is, therefore, of the view that the matter must be put in perspective and the incontrovertible facts brought on record.

“The Telecom Sector was opened for private participation in 1994. Two licences were granted in each of the four major cities; the third licence was granted to MTNL/BSNL; and the fourth cellular operator was granted a licence in 2001 based on auction with ‘entry fee’ as the single bidding parameter. The entry fee was about Rs.1650 crore.

“Based on a Cabinet decision dated October 31, 2003, guidelines for the Unified Access Service Licences (UASL) were issued on November 11, 2003. On ‘entry fee’, the Cabinet decision of October 31, 2003 was that:

“The recommendation of TRAI with regard to implementation of Unified Access Licensing Regime for basic and cellular services may be accepted. DoT may be authorized to finalise the details of implementation with the approval of Minister of Communications & IT in this regard including the calculation of entry fee depending upon the date of payment based on the principles given by TRAI in its recommendations.” (para 2.4.6 of the note for Cabinet)

On ‘spectrum pricing, the decision was that “…the Department of Telecom and Ministry of Finance would also finalize spectrum pricing formula, which will include incentive for efficient use of spectrum as well as disincentive for sub-optimal usages…”. (para 2.1.3 of the note for Cabinet)

“All UAS licences given subsequently under the new regime were given after charging the same entry fee of about Rs.1650 crore on a first-come-first-served basis. There was no fresh auction. The licence had provisions for allocation of a certain amount of spectrum subject to availability.

“In 2007, the Ministry of Finance, in the context of issuance of permission for usage of dual technology spectrum, raised the issue of one-time fee and stated that the rate of Rs. 1600 crore, determined as far back in 2001, had been applied for a licence given in 2007 without any indexation, let alone current valuation. In response, DoT maintained that dual technology licences were issued based on TRAI’s recommendations which had not recommended any changes in the entry fee. The discussions between Ministry of Finance (MoF) and Department of Telecommunications (DoT) took place at the official level and through exchange of correspondence. DoT maintained that the initial entry fee should remain unchanged.

“On August 28, 2007, TRAI recommended that there should be no change in the policy in allotting 2G spectrum on the ground that there should be a level playing field for new entrants. DoT strongly relied on the said recommendation and reiterated the policy of no auction; no cap on number of licences; first-come-first-served basis; same entry fee; and licence bundled with spectrum.

“During the period up to the issue of Letters of Intent on January 10, 2008, Shri A Raja, then Minister of Communications, did not hold any meeting with Shri P Chidambaram, then Finance Minister. DoT turned down the suggestion of revision of entry fee and maintained that, based on TRAI’s recommendations, DoT would continue with the same policy that had been followed since 2003. Shri A Raja also assured the Prime Minister that the policy would be implemented in a fair and transparent manner.

“Letters of Intent were issued to new entrants on January 10, 2008. It is the validity of these LoIs that is now in issue.

“It will be clear from the foregoing sequence of events that Shri P Chidambaram was in no way responsible for the issue of LoIs on January 10, 2008 or the charging of entry fee of about Rs.1650 crore. In fact, the record will show that the Ministry of Finance had no knowledge that the LoIs would be issued on January 10, 2008.

“The LoIs issued on January 10, 2008 were issued on the basis of the same policy that had been followed since 2003. Government owns the policy. In fact, the Prime Minister is on record stating: “My own view has been that as far as the telecom policy that was sought to be implemented by the UPA government is concerned, in the basic policy, there was nothing wrong. It was consistent with the advice given by the TRAI; it was consistent with the need that we all felt to maximise teledensity.”

“Even while owning the policy, Government is aware that there may have been irregularities or misconduct in the implementation of the policy. Shri A Raja had categorically assured the Prime Minister that the policy would be implemented in a fair and transparent manner. Several irregularities and deviations have since been pointed out in the implementation of the policy. All these are matters that are being investigated and will be decided in accordance with law in the appropriate courts. Government wishes to emphasise that these are not matters which can be decided in a public debate. We should let the courts decide these matters.

“As Finance Minister, it was Shri P Chidambaram who raised the issue of revision of entry fee. However, the final view taken by DoT was that it would adopt the same policy that had been followed since 2003, including charging the same entry fee of about Rs.1650 crore. It is therefore preposterous to suggest that Shri P Chidambaram had any role to play in “fixing” the entry fee for the LoIs issued on January 10, 2008. It is pertinent to point out that CBI has submitted to the Supreme Court that it had looked into the matter thoroughly, recorded the statement of the then Finance Secretary, and had come to the conclusion that no official of the Ministry of Finance, including the then Finance Minister, had committed any irregularity or misconduct. Therefore, any attempt by the opposition to foist any culpability on Shri P Chidambaram is not only irresponsible but is yet another desperate attempt to make the institution of Parliamentary democracy dysfunctional.

“The opposition in Parliament has an important role to play and the Government is willing to cooperate with the opposition to ensure that all issues of importance are discussed in accordance with the rules. The opposition must also cooperate with the Government in ensuring that government business is transacted and crucial legislations are passed.”

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