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September 1, 2026
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Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
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Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
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Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
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September 1, 2026
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Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
September 1, 2026
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GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
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Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
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September 1, 2026
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
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Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.

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Results of Ranking of States’ Exercise 2021 on support to Start-up Ecosystems declared

July 4, 2022

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Results of Ranking of States’ Exercise 2021 on support to Start-up Ecosystems declared

Gujarat and Karnataka adjudged Best Performers among states; Meghalaya is the Best Performers among UTs and North-Eastern States

Kerala, Maharashtra, Orissa and Telangana are the Top Performers among States; J&K is the Top Performer among UTs and NE States

With ONDC, instead of three $100 billion or $1 trillion firms, there will be a thousand $1 billion companies: Shri Goyal

Shri Goyal asks more start-ups to come on GeM platform; Says there is a great opportunity to democratize the start-up ecosystem

National Start-up Report and State Specific reports released

The results of the third edition of Ranking of States on Support to Startup Ecosystems were released by Shri Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles today at The Ashok Hotel, New Delhi. For the purposes of the Ranking, States and Union Territories are classified into 5 Categories, viz. Best Performers, Top Performers, Leaders, Aspiring Leaders and Emerging Start-up Ecosystems.

Gujarat and Karnataka emerged as the Best Performers in a category of States which included NCT of Delhi. Meghalaya won the top honour among UTs and North-eastern (NE) States. While Kerala, Maharashtra, Orissa and Telangana got the Top Performers award among states, Jammu & Kashmir emerged as the Top Performer among UTs and NE states.

Assam, Punjab, Tamil Nādu, Uttarakhand and Uttar Pradesh were adjudged the winners in the Leaders category among states; Andaman & Nicobar Islands, Arunachal Pradesh and Goa bagged the Leaders honour among the UTs and NE states. Chhattisgarh, Delhi, Madhya Pradesh and Rajasthan were declared as Aspiring Leaders among the States. Chandigarh, Dadra and Nagar Haveli & Daman and Diu, Himachal Pradesh, Manipur, Nagaland, Puducherry and Tripura were the Aspiring Leaders from the UTs and NE states. Andhra Pradesh and Bihar from States category and Mizoram and Ladakh from the UTs/NE States were clubbed under the Emerging Start-up Ecosystem.

Speaking after declaring the awards, Shri Piyush Goyal said that ONDC (Open Network for Digital Commerce) had the power to spawn thousands of start-ups. “The huge success that UPI has been in India, which has democratised the payment system in India. In the next 5 year, we will have ONDC democratize the e-commerce across India. So much so that we will have a few thousand start-ups may be more and a few hundred unicorns. Rather than three companies being 100 billion or one trillion size, you will have a thousand companies each of a billion dollar. That is what ONDC has the power to do,” the Minister said.

Emphasizing that Indian ecosystem could become the best in the work, Shri Goyal suggested that States could align with neighbouring ones so as to learn from each other. He also asked the department to get more start-ups on the Government E-Marketplace (GeM), saying that now even the Services had been brought under GeM.

Shri Goyal suggested that there was a need to focus on developing start-up ecosystem in districts with help of all the start-up related schemes by the central and the state government. He emphasized upon the need to onboard and register more start-ups. He added that there was a great opportunity to democratize the start-up ecosystem in the same way as the Indian Premier League (IPL) democratized the cricket arena.

The minister appreciated the new mentorship program and said that it would help those with ideas to get support and help them fructify their ideas.

Shri Anurag Jain, Secretary, DPIIT said that a number of initiatives of the government including JAM (Jandhan, Aadhar, Mobile), Digital India, Gatishakti, Ease of Doing Business were driving the start-up ecosystem. “If the Start-up system has to grow further, the biggest role has to be played by States. We can play a facilitative role,” he added.

Shri Manoj Kohli, Member, National Start-up Advisory Council the new coaching/mentoring programme MAARG (Mentorship, Advisory, Assistance, Resilience and Growth) would focus on creating profitable start-ups, improving their corporate governance, scaling up their operations, addressing funding gaps and building their brand. This, he said would improve their success rate.

The call for mentors for MAARG portal was also announced during the event. The portal is developed with the idea to develop a tool for start-ups in India that can be accessed from every corner of the country to request and connect with a mentor.

Smt. Shruti Singh, Joint Secretary, DPIIT said that the start-up ecosystem has come a long way with States playing a big role. “Today, States have vibrant ecosystem with 27 states having their portals in regional languages,” she added.

The Department for Promotion of Industry and Internal Trade (DPIIT) has been conducting the States’ Start-up Ranking Exercise since 2018 to facilitate the ease of building a start-up and doing business across the country. The exercise has grown in its impact over the last three editions, with 31 participating states and union territories this edition, the highest till date. The State Start-up Ranking Exercise aims to support states and union territories in developing their start-up ecosystem and learn from the best practices in each state and union territory.

The consideration period for the third edition of the States Startup Ranking Exercise was 1st October 2019 to 31st July 2021. The documentary evidence submitted was evaluated over a 6-month duration. The evaluation committee across 14 meetings assessed each document and was composed of representatives from 19 government departments and 29 non-government startup ecosystem stakeholders, for fair and transparent evaluation.

The participants were evaluated across 7 broad Reform Areas consisting of 26 Action Points ranging from Institutional Support, Fostering Innovation and Entrepreneurship, Access to Market, Incubation support, Funding Support, Mentorship Support to Capacity Building of Enablers. The exercise plays a crucial role in easing the business environment for start-ups in the country.

The States Startup Ranking 2021 highlighted the support being extended by over 30 states and union territories through startup policies to the ecosystem. There were only 4 states with startup policies prior to 2016. The state startup teams have been extending support across mentorship, incubation and funding. Moreover, feedback was gathered from more than 7,000 beneficiaries through surveys made in 13 different languages to grasp the real situation at the execution level.

The States and Union Territories have been placed alphabetically within each category. Additionally, in each reform area, the states who are recognized as Leaders for their exceptional work in the particular reform area are also shared.

The felicitation ceremony was accompanied by the release of the National Report which highlights the vision, framework, evolution across the years, methodology and implementation, and the way ahead for the States` Startup Ranking. A State Specific Report for each of the 31 participating States and Union Territories has also been released, containing an extensive analysis of respective ecosystem, which highlights strengths and priority areas for future.

The National Report and Specific Reports for all participating States and Union Territories launched during the session can be downloaded from the Startup India Portal. The complete results are attached at Annexure 1.

*****

Annexure 1

States Startup Ranking Results 2021
(All results in alphabetical order.)

Category A

Category

State

Best Performer

Gujarat

Karnataka

Top Performers

Kerala

Maharashtra

Odisha

Telangana

Leaders

Assam

Punjab

Tamil Nadu

Uttarakhand

Uttar Pradesh

Aspiring Leaders

Chhattisgarh

Delhi

Madhya Pradesh

Rajasthan

Emerging Startup Ecosystems

Andhra Pradesh

Bihar

This category has all States except those in Category ‘B’. This includes states with a population less than 1 crore.

Category B

Category

State

Best Performer

Meghalaya

Top Performer

Jammu and Kashmir

Leader

Andaman and Nicobar Islands

Arunachal Pradesh

Goa

Aspiring Leader

Chandigarh

Dadra and Nagar Haveli & Daman and Diu

Himachal Pradesh

Manipur

Nagaland

Puducherry

Tripura

Emerging Startup Ecosystems

Mizoram

Ladakh

This category has all Union Territories except NCT of Delhi and all North-Eastern states except Assam.

Leaders across 7 Reform Areas

The top scoring States and Union Territories across each reform area have been recognised as a leader.

S. No

Pillar

Leader Names

1.

Institutional Champion

  • Gujarat
  • Karnataka
  • Kerala
  • Maharashtra
  • Odisha
  • Telangana
  • Uttarakhand
  • Tamil Nadu
  • Andaman and Nicobar Islands

2.

Innovative Leader

  • Karnataka
  • Maharashtra
  • Telangana
  • Jammu and Kashmir

3.

Procurement Forerunner

  • Gujarat
  • Karnataka
  • Kerala
  • Odisha
  • Himachal Pradesh
  • Meghalaya

4.

Incubation Hub

  • Gujarat
  • Telangana
  • Jammu and Kashmir

5.

Funding Leader

  • Gujarat
  • Karnataka

6.

Mentorship Champion

  • Assam
  • Meghalaya

7.

Capacity Building Pioneer

  • Gujarat
  • Karnataka
  • Kerala
  • Maharashtra
  • Odisha
  • Telangana
  • Uttarakhand
  • Meghalaya

 *****

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