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    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
    Current account deficit widens to USD 6.2 bn in Jun: RBI data
    Concessional swap facility attracts USD 56.85 bn forex inflows: RBI
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    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
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    CBI ARRESTS CGST SUPERINTENDENT IN BRIBERY CASE
    The cumulative exports (merchandise & services) during April-July 2026-27 is estimated at US$ 316.42 Billion, as compared to US$ 279.63 Billion in Apr...
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August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
August 14, 2026
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Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
August 14, 2026
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International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
August 14, 2026
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Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
August 14, 2026
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International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
August 14, 2026
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Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
August 13, 2026
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International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
August 13, 2026
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Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
August 13, 2026
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Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
August 13, 2026
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GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
August 13, 2026
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Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
August 13, 2026
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Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
August 13, 2026
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Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
August 13, 2026
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Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.

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UNEMPLOYMENT RATES FALL FROM 5.8 PER CENT IN 2018-19 TO 4.2 PER CENT IN 2020-21

January 31, 2023

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UNEMPLOYMENT RATES FALL FROM 5.8 PER CENT IN 2018-19 TO 4.2 PER CENT IN 2020-21

RISE IN RURAL FEMALE LABOUR FORCE PARTICIPATION RATE FROM 19.7 % IN 2018-19 TO 27.7% IN 2020-21

NEED TO BROADEN HORIZON OF MEASURING WORK FOR WOMEN

28.5 CRORE UNORGANIZED WORKERS REGISTERED ON E-SHRAM PORTAL

THE SHARE OF SELF-EMPLOYED INCREASED AND THAT OF REGULAR WAGE/SALARIED WORKERS DECLINED IN 2020-21 VIS-À-VIS 2019-20

NET AVERAGE MONTHLY SUBSCRIBERS ADDED UNDER EPFO INCREASED FROM 8.8 LAKH IN APRIL-NOVEMBER 2021 TO 13.2 LAKH IN APRIL-NOVEMBER 2022

The Economic Survey 2022-23 tabled  by the Minister of Finance and Corporate Affairs, Smt Nirmala Sitharaman in Parliament today states that while the pandemic impacted both labour markets, and employment ratios, now with sustained effort in the last few years, coupled with quick response after the pandemic, and the world’s largest vaccination drive being undertaken in India, labour markets have recovered beyond pre-Covid levels, in both urban and rural areas, as observed in supply-side and demand-side employment data.

PROGRESSIVE LABOUR REFORM MEASURES

In 2019 and 2020, 29 Central Labour Laws were amalgamated, rationalised, and simplified into four Labour Codes, viz., the Code on Wages, 2019 (August 2019), the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health & Working Conditions Code, 2020 (September 2020).

According to the survey, rules made under the Codes have been entrusted to Central Government, State Government and at the appropriate level. As of 13 December 2022, 31 States also have pre published the draft rules under the Code on Wages, 28 States under Industrial Relations Code, 28 States under Code on Social Security, and 26 States under Occupational Safety Health and Working Conditions Code.

IMPROVING EMPLOYMENT TRENDS

Labour markets have recovered beyond pre-Covid levels, in both urban and rural areas, with unemployment rates falling from 5.8 per cent in 2018-19 to 4.2 per cent in 2020-21.

As per Usual Status in Periodic Labour Force Survey(PLFS), the Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR) and unemployment rate (UR) in PLFS 2020-21(July-June) have improved for both males and females in both rural and urban areas compared to PLFS 2019-20 and 2018-19.

The Labour Force Participation Rate for males has gone up to 57.5% in 2020-21, as compared to 55.6% in 2018-19. Female Labour Force Participation Rate has gone up to 25.1% in 2020-21 from 18.6% in 2018-19. There is a notable rise in Rural Female Labour Force Participation Rate from 19.7 % in 2018-19 to 27.7% in 2020-21.

According to broad status in employment, the share of self-employed increased and that of regular wage/salaried workers declined in 2020-21 vis-à-vis 2019-20, driven by trend in both rural and urban areas. The share of casual labour declined slightly, driven by rural areas. As per the Economic Survey, based on the industry of work, the share of workers engaged in agriculture rose marginally from 45.6 per cent in 2019-20 to 46.5 per cent in 2020-21, the share of manufacturing declined faintly from 11.2 per cent to 10.9 per cent, the share of construction increased from 11.6 per cent to 12.1 per cent, and share of trade, hotel & restaurants declined from 13.2 per cent to 12.2 per cent, over the same period.

FEMALE LABOUR FORCE PARTICIPATION RATE: MEASUREMENT ISSUES

The Economic Survey highlights measurement issues in calculating Female Labour Force Participation Rate. The common narrative of Indian women’s low LFPR misses the reality of working females integral to the economy of the household and the country. Measurement of employment through the survey design and content can make a significant difference to final LFPR estimates, and this matters more for measuring female LFPR than male LFPR.

The survey states that there is a need to broaden the horizon of measuring work, which constitutes the whole universe of productive activities alongside employment, especially for women. According to the latest ILO standards, limiting productive work to labour force participation is narrow and only measures work as a market product. It does not include the value of women’s unpaid domestic work, which can be seen as expenditure-saving work such as collecting firewood, cooking, tutoring children, etc, and contributes significantly to the household’s standard of living.

The Survey recommends that a wholesome measurement of “work” may require improved quantification through redesigned surveys. That said, there is further significant scope to nullify the gender-based disadvantages to enable free choice of women to join the labour market. Ecosystem services, including affordable creches, career counselling/handholding, lodging and transportation, etc., can further help unlock the gender dividend for inclusive and broad-based growth.

QUARTERLY PLFS FOR URBAN AREAS

 The PLFS conducted by the MoSPI at a quarterly level for urban areas is available till July-September 2022. The data shows an improvement in all the key labour market indicators in the quarter ending September 2022 both sequentially and over the last year, as per the Current Weekly Status. The labour participation rate increased to 47.9 per cent in July-September 2022 from 46.9 per cent a year ago, while the worker-population ratio strengthened from 42.3 per cent to 44.5 per cent in the same period.This trend highlights that the labour markets have recovered from the Covid impact.

DEMAND SIDE OF EMPLOYMENT QUARTERLY EMPLOYMENT SURVEY (QES)

 The QES, conducted by the Labour Bureau, covers establishments with ten or more workers in nine major sectors viz. manufacturing, construction, trade, transport, education, health, accommodation & restaurants, IT/BPOs, and financial services. So far, results of four rounds of the QES have been released, covering four quarters of FY22. The estimated total employment in the nine selected sectors according to the fourth round of QES (January to March 2022) stood at 3.2 crore, which is nearly ten lakh higher than the estimated employment from the first round of QES (April-June 2021). The increase in estimates of workers from Q1FY22 to Q4FY22 was driven by rising employment in sectors such as IT/BPO (by 17.6 lakh), health (7.8 lakh), and education (1.7 lakh), due to rising digitisation and resurgence of services sector economy. Regarding terms of employment, regular employees constituted the majority of workers across sectors, with a share of 86.4 per cent in the total workforce in Q4FY22. Further, out of the total employed in the fourth round of QES, 98.0 per cent are employees while 1.9 per cent are self-employed. Gender-wise, 31.8 per cent of the total estimated employed are women and 68.2 per cent are men. In the sectors covered, manufacturing employs the highest number of workers.

ANNUAL SURVEY OF INDUSTRIES (ASI) 2019-20

As per the latest ASI FY20, employment in the organised manufacturing sector has maintained a steady upward trend over time, with the employment per factory increasing gradually. In terms of share of employment (total persons engaged), the food products industry (11.1 per cent) remained the largest employer, followed by wearing apparel (7.6 per cent), basic metals (7.3 per cent), and motor vehicles, trailers, and semi-trailers (6.5 per cent). State-wise, Tamil Nadu had the largest number of persons engaged in factories (26.6 lakh), followed by Gujarat (20.7 lakh), Maharashtra (20.4 lakh), Uttar Pradesh (11.3 lakh), and Karnataka (10.8 lakh).

Over time, there is a visible trend towards bigger factories employing more than 100 workers, their numbers rising by 12.7 per cent from FY17 to FY20, compared to a broadly constant number of smaller factories. Between FY17 and FY20, total persons engaged in larger factories rose by 13.7 per cent, compared to 4.6 per cent in smaller factories. Resultantly, the share of larger factories in the total number of factories has increased from 18 per cent in FY17 to 19.8 per cent in FY20, and their share in total persons engaged shows a similar expansion from 75.8 per cent in FY17 to 77.3 per cent in FY20. Thus, in terms of total persons engaged, employment has been rising in larger factories (employing more than 100 workers) than in smaller ones, suggesting scaling up of manufacturing units.

FORMAL EMPLOYMENT

Employment generation coupled with improving employability is the priority of the Government. The net addition in EPF subscriptions during FY22 was 58.7 per cent higher than in FY21 and 55.7 per cent higher than that in the pre-pandemic year 2019. In FY23, net average monthly subscribers added under EPFO increased from 8.8 lakh in April-November 2021 to 13.2 lakh in April-November 2022. The swift rebound of formal sector payroll addition can be attributed to the Aatmanirbhar Bharat Rojgar Yojana (ABRY), launched in October 2020 to boost the economy, increase the employment generation in post Covid-19 recovery phase, and to incentivise creation of new employment along with social security benefits and restoration of employment lost during the pandemic.

E-SHRAM PORTAL

 Ministry of Labour and Employment (MoLE) has developed E-Shram portal for creating a National database of unorganised workers, which is verified with Aadhaar. It captures details of workers like name, occupation, address, occupation type, educational qualification, and skill types etc., for the optimum realisation of their employability and extend the benefits of the social security schemes to them. It is the first-ever national database of unorganised workers, including migrant workers, construction workers, gig and platform workers, etc. Currently, E-Shram portal has been linked to NCS portal and ASEEM portal for seamless facilitation of services.

As on 31 December 2022, total over 28.5 crore unorganised workers have been registered on E-Shram portal. Female registrations stood at 52.8 per cent of the total and 61.7 per cent of total registrations belonged to the age group 18-40 years. State-wise, Uttar Pradesh (29.1 per cent), Bihar (10.0 per cent), and West Bengal (9.0 per cent) accounted for nearly half of total registrations. Agriculture sector workers contributed to 52.4 per cent of the total registrations, followed by domestic and household workers (9.8 per cent), and construction workers (9.1 per cent).

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