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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.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
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.
August 31, 2026
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Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.

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GOVERNMENT COMMITTED TO ENSURE QUALITY EDUCATION FOR ALL

January 31, 2023

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GOVERNMENT COMMITTED TO ENSURE QUALITY EDUCATION FOR ALL

SCHOOL ENROLLMENT STANDS AT 26.5 CRORE CHILDREN IN FY22

19.4 LAKH ADDITIONAL SCHOOL CHILDREN ENROLLED IN PRIMARY TO HIGHER SECONDARY LEVEL IN FY 22

SCHOOL DROPOUT RATES WITNESS A STEADY DECLINE IN RECENT YEARS FOR BOTH GIRLS AND BOYS AT ALL LEVELS

A 3.3 % INCREASE IN THE ENROLMENT OF CHILDREN WITH SPECIAL NEEDS (CWSN) IN FY22 i.e 22.7 LAKH AS COMPARED TO 21.9 LAKH IN FY21

PUPIL-TEACHER RATIO IMPROVES AT ALL LEVELS CONTINUOUSLY FROM FY13 TO FY22

OVER 14,500 SCHOOLS TO BE DEVELOPED AS EXEMPLARY SCHOOLS UNDER PM SHRI, MORE THAN 20 LAKH STUDENTS TO BENEFIT

NUMBER OF INDIAN INSTITUTES OF INFORMATION TECHNOLOGY (IIITS) RISES TO 25 IN 2022 AGAINST 9 IN 2014

TOTAL ENROLMENT IN HIGHER EDUCATION INCREASES TO NEARLY 4.1 CRORE IN FY21 FROM 3.9 CRORE IN FY20.

HIGHER EDUCATION SEEES AN INCREASE OF 21 PERCENT IN ENROLMENT SINCE FY15

FEMALE ENROLMENT IN HIGHER EDUCATION INCREASES TO 2 CRORE IN FY21 FROM 1.9 CRORE IN FY20

ENROLMENT IN DISTANCE EDUCATION INCREASES BY AROUND 7 PER CENT OVER FY20 AND BY 20 PER CENT SINCE FY15

GER IN HIGHER EDUCATION RECORDED AT 27.3 PER CENT IN FY21, STOOD AT 25.6 IN FY20

GER FOR MALES INCREASES FROM 24.8 IN FY20 TO 26.7 IN FY21, GER FOR FEMALES IMPROVES FROM 26.4 TO 27.9 DURING SAME PERIOD

The Survey states that the Quality Education which is enlisted as Goal 4 under UN SDGs (SDG4) aims to “Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all” by 2030. It is in this context that the National Education Policy 2020 was laid down as the 1st Education Policy of the 21st century, aiming to address the many growing developmental imperatives of the country. The policy provided for the revision and revamping of all aspects of the education structure. The Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman tabled Economic Survey 2022-23 in Parliament today.

School Enrolment:

The year FY22 saw improvement in Gross Enrolment Ratios (GER) in schools and improvement in gender parity. GER in the primary-enrolment in class I to V as a percentage of the population in age 6 to 10 years – for girls as well as boys have improved in FY 22. This improvement has reversed the declining trends between FY17 and FY19. GER in Upper Primary (enrolment in class VI to VIII as a per cent of the population in age 11-13 years), which was stagnant between FY17 and FY19, improved in FY22. In corresponding age groups in Primary and Upper-Primary levels, girls’ GER is better than boys.

School Gross Enrolment Ratios

In FY22, school enrolment stood at 26.5 crore children with 19.4 lakh additional children enrolled in Primary to Higher Secondary levels. Total enrolment of Children with Special Needs (CWSN) in FY22 stands at 22.7 lakh as compared to 21.9 lakh in FY21, which is an increase of 3.3 per cent. The enrolments increased across all levels viz., Primary, Upper-Primary, Secondary, and Higher Secondary except for the Pre-Primary level. At the Pre-primary level, enrolment reduced from 1.1 crore in FY21 to 1.0 crore in FY22. During the year, about 1.0 crore children were enrolled in pre-primary, 12.2 crore in Primary, 6.7 crore in Upper Primary, 3.9 crore in Secondary and 2.9 crore in Higher Secondary.

School Drop-out

School dropout rates at all levels have witnessed a steady decline in recent years. The decline is for both girls and boys. The schemes such as Samagra Shiksha, RTE Act, improvement in school infrastructure and facilities, residential hostel buildings, availability of teachers, regular training of teachers, free textbooks, uniforms for children, Kasturba Gandhi Balika Vidyalaya and the PM POSHAN Scheme play an important role in enhancing enrolment and retention of children in schools.

School dropout rates

School Infrastructure

The education infrastructure in the form of schools, amenities, and digitalisation has been steadily promoted along with a focus on pedagogy. The basic infrastructure facilities in schools – both in terms of the number of recognised schools and teachers’ availability reflected in the Pupil-Teacher Ratio, showed an improvement in FY22.

Basic facilities in schools continued to improve in FY22 over earlier years. Toilets (girls or boys), drinking water, and hand-washing facilities are now available in most Government schools. Priority to drinking water and sanitation in schools under Samagra Shiksha Scheme as well as Swachh Bharat Mission have been instrumental in providing required resources and creating these assets in schools. Under the Information & Communication Technology (ICT) component of the Samagra Shiksha Scheme, Government supports the establishment of smart classrooms, and ICT labs in schools, including support for hardware, educational software, and e-content for teaching.

Improving School Infrastructure

The availability of teachers, measured by pupil-teacher ratio, an indicator which is inversely related to improvement in quality of education, has improved at all levels continuously from FY13 to FY22: from 34.0 to 26.2 at Primary, 23.0 to 19.6 at Upper Primary, 30.0 to 17.6 at Secondary, and 39.0 to 27.1 at the Higher Secondary level. The improvement in the number of schools, teachers’ availability, and facilities in schools is expected to help improve enrolment and reduce dropout rates.

Various programmes and schemes for school education launched during FY23 are presented in the following paras.

  • PM Schools for Rising India: The Government launched a Centrally Sponsored Scheme (CSS) called PM Schools for Rising India (PM SHRI) on 7 September, 2022. Under the scheme, there is a provision for setting up more than 14,500 PM SHRI Schools, over the period FY23 to FY27 by strengthening the existing schools from those managed by Central Government/State/UT Government/local bodies. These schools will be equipped with modern infrastructure and showcase the implementation of the NEP and emerge as exemplary schools over a period of time, while offering leadership to other schools in the neighbourhood. More than 20 lakh students are expected to be direct beneficiaries of the scheme.
  • The National Curriculum Framework (NCF) for Foundational Stage: NCF for Foundational Stage has been launched as the new 5+3+3+4 curricular structure which integrates early childhood care and education for all children of ages 3 to 8.
  • Pilot project of Balvatika: With a focus on developing cognitive, affective, and psychomotor abilities and also early literacy and numeracy for students in the age groups of 3+, 4+ and 5+ years, Project Balvatika, i.e.,‘Preparatory Class’, was launched in October 2022 in 49 Kendriya Vidyalayas.
  • A handbook for Toy-based pedagogy
  • Screening tools (Mobile App) for specific learning disabilities
  • National Credit Framework
  • Strengthening Teaching-Learning and Results for States (STARS):
  • Vidyanjali (A School Volunteer Initiative): The programme has successfully managed to impact around 11,34,218 students across the nation.
  • Samagra Shiksha Scheme: An overarching programme for the school education sector extending from pre-school to class XII. The Samagra Shiksha Scheme has been aligned with the recommendations of the NEP 2020 and extended from FY22 to FY26.

Higher Education

Number of Indian Institutes of Technology (IITs) and Indian Institute of Management (IIMs), respectively stand at 23 and 20 in 2022 against 16 and 13 in 2014. The strength of Indian Institutes of Information Technology (IIITs) is 25 in 2022 against 9 in 2014.

The total enrolment in higher education has increased to nearly 4.1 crore in FY21 from 3.9 crore in FY20. Since FY15, there has been an increase of around 72 lakh in enrolment (21 per cent). The female enrolment has increased to 2.0 crore in FY21 from 1.9 crore in FY20.

Total Students’ Enrolments in Higher Education   

  Students’ Enrolment in Higher Education

The enrolment in Distance Education is 45.7 lakh (with 20.9 lakh females), an increase of around 7 per cent since FY20 and 20 per cent since FY15. The GER in higher education, based on 2011 population projections (revised), was recorded at 27.3 per cent in FY21, which is an improvement from 25.6 in FY20. GER for males increased from 24.8 in FY20 to 26.7 in FY21 while GER for females has also shown improvement from 26.4 to 27.9 during the same period.

The total number of faculty/teachers in Higher Education is 15,51,070 of which about 57.1 per cent are male and 42.9 per cent are female.

The survey appreciated the various initiatives for Higher education including Research & Development Cell (RDC) in Higher Education Institutions, Guidelines for pursuing two academic programmes simultaneously, Interest subsidy on education loan.

The Survey also mentions about a three-day Akhil Bharatiya Shiksha Samagam organised at Varanasi on 7-9 July 2022 by the Ministry of Education in association with the UGC and Banaras Hindu University. The event brought together over 300 Vice Chancellors and Directors from public and private universities, educationists, policymakers, as also industry representatives to deliberate on how the implementation of NEP 2020 can be taken further across the country after successful implementation of several initiatives in the last two years. The Summit provided a platform for thought-provoking discussions that helped articulate the roadmap and implementation strategies, foster knowledge exchange, build networks through interdisciplinary deliberations, and discuss challenges being faced by educational institutions and articulate solutions.

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