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    Sugar prices soar to Rs 70 per kg ahead of festive season in Bengal, jaggery also dearer
    Rupee gains 9 paise to 95.65 against US dollar in early trade
    Union Minister of State for Finance Shri Pankaj Chaudhary participated virtually in 21st Award Ceremony of Security Printing and Minting Corporation o...
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    Govt allows free imports of 10 lakh tn raw sugar until Oct 31; caps sugar stock for bulk consumers
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August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
Show AI Summary
Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
Show AI Summary
MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.

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GOVERNMENT COMMITTED TO EQUIP WORKFORCE WITH EMPLOYABLE SKILLS AND KNOWLEDGE IN MISSION MODE

January 31, 2023

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GOVERNMENT COMMITTED TO EQUIP WORKFORCE WITH EMPLOYABLE SKILLS AND KNOWLEDGE IN MISSION MODE

NEP GIVES SPECIAL FOCUS ON VOCATIONAL EDUCATION AND SKILL DEVELOPMENT

PERIODIC LABOUR FORCE SURVEY FY21 SHOWS FORMAL VOCATIONAL /TECHNICAL TRAINING AMONG YOUTH AND WORKING POPULATION IMPROVED IN FY21 OVER FY19 AND FY20

BETWEEN FY17 AND FY23 (AS OF 5 JANUARY 2023), UNDER PMKVY 2.0 ABOUT 1.1 CRORE PERSONS TRAINED: 83 PER CENT CERTIFIED AND ABOUT 21.4 LAKH RECEIVED PLACEMENT

UNDER PMKVY 1.3 LAKH MIGRANT LABOURERS AFFECTED DUE TO COVID TRAINED

UNDER NATIONAL APPRENTICESHIP PROMOTION SCHEME 21.4 LAKH APPRENTICES ENGAGED BY INDUSTRIES AS ON 31 DECEMBER 2022

UNDER CRAFTSMEN TRAINING SCHEME 91.7 LAKH STUDENTS TRAINED AS ON 30 OCTOBER 2022

The Survey says that with the establishment of a Central Ministry, efforts to improve and streamline the skilling ecosystem were ramped up as the government launched the National Skill Development Mission as well as the National Policy on Skill Development and Entrepreneurship. Under the NEP 2020 also, there is a special focus on vocational education and skill development. Integration of vocational education with general education and mainstreaming of vocational education have been identified as the key reform in the education System of the country. The Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman tabled Economic Survey 2022-23 in Parliament today.

Periodic Labour Force Survey (PLFS) FY21 shows that formal vocational/technical training among youth (age 15- 29 years) and the working population (age 15-59 years) have improved in FY21 over FY19 and FY20. The improvement in skills has been for males and females, both in rural and urban sectors.

Distribution of persons who received formal vocational/technical training

As per the reports of the fourth round of the Quarterly Employment Survey (QES) (for Q4 FY22) in respect of establishments employing at least 10 workers in major nine sectors, 15.6 per cent of estimated establishments imparted formal skill training and 20.5 per cent imparted on-the-job training. The health sector had the highest percentage of estimated establishments imparting formal skill training (24.7 per cent) and on-the-job training (31.6 per cent), followed by financial services (20.4 per cent of establishments imparting formal training and 26.4 per cent imparting on-the-job training).

Skill Indian Mission

The Skill Indian Mission focuses on skilling, re-skilling and up-skilling through short term and long term training programmes. Under the Mission, the government, through more than 20 Central Ministries/Departments, is implementing various skill development schemes across the country. The advocacy of the programmes is being done through print media, electronic media, and State Governments’ campaigns. More and more areas are being aligned with the common framework spanning the skills ecosystem so that the outcomes of the Government skilling programmes are uniform across the skilling ecosystem.

The progress in some of these schemes is presented in Box:

Progress of Skill India Mission

Skill Development Scheme

Progress

PMKVY was first launched in 2015. Presently, the third phase of PMKVY, i.e., PMKVY 3.0 is being implemented across the country since January 2021

PMKVY has two training components, viz., Short Term Training (STT) and Recognition of Prior Learning (RPL).

Pradhan Mantri Kaushal Kendra set up at District level, are envisaged as state of the art, visible and aspirational model training Centres

  • Between FY17 and FY23 (as of 5 January 2023), under PMKVY 2.0 about 1.1 crore persons have trained: 83 per cent certified and about 21.4 lakh placed. Under PMKVY 3.0, during FY21 to FY23 (as on 5 January 2023) 7.4 lakh persons have been trained, 66 per cent certified and 41,437 placed.
  • PMKVY also provided training to Shramiks (migrant labourers) affected due to Covid-19. This component covered 116 districts of 6 States, viz., Assam, Bihar, Madhya Pradesh, Odisha, Rajasthan, and Uttar Pradesh. As on 31 October 2022, 1.3 lakh migrants have been trained/ oriented (0.88 lakh in STT and 0.38 lakh in RPL).

Jan Shikshan Sansthan Scheme provides for a lump sum annual grant is released to Jan Shikshan Sansthans (NGOs) for skill training to non-literate, neo-literates, persons with a rudimentary level of education and school dropouts up to class XII in the age group of 15-45 years. The priority groups are women, SC, ST, and other backward sections of society.

  • From FY20 to FY23 (as of 5 January 2023), 16.0 lakh beneficiaries have been trained of which 28.4 per cent are from urban areas and 69.0 per cent are from rural areas and 2.7 per cent are from tribal areas. Notably, 81 per cent of the trainees are women.

National Apprenticeship Promotion Scheme provides financial support to industrial establishments undertaking apprenticeship programmes under the Apprentices Act, 1961.

  • Since the launch of the scheme in 2016, as on 31 December 2022, 21.4 lakh apprentices have been engaged by Industries

Craftsmen Training Scheme provides long-term training in 149 trades through 14,938 Industrial Training Institutes (ITIs) across the country

  • Since 2015, 91.7 lakh students have been trained as on 30 October 2022.

Craft Instructor Training Scheme provides comprehensive training both in skills and training methodology is imparted to the instructor trainees to make them conversant with the methodology of teaching and techniques of transferring hands-on skills, to train skilled manpower for the industry.

  • During the year FY22, a total of 8,847 trainees have been trained in various National Skill Training Institutes and Institute of Training of Trainers

Making India Skill Capital of the World

With an aim to make India a Skill Capital of the World and improve mobility of Skilled manpower the National Skill Development Corporation (NSDC) International has been set up, which aims to create a network of institutions across India. This network of institutions will be called as Skill India International (SII) Network. It shall be created through the empanelment of state-of-the-art government and private institutions.

  • MSDE has also signed MoUs with 11 countries, Australia, Belarus, China, Denmark, France, Germany, Japan, Qatar, Switzerland, UAE, and the United Kingdom in the field of skill development and vocational education training.
  • NSDC has also signed 18 B2B MoUs with countries like Australia, Canada, Germany, Japan, Malaysia, Kingdom of Saudi Arabia, UAE, etc.

Skill Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) is a World Bank loan-assisted programme launched in 2018 to decentralise skilling initiatives and align skill development programmes with local demand and aspirations of the youth

  • Under the National Component and State Components of SANKALP, 64 and 700 projects respectively have been taken up in the area of Skill and Entrepreneurship development and strengthening of monitoring.
  • 724 District Skill Committees (DSCs) have been constituted, which are mandated to plan, manage and monitor skilling activities at the District level

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