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    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
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July 31, 2026
Show AI Summary
One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
July 31, 2026
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Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
July 31, 2026
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Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
July 31, 2026
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Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
July 31, 2026
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Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
July 31, 2026
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Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
July 31, 2026
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Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
July 31, 2026
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Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
July 31, 2026
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Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
July 31, 2026
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Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
July 31, 2026
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Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
July 31, 2026
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Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
July 31, 2026
Show AI Summary
Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
July 31, 2026
Show AI Summary
Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
July 30, 2026
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Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
July 30, 2026
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Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
July 30, 2026
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Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
July 30, 2026
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Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.
July 30, 2026
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Property digital identity framework proposed through comprehensive surveys, floor-level records, and unique cards to improve ownership verification.
The proposed Delhi Land Records Bill, 2026 contemplates a digital land-records framework requiring scientific surveys of every property, comprehensive authenticated digital records and a unique Property Aadhaar Card. The proposed system would cover rural and urban residential, commercial and other properties, including floor-level records for buildings. It is intended to improve ownership verification, property transactions, inheritance, loan access, building-plan approvals and transparency in land records.
July 30, 2026
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Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens.
Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.

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Customs, DGFT & SEZ

Lok Sabha passes Jan Vishwas (Amendment of Provisions) Bill, 2023 in Parliament

July 28, 2023

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The Bill aims at giving further boost to Ease of Living and Ease of Doing Business

The Bill proposes to amend 183 provisions to be decriminalized in 42 Central Acts administered by 19 Ministries/Departments

The Jan Vishwas (Amendment of Provisions) Bill, 2023 was passed in Lok Sabha here today.

The Bill was first introduced in Lok Sabha on 22nd December 2022. Subsequently, it was referred to the Joint Committee of the Parliament. The Joint Committee on the Jan Vishwas (Amendment of Provisions) Bill, 2022 held detailed discussions with all the 19 Ministries/Departments along with Legislative Department and Department of Legal Affairs. The Committee conducted clause-by-clause examination of the Bill through a series of 9 sittings between 09.01.2023 and 17.02.2023. The Committee finally adopted its Report in its sitting held on 13.03.2023.

The Report of the Committee has been laid before Rajya Sabha and Lok Sabha on 17th March 2023 and 20th March 2023 respectively. The Committee recommended a few more amendments in the Bill. Committee also made 7 general recommendations, out of which, 6 recommendations have been accepted by all the Ministries/Departments concerned.

Through The Jan Vishwas (Amendment of Provisions) Bill, 2023, a total of 183 provisions are being proposed to be decriminalized in 42 Central Acts administered by 19 Ministries/Departments. Decriminalization is proposed to be achieved in the following manner: -

(i) Both Imprisonment and/or Fine are proposed to be removed in some provisions.

(ii) Imprisonment is proposed to be removed and fine retained in few provisions.

(iii) Imprisonment is proposed to be removed and Fine enhanced in few provisions.

(iv) Imprisonment and Fine are proposed to be converted to Penalty in some provisions.

(v) Compounding of offences is proposed to be introduced in few provisions.

For effective implementation of the above, the bill proposes measures such as (a) pragmatic revision of fines and penalties commensurate to the offence committed; (b) establishment of Adjudicating Officers; (c) establishment of Appellate Authorities; and (d) Periodic increase in quantum of fine and penalties

It is also ensured that degree and nature of punishment is commensurate with the severity of the offence.

The benefits of the Amendment Bill are outlined as under:

1. The Amendment Bill will contribute to rationalizing criminal provisions and ensuring that citizens, businesses and the government departments operate without fear of imprisonment for minor, technical or procedural defaults.

2. The nature of penal consequence of an offence committed should be commensurate with the seriousness of the offence. This bill establishes a balance between the severity of the offence/violation committed and the gravity of the prescribed punishment. The proposed amendments ensure the adherence to law by businesses and citizens, without losing the rigor of the law.

3. The criminal consequences prescribed for technical/procedural lapses and minor defaults, clog the justice delivery system and puts adjudication of serious offences on the back burner. Some of the amendments proposed in the Bill are to introduce suitable administrative adjudication mechanisms, wherever applicable and feasible. This would go a long way in reducing undue pressure on the justice system, reduce the pendency of cases and help in a more efficient and effective justice dispensation.

4. Decriminalization of provisions which affect citizens and certain categories of government employees will help them live without the fear of imprisonment for minor violations.

5. The enactment of this legislation would be a landmark in the journey of rationalizing laws, eliminating barriers and bolstering growth of businesses. This legislation would serve as a guiding principle for future amendments in various laws. Consolidated amendments in various laws with a common objective will save time and cost for both Government and Businesses alike.

Ministry/Department-wise List of 42 Acts

(Covered under The Jan Vishwas (Amendment of Provisions) Bill, 2023) 

Sl. No.

Name of the Acts

Name of Ministries / Departments

  1.  

The Agricultural Produce (Grading and Marking) Act, 1937

D/o Agriculture, & Farmers Welfare

  1.  

The Marine Products Export Development Authority Act, 1972

D/o Commerce

  1.  

The Rubber Act, 1947

  1.  

The Tea Act, 1953

  1.  

The Spices Board Act, 1986

  1.  

The Legal Metrology Act, 2009

D/o Consumer Affairs

  1.  

The Cantonments Act 2006

D/o Defence

  1.  

The Government Securities Act, 2006

D/o Economic Affairs

  1.  

The High Denomination Banknotes (Demonetization) Act, 1978

  1.  

The Public Debt Act, 1944

  1.  

The Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016

M/o Electronics and Information Technology

  1.  

The Information Technology Act, 2000

  1.  

The Air (Prevention and Control of Pollution) Act, 1981

M/o Environment, Forest and Climate Change

  1.  

The Environment Protection Act, 1986

  1.  

The Indian Forest Act, 1927

  1.  

The Public Liability Insurance Act, 19941

  1.  

The Deposit Insurance and Credit Guarantee Corporation Act, 1961

D/o Financial Services

  1.  

The Factoring Regulation Act, 2011

  1.  

The National Bank for Agriculture and Rural Development Act, 1981

  1.  

The National Housing Bank Act, 1987

  1.  

The Payment and Settlement Systems Act, 2007

  1.  

The Food Corporations Act, 1964

D/o Food & Public Distribution

  1.  

The Warehousing Corporation Act, 1962

  1.  

The Drugs and Cosmetics Act, 1940

D/o Health & Family Welfare

  1.  

The Food Safety and Standards Act, 2006

  1.  

The Pharmacy Act, 1948

  1.  

The Metro Railways (Operation and Maintenance) Act, 2002

M/o Housing & Urban Affairs

  1.  

The Press and Registration of Books Act, 1867

M/o Information & Broadcasting

  1.  

The Cinematography Act, 1952

  1.  

The Cable Television Networks (Regulation) Act, 1995

  1.  

The Merchant Shipping Act, 1958

M/o Ports, Shipping & Waterways

  1.  

The Indian Post Office Act, 1898

D/o Posts

  1.  

The Boilers Act, 1923

Department for Promotion of Industry & Internal Trade

  1.  

The Copyright Act, 1957

  1.  

The Geographical Indications of Goods Act, 1999

  1.  

The Industries (Development and Regulation) Act, 1951

  1.  

The Patents Act, 1970

  1.  

The Trade Marks Act, 1999

  1.  

The Railways Act, 1989

M/o Railways

  1.  

The Motor Vehicles Act, 1988

M/o Road Transport & Highways

  1.  

The Prevention of Money-laundering Act, 2002

D/o Revenue

  1.  

The Collection of Statistics Act, 2008

M/o Statistics & Programme Implementation

 

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Acts Income Tax