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    Colombian president asks Trump to suspend tariffs to help earthquake recovery
    Mission Samudra to be launched alongside Vizhinjam’s EXIM operations
    Europe emerges top destination for India's electric car shipments in Q1
    Govt sets LPG production targets for refiners; Reliance gets largest quota
    PM urges MSMEs to tap opportunities from FTAs
    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    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
    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    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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    August 16, 2026
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    Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
    Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
    August 16, 2026
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    Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
    Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
    August 16, 2026
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    Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
    India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
    August 16, 2026
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    LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
    Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
    August 16, 2026
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    Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
    Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
    August 15, 2026
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    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
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    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
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    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
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    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
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    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Customs, DGFT & SEZ

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

      August 3, 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

      Bill received overwhelming support cutting across political parties at the Joint Parliamentary Committee stage

      The Jan Vishwas (Amendment of Provisions) Bill, 2023 was passed in Lok Sabha on 27th June 2023 and Rajya Sabha on 2nd August 2023.

      The Bill was first introduced in Lok Sabha on 22nd December 2022. Subsequently, it was referred to the Joint Committee of the Parliament. The Jan Vishwas (Amendment of Provisions) Bill received overwhelming support and insightful suggestions from the Members of the Committee across parties. 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 was 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 which provide advice and guidance for future decriminalization efforts. One of the recommendations include constitution of a group consisting of legal professionals, industry bodies, members of bureaucracy and regulatory authorities, etc. to examine other acts and carry out exercise similar to the Jan Vishwas (Amendment of Provisions) Bill, 2023. Working group has been constituted as per the recommendation of the Committee.

      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

      3.

      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

      Illustrative examples of amendments carried out- 

      • The Indian Post Office Act, 1898

        • 23 Sections related to misconduct, voluntary withdrawal from duty, making false entry in register, defiling or injuring post office letter boxes, etc. are proposed to be omitted. These provisions relate to default by postal employees, other postal workers, employees of other agencies and other individuals. Provisions for appropriate action against such defaulting employees, workers and other individuals can effectively be taken under various Acts and Rules including CCS (CCA) Rules, 1965 or GDS (Conduct and Engagement) Rules, 2020, the Indian Contract Act, 1872 and the Indian Penal Code, 1860.

      • Indian Forest Act, 1927

        • This act (Section 26 (1) (d)) had Imprisonment provision for pasturing cattle in Forest land. This provision is being amended by removing imprisonment and fine. Now this contravention will attract penalty. This amendment will benefit tribals/villagers who may unknowingly enter forest land while pasturing cattle. Since the violation is not serious in nature and may not be intentional, imprisonment provisions were not justified. However, deterrence is proposed to be achieved by levying penalty of Rs. 500/- 

      • The Food Corporations Act, 1964 & The Warehousing Corporations Act, 1962

        • These acts provide imprisonment and fine for using the name of Food/warehouse Corporation without Corporation’s consent. Imprisonment (up to 6 months) and fine (₹1,000) is proposed to be removed for the use of Food/Warehouse Corporation’s name in any prospectus or advertisement without Corporation’s consent

      • The Cantonments Act, 2006

        • This act (Section 289 (5)) had imprisonment provisions for carrying or using non-biodegradable nature-polythene bags in cantonment area. This provision is being removed as most of the times, citizens using polyethene bags may not be aware about them being bio-degradable or not. 

      • Legal Metrology Act, 2009

        • Giving false information to legal metrology officer, controller or director (Legal Metrology Act, 2009) is proposed to be made compoundable (Section 48)

      • Motor Vehicles Act, 1988

        • Contraventions related to driving regulations, obstructing to free flow of traffic and producing false registration document (Motor Vehicles Act, 1988) are proposed to be made compoundable (Section 200 (1)).

      • Collection of Statistics Act, 2009

        • This act facilitates collection of statistics on economic, demographic, social, scientific, environmental aspects. This act had imprisonment provisions for Minor procedural offenses like failure to produce books, accounts, documents, or records, making any false or misleading statement or information, destroying, defacing, removing, or mutilating any information. Violations of provisions of this act are not severe in nature and do not cause any damage. These criminal provisions are being removed from the Act now. 

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