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August 5, 2026
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Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
August 5, 2026
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Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
August 5, 2026
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Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
August 5, 2026
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Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
August 5, 2026
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Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
August 5, 2026
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Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
August 5, 2026
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Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
August 5, 2026
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Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
August 5, 2026
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Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
August 5, 2026
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Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
August 5, 2026
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Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
August 5, 2026
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Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
August 5, 2026
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Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
August 5, 2026
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Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
August 4, 2026
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Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
August 4, 2026
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Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
August 4, 2026
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Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
August 4, 2026
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Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
August 4, 2026
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Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
August 4, 2026
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Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.

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PMLA, Black Money & ED

Year End Review 2023: Ministry of Statistics and Programme Implementation

December 18, 2023

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MoSPI represents India on various international Statistical fora

India elected in United Nations Statistical Commission (UNSC) as a member for a term of four years

Through UNSC, MoSPI will have a crucial role in defining international standards, concepts and methodologies in Official Statistics

MoSPI publishes Monthly data/statistical indicators with a minimum possible time lag which is at par with the best international standards

Adopts Computer Aided Personal Interview (CAPI) for conducting surveys for faster validation and improved data quality

Technological improvement helps in reduction of Time lag of release of survey results including Quarterly Bulletins of Periodic Labour Force Survey (PLFS) from 9 months to 2-3 months from the completion of field work

Data visualization section added in the MoSPI’s website for the first time relating to NAS/GDP, CPI, PLFS and IIP

Organizes Data users’ conferences for users and stakeholders attended by experts from academia, industries, media, researches

Releases revised Guidelines on MPLAD Scheme and launches new Web- Portal for implementation of Revised Fund Flow Procedure under the Scheme

Publishes Environmental Statistics covering a wide range of topics including air  and water quality, waste generation and disposal, biodiversity and land use, greenhouse gas emissions and energy consumption

International Cooperation and Coordination with Multilateral agency

Ministry of Statistics and Programme Implementation (MoSPI) represents India on various international Statistical for a. As a befitting recognition of the Indian Statistical System, India has been elected in United Nations Statistical Commission (UNSC) as a member for a term of four years starting 1st Jan 2024 (after two-decades of vacuum). Through UNSC, MoSPI will have a crucial role in defining international standards, concepts and methodologies in Official Statistics.

In addition, India had been re-elected as (a) one of the three Vice Chairs of the Bureau of UN ESCAP Committee on Statistics (CST) and (b) to the Governing Council of Statistical Institute for Asia and the Pacific (SIAP) for the period 2022-2024.

Benchmarking of few important statistical products

MoSPI carried out benchmarking of few important statistical products with the best practices followed by other National Statistical Offices (NSOs). Various monthly data/statistical indicators like CPI and IIP are published by MoSPI, with a minimum possible time lag which is at par with the best international standards. The same is true for NAS/GDP quarterly as well as annual estimates.

Computer Aided Personal Interview (CAPI)

Regarding systemic improvement and timely publication of data, modern IT tools are being adopted for improved data capturing and processing by MoSPI. As a part of this, all the ongoing surveys are now being conducted in CAPI (Computer Assisted Personal Interview), loaded with in-built Computer Scrutiny Points (CSP), for data validation at different stages of data capturing, which is a cloud based digital platform ensuring simultaneous data processing. It enables faster validation and improved data quality along with time cycle involved in publishing the survey result.

This technological improvement caused a drastic reduction in the time lag of release of survey results including Quarterly Bulletins (QB) of Periodic Labour Force Survey (PLFS) from 9 months to 2-3 months from the completion of field work. The time lag in release of PLFS Annual Report 2022-23 has also been brought down to around 3 months from 8 months of release of PLFS Annual Report 2021-22 from end of survey period.

Data visualization

The Ministry attempted modernization of its website-based on feedback from various users, a data visualization section has been added in the MoSPI’s website for the first time. To begin with this section contains visualizations related to four databases of MoSPI, viz. NAS / GDP, CPI (Rural, Urban, Combined), PLFS and IIP. With this experience, we are expanding the scope and coverage to integrate data of other line Ministries/Departments. Participants of data users’ conference appreciated these features under the website.

Data users’ conferences:

Since October 2022, MoSPI organized three data users’ conferences for users and stakeholders. To begin with, MoSPI covered National Account Statistics (NAS) in these conferences, which were attended by experts from academia, industries, media, researches etc. The initiative is well appreciated by the participants.

Release of revised Guidelines on MPLADS and launch of new Web-Portal

MoSPI administers Members of Parliament Local Area Development Scheme (MPLADS), which enables Members of Parliament (MPs) to recommend works of developmental nature with emphasis on  creation of durable community assets based on the locally felt needs. The Scheme is governed by a set of guidelines, which has been revised and came into effect from 01.04.2023.

The Ministry has launched a web-portal for implementing fund flow procedure. The new web-portal incorporates several technology-enabled functionalities covering the entire lifecycle of a MPLADS development project and online monitoring system such as online work recommendation, online sanction/rejection, dashboards, alert generation, automatic generation of utilization/completion certificate, payment to vendors etc. The new system has brought greater improvements in functioning, implementation and monitoring of the MPLAD Scheme in line with the Digital India.

Data Governance Quality Index (DGQI) of NITI Aayog

MoSPI's score has risen from 4.08 of previous edition (2021-22/Q4) to 4.27 in the current edition (2022-23/Q4). Amongst Strategic Ministries/Departments,     in which MoSPI is placed, it occupies second position.

Swachhata Pakhwada

MoSPI celebrated Special Swachhata Pakhwada from 1st July to 15thJuly 2023. During this fortnight, a wide range of Swachhata related activities were conducted including workshops, various types of competitions for children, health camps, street plays, rallies, Swachhata Awareness drives etc.  in various schools, hospitals, orphanages, markets, industrial areas and villages across the country apart from offices of the Ministry.

Gender Statistics

The Ministry organized a seminar on "Role of Gender Statistics in Policy Making “in the month of March 2023.The 24th issue of publication titled "Women and Men in India 2022 " on 15.03.2023 to commemorate International Women's Day. The publication is a comprehensive and insightful

document, which helps us understand the disparities that exist between different groups of women and men.

Environmental Statistics

The publication "EnviStats India 2023 Vol. I: Environment Statistics " has been released on 31.03.2023, covering a wide range of topics, including air  and water quality, waste generation and disposal, biodiversity and land use, greenhouse gas emissions, and energy consumption. "Envistats India Vol.II: Environment Accounts" was released on 29th September 2023.

https://www.mospi.gov.in/sites/default/files/reports_and_publication/statistical_publication/EnviStats/Complete_ES1_2023_Vol1.pdf

https://www.mospi.gov.in/sites/default/files/reports_and_publication/statistical_publication/EnviStats/ES_Vol_II_2023.pdf

Sustainable Development Goals National Indicator Framework (NIF)

The Ministry organized a one-day workshop on "Consultation on Milestone   Setting for SDG National Indicators and Identification of National Indicators for Unaddressed SDG Targets" on 22nd February, 2023. Since the targets for SDGs are set by the UN to be achieved by 2030, the ministries and departments concerned were requested to set milestones for the interim periods to have a better monitoring of the progress made in achieving the targets. Further, against the 169 targets, national indicators are yet to be identified for a few targets. About 75 officers from concerned data source agencies/line Ministries, NITI Aayog and MoSPI participated in the workshop. Publications released:

  • Sustainable Development Goals National Indicator Framework (NIF) Progress Report 2023.

https://www.mospi.gov.in/sites/default/files/publication_reports/SDGs_NIF_Progress_Report_2023N_0.pdf?download=1

  • Data Snapshot on Sustainable Development Goals National Indicator Framework 2023.

https://www.mospi.gov.in/sites/default/files/publication_reports/DataSnapshot_on_SDGs_NIF_2023.pdf?download=1

  • Sustainable Development Goals National Indicator Framework 2023. (updated version of 2022)

https://www.mospi.gov.in/sites/default/files/publication_reports/SDGs_NIF_Progress_Report_2023N_0.pdf

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