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    After 35 years, India's sovereign rating upgraded to 'A-' by JCR on solid growth, resilient financial system
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    India draws record USD 127 bn forex deposit in special drive
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September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.
September 2, 2026
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Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
Show AI Summary
Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
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Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
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Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
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Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
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E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.

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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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