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August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
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
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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
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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
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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.

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Corp. Laws, SEBI & IBC

DIFFERENCE IN PER CAPITA INCOME

December 18, 2023

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As per the latest information received from State Governments, State/ Union Territory-wise Per Capita Income, measured in terms of Per Capita Net State Domestic Product (NSDP) at current prices and constant (2011-12) prices are given in Annexure-I and Annexure-II respectively.

As per the latest information received from State Governments, range of State/ Union Territory-wise Per Capita Income, measured in terms of Per Capita Net State Domestic Product (NSDP), from  2020-21 to 2022-23 is given below:

Year

Ranges at Current Prices

Ranges at Constant (2011-12) Prices

2020-21

Rs. 42,083 - Rs. 4,31,351

Rs. 26,820 - Rs. 2,98,527

2021-22

Rs. 47,498 - Rs. 4,72,070

Rs. 28,679 - Rs. 3,10,201

2022-23

Rs. 54,111 - Rs. 5,19,964

Rs. 31,280 - Rs. 2,71,019

The differences in per capita income of States is due to different level of economic development in each state. The Government of India has been focusing on inclusive growth as reflected in its commitment to Sabka Saath, Sabka Vikas and has initiated several targeted schemes that aim to reduce poverty and inequality, provide social security, income generation and livelihood options and improve the quality of life of the vulnerable sections of the population in the country. Key measures taken for inclusive development include Pradhan Mantri Garib Kalyan Yojana; additional Emergency Working Capital Funding for farmers through NABARD; concessional credit through Kisan Credit Cards; fund transfer under PM-KISAN, PM Fasal Bima Yojana claim payments; extension of SVAMITVA Scheme to all States/UTs; enhancing agricultural credit and infrastructure funds; interest subvention for dairy cooperatives; liquidity support under Rural Infrastructure Development Fund to States; Agri-Infrastructure Fund for farm gate infrastructure; scheme for Formalisation of Micro Food Enterprises and Pradhan Mantri Matsya Sampada Yojana.

Further, the Government is implementing, Deendayal Antyodaya Yojana –National Rural Livelihoods Mission, Deen Dayal Upadhyay – Gramin Kaushalya Yojana, Pradhan Mantri Awaas Yojana – Gramin, Pradhan Mantri Gram Sadak Yojana, and National Social Assistance Programme to bring about overall improvement in the quality of life of the people in rural areas through employment generation, strengthening of livelihood opportunities, promoting self-employment, skilling of rural youths, provision of social assistance and other basic amenities.

Annexure I

Per Capita Net State Domestic Product at Current Prices; base year 2011-12.  As on 01.08.2023

PER CAPITA NSDP AT CURRENT PRICES (In Rs)

S. No.

State\UT

2020-21

2021-22

2022-23

 

1

Andhra Pradesh

1,63,746

1,92,587

2,19,518

 

2

Arunachal Pradesh

1,81,684

2,05,645

 NA

 

3

Assam

   90,482

1,02,965

1,18,504

 

4

Bihar

    42,083

   47,498

   54,111

 

5

Chhattisgarh

 1,04,788

1,20,704

1,33,898

 

6

Goa

 4,31,351

4,72,070

 NA

 

7

Gujarat

2,07,324

2,41,930

 NA

 

8

Haryana

 2,29,065

2,64,835

2,96,685

 

9

Himachal Pradesh

 1,77,924

2,01,271

2,22,227

 

10

Jharkhand

   69,963

   84,059

   91,874

 

11

Karnataka

 2,21,310

2,65,623

3,01,673

 

12

Kerala

 1,94,432

2,33,855

 NA

 

13

Madhya Pradesh

1,03,654

1,21,594

1,40,583

 

14

Maharashtra

1,83,704

2,15,233

 NA

 

15

Manipur

    75,784

   91,560

 NA

 

16

Meghalaya

    90,751

1,03,335

1,12,737

 

17

Mizoram

1,73,521

1,98,962

 NA

 

18

Nagaland

1,19,781

1,25,887

 NA

 

19

Odisha

1,03,203

1,28,181

1,49,902

 

20

Punjab

1,50,620

1,68,705

1,81,716

 

21

Rajasthan

1,15,122

1,35,962

1,56,149

 

22

Sikkim

4,15,045

4,63,509

5,19,964

 

23

Tamil Nadu

2,09,628

2,42,253

2,75,583

 

24

Telangana

2,25,663

2,70,839

3,12,398

 

25

Tripura

1,18,401

1,37,472

1,59,419

 

26

Uttar Pradesh

   61,434

   73,048

   83,565

 

27

Uttarakhand

1,84,002

2,11,657

2,33,565

 

28

West Bengal

1,06,510

1,24,798

1,41,373

 

29

Andaman & Nicobar Islands

2,05,368

2,29,080

 NA

 

30

Chandigarh

 2,90,671

3,33,932

 NA

 

31

Delhi

 3,31,112

3,89,529

4,44,768

 

32

Jammu & Kashmir-UT

 1,01,540

1,20,790

1,36,771

 

33

Puducherry

 2,08,453

2,51,344

 NA

 

Source: Directorate of Economics & Statistics of respective State Governments.

Above information is not compiled in respect of Lakshadweep, Daman & Diu and Dadra & Nagar Haveli. For UT of Ladakh, estimates so far have not been compiled by the UT Administration.

NA: Not Available.

Annexure II

Per Capita Net State Domestic Product at Constant(2011-12) Prices; base year 2011-12.  As on 01.08.2023

PER CAPITA NSDP AT CONSTANT (2011-12) PRICES (In Rs)

S. No.

State\UT

2020-21

2021-22

2022-23

 

1

Andhra Pradesh

   1,05,880

  1,17,464

  1,23,526

 

2

Arunachal Pradesh

   1,06,002

  1,11,776

 NA

 

3

Assam

      61,304

     65,726

     69,826

 

4

Bihar

      26,820

     28,679

     31,280

 

5

Chhattisgarh

      73,259

     78,377

     83,511

 

6

Goa

   2,98,527

  3,10,201

 NA

 

7

Gujarat

   1,56,285

  1,70,384

 NA

 

8

Haryana

   1,55,756

  1,72,657

  1,81,961

 

9

Himachal Pradesh

   1,34,111

  1,43,639

  1,52,376

 

10

Jammu & Kashmir

      51,464

     56,559

     60,033

 

11

Jharkhand

   1,49,030

  1,64,471

  1,76,383

 

12

Karnataka

   1,32,531

  1,48,810

 NA

 

13

Kerala

      56,320

     61,534

     65,023

 

14

Madhya Pradesh

   1,27,970

  1,38,490

 NA

 

15

Maharashtra

      44,449

     49,602

 NA

 

16

Manipur

      60,522

     63,295

     65,114

 

17

Meghalaya

   1,16,229

  1,29,785

 NA

 

18

Mizoram

      68,272

     70,020

 NA

 

19

Nagaland

      73,357

     81,178

     87,361

 

20

Odisha

   1,13,025

  1,18,227

  1,23,614

 

21

Punjab

      73,140

     80,545

     86,134

 

22

Rajasthan

   2,37,212

  2,46,526

  2,59,938

 

23

Sikkim

   1,43,482

  1,54,557

  1,66,727

 

24

Tamil Nadu

   1,40,703

  1,58,202

  1,69,006

 

25

Telangana

      79,123

     85,210

     91,853

 

26

Tripura

      39,735

     43,420

     47,066

 

27

Uttar Pradesh

   1,37,987

  1,49,015

  1,58,245

 

28

Uttarakhand

      63,562

     69,890

     75,561

 

29

West Bengal

   1,46,995

  1,63,138

 NA

 

30

Andaman & Nicobar Islands

   2,09,368

  2,19,778

 NA

 

31

Chandigarh

   2,34,569

  2,52,024

  2,71,019

 

32

Delhi

      65,444

     72,574

     77,891

 

33

Jammu & Kashmir-UT

   1,35,586

  1,55,246

 NA

 

Source: Directorate of Economics & Statistics of respective State Governments.

Above information is not compiled in respect of Lakshadweep, Daman & Diu and Dadra & Nagar Haveli. For UT of Ladakh, estimates so far have not been compiled by the UT Administration.

NA: Not Available.

This information was given by the Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation, Minister of State (Independent Charge) of the Ministry of Planning and Minister of State in the Ministry of Corporate Affairs, Shri Rao Inderjit Singh in a written reply in the Rajya Sabha today.

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