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August 6, 2026
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Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
August 6, 2026
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Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
August 6, 2026
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Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
August 6, 2026
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Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
August 6, 2026
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Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
August 6, 2026
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Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
August 5, 2026
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Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
August 5, 2026
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Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
August 5, 2026
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Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
August 5, 2026
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On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
August 5, 2026
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Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
August 5, 2026
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Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
August 5, 2026
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Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
August 5, 2026
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Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
August 5, 2026
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Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
August 5, 2026
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Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
August 5, 2026
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Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
August 5, 2026
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Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
August 5, 2026
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Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
August 5, 2026
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Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.

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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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