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    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
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August 1, 2026
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Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
August 1, 2026
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GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
August 1, 2026
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Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
August 1, 2026
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GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
August 1, 2026
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GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
August 1, 2026
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Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
August 1, 2026
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Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
August 1, 2026
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Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
August 1, 2026
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Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
July 31, 2026
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Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
July 31, 2026
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Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
July 31, 2026
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Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
July 31, 2026
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Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
July 31, 2026
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Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
July 31, 2026
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Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
July 31, 2026
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India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
July 31, 2026
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Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
July 31, 2026
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One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
July 31, 2026
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Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
July 31, 2026
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Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.

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News and Press Release

Sh. Piyush Goyal releases “Compendium of PM GatiShakti: Volume II”,

December 19, 2023

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“Compendium of Roles and Responsibilities on PM GatiShakti National

Master Plan” and “Handbook for District Collectors: PM GatiShakti

National Master Plan for Area Development Approach”

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Sh. Piyush Goyal released three documents, namely, “Compendium of PM GatiShakti: Volume II”, “Compendium of Roles and Responsibilities on PM GatiShakti National Master Plan” and “Handbook for District Collectors: PM GatiShakti National Master Plan for Area Development Approach”, yesterday at Vanijya Bhawan, New Delhi.

Union Minister of State for Commerce & Industry, Sh. Som Parkash, Secretary,  Department for Promotion of Industry and Internal Trade (DPIIT), Sh. Rajesh Kumar Singh, Special Secretary (Logistics) DPIIT,  Smt. Sumita Dawra, Director General, BISAG-N, Sh. T.P Singh, members from Network Planning Group, and other senior officials were also present during the release.

Union Minister of Commerce & Industry, Consumer Affairs, Food Public Distribution, and Textiles, Sh. Piyush Goyal, congratulated everyone for the efforts that have propagated outcomes and significant achievements made under PM GatiShakti in the last two years. He highlighted the benefits of PM GatiShakti NMP in addressing significant problems through integrated data-driven mechanisms, ensuring cost effectiveness in project planning and implementation in time bound manner, and expeditious NOC approvals and land acquisitions.

Union Minister of State for Commerce & Industry, Sh. Som Parkash, emphasised onboarding of infrastructure, economic, and social Ministries/ Departments that has enabled holistic and integrated planning of complete areas on PM GatiShakti principles. He asserted that the release of these three documents will make our country’s infrastructure planning more synchronised and help improve India’s logistics efficiency.

Secretary, DPIIT, Sh. Rajesh Kumar Singh,  asserted the tremendous improvement made in terms of area planning at the District/Local root level for hard infrastructure and soft infrastructure. He remarked that these documents will benefit all stakeholders and enable integrated planning, elimination of ad-hoc issues and bring synergy amongst all relevant stakeholders at all Central, State and Local level.

Special Secretary (Logistics), DPIIT, Smt. Sumita Dawra,  in her introductory remarks highlighted that the Logistics Division, DPIIT has undertaken concerted efforts pertaining to data ownership and quality management, and use cases of PMGS. In the last week, many of these initiatives have reached their logical conclusion. These include (i) the release of Report on “Logistics Cost in India: Assessment and Long-term Framework”; (ii) the release of “Logistics Ease Across Different States (LEADS) – 2023”; (iii) the Inauguration of BISAG-N Office-cum-training Centre at New Delhi. She further emphasized that the three documents released will streamline the roles and responsibilities of stakeholders in PM GatiShakti, facilitate area development planning at the District/Local level, and promote cross-learning amongst stakeholders.

“Compendium of PM GatiShakti: Volume II”

To commemorate two years of the launch of PM GatiShakti, a “Compendium of PM GatiShakti” was released on October 13, 2023. In continuation, a second edition “Compendium of PM GatiShakti: Volume II” has been developed to showcase 11 successful use cases of adoption of PM GatiShakti NMP by various line Ministries and States/UTs across different sectors.

These cases encompass a wide array of projects, including the construction of a high-speed highway connecting Bareilly, Gorakhpur, and Siliguri; addressing urban congestion in Bengaluru; and tourism initiatives in Arunachal Pradesh to improve connectivity and empower communities.

It underscores the benefits of adopting PM GatiShakti, inter alia including expeditious decision-making, integrated planning reducing time and cost overruns, and replacing manual planning processes with digital tools. The compendium aims to be a valuable resource, facilitating cross-learning among all stakeholders to enable Ease of Doing Business and Ease of Living.

“Handbook for District Collectors: PM GatiShakti National Master Plan for Area Development Approach”

Since, PM GatiShakti emphasizes comprehensive area-based socio-economic development, its adoption at District/Local level planning is imperative. A “Handbook for District Collectors: PM GatiShakti National Master Plan for Area Development Approach” was also released to facilitate the onboarding of district-level officers.

The handbook provides a detailed overview of the principles of Area Development Planning, and the critical role of District/Local level administration in achievement of the desired objectives.

Intended as a comprehensive guide, it provides a complete understanding of the roles and responsibilities of stakeholders at the district/local level, involved in the planning and implementation of social and economic infrastructure, for seamless district-level adoption of PM GatiShakti. It will play a pivotal role in the implementation of schemes and programmes of the Central/State Government such as the Aspirational Blocks Programme.

“Compendium of Roles and Responsibilities on PM GatiShakti National Master Plan”

During the event, a “Compendium of Roles and Responsibilities on PM GatiShakti National Master Plan” was also launched, meant for circulation for Ministries/States & UTs. It provides an overview of the roles and responsibilities of stakeholders including line Ministries / Departments, States/UTs, BISAG-N and Logistics Division.

This document will act as a valuable resource for promoting clarity, collaboration, and efficient data management practices by emphasizing on the formulation of a checklist for setting data management standards by each Ministry/Department/State /UT, Quality and updation mechanism, data editing, data interoperability, data sensitivity, Cyber security of the NMP platform, etc.

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