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September 25, 2026
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Global value chain integration advances trade partnerships, semiconductor capacity, and deep-tech innovation within broader economic engagement.
India's global economic engagement prioritises trade and economic partnerships to strengthen participation in global value chains and supply chains, facilitating cross-border movement of goods and services. The approach is linked to projected semiconductor demand and development of artificial-intelligence capabilities, alongside innovation, deep-tech startup support and private-sector space activity. The startup ecosystem is described as having expanded substantially, with current policy emphasis on deep-tech innovation and participation in global markets.
September 25, 2026
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Trade agreement review targets balanced, user-friendly, trade-facilitative rules to address asymmetries and strengthen regional commerce.
The ongoing review of the ASEAN-India Trade in Goods Agreement seeks to enhance trade flows, address trade asymmetries, and deliver a balanced, effective, user-friendly, and trade-facilitative arrangement for businesses. It forms part of India's commitment to mutually beneficial trade partnerships and regional trade arrangements.
September 24, 2026
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Portfolio management reforms broaden permitted investments, establish independent fund managers, and retain registered managers' responsibility for client portfolios.
Portfolio-management reforms replace the 2020 framework and expand investments into IPOs, primary-market debt, listed overseas equity and debt, and direct plans of Indian mutual fund schemes. Investment-grade unlisted non-convertible debt may comprise up to 10 per cent of client assets under management with client consent. Independent Fund Managers may operate with registered portfolio managers, which retain responsibility and liability. Accredited-investor eligibility is broadened, while specified compliance requirements are relaxed where adequate audit trails and internal controls exist.
September 24, 2026
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Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.
September 24, 2026
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Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
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Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
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Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
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Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
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FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
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Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
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Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
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Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
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Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
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Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
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Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
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Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.

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Boilers Bill, 2024 introduced in Rajya Sabha

August 7, 2024

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New Bill to replace a century old law

Boilers Bill to improve trust by decriminalising offences

3 out of 7 offences decriminalised, speedy redressal for all non-criminal offences

Obsolete provisions removed to enhance Ease of Doing Business

New Act to prioritise safety of workers

The Boilers Bill, 2024 was introduced in Rajya Sabha today (on August 06, 2024). It repeals the Boilers Act, 1923 (5 of 1923). The Cabinet chaired by Prime Minister, Shri Narendra Modi on 2nd August, 2024 had approved repealing of the existing Boilers Act, 1923 and introduction of “Boilers Bill, 2024” in the Parliament.

The re-enacted legislation meets the current requirements of stakeholders including industry, personnel working on/with boilers and implementers in the country and is as per need in the current times. The salient features of the Bill are as under:

(i) It has been drafted as per modern drafting practices to give more clarity to the provisions of the Bill. The similar provisions which are at different places in the Boilers Act,1923 have been grouped together in six chapters for easier reading and understanding of the Act. All the functions/powers of the Central Government, State Governments and Central Boilers Board have been enumerated in detail to avoid any confusion. 

(ii) For Ease of Doing Business (EoDB), the Bill will benefit boiler users including those in MSME sector as provisions related to the decriminalisation have been incorporated in the Bill. Out of the seven offences, to ensure safety of boilers and personnel dealing with boilers, in four major offences which may result in loss of life and property, criminal penalties are retained. For other offences, provision is being made for fiscal penalty. Moreover, for all non-criminal offences ‘fine’ has been converted into ‘penalty’ to be levied through executive mechanism instead of courts as existed earlier.

(iii)  The proposed bill will enhance safety as specific provisions have been made in the Bill to ensure the safety of persons working inside a boiler and that repair of boiler is undertaken by qualified and competent persons.

Background

The Government of India is examining all the pre- constitution Acts from the point of view of their suitability and relevance in the current times.

The Boilers Act, 1923, a pre-constitution Act, deals with the safety of life and property. Hence, it is important to continue with the enactment by reviewing the provisions of the existing Act and introduction of a new Boilers Bill, 2024 in Parliament. 

The Boilers Act, 1923 was comprehensively amended in the year 2007 by the Indian Boilers (Amendment) Act, 2007 wherein inspection and certification by independent third party inspecting authorities was introduced. However, on further examination of the existing Act, a need has been felt for review of the Act and also to incorporate the decriminalised provisions in consonance with the Jan Vishwas (Amendment of Provisions) Act, 2023.

The existing Act has, accordingly, been reviewed wherein redundant /obsolete provisions have been omitted and certain substantive enabling provisions have been made for the rules and regulations which were not earlier provided. Certain new definitions have also been incorporated and few existing definitions have been amended so as to give more clarity to the provisions of the Bill. (details given in enclosed Annexure)           

Annexure

Salient features of the Boilers Bill, 2024

  1. Act has been divided into six chapters and provisions have been rearranged chapter wise. (In existing Act there are no chapters and similar provisions are at different places).
  2. Following redundant/obsolete provisions in the Boilers Act,1923 have been omitted;

(i) Section 1(2): Applicability of Act to the whole of India,

(ii) Section 2A: Applicability of Act to feed-pipes, and

(iii) Section 2B: Applicability of Act to Economiser.

  1. Following new definitions have been incorporated in the Clause -2 of the Boilers Bill, 2024: 2(k): notification, 2(p): regulations, 2(q): State Government.
  2. Following definitions have been amended in the Clause -2 of the Boilers Bill, 2024 in line with provisions in the Act: 2(d): Boiler component, 2(f): Competent Authority, 2(j): Inspecting Authority.
  3. Decriminalization provisions for the Boilers Act,1923 as contained in the Jan Vishwas (Amendment of Provisions) Bill, have been incorporated in clauses 27, 28, 29, 30, 31, 39 & 42 and two new clauses namely, 35 (Adjudication) & 36 (Appeal) have been incorporated in the Boilers Bill, 2024. Accordingly, for non-criminal offences ‘fine’ has been converted into ‘penalty’ (Clauses: 27, 28, 30(1) and 31).
  4. Following provisions have been incorporated in the Bill for making substantive enabling provisions for the rules and regulations existing in the Act: Clauses, 3(7), 5(8), 10(1)(f), 10(2), 11(2), 12(9), 23(4) & 32(2).
  5. Power of Central Government to make rules (clause 39); Power of Board to make regulations (clause 40) and   Power of State Government to make rules (clause 42) in the Bill have been enumerated in detail, in line with different provisions in the Bill.
  6. Following new provisions have been incorporated in the Bill:
    (i) Clause 43 (Power to remove difficulties): For removal of any difficulty in giving effect to the provisions of the Boilers Act, 2024 within a period of three years

(ii) Clause 44 (Repeal and Saving): For saving different rules, regulations, orders etc. under the Boilers Act,1923 till new rules, regulations, orders etc. are notified under the re-enacted Boilers Act, 2024.

  1. Redrafting of different clauses done as per current drafting practices and referencing of different provisions incorporated.

Topics

Acts Income Tax