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September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.
August 31, 2026
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Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.
August 31, 2026
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Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.

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News and Press Release

PM Gati Shakti: Transforming India's Infrastructure and Connectivity

October 14, 2024

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On the 75th Independence Day, Prime Minister Narendra Modi announced the ‘PM Gati Shakti’ initiative during his address to the nation from the ramparts of the Red Fort. The National Master Plan for Multi-modal Connectivity, launched on October 13, 2021, is set to celebrate its third anniversary this Sunday. This digital platform is designed to bring various Ministries, including Railways and Roadways, to ensure integrated planning and coordinated execution of infrastructure projects. The initiative aims to provide seamless and efficient connectivity for the movement of people, goods, and services across various modes of transport, thereby enhancing last-mile connectivity and reducing travel time.

PM Gati Shakti incorporates the infrastructure schemes of various Ministries and State Governments such as Bharatmala, Sagarmala, inland waterways, dry/land ports, and UDAN. PM Gati Shakti incorporates the infrastructure schemes of various Ministries and State Governments such as Bharatmala, Sagarmala, inland waterways, dry/land ports, and UDAN.

Gati Shakti: Central Ministries and State Participation

The PM Gati Shakti National Master Plan (NMP) has onboarded 44 Central Ministries and 36 States/UTs and a total of 1,614 data layers have also been integrated. To ensure data accuracy, key infrastructure ministries have finalised Standard Operating Procedures (SOPs) for a three-tier system. SOPs for 8 infrastructure ministries and 15 social sector ministries have been notified, with development continuing for other ministries and States/UTs. A ‘Compendium on PM Gati Shakti National Master Plan’ on data management, prepared by DPIIT, outlines the stakeholder responsibilities.

A ‘Compendium of PM Gati Shakti Volume I and Volume II’ has been developed and launched, that highlights the success stories of PM Gati Shakti. A milestone of assessing 208 big-ticket infrastructure projects worth Rs. 15.39 lakh Crores, of various Ministries adhering to PM Gati Shakti principles has been achieved. Additionally, 434 projects under three economic corridors of the Ministry of Railways have been evaluated and shared with the PMO and they are Energy, Mineral, and Cement Corridors, High Traffic Density Corridors and Rail Sagar.

District-Level Integration

A District Master Plan (DMP) portal is being developed to extend PM Gati Shakti to the district level. This portal will aid district authorities in collaborative planning, infrastructure gap identification, and scheme implementation. A beta version of this portal has already been created for 28 aspirational districts, and user accounts were provided to these districts on September 18th, 2024. Trial runs of the portal are ongoing, with orientation programs in October 2024. The DMP portals for all the country's districts will be developed in a phased manner and completed by March 31, 25.

Key Accomplishments under PM GatiShakti National Master Plan (NMP)

The PM GatiShakti NMP has resulted in numerous achievements across various sectors, significantly improving project planning, speed, and execution.

  • The Ministry of Road Transport and Highways (MoRTH) planned over 8,891 km of roads using NMP, while the Ministry of Railways (MoR) used NMP to plan more than 27,000 km of railway lines. MoR also accelerated the completion of Final Location Surveys (FLS), completing 449 FLS in FY ’22 compared to 57 in FY ’21.
  • The Ministry of Petroleum and Natural Gas (MoPNG) streamlined the process for Detail Route Survey (DRS), reducing the time required to create reports from 6-9 months to just one day using electronic DRS (eDRS).
  • Using NMP principles, a 13 GW renewable energy project from Leh (Ladakh) to Kaithal (Haryana) achieved optimal alignment of the ‘Green Energy Corridor’ for inter-state transmission.
  • Goa used the NMP platform to develop a disaster management plan for flood-prone areas along the Amona River.
  • The Uttar Pradesh government employed the State Master Plan (SMP) portal to identify locations for new schools in underserved areas via the Pahunch Portal.
  • Gujarat planned its 300 km coastal corridor using NMP, which reduced the number of NoC permissions required for clearance from 28 to 13, enhancing connectivity between four districts while boosting tourism.
  • The Department of School Education and Literacy used the NMP portal to link PM Shri Schools with local industries for district-specific skill training.
  • The Ministry of Health and Family Welfare identified internet shadow areas and mapped sites for new healthcare facilities using NMP.
  • The Ministry of Skill Development & Entrepreneurship utilized NMP to identify suitable locations for new training institutes near economic clusters.
  • The Ministry of Rural Development integrated schemes such as PMGSY and PMAY-G for better asset planning and implementation.
  • The Ministry of Tribal Affairs identified infrastructure gaps for Particularly Vulnerable Tribal Groups (PVTG) using the PM JanMan portal.

These accomplishments highlight the NMP's broad utility in improving planning, efficiency, and collaboration across various ministries and sectors.

National Logistics Policy (NLP) 2022: Progress and Key Initiatives

The National Logistics Policy (NLP) was launched on 17th September 2022 to boost India’s economic growth by creating an integrated, efficient, and cost-effective logistics network. The policy aims to reduce logistics costs, improve India's Logistics Performance Index (LPI) ranking to be among the top 25 countries by 2030, and promote data-driven decision-making. Implementation is driven by the Comprehensive Logistics Action Plan (CLAP), focusing on areas such as digital logistics systems, asset standardization, human resource development, state engagement, and EXIM logistics.

The policy emphasizes training and capacity-building efforts in collaboration with the Capacity Building Commission (CBC). Training modules are integrated with Central and Administrative Training Institutes through webinars, workshops, and digital platforms.

State Logistics Plans (SLPs): 26 States and Union Territories have aligned with the National Logistics Policy (NLP) by notifying their State Logistics Policies to enhance focus on logistics in public policy.

LEADS Survey: The fifth edition of the Logistics Ease Across Different States (LEADS) report was launched in December 2023, with the sixth edition released in January 2024. LEADS assesses logistics ease based on infrastructure and services across States and UTs.

Unified Logistics Integrated Platform (ULIP): ULIP integrates 33 logistics-related systems across 10 Ministries, promoting innovation. Currently, over 930 private companies are registered, with 95 applications made live and 185 companies signing NDAs. ULIP also integrates GST data for end-to-end cargo tracking.

Logistics Data Bank (LDB): For tracking and tracing 100% of India’s containerized EXIM cargo, the Logistics Data Bank (LDB), has been developed. LDB uses RFID technology through the Internet of Things (IoT), Big Data and Cloud-based solutions to provide real-time tracking of EXIM container movement in India. It is a single window, cloud-based logistics visualization solution which provides container movement tracking using only the container numbers; from the Ports to Inland Container Depot’s/ Container Freight Stations; and across the port associated Parking Plazas, Toll Plaza & Railways.

Improving LPI Rank

A dedicated LPI Action Plan has been created, involving multiple ministries (MoRTH, MoR, MoPSW, MoCA) to address logistics challenges across six LPI parameters. Continuous engagement with the World Bank has resulted in discussions on logistics efficiency, reforms, and LPI methodology, along with a national workshop held in February 2024.

The policy incorporates global best practices, collaborating with the Asian Development Bank (ADB) and Korea’s LPI improvement strategies. A round table with the World Bank was held in the U.S. in March 2024 to discuss innovative approaches and logistics improvements for India.

Through these efforts, NLP is driving India towards a more efficient logistics ecosystem while enhancing global competitiveness.

Gati Shakti Sanchar Portal

Universal and equitable access to Broadband services across the country, especially in the rural areas- is one of the most important visions of Prime Minister Narendra Modi. In line with the PM Gati Shakti National Master Plan, “Gati Shakti Sanchar” portal was launched for Centralised Right of Way (RoW) approvals on May 14, 2022.

The Gati Shakti Sanchar portal is a major reform brought in to facilitate faster rollout of telecom infrastructure. It is a Centralised Right of Way (RoW) Portal that enables applicants such as Telecom Service Providers/Infrastructure Providers / Internet Service Providers (TSP/IP/ISPs) to apply for RoW approvals. As on October 11, 2024, 2.11 lakh applications have been approved.

The portal is integrated with all 36 States /UTs and with relevant central ministries viz. Ministry of Railways (MoR), Ministry of Road, Transport and Highways (MoRTH), Ministry of Environment, Forest and Climate Change (MoEFCC) and Ministry of Defence (MoD).

5G services were launched in India on 1st October 2022. More than 13 Cr subscribers have begun to use 5G services, making it the fastest roll-out of 5G anywhere in the world. To further improve telecom connectivity in the country, Government is implementing various schemes.

A total of 41,160 mobile towers have been sanctioned with an outlay of Rs. 41,331 Cr to

provide 4G connectivity to about 55 thousand villages.

Scope of BharatNet program has been expanded to connect all inhabited villages with an

outlay of 1.88 Lakh Cr

Conclusion

The PM Gati Shakti initiative represents a transformative approach to infrastructure development in India, aiming to create a seamless and efficient multimodal transportation network. By integrating the efforts of various ministries and leveraging advanced technologies, this initiative seeks to enhance connectivity and reduce logistics costs across the nation. The Gati Shakti Sanchar portal further supports this vision by streamlining the Right of Way approvals process, accelerating telecom infrastructure rollout, and facilitating the rapid deployment of 5G services across the country. With these combined efforts, India is well-positioned to achieve its ambitious goals of Aatmanirbharta.

References

https://pmgatishakti.gov.in/pmgatishakti/login

https://www.india.gov.in/spotlight/pm-gati-shakti-national-master-plan-multi-modal-connectivity

https://pmgatishakti.gov.in/pmgatishakti/about_pmgati

PMGATISHAKTI TRANSFORMING INDIA’S INFRASTRUCTURE - https://static.pib.gov.in/WriteReadData/specificdocs/documents/2023/apr/doc2023427188001.pdf

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1825332

Rajya Sabha Unstarred Question No. 56 Dated February 02, 2024

https://gatishaktisanchar.gov.in/

https://pib.gov.in/PressNoteDetails.aspx?NoteId=152010&ModuleId=3

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