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    MPC's 3-day meeting begins amid expectations of status quo on interest rates
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    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
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
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    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
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    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
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    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    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.

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      Customs, DGFT & SEZ

      83rd Meeting of Network Planning Group (NPG) under PM GatiShakti evaluates 8 key Infrastructure projects - NPG assesses Rail and Road projects

      November 18, 2024

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      The 83rd meeting of the Network Planning Group (NPG), chaired by Additional Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Sh. Rajeev Singh Thakur, convened today to evaluate significant infrastructure projects across India. Representatives from project proponents, Bhaskaracharya National Institute for Space Applications and Geoinformatics (BISAG-N), and nodal officers from respective States participated, focusing on enhancing multimodal connectivity and logistics efficiency in alignment with the PM GatiShakti National Master Plan (PMGS NMP).

      The NPG evaluated all eight projects based on the principles of PM GatiShakti: integrated development of multimodal infrastructure, last-mile connectivity to economic and social nodes, intermodal connectivity, and synchronised project implementation. These projects are anticipated to play pivotal roles in national development by boosting logistical efficiency, reducing travel times, and delivering substantial socio-economic benefits to the regions they serve.

      Upon completion, these projects are expected to significantly contribute to India's infrastructure landscape, ensuring that the advantages of seamless connectivity extend to every region. By strengthening multimodal transport systems and addressing critical infrastructure gaps, these initiatives align with the Government's vision for integrated and sustainable development. The evaluation and anticipated impacts of these projects are detailed below:

      A. Projects of the Ministry of Railways (MoR)

      1. Wardha - Balharshah 4th Line

      This 134.52 km Brownfield project addresses critical congestion on the Delhi-Chennai High-Density Corridor passing through Wardha and Chandrapur districts in Maharashtra. The region is home to key industrial hubs, including the Chandrapur Super Thermal Power Station and Ballarpur Paper Mills, and serves coal belts operated by Western Coalfields Limited (WCL) in Chandrapur.

      The proposed 4th line, parallel to the under-construction 3rd line, would help to alleviate over 152%-line utilisation, ensuring seamless freight movement for coal, steel, and cement industries. Enhanced connectivity with Nagpur and ports on the eastern and western coasts is expected to strengthen supply chains and contribute to economic development in the Vidarbha region.

      1. Itarsi - Nagpur Quadrupling

      This Brownfield project involves the construction of a 4th rail line along the 297.05 km Itarsi-Nagpur corridor, a key segment of the High-Density Network Route. Connecting Narmada Puram, Betul, and Nagpur districts, it is anticipated to serve industrial hubs like Multi-Model International Passenger and Cargo Hub Airport at Nagpur (MIHAN), power plants at Sarni and Koradi, and emerging clusters in Pithampur.

      With oversaturation of existing lines and growing freight demands, the project, as assessed, is likely to help alleviate congestion, reduce transit times, and enhance logistics efficiency. Featuring tunnels, wildlife crossings, and improved connectivity, it is expected to align with PM GatiShakti and contribute to regional economic growth.

      1. Gondia - Balharshah Doubling

      Spanning approximately 240 km through Gondia, Bhandara, Gadchiroli, and Chandrapur districts, this doubling project is anticipated to support freight movement for key industrial regions. The route links major iron-ore mines in Kelzar and coalfields in Chandrapur, enabling smoother transport to industries in the South Central and South Eastern Railway zones. It is also expected to benefit power plants like Koradi and industries in Nagpur’s MIHAN SEZ.

      The project is likely to reduce freight congestion on the existing line, which is currently operating at 125% utilisation, by offering an alternate, shorter route for North-South freight traffic. By enhancing logistical efficiency, it is expected to strengthen connections between industrial clusters and major ports, supporting regional and national economic integration.

      1. Aluabari - New Jalpaiguri Quadrupling

      This 56.60 km quadrupling project seeks to enhance rail connectivity in North Bengal and Bihar, linking New Jalpaiguri and Aluabari Road. The corridor is anticipated to support passenger and freight movement, critical for transporting agricultural produce, cement, and industrial goods. The alignment includes robust infrastructure, such as 8 major and 91 minor bridges, designed for efficient and reliable operations in challenging terrain.

      As a gateway to neighbouring countries like Nepal, Bhutan, and Bangladesh, the project is expected to reduce travel time, boost regional trade, and promote economic integration. By addressing the increasing demand for seamless transportation, it is likely to support socio-economic development in the Northeast and improve multimodal connectivity under the PM GatiShakti framework.

      1. Ballari - Chikjajur Doubling

      The 185 km doubling project aims to connect Ballari, Chitradurga, and Anantapur districts, facilitating the movement of iron ore, coal, cement, and food grains. It is expected to support industrial hubs like Jindal Steel, which is planning to expand production to 24 MTPA, while addressing freight demands linked to southern ports. The project is anticipated to alleviate line saturation, improving efficiency in freight movement and enhancing rail capacity.

      By connecting remote areas to national infrastructure, the project is likely to promote socio-economic growth and attract investments in Karnataka and Andhra Pradesh. It is also expected to create employment during construction and operation, lower transportation costs for industries, and strengthen integration within India’s multimodal logistics network.

      1. Hosur - Omalur Doubling

      This 147 km rail line doubling project aims to connect the agro-industrial region of Hosur with the commercial hub of Salem in Tamil Nadu. The route is expected to support critical sectors such as cement manufacturing, agro-processing, and automobile logistics, while maintaining strong linkages to Bangalore’s electronics and IT corridor.

      By enhancing multimodal connectivity, the project is likely to link industrial hubs like the Salem Steel Plant, TNPL, and surrounding SEZs with Bangalore and Salem airports. It is anticipated to address capacity constraints, improve freight efficiency, support tourism, and foster broader regional economic integration.

      1. Secunderabad - Wadi Quadrupling

      The 173.18 km project aims to construct 3rd and 4th lines between Secunderabad and Wadi, a critical freight and passenger corridor in South Central India. It is expected to serve industrial hubs such as Tandur (cement), Sedam, and Nagulapalli (steel), facilitating the movement of coal, cement, and food grains. With current utilisation exceeding 114%, the project is anticipated to alleviate congestion, enhance reliability, and support freight growth for industries across Telangana and Karnataka.

      By improving connectivity to major ports and urban centers, the quadrupling is likely to reduce transit delays and accommodate future traffic demands. By easing pressure on existing infrastructure, the project aligns with PM GatiShakti principles, potentially fostering regional economic growth, enhancing passenger convenience, and supporting socio-economic development.

      B. Ministry of Road Transport and Highways (MoRTH)

      1. Imphal - Kakching - Lamkhai Road on NH-137A

      This 44.517 km road improvement project aims to connect Imphal, the state capital, with Kakching, an emerging agricultural and trade hub. Strategically located within Manipur’s Indo-Myanmar corridor, the project is expected to enhance access to the Moreh border trade point and integrate with the Asian Highway Network.

      The upgraded NH-137A is anticipated to reduce travel time, support the movement of agricultural produce, and improve connectivity to Loktak Lake, a major tourist destination. By strengthening socio-economic linkages, the project is likely to boost small-scale industries, facilitate trade, and create opportunities for cross-border commerce.

      ***

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