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September 2, 2026
Show AI Summary
Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
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E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
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Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
Show AI Summary
Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
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Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.
September 1, 2026
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Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
September 1, 2026
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Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
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Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.
September 1, 2026
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Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
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Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
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Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
September 1, 2026
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Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
September 1, 2026
Show AI Summary
GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
Show AI Summary
Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
September 1, 2026
Show AI Summary
Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
Show AI Summary
Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
Show AI Summary
Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
Show AI Summary
Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
Show AI Summary
Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.

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Customs, DGFT & SEZ

Union Budget 2012-13.

March 16, 2012

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Amendments to be Moved to Banking Laws and Insurance Laws.

Government Takes Steps to Finalize Pricing and Investment Policies for Urea.

Delhi-Mumbai Industrial Corridor Receives Us $ 4.5 Billion from Japan.

Manufacturing Sector Provided Relief in Customs Duty Customs Duties on Imported Plant and Machinery for Iron Ore Plants Reduced to 2.5 Per Cent.

Rs. 5000 crore India opportunities venture fund with SIDBI Announced Two SME Exchanges Launched in Mumbai Ministries and CPSES to Make Minimum of 20% Purchase From MSEs.

Health and Nutrition Gets Major Boost in the Budget 2012-13; Six Life Saving Drugs Exempted from Excise Duty.

Concessions and Exemptions Extended to Energy Saving Devices, Plants and Equipments Required for Solar Thermal Projects.

ECBS to Part Finance Power Project DEBT Inter-Ministerial Group for Periodical Group of Allocated Coal Mines.

Financial Package of Rs. 3884 Crore for Waiver of Handloom Loans Two Mega Handloom Clusters to be Set up in Andhra Pradesh and Jharkhand Rs. 500 Crore Geo-Textile Pilot Scheme and Weavers’ Service Centre for North-East.

Excise Duty on ‘Demerit’ Goods Hiked as a Measure for Additional Resource Mobilisation.

Union Budget Focuses on Rationalisation Measures in Indirect Taxes.

ECB Allowed for Low Cost Housing Rs. 4,000 Crore Allocated for Rural Housing Fund Indirect Finance Under Priority Sector Doubled.

Budget Aims at Creating Enabling Atmosphere for All Sections Baggage Allowance Increased in the Budget.

ECB for Working Capital Allowed in Civil Aviation Direct Import of ATF by Indian Carrierspermitted 49% Participation in Equity by Foreign Airlines Under Consideration.

Rajiv Gandhi Equity Savings Scheme Launched.

14% Hike in Allocation for Road Transport & Highways ECB to be Allowed for Capital Expenditure on O&M of Toll Roads 8,800 Km Target Set For NHDP.

Several Steps Proposed to Deepen the Reforms in Capital Market.

Government Undertakes Financial Sector Legislative Reforms.

Harmonized Master List of Infrastructure Approved Infrastructure Debt Fund of Rs. 8000 Crore Launched Defence Psus Can Form JVs FOR PPPs.

Rs. 15,888 Crore Provided for Capitalization of Public Sector Banks/RRBS and Other Financial Institutions.

Rs. 50 Lakh Crore Allocated to Infrastructure in Twelfth Plan; 50% Expected from Private Sector Tax Free Bonds for Financing Infrastructure Doubled to Rs. 60,000 Crore More Sectors Eligible for Viability Gap Funding.

Financial Inclusion Scheme ‘Swabhimaan’ to be Extended to Habitations with Population of More Than 1000 in North Eastern and Hilly States and More Than 2000 in Other Habitations as Per Census 2011.

Scheme for Capitalisation of Financially Weak Rrbs Extended by Another Two Years.

Efforts to Arrive at a Broad Based Consensus on Allowing FDI in Multi-Brand Retail Trade Up to 51%.

Advance Pricing Agreement Introduced.

Service Tax Exempted on Copyrights Relating to Recording of Cinematographic Films.

Aadhaarenrolments to Rise by 40 Crores in the Next Year, Adequate Funds Assured.

Curbing the Black Money A Priority Concern for the Government; Number of Proactive Steps To Tackle the Malaise Announced; White Paper to be Laid in Current Session Itself: FM.

Service Tax Exempted for Items on Negative List Health Care, Services Provided by Charities, Religious Persons, Independent Journalists, Sportspersons Among Others also Exempted from Service Tax.

Farmers Have Reasons to Smile: Agriculture Credit Increased to Rs. 5,75,000 Crore, Farmers to Get a Smart Card to Get Easy Money From ATMs.

One Page Common Return for Central Excise and Service Tax Proposed.

Service Tax Rate Raised from 10 Per Cent to 12 Per Cent.

New Missions Proposed in the 12th Five Year Plan Amalgamating Host of Activities inthe Agriculture Field.

Duty on Large Cars Enhanced from 22 Per Cent to 24 Per Cent.

Plan Outlay for Agriculture & Cooperation Increased by 18%.

Basic Customs Duty Reduced in Agriculture & Relataed Sectors.

Fiscal Deficit to be Brought Down to 5.1% of GDPIN 2012-13 From 5.9% In 2011-12.

Full Exemption from Basic Customs Duty Given to Certain Infrastructure Sectors.

Gross Tax Receipts Estimated at Rs. 10,77,612 Crore-19.5% Increase Over 2011-12 Re Indirect Tax Revenue Growth Estimated at 26.7% &Direct Tax Revenue Growth at 13.9% Over 2011-12. Total Expenditure Estimatedrs. 14,90,925 Crore.

Computerised PDSTO Become Operational by December 2012.

Panchayats to be Strengthened Through Rajiv Gandhi Panchayat Sashaktikaran Abhiyan.

Multisectoral Plan to Fight Malnutrition in 200 High Burden Districts.

Measures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore.

Government to Achieve Vaccine Security.

Swarnajayanti Gram Swarojgar Yojana Restructured into National Rural Livelihood Mission.

Lumpsum Grant Under National Family Benefit Scheme Doubled.

STT Proposed to be Reduced by 20 Per Cent GAAR PANEL Mooted to Counter Aggressive Tax Avoidance Schemes Levy of Alternate Minimum Tax Proposed to be Extended.

To Promote Investment, Weighted Deduction for Expenditure in R&D and AGRI-Extension Services Proposed Sunset Date for Tax Exemption in Power Sector Extended.

Slew of Measures Proposed to Deter Generation and Use of Unaccounted Money Tax Collection at Source on Cash Purchase of Bullion/Jewellery Above Rs. 2 Lakh Tax Collection at Source on Trading in Coal, Lignite and Iron Ore Unexplained Money to be Taxed at 30 Per Cent.

Measures Introduced to Allow Corporates to Access Lower Cost Funds; Promote Higher Level of Investments in Several Sectors Rate of Withholding Tax on Interest Payments on ECBs Proposed to be Reduced to 5 Per Cent From 20 Per Cent Restriction on Venture Capital Funds to Invest in Specified Sectors Removed Rate of Investment Linked Deduction of Capital Expenditure Proposed to be Enhanced to 150 Per

Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh Deduction up to Rs. 10,000 Proposed for Savings Bank Interest Senior Citizens not Having Income from Business Exempted from Payment of Advance Tax ,

Buy Backs, Stock Exchange Listings Allowed to PSUs in Divestmentmode Rupees 30,000 Crores to Raised Through Disinvestment.

Government Keen on Early Enactment of DTC Bill Model Legislation for GST on the Anvil National Information Utility to be Operational by August.

GENERAL BUDGET 2012-13 Unviable, Ineffective Subsidies may be Revisited; Central Subsidies to be Brought Down to 1.75 Per Cent of GDP in three Years Fertilizer Management System to Roll Out this Year Aadhaar- Enabled Payments in Over 50 Districts in Six Months.

Dip in Tax Revenue & Increased Subsidies hit Fiscal Balance Amendments Introduced to FRBM ACT .

Union Budget 2012-13 Summary.

Union Budget 2012-13 Highlights

Topics

Acts Income Tax