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    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
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
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    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
    Show AI Summary
    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.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
    Show AI Summary
    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    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.
    August 1, 2026
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
    Show AI Summary
    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
    Show AI Summary
    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
    Show AI Summary
    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
    Show AI Summary
    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
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    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
    Show AI Summary
    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.

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      Customs & Trade

      Trump says he plans to reach out to North Korea's Kim Jong Un

      January 24, 2025

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      Washington, Jan 24 (AP) President Donald Trump said in an interview that he will reach out to North Korean leader Kim Jong Un, who he described as a “smart guy.” Trump was being interviewed on Fox News by Sean Hannity, who asked the president if he planned to talk to his North Korean counterpart. Trump said he would.

      “I got along with him,” Trump said of Kim. “He's not a religious zealot.” New statement from Hegseth's ex-wife continues to raise questions about his alcohol use A new statement by Pete Hegseth's ex-wife to the FBI continues to raise questions about the alcohol use of Trump's nominee for defence secretary.

      That statement by Samantha Hegseth, the nominee's second wife, is part of an FBI background investigation that was read to Senate Armed Services Committee leadership Mississippi Republican Roger Wicker and Rhode Island Democrat Jack Reed Jan. 16. It said Pete Hegseth had and continues to have a problem with alcohol abuse, a person familiar with the FBI briefing and its findings told The Associated Press.

      Reed has called Hegseth's FBI background check substandard. He said in a statement Thursday that he and Wicker received multiple FBI briefings about the defense secretary nominee, something he had not seen in more than 25 years on the Armed Services Committee, and that “the recent reports about the contents of the background briefings on Mr. Hegseth are true and accurate.” Timothy Parlatore, Hegseth's attorney, said Thursday that “Reed is knowingly lying” because what Samantha Hegseth actually told the FBI is that Pete Hegseth drinks more often than not, but she also acknowledged that she had not spent time with him for about seven years.

      White House asks California congressional members to hold roundtable during Trump visit The White House has asked California congressional members, including Democrats, to hold a roundtable at an airplane hangar in Santa Monica during Trump's visit to the fire-ravaged region of California on Friday afternoon.

      That's according to a person briefed on the plans who spoke on condition of anonymity because they were not authorized to discuss them.

      Congressional Democrats have sharply criticized the new president's threats to withhold federal disaster aid unless California's leaders change the state's approach on its management of water.

      There are currently no plans to visit sites of fire destruction in Altadena, a working class area heavily impacted by the Eaton fire, according to the source familiar, though it was unclear if the president would be visiting other sites.

      Trump reiterates support for full federal recognition for the Lumbee Tribe of North Carolina Trump signed a memo Thursday directing his administration to help advance full federal recognition for the Lumbee Tribe of North Carolina, a distinction that would unlock access to federal funds.

      Congress acknowledged the tribe in 1956 but stopped short of giving the now 55,000-member tribe federal recognition, which has been granted to 574 other Native American tribes in the U.S. Along with federal funds, the designation comes with access to resources like health care through the Indian Health Service. It also creates a pathway for a tribe to secure a land base.

      Trump's memo directs the Department of the Interior, within 90 days, to provide a plan on how to get the Lumbee Tribe federal recognition “through legislation or other available mechanisms.” Treasury Department deploys extraordinary measures' to avoid breaching debt ceiling The Treasury Department says it has deployed “extraordinary measures” to stop the US from breaching the debt ceiling.

      Acting Secretary David Lebryk wrote to congressional leaders on Thursday to inform them about the new measures. He says the Treasury Department stopped paying into the G Fund, a retirement fund for government workers.

      Once the extraordinary measures run out, the government risks defaulting on its debt unless lawmakers and the president agree to lift the limit on the U.S. government's ability to borrow.

      First batch of new forces being deployed to El Paso and San Diego to secure southern borde Active duty military troops will begin arriving in El Paso, Texas, and San Diego on Thursday evening, in what defense officials said is the first batch of the new forces being deployed to secure the southern border.

      The Pentagon announced on Wednesday that about 1,500 troops were being sent to the border this week, as the department scrambles to put in motion President Donald Trump's executive order demanding an immediate crackdown on immigration.

      U.S. officials, who spoke on condition of anonymity to provide details on troop movements, said they expect additional troops to be ordered to deploy in the next few days as defense and homeland security leaders iron out requests for more support.

      The officials said it's not yet clear how many more service members would get tapped in the near future, but they would include active duty, National Guard and Reserves, and come from land, air and sea forces. Other defense and military officials this week estimated that the additional number deployed could be in the thousands.

      Trump's demand for lower interest rates isn't that simple Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep.

      Economic growth is solid, driven by healthy consumer spending. Budget deficits are huge and could get even larger.

      And if Trump follows through on his promises to impose widespread tariffs on imports and deport millions of immigrants, economists expect inflation could worsen, making it less likely the Federal Reserve will cut its key interest rate much this year.

      What to know about Trump's executive order regarding transgender people An executive order that Trump signed on his first day back in office offers a new federal government definition of the sexes that could have a major impact on transgender people.

      The order calls for the federal government to define sex as only male or female and for that to be reflected on official documents such as passports and policies such as federal prison assignments. As for federal spending, it's not clear what his vow to end broader gender classifications will mean on the ground.

      Trump says he is not bothered by Musk's criticism of the Stargate projec Trump said he is unbothered by the fact that Elon Musk has been critical of the Stargate artificial intelligence infrastructure project he announced this week, telling reporters that Musk is critical because one of the people involved in the deal is “one of the people he happens to hate.” Trump brushed aside the clash that's been unfurling online between two of his tech business allies, Musk and OpenAI CEO Sam Altman. Musk has questioned the value of the AI investment, of which OpenAI is a partner.

      “People in the deal are very, very smart people. But, Elon, one of the people he happens to hate. But I have certain hatreds of people, too,” Trump said. The president did not elaborate.

      Trump pardons anti-abortion activists who blockaded clinic entrances Trump announced Thursday he would pardon anti-abortion activists convicted of blockading abortion clinic entrances.

      Trump called it “a great honor to sign this.” “They should not have been prosecuted,” he said as he signed pardons for “peaceful pro-life protesters.” Among the people pardoned were those involved in the October 2020 invasion and blockade of a Washington clinic.

      In the first week of Trump's presidency, anti-abortion advocates have ramped up calls for Trump to pardon protesters charged with violating the Freedom of Access to Clinic Entrances Act, which is designed to protect abortion clinics from obstruction and threats. The 1994 law was passed during a time where clinic protests and blockades were on the rise, as well as violence against abortion providers, such as the murder of Dr. David Gunn in 1993.

      Trump says no date set yet for new tariffs on China Trump said he hasn't set a date on imposing new tariffs on China, but he's reiterating that he wants a 10% tax on Chinese imports in retaliation for it making the chemicals used in fentanyl.

      Trump told reporters in the Oval Office Thursday that he still plans to tariff Canada and Mexico at 25% rates starting as soon as Feb. 1. He said he was comfortable charging higher tariffs on those countries because he had already placed higher tariffs on China during his first term.

      Trump says he expects Fed to listen to him on lowering rates Trump says he expects a chain reaction in which lower oil prices will lead to lower interest rates across the U.S. economy, but he also plans to bring up the issue with Federal Reserve Chair Jerome Powell.

      Trump told reporters in the Oval Office that “when the energy (prices) comes down” it would also knock down overall inflation and “automatically bring the interest rates down.” Asked if he expects the Fed to listen to him on rates, Trump said: “Yeah.” Trump says he will talk to Powell about lowering rates “at the right time.” The Fed controls short-term rates that influence inflation and the supply of money in the economy.

      Trump has talked to lawmakers about reshaping FEMA Trump is preparing to reshape the Federal Emergency Management Agency, which has been on the frontlines of responding to recent wildfires in California and last year's hurricane in North Carolina.

      He spoke at length about the issue with congressional Republican leaders on Tuesday, discussing whether the agency should continue providing assistance to states in the same way, according to a person familiar with the conversation who spoke on condition of anonymity to discuss it.

      Conservatives have previously suggested reducing the amount that states are reimbursed for preventing and responding to disasters like floods, tornadoes, hurricanes and more.

      ?Read more about Trump's plans for FEMA The Department of Justice will vigorously defend' Trump's executive order redefining birthright citizenship In a statement after the federal judge's ruling Thursday that temporarily blocked the order, the department said the executive order “correctly interprets the 14th Amendment of the U.S. Constitution.” “We look forward to presenting a full merits argument to the Court and to the American people, who are desperate to see our Nation's laws enforced,” the department said.

      US District Judge John Coughenour in Seattle called the executive order “blatantly unconstitutional” during the first hearing Thursday in a multi-state effort challenging the order.

      Trump says he's open to meeting people charged or convicted for the Jan 6 Capitol attack President Donald Trump says he's open to meeting with the roughly 1,500 people charged or convicted for their roles in the Jan. 6, 2021 Capitol attack whom he pardoned on Monday in his first hours in the White House.

      Trump said he didn't know if he would meet with those who faced criminal consequences for trying - violently in many cases - to prevent Congress from certifying his 2020 election defeat, but added, “I'd be open to it, certainly.” Trump expected to give prerecorded address to March for Life President Donald Trump is expected give a prerecorded video address to anti-abortion protesters Friday at the annual March for Life in Washington, D.C.

      The news come after Trump offered vague, contradictory answers to questions on abortion on the campaign trail and often attempted to distance himself from anti-abortion allies, despite boasting about nominating three Supreme Court justices who helped strike down a federal right to abortion.

      “This pro-life president has gone nowhere,” said Marjorie Dannenfelser, president of the national anti-abortion group SBA Pro-Life America, while announcing Trump's appearance during a Thursday press briefing.

      Abortion rights advocates pointed to his appearance at the event as evidence of what they've been saying all along -- that Trump cannot be trusted to stay out of abortion rights.

      “No matter what they said on the campaign trail to win an election, this shows their intentions to continue to attack abortion access,” said Ryan Stitzlein, vice president of political and government relations for the national abortion rights organization Reproductive Freedom for All. “This is just proving us right.” (AP) NSA NSA

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