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    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
    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
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    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.
    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
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    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
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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.
    August 1, 2026
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    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
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    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.

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      CAPACITY ADDITION IN PHYSICAL CONNECTIVITY SECTORS STAYS ON COURSE DURING FY25: ECONOMIC SURVEY 2024-25

      January 31, 2025

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      CONTINUED STEP-UP OF INFRASTRUCTURE INVESTMENT OVER THE NEXT TWO DECADES IS NEEDED TO SUSTAIN A HIGH RATE OF GROWTH

      EXPANSION OF RAILWAY NETWORK STAYS AT LEVELS COMPARABLE TO THE PREVIOUS YEAR, ROLLING STOCK INCREASED CONSIDERABLY

      PORT CAPACITY IMPROVES SIGNIFICANTLY IN FY25, AVERAGE CONTAINER TURNAROUND TIME REDUCES SUBSTANTIALLY

      619 ROUTES CONNECTING 88 AIRPORTS OPERATIONALISED UNDER UDAN SCHEME

      AIRPORT CARGO HANDLING CAPACITY REACHES 8.0 MILLION MT IN FY24

       

      The Economic Survey stated that the capacity addition in physical connectivity sectors stayed on course during FY25. India’s development aspirations in the coming decade entail substantial investment in infrastructure, states the Economic Survey 2024-25, which was tabled by Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman in the Parliament today.  

      RAILWAYS

      The progress in the expansion of the railway network stayed at levels comparable to the previous year, while the addition of rolling stock increased considerably. The focus on railway station infrastructure and modernisation of locomotives and coaching stock have improved passenger amenities in the railway sector. Indian Railways is also modernising its signalling and safety systems to enhance operational efficiency and safety across its vast network. Elimination of mechanical signaling, Kavach Automated Train Protection system, Electronic interlocking, Automatic Block Signalling, Signal design automation tool for electronic interlocking are some of the initiatives in this regard.

      Recent initiatives in the rail system

      • Gati shakti multi-modal Cargo Terminal (GCT): 91 GCTs commissioned and 234 locations approved by October 31, 2024.

      • Net zero carbon emission: Indian Railways targets 30 GW of renewable energy by 2029-30, with 375 MW of solar and 103 MW of wind commissioned as of October 2024.

      • Major economic corridors: 434 projects valued at ₹11.17 lakh crore have been identified under three railway corridors, mapped on the PM GatiShakti portal.

      • Public Private Partnership (PPP): 17 projects have been completed (₹16,434 crore) and 8 ongoing (₹16,614 crore) under the PPP model

      • Vande Bharat trains: Between April and October 2024, 17 new pairs of Vande Bharat trains were introduced to the network, and 228 coaches were produced.

       PORTS, SHIPPING AND INLAND WATERWAYS

      Port capacity improved significantly in FY25, leading to improvements in operational efficiency and reduction in average container turnaround time in major ports from 48.1 hrs in FY24 to 30.4 hrs in FY25 (April-November).

      Initiatives in Ports, Shipping and Inland Waterways Sector

      • The Central Government approved 98 PPP projects, including 23 captive projects, worth around ₹69,800 crore, excluding the Vadhavan Port Project with a PPP investment of ₹38,000 crore.
      • Currently, 56 projects valued at ₹41,480 crore are operational, increasing port capacity by approximately 550 million tonnes per annum (MTPA).
      • In October 2024, the National Maritime Heritage Complex in Lothal was approved, featuring a museum with 14 galleries, the tallest lighthouse museum, India’s largest Navy gallery and themed amusement parks.
      • The international container transshipment port at Galathea Bay, Great Nicobar Island, has been planned to enhance cargo transshipment from Indian East Coast ports and neighbouring countries.
      • Urban Waterways Projects, valued at ₹1,303 crore, are underway, with 16 of the 30 projects already completed, benefitting over 35 lakh passengers while facilitating the transport of more than 5 lakh vehicles and 1 lakh cargo trucks.
      • India is enhancing waterway connectivity to the North-East by developing waterways in Bangladesh and funding 80 per cent of the ₹305 crore project.
      • India is also investing ₹1,010 crore to improve the Brahmaputra and Barak rivers and the Indo-Bangladesh Protocol route.

      ROAD TRANSPORT

      India has a total road network of 63.4 lakh km, including National highway (NH) network of 146,195 km. NH network forms the arterial backbone of road transport network as even though it comprises only 2 per cent of total road network yet it carries about 40 per cent of the overall road freight traffic.

      Initiatives in Road Transport Sector

      • The shift from project-based national highway development to corridor-based approach helped increase the highway length from 91,287 km in 2014 to 1.46 lakh km in 2024.
      • Bharatmala Pariyojana, Char Dham Mahamarg Pariyojna, National High-Speed Corridors and 4-lane and above - National Highways.
      • Key initiatives undertaken to improve road connectivity include advanced traffic management on highways, establishment of logistics parks, sustainable vehicle scrapping, and ongoing ropeway projects.

      CIVIL AVIATION

      Airport operators and developers, including the Airports Authority of India, are pursuing a capital expenditure plan exceeding ₹91,000 crore from FY20 to FY25. About 91 per cent of this has been achieved by November 2024.

      Initiatives in Civil Aviation

      • Under UDAN scheme, 619 routes connecting 88 airports, including two water aerodromes and 13 heliports, have been operationalised so far.
      • The airport's cargo handling capacity has been gradually increasing, reaching 8.0 million MT in FY24

      DIGITAL CONNECTIVITY

      Digital connectivity has made major advancements in digital inclusion, technological innovation, and regulatory reforms this fiscal year, all in line with the government's vision for a Digital India.

      Initiatives in Digital Connectivity

      Telecommunications

      • By October 31, 2024, 5G services were launched in all states and union territories.
      • In August 2024, the Universal Service Obligation Fund was rechristened Digital Bharat Nidhi (DBN). Bharat Net Project, Comprehensive telecom development plan for north-eastern region, Telecom development for Andaman & Nicobar Islands and Lakshadweep Islands, Mobile services in uncovered areas and Aspirational districts scheme are some initiatives under DBN.

      Information Technology

      • As of November 30, 2024, the National Informatics Centre supports 1,917 applications on its cloud, under MeghRaj, the GI Cloud initiative.
      • The government has empanelled 23 public and private cloud service providers to address the cloud needs of user departments.

      Economic Survey 2024-25 states that India needs a continued step-up of infrastructure investment over the next two decades to sustain a high rate of growth. Accelerating our efforts to build integrated multi-modal transport, coupled with the modernization of existing physical assets, will improve efficiency and last-mile connectivity.

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