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    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
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    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
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    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
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    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.
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    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.
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    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.

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      Sonia Gandhi's 'poor thing...' remarks about Prez Murmu spark controversy; Rashtrapati Bhavan says 'unacceptable'

      January 31, 2025

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      New Delhi, Jan 31 (PTI) Congress leader Sonia Gandhi's "poor thing and very tired" remarks about President Droupadi Murmu after the latter's hour-long address to Parliament on Friday snowballed into a huge controversy, with the Rashtrapati Bhavan saying they were in "poor taste, unfortunate and unacceptable." Prime Minister Narendra Modi also tore into the Congress, accusing its 'shahi parivaar'(royal family) of insulting the President, who hails from a tribal background, and claiming that the party has always undermined the progress of those who come from marginalized communities.

      The Rashtrapati Bhavan came out with a statement to say the remarks clearly hurt the dignity of the high office.

      As several BJP leaders condemned Sonia Gandhi's remarks, party chief J P Nadda said they were "deeply disrespectful", and underscored the opposition's "continued disregard" for the dignity of the highest constitutional office. Parliamentary Affairs minister Kiren Rijiju demanded an apology from the former Congress president.

      The Congress hit back and said every person in India has respect and empathy for President Murmu but claimed that the BJP leaders cannot digest Sonia Gandhi's "empathy" for her health.

      Soon after the President concluded her customary address to a joint sitting of Parliament to mark the start of the Budget session, Sonia Gandhi, Leader of the Opposition in the Lok Sabha Rahul Gandhi and Congress MP Priyanka Gandhi Vadra, also a party general secretary, were seen discussing the speech in the Parliament complex.

      "The poor lady, the President, was getting very tired by the end... she could hardly speak, poor thing," Sonia Gandhi was heard saying in a video doing the rounds on social media.

      During the discussion, Rahul Gandhi was also heard asking his mother if the President's speech was "boring".

      When asked to comment on Sonia's comments, Priyanka Gandhi said her mother has the utmost respect for the President and that it is very unfortunate her remarks have been allegedly "twisted by the media".

      She also hit out at the BJP's demand for an apology over the issue, saying it should first apologise for "ruining the country".

      The Rashtrapati Bhavan statement said it believes that "it might be the case that the Congress leaders were not acquainted with the idiom and discourse in Indian languages such as Hindi, and thus formed a wrong impression".

      "In any case, such comments are in poor taste, unfortunate and entirely avoidable." In their reactions to the President’s address, some prominent leaders of the Congress party have made comments that clearly hurt the dignity of the high office, and therefore are unacceptable, the statement noted.

      "These leaders have said that the President was getting very tired by the end and she could hardly speak. Rashtrapati Bhavan would like to clarify that nothing could be farther from the truth.

      "The President was not tired at any point. Indeed, she has believed that speaking up for the marginalised communities, for women and farmers, as she was doing during the course of her address, can never be tiring," the statement said.

      Latching onto Congress leaders' remarks about President Murmu, Modi said, "These Congress people think they are the masters of the country. The arrogance of the Congress' royal family has once again been exposed." "The royal family of Congress stooped to a new low. One member called her speech ‘boring’ and another went further, calling her 'poor' and 'tired'. This is an insult to 10 crore tribal brothers and sisters of this country. This is an insult to every poor person who rises from the ground," he told a public rally in Dwarka in poll-bound Delhi.

      “The Congress’ royal family does not accept anyone from the Dalit, Adivasi, OBC communities who rise above their circumstances. They insult them at every step." Nadda in a post on X said Sonia Gandhi's use of the phrase 'poor thing' to refer to the President is "deeply disrespectful" and underscores the opposition's continued disregard for the dignity of the highest constitutional office.

      Unfortunately, this is not an isolated incident, he added.

      While the President was highlighting the government's achievements, the opposition, driven by its "feudal mindset", instead chose to mock the empowerment of backward classes and women, "a transformation" brought about under Prime Minister Narendra Modi's leadership, he charged.

      Rijiju said the BJP will not "tolerate" the effort that is being made by the opposition to show Murmu as weak.

      "Since a tribal woman has become the President of the country for the first time, they are unable to digest it and are trying to project her as weak." "The President is a woman and a tribal. She is not weak," he told reporters in the Parliament complex.

      Slamming Sonia Gandhi and Rahul Gandhi, Rijiju said the Congress leaders calling President Murmu a "tired woman" and describing her speech as "boring" does not suit them. "It's highly condemnable." Union minister and senior BJP leader Dharmendra Pradhan called the remarks an "insult" to the country's women and tribals.

      BJP IT department head Amit Malviya said on X, "Sonia Gandhi referring to the President as a 'poor thing' demeans the high office and reflects her feudal mindset." Priyanka Gandhi said it is pretty clear that her mother means no disrespect to the President.

      "My mother is a 78-year-old lady. She simply said that 'the President must have been tired reading such a long speech, poor thing'. She fully respects, in fact she has the utmost respect for her (the President). It is very unfortunate that this kind of a thing is twisted by the media," she told reporters.

      "They are both respected people, they are older than us, they are at a certain age now and it is pretty clear that she (Sonia Gandhi) means no disrespect." Congress chief Mallikarjun Kharge asserted that the party has always respected the dignity of the office of the President and that in order to hide the bad state of the economy, BJP leaders and a section of the media are twisting the phrase used by Sonia Gandhi.

      Kharge also sought to turn the tables on the BJP, claiming that President Murmu was insulted by the Modi government when she was not invited to the new Parliament building's inauguration.

      Congress leader Gouramis Gogoi said in a post X, "Sonia Gandhi's empathy for Hon'ble President Droupadi Murmu ji's health cannot be digested by the men in BJP." Every person in India has respect and empathy for the President, he said. PTI ASK AKV SKC UZM PK GSN GSN GSN

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