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    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
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    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
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    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
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    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
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    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
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    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
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    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.

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      Rajasthan Cabinet approves textile and apparel policy, data centre policy and logistics policy

      February 4, 2025

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      Jaipur, Feb 4 (PTI) The Rajasthan Cabinet chaired by Chief Minister Bhajanlal Sharma on Tuesday took various important decisions, including a new textile and apparel policy, data centre policy and logistics policy for industrial and economic development of the state.

      The committee approved new youth policy for the accomplishment of the resolution of developed Rajasthan by making the youth capable and empowered, bringing Rajasthan Universities Laws (Amendment) Bill to give the title of 'Kulgurus' to the vice-chancellors of universities, bringing Rajasthan Land Revenue (Amendment Validation) Bill with the aim of accelerating the development of RIICO industrial areas and amendment in personnel welfare and service rules.

      The state government wants to establish the state as a global manufacturing hub in the field of textiles and apparel, Parliamentary Affairs Minister Jogaram Patel and PHED Minister Kanhaiya Lal said after the cabinet meeting.

      Keeping this in mind, the Rajasthan Textile and Apparel Policy-2025 approved in the cabinet today will promote sustainable and holistic development of the textile and apparel sector in the state as well as employment generation, skill development, innovation, productivity and export in this sector.

      He said it will also increase the efficiency and reliability of local textile producers at the global level. The textile producers of the state will benefit from this policy and new employment opportunities will be created with a potential investment of about Rs 40,000 crore in the state.

      Patel said that keeping in view the growing influence of information technology, Rajasthan Data Center Policy-2025 was approved by the cabinet to encourage the establishment of data centers in the private sector in Rajasthan.

      The objective of this policy is to develop a world-class data center ecosystem in the state and make Rajasthan a major destination in the data center sector.

      This policy will make the efficiency, security and reliability of the activities of the data centers to be established in the state effective.

      In this policy, many provisions have been made to encourage the data center sector, including asset creation incentive, sunrise incentive, interest subsidy, exemption in banking, transmission and wheeling charges, flexible payment facility related to land, exemption in stamp duty, land conversion and electricity charges and exemption from external development fee, Patel said.

      He said that an investment of about Rs 20,000 crore is likely to come in the state in the next five years with the implementation of this policy.

      The minister said that Rajasthan Logistics Policy-2025 was approved by the cabinet with the aim of promoting industrial development in the state and reducing logistics costs by increasing connectivity.

      This policy will prove helpful in mapping logistics facilities and generating employment by attracting private investment in the logistics sector.

      Under Rajasthan Logistics Policy-2025, attractive provisions have been made for various concessions in taxes and duties including capital subsidy, interest subsidy for warehouse, silo, cold storage, inland container depot, container freight station, air freight station, cargo terminal, trucker park, private multi-model logistics park and integrated logistics park developers.

      A maximum of 10 acres or 10 per cent of allocable land in the upcoming industrial areas of RIICO will be reserved for logistics facilities.

      Lal said that through the Rajasthan Youth Policy-2025 approved by the cabinet, youth access to quality education, skills, health, employment, entrepreneurship and basic rights will be ensured. This policy will replace the Youth Policy-2013.

      The new youth policy will encourage youth participation in various fields including social, economic, political and cultural fields. Through this policy, emerging talents in fields like art, sports, culture and literature will also be supported, he added.

      Talking about the merger of Rajasthan Tax Board with Revenue Board, Patel said that after the implementation of GST system from the year 2017, the work of Rajasthan Tax Board had become limited. In view of this, it has been decided to merge Rajasthan Tax Board with Rajasthan Revenue Board.

      This will strengthen the institutional framework for timely disposal of revenue and tax related appeals in the state, he said.

      Lal said that to provide the opportunity of fourth promotion in the Rajasthan Industries Service (State Service) cadre in line with other state services, the post of senior additional commissioner will be created in the Department of Industries and Commerce. A notification will be issued to include this post in the appendix of Rajasthan Industries Service Rules-1960.

      At present, only three opportunities for promotion are available in this cadre.

      He said that a proposal to amend the Rajasthan Vidhan Sabha Secretariat (Recruitment and Conditions of Service) Rules-1992 and add a new entry to create a new post of chief editor in the Rajasthan Vidhan Sabha Secretariat was approved today.

      By creating a new post of chief editor, the benefit of promotion in the Reporter cadre in the Rajasthan Vidhan Sabha Secretariat will be available soon.

      Patel informed that in the budget for the year 2024-25, it was announced to confer the title of 'Kulgurus' to the Vice Chancellors of the State Universities of the state.

      In compliance with this budget announcement, the cabinet has decided to amend the Acts of all 33 State Universities operating under the Higher Education Department and various departments of the state through an amendment bill.

      Patel informed that MoUs worth Rs 35 lakh crore have been signed in the Rising Rajasthan Global Investment Summit. Of these, the maximum MoUs worth more than Rs 28 lakh crore have been signed in the energy sector, as a result of which the state is moving towards becoming an energy surplus state.

      In this sequence, 292.53 hectares of land in villages Basda, Magra, Kotha and Devda of Fatehgarh tehsil in Jaisalmer district will be allotted for 200 MW solar project, 672.59 hectares of land in villages Kotha and Harbha of Fatehgarh tehsil for 358.83 MW solar project, 162 hectares of land in revenue village Nagarada and village Kalijal of Shiv tehsil of Barmer district for 300 MW solar project and 119.4 hectares of land in village Nokh of Bap tehsil of Phalodi district for 59.9 MW capacity will be allotted. PTI AG AS AS

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