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    India-US trade pact to be finalised once US offers preferential rate: Goyal
    Business Nextgen Finance Raises Rs 215 Crore in Equity to Accelerate MSME Lending
    Drugs: ED raids in 4 states; over 2 dozen offenders, foreign links under scanner
    Razorpay Launches a Conversational AI Account Manager 'RAY' on WhatsApp For Businesses, in Partnership with IndusInd Bank
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    Ex-CII executive Shuchita Sonalika appointed COO of Canada-India Business Council
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September 3, 2026
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Preferential tariff treatment remains the condition for finalising the bilateral trade agreement and improving Indian export competitiveness.
Finalisation of the India-US Bilateral Trade Agreement is contingent on the United States extending preferential tariff treatment to India relative to competing supplier countries. Further negotiations are required following changes in the United States tariff environment. A comparative tariff advantage is intended to improve the price competitiveness of Indian goods in the United States market, particularly against competitors benefiting from lower duties under least-developed-country preferences or trade agreements.
September 3, 2026
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MSME secured lending equity capital, subject to regulatory approval, supports expansion without management-control change in operations.
Business Nextgen Finance Private Limited, a non-deposit taking non-banking financial company registered with the Reserve Bank of India, has raised Rs 215 crore in equity capital to expand secured credit for micro, small and medium enterprises. The transaction received prior Reserve Bank of India approval. The capital base will support secured lending scale-up, geographic expansion, technology investment and wider access to formal credit in underserved markets. The investment does not involve a change in management or day-to-day control.
September 3, 2026
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Money-laundering probes into narcotics trafficking rely on predicate police and narcotics cases and examine cross-border linkages.
Money-laundering investigation under the Prevention of Money Laundering Act involves coordinated searches in connection with multiple narcotics-trafficking matters. The investigation is founded on police and Narcotics Control Bureau FIRs and linked chargesheets concerning separate drug-trafficking allegations, including alleged trafficking in methamphetamine, marijuana and MDMA with suspected cross-border linkages.
September 3, 2026
Show AI Summary
Conversational AI account management enables businesses to access payment information, settlement support, refunds, and payment links through WhatsApp.
RAY is a conversational AI account manager on WhatsApp that enables businesses to access payment information, support, and operational actions through messages or voice notes. It can provide payment summaries, analyse payment activity, monitor settlement status, generate payment links, and issue refunds. The AI assistant is designed to proactively identify payment-health issues, flag settlement events, recommend actions, and use merchant-specific context to support payment management without dashboard navigation.
September 3, 2026
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Portfolio management services distribution enables certified mutual fund distributors to digitally onboard and report for eligible high-net-worth clients through AssetPlus.
AssetPlus has launched Portfolio Management Services for certified Mutual Fund Distributor partners to digitally onboard, track, manage and report PMS investments for eligible high-net-worth clients. PMS distribution requires NISM Series-XXI-A certification and operates within the APRN distributor-registration framework. PMS comprises individually managed portfolios run by SEBI-registered Portfolio Managers and held in clients' demat accounts. The minimum investment is Rs. 50 lakh, and offerings are governed by the SEBI (Portfolio Managers) Regulations, 2020. The platform provides daily reconciliation of holdings, performance and valuations.
September 3, 2026
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NPOP-certified ethnic rice exports strengthen organic producer access to international markets through certification, traceability, and organised export production.
NPOP-certified ethnic rice exports from Tripura to Austria and the Netherlands connect local farmers and Farmer Producer Companies with international markets through organised, export-oriented production. The initiative emphasises certification, traceability, food safety and quality as requirements for access to markets for certified organic products. Buyer-seller linkages support export opportunities, while coordinated organic value-chain engagement strengthens certification and quality systems and supports producers in meeting international standards.
September 3, 2026
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Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
VR LIVIN Ventures LLP launched 'THE FIRST', an 83-villa gated residential community in Madhavaram, North Chennai, which recorded sales of 20 villas during its first two launch days. The development includes smart-home villas and more than 50 lifestyle amenities, with access to nearby metro connectivity and social infrastructure. It forms part of the company's intended expansion of residential projects in Chennai and other South Indian locations.
September 3, 2026
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GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.
September 3, 2026
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Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
September 3, 2026
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Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
September 3, 2026
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
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Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
Show AI Summary
Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
Show AI Summary
Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
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Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
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Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
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Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.

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Opposition slams Budget as bundle of empty promises, ruling party MPs say it has vision for developed India

February 11, 2025

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New Delhi, Feb 11 (PTI) Opposition MPs in Rajya Sabha on Tuesday slammed the Union Budget as a bundle of empty promises that fails to address pressing issues like unemployment, inflation and farmer distress, while the members of the ruling BJP-led alliance lauded it as a significant step in the development path towards achieving the goal of 'Viksit Bharat'.

Participating in the debate on the Budget, BJP leaders highlighted India's economic growth despite the adverse impact of the COVID pandemic, efforts being made for the development of various sectors of the economy including infrastructure, and reforms like the income tax exemption up to Rs 12 lakh, which they claimed would boost consumption and growth.

On the other hand, opposition MPs accused the government of failing to deliver on its much-touted 'Sabka Saath, Sabka Vikas' slogan by sidelining welfare schemes for minorities, neglecting the agricultural sector, and overlooking the concerns of farmers, Scheduled Castes and Scheduled Tribes.

They also criticised the Goods and Services Tax (GST) regime and the stagnant budget for Mahatma Gandhi National Rural Employment Guarantee (MGNREG) scheme despite high demand.

BJP leader RPN Singh said, "In the last ten years, the Modi government has made our economy bigger than Britain which ruled us." He slammed the opposition saying they can't appreciate even the good decisions of the government.

"The exemption up to Rs 12 lakh on income tax, was it a bad decision? They will not speak about it even as the whole of India is lauding it," he said.

"The economy is progressing fast, it seems the opposition has forgotten COVID has impacted the whole world's economy, and India is now the fastest-growing economy," he said.

Singh said with the income tax slab change, Rs 1 lakh crore will be injected into the economy which will increase consumption.

However, TMC's Saket Gokhale said the government is going to earn more from taxes in this budget "by compensating for the reduction in income taxes through GST and other indirect taxes through which people are going to be extorted".

"Only 2.2 per cent of India's population pays income tax benefits ... 100 per cent of the population pays GST. When you take money through GST, everybody is going to get impacted by that," he said.

He alleged that the Modi government was depriving West Bengal of its rightful dues by withholding payment of over 1.75 lakh crore " because our people don't vote for them".

"Instead of the Licence Raj, today we have the GST Raj. Companies across India live in the dread of the GST inspector, who will find the smallest violation and then extort huge fines," he alleged.

Gohkale said the Indian economy is "crumbling" from the inside and its wall is going to crumble until something serious is done.

Independent Rajya Sabha member Kapil Sibal asked the government to spell out its vision for artificial intelligence considering the impact that it can have on jobs in India, while criticising the lack of an overall vision for the future in Union Budget 2025-26.

"When a new government comes to power naturally people of India expect that government to give us a vision of what it intends to do in the next five years. This government has already had ten years and the delivery mechanism has been both slow and inconsistent," the former Union minister said.

Chandrakant Handore, a Congress MP, demanded steps for the social, economic and educational uplift of backward and poor people to achieve the aim of Viksit Bharat.

“The government should focus on the development of backward and poor people along with the development of the nation,” Handore said.

BJP MP Bhagwat Kishanrao Karad said that the Budget is aimed at implementing the vision of a developed India by 2047.

"PM Modi, in his 11-year tenure, has given a new vision, which is Viksit Bharat Sankalp 2047, to 140 crore Indians," he said.

He said that if one has to study the budget, one should look at budget estimates and budget receipts.

He said that in 2013-14, the budget estimate was 16.65 lakh crore and after 10 years in 2024-25 it became 47.16 lakh crore.

Samajwadi Party MP Javed Ali Khan criticised the slashing of expenditure on schemes meant for the minority groups.

"The Budget or any policy document depicts the government's philosophy. In this Budget of 2025-26, minorities have been totally overlooked. The welfare schemes for minorities, the programmes have been either shut, or allocations have been cut," he said.

"The philosophy of 'Sabka Saath, Sabka Vikas' is definitely not behind it," he said.

Niranjan Bishi of the Biju Janata Dal (BJD) said that the Budget should have announced cuts in the prices of petrol, diesel and LPG, which would have helped bring down inflation.

CPI MP PP Suneer accused the Union government of not giving Kerala its due share.

CPI-M member A A Rahim criticised the Centre's economic policies, saying it has failed to address the real concerns of citizens.

Congress MP Ashok Singh stressed the need for a loan waiver for farmers, adding that a law should to made so that the Minimum Support Price for crops is decided based on the input cost.

BJP MP Arun Singh said that the Modi government has taken several steps for the farmers.

"Our government is dedicated to farmers, that is why in every election farmers vote for us and make us win while the opposition parties lose," he said.

Rajani Patil of Congress termed the Budget as a clear-cut example of the government's misplaced priorities.

"This Budget has neglected the most pressing issues facing our nation such as unemployment, farmer distress and rising cost of living. The lack of attention on these critical areas is a stark reminder of the government's disconnect from the common man, " she said.

She said budgetary allocations for the agri and fertiliser sectors have come down and even the MNREGA scheme remains stagnant despite demand for increases in wages.

NCP-SCP MP Fauzia Khan attacked the government on "rising" unemployment and the cost of living for middle-class households.

She also pointed to the decline in the value of the Indian rupee against the dollar.

Countering the opposition charge, Ajit Madhavrao Gopchade of the BJP noted that the government is working towards making the country a world power.

He said that post-COVID while many economies faltered, India continued on the path of growth.

BJP's Deepak Prakash stated that the Budget has brought happiness to the faces of 140 crore Indians.

He attacked the previous Congress governments for scams and policy paralysis.

NCP MP Praful Patel said that earlier giving 'roti, kapda and makan' was the essence of political and economic discourse, but people are today talking about a confident, self-reliant and developed India.

Referring to the US president’s ‘Make America Great Again’ slogan, Patel said Prime Minister Narendra Modi has been saying since 2014 that India is on a new trajectory with programmes like ‘Make in India’ and ‘Atmanirbhar Bharat’.

“What does it mean? Like America, we are also talking that ‘make India big and proud again’,” Patel said.

He stated that earlier India used to import a lot of goods and products but today "we are exporting a lot of crucial and important products". PTI AO RSN MSS JP SKC RT

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