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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.
Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
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.
Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
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.
August 5, 2026
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Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
August 5, 2026
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Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
August 5, 2026
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Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
August 5, 2026
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Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
August 4, 2026
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Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
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.
A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
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.
August 4, 2026
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Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.

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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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