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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
    Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
    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
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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.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    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.
    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
    Show AI Summary
    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
    Show AI Summary
    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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      Political row over USAID fund recipient: BJP accuses Rahul of colluding with foreign forces, Cong demands white paper

      February 21, 2025

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      New Delhi, Feb 21 (PTI) A political row erupted Friday after a media report claimed USD 21 million aid by USAID was meant for Bangladesh and not India, with the Congress demanding an apology from the BJP and the ruling party accusing Rahul Gandhi of colluding with foreign forces to weaken India.

      The Congress alleged that the BJP's narrative was aimed at diverting attention from its own use of foreign funds to "destabilise" past governments led by it. It also demanded the government come out with a white paper on the USAID funding as well as funding by other such agencies in India.

      The BJP dismissed as "cover up" the media report that the USD 21 million fund was for Bangladesh and not India and called Rahul Gandhi a "traitor".

      Both the parties held press conferences to accuse each other of weakening the governments in India by using foreign funds.

      Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal, meanwhile, termed the USAID funding as "deeply troubling" that has led to concerns over foreign interference in India's internal affairs.

      Asked about the issue at the weekly MEA briefing, he said relevant departments and authorities are looking into the information put out by the American administration regarding certain US activities and funding.

      "We have seen information that has been put out by the US administration regarding certain US activities and funding. These are obviously very deeply troubling," Jaiswal said.

      "Facts show all may have jumped the gun. That USD 21 million ... was sanctioned in 2022 for Bangladesh, not India," the Indian Express report said, citing documents.

      US President Donald Trump claimed the USD 21 million funding to India for 'voter turnout' was a "kickback" scheme, as he continued to attack the previous Biden administration over the now cancelled financial aid.

      Trump made these remarks while speaking at the Republican Governors Association meeting in Washington DC on Thursday.

      "USD 21 million for voter turnout in India. Why are we caring about India's turnout? We have got enough problems. We want our own turnout," he said.

      This is the third time within a week that Trump has questioned the funding.

      Citing the media report, Congress general secretary in-charge communications Jairam Ramesh said, "Lies first mouthed in Washington. Lies then amplified by BJP's Jhoot Sena. Lies made to be debated on Godi media." "Lies now thoroughly exposed. Will the liars apologise?" he asked in a post on X.

      BJP spokesperson Gaurav Bhatia claimed the USAID funding came to India to meddle with internal politics and disrupt the electoral process in India.

      He said when the US President himself has made a statement on USAID funding to India, nobody else could have better knowledge about it than him.

      The BJP accused the Congress of using external influence in India's election process, ever since the Trump administration's Department of Government Efficiency (DOGE) announced on February 16 that it had "cancelled" USAID funding of "USD 21 million for voter turnout in India".

      "More than USD 2000 million funding came to the government in India from 2004-13 during the erstwhile Congress led UPA rule. And, just USD 1.5 million came during Modi ji's term. It's because they know that Narendra Modi will not sell India and India's interests to any foreign power," he said.

      A larger share of the USAID fund came into India during the UPA regime because the Congress can broker the country's sovereignty and its interests, Bhatia alleged.

      "While funding for the government (in India) stopped, there was an increase in funding for the NGOs during Rahul Gandhi's Bharat Jodo Yatra to strengthen Rahul Gandhi ahead of the polls in an attempt to defeat Narendra Modi (in the Lok Sabha elections)," he claimed.

      Gandhi's Bharat Jodo Yatra was aimed at "breaking India", he charged.

      BJP's IT department head Amit Malviya termed the report as "fake news", saying it discusses USD 21 million in funding to Bangladesh in 2022 but "misrepresents" reference to USD-21 million funding tranche to "promote" voter turnout in India.

      Addressing a press conference, Congress spokesperson Pawan Khera alleged the entire "USD-21 million USAID funds narrative" perpetrated by the BJP, Modi government's ministers, its economic advisor, the party's IT department head, the RSS-BJP ecosystem was done to divert attention from their "own sins" of using foreign funds to destabilise Congress governments in the past.

      Citing the report, Khera claimed that the truth has come out that the "USD 21 million USAID funds" were not given to India, but to Bangladesh.

      "Official documents prove that. (Prime Minister Narendra) Modiji's best friend Trump had perhaps intentionally or unintentionally made a faux pas through the DOGE. But the fact that the RSS-BJP ecosystem shamelessly latched onto it, without examining the facts, tells you that it wanted to hide its own acts of commissions in damaging India's democracy," he said.

      Khera referred to RSS taking CIA's assistance during Emergency and in the run-up to it, besides other instances.

      He also alleged that RSS orchestrated the Anna Hazare-Arvind Kejriwal "India Against Corruption" movement to overthrow the Congress-led UPA government with the help of foreign aid, especially from USAID and Ford Foundation.

      "Let it be clear, we do not consider global partnerships, developmental agencies, aid mechanisms, such as the USAID, as unscrupulous. It is the BJP that first started the deep-state narrative and demonising the USAID. However, we have enough evidence that the RSS-BJP has been taking covert assistance from foreign agencies to destabilize Indian democracy and bulldoze our Constitution," Khera alleged.

      Meanwhile, Vice President Jagdeep Dhankhar too voiced concern over the alleged USAID funding for raising voter turnout in India, saying people who allowed such an attack on the country's democratic values should be exposed.

      Speaking at an event here, he said the remarks on USAID funding came from a person of authority and that it was a fact that money was given.

      "People who allowed such an attack (to allegedly damage the electoral purity) should be exposed," he said.

      He also said delivering a body blow to such forces is the "national duty" of people.

      Addressing another event, Dhankhar said, "Time has come to thoroughly get into this malaise, this political COVID infiltrated in our society to destroy our democracy.All those involved in this sinister activity, who benefited out of this structured pernicious strategy must be shamed and brought to book, fully exposed." As the row snowballed, Shiv Sena (UBT) leader Priyanka Chaturvedi said, "The joke is on us as a nation. The GoI went by DOGE revelation, they lapped up President Trump's statement. The media debated it with glee. Neither of them left with any self respect enough to investigate rather than believe all that is being served to them." TMC leader Saket Gokhale said the BJP held press conferences claiming a big "conspiracy" about election interference in India.

      "Turns out the entire 'USD 21 million for voter turnout' thing was an 'error'," he said, accusing the BJP of "lying again for cheap political points". PTI PK ASK SKU SKC ZMN

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