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    Final US Section 301 Measures on Forced Labour: India Placed in Lower Tariff Tier at 10%
    Department of Commerce Reviews Flue-Cured Virginia (FCV) Tobacco Market Situation in Andhra Pradesh
    Ministry of Corporate Affairs’ ‘Corporate Mitra Scheme’ Awareness Webinar Successfully Organized by IICA Shillong for the youth and enterprises ...
    FM Sitharaman directs Income Tax dept to work for benefit of common people
    Crime Branch chargesheets 10 accused in separate fraud & forgery cases in Jammu
    ED chargesheets 3 founders of Gameskraft under PMLA
    IDFC FIRST Bank Q1FY27 Results: Highest Ever PAT of ₹1,075 Crore, Up 132.4% YoY
    India placed in lower 10 pc US tariff bracket; reaffirms commitment to BTA
    Ratnaveer Precision Engineering Reports 20% Revenue Growth and 21% PAT Growth in Q1 FY27
    India placed in lower tariff tier at 10 pc under US Section 301 measures on forced labour: Govt
    ED report says CMRL ex-MD cited Veena’s ties to then Kerala CM for payments
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and ...
    Trump says US will investigate EU trade practices, claiming bloc unfairly fined tech giants
    World shares are mixed and oil prices fall, markets in Asia skid in sell-off of AI-related shares
    Sitharaman ask I-T officials to go after tax evaders, ensure convenience for honest taxpayers
    HIGHLIGHTS
    Rupee recovers 20 paise to settle at 96.53 against US dollar
    Sri Lanka welcomes US tariff reduction
    DPIIT's One District One Product Initiative Promotes 1,244 Unique Products Across 773 Districts
    India's Services Exports Rise to USD 421.3 Billion in FY 2025-26, Led by Telecommunications, Computer and Information Services and Business Services
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    July 27, 2026
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    Section 301 forced-labour measures place Indian imports in a lower tariff tier while preserving specified product exclusions.
    Section 301 forced-labour import measures impose an additional ad valorem duty on imports from India, with India placed in a lower additional-tariff tier than initially proposed. Specified exports that attract no additional duties, and goods already subject to Section 232 measures, remain outside the Section 301 additional duty. A substantial portion of Indian exports is therefore excluded, while the remaining exports are subject to the additional duty. The textile-specific mechanism has not yet been operationalised, and engagement continues in relation to that mechanism and bilateral trade agreement negotiations.
    July 27, 2026
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    FCV tobacco market stability remains under review through coordinated measures to protect growers and maintain transparent auction operations.
    FCV tobacco market stability was reviewed with emphasis on protecting growers' interests and considering long-term measures for the sector. The delegation inspected Tobacco Board auction operations, interacted with growers on prevailing market conditions, and noted the transparent and orderly conduct of auctions. The Government is monitoring developments and examining appropriate measures with the State Government, Tobacco Board and stakeholders to safeguard FCV tobacco farmers' interests.
    July 27, 2026
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    Corporate Mitra Scheme supports MSMEs through accredited professionals delivering affordable compliance, financial, taxation, accounting and governance assistance.
    The Corporate Mitra Scheme seeks to strengthen MSMEs by connecting them with accredited para-professionals providing affordable compliance and business-support services. Corporate Mitras are envisaged to assist with regulatory compliance, finance, taxation, accounting and governance, allowing enterprises to focus on growth. The scheme also trains young graduates in industry-relevant skills and creates employment opportunities. IICA Shillong serves as the nodal agency for coordination, stakeholder liaison, promotion and awareness in the North Eastern Region.
    July 26, 2026
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    Tax administration must deliver timely lawful service, protect public assets, and uphold integrity in tax collection.
    Tax administration should assist common citizens by handling matters within departmental authority without unnecessary delay, while remaining within applicable rules. Government departments should protect public land from illegal occupation and expedite lawful land transfers, permissions, construction arrangements and procurement for departmental premises and accommodation. Integrity is the essential principle for officials performing tax-collection functions.
    July 26, 2026
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    Investment fraud and forged residence certificates prompted chargesheets over alleged misappropriation, fabricated revenue records, land purchases and employment access.
    Criminal chargesheets concerned alleged investment fraud through false promises of high returns and alleged misappropriation of investor funds, involving a company stated to be unregistered with SEBI, RBI and the relevant Registrar of Companies. A separate chargesheet concerned alleged conspiracy to procure permanent resident certificates using forged revenue records, with the certificates allegedly used for land purchases and government employment. Forensic examination reportedly found that the relevant revenue documents were not genuine according to official records.
    July 25, 2026
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    Money-laundering allegations in online rummy gaming prompt prosecution proceedings and asset attachment over suspected cheating of users.
    Money-laundering proceedings concerning online real-money rummy operations include a prosecution complaint against Gameskraft Technologies, RummyTime Technologies, founder-directors and associated persons. The allegations concern proceeds of crime said to arise from cheating users through rummy applications and from an addictive environment encouraging repeated wagering. The proceedings also involve provisional attachment, seizure and freezing of financial holdings, equity interests and immovable properties alleged to be connected with suspected proceeds of crime. The founder-directors' arrests were declared invalid by the Karnataka High Court, while the investigating agency proposes to challenge that order.
    July 25, 2026
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    Banking financial performance reflected loan and deposit growth, improved asset quality, stronger margins and prudent contingency provisioning.
    Quarterly financial performance reflected growth in customer business, loans and deposits, expansion in lending portfolios, an improved CASA ratio and lower cost of funds. Asset quality improved through reductions in gross and net non-performing assets, while profitability indicators improved in relation to net interest margin, cost efficiency, provisions, net profit and return on assets. The bank received credit-guarantee claims for its microfinance portfolio and created a contingency provision for macroeconomic and geopolitical uncertainty. Capital adequacy and common equity tier-one ratios were also reported.
    July 25, 2026
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    Forced-labour import tariffs place Indian goods under an additional duty while exemptions preserve access for specified exports.
    A 10 per cent Section 301 additional import duty applies to specified Indian goods over and above ordinary most-favoured-nation duty, following a forced-labour-related investigation. Generic pharmaceuticals, smartphones, other specified products, and goods already subject to Section 232 sectoral duties remain outside the additional levy. The textile-specific mechanism has not yet been operationalised for India, while tariff-rate quota concessions using US-origin cotton and fibre were announced for certain other economies. India continues engagement on a bilateral trade agreement and tariff access for garments using American inputs.
    July 25, 2026
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    Copper Clad Laminate expansion advances through policy and rights-issue approvals, supporting domestic electronics manufacturing and strategic growth initiatives.
    The company reported progress on a proposed Copper Clad Laminate manufacturing project, including in-principle approval under the Gujarat Electronics Policy and substantial project completion. The facility is intended to support domestic electronics manufacturing and reduce import dependence. It also reported upgraded credit ratings, enhanced rated bank facilities, and stock-exchange in-principle approvals for a proposed rights issue supporting expansion and strategic growth initiatives.
    July 25, 2026
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    US forced-labour tariffs place India in a lower tier while preserving exclusions for specified imports and Section 232 products.
    US Section 301 forced-labour measures impose an additional 10 per cent tariff on imports from India, with India placed in a lower tariff tier than initially proposed. Generic pharmaceuticals, smartphones and certain specified products outside additional duties remain excluded, as do products already covered by Section 232 measures, including steel, aluminium and auto parts. The textile-specific mechanism has not yet been established or operationalised, and engagement continues in connection with bilateral trade agreement negotiations.
    July 25, 2026
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    Money-laundering investigation examines alleged fictitious expenses, circular vendor payments, and consultancy payments without services or deliverables.
    A money-laundering investigation alleges misappropriation through fictitious expense entries, unsupported vouchers, and inflated vendor invoices used to withdraw funds in cash. The Enforcement Directorate further alleges that payments described as software or IT consultancy expenses were made to Exalogic Solutions Pvt Ltd and Veena T without services or deliverables. The report cites statements concerning the alleged sham payments, Exalogic's dependence on company funds, and subsequent transfers from its account. The PMLA case is based on a prosecution complaint concerning suspected financial irregularities.
    July 25, 2026
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    Tax certainty and taxpayer-centric administration drive simplified compliance, reduced litigation, digital service delivery, and stronger voluntary tax compliance.
    Tax administration reform under the Income-tax Act, 2025, rules and forms is directed toward a simpler, transparent and taxpayer-centric system. Key priorities include reducing compliance costs and litigation through tax certainty, faster return processing, refunds, grievance redressal, voluntary compliance and timely appeal disposal. Digital initiatives, including PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and SAKSHAM NUDGE, are intended to simplify compliance and improve taxpayer experience. Capacity building in technology, international taxation, transfer pricing, digital assets and cybersecurity supports this reform agenda.
    July 24, 2026
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    Trade Practice Investigation: Tech-company antitrust fines prompt proposed tariffs and trade sanctions under federal trade law mechanisms.
    A formal investigation into alleged unfair trade practices has been announced in response to European regulatory fines imposed on major United States technology companies. The stated concern is that digital antitrust penalties are unfairly directed at United States businesses, with possible tariffs on European Union imports indicated. The proposed response is linked to Section 301 of the Trade Act of 1974, permitting import taxes and other sanctions against unjustifiable, unreasonable or discriminatory trade practices.
    July 24, 2026
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    Import tariffs and energy costs heighten inflation risks, pressuring consumers, corporate profits and monetary-policy expectations amid market volatility.
    Fresh tariffs on imports, rising energy prices and Middle East conflict are identified as concurrent pressures on global financial markets. The tariff measures apply to nearly all imports into the United States and are paid by importing companies, which typically pass the additional costs to consumers. Higher energy costs and tariffs may increase inflationary pressure, reduce household discretionary spending and affect corporate profitability, while influencing monetary-policy expectations. Investors also questioned whether substantial artificial-intelligence investment can support technology-sector valuations.
    July 24, 2026
    Show AI Summary
    Responsive tax governance promotes taxpayer convenience, correction of bona fide errors, tax certainty, prompt refunds and prevention of avoidable litigation.
    Responsive tax governance requires convenience for honest taxpayers, correction of bona fide errors and firm consequences for deliberate tax evasion. The Income Tax Act, 2025 is intended to simplify the legal framework, reduce uncertainty and lower compliance costs, supported by stronger electronic filing infrastructure and prompt refund processing. Tax certainty should promote voluntary compliance and shift the focus from litigation management to litigation prevention through consistent guidance, simplified procedures, technology, standardised processes, effective grievance resolution and reduction of recurring taxpayer difficulties.
    July 24, 2026
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    Examination integrity safeguards prompt monitoring, enforcement action and proposed stricter penalties for paper leaks and institutional failures.
    Examination integrity measures include reported termination of agency officials, contemplated legal and criminal action, proposed stricter punishment for paper leaks, and Supreme Court monitoring of preventive steps. The Supreme Court also prohibited unauthorised posting or uploading of audio-video court proceedings on social media and digital platforms without prior administrative permission. The updates further address taxpayer facilitation alongside firm action against evasion, trade measures connected with forced-labour concerns, and potential legal action concerning university communications to students.
    July 24, 2026
    Show AI Summary
    Foreign exchange market stabilisation supported rupee recovery as investor outflows, geopolitical tensions and elevated crude prices maintained currency pressure.
    Foreign exchange market conditions saw the rupee recover against the US dollar amid reports of Reserve Bank of India intervention and dollar sales by public-sector banks to limit further depreciation. Foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions, and elevated crude oil prices continued to pressure the currency. A decline in crude prices, diplomatic engagement, and central-bank intervention were identified as potential stabilising factors.
    July 24, 2026
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    Forced-labour import prohibition enabled lower tariff treatment for Sri Lankan goods, supporting export competitiveness and responsible trade practices.
    Tariff treatment for Sri Lankan goods entering the United States was reduced after Sri Lanka prohibited imports of goods produced using forced labour. The prohibition placed Sri Lanka within the lower tariff category under the stated US framework. The reduction is described as supporting exporter competitiveness while reflecting commitments to fair trade, responsible business practices, internationally accepted labour standards, and sustainable economic reforms.
    July 24, 2026
    Show AI Summary
    One District One Product strengthens district product branding, market access, food-processing support and export-oriented value chains.
    The One District One Product initiative supports district-identified products through branding, market access, exhibitions, capacity building and Government e-Marketplace onboarding. States and Union Territories select products and may leverage Central and State schemes, as no district-specific allocation is made. PM Ekta Malls and the PMFME Scheme support sales, food-processing projects, common infrastructure, branding, packaging, quality standardisation and food-safety compliance. Districts as Export Hubs promotes export-potential products through export committees, action plans and value-chain coordination.
    July 24, 2026
    Show AI Summary
    Services export promotion expands market access, professional mobility, qualification recognition and trade outreach for Indian service suppliers.
    Services export promotion combines targeted market and sector strategies, removal of domestic impediments, trade agreements and export-promotion activity. Free Trade Agreements secure market access and national treatment for Indian service suppliers, support transparent and time-bound authorisation processes, and facilitate temporary mobility of skilled professionals. Mutual Recognition Agreement provisions seek recognition of qualifications and licensing requirements. The framework also addresses social-security coordination, student mobility, traditional medicine and double-taxation commitments for IT services. The Services Export Promotion Council supports market development, trade facilitation, capacity building and international outreach.

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      Fired federal workers hunt for new jobs but struggle to replace their old ones

      February 25, 2025

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      New York, Feb 24 (AP) HIRING: Park ranger. SEEKING: Nuclear submarine engineer. WANTED: Sled dog musher.

      If they seem unlikely postings, they probably are. But a laid-off federal worker can dream.

      Axed from jobs not easily found outside government, thousands of federal workers caught in President Donald Trump's cost-cutting efforts now face a difficult search for work.

      “If you're doing, say, vegetation sampling and prescribed fire as your main work, there aren't many jobs,” says Eric Anderson, 48, of Chicago, who was fired Feb. 14 from his job as a biological science technician at Indiana Dunes National Park.

      All the years of work Anderson put in - the master's degree, the urban forestry classes, the wildfire deployments - seemed to disappear in a single email dismissing him.

      He's hoping there's a chance he's called back, but if he isn't, he's not sure what he'll do next. He was so consumed with his firing that he broke a molar from grinding his teeth. But he knows he's caught in something larger than himself, as the new administration unfurls its chaotic cost-cutting agenda.

      “This is someone coming in and tossing a hand grenade and seeing what will happen,” he says.

      The federal job cuts are the work of the Department of Government Efficiency, headed by billionaire Elon Musk, who has been tearing through agencies looking for suspected waste.

      No official tally of firings has been released, but the list stretches into the thousands and to nearly every part of the country. More than 80% of the federal government's 2.4-million-person civilian workforce is based outside of the Washington area.

      Cathy Nguyen, 51, of Honolulu, was laid off last month from her job at USAID, where she helped manage the PEPFAR programme, which combats HIV/AIDS.

      Her firing not only brought the turmoil of finding new health insurance, halting saving for retirement and her kids' college education, and trimming spending for things like the family subscription to Disney Plus - it also has forced her to reconsider her career goals.

      PEPFAR is a landmark effort that stretches across dozens of countries and is credited with saving some 26 million lives. Nothing rivals it. So where does a former PEPFAR worker go? “It's requiring me to rethink how I want to spend my professional life,” Nguyen says.

      As specialised as Nguyen's work has been, Mitch Flanigan may have her beat.

      Flanigan, 40, was assigned to the sled dog kennels at Denali National Park and Preserve in Alaska until he was fired Feb 14. It never brought a huge paycheck, but where else could he get to work as a dog musher against such a breathtaking panorama? He has appealed his firing with the US Merit Systems Protection Board.

      “I still kind of want to fight for the job that I lost,” he says. “I'm not really making much money, it's just fun and it's a unique thing to be a part of.” A November report from the Federal Salary Council, which advises on government pay, found that federal salaries were one-fourth lower than those in the private sector.

      A Congressional Budget Office report released last year found pay disparities depended on workers' education. Federal workers with a high school diploma or less outearned their private-sector counterparts with 17% higher wages, the CBO found. That edge disappeared among better-educated workers.

      Workers with bachelor's degrees had wages 10% lower than the private sector and those with professional degrees or doctorates earned 29% less. Federal benefits were vastly better than the private sector for the lowest-educated workers, the CBO found, and about even for the highest-educated workers.

      Many laid off from federal positions were drawn by stability, benefits and, more than anything, the opportunity to do work they might not be able to do anywhere else. Now, everyone from diplomats to public health workers are flooding the job market looking for suitable positions.

      Gracie Lynne, a 32-year-old fellow at the Consumer Financial Protection Bureau, who lives in Eugene, Oregon, took a pay cut when she started her job four years ago.

      Her parents lost their home during the Great Recession, which led to their divorce, years of financial angst, and Lynne's own interest in financial regulation. She found herself following the nascent CFPB's rulemaking and poring over 1,000-page bills on bank regulations. She wrote her master's thesis on the bureau. She couldn't pass up the job.

      “This is a once-in-a-lifetime opportunity,” she told herself.

      Plus, she thought, the benefits would come in handy when she and her husband decided to start a family. Now, six months pregnant, she finds herself jobless and scrambling to get insured.

      She isn't sure where she'll land, or if she'll find many employers rushing to hire someone about to become a mother. But she feels more committed than ever to the work she did.

      “I feel even more compelled to stay in the public sector after this experience,” she says, noting the good work protecting consumers she was every day, “to stay in the fight.” Luke Tobin, a 24-year-old forestry technician who worked for the US Forest Service in Idaho's Nez Perce National Forest, who was fired from his job Feb 14, finds the accusations of waste by Musk and others laughable. He sees extreme understaffing and threadbare budgets.

      He earned about $19 an hour and was furloughed for about half of the year but still relished a job that had him backpacking in remote areas for days at a time.

      Scrambling to find a replacement job, he's put in dozens of applications. He has pursued openings on tree farms, at tree-trimming companies and at nurseries, but so far, has only heard back from two employers on two minimum-wage jobs: one as an Amazon delivery person and the other as a line cook at a fried chicken restaurant.

      “I need a job,” he says, “any job.” (AP) SCY

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