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    Govt hikes windfall gains tax on petrol, diesel, ATF exports
    No guidelines to regulate online astrology platforms: Consumer affairs department to CIC
    Yellow.ai, a Global Leader in Enterprise Agentic AI, to Go Public via $550 Million Merger with Bluerock Acquisition Corp.
    Shri Piyush Goyal Invites Indian and Uzbek Businesses to Co-invest and Co-manufacture; Calls for Doubling Bilateral Trade at India-Uzbekistan Business...
    Every ₹1 invested under Kisan Credit Card– Modified Interest Subvention Scheme (KCC-MISS) contributes ₹2.30 to net value addition in the...
    India achieves near-universal banking coverage, with 99.92% of inhabited villages now served by a banking outlet
    Rupee rises for 6th day, gains 12 paise to 95.31 against US dollar as crude drops
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
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    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
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    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
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    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.
    August 3, 2026
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    Online Astrology Platform Regulation: consumer department reported no guidelines, while information requests required revised factual disclosures.
    Online astrology platforms were reported as lacking specific regulatory guidelines within the consumer affairs department. The RTI application sought information on alleged unfair trade practices, investigations, complaints, licences, approvals, and applicable rules. The National Consumer Helpline stated that it had not investigated because it functions as a grievance-resolution platform. A revised factual response was required on investigations and complaint data, while queries concerning regulation, licences, approvals, and related investigations were to be transferred to the public authorities likely to hold that information.
    August 3, 2026
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    Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
    The proposed business combination would take Yellow.ai public through a definitive agreement with Bluerock Acquisition Corp., subject to customary closing conditions and shareholder approval. Bluerock intends to file a Form S-4 registration statement containing a proxy statement/prospectus for proxy solicitation and securities issuance in connection with the transaction. The communication is not an offer or solicitation and states that no securities offering may occur without compliance with applicable registration, qualification or exemption requirements. Transaction projections and anticipated benefits are forward-looking statements subject to material risks and uncertainties.
    August 3, 2026
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    Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
    India-Uzbekistan cooperation is proposed through co-investment, co-manufacturing and co-innovation, supported by the Bilateral Investment Treaty to promote investor confidence and reciprocal investment. Priority sectors include mining, textiles, healthcare, agriculture, food processing, digital technologies and advanced manufacturing. Trade facilitation measures include reducing trade barriers, mutual recognition of standards, approvals, testing and certification, customs digitalisation and improved trade routes. Regulators and standard-setting bodies are expected to cooperate under a structured, time-bound economic partnership.
    August 3, 2026
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    Concessional agricultural credit supports working capital, crop diversification, allied activities, and digital expansion under the Kisan Credit Card scheme.
    The Kisan Credit Card-Modified Interest Subvention Scheme provides concessional institutional credit to reduce farmers' interest burdens and improve timely working-capital access. The scheme is reported to support cropping intensity, multi-season cultivation, diversified crop portfolios, timely input use, and credit discipline through the Prompt Repayment Incentive. It also supports dairy, livestock, and fisheries-based income diversification. Credit-delivery measures include collateral-free lending, digital platforms, simplified applications, coverage expansion, and awareness campaigns. State-wise data tracks operative accounts, outstanding credit, and non-performing Kisan Credit Card accounts.
    August 3, 2026
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    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      UK's Starmer says Europe is at 'crossroads in history' as leaders agree to steps to Ukraine peace

      March 3, 2025

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      London, Mar 3 (AP) British Prime Minister Keir Starmer rallied his European counterparts Sunday to shore up their borders and throw their full weight behind Ukraine as he announced outlines of a plan to end Russia's war.

      “Every nation must contribute to that in the best way that it can, bringing different capabilities and support to the table, but all taking responsibility to act, all stepping up their own share of the burden," he said.

      Starmer's exhortation to 18 fellow leaders that they need to do the heavy lifting for their own security comes two days after US backing of Ukraine appeared in jeopardy when President Donald Trump lashed out at Ukrainian President Volodymyr Zelenskyy and said he wasn't grateful enough for America's support.

      The meeting had been overshadowed by the extraordinary scolding that took place on live television at the White House. Starmer used the opportunity as part of his broader effort to bridge the gap between Europe and the US and also salvage what had seemed like the start of a peace process before Friday's spat.

      Starmer said he had worked with France and Ukraine on a plan to end the war and that the group of leaders — mostly from Europe — had agreed on four things.

      The steps toward peace would: keep aid flowing to Kyiv and maintain economic pressure on Russia to strengthen Ukraine's hand; make sure Ukraine is at the bargaining table and any peace deal must ensure its sovereignty and security; and continue to arm Ukraine to deter future invasion.

      A coalition of the willing Finally, Starmer said they would develop a “coalition of the willing” to defend Ukraine and guarantee the peace.

      “Not every nation will feel able to contribute but that can't mean that we sit back," he said. “Instead, those willing will intensify planning now with real urgency. The UK is prepared to back this with boots on the ground and planes in the air, together with others.” It is far from certain whether Russian President Vladimir Putin will accept any such plan, which Starmer said would require strong US backing. He did not specify what that meant, though he told the BBC before the summit that there were “intense discussions” to get a security guarantee from the US.

      “If there is to be a deal, if there is to be a stopping of the fighting, then that agreement has to be defended, because the worst of all outcomes is that there is a temporary pause and then Putin comes again,” Starmer said.

      Starmer said he will later bring a more formal plan to the US and work with Trump.

      Before arriving in London, French president Emmanuel Macron suggested in an interview with a French newspaper that he and Starmer are proposing a “truce in the air, on the seas and energy infrastructures” that would last a month.

      There would be no European troops in the coming weeks and troops would only be deployed on the ground at a later stage, he said.

      The question, Macron said, is “how we use this time to try and get an accessible truce, with negotiations that will take several weeks and then, once peace is signed, a deployment.” Two diplomatic steps forward, one back Europe has been anxious since Trump initiated direct peace talks with Putin, who had been isolated by most Western leaders since invading Ukraine three years ago. The scramble to remain relevant and protect European interests as their once stalwart ally appeared to be cozying up to Putin was even more troubling when Trump called Zelenskyy a dictator and falsely said Ukraine started the war.

      Meetings last week had provided some hope — until Zelenskyy's trip to the White House on Friday.

      Visits to the Oval Office by Starmer and French President Emmanuel Macron, who had declared his visit a “turning point," were seen as steps in the right direction. The meetings were cordial and Trump even took a gentler tone toward Ukraine, though he would not commit to providing US security guarantees and maintained that Europe would need to provide peacekeeping troops.

      Within 12 hours of Starmer's return from Washington, the talk of peace seemed to collapse as Trump and Vice President JD Vance berated Zelenskyy for challenging Trump's assertions that Putin could be trusted.

      During his Sunday press conference, Starmer rejected the suggestion that the US was no longer a reliable ally.

      “There are no two countries as closely aligned as our two countries and our defence, our security and intelligence is intertwined in a way no two other countries are, so it's an important and reliable ally for us,” he said.

      Starmer does not trust Putin Starmer told the BBC before the summit that he does not trust Russian President Vladimir Putin but does trust Trump.

      Italian Premier Giorgia Meloni said she was sorry for what happened with Zelenskyy in Washington. Meloni is both a strong Ukraine supporter and — as head of a far-right party — she is a natural ally of Trump. She was the only European leader to attend his inauguration.

      She said told reporters following the meeting that Europe must remain focused on its common goals and that “dividing the West would be disastrous for everyone.” “We need to work to reinforce our unity, and I think that Italy can play a role, not just in its own interest, but in everyone's," she said. “I don't want to take any other scenario into consideration.” Starmer hosted the meeting at Lancaster House, a 200-year-old mansion near Buckingham Palace, following his charm offensive with Macron to persuade Trump to put Ukraine at the centre of negotiations and tilt his allegiances toward Europe.

      Leaders from Germany, Denmark, Italy, Netherlands, Norway, Poland, Spain, Canada, Finland, Sweden, the Czech Republic and Romania were at the summit. The Turkish foreign minister, the NATO secretary-general and the presidents of the European Commission and European Council were also in attendance.

      Turning Ukraine into a 'steel porcupine' Starmer used sweeping terms to describe the challenge ahead, saying Europe was at a crossroads in its history and needed to step up to meet “once in a generation moment.” European Commission president Ursula von der Leyen emerged from the meeting and said she would present a plan to “rearm Europe” to bolster the bloc's security after a long period of underinvestment.

      As for the future of war-torn Ukraine, von der Leyen said it needs security guarantees.

      “We have to put Ukraine in a position of strength so that it has the means to fortify itself and to protect itself,” von der Leyen said. “It's basically turning Ukraine into a steel porcupine that is indigestible for potential invaders.” Last week, Starmer pledged to boost military spending to 2.5% of gross domestic product by 2027. Other European nations may follow suit.

      Czech Prime Minister Petr Fiala said Saturday that Europe faces a historic test and has to look after itself. He said European countries have to increase their arms spending to reach at least 3% of GDP.

      “If we don't increase our effort fast enough and let the aggressor dictate its conditions, we won't end up well,” he said.

      Starmer pledged to supply more arms to defend Ukraine, announcing that the UK will use 1.6 billion pounds ($2 billion) in export financing to supply 5,000 air defence missiles. (AP) SCY SCY

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