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September 1, 2026
NCLT bars Subhash Chandra from alienating assets, stays Rs 6.5-cr repayment plan
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
Rupee gains 28 paise to close at 94.94 against US dollar
Show AI Summary
Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
ED raids in Chhattisgarh PSC 'scam' case; Baghel's ex-PA raided
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
NCLT bars Subhash Chandra from selling assets as lenders challenge Rs 6.5 cr settlement
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
HIGHLIGHTS
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
Loan waiver scheme: Special Aadhaar verification process for farmers in Latur
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
Gross GST mop-up grows 15 pc to Rs 2 lakh cr in Aug
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
NCLT issues notices in Subhash Chandra insolvency matter, directs not to dispose of property
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
Markets drift lower in early trade amid higher oil prices, fresh US-Iran tensions
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
ED raids in Chhattisgarh PSC 'scam' case; ex CM Baghel's PA raided
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
ITR filing for AY27 touches record 7.8 cr
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.
September 1, 2026
DRI seizes over 42 kg foreign-origin gold worth more than RS. 65 crore in crackdown on gold smuggling
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
MoSPI signs MoU with Thapar Institute of Engineering & Technology, Punjab for undertaking a Research Study
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
NCLT forms historic 5-member bench to decide on Subhash Chandra's Rs 6.5 cr repayment plan
Show AI Summary
Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.
August 31, 2026
NCLT fails to arrive majority decision on Subhash Chandra's Rs 6.5 cr repayment plan
Show AI Summary
Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
Rupee rises 21 paise to close at 95.22 against US dollar
Show AI Summary
Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
Record 7.5 cr ITRs filed for AY'27, deadline ends midnight tonight
Show AI Summary
Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
Monthly Review of Accounts of Union Government of India upto the month of July 2026 (FY 2026-27)
Show AI Summary
Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.
August 31, 2026
Subhash Chandra drops mention of Ambani allegations, shifts focus to settling Essel debt
Show AI Summary
Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
NATIONAL ACCOUNTS STATISTICS - 2026 PUBLICATION
Show AI Summary
National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.

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News and Press Release

Annual Survey of Unincorporated Sector Enterprises (ASUSES)

March 12, 2025

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The National Statistics Office (NSO) under the Ministry of Statistics & Programme Implementation (MoSPI) is responsible for conducting large scale sample surveys on various socio-economic subjects on All India basis. These surveys cover the entire country except some villages of Andaman & Nicobar Islands which remain inaccessible. The sample is selected from all the States/UTs and the smallest sampling unit is villages or part of village in the rural areas and urban blocks or part of urban blocks in urban areas.

In this sequence, NSO, MoSPI conducts Annual Survey of Unincorporated Sector Enterprises (ASUSE) with the primary objective of measuring various economic and operational characteristics of unincorporated non-agricultural establishments in manufacturing, trade and other services sectors (excluding construction). The survey collects data on various economic characteristics of this sector including number of workers, Gross Value Added (GVA), emoluments paid, fixed asset owned, outstanding loan, besides, different types of operational characteristics such as type of ownership, nature of operation, registration status, use of ICT, etc.

As per the report of ASUSE 2023-24 conducted during October, 2023 – September, 2024, the total number of surveyed establishments in ASUSE 2023-24 was 4,98,024. The estimated number of establishments in the unincorporated non-agricultural sector is 7,33,99,476 during October, 2023 – September, 2024.

The total number of establishments in the sector increased substantially from 6.50 crore in 2022-23 to 7.34 crore in 2023-24, representing a healthy 12.84% growth.

The sector employed more than 12 crore workers between October 2023 and September 2024, marking an increase of more than one crore workers from 2022-23 and reflecting robust labour market growth.

The Government initiatives like Mudra Yojana and Startup India have played a pivotal role in supporting the growth of unorganized enterprises in India. However, their impact is not assessed in ASUSE.

The state-wise estimated number of establishments and workers in the unincorporated non-agricultural sector according to the reports of ASUSE 2022-23 and ASUSE 2023-24 are given in Table below:

State

ASUSE 2022-23

ASUSE 2023-24

Establishments

Workers

Establishments

Workers

           

Andhra Pradesh

32,05,746

49,41,337

36,34,267

51,44,792

 

Arunachal Pradesh

70,927

1,04,510

66,682

99,151

 

Assam

9,17,312

13,21,534

11,73,929

17,02,236

 

Bihar

37,01,144

58,95,375

43,19,314

58,51,757

 

Chhattisgarh

9,39,667

18,08,362

12,05,121

22,68,265

 

Delhi

9,30,269

19,99,614

9,97,101

21,94,598

 

Goa

53,049

1,18,205

58,742

1,50,979

 

Gujarat

34,94,085

68,80,754

46,45,859

92,00,653

 

Haryana

11,56,396

21,68,911

12,85,262

23,87,829

 

Himachal Pradesh

5,18,709

7,58,087

5,38,350

8,10,204

 

Jharkhand

19,77,514

28,92,648

17,67,860

25,70,291

 

Karnataka

34,74,043

58,32,890

36,49,865

58,25,296

 

Kerala

23,19,510

38,50,802

26,46,492

47,49,599

 

Madhya Pradesh

32,71,960

55,58,912

39,87,456

64,76,407

 

Maharashtra

60,97,234

1,15,51,427

64,44,857

1,21,48,273

 

Manipur

1,68,963

2,14,579

1,87,464

2,67,435

 

Meghalaya

1,64,419

3,20,986

1,89,814

3,06,179

 

Mizoram

12,841

17,109

16,863

28,659

 

Nagaland

53,657

1,05,778

71,674

1,21,882

 

Odisha

29,48,723

40,87,349

34,19,288

47,86,444

 

Punjab

16,57,995

28,11,437

18,71,246

31,49,055

 

Rajasthan

28,37,753

54,08,175

35,04,012

63,65,206

 

Sikkim

42,215

78,754

45,938

71,937

 

Tamil Nadu

42,29,039

84,58,091

45,24,484

87,46,975

 

Telangana

24,76,860

36,81,180

27,65,997

42,97,888

 

Tripura

1,51,335

1,90,951

1,83,220

2,53,346

 

Uttar Pradesh

89,94,323

1,57,45,855

93,83,148

1,59,95,004

 

Uttarakhand

5,05,049

8,28,105

6,12,174

10,09,650

 

West Bengal

78,31,257

1,05,41,884

92,67,816

1,20,38,420

 

A & N Islands

21,708

47,998

18,990

37,075

 

Chandigarh

35,253

77,804

77,847

1,81,169

 

D & N Haveli and Daman & Diu

32,994

66,527

38,245

86,610

 

Jammu & Kashmir

6,65,253

10,73,669

7,00,352

10,62,851

 

Ladakh

17,394

30,032

18,146

31,145

 

Lakshadweep

3,098

4,696

4,477

7,622

 

Puducherry

70,696

1,51,643

77,122

1,74,934

 

This information was given by the Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation, Minister of State (Independent Charge) of the Ministry of Planning and Minister of State in the Ministry of Culture, Rao Inderjit Singh in a written reply in the Lok Sabha today.

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