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    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
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    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
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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
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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.
August 1, 2026
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GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
August 1, 2026
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Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
August 1, 2026
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Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
August 1, 2026
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Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
August 1, 2026
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Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
July 31, 2026
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Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
July 31, 2026
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Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
July 31, 2026
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Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
July 31, 2026
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Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
July 31, 2026
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Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
July 31, 2026
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Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
July 31, 2026
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India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
July 31, 2026
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Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
July 31, 2026
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One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.

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Chhattisgarh Budget looks to give 'GATI' to development

March 13, 2025

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Raipur, Mar 13 (PTI) Resource-rich Chhattisgarh is focusing on enhancing governance and technology while fast-tracking infrastructure development to transform into an economically vibrant and industrially advanced state, its finance minister O P Choudhary said.

He last week presented the Chhattisgarh government's Budget for the fiscal year 2025-26, totalling Rs 1.65 lakh crore, with a focus on economic revival, infrastructure development, and social welfare.

While last year's Budget focused on theme GYAN (Gareeb, Yuva, Annadata & Nari), this year's Budget aims to drive progress in the state under the theme of GYAN ke liye 'GATI' to build on the progress made so far, he said discussing the focus of this year's budget.

"In GATI, G stands for good governance, A for accelerating infrastructure, T for technology and I for industrial growth," he said.

Last year's Budget centred around inclusive development. But for inclusive growth, economic development is equally important, he said.

Aspirations of youth, women, and the poor cannot be met without ushering in economic growth. "So to make the concept of welfare sustainable, we thought of GATI," he said. "We want to usher in rapid economic growth. And when there is rapid economic growth, the government will have the financial capacity to bring in the welfare schemes and ensure inclusive growth to the end of the society. This is our philosophy." Without levying any new tax or raising any existing rates, the Budget is designed to propel the state towards a self-sustaining and prosperous future with a clear focus on long-term growth and development.

With enhanced allocations, the budget aims to boost infrastructure, industrial development, and regional connectivity, creating an environment that attracts both public and private investments.

There is a strong emphasis on empowering women, farmers, and rural communities through initiatives like free electricity for agriculture, housing programmes, and skill development opportunities.

Elaborating on GATI components, he said good governance means enhancing transparency, accountability, and citizen engagement in governmental processes.

Investing in the development of roads, bridges, and public facilities to stimulate economic growth is part of focus on infrastructure.

Technology is to be used to streamline governance and improve public service delivery.

Also, industrial development is being promoted through favourable policies and attracting private investments.

"We have used technology, simplified the process, reduced the compliance burden, made it easier to do business in the state, and brought transparency. We have worked to improve the processes and governance," he said.

The state, which was counted among those without highest petrol and diesel prices, cut VAT on the fuel in the Budget to give relief to consumers.

"Without increasing the rate, our transport revenue has increased by 20 per cent. In terms of GST collections, according to the data up to February, we are in the top three best performing states in the country," he said.

Choudhary said the five years of Congress rule in the state up to 2023 are the example of bad governance.

"We have made remarkable growth since then," he said.

The bureaucrat-turned-politician said improving tax through governance is his government's first strategy.

"Secondly, I have talked about speed in this budget. We will focus on infrastructure and industrial growth and ensure rapid economic growth. When there is economic growth, the revenue collection will increase automatically," he said. "So, governance and economic growth, these two pillars are our focus".

Also, the state government is looking at rapid economic growth through heavy capex spending, he said.

Asked about pre-poll promises including subsidised cooking gas and cash doles to certain sections such as women, Choudhary said Chhattisgarh is the first government in the country to have fulfilled majority of promises.

Since coming to power, rice is being procured at Rs 3,100 per quintal, Rs 8,000 crore has been spent on women empowerment, Rs 5,000 crore provided for housing scheme, and Rs 3,700 crore for landless agricultural labourers, he said, recounting the welfare measures of the BJP-led government in the state.

"We have fulfilled more than 90 per cent (of our poll promises). We are the first government to fulfil so many promises in the last 15 months," he said.

The budget also has many uniques -- from homestay policy to foodparks.

"There is a major perception problem here. People think you will get killed by Naxals if you go to Raipur. But that is not the case," he said, adding the state is peaceful in most parts.

Bastar is bigger in area than Kerala and only a small part of it has Maoist problem, he said.

"Because of this perception problem, we could not explore the beauty of nature. The people there did not get the benefit. We have brought a homestay policy by engaging the local tribals," he said, citing a UN body adjudging a village in Bastar as the best tourist village in the world.

"We want to promote tribal eco-tourism through the homestay policy. This will give people employment," he said.

Likewise, food processing and minor forest produce is very important for the economy of Chhattisgarh.

In the Budget, Rs 10,000 crore has been allocated to the Krishak Unnati Yojana to enhance agricultural prosperity, Rs 8,500 crore for the Pradhan Mantri Awas Yojana (Gramin) to improve rural housing and Rs 3,500 crore set aside for providing free electricity to agricultural pumps up to 5 HP. Also, Rs 5,500 crore allocated to the Mahatari Vandan Yojana and Rs 4,500 crore to the Mukhyamantri Khadyann Sahayata Yojana, aiming to empower women and ensure food security.

It earmarks Rs 9,500 crore for public infrastructure, Rs 845 crore for rural roads under the Pradhan Mantri Gram Sadak Yojana (PMGSY) and Rs 500 crore for connecting Particularly Vulnerable Tribal Groups (PVTG) habitations. It provides Rs 250 crore for the development of the Naxal-affected Bastar region, focusing on infrastructure, education, and industrial growth. PTI ANZ HVA

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